Raphael Stevens

Starbucks’ campaign to dissuade baristas from unionizing could include extending new benefits exclusively to nonunion workers.
CEO Howard Schultz told U.S. store leaders this week that he is reviewing the coffee chain’s benefit program for its workers, but that it would be illegal to extend improved benefits unilaterally.

Starbucks Chairman and CEO Howard Schultz speaks at the Annual Meeting of Shareholders in Seattle, Washington on March 22, 2017.
Jason Redmond | AFP | Getty Images

Starbucks’ campaign to dissuade baristas from unionizing could include extending new benefits exclusively to nonunion workers.
The company’s CEO, Howard Schultz, told U.S. store leaders this week that he is reviewing the coffee chain’s benefit program for its workers. However, employees who work at company-owned stores that voted to unionize would be ineligible for those improved benefits, Schultz said.

Schultz cited federal labor law and advice from the company’s legal counsel in saying it would be illegal to extend benefits unilaterally with unionized locations in the equation.
The Wall Street Journal first reported his comments.
Under federal labor law, employers have to bargain with the union that represents their workers when it comes to changes in compensation, benefits or other terms of their employment. But companies can still ask unionized employees if they want additional benefits.
U.S. airlines, for example, are highly unionized and have offered union employees bonuses or extra pay to help with staffing shortages, incentives that fall outside of regular contract negotiations.

Starbucks spokesman Reggie Borges told CNBC that Schultz and other company leaders will keep sharing key learnings from these employee listening sessions as they happen.

In late March, ahead of Schultz’s return to the company, Starbucks Workers United said it expected the company would announce new benefits to curb the union push spreading across Starbucks cafes. A representative for Starbucks did not respond to a request for comment at the time, but Schultz seemingly confirmed that strategy when he announced last week that he would suspend stock buybacks to invest back into the company’s workers and stores.
Roughly 200 of Starbucks’ company-owned locations have filed the paperwork to unionize in recent months. To date, 18 stores have voted to unionize under Workers United, with only one cafe so far voting against.
As the union push gains momentum, Workers United has alleged that the company has engaged in union-busting activity, including firing organizers, cutting barista hours at unionizing locations and other forms of retaliation. In March, the National Labor Relations Board filed a complaint against Starbucks, alleging that it violated federal labor law by firing organizers at a Phoenix location.
In his week and a half back at the helm of the company, Schultz has already been waging a more aggressive campaign against the union than previous CEO Kevin Johnson. Schultz has mentioned the union in public letters and speeches with workers, painting the push to organize as divisive and unnecessary.
“And while not all the partners supporting unionization are colluding with outside union forces, the critical point is that I do not believe conflict, division and dissension – which has been a focus of union organizing – benefits Starbucks or our partners,” he wrote in a letter to employees Sunday.
Shares of Starbucks closed up more than 1% on Wednesday alongside broader market gains. The company has a market value of roughly $93.3 billion.

— CNBC’s Leslie Josephs contributed to this report.

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The Biden administration is extending the transportation mask mandate for an additional 15 days.
The U.S. has repeatedly extended the mask mandate during the Covid pandemic.
Airlines have urged the Biden administration to drop the mandate and international travel rules.

The Biden administration is extending a mask mandate for airplanes and transit for 15 days, the Centers for Disease Control and Prevention said Wednesday.
The mandate was set to expire after April 18, following a one-month extension announced in March. Airlines have required masks on planes since early in the Covid pandemic in 2020, but the Biden administration made them mandatory in early 2021.

The CDC said it is monitoring the spread of omicron, including the BA.2 subvariant.
“Since early April, there have been increases in the 7-day moving average of cases in the U.S. In order to assess the potential impact the rise of cases has on severe disease, including hospitalizations and deaths, and health care system capacity, the CDC Order will remain in place at this time,” the CDC said in a statement.
It said the mandate will stay in effect through May 3.
Airlines have repeatedly asked the administration to drop that requirement as well as other Covid restrictions such as predeparture testing for all international arrivals, including citizens.

The CDC last month said it would work with other government agencies to determine “when, and under what circumstances, masks should be required in the public transportation corridor.”
The extensions to the mask mandate have become shorter, however, as the administration weighs the risks of Covid spread. A decline in cases from a peak this winter helped fuel a surge in travel demand that is so strong, it is helping airlines cover much of their soaring fuel bills.

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Monday – Friday, 6:00 – 7:00 PM ET

It’s that time again! “Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed.

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Rocket Companies Inc: “It’s such a good company, but when rates go up, it does poorly. And the Fed wants housing to slow. So therefore, their business is going to slow, too. Too soon to buy.”

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Garmin Ltd: “It’s fabulous. … I think their stock is great.”

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Mosaic Co: “I think Agco is cheaper, and I think Deere is better, and I want you on one of those two.”

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Kia on Wednesday unveiled its new lineup of Niro hybrid and EV crossovers as well as updates to its extremely popular Telluride SUV.
The Telluride has been a surprise sales success for the company, while the new Niro models come amid high gas prices and increased interest in electric vehicles.

2023 Kia Telluride

Kia on Wednesday unveiled its new lineup of Niro hybrid and EV crossovers as well as updates to its extremely popular Telluride SUV.
Both nameplates are important to the automaker in different ways. The Telluride has been a surprise sales success for the company, while the new Niro models come as consumers are being squeezed by high gas prices and are increasingly interested in electric vehicles.

The Niro lineup includes all-electric, plug-in hybrid and traditional hybrid variants, all of which have been redesigned for the second generation of the vehicles. They include updated designs as well as additional safety and convenience features, including an available 10.25-inch control and information screens for drivers.
“Kia’s electrified vehicle momentum continues with the launch of the all-new second-generation Niro, which offers more refinement, versatility, connectivity, and technology than ever,” said Kia America COO Steven Center in a statement. “The 2023 Niro was designed for today’s needs and for sustainable future mobility.”

 2023 Kia Niro

The Niro hybrid is expected to achieve 53 mpg combined and an estimated driving range of 588 miles. However, the Niro EV remains below other competitors with a targeted electric range of 253 miles, while other automakers are offering vehicles with ranges of more than 300 miles.
The redesigned models could provide a boost for the Niro’s sales, which were less than 26,200 units in 2021. That compares to the Telluride’s 93,705 units last year.
The Telluride SUV has been a standout success for Kia since the midsize SUV went into production at a plant in Georgia in early 2019. It has been among the most in-demand vehicles in the U.S. auto industry because of its affordability and features.

2023 Kia Niro EV

The 2023 Telluride increases those offerings, including additional safety and convenience features, a redesigned interior and updated exterior. Kia also announced two new off-road-inspired models for the 2023 model year.
The updated Telluride is expected to go on sale near the end of the third quarter. The redesigned Niro models will go on sale this summer.
Kia said it will announce pricing for the vehicles closer to when they go on sale. Both were unveiled Wednesday at the New York International Auto Show.

2023 Kia Telluride SUV

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Monday – Friday, 6:00 – 7:00 PM ET

CNBC’s Jim Cramer on Wednesday offered investors a list of seven semiconductor chip stocks he believes could be attractive buys.
“Growth at a reasonable price abounds in this beaten-down market, and that includes the more controversial semiconductor space,” the “Mad Money” host said.

CNBC’s Jim Cramer on Wednesday offered investors a list of seven semiconductor chip stocks he believes could be attractive buys.
“I think there’s a sense that the chipmakers will get hurt as we head into a [Federal Reserve]-mandated recession,” the “Mad Money” host said, referring to the Fed’s upcoming interest rate hikes. “At these levels, I think a bunch of them have started to look pretty enticing,” he added.

Here are his picks for the best semiconductor stocks that have reasonable valuations and earnings growth:

Micron
Western Digital
Advanced Micro Devices
Skyworks Solutions
KLA
Lam Research
Applied Materials

“Growth at a reasonable price abounds in this beaten-down market, and that includes the more controversial semiconductor space. Just be aware that these chip stocks might remain at a reasonable price for the foreseeable future because Wall Street has just got no love — until today — for this entire darn group,” he said.
Cramer’s latest list of investable growth stocks comes after he earlier this week highlighted four financial stocks and six travel and leisure stocks buyers should have on their radars. To pick his favorite stocks in each sector, Cramer has used the same list of stocks containing companies from the S&P 500 that meet his criteria for having a reasonable valuation and earnings growth.
Disclosure: Cramer’s Charitable Trust owns shares of AMD.
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Disclaimer

Questions for Cramer?Call Cramer: 1-800-743-CNBC
Want to take a deep dive into Cramer’s world? Hit him up!Mad Money Twitter – Jim Cramer Twitter – Facebook – Instagram
Questions, comments, suggestions for the “Mad Money” website? [email protected]

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Monday – Friday, 6:00 – 7:00 PM ET

CNBC’s Jim Cramer on Wednesday said the Nasdaq 100 could reach a low this week and give investors a chance to offload some poorly performing stocks, leaning on analysis from technical analyst Carolyn Boroden.
“The charts, as interpreted by Carolyn Boroden, suggest the Nasdaq 100 could make an important low sometime this week — and maybe it’s already happened,” the “Mad Money” host said.

CNBC’s Jim Cramer on Wednesday said the Nasdaq 100 could reach a low this week and give investors a chance to offload some poorly performing stocks, leaning on analysis from technical analyst Carolyn Boroden.
“The charts, as interpreted by Carolyn Boroden, suggest the Nasdaq 100 could make an important low sometime this week — and maybe it’s already happened. If that’s the case, then the recent” market storminess could be over for the time being, the “Mad Money” host said.

“However, you might not want to get too attached to this move because Boroden says the underlying technical picture … remains ugly. Still, you could get a good chance to unload some tech here in order to raise money to buy other things that might have an easier time in the market going forward,” he added.
The Dow Jones Industrial Average on Wednesday climbed 1.01%, while the S&P 500 rose 1.12%. The Nasdaq Composite increased 2.03%.
Boroden uses the Fibonacci strategy to make predictions about the market. A cluster of Fibonacci timing cycles coming due around the same time means a stock or index could be poised to reverse direction, Cramer explained, adding that that’s how she knew the market would bottom in mid-March. 
The Nasdaq 100 has been “almost straight down since that cluster of Fibonacci timing cycles she mentioned in March,” Cramer said. He added that Boroden is keeping an eye on both time and price parameters to find the next market low where investors could trade.

Arrows pointing outwards

“On the timing front, she says she has two periods where the Nasdaq 100 is likely to make an important low. The first period is yesterday and today,” Cramer said. “In other words, today’s rebound might have more staying power than you’d expect.”

“That said, according to Boroden, while these Fibonacci timing cycles are certainly helpful … we only get an actual reversal of the trend about 60% of the times when we see these reversal signals,” he added.
As for pricing, Boroden said there’s the possibility that the index once again reaches its lows from March 14, according to Cramer. Yet she still believes the Nasdaq 100 is in rough shape as its price stays below the 200-day simple moving average and shorter term 50-day moving average, he added.

Arrows pointing outwards

Boroden is also watching the five-day and 13-day exponential moving averages, Cramer said.
“When the five-day goes above the 13-day … that’s her favorite buy trigger. When the five-day goes below the 13-day, it’s her favorite sell trigger. Right now, Boroden says we’re definitively in sell territory, not in buy territory,” he said. 
That means that even if the Nasdaq-100 reaches a noteworthy low, investors should still be ready for the index to have another “downside failure,” Cramer said. 
“As she sees it, we’re definitely not out of the woods yet, and she’s certainly not making an all-clear call,” he added.
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Disclaimer

Questions for Cramer?Call Cramer: 1-800-743-CNBC
Want to take a deep dive into Cramer’s world? Hit him up!Mad Money Twitter – Jim Cramer Twitter – Facebook – Instagram
Questions, comments, suggestions for the “Mad Money” website? [email protected]

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California’s clean-air regulators introduced a plan this week that would ramp up the sale of electric and zero-emissions vehicles while phasing out the sale of new gasoline-fueled vehicles by 2035.
The proposal, if enacted by the California Air Resources Board, would require 35% of new passenger vehicle sales to be powered by batteries or hydrogen by 2026, and 100% of sales to be net-zero emissions less than a decade later.
Shifting the transportation sector to cleaner energy is a key component of the state’s plan to combat climate change, as cars, trucks and other vehicles represent roughly 40% of its pollution.

Morning traffic makes its way along a freeway in Los Angeles, California, September 19, 2019.
Mike Blake | Reuters

California’s clean-air regulators unveiled a plan this week that would ramp up the sale of electric and zero-emissions vehicles while phasing out the sale of new gasoline-fueled vehicles by 2035, in an aggressive effort to combat the state’s greenhouse gas pollution.
The proposal, if enacted by the California Air Resources Board, would require 35% of new passenger vehicle sales to be powered by batteries or hydrogen by 2026, and 100% of sales to be net-zero emissions less than a decade later. The proposal also calls for zero-emissions sales to account for 68% of total sales by 2030.

Shifting the transportation sector to cleaner energy is a key component of the state’s plan to combat climate change, as cars, trucks, and other vehicles represent roughly 40% of the its pollution.
Electric vehicle sales in the state rose to 12.4% of total sales last year, a jump from 7.8% during 2020, according to the board.
The board is expected to vote on the proposal in August. At least 15 states, including New Jersey, New York and Pennsylvania, have adopted California’s vehicle standards on prior clean-car rules.
The plan follows Gov. Gavin Newsom’s executive order in 2020 that called for phasing out new cars with internal combustion engines within 15 years by requiring that all such vehicle sales produce zero emissions by 2035.
The rule would not ban people from owning gas vehicles or from selling them on the used market.

More from CNBC Climate:

“With Californians still experiencing the harmful effects of smog-forming emissions and the effects of climate change, which are expected to worsen in the coming decades, adoption of the proposed ACC II [Advanced Clean Cars II] regulation is critical and necessary,” the state plan said.
Newsom, when signing the executive order, said the plan could curb the state’s emissions from cars by more than 35%, and that zero-emission vehicles would “almost certainly” be cheaper than gas-powered vehicles by the time the regulations start.
“Building on 30 years of work to electrify light-duty vehicles in California, the market is clearly poised for massive transformation,” the plan said.
California, which is grappling with worsening wildfires and drought as temperatures rise, also has a goal to transition to 100% renewable energy by 2045.
Some environmental groups urged the board to set even tougher targets and transition faster toward electric vehicles, arguing the state should impose a rule to achieve 100% zero-emission vehicle sales by 2030, five years earlier than the current proposal.
“Time is running out before the world as we know it disappears in the rearview mirror,” Scott Hochberg, a transportation attorney at the Center for Biological Diversity’s Climate Law Institute, said in a statement.
“To protect people and the planet, California has to free our streets from tailpipe pollution as fast as possible,” Hochberg said.

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Authorities in the island country of Jersey have frozen assets valued at more than $7 billion that are suspected of being connected to Roman Abramovich.
It was the latest financial fallout for that Russian oligarch as a result of the Ukraine war.
States of Jersey Police also executed search warrants at locations in Jersey that are suspected to be connected to Abramovich’s business activities.
The actions come a month after the UK announced financial sanctions against the 56-year-old Abramovich for his close relationship with Russian President Vladimir Putin, the architect of Russia’s invasion of Ukraine.

Chelsea owner Roman Abramovich looks on after their 3-1 win in the Barclays Premier League match between Chelsea and Sunderland at Stamford Bridge on December 19, 2015 in London, England.
Clive Mason | Getty Images

Authorities in the island country of Jersey froze assets valued at more than $7 billion that are suspected of being connected to Roman Abramovich, the latest financial fallout for that Russian oligarch as a result of the Ukraine war.
States of Jersey Police also executed search warrants Tuesday at locations in Jersey suspected to be connected to Abramovich’s business activities, according to a statement by the Law Officer’s Department in that country.

Jersey, part of the Channel Islands located off the coast of Normandy, France, Jersey, is a self-governing country whose head of state is Queen Elizabeth II of Great Britain. The United Kingdom provides military protection to the island.
The actions come a month after the UK announced financial sanctions against the 56-year-old Abramovich for his close relationship with Russian President Vladimir Putin, the architect of Russia’s invasion of Ukraine.

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On the heels of that unprovoked war, Abramovich announced that he would sell the renowned London soccer club Chelsea.
The Guardian newspaper last week reported that Abramovich shifted his ownership of a superyacht, “Aquamarine,” to a company based in Jersey that is controlled by an associate of his, David Davidovich, on Feb. 24, the same day that Russia invaded Ukraine.
It was not clear Wednesday if the 50-meter-long Aquamarine, which remains in dry dock in the Netherlands, is one of the assets frozen by Jersey authorities.

“The Royal Court also imposed a formal freezing order on 12 April, known as a saisie judiciaire, over assets understood to be valued in excess of US$7 billion which are suspected to be connected to Mr Abramovich and which are either located in Jersey or owned by Jersey incorporated entities,” Jersey’s Law Officers’ Department said in a statement Wednesday that declined further comment.
The Financial Times reported that Abramovich has moved a number of his investments from the British Virgin Islands to Jersey in recent years. Those include a number of helicopters, and the superyacht Sussurro, the newspaper noted.
The Bailiwick Express’s Jersey edition reported that Abramovich was expected to move to Jersey in 2018, but that did not happen after the renewal of his UK visa was delayed on the heels of the poisoning of the former Russian military officer Sergei Skripal and his daughter in the English city Salisbury.
Jersey and Guernsey, which is also relies on the U.K. for protection, ordered financial industry firms there to freeze the assets of five Russian banks and three other billionaires after Putin ordered Russian troops into eastern Ukraine in late February, the BBC reported at the time.
Also that month, Jersey External Relations Minister Ian Gorst said the island would take “further measures” that were in line with actions by the UK.
“Officers continue to work closely with UK counterparts, and we are ready to take further measures to ensure Jersey’s response is in line with the international community,” Gorst said at that time.

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