FTX Found Guilty & Starbuck's Growth Plan

Heyo, reader! We hope you’re having a good Friday morning!

Fun Fact: Did you know? There's a tree that could win a painting contest! 🎨 Meet the Rainbow Eucalyptus! It's not wearing a tie-dye shirt, but its bark looks like a splash of green, red, orange, and purple colors. It's nature's way of having a party on a tree! 🌳

2️⃣ This Morning’s Two Reports:

• 🌐 FTX Found Guilty

• ☕ Starbucks' Growth Plan

✂️ Market Snippet

• DOW: 🔼 1.70% (33,839.08)

• S&P 500: 🔼 1.89% (4,317.78)

• NASDAQ: 🔼 1.78% (13,294.19)

• BTC: 🔽 1.59% (34,877.20)

• ETH: 🔽 2.53% (1,799.40)

_{*Stock numbers as of market close, cryptocurrency as of 7:45pm EST yesterday.}

🌐 FTX Found Guilty

Sam Bankman-Fried, the once-celebrated founder of FTX, faced a harsh verdict as a New York jury found him guilty of massive fraud, involving at least $10 billion from customers and investors. Bankman-Fried's defense crumbled after a monthlong trial, rejecting his testimony that no fraud was intended. The verdict could land him behind bars for a considerable time, with sentencing scheduled for next March. As the gavel fell, the courtroom witnessed Bankman-Fried’s shock, mirroring the disbelief of the crypto world he once aspired to rule. 🏛️❌

TL;DR ⏳: FTX's founder faces a future in jail after a jury convicts him of defrauding investors in a multi-billion dollar cryptocurrency scandal. 🚨

☕ Starbucks' Growth Plan

Starbucks has announced a robust plan to expand its global presence by adding around 17,000 locations by 2030, brewing up a storm with a total goal of 55,000 cafes worldwide. This move is part of the coffee titan's larger "reinvention" strategy, initiated by former CEO Howard Schultz, that also promises a $3 billion cost reduction. As shares perk up by 9.5% post-earnings beat, the company detailed its plans for growth outside North America, particularly emphasizing international markets where three-quarters of the new stores will debut. Furthermore, they're committing to efficiency and a 'Triple Shot Reinvention Strategy,' which includes wage hikes for baristas, doubling their hourly income by the end of fiscal 2025. This strategy is stirring the pot amid ongoing unionization efforts and allegations of unfair labor practices, which the company firmly denies. 📈💼

TL;DR ⏳: Starbucks is on a high-caffeine drive, plotting thousands of new stores and a multi-billion-dollar cost cut, while giving baristas a pay boost. 🚀

⚡ BulletList Roundup (10 Headlines)

1. 🚀 Airstrikes hit UN havens as Israel completes Gaza city encirclement, official reports

2. 🛑 Lebanon-Israel skirmishes intensify ahead of Hezbollah leader's address

3. 📚 Cornell suspends classes amid 'extraordinary stress' from antisemitic threats

4. 🔥 Discrimination lawsuit spotlights Robert De Niro's former partner

5. 🚴‍♀️ Woman charged with murdering cyclist Mo Wilson allegedly used fitness app to track her, say prosecutors

6. 🚧 Efforts persist to rescue second victim in Kentucky coal plant collapse, with one confirmed fatality

7. 🍄 Australian woman faces charges for three counts of murder in suspected mushroom poisoning case

8. 🌪️ Lethal Storm Ciarán ravages western Europe, shatters wind speed records in France

9. 🏺 Italian dig team uncovers 2,600-year-old tomb, revealing affluent family's relics

10. 🎤 Second lawsuit against Steven Tyler claims sexual assault during plaintiff's teenage years

Tricky Trivia answer: Brazil

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