The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Delta warned travelers that a technical problem could delay flights on Wednesday.Airlinesread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
If the Trump administration and Congress fail to reach a spending agreement, the White House will offer to keep the government funded at its current levels for a year, Mnuchin...Politicsread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
Investors need to be cautious because the economy will get hurt the longer the trade war drags on, Jim Cramer says.Mad Money with Jim Cramerread more
Slack Technologies' reference price was set at $26 per share, the New York Stock Exchange announced Wednesday evening.Technologyread more
With the Federal Reserve deciding not to cut interest rates but leaving the door open for future cuts, experts are split on what comes next.Trading Nationread more
"I think in the world that we are living in today, there is a greater responsibility on companies to ensure the fact that we balance profit with social impact. And that is the kind of message I would share with the President-elect and I hope that he would share that," Schultz said to the "Mad Money " host.
Starbucks held its twice-annual investor conference on Wednesday, unveiling plans to add 12,000 new stores globally in the next 5 years—on top of the 25,000 stores that exist already. It also aims for 10 percent annual revenue growth, and mid-single digit same store sales growth with earnings expanding by 15 to 25 percent per year.
"We are very intentional. We know what we are doing and we've got a clear plan to go do it," Johnson told Cramer about the company's five-year plan.
While Schultz will be stepping down as CEO in April and passing the reigns to longtime COO Kevin Johnson, he will still stay on as executive chairman.
"The most important currency in leadership is trust. Kevin has the trust of our partners and our people. He has the trust of the street as you saw today, and this is going to be a very smooth and natural transition," Schultz said.
One area of global interest for Starbucks is China, having operated there for 17 years and has 30,000 employees in the country. Starbucks opens a new store in China approximately every 15 hours.
With China as a source of contention with the President-elect surrounding trade and overseas employment, Johnson said he expects to continue the close relationship with partners and customers in China.
"I can't predict the political environment, but I do know that we have been in China for 17 years. We've done it in a way that is showing great respect to the culture and the people in China," Johnson said.
Correction: This story has been updated to reflect that Starbucks opens a new store in China every 15 hours.