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Food & Beverage

Starbucks raises bet on China despite coronavirus blow

Chain commits $130m to build largest overseas roaster near Shanghai

Starbucks has projected that the COVID-19 outbreak will reduce its expected revenue from China in the quarter ending March 31 by $400 million to $430 million.   © Reuters

SHANGHAI -- Shrugging off worries about the long-term impact of the new coronavirus outbreak, Starbucks Coffee has committed to invest $130 million into building its largest overseas coffee roaster near Shanghai.

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