Dunkin Donuts Name Change
Dunkin Donuts will be dropping the “Donuts” and changing their name to Dunkin this January. The company will be concentrating on coffee since 60 percent of products sold are beverages. The name change is target marketed towards millennials, as it hopes the new name change will appeal to younger customers. The name change is intended to have customers treat Dunkin like any other coffee shop. Dunkin will continue to use the classic orange and pink color scheme.
Indonesia Death Toll Climbing
More than 1,500 and counting perished in Indonesian following a 7.5 magnitude earthquake. Officials presume the death toll will continue to rise, with several towns and residents under debris unaccounted for. The quake triggered a tsunami that caused a mountain of debris from which residents are still being recovered. The quake triggered a soil collapse which caused a catastrophe for commercial and residential residents clinging for cover. Until the massive debris cleanup concludes, the death toll is expected to continue to climb.
Tesla CEO Elon Musk Resigns as Chairman
Elon Musk resigned as chairman following concerning fraud allegations by the U.S. saying he was taking his company private. By misleading investors, both Musk and Tesla were fined $20 million by the Security and Exchange Commission. Musk will remain CEO but not as chairman. As chairman, he will no longer be responsible for board meetings and supervising and managing his team.
U.S. vs. China Trade War
The U.S. imposed tariffs on a further $200 billion worth of Chinese products. Beijing has retaliated with tariffs on $60 billion of US goods and 25 percent tariff on imported soybeans. China is the world’s biggest buyer of soybeans, using them to feed livestock. With more than a third of the product coming from the United States, Chinese importers may turn to other countries, but China may struggle to find alternative suppliers.