Jan 29, 2019

Howard Schultz blasts progressive proposals from Harris, Warren

Former Starbucks CEO Howard Schultz. Photo: Johannes Eisele/AFP/Getty Images

Former Starbucks CEO and potential 2020 presidential contender Howard Schultz blasted some of the Democratic Party's biggest 2020 candidates during a Tuesday media blitz, calling Sen. Kamala Harris' support for Medicare for All "not American" and Sen. Elizabeth Warren's "wealth tax" proposal "ridiculous."

The big picture: The billionaire told Axios' Mike Allen this week that he was "unfazed" by criticism from the left as he flirts with launching a "centrist independent" bid for the White House.

"I'm not considering this to win the Twitter primary. I believe that lifelong Democrats and lifelong Republicans are looking for a home, and they're not spending hours and hours on Twitter."
— Schultz

Sen. Warren (D-Mass.) fired back on Twitter:

"What's “ridiculous” is billionaires who think they can buy the presidency to keep the system rigged for themselves while opportunity slips away for everyone else. The top 0.1%, who'd pay my #UltraMillionaireTax, own about the same wealth as 90% of America. It's time for change."

Go deeper: Starbucks has a 2020 problem

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#MeToo gets Weinstein

A man carries out Weinstein's walker. Photo: Johannes Eisele/AFP/Getty Images

Hollywood titan Harvey Weinstein is now a convicted rapist, two years and four months after accusations against him helped ignite the #MeToo movement.

Why it matters: To date, #MeToo has resulted in hundreds of powerful men losing their jobs. Seven have been criminally convicted, with four others still facing charges.

JPMorgan Chase to pull support for some fossil fuels

Illustration: Sarah Grillo/Axios

JPMorgan Chase said Monday that it won’t directly finance new oil and gas development in the Arctic and will significantly curtail its financing of the extraction and burning of coal.

Why it matters: JPMorgan is the world’s largest funder of fossil-fuel companies, according to a report by the Rainforest Action Network (RAN). The announcement follows similar moves by other big banks and investment firms, including Goldman Sachs and BlackRock.