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November 29, 2024

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Sweden asks China to cooperate in Baltic Sea cable investigation

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Sweden has sent a formal request to China to cooperate with an investigation into suspected sabotage over the sudden disruption of two submarine internet cables in the Baltic Sea earlier this month, after tracking data linked a Chinese ship to the incidents.

“Sweden has sent a formal request to China to cooperate with Swedish authorities in order to create clarity on what has happened,” Swedish Prime Minister Ulf Kristersson told reporters on Thursday.

Kristersson also said that Sweden has asked for the Chinese ship to return to Swedish waters in order to aid its investigation. The vessel is currently anchored in international waters in the Kattegat strait between Denmark and Sweden.

The two cables – one named Arelion, which links Finland and Germany, and the other named C-Lion 1 connecting Sweden to Lithuania – were severed within 24 hours of each other on November 17 and 18.

The incidents came just weeks after the United States warned that Moscow was likely to target critical undersea infrastructure. German Defense Minister Boris Pistorius said at the time that “no one believes that the cables were accidentally damaged.”

The Swedish Prosecution Authority said last Tuesday that the country’s National Unit against International and Organized Crime had opened a preliminary investigation into suspected sabotage over the cut cables. Finland’s National Bureau of Investigation also said it had launched an investigation.

Vessel tracking data from Kpler showed that a Chinese bulk carrier had crossed the two undersea communications cables around the time that each was reported cut.

The vessel, called Yi Pen 3, had been sailing out of the Baltic Sea after a stop in the port of Vistino, Russia. The tracking data showed that it also crossed other undersea infrastructure in the Baltic, including four gas and oil pipelines, a power line and another telecommunications cable under construction.

Asked about the ship during a press briefing on Wednesday, Chinese foreign ministry spokesperson Lin Jian said he was “not aware of the situation” and that Chinese ships “abide by relevant laws and regulations.”

This post appeared first on cnn.com

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Economy

Starbucks (SBUX) Stock Analysis: Key Resistance at $103.33

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The opening of a Starbucks near South Korea’s Demilitarized Zone (DMZ) highlights the intersection of global commerce and geopolitics, showcasing the brand’s ability to establish itself even in politically sensitive locations. Positioned in an observatory in Gimpo, just 1.4 km from North Korea, the café provides patrons with a rare view of the reclusive state while enjoying the familiarity of a latte. This unique location is expected to attract both domestic and international visitors, capitalizing on the DMZ’s status as an unlikely tourist destination.

While Starbucks often tailors its expansion strategies to local cultural and economic contexts, this store’s strategic placement reflects its ambition to tap into South Korea’s thriving coffee culture while offering a distinctive experience. Tourists passing through military checkpoints and viewing North Korean territory emphasize the symbolic and literal bridging of starkly different worlds—a marketing narrative that could further boost Starbucks’ appeal.

From a business perspective, this venture demonstrates Starbucks’ commitment to innovation in location strategy, leveraging geopolitical intrigue to drive foot traffic. However, given the ongoing tensions on the Korean peninsula, the store’s proximity to such a contentious border could pose operational and reputational risks. Overall, this opening underscores the brand’s global reach and ability to find opportunity in unconventional markets.

Sturbucks Stock Chart Analysis

This 15-minute chart for Starbucks Corporation (SBUX) highlights recent price action. The stock is trading at $101.51, down 0.21% for the day. The overall trend on this timeframe shows a sharp rally early in the week, followed by a pullback and consolidation.

The chart indicates a recent high of $103.33, which may act as a key resistance level. The price retreated from this level and found support near $97.11. This bounce shows potential buyer interest around the lower levels. The recovery on the 27th suggests renewed bullish momentum but is tempered by some sideways trading in the most recent sessions.

The Relative Strength Index (RSI) is at 50.37, which reflects neutral momentum. It suggests neither overbought nor oversold conditions, indicating potential indecision among market participants.

From a technical perspective, the key zones to watch include resistance at $103.33 and support at $97.11. A break above resistance could pave the way for further upside, while a drop below support might indicate renewed bearish sentiment.

Traders may look for confirmation through volume or additional indicators, as the sideways consolidation suggests a lack of strong conviction in either direction at the moment. A breakout or breakdown is likely to set the next trend.

The post Starbucks (SBUX) Stock Analysis: Key Resistance at $103.33 appeared first on FinanceBrokerage.

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