South Korea ex-leader Yoon returns to jail as court grants warrant

July 10, 2025 | 6:07 pm

SOUTHKOREA-POLITICS-YOON — Former South Korean President Yoon Suk Yeol arrives at a court to attend a hearing to review his arrest warrant requested by special prosecutors in Seoul, South Korea on July 9. — REUTERS/KIM HONG-JI/POOL

SEOUL — Former South Korean President Yoon Suk Yeol returned to a solitary jail cell on Thursday after a court approved a warrant sought by prosecutors investigating his attempt to impose martial law last year.

The Seoul Central District Court’s decision bolstered the special counsel’s investigation into allegations that Mr. Yoon’s move in December represented obstruction of justice and abuse of power.

The court said in a statement it granted the request because of concerns Mr. Yoon could seek to destroy evidence, returning him to confinement at the Seoul Detention Center where he spent 52 days earlier in the year before being released four months ago on technical grounds.

He moved back with his wife and his 11 dogs and cats to their 164 square meter (1,765 square feet) apartment in an upscale district of Seoul. The couple’s net worth is estimated at 7.5 billion won ($5.47 million), according to a government filing.

But Mr. Yoon will now be housed in a 10 square-meter solitary cell and sleeping on a foldable mattress on the floor without an air conditioner, an official at the detention center and media reports said.

With a heat wave gripping the country, Mr. Yoon will have to rely on a small electric fan that switches off at night, Park Jie-won, an opposition lawmaker who had been incarcerated there, said on a YouTube talk show.

The detention facility served breakfast of steamed potatoes and mini cheese bread for inmates on Thursday, another official said.

The conservative politician faces criminal charges of insurrection over his martial law decree, which could carry a sentence of life in prison or death.

YOON SKIPS COURT HEARING
Hours after he ended up in jail, the court held a hearing on Thursday morning for his insurrection trial, but Mr. Yoon did not attend.

His lawyers told the court that he was unable to go to the hearing due to health issues, the Yonhap News Agency reported.

The Constitutional Court ousted Mr. Yoon as president in April, upholding parliament’s impeachment for the martial law bid, which shocked South Koreans and triggered months of political turmoil.

The special prosecution team launched its investigation after new leader Lee Jae Myung was elected in June, and it has been looking into additional charges against Mr. Yoon.

The special counsel team is now expected to speed up its probe into allegations, including whether Mr. Yoon hurt South Korea’s interests by intentionally inflaming tensions with North Korea.

The team plans to question Mr. Yoon on Friday, informing his wife and lawyers about his detention via letters, Park Ji-young, a deputy to the special counsel, told reporters on Thursday.

Mr. Yoon attended the court hearing on Wednesday on the detention warrant, wearing a dark navy suit and a red tie, but did not answer questions from reporters.

His lawyers have denied the allegations against him and called the detention request an unreasonable move in a hasty investigation.

More than 1,000 supporters rallied near the court on Wednesday, local media reported, waving flags and signs and chanting Mr. Yoon’s name in searing 35 degrees Celsius (95 degrees Fahrenheit) heat.

In their warrant request, prosecutors said Mr. Yoon poses a flight risk, local media reported. — Reuters

Rubio makes first visit to Asia as Trump tariffs loom

July 10, 2025 | 6:06 pm

AESAN-MALAYSIA-USA — US Secretary of State Marco Rubio deplanes upon arriving at Subang Air Base, near Kuala Lumpur, Malaysia on July 10. — MANDEL NGAN/POOL VIA REUTERS

KUALA LUMPUR — US Secretary of State Marco Rubio will meet with Southeast Asian counterparts on Thursday in his first visit to Asia since taking office and will try to reassure them the region is a priority for Washington, even as President Donald J. Trump targets it in his global tariff offensive.

Washington’s top diplomat will meet foreign ministers of the 10-member Association of Southeast Asian Nations (ASEAN) gathered in Kuala Lumpur and also hold talks with Russian Foreign Minister Sergei Lavrov who is in the Malaysian capital, according to the US State department.

Rubio’s trip is part of an effort to renew US focus on the Indo-Pacific and look beyond the conflicts in the Middle East and Europe that have consumed much of the Trump administration’s attention, with Mr. Rubio balancing dual responsibilities as secretary of state and national security adviser.

However, Mr. Trump’s global tariff strategy is likely to cast a shadow over the trip, after the president announced steep tariffs to take effect on Aug. 1 on six ASEAN members, including Malaysia, as well as on close Northeast Asian allies Japan and South Korea.

Mr. Rubio will nevertheless seek to firm up US relationships with partners and allies, who have been unnerved by the tariffs, and is likely to press the case that the United States remains a better partner than China, Washington’s main strategic rival, experts said.

“This is significant, and it’s an effort to try to counter that Chinese diplomatic and economic offensive,” said Victor Cha, president of the geopolitics and foreign policy department at Washington’s Center for Strategic and International Studies.

Mr. Rubio will also meet with Mr. Lavrov later on Thursday, according to the US State department schedule. It would be the second in-person meeting between Mr. Rubio and Mr. Lavrov and comes at a time when Mr. Trump has grown increasingly frustrated with Russian President Vladimir Putin as the war in Ukraine drags on.

China’s Foreign Minister Wang Yi is also expected to join talks from Thursday, but it was unclear if Mr. Rubio would meet with him.

‘BETTER LATE THAN NEVER’
A senior US State department official told reporters on Monday that among Mr. Rubio’s priorities on the trip was reaffirming Washington’s commitment to the region, not just for its sake but because it promotes American prosperity and security.

“It’s kind of late, because we’re seven months into the administration,” Mr. Cha said of Mr. Rubio’s trip. “Usually, these happen much sooner. But then again, it is an extraordinary circumstance. But I guess better late than never.”

Security cooperation is a top priority, including the strategic South China Sea, and combating transnational crime, narcotics, scam centers, and trafficking in persons, said the State department official, speaking on the condition of anonymity.

As well as their unease about Mr. Trump’s tariff policies, many in the Indo-Pacific have doubts about the willingness of his “America First” administration to fully engage diplomatically and economically with the region.

Mr. Trump said this week he would impose a 25% tariff on Japan and South Korea and took aim at ASEAN nations, announcing a 25% levy on Malaysia, 32% on Indonesia, 36% on Cambodia and Thailand, and 40% on Laos and Myanmar.

Mr. Trump has also upset another key Indo-Pacific ally, Australia, which said on Wednesday it was “urgently seeking more detail” on his threat to raise tariffs to 200% on pharmaceutical imports.

According to a draft joint communique seen by Reuters, ASEAN foreign ministers will express “concern over rising global trade tensions and growing uncertainties in the international economic landscape, particularly the unilateral actions relating to tariffs.”

The draft, dated Monday, before the latest US tariff rates were announced, did not mention the United States and used language similar to an ASEAN leaders’ statement in May. Both said tariffs were “counterproductive and risk exacerbating global economic fragmentation.”

The State department official said Mr. Rubio would be prepared to discuss trade and reiterate that the need to rebalance US trade relationships is significant.

The export-reliant ASEAN is collectively the world’s fifth-biggest economy, with some members beneficiaries of supply chain realignments from China. Only Vietnam has secured a deal with Mr. Trump, which lowers the levy to 20% from 46% initially. — Reuters

Taiwan shows off new US tanks as annual war games intensify

July 10, 2025 | 6:05 pm

TAIWAN-DEFENCE — A soldier salutes Taiwan president Lai Ching-te in front of US-made M1A2T Abrams tanks after taking part in live-fire exercises in Hsinchu, Taiwan on July 10, 2025. — REUTERS/ANN WANG

TAIPEI/HSINCHU — Taiwan’s army on Thursday displayed the fire power of its first US-sourced M1A2T Abrams tanks — a traditional weapon that analysts say will need to be increasingly protected against drones in any future battle given lessons from the Ukraine war.

Four Abrams tanks were shown maneuvering across a mud-choked army training ground in Hsinchu county, firing at moving and static targets, on the second day of Taiwan’s annual military exercises that are designed to test the island’s resilience in a conflict with China.

Wearing a combat helmet, President Lai Ching-te observed the firing, saying later that with “every increase in the military’s combat power, the nation and its people gain an extra layer of security.”

“Whether in terms of strike capability or mobility, it was extremely powerful — undoubtedly the strongest tank on the battlefield,” Mr. Lai said.

Senior military officials in Mr. Lai’s government say they intend the comprehensive 10-day drills to show both China and the international community, including its key weapons supplier the US, that Taiwan is determined to defend itself against any China attack or invasion.

China views the democratically governed island as its own and has intensified military pressure around Taiwan over the last five years.

Mr. Lai’s comments also come ahead of a recall parliamentary election on July 26 that could see his ruling Democratic Progressive Party (DPP) take back control of the legislature.

The tanks are among the first batch of 38 Abrams main battle tanks delivered in December, with the rest of the 108 ordered by Taiwan due to be delivered later this year and next year.

They marked Taiwan’s first new tanks for 24 years.

Analysts and regional military attaches say that while the Abrams remains a potent and highly adaptable weapon that would help Taiwan defend its cities and coasts in an invasion scenario, Taiwan will have to leverage its counter-drone technology to protect them.

Both Russian and Ukrainian tanks, including US Abrams supplied to Kyiv, have reportedly proven vulnerable to drones and advanced anti-tank weapons.

The tanks have yet to be fully commissioned, and Wednesday’s test firing was not a formal part of the drills, which are designed to replicate full battle conditions at sea, on land and in the skies, military officials said.

Singapore-based military scholar Thomas Lim said he expected Taiwan would attempt in a war scenario to cover their “prized assets” with counter drone elements or also deploy them from high positions for extra protection.

“This isn’t straightforward… but it isn’t a problem unique to Abrams,” said Lim, of Singapore’s S. Rajaratnam School of International Studies.

President Lai said that he believed that through “realistic combat training,” the M1A2T tank will “be able to integrate with drones and innovative tactics to more effectively fulfill the nation’s strategic objectives.”

China’s Defense Ministry on Tuesday said that Taiwan’s drills were “nothing but a bluff.” — Reuters

Integrating sustainability in the entire value chain

July 10, 2025 | 5:31 pm

“Epson’s headquarters develops products with sustainability features such as low power consumption and paper-saving functions, says Masako Kusama, president and director of Epson Philippines Corporation.

Its manufacturing facility in Batangas, Philippines, meanwhile, operates on 100% renewable energy. The company is also on track to reducing its total emissions in line with the 1.5-degree Celsius scenario by 2030, Ms. Kusama told BusinessWorld.

In this interview, she shares how Epson embeds sustainability in its value chain. She also talks about the heightened awareness Filipino c-suite executives have in combatting climate change.

Interview by Patricia Mirasol
Video editing by Jayson Mariñas

Data, dialogue, and direction: FEU Public Policy Center joins women leaders in shaping a more inclusive future

July 10, 2025 | 2:30 pm

What does it take to shape a future where leadership is equitable, inclusive, and sustainable in our social and institutional systems?

That was the central question at “Breaking Barriers: Women Leading in Business and Beyond,” a forum organized by the Nextgen Organization of Women Corporate Directors (NOWCD) on June 23 at the BPI Wealth Lounge in Makati City. The event brought together leaders from business, government, and academia to reflect on the progress of women’s leadership and the structural changes needed to support it.

At the forefront of the conversation was the Far Eastern University (FEU) Public Policy Center, whose participation affirmed the University’s long-standing commitment to research, inclusion, and future-ready leadership.

Julia Andrea Abad, executive director of the FEU Public Policy Center, moderated a dynamic panel discussion with Mariana Zobel de Ayala of Ayala Land, Robina Gokongwei-Pe of Robinsons Retail, Col. Francel Margareth Padilla of the Armed Forces of the Philippines, and Political Science Professor Dr. Jean Franco of UP Diliman. Together, they explored the lived realities of women in leadership, the role of mentorship, and how institutions can evolve to foster greater diversity at the top.

“Sustainability includes building systems that empower people equitably and evolve with the times,” Ms. Abad noted. “True progress requires dismantling the barriers that keep leadership from reflecting the diversity of our society.”

A key moment in the forum was the research presentation delivered by Patricia Thea Basilio, data analyst at the FEU Public Policy Center. Drawing from their 2024 College Experience Survey, Basilio shared findings on gender attitudes among Filipino college students. The study revealed that sexist views remain prevalent among young people, especially males, and are often linked to higher interest in leadership roles. These raise important concerns for the country’s future leadership landscape.

“We found that many of those aspiring to lead still hold beliefs that could limit the very inclusivity they are meant to champion,” Ms. Basilio said. “This calls for deeper reflection on how we cultivate both skills and values in our future leaders.”

Representing FEU’s senior leadership at the event was Gianna Montinola, consultant for external affairs, who introduced keynote speaker Mariana Zobel de Ayala. Ms. Montinola’s involvement highlighted FEU’s broader institutional advocacy for diversity, equity, and inclusion across sectors.

“Inclusive leadership doesn’t happen by accident. It requires intention, investment, and collaboration,” Ms. Montinola said. “As an academic institution, FEU takes this responsibility seriously, both in what we teach and in the research we pursue.”

Bringing the lone academic research voice to the table, FEU contributed a unique perspective that blended empirical insights with practical recommendations for cultivating inclusive leadership in a changing world. The event closed with a call to continue building networks that support women not only in reaching leadership roles, but in thriving within them.

As for the university, the work continues: generating data that matters, fostering dialogues that challenge norms, and preparing students to lead with both competence and values.

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UK scheme to help exploited migrant carers is failing, charity says

July 10, 2025 | 11:04 am

hospice-1750928_1920 — STOCK PHOTO | Image by 🆓 Use at your Ease 👌🏼 from Pixabay

LONDON – A multi-million-pound British government scheme to help exploited migrant care workers find new work has largely failed due to barriers including high visa costs, research showed on Thursday.

The research by the London-based Work Rights Center comes after the charity found last month that only 3.4% of the more than 27,000 carers who were contacted through the so-called rematching scheme had found work.

Nearly a third of carers in England – workers who support the elderly and other vulnerable people – are migrants. Many have faced abuse or exploitation since arriving to fill severe labor shortages following Britain’s exit from the EU.

Charities have called on the government to reform work visas, which are tied to employers or “sponsors”, which they say creates a power imbalance that leads to exploitation, including fraudulent fees being charged, debt bondage and modern slavery.

The government launched the 16 million pounds ($22 million) scheme last year to support migrant care workers who found themselves out of a job after sponsorship licenses were revoked from care firms amid a crackdown on exploitation. The government had no specific target set for how many workers would be helped.

The Work Rights Centre said that exploited migrant workers, often facing financial constraints, were unable to afford the high visa costs required to move into a new job through the scheme, or meet the expectation from employers that they have access to a car in order to visit private homes.

“A slim chance at obtaining a new job cannot be the only thing this government offers in compensation for the exploitation and debt victims have suffered due to ministers’ refusal to reform this flawed visa scheme,” said Work Rights Centre Policy Manager Adis Sehic.

Other barriers to finding jobs through the scheme included a lack of awareness of its existence, the inability of workers to get references from employers with revoked licenses and strict English-language requirements from employers, the charity said. – Reuters

Cyber crime and real-world crime are converging in a dangerous new way – here’s how to stay safe

July 10, 2025 | 11:00 am

Cybersecurity-hacker — STOCK PHOTO | Image from Freepik

THE CONVERSATION

Disclaimer: This asset – including all text, audio and imagery – is provided by The Conversation. Reuters Connect has not verified or endorsed the material, which is being made available to professional media customers to facilitate the free flow of global news and information.

By Jongkil Jay Jeong, Senior Fellow, School of Computing and Information System, The University of Melbourne, Ashish Nanda, Research Fellow, Deakin Cyber Research and Innovation Centre, Deakin University, and Peter Thomas, Director, Centre for Future Skills and Workforce Transformation, RMIT University

It starts with a call from someone claiming to be your bank. They know your name. They know your bank. They even know your credit card number. There’s been “unusual activity” on your account, they say – and they just sent you a one-time passcode to verify your identity so they can assist.

You read out the code and feel reassured. Moments later, your funds are gone and the bank refuses reimbursement, citing a breach of terms because you voluntarily shared your passcode.

This is not a niche or isolated scam. It’s part of a growing pattern we’re seeing across Australia and beyond: cyber criminals are merging digital and real-world tactics in ways that make these frauds more convincing, harder to stop, and far more damaging.

It starts with stolen data

These scams don’t begin with a phishing email or fake app. They begin with data – your data – stolen in one of countless breaches, such as the latest Qantas incident that exposed the details of up to 5.7 million customers.

Sometimes the personal data has been sold through third-party data brokers. Names, phone numbers, emails, even card details are routinely leaked and traded online.

Once they have this information, scammers get to work. The phone call mimics a real interaction with a bank, perhaps with a spoofed caller ID. Victims are pressured in urgent language to “verify” their identity, often by reading out a one-time passcode that, unbeknownst to them, is authorizing a transaction using their own card details.

We refer to this as a “convergence scam” – where online data leaks, psychological manipulation and weak enforcement come together. It’s a sophisticated hybrid of digital theft and physical-world exploitation, and it’s on the rise.

Devastating and personal

These scams are deeply personal and can be financially devastating. But what makes them even more alarming is the system-wide failure surrounding them.

For starters, many credit card fraud insurance policies contain clauses that exclude coverage when the customer “voluntarily” provides account credentials – including one-time passcodes – even if they did so under duress or deception.

One victim we spoke to lost nearly A$6,000 after a scammer posing as their bank prompted them to read out a passcode over the phone. The transaction was verified using that code, and the bank later refused to reimburse the loss.

In a formal response, the bank stated that by voluntarily sharing the one-time passcode, the customer had breached the e-payments code, even though they were manipulated into doing so. As a result, the customer was held liable and ineligible for a chargeback.

Law enforcement may not help

Even when the criminals leave a physical trail, follow-up is rare. Law enforcement rarely investigates. In the cases we’ve seen, reports are acknowledged but not pursued. Officers don’t explicitly say the case is too small or not worth the effort, but their inaction suggests it, especially given how resource-intensive most cyber-crime investigations tend to be.

In many instances, particularly when the total loss isn’t deemed significant, victims are simply told to follow up with their bank, based on the assumption they’ll be reimbursed.

In one case we reviewed, stolen card details were used in-store at major Australian retailers such as Woolworths and Coles – indicating that a cloned card had been physically used. These purchases could, in theory, be tracked back to in-store CCTV footage. But no investigation was launched.

This reluctance to act, even when the evidence is tangible, sends a dangerous message: that scammers can operate with near-impunity.

Meanwhile, banks and regulators are slow to update verification systems. One-time passcodes are still widely used, even though scammers now exploit them routinely. There’s little recourse for victims, and minimal accountability for data brokers whose records fuel these scams.

What can we do to protect ourselves?

For individuals, the first line of defense is simple but vital:

never share a one-time passcode or security code over the phone, even if the caller seems legitimate
if in doubt, hang up and call the bank directly using the number on your card
be cautious about where and how you share your personal information, especially online through websites or social media. Only disclose what personally identifiable information you have to.

The true answer is systemic change

Banks and other institutions need to put into place stronger identity verification systems that don’t rely solely on SMS codes. We need greater transparency and regulation of data brokers.

Crucially, we also need active enforcement of cyber-enabled fraud, especially when there’s physical evidence, such as in-store purchases and CCTV footage.

Banks should also reassess their policies and procedures on how they communicate with customers. If scam calls closely mimic real ones, it’s time to change the script. More proactive education, clearer warnings, and redesigned verification processes can all help prevent harm.

The real danger of these convergence scams isn’t just financial loss. It’s the erosion of trust: in our banks, in our security systems, and in the institutions meant to protect us. – Reuters

Rubio makes first visit to Asia as Trump tariffs loom

July 10, 2025 | 10:49 am

Photo By U.S. Department of State – https://www.flickr.com/photos/statephotos/54295399868/, Public Domain, https://commons.wikimedia.org/w/index.php?curid=160957686

KUALA LUMPUR – U.S. Secretary of State Marco Rubio will meet with Southeast Asian counterparts on Thursday in his first visit to Asia since taking office, and will try to reassure them the region is a priority for Washington, even as President Donald Trump targets it in his global tariff offensive.

Washington’s top diplomat will meet foreign ministers of the 10-member Association of Southeast Asian Nations gathered in Kuala Lumpur, and also hold talks with Russian Foreign Minister Sergei Lavrov who is in the Malaysian capital, according to the U.S. State Department.

Mr. Rubio’s trip is part of an effort to renew U.S. focus on the Indo-Pacific and look beyond the conflicts in the Middle East and Europe that have consumed much of the Trump administration’s attention, with Mr. Rubio balancing dual responsibilities as secretary of state and national security adviser.

However, Mr. Trump’s global tariff strategy is likely to cast a shadow over the trip, after the president announced steep tariffs to take effect on August 1 on six ASEAN members, including Malaysia, as well as on close Northeast Asian allies Japan and South Korea.

Mr. Rubio will nevertheless seek to firm up U.S. relationships with partners and allies, who have been unnerved by the tariffs, and is likely to press the case that the United States remains a better partner than China, Washington’s main strategic rival, experts said.

“This is significant, and it’s an effort to try to counter that Chinese diplomatic and economic offensive,” said Victor Cha, president of the geopolitics and foreign policy department at Washington’s Center for Strategic and International Studies.

Mr. Rubio will also meet with Mr. Lavrov later on Thursday, according to the U.S. State Department schedule. It would be the second in-person meeting between Mr. Rubio and Mr. Lavrov, and comes at a time when Mr. Trump has grown increasingly frustrated with Russian President Vladimir Putin as the war in Ukraine drags on.

China’s Foreign Minister Wang Yi is also expected to join talks from Thursday, but it was unclear if Rubio would meet with him.

‘BETTER LATE THAN NEVER’

A senior U.S. State Department official told reporters on Monday that among Mr. Rubio’s priorities on the trip was reaffirming Washington’s commitment to the region, not just for its sake but because it promotes American prosperity and security.

“It’s kind of late, because we’re seven months into the administration,” Mr. Cha said of Mr. Rubio’s trip. “Usually, these happen much sooner. But then again, it is extraordinary circumstances. But I guess better late than never.”

Security cooperation is a top priority, including the strategic South China Sea, and combating transnational crime, narcotics, scam centers, and trafficking in persons, said the State Department official, speaking on the condition of anonymity.

As well as their unease about Mr. Trump’s tariff policies, many in the Indo-Pacific have doubts about the willingness of his “America First” administration to fully engage diplomatically and economically with the region.

Mr. Trump said this week he would impose a 25% tariff on Japan and South Korea and also took aim at ASEAN nations, announcing a 25% levy on Malaysia, 32% on Indonesia, 36% on Cambodia and Thailand, and 40% on Laos and Myanmar.

Mr. Trump has also upset another key Indo-Pacific ally, Australia, which said on Wednesday it was “urgently seeking more detail” on his threat to raise tariffs to 200% on pharmaceutical imports.

According to a draft joint communique seen by Reuters, ASEAN foreign ministers will express “concern over rising global trade tensions and growing uncertainties in the international economic landscape, particularly the unilateral actions relating to tariffs.”

The draft, dated Monday, before the latest U.S. tariff rates were announced, did not mention the United States and used language similar to an ASEAN leaders’ statement in May. Both said tariffs were “counterproductive and risk exacerbating global economic fragmentation.”

The State Department official said Rubio would be prepared to discuss trade and reiterate that the need to rebalance U.S. trade relationships is significant.

The export-reliant ASEAN is collectively the world’s fifth-biggest economy, with some members beneficiaries of supply chain realignments from China. Only Vietnam has secured a deal with Mr. Trump, which lowers the levy to 20% from 46% initially. – Reuters

Nine months in, Starbucks CEO faces tall order in turnaround

July 10, 2025 | 10:37 am

Starbucks CEO Brian Niccol earned a reputation on Wall Street as a miracle worker for wounded restaurant brands like Taco Bell and Chipotle. Nine months into his Starbucks tenure, investors are unsure if lightning will strike a third time.

Shares jumped more than 21% on August 13, the day Mr. Niccol was named CEO, on hopes he would inject the company with new vitality after several quarters of falling sales and pressure from activist investor Elliott Investment Management. But demand has not yet reversed, Mr. Niccol has not shared any financial targets, and the stock remains sluggish. Starbucks shares closed up 0.3% on Wednesday.

Mr. Niccol’s “Back to Starbucks” initiative emphasizes a simplified menu, freshly baked goods, cups with handwritten messages, and speedier service. “The experience of the coffeehouse defines our brand,” Mr. Niccol told an audience of 14,000 store managers and leaders at a packed Las Vegas stadium in June. He said the company’s previous removal of around 30,000 seats in stores as it prioritized mobile orders hurt the business and would be reversed.

Starbucks’ global same-store sales declined 1% for the quarter ending March 30, the fifth straight quarterly contraction.

Analysis from research firm Placer.ai shows regular customers are coming in less often than before Niccol took over, said RJ Hottovy, head of analytical research. A Reuters review of the company’s analysis derived from tens of millions of cell phone location points shows average monthly visit frequency has declined in every month of 2025 compared to 2024.

The average customer visited 2.4 times in February, compared to 2.48 last February. Even a small decrease spread over millions of visitors is meaningful, Placer.ai said. “You have to win that trust back,” Mr. Hottovy said. Starbucks did not comment on Placer.ai’s analysis.

‘RESULTS WILL FOLLOW’

Mr. Niccol is accelerating staffing increases to all 10,000-plus Starbucks-owned U.S. stores by the end of the summer, rather than to just a third of U.S. stores, and he describes his changes as “cleaning up some things that have been done in the past while investing in what I think needs to happen,” he told Reuters in Las Vegas. “The earnings results will follow.”

Staffing increases will vary by store, with details to be revealed at an investor day “at some point in 2026.”

The lack of clarity is making investors hesitant. Shares have stagnated since his August 13 appointment, while the broad-market S&P 500 is up 15%. The stock’s forward price-to-earnings ratio is 33.2, a higher valuation than McDonald’s or Yum Brands YUM.N.

Dan Ahrens, portfolio manager of AdvisorShares Restaurant ETF, said his fund is currently avoiding Starbucks because of the uncertainty around the turnaround. “We’re in a ‘show-me’ stage,” he said.

When Mr. Niccol started on September 9, a narrow majority of analysts recommended buying Starbucks stock. Now, more recommend holding or selling. TD Cowen analyst Andrew Charles downgraded shares to “hold” on May 29, expecting fiscal 2026 earnings to fall short of Wall Street’s consensus.

“What the Street is trying to figure out is, what’s the lift in sales I’m going to get from this?” he said.

Bernstein analysts said on July 2 that the staffing surge will cost $1.5 billion to $2 billion in the next two years, but it expects it to reduce turnover and improve same-store sales.

TURNAROUND ARTIST

Greg Flynn, a restaurant franchisee whose company owns more than 300 Taco Bells, said Niccol “gets the credit for turning that momentum forward with a relentless parade of new product innovations and exceptional advertising and promotion” as Taco Bell CEO from 2015 to 2018.

At Chipotle, same-store sales rose from 2.2% year-over-year in March 2018 when he took over to 31% roughly three years later.

Mr. Flynn said “Back to Starbucks” follows that playbook. “Figure out what people really loved about your brand from the beginning and embrace that,” he said. “It takes discipline, it takes expenses, and it always meets a lot of opposition.”

There are critics in Starbucks’ union, Starbucks Workers United, which represents workers at more than 600 locations.

Unionized baristas staged walk-outs at dozens of stores in June to protest new dress code restrictions Mr. Niccol introduced. Michelle Eisen, a 15-year Starbucks barista who now works for the union full-time, criticized moves such as requiring visitors to pay to use the restrooms or get water, “neither of which promote a welcoming coffeehouse atmosphere.”

Starbucks said changes to its policies came out of discussions with employees and customers.

One notable Niccol fan? Former CEO Howard Schultz, who has a history of criticizing those who succeeded him. He physically embraced Niccol on stage in Las Vegas. “I have never, in my entire life at Starbucks, been more optimistic than I am today,” he said. – Reuters

Japan seeks US tariff talks during Bessent visit, Yomiuri reports

July 10, 2025 | 10:32 am

Japan flag-wc — PHILIPPINE STAR/EDD GUMBAN

TOKYO – Japan is seeking talks between tariff negotiator Ryosei Akazawa and U.S. Treasury Secretary Scott Bessent when the U.S. official visits Japan for the World Expo next week, Yomiuri newspaper reported on Thursday citing Japanese government sources.

Prime Minister Shigeru Ishiba has said Japan would continue tariff negotiations with the U.S. to reach a mutually beneficial deal after U.S. President Donald Trump raised tariffs on Japanese imports to 25% starting August 1.

Japan aims to host the first ministerial-level tariff talks with the U.S. in Japan ahead of a new negotiation deadline of August 1, the Yomiuri reported.

Japan and the U.S. previously held ministerial tariff talks seven times in Washington.

Mr. Bessent is scheduled to attend the U.S. “National Day” event on July 19 at the World Expo 2025 in Osaka, western Japan, with the U.S. delegation.

Japan is likely to seek a telephone conversation between Mr. Akazawa and Mr. Bessent before the latter arrives and an in-person meeting during the U.S. official’s stay, the Yomiuri reported. It may also seek a meeting between Mr. Ishiba and Mr. Bessent as well, the newspaper reported.

Mr. Ishiba has instructed Mr. Akazawa to focus on tariff negotiations even during the campaign period for an upper house election on July 20, Yomiuri reported. – Reuters

5 reasons why Pico de Loro Cove belongs on every eco-traveler’s radar

July 10, 2025 | 10:00 am

PHOTO-1-(Pico)-OL — Pico de Loro Cove stands as a model for sustainable coastal development, where thriving biodiversity and eco-conscious design come together in perfect harmony.

Nestled within the Hamilo Coast in Nasugbu, Batangas, Pico de Loro Cove, the premier beach resort destination, is a haven for eco-conscious travelers. Known for its stunning landscapes and commitment to sustainability, this destination also offers the perfect blend of nature, adventure and relaxation.

Here’s why Pico de Loro should be on your eco-travel bucket list:

1. A Sanctuary for Marine Biodiversity

Pico de Loro Cove is one of the 13 coves in Hamilo Coast, where 30% of the coastline is designated as a marine-protected area. These sanctuaries safeguard coral reefs and marine life, making the cove an ideal spot for snorkeling and diving. Tropical fish such as Moorish idol, clown fish, among others, can be seen underwater. And when in season, even green and hawkbill sea turtles lay eggs on the beach.

In partnership with the local government and World Wide Fund for Nature (WWF), Pico de Loro Cove actively monitors and preserves its marine protected areas, reinforcing its commitment to safeguarding marine ecosystems for generations to come.

2. Sustainable Practices at Its Core

Sustainability is embedded in Pico de Loro Cove’s operations. Eco-friendly initiatives include rainwater harvesting that is utilized in the Pico lagoon and landscape irrigation; solid waste management to properly dispose different kinds of trash to preserve the nature; and renewable energy integration to save usage of electricity in the area.

Adding to these green efforts is the resort’s sea turtle hatching and release program, which protects endangered marine species and raises awareness among guests about ocean conservation.

Over 60% of the land is also allocated for green spaces and open areas, fostering a harmonious balance between luxury and environmental responsibility.

3. Nature Trails for the Adventurous Soul

Adventure seekers will love the scenic nature trails that wind through Pico de Loro Cove’s lush landscapes. These trails invite visitors to hike up Mount Pico while enjoying panoramic views and encounters with the region’s rich flora and fauna.

As part of its biodiversity conservation efforts, Pico de Loro Cove also runs programs dedicated to protecting local wildlife. The area is home to a variety of bird species — including tarictic hornbills, brahminy kites, woodpeckers, kingfishers, and orioles — making it a vibrant birdwatching destination for nature lovers.

4. Community Engagement and Livelihood Support

Pico de Loro Cove’s commitment extends beyond preserving nature — it also uplifts local communities by hiring 80% of all the workers from Batangas. By prioritizing local employment and supporting small businesses, the development ensures that tourism benefits the communities creating sustainable livelihood opportunities.

5. Eco-Friendly Leisure and Luxury

Guests can enjoy premium amenities while embracing sustainability. The Pico de Loro Beach and Country Club offers swimming, dining and recreational activities designed with eco-conscious principles. The architecture maximizes natural light and ventilation, reducing energy consumption while enhancing the guest experience when they play pickleball and tennis. Pico de Loro Cove’s varied residential properties such as Freia, Sola and Pico Terraces foster eco-friendly designs and practices, and yet offers seclusion, security and serenity.

Whether seeking an adventure-filled getaway or a tranquil retreat, Pico de Loro Cove offers an eco-friendly escape where sustainability and comfort coexist. It’s the perfect destination for eco-travelers who want to leave a positive impact while enjoying a slice of paradise.

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Philippines plans to negotiate with US to lower tariffs, envoy to Washington says

July 10, 2025 | 8:48 am

MANILA – The Philippines is planning to negotiate with Washington to lower tariffs after the United States moved to impose higher 20% duties on goods imported from Manila, its ambassador to the United States said on Thursday.

“We are still planning to negotiate that down,” Jose Manuel Romualdez said in a phone message.

US President Donald Trump on Wednesday issued August 1 tariff notices to several trading partners including the Philippines, which he slapped with a 20% duty, higher than the previously announced 17%.

Asked what rate the Philippines is looking at, he said: “Will see.”

US goods trade with the Philippines reached an estimated $23.5 billion in 2024, according to data from the Office of the United States Trade Representative.

US exports to the Philippines stood at $9.3 billion, a 0.4% increase from 2023, while imports from the Philippines totalled $14.2 billion, up 6.9% year-over-year.

The resulting US goods trade deficit with the Philippines widened to $4.9 billion in 2024, marking a 21.8% increase from the previous year.

There was no immediate comment from the office of the Philippine president. — Reuters