President Biden announcing a potential new economic strategy for allies in and around Asia. We talk to an economist for analysis. Starbucks leaving Russia after 15 years. It’s the latest retailer to exit over Moscow’s invasion of Ukraine. New business ideas could come from many places, even a bad-tasting beer. We hear from one man who set…
Biden Unveils New Indo-Pacific Pact; Retirement: How to Deal With Market Downturn | NTD Business
May 23, 2022
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Starbucks to Exit Russia Completely After 15 Years in Russian Market
Starbucks has announced it will completely exit Russia after earlier suspending its business activity in the country over the Ukraine invasion. After 15 years on the Russian market, Starbucks will permanently shutter its 130 stores in Russia and no longer have a brand presence in the country, according to a May 23 memo to employees….
California Man’s Starbucks Gift Card Lawsuit Headed to Arbitration
LOS ANGELES—A lawsuit filed by a man who alleges Starbucks Corp. in 2019 wrongfully denied him a $1.70 cash redemption for the balance on his gift card at one of its West Hollywood stores is headed to arbitration next month. Plaintiff Robert Paskey brought the suit in Los Angeles Superior Court in March 2020, seeking…
US Labor Board Accuses Starbucks of Retaliatory Firings
By Josh Eidelson From Bloomberg News Starbucks Corp. violated federal law by firing, threatening, and carrying out surveillance on union activists in New York, U.S. labor board prosecutors alleged in a complaint. The agency’s Buffalo regional director said in a filing Friday that the company illegally interfered with employees’ rights by firing six and retaliating…
Starbucks Q2 Earnings Highlights: Hits Record Q2 Revenue Despite China COVID-19 Setback, More Stores Openings Planned
Restaurant and coffee powerhouse Starbucks Corp. reported second-quarter financial results after market close Tuesday. Here are the key highlights for investors. What Happened Starbucks reported second-quarter revenue of $7.64 billion, which was up 15 percent year-over-year. The quarterly revenue was a second-quarter record for the company and came in ahead of a consensus estimate of…
Starbucks Announces Wage Increases Across US Stores but Won’t Apply to Unionized Employees
Starbucks is raising pay for employees across its stores in the United States but the wage increase won’t apply to unionized stores, the company said. CEO Howard Schultz announced the move during an earnings call on Tuesday and noted that the company will also be investing in modernized training and collaboration as well as store innovation, among other…
Capitol Report (April 22): D.C. On Edge After Shooting in Broad Daylight
April 22, 2022
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Rep. Marjorie Taylor Greene (R-Ga.) is testifying in court. When asked if Joe Biden lost the presidential election, she said, “Well, yes.” As pandemic-related restrictions continue to be rolled back, the aftermath of lockdowns is starting to show. We take a look at some of the collateral damage and speak to psychiatrist Carole Lieberman to…
Starbucks Accuses US Union of Intimidating Workers
Starbucks Inc. on Wednesday filed complaints with a U.S. labor board accusing a union organizing cafe workers across the country of bullying and intimidating workers and customers in violation of federal law. Starbucks in two complaints filed with the National Labor Relations Board said the union, Workers United, engaged in unlawful conduct during demonstrations at…
Starbucks Workers Vote to Unionize at 5 Virginia Stores
The union representing Starbucks Corp. workers has won elections at five stores in and around Richmond, Virginia, it announced on April 19, marking yet another victory for labor activists. The store on Forest Hill Avenue became the first Richmond location to vote to unionize after workers at the store voted 17–1 in favor of the union, Starbucks Workers United…
Starbucks Store in Tennessee Votes to Unionize: Workers Group
Workers at a Starbucks store in Knoxville, Tennessee, voted eight to seven to form a union on Tuesday, becoming the first of the U.S. coffee chain’s stores in the South to unionize, a spokesperson for SB Workers United said. The store became the ninth Starbucks outlet to unionize in the United States, according to the…
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