The U.S. tax reform pushed by the Trump Administration has prompted many corporations to announce bonuses and wage hikes for their employees. Starbucks is one of the latest to boost its compensation and benefits package in light of the recent changes in U.S. tax law. Ron Crawford, VP of Benefits at Starbucks, was with us to discuss the company's investment in benefits.
Starbucks said the U.S. tax reform accelerated its latest investment in paid leave and wages. Had there not been tax reform, Crawford said Starbucks still would have made investments in compensation, but the timing and the extent of it may have been different. The offerings will total more than $250 million for more than 150,000 workers.
Digital apps and emerging technologies are driving more coffee runs to Starbucks, says Crawford. He believes digitization has brought more customers to its stores and boosted interactions between customers and employees. Starbucks is pumping in $7 billion of capital to build and renovate stores, manufacturing plants and technology platforms in the U.S. over the next five years.
Crab fishermen in Alaska have been scrambling to stay afloat after two years of the Bering Sea fishery being closed or severely curtailed due to plummeting crab numbers. And they're concerned that more of the same awaits this October when officials decide on catch limits for the upcoming season.
Most major car brands admit they may be selling your personal data — though they are vague on the buyers, and half say they would share it with the government or law enforcement without a court order.
Tourism-related businesses have always been at the mercy of the weather. But with heat waves, fires and storms becoming more frequent and intense, small businesses increasingly see extreme weather as their next long-term challenge.
Student loan interest payments have restarted and many questions have arisen about them. Jade Warshaw, a financial expert with Ramsey Solutions, joined Cheddar News to explain what borrowers should know and what to look out for.
