Business
More than 100 lawmakers push Starbucks to resume union negotiations
Starbucks workers and supporters practice picket outside a Starbucks location in New York, US, on Wednesday, Oct. 1, 2025.
Michael Nagle | Bloomberg | Getty Images
More than 100 lawmakers urged Starbucks to resume bargaining talks with Workers United, the union representing the coffee giant’s baristas, in letters sent to CEO Brian Niccol on Monday.
The two letters, from the Congressional Labor Caucus and a group of senators led by Sen. Bernie Sanders, I-Vt., come as the union threatens a strike in 25 cities starting Thursday. That coincides with Starbucks’ Red Cup Day, one of its biggest sales days of the holiday season.
“It is clear that Starbucks has the money to reach a fair agreement with its workers,” the Senate letter, signed by 26 lawmakers, reads. “Starbucks must reverse course from its current posture, resolve its existing labor disputes, and bargain a fair contract in good faith with these employees.”
A second Congressional Labor Caucus letter is signed by 82 lawmakers.
The lawmakers argued the coffee giant has the resources to increase workers’ pay and benefits, citing Niccol’s $95 million compensation since his hiring. The company said $90 million of the compensation package was in the form of stock awards to cover equity Niccol left behind at Chipotle when moving to Starbucks to take the CEO role.
Senator Bernie Sanders (I-VT) speaks to reporters outside the Senate Chamber of the US Capitol Building on Nov. 8, 2025 in Washington, DC.
Aaron Schwartz | Getty Images
Last week, Workers United said its strike authorization vote won a 92% approval from its members. If the union decides to strike, it would be open-ended. Workers United is pushing for improved hours, higher wages and the resolution of hundreds of unfair labor practice charges against the company.
The two parties are not in active contract talks after discussions fell apart late last year. Starbucks and the union entered into mediation in February, and hundreds of barista delegates voted down the economic package Starbucks proposed in April.
Both sides have pointed blame for failure to reach a bargaining agreement at the other party and say they’re ready to negotiate.
Workers United, which began organizing at Starbucks in 2021, says it now represents more than 12,000 workers across more than 650 stores. The company last week told CNBC that the union only represents 9,500 workers at 550 cafes.
Starbucks Workers United spokesperson Michelle Eisen said in a statement last week, “We want Starbucks to succeed, but turning the company around and bringing customers back begins with listening to and supporting the baristas who are responsible for the Starbucks experience. If Starbucks keeps stonewalling, they should expect to see their business grind to a halt. The ball is in Starbucks’ court.”
In response to the strike vote results last week, Starbucks said it will be ready to serve customers across its nearly 18,000 company-operated and licensed stores this holiday season.
“As everybody knows, Starbucks offers the best job in retail, including more than $30 an hour on average in pay and benefits for hourly partners. Workers United, which represents only 4% of our partners, chose to walk away from the bargaining table. We’ve asked them to return—many times. If they’re ready to come back, we’re ready to talk. We believe we can move quickly to a reasonable deal,” Starbucks spokesperson Jaci Anderson told CNBC in a statement Monday.
In a letter to workers addressing the strike authorization vote last week, Sara Kelly, chief partner officer at Starbucks, echoed the belief that an agreement could be reached swiftly.
“For months, we were at the bargaining table, working in good faith with Workers United and delegates from across the country to reach agreements that make sense for partners and for the long-term success of Starbucks,” Kelly said. “We reached more than 30 tentative agreements on full contract articles.”
“Our commitment to bargaining hasn’t changed,” she added. “Workers United walked away from the table but if they are ready to come back, we’re ready to talk. We believe we can move quickly to a reasonable deal.”
Reuters earlier reported on the letters from lawmakers.
— CNBC’s Amelia Lucas contributed to this report
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Gold, Silver likely to consolidate in coming week amid Fed rate-cut uncertainty: Analysts – The Times of India
Precious metal prices are expected to remain volatile and witness further consolidation in the coming week as investors track key US economic indicators, including inflation data, GDP readings and signals from the Federal Reserve, analysts said.Traders are also likely to monitor US labour market data, the minutes of the Federal Open Market Committee (FOMC) meeting and speeches from Fed officials for clarity on the timing and pace of potential rate cuts, as per news agency PTI.
Volatility to persist on US GDP, PCE data
Pranav Mer, vice president, EBG – commodity & currency research at JM Financial Services Ltd, said gold and silver prices may continue to witness consolidative moves, though volatility is expected to persist.“Gold and silver prices may continue to see more consolidative moves but volatility will prevail with focus on incoming US data on GDP and the Personal Consumption Expenditures (PCE) inflation numbers and Federal Reserve official’s commentary,” he said, as per PTI.On the domestic front, silver futures on the Multi Commodity Exchange (MCX) declined Rs 5,532, or 2.2 per cent, over the past week, while gold rose Rs 444, or 0.3 per cent.
Gold corrects sharply in February
Prathamesh Mallya, DVP – research, non-agri commodities and currencies at Angel One, said gold prices have corrected in February.“Gold prices have fallen in February 2026, with prices correcting from highs of Rs 1,80,000 per 10 grams to around Rs 1,53,800 per 10 grams as on February 13,” he said, as per PTI.He attributed the weakness to stronger-than-expected US employment data, which has reduced expectations of near-term rate cuts and weighed on gold prices in the past week.“However, the yellow metal’s safe haven appeal remains intact on account of geopolitical tensions, and strong buying ahead of the Lunar New Year. It’s a tug of war between bears and bulls this week, and the volatility will continue in the week ahead,” Mallya added.
International trends and market drivers
In the international market, Comex gold futures gained $84, or 1.7 per cent, during the week, while silver edged up marginally to close at $77.27 per ounce.Mer said gold prices moved between gains and losses through most of the trading sessions but managed to end the week higher.“Gold prices see-sawed between gains and losses for most part of the trading session, but managed to close the week in positive and above $5,000 per ounce in the overseas market.“The bullions are passing through a phase of consolidation amid a lack of clarity among traders as they remain divided over the price direction and look for fresh fundamental triggers,” he said.Analysts noted that central bank buying, safe-haven demand amid a sharp sell-off in global technology and AI stocks, and a softer dollar index provided support to bullion prices.However, mixed physical demand from India and China, profit-booking by ETF investors and strong US macroeconomic data capped the upside.Mer said silver also experienced two-way price movements during the week.“The white metal was weighed by corrections in industrial metals and profit-booking after failing to breach key technical resistance. It also faced pressure from the tech-led global equity sell-off, which reduced risk appetite across asset classes,” he added.Analysts said both gold and silver are likely to remain range-bound in the near term as investors await clearer signals on the Federal Reserve’s monetary policy trajectory and broader global economic trends.
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