Starbucks gets a new dress code, Tesla falls behind, and Trump wants Powell out: Business news roundup

Data released this week from the International Trade Association shows that arrivals of non-citizens to the United States by plane have declined by over 11% since March 2024.

Read More

President Donald Trump on Thursday escalated his pressure campaign on Federal Reserve Chair Jerome Powell, calling him “always too late and wrong” and saying he should be fired.  

Read More

One major auto-industry tracker thinks President Donald Trump’s vision of purely U.S.-made cars is purely fantasy.

A group of Wedbush analysts led by Dan Ives sent a note Tuesday saying that the president’s “head-scratching tariff slate” could result in a 15-20% reduction in demand for new auto purchases in the U.S. in 2025.

Read More

Auto makers got a boost on Monday as President Donald Trump said he wanted to help car companies during a conversation at the White House.

“I’m looking at something to help some of the car companies,” Trump said in response to a reporter’s question about what products would be included in the “short-lived” tariff exemptions the president had mentioned earlier.

Read More

Chili’s has been among the hottest restaurant performers in year-over-year sales. The chain has deftly created a cool “vibe” on social media, forged value on its menu, and become the darling of Darden, its corporate owner. It’s largely been able to do this by giving diners a sit-down restaurant experience at a price comparable to fast-food.

Read More

President Donald Trump has targeted some of the nation’s most elite universities with demands that include rolling back or eliminating DEI, assisting in Immigration and Customs Enforcement (ICE) deportations, and eliminating mask-wearing on campus. The administration has threatened to withhold funds from schools that don’t agree to the directives. Harvard University this week declined to negotiate with the administration, which in return cut off billions in funding.

Read More

Starbucks (SBUX) is tweaking its dress code in an effort to showcase its “iconic green apron,” the company announced Tuesday.

Starting May 12, baristas across the company’s North American stores will be required to wear a solid black shirt under their aprons to “focus on simplified color options that allow our iconic green apron to shine and create a sense of familiarity for our customers,” the company said in a press release. Employees will be required to wear khaki, black, or blue denim bottoms.

Read More

Tesla (TSLA) is no longer selling the majority of electric cars registered in the U.S.’s biggest electric vehicle market. The automaker reportedly lost significant ground in California, which accounts for almost a third of all zero-emission purchases in the country

Read More

Banks are minting money from stock market whiplash.

Goldman Sachs (GS), JPMorgan Chase (JPM), and Morgan Stanley (MS) pulled in more than $12 billion in equities trading revenue last quarter. That surpasses the peak of the post-pandemic trading boom, The Wall Street Journal (NWSA) reports.

Read More