penny

Final American Penny Is Pressed, And The Nickel Could Be Next 

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Last week, the final pennies were pressed at the US Mint in Philadelphia. While the penny will remain legal tender, banks and merchants are already reporting shortages.

The decision to end production of the penny is due to the fact that they cost around 5 cents to make, which begs the question about what’s the future for other American coinage, specifically the nickel, which has a net loss of around 9 cents per coin. 

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Nickels are made up of 75% copper and 25% nickel while pennies are copper-plated zinc; 97.5% zinc and 2.5% copper. The cost of both copper and nickel have doubled since 2016. 

The US Mint and one of its suppliers, Artazn, have been studying ways to get the cost of making a nickel down to less than 5 cents, according to Mark Weller, the executive director of Americans for Common Cents. 

The group is partially funded by Artazn, the self-proclaimed world’s largest and oldest producers of solid zinc strip and zinc products which also makes the blanks that are used by the US Mint to press coins. 

“It just so happens that copper and nickel are two of the more expensive metals you could be using,” Weller said to CNN. 

“Getting nickel production costs to close to 5 cents per coin could be completed within a year, with ‘new’ nickel that looks identical to the current nickel.” 

Like the penny, the nickel is viewed as limited in terms of its usefulness, as many Americans are using coins less often every year. 

David Smith, a professor of economics at the Graziadio School of Business and Management at Pepperdine University, stated that using cash less often would reduce the demand to drop the nickel and the cost of production. Smith himself is a coin collector who thinks there is enough nostalgia for coins in the US to slow down any move to eliminate them. 

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Weller said that getting rid of coins and attempting to move to a totally cashless economy will actually cause a slew of problems, particularly for low income consumers. 

“The move away from cash really benefits big banks and credit card companies. They’re charging businesses every time someone swipes their cards, and those costs end up being passed onto consumers.”

Many merchants are looking to Congress to pass legislation to give them a sense of direction when it comes to the current shortage of pennies, as well as the future when it comes to rounding purchases to the nearest 5 cents should they not have a high supply of the coin. 

However, a study done by the Federal Reserve Bank of Richmond performed this year found that rounding purchases to the nearest nickel would actually cost Americans a total of $6 million a year. 

Both Weller and Smith told the publication that they don’t see the nickel being discontinued anytime soon. The Mint has lost money on every penny and nickel it’s made since 2006, and only this year, nearly 20 years later, did they decide to stop producing pennies. 

“I’ve had reporters calling me about the future of the penny for the last 30 or 35 years. So I don’t see there being an immediate change,” Weller said.

credit card

Visa and Mastercard Settle 20-Year Swipe-Fee Dispute With Merchants

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Visa and Mastercard have reached a revised settlement with U.S. merchants who spent two decades accusing the card giants and their partner banks of inflating fees to process credit card payments. The new agreement comes months after a federal judge dismissed an earlier $30 billion proposal, calling it insufficient.

The latest accord aims to end the long-running antitrust battle that began when merchants claimed the card networks conspired to maintain high “swipe fees,” also known as interchange fees. These fees are paid each time a customer swipes or taps a card.

Under the new proposal, Visa and Mastercard would reduce swipe fees, which typically range from 2% to 2.5% by 0.1 percentage point for a period of five years.

Merchants would also gain the right to choose which types of cards to accept. Categories include commercial cards, standard consumer cards, and premium or rewards cards.

Rates for standard consumer cards would be capped at 1.25% for eight years, a reduction of more than 25%. Businesses would also have expanded options to add surcharges when customers pay with credit cards.

Despite the new concessions, some of the nation’s largest merchant groups argue that the deal still falls short of their expectations.

The National Retail Federation (NRF) and the Merchants Payments Coalition, among others, have voiced strong opposition, insisting the settlement fails to address the very concerns that led U.S. District Judge Margo Brodie in Brooklyn to reject the previous version in June 2024.

The previous $30 billion proposed settlement had promised a modest 0.07 percentage point reduction in fees over five years, along with more leeway for merchants to impose surcharges.

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Judge Brodie dismissed that version as insufficient, saying it would still leave fees above competitive levels and describing the projected $6 billion in annual merchant savings as “paltry.”

She also criticized the plan’s continuation of the controversial “Honor All Cards” rule, which forces merchants to accept every Visa and Mastercard product—or none at all.

Merchants have also long accused the networks of using “anti-steering” rules to prevent them from encouraging customers to choose cheaper payment methods.

Stephanie Martz, general counsel for the NRF, pointed out the unique position of power that card companies hold over businesses.

“You can’t just suddenly tell more than 80% of your card customers you’re not going to take their cards. You would lose a lot of business.”

According to NRF data, swipe fees in the U.S. totaled $111.2 billion in 2024, up from $100.8 billion in 2023, and roughly four times higher than in 2009.

“This is the third attempt to settle this case, and the card industry either just doesn’t get it or just doesn’t care. Once again, this proposal is all window dressing and no substance. The reduction in swipe fees doesn’t begin to go far enough, and the change in the honor-all-cards rule would accomplish nothing. If the courts can’t fix this, it’s time for Congress to take action.”

Although the overall settlement value has not been disclosed, it’s expected to exceed the earlier deal.

In a statement to CNN, Visa, headquartered in San Francisco, said the agreement will ultimately give businesses more agency over their payment structures.

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“After more than 20 years of litigation, Visa and Mastercard have reached a proposed settlement with U.S. merchants of all sizes that would provide meaningful relief, more flexibility and options to control how they accept payments from their customers.”

Mastercard, based in Purchase, New York, echoed the sentiment, noting that “smaller merchants will gain in this settlement – more acceptance choices, reduced costs and simplified rules.”

“Even more, it allows us to focus our energies on continuing to give consumers, small businesses, and larger merchants what they expect from Mastercard – a better payments experience, strong value and peace of mind,” the company told Fox Business.

Neither company admitted wrongdoing as part of the deal. Shares of both card networks rose less than 1% in morning trading.

While retailers remain skeptical, the Electronic Payments Coalition, which represents major card issuers such as Bank of America, Chase, Capital One, and Citibank, is firmly in support of the settlement.

Its executive chairman, Richard Hunt, said the accord would actually reduce swipe fees more effectively than a bipartisan Senate bill proposed by Sen. Richard Durbin (D-Ill.) and Sen. Roger Marshall (R-Kan.), legislation that much of the banking industry opposes.

“You tell me the last time Walmart reduced any of its prices by more than 25%, and kept it for eight years.”

However, Doug Kantor, general counsel for the National Association of Convenience Stores and a member of the Merchants Payments Coalition’s executive committee, argued the deal doesn’t go far enough.

The settlement doesn’t give banks any incentive to lower rates, Kantor said. It lets Visa and Mastercard, “without any limitation,” raise theirs. “Merchants ought to be able to negotiate and get prices set with different banks, but this settlement prohibits that.”

shein

Shein’s Paris Launch Sparks Outrage Over Fast Fashion and ‘Childlike’ Sex Dolls

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In the global capital of fashion, the arrival of the Chinese ultra-fast fashion giant Shein has sparked a storm. The brand plans to open its first-ever permanent store on Wednesday inside BHV, one of the best-known department stores in Paris. But instead of applause, Shein’s debut has been met with outrage, not only for its reputation for cheap, disposable clothing, but also for a shocking scandal involving the sale of “childlike” sex dolls.

The backlash has been going on for weeks. On Tuesday, Paris Deputy Mayor Nicolas Bonnet-Oulaldj stated that “The city of Paris reaffirms that Shein is contrary to its values.”

“We ask the Minister of the Economy to go further than just making threats and to ban the Shein platform in France.”

The controversy has divided France’s retail scene. Both Galeries Lafayette and BHV belong to the Société des Grands Magasins (SGM) group, but Lafayette issued a rare public rebuke in late October, condemning the decision to host Shein, calling the brand “in contradiction with their offer and their values.”

In response, SGM reportedly ordered five Galeries Lafayette locations to rebrand as BHV, a move seen as a major blow to Lafayette’s legacy.

“Our capital cannot become the showcase for disposable goods and exploitation,” said Ian Brossat, a Paris senator from the French Communist Party, in a statement on X.

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Facing intense scrutiny, SGM President Frédéric Merlin defended his decision on RTL radio on Tuesday, citing Shein’s immense popularity.

“We’re speaking of a brand that is regularly bought by 25 million French customers, who are today considered bad people because they buy from this platform?”

But for many in France, Shein’s image sits uneasily alongside Paris’ heritage of haute couture, where craftsmanship, exclusivity, and sustainability are prized. Critics say Shein embodies everything Paris has fought to move beyond—waste, mass production, and environmental neglect.

The irony isn’t lost on observers: Shein landing in the same city that hosted the 2016 Paris Climate Agreement feels almost symbolic of fashion’s ongoing contradictions.

Shein, often described as the face of fast fashion’s excesses, has been accused of ignoring sustainable manufacturing and contributing to massive global shipping emissions. The company insists its “on-demand” production model limits overproduction and waste, a claim skeptics call greenwashing.

Paris, meanwhile, has been working to position itself as a sustainability leader by investing in cycling infrastructure, promoting low-carbon businesses, and making environmental responsibility a central focus of the 2024 Paris Olympics.

The fallout has been swift. At least a dozen French brands, including Armor Lux and Figaret, have announced plans to pull their products from BHV in protest. Even Disneyland Paris reportedly scrapped its plans to design BHV’s iconic Christmas window displays this year.

BHV’s director, Karl-Stéphane Cottendin, appeared unfazed while speaking to BFMTV, and brushed off the departures as insignificant among the “more than 2,000 brands” sold at BHV. “Everyone is free to make their own decisions. We have no problem at all with that,” he said.

If Shein’s debut wasn’t controversial enough, a giant poster of Merlin standing beside Shein executive Donald Tang appeared on the BHV façade last week, captioned, “The poster that we shouldn’t have made?”

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The banner’s placement directly across from Paris City Hall, one of Shein’s loudest critics, made the provocation even clearer.

Shein’s Paris launch was nearly derailed days earlier by revelations that the company’s site sold “childlike” sex dolls. France’s finance minister threatened to ban Shein altogether, while the Children’s Commissioner, Sarah El-Haïry, condemned the products, calling buyers “potential predators.”

“No one has the right to buy pedo-criminal dolls. These are deliberate miniature copies of children that hold teddy bears, that wear children’s clothing.”

Prosecutors have opened investigations into Shein, Temu, AliExpress, and Wish for allegedly distributing “violent, pornographic, or degrading content accessible to minors,” and further probes into Shein and AliExpress for spreading “images or depictions of minors of a pornographic nature.”

Shein told CNN that it had banned all sex doll listings and strengthened internal controls, emphasizing that “every seller is responsible for their own listings.” Speaking to the BBC, Shein stated it “has also strengthened its keyword blacklist to further prevent attempted circumvention of product listing restrictions by sellers.” Tang further emphasized that the allegations were being taken seriously.

“The fight against child exploitation is non-negotiable for Shein. These were marketplace listings from third-party sellers, but I take this personally. We are tracing the source and will take swift, decisive action against those responsible.”

SGM’s Merlin said he had been prepared to cancel the Shein partnership after hearing about the dolls, but the swift ban convinced him to proceed. BHV’s Cottendin defended the store’s decision, arguing that scandals like this highlight “the necessity of a physical store, because in a physical store these types of situations would never have taken place.”

amazon

Amazon to Cut 14,000 Corporate Jobs as It Reshapes Workforce for the AI Era

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Amazon is preparing for a sweeping transformation driven by its adoption of artificial intelligence, and it’s starting with a major round of layoffs. The tech giant said it plans to eliminate 14,000 corporate roles this year as part of a broader effort to make the company leaner and more adaptable to rapid technological change.

In a memo to employees, Beth Galetti, Amazon’s senior vice president of people experience, said the company would continue investing in “key strategic areas” while identifying “additional places we can remove layers, increase ownership, and realize efficiency gains.”

“Some may ask why we’re reducing roles when the company is performing well. Across our businesses, we’re delivering great customer experiences every day, innovating at a rapid rate, and producing strong business results.”

Galetti emphasized that Amazon’s restructuring is designed to help realize CEO Andy Jassy’s long-held goal of operating “like the world’s biggest startup.” The company, she said, needs to stay nimble in a rapidly evolving AI landscape.

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“What we need to remember is that the world is changing quickly. This generation of AI is the most transformative technology we’ve seen since the Internet, and it’s enabling companies to innovate much faster than ever before. We’re convicted that we need to be organized more leanly, with fewer layers and more ownership, to move as quickly as possible for our customers and business.”

Amazon, which employs more than 350,000 corporate staff globally, will see about 4% of its workforce impacted by the move. The layoffs are expected to begin on Tuesday, with most affected employees given 90 days to find new positions within the company before severance packages take effect. Reuters, which first broke the news, reported the final number could reach as high as 30,000 jobs.

Jassy was candid about AI’s role in reshaping the company’s operations in a June blog post.

“As we roll out more Generative AI and agents, it should change the way our work is done. We will need fewer people doing some of the jobs that are being done today, and more people doing other types of jobs.”

He added that AI’s reach will extend far beyond Amazon. “Many of these agents have yet to be built, but make no mistake, they’re coming, and coming fast,” he said, predicting that billions of AI agents will eventually operate across industries and disciplines.

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The company’s latest round of reductions follows a difficult stretch in 2023, when Amazon slashed 27,000 positions across its human resources, retail, and AWS divisions amid what they deemed a “worsening global economy.”

Industry analysts view the latest cuts as part of Amazon’s ongoing effort to balance growth with cost efficiency. “Markets across the world are tightening at the same time as underlying costs are rising,” said Neil Saunders, managing director of GlobalData, in a note to investors.

“Amazon is not immune to this, and it needs to act if it wants to continue with a good bottom-line performance. In some ways, this is a tipping point away from human capital to technological infrastructure.”

The layoffs come amid mounting unease about AI’s long-term impact on employment, particularly for younger tech professionals. While automation promises efficiency gains, researchers have warned that fears of mass job replacement may be overstated for now.

Still, Amazon’s restructuring underscores a reality facing much of the tech world, that the push toward an AI-first future may mean fewer humans in traditional corporate roles.

buy

Survey Shows U.S. Consumer Sentiment Near Historic Lows Despite Steady Spending

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Americans’ view of the economy has sunk to near record lows. And once again, the contradiction at the heart of the U.S. recovery is back in focus. The nation’s households say they are worried, yet many are still opening their wallets.

The University of Michigan’s long-running consumer sentiment survey placed its September reading at 55.1, one of the lowest points in records that stretch back to 1952. Since the end of World War II, Americans have reported bleaker readings only a handful of times, typically in moments of profound economic stress, such as the oil shocks of the 1970s, the Great Recession of 2008, or the early months of the 2020 pandemic.

This time, the culprit looks familiar. Inflation has cooled from its peak, but fears of prices climbing again have flared after President Donald Trump announced a new round of tariffs on trucks, pharmaceuticals, and household goods, including furniture. Tariffs ripple quickly through supply chains, raising concerns that another round of price hikes is on the way, just as families had begun to catch their breath.

Households aren’t only worried about grocery bills and rent. They’re watching the labor market, too. “Consumers continue to express frustration over the persistence of high prices, with 44% spontaneously mentioning that high prices are eroding their personal finances, the highest reading in a year,” said Joanne Hsu, the survey’s director.

“Interviews this month highlight the fact that consumers feel pressure both from the prospect of higher inflation as well as the risk of weaker labor markets.”

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Jobs remain plentiful by historical standards, but the momentum is slowing. Unemployment sits at 4.3%, which is low, but no longer at the rock-bottom levels of 2022. People who lose their jobs are taking longer to find new ones. Those warning signs pushed the Federal Reserve to cut interest rates last week, its first reduction since December, in an attempt to cushion the slowdown.

The gloom does not match the cash registers. Government data show consumer spending rose 0.6% in August, or 0.4% after adjusting for inflation. That jump came in the thick of the back-to-school rush, but it’s consistent with a broader pattern. In recent years, Americans have often told pollsters they feel pessimistic, only to proceed and splurge anyway.

In 2022, when inflation hit 40-year highs and sentiment collapsed to its lowest point ever recorded, spending on travel, concerts, and restaurants surged. In 2023, when political gridlock in Washington rattled confidence, the pattern repeated. Richmond Fed President Tom Barkin summed it up on Friday.

“Recent data show consumers resumed spending over the summer, especially those with higher incomes. And why wouldn’t they? Unemployment is still low, nominal wages are still increasing, and asset valuations are near all-time highs.”

That last point is crucial. The U.S. economy is increasingly being powered by the upper tier of earners. High-income households, buoyed by rising paychecks, booming stock portfolios, and strong home values, account for the lion’s share of discretionary spending. By contrast, low- and middle-income families are squeezed hardest by everyday prices and more likely to cut back.

In a statement to CNN, Stephanie Guild, chief investment officer at Robinhood, framed it bluntly.

“It’s the higher-income people in the country who do the majority of the spending, and those are the same people who are more likely to have investments.”

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The stock market is reinforcing that divide. Major U.S. indexes have touched record highs in recent months, lifted by optimism over artificial intelligence, expectations of easier Fed policy, and solid corporate earnings. Even Trump’s tariff announcement, which sparked fears of higher consumer costs, was greeted on Wall Street with a rally strong enough to end a three-day losing streak.

That resilience has a feedback loop. Families who own equities, or have retirement accounts linked to them, report steadier confidence, Hsu noted.

“Sentiment for consumers with larger stock holdings held steady in September, while for those with smaller or no holdings, sentiment decreased.”

Guild added that the psychological comfort shouldn’t be underestimated. “With the market at record highs, despite the last few days, I definitely think it makes people feel comfortable about their savings,” she said.

The U.S. economy finds itself in a peculiar position. On paper, the fundamentals still appear solid: unemployment remains at historically low levels, spending has not collapsed, and corporate earnings are strong. Yet the narrative inside American households is sour, shaped by grocery bills, rent checks, and the daily headlines about tariffs and inflation.

Economists caution against taking sentiment as a crystal ball, as recent history has shown that gloomy surveys don’t always translate to empty shopping carts. But they also warn that if labor market weakness deepens or price increases accelerate, households could shift from complaining about the economy to actually retreating.

For now, the disconnect holds. Americans say they are bracing for the worst, but many are still living like the economy is strong.

disney

Michael Eisner Accuses Disney of Caving to Political Threats After Kimmel Show Pulled

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Michael Eisner, the man who led Disney through its renaissance era as its former CEO, is now publicly condemning the company he once ran for what he sees as a dangerous act of capitulation—the suspension of “Jimmy Kimmel Live!” after political threats from Washington.

Eisner, 83, spent 21 years at the helm of Disney, from 1984 to 2005, transforming it into the media powerhouse it is today. But on Thursday, he took to X to criticize Disney executives, saying corporate America has a duty to defend free expression even when political winds turn hostile.

“Where has all the leadership gone? If not for university presidents, law firm managing partners, and corporate chief executives standing up against bullies, who then will step up for the First Amendment?”

Although Eisner did not name names, it was Bob Iger, Disney’s current CEO at age 74, who signed off on Kimmel’s suspension alongside Dana Walden, the co-chairman of Disney Entertainment and the executive with direct oversight of ABC.

The decision came just days after FCC Chairman Brendan Carr threatened to revoke ABC’s broadcasting license following comments Kimmel made about Republican reactions to the Sept. 10 assassination of conservative activist Charlie Kirk.

Kimmel’s show was pulled on Wednesday, only two days after he accused the MAGA movement of scrambling to spin the tragedy for political gain.

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“We hit some new lows over the weekend with the MAGA gang desperately trying to characterize this kid who murdered Charlie Kirk as anything other than one of them and doing everything they can to score political points from it,” Kimmel said.

Carr, however, accused Kimmel of spreading “intentional misinformation” about the alleged killer’s political motives, a claim critics say was baseless.

Eisner, who once endorsed Iger’s return to Disney after Bob Chapek’s short-lived and rocky tenure, appeared stunned by what he viewed as a surrender to coercion.

“The ‘suspending indefinitely’ of Jimmy Kimmel immediately after the Chairman of the FCC’s aggressive yet hollow threatening of the Disney Company is yet another example of out-of-control intimidation,” he wrote.

“Maybe the Constitution should have said, ‘Congress shall make no law abridging the freedom of speech, or of the press, except in one’s political or financial self-interest.’ By the way, for the record, this ex-CEO finds Jimmy Kimmel very talented and funny.”

The backlash over Kimmel’s removal has been swift and loud. Celebrities, including Jason Bateman and Mark Ruffalo, have criticized Disney’s decision. At the same time, former and current late-night hosts, including David Letterman, Jay Leno, and Seth Meyers, have all condemned what they see as corporate cowardice. Even former President Barack Obama weighed in, reminding Americans of the constitutional protections for speech, even unpopular speech.

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Sports commentator Dan Le Batard, the former ESPN host, didn’t mince words either. On his show, he compared Disney’s move to state-controlled media, accusing Iger of bowing to political threats at the expense of journalistic freedom.

“Seeing Jimmy Kimmel not have the protection of something as powerful as Disney because corporate interests in media are filled with such cowardice that you have a situation where not even Bob Iger has the money or the power to stand up to the threat that is presently upon the shores of everyone in media because of how compromised they are by a series of mergers and money interests,” he said on his Thursday show.

“And to see Bob Iger show this kind of cowardice and bend the knee again, again with Trump, not the first time, because what happens here is once you’re a coward who’s extorted, the bully is going to keep extorting the coward.”

This marks a dramatic break in the usually polite relationship between Eisner and Iger. Until now, Eisner had publicly supported his successor, even backing Iger’s return to Disney leadership in 2024 after the turbulent Chapek era. That era of civility appears to be over as the company faces mounting criticism for prioritizing political expediency over free expression.

starbucks

Starbucks Workers Continue To Fight For Union Contracts One Year After New CEO Took Office 

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Brian Niccol became the CEO of Starbucks one year ago. When he took the job, he promised to make changes for the workers and their fight for unionization. However, the union and Niccol are still at odds, according to the workers, and what’s been` referred to as one of the most successful corporate union drives in recent history, has been stalling. 

“I deeply respect the right of partners to choose, through a fair and democratic process, to be represented by a union,” Niccol wrote in a letter to the union last September.

 “If our partners choose to be represented, I am committed to making sure we engage constructively and in good faith with the union and the partners it represents.”

Since December 2021, more than 12,000 workers at around 650 Starbucks locations around the US have unionized, making it the fastest-growing union campaign in modern history. This growth has also come amongst hundreds of allegations of union-busting, retaliation, and unfair labor practices thrown at Starbucks from the union, according to reports. 

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Starbucks Workers United has made progress securing the first union contract with the company since bargaining sessions began in the beginning of 2024, however, the progress has since stalled since Niccol took over the company, the Guardian writes. 

One of the first strategies Niccol implemented was titled “Back to Starbucks,” which involved an emphasis on customer service to decrease wait times for orders. Workers organizing at Starbucks criticized this strategy as it increased demands on them without any improvements to staffing or pay. 

Starbucks Workers United and the Strategic Organizing Center of 737 Starbucks workers conducted a survey that found 91% of workers reported understaffing in their stores within the past three months, and 93% stated the policy changes made under Niccol either had no impact or actually worsened the customer experience. 

“It’s clear that ‘Back to Starbucks’ isn’t working and won’t succeed until we finalize a fair union contract with the hours, take-home pay and protections baristas need to do our jobs,” said Michelle Eisen, a spokesperson for Starbucks Workers United and a barista for 15 years.

“Brian has talked about simplifying the menu to make things easier for partners, and wanting to get customers in and out of the stores faster, but these changes that he’s rolled out haven’t accomplished any of those things,” said Jasmine Leli, a Starbucks barista since December 2021.

“We really need Niccol to get back to the table to finalize this contract so that we can start to turn things around.”

Leli also said that Starbucks should expect further action from unionized workers, as the location she works at in Cheektowaga, New York was the second store to unionize. 

“We are going to do whatever it takes to get them back to the table so that we can start to address the issues with the wages, scheduling and staffing,” she added. 

“We are the ones that are working in the stores and interacting with the customers day in and day out, and partners want to be a part of making change in the workplace. So that’s why stores are joining the fight.”

Niccol’s salary has also been a huge point in the fight for unionization. In 2024, he made $97.8 million, which is 6,666 times more than the average annual salary of a Starbucks worker; $14,674. This marks the largest CEO-to-worker pay gap among the top 500 corporations in the US. 

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Senator Bernie Sanders wrote on social media back in March regarding Starbucks: 

“If you’re the Starbucks CEO you get $96m for four months of work including a $5m bonus. If you’re a Starbucks union worker, the CEO is refusing to give you a decent raise to pay rent and buy groceries. Starbucks must end its greed & negotiate a fair union contract.”

In response to the criticism of Niccol’s salary, a Starbucks spokesperson said the following: “Starbucks believes Brian has established himself as one of the most effective leaders in our industry, with a proven track record of delivering long-term value to employees, customers and shareholders. The majority of his reported first-year compensation reflects multi-year replacement equity grants, awarded to offset compensation forfeited upon his departure from Chipotle, which are now directly tied to Starbucks future performance.”

“It would take less than what Brian made in four months to settle fair contracts with our union,” the union said in a recent video posted online. 

In December 2024, thousands of baristas went on strike around the US in what became the largest strike in the company’s history. In April 2025, the union rejected a proposal from Starbucks for 2% pay increases with 81% of unionized stores rejecting the offer for not addressing their other economic benefits and pay increases. 

Since September 2024, Starbucks Workers United grew to 648 unionized stores from 500. 

“I believe if the company truly wanted to fix the problems happening in their stores, it could have happened by now,” said Diego Franco, a barista at Starbucks for five years at a unionized store in Chicago, Illinois.

“Where the company might see a bottom line, I see human experiences, human lives that are affected by the work that we do. So I hope to preserve that and to make it better, not just for me and my co-workers, but for people who come in the stores.”

“Since last April 2024, Starbucks and Workers United have held more than nine bargaining sessions over 20 days and three mediation sessions over five days with a federal mediator,” a spokesperson for Starbucks said.

“We’ve reached over thirty meaningful agreements on hundreds of topics Workers United delegates told us were important to them. We are ready to finalize a reasonable contract for represented partners, but we need the union to return to the bargaining table to finish the job.”

Cracker Barrel

Cracker Barrel Stock Drops as New Logo Sparks Culture War

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Cracker Barrel, the country-themed roadside restaurant chain long associated with biscuits, rocking chairs, and nostalgic Americana, is retreating from a brand update that was supposed to modernize its look but instead unleashed a wave of right-wing fury and rattled investors.

The controversy began when the 56-year-old company revealed a pared-down logo last week. The redesign dropped its namesake barrel and the seated figure many customers affectionately linked to “Uncle Herschel,” a nod to one of the restaurant’s most iconic menu items. The minimalist version was meant to signal a fresh start as part of a sweeping $700 million transformation plan. Instead, it sparked a cultural firestorm.

On social media, conservative commentators pounced. Donald Trump Jr. blasted the company with a blunt “WTF is wrong with @CrackerBarrel??!” At the same time, conservative activist Christopher Rufo warned that the redesign was another step in what he called corporate “wokification.”

“We must break the Barrel. It’s not about this particular restaurant chain—who cares—but about creating massive pressure against companies that are considering any move that might appear to be ‘wokification.’”

Influencer Charlie Kirk paired the simplified logo alongside viral images of Sydney Sweeney’s American Eagle campaign, suggesting both were evidence of cultural decline. Actor James Woods declared he’d never step foot in the chain again, calling the move a betrayal of Cracker Barrel’s roots.

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“Cracker Barrel was the only place I’d ever stop. No mob fights, a fun, corny atmosphere, and delicious food when you’re hungry and tired.”

The backlash quickly translated into financial fallout as shares of Cracker Barrel Old Country Store, Inc. (CBRL) tumbled more than 12% in a single day.

On Monday, the company issued a conciliatory statement on its website:

“If the last few days have shown us anything, it’s how deeply people care about Cracker Barrel. We’re truly grateful for your heartfelt voices. You’ve also shown us that we could’ve done a better job sharing who we are and who we’ll always be. What has not changed, and what will never change, are the values this company was built on when Cracker Barrel first opened in 1969: hard work, family, and scratch-cooked food made with care. A place where everyone feels at home, no matter where you’re from or where you’re headed. That’s the Cracker Barrel you’ll always find.”

The statement reassured diners that the “old-timer,” the figure sketched in 1977 by Nashville designer Bill Holley, often imagined by guests as “Uncle Herschel,” isn’t gone for good. He’ll remain visible inside restaurants, on road signs, and of course on the menu itself, where “Uncle Herschel’s Favorite Breakfast Platter” has long been a staple.

Cracker Barrel emphasized that its rebrand is still underway. CEO Julie Felss Masino, who unveiled the chain’s multiyear turnaround plan in 2024, said the company is working on revamping its operations through new commercials, a refreshed menu, and seasonal offerings.

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“The way we communicate, the things on the menu, the way the stores look and feel … all of these things came up time and time again in our research as opportunities for us to really regain relevancy.”

But for now, the restaurant finds itself caught in the middle of a larger culture war, another example of how corporate branding decisions can become lightning rods once amplified by political influencers. The New York Times recently noted that the same ecosystem of right-wing accounts that fueled outrage over Sydney Sweeney’s jeans ad also helped ignite the uproar over Cracker Barrel’s logo.

The company insists it is listening. “We know we won’t always get everything right the first time, but we’ll keep testing, learning and listening to our guests and employees,” the statement read.

“While our logo and remodels may be making headlines, our bigger focus is still right where it belongs… in the kitchen and on your plate: serving generous portions of the food you crave at fair prices and doing it with the kind of country hospitality that brightens your days and creates lasting memories. Meatloaf, chicken n’ dumplins, country fried steak, sides that taste like Sunday supper, and yes, the world’s best pancakes, they’re all still here, with a few new dishes joining the menu. Whether you’re a long-time fan or a first-time guest, we want you to feel at home around our table.”

For a chain built on road trip nostalgia and comfort food, the incident highlights the delicate balance between modernizing to attract new customers and preserving the imagery that loyal diners consider part of the brand’s identity.

air canada

Ottawa Orders Air Canada Striking Flight Attendants Back to Work Amid Mass Disruption

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Canada’s federal government has stepped into the escalating labor dispute at Air Canada, directing more than 10,000 striking flight attendants to return to their posts as nationwide air travel grinds to a halt.

Jobs Minister Patty Hajdu announced Saturday that she instructed the Canada Industrial Relations Board (CIRB) to order the airline and its unionized staff to resume operations, citing the urgent need to safeguard both the economy and Canadians stranded by the work stoppage.

“The impact of the work stoppage at Air Canada that began early this morning is already being felt by travelers. This is causing significant harm and has negative impacts on Canadians and the Canadian economy.”

Hajdu added that the cancellations led to thousands of Canadians being stranded and pharmaceuticals left with no means of transport.

The walkout began around 1 a.m. ET Saturday, after flight attendants—represented by the Air Canada component of the Canadian Union of Public Employees (CUPE)—voted 99.7% in favor of strike action. Their demands include higher wages and compensation for duties performed when aircraft are grounded.

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By late morning, the strike’s impact was stark: aviation data firm Cirium reported 662 canceled flights, including 342 within Canada and 320 international routes. Flight-tracking service FlightAware estimated that nearly nine in ten Air Canada flights, along with nearly all of its Rouge subsidiary’s departures, had been scrapped. The airline warned that as many as 130,000 customers could be affected each day the shutdown drags on.

Air Canada suspended all operations shortly after the strike began. It is premature to comment, as the CIRB process is still underway,” the company said in a statement to CNN, urging passengers to confirm their bookings before heading to the airport.

Hajdu invoked Section 107 of the Canada Labour Code, a seldom-used measure that allows the minister to direct an arbitrator to impose a settlement. The CIRB, which will oversee negotiations, is also expected to extend the terms of the existing collective agreement while the process unfolds.

Air Canada formally requested government intervention earlier in the week, according to CUPE. The union sharply criticized Ottawa’s move, with Wesley Lesosky, president of the CUPE’s Air Canada component, accusing the Liberals of undermining workers’ rights.

“Now, when we’re at the bargaining table with an obstinate employer, the Liberals are violating our Charter rights to take job action and give Air Canada exactly what they want – hours and hours of unpaid labour from underpaid flight attendants, while the company pulls in sky-high profits and extraordinary executive compensation.”

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Hajdu rejected suggestions that the government was taking sides, insisting that the aim was to break the impasse and that this was not about being anti-union.

The airline has stated that its latest proposal would increase hourly pay by 12% to 16% in the first year, with total compensation rising by 38% over four years. Air Canada maintains that the package would make its flight attendants the best-paid in the country.

CUPE, however, argues that the figures mask systemic issues, such as unpaid hours on the ground, which significantly reduce attendants’ actual earnings.

The strike has left competitors scrambling to fill the void. WestJet, Canada’s second-largest airline, said it is deploying larger aircraft on busy routes and adding extra flights “where possible” to absorb displaced travelers.

Still, with Air Canada accounting for a dominant share of the domestic and transatlantic market, the disruptions are expected to linger even after operations restart. Hajdu noted it could take between five and ten days for regular schedules to resume once the strike ends.

The CIRB is now reviewing submissions from both Air Canada and CUPE. Hajdu said a ruling could come within 24 to 48 hours, but she cautioned against speculating.

For now, thousands of passengers remain stranded, airports across the country are in limbo, and one of Canada’s most vital industries hangs in the balance.

temu

EU Regulators Say Temu Isn’t Doing Enough to Prevent Sale of Illegal Products

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The European Commission has issued a sharp warning to Chinese e-commerce giant Temu, accusing the fast-growing online retailer of exposing European consumers to a flood of potentially illegal and unsafe products.

In preliminary findings released Monday, the Commission outlined multiple concerns about the platform’s compliance with the Digital Services Act (DSA)—a sweeping set of rules enacted to better protect internet users across the European Union.

The investigation into Temu, launched last year, is part of a broader effort by EU regulators to hold digital marketplaces accountable for what they host and promote.

According to the Commission, Temu’s current safety protocols may fall well short of the standards required by EU law. Investigators say a recent “mystery shopping” operation uncovered several non-compliant items being sold on the platform, including baby toys and small electronic devices.

While the Commission did not specify which laws these items violated, it noted that the rapid growth of online shopping in the EU has led to a corresponding spike in counterfeit and unsafe products entering the market. There is “a high risk for consumers in the EU to encounter illegal products” on Temu’s website, the Commission said in its statement.

It pointed to “inadequate mitigation measures” and criticized Temu’s internal risk assessments for being overly reliant on generic industry benchmarks rather than on specific data from its own marketplace.

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“Temu is a priority for us. The problems caused on the European market by non-compliant products coming from online marketplaces are an issue.”

Henna Virkkunen, the EU’s Executive Vice-President for Tech Sovereignty, Security, and Democracy, emphasized the seriousness of the situation in a news release.

“We shop online because we trust that products sold in our Single Market are safe and comply with our rules. In our preliminary view, Temu is far from assessing risks for its users at the standards required by the Digital Services Act.”

Temu, a subsidiary of Chinese tech firm Pinduoduo Inc., has seen explosive growth in recent years by offering ultra-low-cost products, ranging from fashion to home goods, primarily shipped from Chinese vendors.

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It currently boasts 92 million users across the EU and 185.6 million in the United States. However, the platform’s rise has also drawn scrutiny for how it manages seller activity and monitors product safety.

When they launched the probe, EU authorities stated that they would examine whether Temu was taking sufficient action to find and combat “rogue traders” or vendors who allegedly sell non-compliant or counterfeit goods, get suspended, and then quickly return under new identities. In its preliminary findings, the Commission deemed Temu’s approach to be insufficient.

The Commission says it will also look into other suspected rule violations on Temu, including the platform’s “addictive design features, the transparency of its recommendation systems, and its access to data for researchers.”

In a brief response, Temu stated that it “will continue to cooperate fully with the Commission,” but did not address the specific findings.

Under the DSA, platforms found in violation could face fines of up to 6% of their global annual revenue. They may also be ordered to take concrete steps to bring their operations into compliance.

Before the EU watchdogs reach a final conclusion, the company will have the opportunity to review the Commission’s investigative files and address the allegations.

As European authorities ramp up enforcement of the DSA, the outcome of this case may set a significant precedent for how global e-commerce platforms are held accountable for the goods they deliver to doorsteps.