Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
NRW Holdings Shares Surge After Securing Major Rio Tinto Contract and New Project Wins 
Trump Extends AGOA Trade Program for Africa Through 2026, Supporting Jobs and U.S.-Africa Trade 
RBA Raises Interest Rates by 25 Basis Points as Inflation Pressures Persist 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Oil Prices Climb as Middle East Tensions and U.S. Inventory Data Boost Market Sentiment 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
Japan Services Sector Records Fastest Growth in Nearly a Year as Private Activity Accelerates 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears 
Gold Prices Rebound Near Key Levels as U.S.-Iran Tensions Boost Safe-Haven Demand 
Japan’s Agricultural, Forestry and Fishery Exports Hit Record High in 2025 Despite Tariffs 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Instagram Outage Disrupts Thousands of U.S. Users 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Luckin Coffee, a Chinese coffee company and coffeehouse chain that was founded in Beijing in 2017, was delisted from NASDAQ in June 2020 and filed for Chapter 15 bankruptcy in the U.S. in February 2021. The company has fallen due to many scandals related to its finance and sales revenue.
While Luckin Coffee was initially very successful when it was launched, its sudden drop was believed to have resulted from mismanagement and bad handlers, and in fact, several executives were fired after its stock price came crashing down fast in late 2019.
It was reported that Luckin Coffee has been revived and has returned to business after the difficulties it faced in the previous years. Its comeback was reportedly very successful, and it is now said to be bigger than Starbucks in China, as per CNN Business.
On Tuesday, the Chinese coffee chain posted its first-quarter earnings, and the results were very positive, showing an increase of nearly 90% in revenue. This is said to be the company’s first-ever profit, and this was achieved despite the lockdowns in the country.
Luckin Coffee also boasts of ending the period with a total of 6,580 store outlets across mainland China. This number has surpassed the American coffee chain’s (Starbucks) 5,650 outlets in the region.
With its massive achievement, the company has now labeled itself as the largest coffee house chain in China. Most of the Luckin Coffee stores are operated by partners, and the company is directly running several locations as well. As for Starbucks, all of its stores are entirely company-owned.
“Our team continues to execute on our strategic plan, delivering another quarter of improved financial and operational results,” Dr. Jinyi Guo, chairman, co-founder, and chief executive officer of Luckin Coffee, said in a press release for its first-quarter financial results.
He continued to explain how they were able to get back to the top after being kicked out from the Wall Street listing. Guo said, “While we expect pandemic-related market pressures to continue having an adverse impact on our business in the near term, our board of directors and management team are confident in our ability to both meet and drive demand through continued investment in our core initiatives.”
