Apr 17, 2018

Starbucks to close stores nationwide for racial bias training

A Starbucks coffee shop. Photo: Jaap Arriens/NurPhoto via Getty Images

Starbucks will close stores on May 29th for an afternoon of racial bias training, the company announced in a press release on Tuesday.

Why it matters: The company is responding to the arrest of two black men in a Starbucks branch in Philadelphia.

The backdrop: Johnson apologized on behalf of the company on Monday and said there would be corrective training to come. Citizens have been protesting Starbucks over racial issues following the arrests. A day before the announcement, it was also revealed that in January another black man was denied entry into a bathroom without making a purchase.

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Bob Iger to step down as CEO of Disney

Photo: Jeff Kravitz/FilmMagic

The Walt Disney Company said Tuesday that it had named longtime Disney executive Bob Chapek as CEO Bob Iger's successor, effectively immediately. Iger will remain executive chairman of the company through 2021.

Why it matters: Iger is credited with having successfully turned around Disney’s animation and studio businesses and with the strategic acquisition of Marvel, Pixar, Lucasfilm and 21st Century Fox. Most recently, he was the person behind Disney's successful launch of its Netflix rival Disney+.

India gives Trump warm welcome as brutal protests rip New Delhi apart

People supporting India's new citizenship law beat a Muslim man in New Delhi, India. Photo: Danish Siddiqui/TPX/Reuters

While President Trump enjoys a hero's welcome in India, that nation's capital is being torn apart by violent protests between Hindus and Muslims.

The state of play: At least 186 people — 56 police officers and 130 protesters — have been injured and 10 killed in recent clashes, a New Delhi police spokesperson told the AP.

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Wall Street sees 2nd day of brutal sell-off

Photo: Johannes Eisele/AF via Getty Images

The stock market fell another 3% on Tuesday, following Monday’s sell-off. Bond yields touched record lows.

The big picture: Stocks continued to fall as the CDC said it expects the coronavirus to spread in the U.S. The Dow and S&P are more than 7% below the record highs seen earlier this month.

Go deeperArrowUpdated 2 hours ago - Economy & Business