STOCKS | Starbucks Reportedly Plans Global Capability Center in Chennai

According to a government source, Starbucks plans to set up a global capability center in Chennai, India, with the first phase expected to create about 800 jobs. Starbucks operates about 500 stores in India through a joint venture with Tata Consumer Products. The report said Walgreens signed an agreement with the Tamil Nadu government days earlier to set up a global capability center in Chennai, the state capital. Citi, Barclays, and American Express already have technology centers in Chennai.