International News 31 October 2025
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Mastercard Nears $2 Billion Acquisition of Crypto Infrastructure Firm Zerohash
Mastercard is reportedly in the final stages of negotiations to acquire crypto startup Zerohash in a deal valued between US$1.5 billion and US$2 billion, according to Fortune (Oct 29, 2025). If completed, the acquisition would mark one of Mastercard’s largest bets on stablecoins, underscoring the company’s growing confidence in digital assets pegged to fiat currencies like the U.S. dollar. Sources cautioned that talks could still collapse, while both companies declined to comment on the matter. The move aligns with Mastercard’s ongoing strategy to integrate blockchain and stablecoin technology for faster, cheaper, and more secure transactions, complementing its existing partnerships with Crypto.com, OKX, and Kraken. Founded in 2017, Zerohash builds infrastructure for stablecoin and blockchain services, enabling financial institutions to offer crypto trading, custody, and staking. The company recently raised over US$100 million in a funding round led by Interactive Brokers, with participation from Morgan Stanley and SoFi, valuing it above US$1 billion. Last month, Morgan Stanley announced plans to launch crypto trading via E*Trade using Zerohash’s platform by mid-2026. Mastercard’s move follows its earlier competition with Coinbase to acquire stablecoin startup BVNK, though Fortune reported that Coinbase is now in exclusive talks to finalize that deal.
Starbucks Returns to Growth, But U.S. Sales and Coffee Costs Weigh on Profits
Starbucks Corp reported its first global sales growth in nearly 18 months, driven by improving performance in international markets, even as its U.S. business remained flat and soaring coffee prices pressured margins. Under CEO Brian Niccol’s “Back to Starbucks” restructuring plan, the company streamlined operations by closing stores, simplifying menus, and speeding up service. Comparable global sales rose 1%, though U.S. sales were unchanged and customer spending declined. Rising arabica coffee prices — up 20% in 2025 after a 70% jump in 2024 — continue to squeeze profitability. Fourth-quarter earnings per share came in at US$0.52, missing analyst estimates, while operating margins fell sharply to 2.9% from 14.4% a year earlier. The company closed 627 stores during the fourth quarter, including a flagship unionized roastery in Seattle, as part of ongoing restructuring efforts. In China, Starbucks’ second-largest market, comparable sales increased 2%, supported by price cuts on non-coffee items and the introduction of local flavors to attract younger consumers. However, competition from Luckin Coffee and Cotti Coffee remains intense amid China’s slowing economy. Starbucks is reportedly considering selling part of its China business to strengthen its balance sheet ahead of its January 2026 investor briefing, where new financial guidance will be unveiled. The stock has fallen about 7% year-to-date, reflecting investor caution despite early signs of recovery.
U.S. Crude, Gasoline, and Distillate Inventories Decline Sharply — EIA
U.S. crude oil, gasoline, and distillate inventories fell sharply last week, according to data from the Energy Information Administration (EIA) released Wednesday (Oct 9, 2025). Crude stockpiles dropped 6.86 million barrels to 416 million barrels for the week ended Oct. 24, far exceeding analyst expectations of a 211,000-barrel draw. Meanwhile, crude stocks at the Cushing, Oklahoma delivery hub rose 1.33 million barrels, while refinery runs fell by 511,000 barrels per day (bpd) and utilization rates declined two percentage points to 86.6%. Gasoline inventories decreased 5.94 million barrels to 210.7 million barrels, compared with forecasts for a 1.9 million-barrel drop, while distillate stocks, which include diesel and heating oil, fell 3.36 million barrels to 112.2 million barrels, versus expectations for a 1.74 million-barrel decline. Net U.S. crude imports also dropped by 1.03 million bpd, reflecting lower inbound shipments. The steep inventory draw across all categories provided a bullish signal for oil markets, reinforcing price gains seen earlier in the week.
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