Starbucks brews up cold speciality

first_imgStarbucks has today launched Cold Brew in three central London stores, ahead of a roll-out to 30 sites. The new-format drink, which involves the process of steeping coffee grounds in cool filtered water for 24 hours, is now available in Kingsway, Great Portland Street and St Martin’s Lane. The arrival begins the roll-out of the drink and Starbucks is the first coffee chain in the UK to bring the new-style drink to the high street.To create the pure, high-quality iced beverage, baristas will use coffee beans – currently the Guatemala Antigua variety – to brew small individual batches at each store.Mark Fox, chief executive of Starbucks UK, said: “Inspired by the US West Coast, we’re proud to bring Starbucks Cold Brew to the UK. We love bringing new experiences to Starbucks customers and trialling new initiatives that get our fans excited.“We have always offered a wide range of products to make sure all of our customers can find their favourite coffee at Starbucks. As a result of our coffee innovation, it’s great to be able to bring a new coffee experience to existing customers and newcomers alike.”The launch of Cold Brew coincides with the London Coffee Festival, where Starbucks is showcasing its future design direction influenced by its Seattle Roastery. Cold Brew can be customised with flavoured syrup for sweetness, extra milk and a foam milk topping for a creamy drink.last_img read more

Credit unions help save more than 1.1 million jobs through PPP

first_img continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr According to Treasury Department data released on Monday, over 900 credit unions participated directly in the Paycheck Protection Program. Credit unions made up 18% of the program’s lending institutions yet claimed a much smaller percentage of the actual loans, underscoring the movement’s commitment to local small business borrowers.The department released data in two formats. For loans exceeding $150,000, the department identified the borrower by name and other information but provided only ranges for the loan amount — for example, $350,000 to $1 million. For loans less than $150,000, the department did not identify borrowers by name but did provide the specific loan amount.Preliminary analysis by Callahan & Associates shows credit unions in all 50 states, the District of Columbia, and five territories originated 11,424 loans exceeding $150,000, accounting for 1.73% of all loans in this bucket. Because the specific dollar amount is not included for larger loans, the total balance for loans in this category is likely between $3.24 billion and $7.91 billion.Credit unions played a larger role in lending to companies that requested less than $150,000,  originating 179,085 loans for a total of $4.67 billion. This represents 3.29% of the dollars lent in this category but 4.23% of the borrowers, indicating credit unions originated a lower average amount than their banking peers.last_img read more