1. Starbucks Bans Straws
On Monday, Starbucks reported their decision to stop using plastic straws by 2020. The straws will be replaced with lids with sipping edges that are also plastic but more easily recyclable. Plastic straws and compostable paper will still be available with blended Frappuccinos upon request. However, the transition is estimated to reduce the use of 1B plastic straws per year.
(Source: AdAge)
2. Tesla Slammed with Tariff
To retaliate against Trump administration’s 25% tariff on $34B worth of Chinese imports announced last month, China levied the same percentage on US exports. The tariff affects 545 US exports. With China’s Ministry of Commerce calling this the “the largest trade war in economic history,” we definitely saw this coming. Among the hardest hit is Tesla – the tariff raising the cost of their cars in China by over 20%. While some US exports will be canceled immediately, companies such as Harley-Davidson (the brand your dad thinks is cool) are moving some of its manufacturing overseas to compensate for the change. Trump has announced he is considering yet another round of tariffs. So, what’s next? Be on the lookout for possible upcoming price increases in both China and the US.
(Source: The Hustle)
3. Scooter Ride Sharing Wars Reach Blockchain Levels
Car-sharing. Bike-sharing. Now, scooter-sharing is the new black. Uber and Lyft are investing in different methods of transportation to expand their services. On Monday, Uber teamed up with the bright green scooter company, Lime. Lime’s main rival is Bird. Uber and Lyft are just getting started as both companies have reportedly expressed interest in crowd-sourced busing startup, Skedaddle. This is exciting news for consumers as more forms of transportation are becoming readily available. As city governments wrestle with how to regulate millions of scooters zipping around …. watch your toes.
(Source: The Hustle)
