Jun 5, 2018

Howard Schultz talks politics, doesn't rule out 2020 run

One day after announcing his plan to step down as Starbucks' executive chairman, Howard Schultz didn't rule out a possible presidential run during an interview with CNBC on Tuesday morning.

The big picture: Though Schultz was coy about his future plans, he did lay out his views on a few hot-button issues, highlighting his political opposition to President Trump.

  • On immigration: Schultz said the country's current immigration policy isn't "very humane," adding that border security is not the United States' biggest immigration problem.
  • On trade: Schultz said he doesn't understand the Trump administration's stance on trade, especially concerning China: "Our problem is not China."
  • On the economy: Schultz said that he believes the country should focus on its $21 trillion debt problem and $400 billion in interest: "These are things that are unsustainable."
  • On Trump's tax cuts: Corporations didn't need a 21% tax cut, according to Schultz. "We could've done so much more for people in this country."

Flashback: Schultz has been considered a possible challenger to Trump for some time now — and was similarly non-commital when asked about his presidential ambitions last year.

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Situational awareness

Photo: Brett Carlsen/Getty Images

Catch up on today's biggest news:

  1. Mike Bloomberg offers to release women from 3 NDAs
  2. Wells Fargo to pay $3 billion to settle consumer abuse charges
  3. Bloomberg campaign says Tennessee vandalism "echoes language" from Bernie supporters
  4. Scoop: New White House personnel chief tells Cabinet liaisons to target Never Trumpers
  5. Nearly half of Republicans support pardoning Roger Stone

Wells Fargo agrees to pay $3 billion to settle consumer abuse charges

Clients use an ATM at a Wells Fargo Bank in Los Angeles, Calif. Photo: Ronen Tivony/SOPA Images/LightRocket via Getty Images

Wells Fargo agreed to a pay a combined $3 billion to the Justice Department and the Securities and Exchange Commission on Friday for opening millions of fake customer accounts between 2002 and 2016, the SEC said in a press release.

The big picture: The fine "is among the largest corporate penalties reached during the Trump administration," the Washington Post reports.

Bloomberg offers to release women from 3 nondisclosure agreements

Mike Bloomberg. Photo: Brett Carlsen/Getty Images

Mike Bloomberg said Friday his company will release women identified to have signed three nondisclosure agreements so they can publicly discuss their allegations against him if they wish.

Why it matters, via Axios' Margaret Talev: Bloomberg’s shift in policy toward NDAs comes as he tries to stanch his loss of female support after the Las Vegas debate. It is an effort to separate the total number of harassment and culture complaints at the large company from those directed at him personally. That could reframe the criticism against him, but also protect the company from legal fallout if all past NDAs were placed in jeopardy.