*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.
Spirit Airlines canceled about 100 flights on Friday after pulling some planes out of service for inspections, and the airline expects the disruptions to last several days.
CVS Health is pulling from its shelves some cough-and-cold treatments that contain an ingredient that has been deemed ineffective by doctors and researchers.
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Tesla raised the price of its Model X plaid all-wheel drive model here in the U.S. by about 5.5%.
Elon Musk announced two new subscription tiers for people who want the premium experience. This, as some users in some countries may have to pay a very small fee to access the platform for more. Cheddar News' senior reporter Michelle Castillo explains.
A U.S. homebuyer must earn just over $114,000 to afford an average-priced home, according to a report from Redfin.
Several companies, including American Express, First Bancorp and Comerica, posted earnings Friday.
New research from Zillow finds more and more couples are adding a home fund to their wedding registries to help them buy their first home.
Rite Aid is set to close more than 100 stores with efforts currently underway to try to sell dozens of stores across a dozen states.
Social media platform X will soon have two new paid subscription tiers.
