The Starbucks Corporation is rightly known for the lockstep loyalty to the brand that it demands from employees. But even the most ardent, glassy-eyed exponents of the "Starbucks' Way" have had a tough time staying perky over the past couple of years as outlets closed and the company suffered consecutive quarters of flagging sales.
But now, eureka! Starbucks has posted its best revenue figures since January 2008. One can only imagine the spring in the step, the extra note of chirpiness in the voice of your friendly neighbourhood barista. And touting their philanthropic role in world affairs, the corporate execs would probably say that much more is at stake than a mere cup of coffee.
They would be right. The McDonald's index is a well-established phenomenon: when times are lean, sales go up as consumers save a buck with a cheap fast-food fix. We can rest assured that if shoppers are paying Dh15 for a cup of coffee, fears of recession are fading over the horizon.
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The Penguin
Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz
Creator: Lauren LeFranc
Rating: 4/5
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
CHELSEA'S NEXT FIVE GAMES
Mar 10: Norwich(A)
Mar 13: Newcastle(H)
Mar 16: Lille(A)
Mar 19: Middlesbrough(A)
Apr 2: Brentford(H)
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.