Starbucks reported strong fiscal first quarter as holiday drinks and a viral bear cup helped drive sales.Same-store sales – or sales at locations open at least a year – rose 4% for the October-December period.That was higher than the 2.3% that Wall Street was expecting, according to analysts polled by FactSet. 4 Starbucks Chairman and CEO Brian Niccol said the results were evidence that the company’s turnaround plan is taking hold. via REUTERSSame-store sales in the US were also up 4%, with a 3% increase ...

Amazon’s latest round of layoffs is set to hit 16,000 corporate employees starting Wednesday — with the tech titan suggesting artificial intelligence will do their work, instead.The firings come after Amazon said in October it was laying off 14,000 corporate workers, with the goal of trimming its 1.58 million-strong workforce by nearly 10%.The e-commerce giant has explicitly linked the layoffs to increased use of AI, particularly in corporate and technology functions.“Some may ask why we’re reducing roles w ...

Core Viewpoint - Bank of America is supporting the US government's initiative to create tax-advantaged investment accounts for children by matching contributions and allowing pre-tax payroll deductions for eligible employees [1][3]. Group 1: Bank of America's Initiatives - Bank of America will match the US government's $1,000 contributions to Trump accounts for eligible employees [1][5]. - The bank will allow employees to make pre-tax contributions to these savings accounts for children through payroll deductions [1]. - Earlier in the year, Bank of America announced it would award approximately $1 billion in equity to all employees, excluding senior management, amounting to nearly 19 million shares of stock [3]. Group 2: Government Program Details - A new program under President Trump's One Big Beautiful Bill Act allows parents to open tax-advantaged investment accounts for children under 18 with Social Security numbers [2]. - For children born between 2025 and 2028, the US Treasury will seed these accounts with $1,000 [3]. - The government will invest the savings in low-cost index funds, but the Trump accounts do not have the same tax advantages as 529 accounts or Roth IRAs [4]. Group 3: Contribution Limits and Notable Contributions - The GOP's tax-and-spending bill limits account contributions to $5,000 per year, with employer contributions capped at $2,500 annually [6]. - Rap artist Nicki Minaj plans to contribute between $150,000 and $300,000 to help her fans set up these accounts [6]. - Michael and Susan Dell pledged a historic $6.25 billion toward Trump accounts for 25 million American children, equating to $250 per account [7][8].

Core Point - Volkswagen Group of America Inc. is recalling over 44,000 vehicles due to the risk of high-voltage battery overheating, which may lead to fire incidents [1][5]. Group 1: Recall Details - The recall includes 43,881 Volkswagen ID.4 electric SUVs from the 2023 to 2025 model years [1][7]. - An additional 670 ID.4 vehicles from the 2023 to 2024 model years are being recalled due to potential misalignment of battery cell module electrodes, which can also result in battery fires [1][7]. Group 2: Owner Instructions - Owners of the 670 affected vehicles are advised to park outside immediately after charging and should not leave their vehicles charging indoors overnight until repairs are completed [2]. - Owners are also instructed to avoid using Level 3 DC chargers and to limit the battery charge to a maximum of 80% until the remedy is implemented [2]. Group 3: Repair Process - For the 43,881 vehicles, dealers will provide free updates to the high-voltage battery software and replace the high-voltage battery as necessary [3]. - Dealers will also replace the high-voltage battery cell modules for the 670 impacted vehicles as needed [7]. Group 4: Notification Process - Owners will be notified by mail starting in March regarding the recall, and they can also contact Volkswagen customer service for further information [6].

NEW YORK — Amazon said it’s closing all of its Amazon Go and Amazon Fresh locations, as the online behemoth focuses on its grocery delivery, Whole Foods Market and a new “supersized” store concept.The Seattle-based online retailer said Tuesday in a blog post that it plans to convert some of those soon-to-be shuttered locations into Whole Foods Market stores. The company operates 57 Amazon Fresh stores and 15 Amazon Go stores.Amazon announced it’s closing all of its Amazon Go and Amazon Fresh locations. AFP ...

Core Viewpoint - United Parcel Service (UPS) announced approximately 30,000 job cuts in 2023 as part of a cost-cutting strategy and the winding down of its partnership with Amazon, following significant job reductions in the previous year [1][4][5]. Group 1: Job Cuts and Operational Changes - UPS plans to reduce operational hours by about 25 million as it decreases its reliance on Amazon [1]. - The job cuts will be achieved through attrition and a second voluntary separation program for full-time drivers [4]. - The company previously cut 48,000 jobs in 2022, including 34,000 operational roles and 14,000 in management [4]. Group 2: Strategic Shift and Financial Outlook - The announcement of job cuts was unexpected, as UPS had initially projected a total of 20,000 layoffs by 2025 [5]. - CEO Carol Tomé, who has been under pressure from investors due to the company's underperformance, is leading a multiyear turnaround plan [5]. - UPS anticipates $3 billion in total savings from ending its business with Amazon [9]. Group 3: Future Plans and Performance - UPS has identified 24 buildings for closure in the first half of 2026, with potential for more closures later this year [4]. - The company aims to enhance automation across its network as part of its operational strategy [4]. - Following the job cuts and the release of fourth-quarter earnings that exceeded Wall Street expectations, UPS shares rose by 3% [9].

Core Insights - Pinterest plans to reduce its workforce by less than 15%, translating to fewer than 780 positions, to focus on artificial intelligence roles and strategy [1][3] - The company's stock fell nearly 10% following its AI strategy announcement, indicating a lack of investor enthusiasm amid competition from TikTok and Meta-owned platforms [1][5] - Analysts suggest that the layoffs appear more defensive than strategic, lacking clear cost savings or a defined path to AI-driven revenue growth [2][7] Company Actions - Pinterest had 5,205 full-time employees as of September last year, and the job cuts will also involve closing smaller office spaces related to acquisitions [3] - The company expects pre-tax restructuring charges between $35 million and $45 million and aims to complete the restructuring plan by the end of the third quarter [7] Industry Context - Other companies, such as Autodesk, are also cutting jobs (7% of its workforce) to redirect investments towards AI initiatives, reflecting a broader trend in the tech industry [4] - The job cuts in the tech sector are part of a larger pattern, with over 123,000 employees laid off from 269 companies in 2025, as tracked by Layoffs.fyi [8]

Three of the world’s biggest tech companies face a landmark trial in Los Angeles starting this week over claims that their platforms — Meta’s Instagram, ByteDance’s TikTok, and Google’s YouTube — deliberately addict and harm children.Jury selection starts this week in the Los Angeles County Superior Court. It’s the first time the companies will argue their case before a jury, and the outcome could have profound effects on their businesses and how they will handle children using their platforms. The selectio ...

Core Viewpoint - The U.S. Treasury Department has terminated multiple contracts with Booz Allen Hamilton due to a significant data breach involving the unauthorized disclosure of tax returns of high-profile individuals, including President Donald Trump, by a former employee [1][3]. Group 1: Contract Termination and Financial Impact - The Treasury has canceled 31 contracts with Booz Allen Hamilton, which are valued at $4.8 million annually and have a total obligation of $21 million [3]. - Following the announcement, Booz Allen's stock fell more than 10%, closing down 8.11% at $108.29 [4]. Group 2: Data Breach Details - The breach was executed by former contractor Charles Edward Littlejohn, who leaked tax records between 2018 and 2020, affecting approximately 406,000 taxpayers [3][4]. - Littlejohn pleaded guilty to unauthorized disclosure of tax return information and was sentenced to five years in federal prison [4]. Group 3: Company Response and Reputation - Booz Allen has distanced itself from Littlejohn's actions, stating that the breach occurred on government systems and not its own [5][8]. - The company emphasized its commitment to ethical standards and stated it has zero tolerance for legal violations [8]. - Despite the recent scandal, Booz Allen maintains significant contracts with the Department of Defense, including a five-year, $1.58 billion agreement for intelligence analysis [9][12]. Group 4: Historical Context - Booz Allen has faced criticism for past security incidents, notably the 2013 leak by Edward Snowden, who disclosed confidential government documents while employed by the firm [10].

Core Insights - The price of gold has surpassed $5,000 per troy ounce for the first time, with spot gold trading at approximately $5,110 per ounce, while silver has surged 8% to exceed $100 per ounce, indicating a growing interest in precious metals as a safe-haven asset amid economic uncertainty [1][3][9]. Market Conditions - The US dollar has weakened, reaching a four-month low, influenced by concerns over a potential government shutdown, renewed trade tensions, and geopolitical uncertainties, prompting investors to seek hard assets like gold and silver [4][5]. - The Dow Jones Industrial Average opened up more than 150 points (0.32%), and the S&P 500 index rose by 21 points (0.3%), reflecting a modest recovery in stock markets after two consecutive weekly declines [4]. Federal Reserve Outlook - Markets are preparing for the upcoming Federal Reserve rate decision, with traders closely monitoring signals regarding future policy directions, particularly as Jerome Powell's tenure approaches its end [6][12]. - There is an expectation of a more dovish Federal Reserve policy once Powell exits, which could lead to deeper rate cuts over the next year, further supporting the appeal of gold and silver as investment options [12][14]. Investment Sentiment - Investors are increasingly viewing gold and silver not only as macroeconomic trades but also as essential portfolio hedges against rising global instability, with the potential for real yields to compress if inflation remains persistent [14][15].