Starbucks Corp., the world's largest coffee shop chain, agreed to open its first stores in Brazil to further bolster its presence overseas. Starbucks formed a joint venture with Cafes Sereia do Brasil Participacoes SA, a Brazilian holding company led by local retailers, to form Starbucks Brasil Comercio de Cafes Ltda. Locations will be opened throughout Brazil, with the first shop scheduled for Sao Paulo within a year. Brazil is the No. 2 coffee-consuming nation after the U.S. and the largest producer of coffee beans.

Find out more about Starbucks' venture in Brazil at www.theglobeandmail.com.