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Swiss-based food giant Nestle will pay Starbucks $7.15 billion in cash for the rights to sell the US coffee chain's products around the world in a global alliance aimed at reinvigorating their coffee empires.

The deal on Monday for a business with $2 billion in sales reinforces Nestle's position as the world's biggest coffee company tries to fortify its place atop a fast-changing market.

Nestle said it expects the deal to sell Starbucks bagged coffee and drinks adding to earnings by 2019. It will not involve any of Starbucks' cafes.

To read more about the deal, click here.

In other news:

Cheddar launches daily business news publisher story on Snapchat. The network will cover personal finance, career advice, brand innovation and cryptocurrency on the app's Discover section.

Facebook, YouTube and Twitter execs showed up at Stanford Law School to discuss fake news and hate speech, and their verdict was that people need to stop freaking out. The panelists seemed to agree that there's no easy answers to a problem they aren't certain even exists.

Peeing in trash cans, constant surveillance, and asthma attacks on the job: Amazon workers tell us their warehouse horror stories. Several Amazon staff members from across the world have described to Business Insider the intense pressure of working in a warehouse, where they pick and pack items for delivery.

ICYMI: YouTube is trying to flip its brand safety mess into an opportunity. Google Preferred was front and center at YouTube's annual Brandcast NewFronts presentation last week.

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