*By Alisha Haridasani*
Nestlé's $7.1 billion partnership with Starbucks announced on Monday aims to give the Swiss company an opportunity to regain lost ground in the United States.
Under the deal, the maker of Nespresso and Nescafé will market and distribute Starbucks' packaged products, including branded coffee capsules and tea bags. In return, Starbucks will have access to Nestlé’s vast global network to gain a stronger presence in overseas markets.
In a [statement](https://www.nestle.com/media/pressreleases/allpressreleases/nestle-press-release-may-2018) Monday, Nestlé said that its alliance with the Seattle-based coffee brand will serve as “a strong platform for continued growth in North America.”
Nestlé hasn't been able to keep up with shifting consumer demands in the U.S., its [biggest market](https://www.nestle.com/investors/annual-report), where coffee-drinkers are looking for freshly brewed products rather than instant coffee, like Nescafé.
It's one reason that Nestlé invested in the high-end coffee brand Blue Bottle last year.
Nestlé's shrinking share of the coffee market is also, in part, driven by competition from JAB. The European holding company has been expanding its coffee portfolio, which now includes Keurig, Peet’s, Stumptown, and Intelligentsia, giving it a foothold in the fresh-brewed and packaged coffee markets.
Shares of both Starbucks and Nestlé rallied on Monday.
A rare magnum of Dom Pérignon Vintage 1961 champagne that was specially produced for the 1981 wedding of Prince Charles and Lady Diana has failed to sell during an auction. Danish auction house Bruun Rasmussen handled the bidding Thursday. The auction's house website lists the bottle as not sold. It was expected to fetch up to around $93,000. It is one of 12 bottles made to celebrate the royal wedding. Little was revealed about the seller. The auction house says the bids did not receive the desired minimum price.
The New York Times and President Donald Trump are fighting again. The news outlet said Wednesday it won't be deterred by Trump's “false and inflammatory language” from writing about the 79-year-old president's health. The Times has done a handful of stories on that topic recently, including an opinion column that said Trump is “starting to give President Joe Biden vibes.” In a Truth Social post, Trump said it might be treasonous for outlets like the Times to do “FAKE” reports about his health and "we should do something about it.” The Republican president already has a pending lawsuit against the newspaper for its past reports on his finances.
OpenAI has appointed Slack CEO Denise Dresser as its first chief of revenue. Dresser will oversee global revenue strategy and help businesses integrate AI into daily operations. OpenAI CEO Sam Altman recently emphasized improving ChatGPT, which now has over 800 million weekly users. Despite its success, OpenAI faces competition from companies like Google and concerns about profitability. The company earns money from premium ChatGPT subscriptions but hasn't ventured into advertising. Altman had recently announced delays in developing new products like AI agents and a personal assistant.
President Donald Trump says he will allow Nvidia to sell its H200 computer chip used in the development of artificial intelligence to “approved customers” in China. Trump said Monday on his social media site that he had informed China’s leader Xi Jinping and “President Xi responded positively!” There had been concerns about allowing advanced computer chips into China as it could help them to compete against the U.S. in building out AI capabilities. But there has also been a desire to develop the AI ecosystem with American companies such as chipmaker Nvidia.
