Change at Starbucks; Apple near $1 trillion; RBS sale

1. Time for a new brew: Howard Schultz announced Monday he will step down from Starbucks later this ...

Posted: Jun 5, 2018 12:42 PM
Updated: Jun 5, 2018 12:42 PM

1. Time for a new brew: Howard Schultz announced Monday he will step down from Starbucks later this month as executive chairman, the end of a 36-year run at the company.

Schultz has overseen enormous growth at Starbucks. It has expanded from 11 stores in the early 1980s to more than 28,000 stores in 77 countries today, and a market value of $78 billion.

In an interview with The New York Times, he acknowledged that he may consider a bid for the White House.

Schultz, 64, one of the most politically outspoken corporate leaders in America, has been rumored before as a potential Democratic candidate.

2. CEOs on the economy: The Business Roundtable, a powerful lobby that represents major corporations, will announce the results of its second quarter economic outlook survey on Tuesday.

Its member companies employ more than 16 million people.

The group's constituents will discuss how much they plan to invest in their own companies and how many people they plan to hire over the next six months. They'll also provide sales and GDP forecasts.

3. RBS sale: The UK government has sold part of its huge stake in the Royal Bank of Scotland, the lender it was forced to bail out during the global financial crisis.

British taxpayers now own 62.4% in the bank, down from 70.1% before the overnight sale.

The bank said in a statement the stake was sold for -2.5 billion ($3.3 billion), which is -2.1 billion ($2.8 billion) less than what the government paid for it in 2008.

4. Apple's new features: Shares in Apple closed 0.8% higher on Monday after the company announced a slew of new features at its annual developers conference.

The company unveiled its next-generation mobile software iOS 12. The system is packed with performance improvements, quirky features and a tool to help combat tech addiction.

Apple is now roughly $50 billion away from a market value of $1 trillion.

5. Global market overview: US stock futures were higher.

European markets opened mostly higher, while stocks in Asia ended the trading session mixed. US crude futures added 0.7% to trade at $65.20 per barrel.

The Dow Jones industrial average and the Nasdaq both gained 0.7% on Monday, while the S&P 500 added 0.5%.

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6. Earnings and economics: Societe Generale will pay more than $860 million in fines for bribing Libyan officials and manipulating a benchmark lending rate, the US Department of Justice announced Monday.

The Royal Bank of Australia left its benchmark interest rate on hold at 1.5% on Tuesday.

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7. Coming this week:
Tuesday - Business Roundtable CEO economic outlook
Wednesday - Commerce Department reports April's trade balance; Alphabet shareholder meeting
Thursday - JM Smucker earnings

Minnesota Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 40163

Reported Deaths: 1528
CountyConfirmedDeaths
Hennepin12867789
Ramsey5066230
Dakota252494
Stearns244819
Anoka2328111
Nobles16766
Olmsted119617
Washington119040
Mower9722
Rice8628
Scott8034
Clay59838
Kandiyohi5841
Blue Earth5352
Wright5055
Carver4331
Todd4022
Sherburne3405
Lyon3312
Freeborn3020
Watonwan2420
Steele2401
Benton2283
St. Louis20316
Nicollet18712
Martin1715
Cottonwood1380
Goodhue1378
Winona13315
Le Sueur1171
Pine1110
Crow Wing10812
Chisago1031
Otter Tail1021
McLeod960
Dodge930
Carlton890
Polk863
Unassigned8438
Chippewa791
Isanti780
Waseca730
Itasca6812
Douglas670
Murray670
Pipestone664
Meeker621
Morrison611
Faribault600
Becker570
Jackson570
Sibley562
Pennington530
Beltrami410
Brown392
Renville372
Mille Lacs342
Wabasha340
Rock310
Yellow Medicine310
Fillmore300
Houston290
Swift251
Grant220
Norman210
Redwood210
Wilkin213
Cass192
Roseau190
Big Stone170
Koochiching171
Kanabec161
Wadena160
Aitkin150
Marshall120
Pope120
Lincoln110
Clearwater100
Mahnomen101
Hubbard80
Stevens80
Lake60
Traverse60
Lac qui Parle40
Red Lake40
Kittson20
Cook10
Lake of the Woods00

Iowa Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 33162

Reported Deaths: 740
CountyConfirmedDeaths
Polk6990182
Woodbury328243
Black Hawk239759
Buena Vista172711
Johnson13848
Linn134183
Dallas133031
Marshall106819
Scott92610
Dubuque83422
Story8254
Pottawattamie78012
Wapello71231
Muscatine68344
Crawford6793
Sioux4930
Tama47829
Wright3891
Louisa36313
Plymouth3365
Jasper33217
Warren3001
Dickinson2853
Webster2844
Washington2489
Cerro Gordo2231
Hamilton1931
Boone1601
Clay1431
Clarke1403
Allamakee1354
Clinton1211
Mahaska11817
Shelby1180
Poweshiek1088
Carroll1041
Pocahontas1041
Bremer1027
Franklin990
Des Moines952
Emmet920
Henry903
Hardin880
Cedar851
Cherokee811
Taylor810
Monona770
Marion750
Floyd742
Benton721
Guthrie724
Jones680
Sac650
Osceola640
Iowa621
Jefferson620
Buchanan611
Butler602
Humboldt591
Calhoun582
Hancock571
Harrison560
Delaware541
Fayette540
Lee542
Madison512
Monroe517
Jackson480
Lyon480
Clayton473
Mills460
Palo Alto460
Mitchell430
Winneshiek430
Davis421
Grundy420
Kossuth390
Howard370
Union370
Lucas324
Winnebago310
Chickasaw290
Greene290
Cass270
Ida230
Unassigned220
Appanoose213
Van Buren210
Worth210
Keokuk201
Page200
Adair160
Audubon161
Ringgold151
Decatur120
Montgomery112
Wayne100
Adams80
Fremont80
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