Australia Trade Balance Swings to Surprise Deficit as Imports Outpace Exports in May 
Oil Prices Slip as Iran Talks and Strong Supply Outlook Ease Market Concerns 
Goldman Sachs Says China Competition Weighs More on EU Growth Than Trade Deficit 
Gold Price Today: Bullion Heads for First Weekly Gain as Weak U.S. Jobs Data Eases Rate Hike Fears 
Super Micro Employees Detained in Taiwan AI Server Export Investigation 
SK Holdings, KKR Launch $1.3B Renewable Energy Venture in South Korea 
OpenAI Proposes 5% U.S. Government Stake Amid AI Policy Talks 
Norway Offshore Oil Workers Reach Wage Deal, Averting Strike 
New Zealand Consumer Confidence Rises in June as Inflation Expectations Ease 
Asian Stocks Rebound as Tech Shares Rally on Fed Rate Cut Hopes and Easing Iran Tensions 
Gold Price Surges Above $4,120 as Weak US Jobs Data Lowers Fed Rate Hike Expectations 
Turkey Vehicle Sales Fall 11.4% in June as Auto Market Weakens 
South Korean Stocks Tumble as AI Chip Selloff Hits Asian Markets 
South Korea Warns Won Is Undervalued, Boosts FX Coordination With Japan 
Wall Street Ends Mixed as Weak Jobs Data Lowers Fed Rate Hike Bets, Chip Stocks Tumble 
Asian Stocks Slide as Chip Shares Tumble Ahead of Key U.S. Jobs Report 
Switch Seeks $2 Billion Funding at Nearly $50 Billion Valuation Ahead of Potential IPO 
Starbucks revealed it has recruited a new chief technology officer to manage tech under the leadership of returning chief executive officer, Howard Schultz. The coffee chain company hired a former McDonald’s executive to assist the CEO with his plans to impose changes in Starbucks’ mobile app, drive-thrus, and other in-house tech systems.
According to Reuters, Starbucks hired Deb Hall Lefevre as CTO, and she will officially join the company on May 2. She will be replacing Hans Melotte, who was appointed as interim CTO for five months.
Chas Hermann, a consultant and former Starbucks vice president of marketing, said that hiring a CTO who has experience in retail and restaurants will make sure that digital transactions in the company will run smoothly. He said that this process has become especially important at the height of the COVID-19 pandemic as customers chose to buy and order via mobile apps and use payment systems to settle their bills.
Hermann added that CEO Schultz "wants to have someone that can really run the engine in the car, thus they hired Lefevre for the executive tech post. He added that while there is a CTO, “the driver in the seat will be Howard."
The company’s spokesperson said that some of the changes that are expected to be implemented with the modification include customization in Starbucks’ customers’ mobile app, systems for staff training, scheduling, and equipment maintenance so baristas can spend more time with customers.
It was previously reported that baristas experience burnout at work as a deluge of mobile orders come in, so the improvements on equipment will help them ease up the workload. Schultz is also planning to enhance employee benefits and subdue the increasing union organizing efforts at Starbucks locations.
Meanwhile, Schultz, who is also Starbucks’ founder, returned to the company as CEO earlier this month. He will also be a director on the chain’s Board. Through a letter, he announced his return and listed his vision for the future of the company and everyone working there.
“I am returning to the company to work with all of you to design our next Starbucks - an evolution of our company deep with purpose, where we each have agency and where we work together to create a positive impact in the world,” part of his letter reads.
