Starbucks is throwing out plans to close 30 of its cafes. The closures were to have been part of a broader initiative to pare down costs and meet a more realistic growth model for the company, as recession-strapped customers have been giving up their venti cappuccinos for cheaper substitutes.

However, yesterday at the Goldman Sachs retail conference in New York, Starbucks suggested that sales are rebounding, saying some stores have shown a turnaround in their performance, and are now ‘brewing’ significant profits. In response to this news, Starbucks rallied in stock market trading yesterday, adding 4.6% to close at US$20.09.

Tags: Starbucks, Starbucks Cafe Closures

The Nairobi Coffee Exchange has reported that Kenya’s average coffee price rose 4.4% at an auction earlier today, after supplies of the beans declined amid strong demand.

$178.17 was the average price for a 50-kilogram (110-pound) bag, up from $170.58 on August 26. The top AA grade fell 1.3% to an average of $210.50 a bag (from $213.28 last week), after the quality of the grade declined. Supplies of the grade fell 51.8% to 597 bags.

Prices have reportedly edged higher because the supply is tight, and speculation is rife that there is little coffee available in the country. A drought has affected the size and volume of available beans.

Have you ever tried Kenyan coffee?

Tags: Coffee From Kenya, Kenya Coffee, Kenyan Coffee

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