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Starbucks sends dates and locations for trade union bargaining sessions By Reuters

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© Reuters. FILE PHOTO: Starbucks employees supporting a union protest in the company’s hometown before Investor Day, in Seattle, Washington, US September 12, 2022. REUTERS/Hillary Ross/File Photo

(Reuters) – Starbucks Corp. said on Monday it has sent dates and locations covering 79 stores for contract negotiation sessions to the Labor Union, the union that represents employees of the world’s largest coffee chain in about 200 coffee shops.

However, the United Workers’ Organization said Starbucks (NASDAQ:) had originally proposed dates in October – which have also been accepted by the union – but the coffee chain is now asking for dates and times outside of that period.

The union had earlier said that employees in some stores had waited more than five months to begin discussions on issues including worker safety and workplace discrimination.

Starbucks has come under pressure over the past year, as workers at at least 240 company-owned stores in the US have joined unions, pushing for higher wages and better employee benefits.

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Citigroup CEO expects trading revenue to rise 10% in fourth quarter, but investment banking slips by Reuters

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© Reuters. FILE PHOTO: The Citibank logo is seen on the trading floor of the New York Stock Exchange (NYSE) in Manhattan, New York City, US, August 3, 2021. REUTERS/Andrew Kelly/File Photo

NEW YORK (Reuters) – Citigroup Chief Executive Jane Fraser said on Wednesday that revenue in its trading division will rise 10 percent in the current quarter from a year earlier, but investment banking fees will fall 60 percent, in line with industry.

The trading desks have been a surprising bright spot for some of the largest US banks this year as clients reorganized their portfolios across asset classes in response to the cooling markets.

“We’re hoping for a 10% (increase) in the markets based on what we saw in October and November,” Fraser told the Goldman Sachs (NYSE) Financial Services Conference.

But Wall Street investment bankers who were steeped in deals in 2021 have seen activity dip as volatility in capital markets, geopolitical tensions and risk sentiment dampen appetite for deals.

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As stock market listings fade and companies tighten the brakes on deal-making, investment banking revenues have fallen sharply across the industry. The tough operating environment has also led to job cuts at major lenders, with executives warning of more pain ahead.

Separately, in line with previously announced plans to streamline the global banking giant, Fraser said Citi is moving ahead with divestments, exiting the retail banking business in non-core international markets.

“From a strategic perspective, I think we’re all pleased with the progress and how we’re starting to see some initial results materialize in the data,” added Fraser.

Citi is in advanced talks with suitors looking to buy Mexican retail bank Banamex, according to media reports earlier this week. Citi said in January it was looking for a buyer for the unit.

Citigroup (NYSE:) The $12.5 billion acquisition of Banamex in 2001 was the largest ever in Mexico at the time.

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Royal Caribbean mistake causes huge passenger problem

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When people book a vacation, they make those plans months, sometimes years, in advance. This is because, in most cases, going on a trip, especially one that not only involves your family, but maybe even family and friends, there are a lot of moving pieces.

You have to find a time in the calendar that matches when adults can be off work and kids out of school. This can be difficult and often requires people to take time off from their employers, move other things, or arrange child or elderly care for children who are not making the trip.



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SEC Head Says Crypto Brokers Must Comply With Law By Reuters

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© Reuters. FILE PHOTO: U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler testifies before the Senate Banking, Housing, and Urban Affairs Committee during a hearing on Capitol Hill in Washington, U.S., on September 15, 2022. REUTERS/Evelyn H.

WASHINGTON (Reuters) – U.S. Securities and Exchange Commission Chairman Gary Gensler said companies that help facilitate transactions in the cryptocurrency market must comply with the law.

Gensler told Yahoo Finance in an interview on Tuesday that the SEC has enough powers but could use more resources. He described crypto brokers as “crypto casinos”.

The head of the Securities and Exchange Commission added that next Wednesday, the agency will take recommendations from agency employees regarding the stock market structure.

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