China Home Prices Fall Again in June Despite Slower Pace of Decline 
Yaskawa Electric Shares Slide as Weak Profit Overshadows Strong AI Demand 
Kitron Q2 Revenue Beats Estimates as Defense Demand Lifts Growth 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
South Korea Central Bank Set to Raise Interest Rates as Inflation Stays Elevated 
Arm Stock Falls After HSBC Downgrade, Citing Limited Near-Term AI Upside 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
BOJ May Raise Japan Growth Forecast While Keeping Focus on Inflation Risks 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
Morgan Stanley Says China’s Reusable Rocket Progress Poses Long-Term Challenge to SpaceX 
Paramount-Warner Bros. Discovery Merger Faces Lawsuit From 12 States 
Genesis Minerals to Acquire Vault in A$5.6 Billion Deal After Regis Withdraws 
Morgan Stanley Names Marks & Spencer Top European Retail Pick, Sees Strong Upside 
Dollar Eases as Middle East Conflict, Fed Outlook and Japan Pension Policy Drive FX Markets 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Starbucks Korea has recently given away some merchandise for one of its recent promotions. The coffee chain gave away the Summer Carry Bag collection to its customers, but it was alleged that these bags contain toxic chemicals called formaldehyde which has been described as carcinogenic and highly toxic.
The toxic content was supposedly discovered by a customer who tested the bag for its components. The customer said he or she works for FITI Testing & Research Institute, and the findings about the formaldehyde in the Starbucks Summer Carry Bag were posted on an online forum, but the uploader signed the post anonymously.
Starbucks Korea confirmed earlier this week that it has become aware of the reports, and in fact, it announced on Monday this week that it will be allowing the return of the bags. The coffee house will also give the customers three coupons for free drinks to compensate for the “toxic” bags, although full testing to check if the claims are accurate is not yet complete.
After stating it will be compensating those who will return the bag, The Korea Herald reported that the company is now considering giving away more freebies or other forms of compensation to pacify angry customers as the criticism has grown since the news of the alleged toxic summer bags spread.
“Depending on the internal investigation result of a formaldehyde level test of the bags, the company might decide whether it will provide compensation other than giving free drink coupons,” a Starbucks Korea representative told The Korea Herald. “We plan to share the test result no later than next week. Also, we have requested a separate test from a governmental research organization.”
At any rate, this is the latest incident where Starbucks Korea has been questioned about the quality of products it usually offers to its customers. Just in April, the company also received complaints regarding its paper straws.
People said that the item smelled like gasoline, and it turned out that one of Starbucks’ suppliers made a mistake with the amount of liquid coating substance it used in making the straws. Another case is where the customers complained about the sandwiches lacking some of the ingredients, and so far, Starbucks Korea has been able to address these issues fast.
