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Starbucks released its fourth-quarter earnings on Wednesday, October 30, finally providing an official figure for its recent wave of store closings. The Seattle-based coffee chain shuttered a total of 627 locations worldwide over the three months, ending up with a net closure of 107 stores. More than 90% of impacted locations were in North America, Starbucks said. In the United States, 520 stores were shuttered as part of the company’s turnaround efforts, Starbucks disclosed in an earnings release. Starbucks now runs 40,990 stores globally and 16,864 in the United States. Estimates of store closures varied widely In September, Starbucks announced the shutt…

As of yesterday’s market close, Netflix is the only Big Tech company whose stock is trading at four figures, but that will soon change. The TV streaming giant, whose shares closed at $1,089 on Thursday, has announced that it will initiate a stock split next month. That will send the stock’s price per share much lower, though it will not change the company’s fundamental value. Here’s what you need to know about Netflix’s upcoming stock split. What’s a stock split? A stock split is when a company decides to divide the number of its existing shares in order to create new ones—hence the term “split” the shares. A stock can split by any factor a company wan…

If you blinked this week, you might’ve missed a few major moves. Netflix decided it’s time for a stock split, Amazon trimmed thousands of jobs, and Walmart is already dropping “Black Friday” prices before the Halloween candy wrappers are even off. Meanwhile, housing trends, climate shocks, and AI budgets kept reshaping the conversation about what’s next for growth. Here’s a look at what mattered most this week, and why these stories could shape the months ahead. Mortgage-free America hits a new high A record 40.3% of owner-occupied homes are owned free and clear, up from 39.8% last year. Aging baby boomers and longer lifespans concentrate equity among older…

In the C-suite, relationships can make or break your effectiveness, and too often, we’ve been taught that you must choose to be either a friend or a colleague, but never both. The fear is understandable. Too much closeness, and you risk favoritism. Too much distance erodes trust, but our research and experience as leadership advisers point to a different reality: genuine, trust-based relationships are not a liability; they’re a leadership advantage. The real risk isn’t choosing one or the other; it’s failing to integrate both. Morag’s Ally Mindset Profile data reveals a telling truth: 67% of respondents say their success has been undermined by their peer relationships…

For decades now, tech companies have been promising us a future straight out of Star Trek. Instead of being confined to phones and computers, our digital lives would extend to a network of screens all around us, from connected TVs and smart fridges to kitchen countertop displays and car dashboards. The tech companies called this “ambient computing” or “ubiquitous computing” and extolled how it would get technology out of the way so we could focus on the real world. Here’s what we’ve got instead: Samsung’s smart refrigerators, which range from $1,899 to $3,499, have started showing advertisements on their screens. Amazon’s Echo Show smart displays now have …

With more than 100,000 artifacts dating back thousands of years, nearly 900,000 square feet of floor space, a site that spans more than 120 acres, and a total price tag estimated to be more than $1 billion, it’s not hyperbole to call the Grand Egyptian Museum outside Cairo, Egypt, the most significant museum project in recent decades. It’s the kind of blockbuster building that would have even the starriest of starchitects salivating at the chance to lay claim to what’s likely become one of Egypt’s most visited tourist attractions. So, in hindsight, it’s a bit unexpected that the architecture firm that won the museum’s international design competition way back in 2002 …

Most people still measure performance in hours. They pack their calendars as full as possible, track time down to the minute, and take pride in squeezing more into each day. However, the best performance comes from harnessing rhythm—the alignment of energy, capacity, and focus. It’s what turns effort into flow. In the industrial age, managing time made sense: productivity was tethered to factory shifts and desk schedules. But in today’s BANI—brittle, anxious, nonlinear, incomprehensible—world, hours spent no longer translate neatly into value created. The leaders who thrive now are those who sense and harness the rhythms of their team. Energy rises and falls acros…

The 9-to-5 is fading, replaced by a fragmented cycle of early logins, late-night pings, and weekend catch-up. Microsoft’s latest Work Trend Index shows the “infinite workday” is no longer an edge case. It’s the norm for many knowledge workers. Unfortunately, it seems the pandemic-era “triple peak” work pattern—morning, afternoon, and an evening spike—has stuck. After-hours activity is rising. Meetings after 8 p.m. are up 16% year over year, and by 10 p.m. nearly one-third of active workers are back in their inboxes. Weekends are not off-limits: Among those working weekends, about 20% say they check email before noon on Saturday and Sunday. During the week, prime …

More than six years after a Boeing 737 Max jetliner crashed in Ethiopia, the first civil trial stemming from the disaster that killed all 157 people on board the plane appears poised to move forward. Boeing has settled most of the dozens of wrongful death lawsuits that families of the victims filed against the aircraft maker after the March 2019 crash, but two of the remaining cases are scheduled to open before a federal court jury as soon as Tuesday. The trial in Chicago, where Boeing used to have its headquarters, isn’t expected to examine the company’s liability. Boeing already accepted responsibility for what happened to Ethiopian Airlines Flight 302 and for a…

Voters are filling in their ballots today to choose who will lead America’s largest city for the next four years. New York being a center of global finance and business means that its local elections will always attract some degree of attention outside of the five boroughs, but the city’s mayoral race this year has garnered far more national interest than usual. That’s in large part thanks to Zohran Mamdani, the assemblymember from Queens who was virtually unknown outside of New York before he launched his campaign a year ago. Mamdani went viral early in the race with entertaining person-on-the-street videos in the wake of Donald The President’s second pres…

There are many, many maps of New York City. There are the decor maps, sold on Amazon, and the tourist maps, which mostly focus, erroneously, only on Manhattan. There’s the iconic subway map, as well as the MTA’s new version. There’s the Eater and Grubhub maps, which tell us where to eat. And then there’s the map that really matters: the official legal map for the city, which quite literally rules the streets of the city, complete with boundaries and widths. It’s also the map that doesn’t currently exist, at least in one singular and easy-to-use form. That’s changing, though. On Tuesday night, New Yorkers appeared poised to approve Proposal 5, a measure that will…

Duolingo has been through a lot of changes over the past few years. What was once solely a language-learning app has grown into a social media marketing machine, a destination for math and music lessons, and now an online chess tutor. In June, Duolingo launched a Duolingo Chess course to teach beginners the basic rules and moves by allowing them to play against an AI tutor named Oscar. This month, the company is taking the course further, launching a multiplayer version of the game where users can compete against one another. Duolingo, which is on track to surpass $1 billion in revenue this year, has 48 million daily active users and 11 million paying subscribers…

TD Bank is getting ready to implement a number of branch closures across more than a dozen states on the East Coast. Those closures come at a time when the bank is increasingly shifting its focus to online banking. Here’s what you need to know about TD Bank’s branch closures, including a list of closing locations. Why is TD Bank closing some of its branches? TD Bank is closing some of its branches as part of a broader plan to reduce or relocate 10% of its retail footprint. “At Investor Day last month, TD shared plans to deliver a stronger, more scalable U.S. retail presence through significant store enhancements, tech-forward digital banking capabilities, and …

My “aha” moment about how to use artificial intelligence effectively came from an engineering group that built an operating model for experimenting with AI. They didn’t “pilot” AI once and move on—they built lightweight checklists and safety rails so teams could try, learn, and scale, week after week. Some guidance was deeply technical, but the lesson was universal: Make continuous experimentation part of how the team works. Not a side project. That’s the job in front of every leader now. AI is changing work at two levels at once: Individuals’ capabilities are being augmented, and teams are collaborating differently. The best results don’t come from isolate…

Have you ever wondered how the letter “A” got its shape? Or why some fonts instantly look “psychedelic”? Or where the word “text” even came from in the first place? Kelli Anderson, a graphic artist, author, and master of all things paper, has asked all of those questions—and she’s answering them with a massive new pop-up book called Alphabet in Motion. The book takes readers through an interactive journey about the history of typography from A to Z, starting in ancient Egypt and moving all the way into the digital age. But it’s no ordinary history tome. Anderson hand-designed 17 different pop-ups, including light projections to colorful sliders and mind-bending i…

If sweating it out on a Peloton helps you stay fit, be sure to see if you’re affected by a major new recall from the exercise bike maker. Peloton issued a major recall for some bike models on Thursday, warning that the seat posts of affected models could break and potentially injure their users. The recall is based on three reports of seat post malfunctions. In two of those incidents, Peloton users were injured after falling off the bike. Though the number of incidents is very small, the recall applies to 833,000 units manufactured in Taiwan and sold in the U.S. The recall affects Peloton Original Series Bike+ units with model number PL02 and serial numbers that s…

The value of higher education has been on a steady decline for Americans over the past 15 years. According to a September Gallup poll, only 35% of U.S. adults said a college education is “very important,” compared to 75% in 2010. This is what a marketer would call a brand problem. The University of North Carolina is unveiling a refreshed brand identity and reorganizing its marketing structure to meet these 21st-century challenges. The centuries-old university has a storied history as a top-ranked academic institution and a legendary sports brand (thank you Michael Jordan). Chancellor Lee Roberts says that awareness isn’t UNC’s problem. Everyone in North Carolina…

When he takes office next year, Zohran Mamdani will be the first mayor of New York City in decades not to own a car. Mamdani—who bikes and rides public transit to work—wants to make city buses both faster to ride and free, building on a fare-free pilot he helped run in 2023. He also plans to expand the city’s network of bike lanes, add more car-free streets in front of schools, and wants to pedestrianize more areas in Manhattan as congestion pricing has reduced traffic. “In a city where the majority of households are car-free, we haven’t had a car-free mayor in a really long time,” says Alexa Sledge, communications director at the nonprofit Transportation Alternat…

Quantum computing insiders, investors, and skeptics have been waiting on an announcement from the Defense Advanced Research Projects Agency (DARPA) that has enormous implications for the future of the industry: the list of companies that have survived Stage A of the agency’s Quantum Benchmarking Initiative (QBI) and are advancing to Stage B. The QBI was launched in July 2024 to “rigorously verify and validate whether any quantum computing approach can achieve utility-scale operation” by 2033, according to DARPA. In essence, the QBI seeks to determine if a quantum computer technology is worth pursuing—if its benefits will be greater than the effort and resources it ta…

It became clear in the late 2010s that Amherst College’s science center had aged far past its prime. As the concrete building fell into disrepair, school leaders suspected a demolition was in order. Old, poorly insulated, and inadequate for the technical demands of today’s research, it seemed like too steep a challenge to repurpose, says Tom Davies, the school’s Executive Director of Planning, Design, and Construction. Especially after a new science center opened on campus in 2020. “It was a stranded asset with essentially no value,” he says. “But what our consultants were able to show is that it does have quite a bit of value.” In the course of explorin…