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.
Nvidia posted strong quarterly results, citing strong demand and plans to significantly increase supply.
Minutes from a recent Federal Reserve meeting showed that members "expressed uncertainty about how much more policy tightening may be appropriate."
Microsoft said it detected malicious hacking activity against critical U.S. infrastructure by a Chinese state-sponsored group.
Cheddar News checks in to see what to look out for on The Day Ahead as earnings continue with reports from Gap, Best Buy, Costco Wholesale and Ulta Beauty while key economic data is also due to be released. It's also National Wine Day on Thursday.
Over 1,400 props from classic movies like Star Wars, Shawshank Redemption and Gladiator will be up for auction next month in what experts say will be one of the largest memorabilia auctions in the world.
The Consumer Federation of America released its annual list of top complaints filed with consumer agencies across the country.
Google is using new artificial intelligence models to generate descriptions for YoutTube shorts.
The European Union and Google are looking to develop a voluntary artificial intelligence pact with European and non-European companies ahead of rules to govern the technology.
The Federal Trade Commission is investigating whether baby formula makers colluded in bidding on state contracts, according to documents posted on the agency's website.
Target will stop selling some of its Pride gear over concerns about safety for its workers because of "threats."
