The Latest Breaking News from Laxman Narasimhan

The major indexes couldn't make heads or tails of the latest Fed statement, ultimately ending the session in the red.

Stock futures slip as Fed begins two-day policy meeting; Biden orders debt ceiling summit as new default risk emerges; Ford earnings on deck as carmakers fight narrowing margins; new Starbucks CEO Narasimhan to lead first quarterly earnings update and IBM plans hiring pause, will use AI to replace 7,800 jobs.

Former Starbucks CEO Howard Schultz defended the coffee giant’s labor practices and denied union busting Wednesday in his testimony before a Senate committee chaired by Sen. Bernie Sanders. His appearance, along with his Starbucks coffee cup, came after a lengthy refusal that nearly led to a subpoena vote.

When Howard Schultz returned to be Starbucks CEO for the third time last year, he made it clear he wasn't staying. Last week, he stepped down, handing over the role to Laxman Narasimhan.

Starbucks' new CEO recently laid out plans for the company including working in Starbucks stores as a barista once a month

Laxman Narasimhan needs to be low-key and consistent if he's going to turn around the c-suite's relationship with staff, experts said.

Starbucks new CEO Laxman Narasimhan led his first shareholder annual meeting Thursday, facing investors' questions just days after he took over the role from longtime leader Howard Schultz.

Laxman Narasimhan has already undergone 40 hours of barista training after joining the company in October

Laxman Narasimhan will spend half-day shift each month at one of the company’s 9,000 U.S. coffee shops to stay close to employees and customers.