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.
President Donald Trump is preparing a new travel ban that could block entry for people from Afghanistan and Pakistan as early as next week. The move is part of an intensified immigration crackdown.
Italy’s League party urges the government to favour Starlink over French-led Eutelsat for satellite communication systems, citing Starlink's technological edge. The push comes amid delays in the EU’s IRIS² program, as Italy seeks secure communication solutions for officials.
Ford Motor Company will recall 35,328 vehicles due to a potential fire hazard linked to faulty LED lights in the exterior mirrors, the U.S. National Highway Traffic Safety Administration (NHTSA) announced on Tuesday.
BioNTech forecasts a revenue decline for 2025, expecting between 1.7 billion and 2.2 billion euros, down from 2.75 billion euros last year. This drop is due to Pfizer write-downs and stable vaccination rates. BioNTech also plans significant job cuts and new hires.
EU lawmakers raised concerns about the digital euro project after a major failure in the ECB’s payment system, Target 2, which caused delays in transactions. Critics question the ECB's ability to manage the project, with some demanding improved systems before moving forward.
US stock futures dropped amid growing concerns over the impact of the Trump administration’s tariffs. Major stocks like Nvidia, Meta, Amazon, and Tesla saw losses. China’s retaliatory tariffs and rising recession fears added to market uncertainty. Bitcoin also fell 4%.
Traton forecasts slow growth for 2025 due to weak European demand and a decline in electric vehicle sales. The company expects a sales change of -5% to +5% and focuses on improving efficiency amid global economic uncertainty and geopolitical challenges.
Deliveroo exits Hong Kong, selling assets to Foodpanda due to consistent losses and market challenges. Despite efforts to expand, Hong Kong operations made up only 5% of global transactions. The company will close remaining assets and wind up its business by April 7.
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