Business

When Starbucks and its baristas union resume contract bargaining this week, workers may have renewed momentum at their backs — courtesy of the company’s own CEO. The coffee giant last month found itself reporting an objectively challenging quarter. U.S. same-store sales fell 3% and traffic dropped 7%. As a result, the company cut its 2024

A night in China’s Guizhou province at the Cliff Hotel, pictured here, starts around $83, according to Trip.com, which says the hotel was built in 2023 with 34 rooms. Nurphoto | Nurphoto | Getty Images BEIJING — Chinese travelers are increasingly opting for cheaper domestic destinations over foreign tourist spots. Only 14% of high-income households

An M&M’s advertisement seen on a gas pump. Courtesy: GSTV The next frontier for the ad market isn’t on TV — it’s at screens near points of sale. Television had long been the key target for advertisers, until tech companies such as Alphabet and Meta-owned platforms like Facebook began to gobble up market share. While

People walk by a CitiBank location in Manhattan on March 01, 2024 in New York City.  Spencer Platt | Getty Images LONDON — British regulators on Wednesday dished out a combined £61.6 million ($79 million) in fines to U.S. investment bank Citi for failings in its trading systems and controls. The fines were issued by

General Motors chair and chief executive officer Mary Barra participates in an Economic Club of Washington discussion on “the transformation of the automotive industry to an all-electric future, the path to autonomous vehicles, and the recent negotiations with GM’s workforce” in Washington, U.S., December 13, 2023.  Elizabeth Frantz | Reuters DETROIT – General Motors CEO

A top exchange-traded fund provider is betting on the long-term popularity of GLP-1 weight loss drugs. Roundhill Investments’ GLP-1 & Weight Loss ETF (OZEM), which began trading last week, pairs leaders Eli Lilly and Novo Nordisk with players developing new treatments for weight loss and diabetes. CEO Dave Mazza said his firm is capitalizing on

Chris Hemsworth stars as the villainous Dementus in Warner Bros.’ “Furiosa: A Mad Max Saga.” Warner Bros. Discovery In George Miller’s new Mad Max film “Furiosa,” a red paint flare explodes and casts the theater screen in a saturated crimson cloud. Feet away, among the rows of gyroscopic 4DX chairs, plumes of fog roll in,

Alibaba’s international e-commerce platform AliExpress is a UEFA Euro 2024 sponsor and has signed David Beckham as its global brand ambassador. AliExpress BEIJING — Soccer star David Beckham will promote Alibaba‘s international e-commerce platform, AliExpress, in its biggest global brand ambassador partnership to date, the business unit announced Monday. The deal comes against the backdrop

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions, straight to your inbox. Today’s workaholic wealthy rarely have time to sit back and read a good book — except maybe for a few weeks

Ryanjlane | E+ | Getty Images Sometimes, it pays to pay with cash.   More merchants are offering a lower price to customers who use cash rather than credit card for a purchase. That means opting for paper over plastic may save you money in some cases. Just how much? Typically, cash discounts run about

A T.J. Maxx store in Pasadena, California. Mario Anzuoni | Reuters Off-price retailers like TJX Companies and Ross are still posting sales gains and taking market share from rivals, but it’s not just because consumers are under pressure and hunting for value.  Persistent inflation and rising prices for essentials like food and gas have pushed

The DocuSign website is seen on a laptop in Dobbs Ferry, New York, April 1, 2021. Tiffany Hagler-Geard | Bloomberg | Getty Images Contract management platform DocuSign is committed to growing as a public company and is working to convince investors of its artificial intelligence potential, CEO Allan Thygesen told CNBC, after reports suggested the

The CVS pharmacy logo is displayed on a sign above a CVS Health Corp. store in Las Vegas, Nevada on Feb. 7, 2024. Patrick T. Fallon | AFP | Getty Images Pharmacy staff at two CVS retail stores in Rhode Island voted to join a new national pharmacy union on Friday, signaling growing momentum in

Michael Arougheti, Ares Management Corporation Co-Founder, CEO & President Adam Jeffery | CNBC The explosion of private credit has been met with a whole host of concerns, but among the louder ones more recently is that the industry has not experienced a downturn at scale. And therefore, what does that mean for borrowers when there’s

An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City on Dec. 11, 2023. Brendan McDermid | Reuters Eli Lilly on Friday said it is investing another $5.3 billion in a manufacturing plant in Lebanon, Indiana, to boost supply of its highly popular weight loss drug Zepbound, diabetes treatment

Avid traveler Lora Bowler is cutting back on vacation spending. That doesn’t mean she’s skipping the resort. The New York resident said she spent more in 2023 than she had expected to, including on travel, and is now reining in her expenses. She uses travel hacks and benefits to cut some of the cost, and

United Auto Workers (UAW) members and supporters on a picket line outside the ZF Chassis Systems plant in Tuscaloosa, Alabama, US, on Wednesday, Sept. 20, 2023. Andi Rice | Bloomberg | Getty Images DETROIT – The United Auto Workers union is challenging the results of last week’s organizing vote of Mercedes-Benz workers in Alabama, in

Aleksandarnakic | E+ | Getty Images You may be saving more money for retirement and not even know it. An increasing share of employers are automating how people save in their company 401(k) plans, in a bid to overcome the inertia that often keeps us from building a nest egg. “Automatic escalation” — or auto-escalation,

A recreational marijuana smoker indulges in smoking weed on April 14, 2020 in the Bushwick section of the Brooklyn borough of New York City. Bruce Bennett | Getty Images Americans are reaching for buds more than booze. Daily or near-daily marijuana use is now more common than similar levels of drinking in the U.S., according

Officials continue to conduct operation and inspect the area after the train derailment in East Palestine, Ohio, United States on February 17, 2023.  EPA | Anadolu | Getty Images Norfolk Southern has agreed to pay $310 million to settle charges over a toxic train derailment in East Palestine, Ohio, in February 2023, the company announced