Starbucks grants $96M pay package to new CEO Brian Niccol
Starbucks CEO Brian Niccol earned $96M in just four months, with 94% tied to stock awards, as the coffee giant bets on his leadership to drive growth.
Los Angeles, Chicago, and Seattle face disruptions as baristas demand better pay and conditions
The Starbucks Workers United union, representing over 10,000 baristas across 525 U.S. stores, announced strikes in Los Angeles, Chicago, and Seattle starting Friday morning. The action comes amid unresolved disputes over wages, staffing levels, and scheduling.
The union warned of escalating walkouts potentially involving hundreds of stores nationwide if agreements are not reached by December 24, a critical period for Starbucks' holiday sales.
In response, Starbucks reiterated its commitment to continued negotiations, claiming union delegates prematurely ended recent bargaining sessions.
The strikes occur as the company undergoes a transformation under CEO Brian Niccol, who aims to revive "coffee house culture" by redesigning cafes, enhancing customer service, and simplifying menus.
Labor unrest is rising across industries, with Amazon workers at multiple U.S. facilities also striking this week during peak shopping season.
On May 28, the inauguration ceremony of Lachin International Airport was held.
A car drove into crowds of Liverpool fans celebrating the club’s Premier League title in the city centre on Monday evening, injuring dozens including 4 children. A 53-year-old man believed to be the driver was arrested at the scene.
Taxi drivers across France are protesting government plans to cut payments for driving patients to medical appointments. These cuts are part of a broader effort by Prime Minister François Bayrou to save €40 billion in the 2026 budget and reduce the country’s large deficit.
EU ministers have greenlit a massive €150 billion defense investment fund—dubbed the Security Action for Europe (SAFE)—as the bloc ramps up its military readiness in response to Russia’s aggression and growing uncertainty over U.S. security guarantees.
Brazil’s economy is expected to have regained momentum in the first quarter of 2025, driven by a surge in household spending and private investment, according to a Reuters poll of economists conducted from May 21–26.
Asia’s manufacturing sector shrank in May as weak demand from China and rising U.S. tariffs hit exports and clouded the region’s economic outlook.
Germany’s economy may see growth in 2026, but only if the new coalition’s massive investment plan is effectively implemented, experts say.
President Donald Trump announced that he will increase steel tariffs from 25% to 50%, a move that could push up costs for industries relying on steel, including housing and auto manufacturing.
U.S. stocks wrapped up the week with a mixed finish after President Donald Trump accused China of breaking a recent trade agreement, reigniting global market jitters just weeks after a deal was struck in Geneva.
Volkswagen is negotiating directly with the U.S. government to ease tariffs in exchange for deeper investment commitments.
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