House Democrats contend the $15 per hour minimum wage bill will lift workers who have not seen the benefits of a strong economy.Politicsread more
Microsoft beat on top and bottom lines but Azure growth slowed.Technologyread more
Trump said the USS Boxer destroyed Iran's drone in the Strait of Hormuz on Thursday in a "defensive action."Politicsread more
See which stocks are posting big moves after the bell on July 18.Market Insiderread more
The Philadelphia Fed saw its primary gauge measuring the sector jump from 0.3 in June to 21.8, far better than Wall Street estimates of 5 and the highest in a year.Economyread more
"It's better to take preventative measures than to wait for disaster to unfold," Williams told the annual meeting of the Central Bank Research Association.The Fedread more
CrowdStrike reports first earnings report since IPO.Technologyread more
Some blamed private equity for the rash of retail bankruptcies over the past few years, including those of Payless ShoeSource, Sports Authority and Toys R Us. Toys R Us, in...Retailread more
Stocks rose after comments from a top Fed official led to bets that the central bank will ease monetary policy more aggressively.US Marketsread more
Chewy, founded in 2011 by Ryan Cohen and Michael Day, calls itself the "largest pure-play pet e-tailer in the United States."Retailread more
Ascena Retail Group on Thursday said the winding down of its Dressbarn business is on target amid chatter the business would be forced to file for bankruptcy to break leases....Retailread more
WHEN: Today, Friday, January 22nd
WHERE: CNBC's "Squawk on the Street"
Following are excerpts from the unofficial transcript of a CNBC interview with Starbucks Corporation Founder, Chairman, President & CEO Howard Schultz on CNBC's "Squawk on the Street" (M-F, 9AM-11AM ET). Following are links to video of the interview on CNBC.com: http://video.cnbc.com/gallery/?video=3000486726, http://video.cnbc.com/gallery/?video=3000486725 and http://video.cnbc.com/gallery/?video=3000486723.
All references must be sourced to CNBC.
Schultz on the Future
THE FUTURE OF STARBUCKS COFFEE COMPANY IN CHINA AND GLOBALLY HAS NEVER BEEN STRONGER. THE BRAND HAS NEVER BEEN MORE RELEVANT. AND THIS IS A LONG-TERM STORY THAT PROBABLY IF YOU LOOK AT OUR PEER GROUP NOT ONLY WITHIN THE RESTAURANT AND RETAIL SECTOR BUT ANY BRICKS AND MORTAR RETAILER AROUND THE WORLD, WHOS PUTTING UP 4% GLOBAL TRAFFIC, 8% GLOBALLY, 9% IN THE U.S. AND 5% IN ASIA-PAC. ITS UNHEARD OF.
Schultz on Europe
OUR EUROPEAN BUSINESS UP UNTIL THE ACT OF TERROR WAS GOING VERY WELL. WE'RE EXPANDING IN EUROPE AS WE ARE ALL OVER THE WORLD AND I SEE NO REASON TO CONCLUDE ANYTHING OTHER THAN BUSINESS WILL RETURN AS USUAL IN THE COMING MONTHS AND QUARTER.
Schultz on Innovation
23% OF TENDER IS NOW MOBILE PAYMENT. MOBILE ORDER AND PAY IS WAY AHEAD OF PLAN. THEYRE INTRODUCING ALL OF THIS TO MARKETS ALL OVER THE WORLD. AND JUST WAIT UNTIL MOBILE ORDER AND PAY AND MOBILE ECOSYSTEM COMES TO ASIA, AND SPECIFICALLY CHINA TOWARD THE END OF THIS FISCAL YEAR. IT WILL HAVE A SIGNIFICANT CATALYTIC EFFECT ON THE BUSINESS AS IT HAS IN THE U.S.
Schultz on the Stock Being Undervalued
WE THINK THE STOCK IS UNDERVALUED RELATIVE TO CREATING LONG-TERM FOR OUR SHAREHOLDERS. AT THESE LEVELS, WE'LL BACK THE
TRUCK UP AND BUY AS MUCH STOCK AS WE CAN AND BE THOUGHTFUL AND DISCIPLINED ABOUT I. BUT THE STOCK IS UNDERVALUED RELATIVE TO OUR PERFORMANCE AND THE LONG-TERM VIEW WE HAVE ABOUT THE WORLD. WERE OPENING 500 NEW STORES A YEAR IN CHINA.
With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD , CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to approximately 371 million homes worldwide, including more than 100 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 15 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 7:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of new reality programming, CNBC's highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries.
CNBC also has a vast portfolio of digital products which deliver real-time financial market news and information across a variety of platforms. These include CNBC.com, the online destination for global business; CNBC PRO, the premium, integrated desktop/mobile service that provides real-time global market data and live access to CNBC global programming; and a suite of CNBC Mobile products including the CNBC Real-Time iPhone and iPad Apps.
Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site at http://www.nbcumv.com/mediavillage/networks/cnbc/.