*By Alisha Haridasani*
Nestlé's $7.1 billion partnership with Starbucks announced on Monday aims to give the Swiss company an opportunity to regain lost ground in the United States.
Under the deal, the maker of Nespresso and Nescafé will market and distribute Starbucks' packaged products, including branded coffee capsules and tea bags. In return, Starbucks will have access to Nestlé’s vast global network to gain a stronger presence in overseas markets.
In a [statement](https://www.nestle.com/media/pressreleases/allpressreleases/nestle-press-release-may-2018) Monday, Nestlé said that its alliance with the Seattle-based coffee brand will serve as “a strong platform for continued growth in North America.”
Nestlé hasn't been able to keep up with shifting consumer demands in the U.S., its [biggest market](https://www.nestle.com/investors/annual-report), where coffee-drinkers are looking for freshly brewed products rather than instant coffee, like Nescafé.
It's one reason that Nestlé invested in the high-end coffee brand Blue Bottle last year.
Nestlé's shrinking share of the coffee market is also, in part, driven by competition from JAB. The European holding company has been expanding its coffee portfolio, which now includes Keurig, Peet’s, Stumptown, and Intelligentsia, giving it a foothold in the fresh-brewed and packaged coffee markets.
Shares of both Starbucks and Nestlé rallied on Monday.
The U.S. labor agency is trying to force Starbucks to reopen 23 stores that it closed allegedly to discourage a nationwide union campaign
A surge in holiday spending could help combat inflation worries.
Peacock shared the trailer for the second season of the celebrity competition show, 'The Traitors.'
Darden, the parent company of chain restaurants like Olive Garden and Ruth's Chris Steakhouse, beat Wall Street estimates in its latest earnings report.
A former Facebook executive pled guilty to stealing more than $4 million from the company while she was employed there.
Rising safety concerns over water bead products marketed to kids have prompted major retailers like Amazon, Target and Walmart to pull some toys off their shelves.
The Congressional Budget Office said Friday it expects inflation to nearly hit the Federal Reserve's 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to rise into 2025, according to updated economic projections for the next two years.
Intel is out with a new product to challenge other big players in the space like Nvidia and AMD.
Stocks fell after the opening bell Friday but will end on another positive week.
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