BUSINESS

The EV maker just revealed pricing details for its new R2 lineup. Rivian will first launch a $57,990 model, with plans to debut a $45,000 variant in late 2027.

The files include email exchanges with Elon Musk, Howard Lutnick and other billionaire associates.

The spike also occurred after Iran’s new supreme leader insisted the Strait of Hormuz would remain closed.

Ayatollah Mojtaba Khamenei also called on Gulf Arab states to “shut down” U.S. bases.

Despite concerns over the struggling industry, the banking giant aims to increase its offering.

Glassnode’s Accumulation Trend Score drops to 0.04 as smaller wallet cohorts offload BTC while macro headwinds intensify.

First-time unemployment claims at 213,000 are little changed for a third straight week.

Starbucks is continuing to reshape its store footprint as part of a sweeping turnaround effort to reverse declining customer traffic and slowing sales growth.The coffee giant has made significant changes across its business in recent years, including closing hundreds of locations while investing heavily in store upgrades and new formats designed to win back customers.The strategy has already produced some unexpected moves.In September 2025, Starbucks surprised many customers when it permanently closed two major Starbucks Reserve Roastery locations in Seattle: one inside its global headquarters building after nine years in the city’s SODO district and another after 11 years on Capitol Hill.Now, more closures are planned in the company’s hometown market. Starbucks confirms closure of five storesStarbucks confirmed it will permanently close five Seattle coffeehouses in April 2026, four of which are unionized.”We regularly review how our coffeehouses serve their neighborhoods and if they are meeting customers where they are. Sometimes that means investing in updates or trying new formats,” said Starbucks spokesperson Jaci Anderson in a media statement. “Other times, it means making the difficult decision to close a location that no longer fits how people in that community live, work, or gather.”Seattle stores closing1101 Madison St.: Unionized4147 University Way N.E.: Unionized305 Harrison St., Suite 220: Unionized4800 Sand Point Way N.E.: Unionized1730 Minor Ave.: Non-union

Starbucks announces five store closures in its hometown of Seattle.Jeffrey Greenberg/Universal Images Group via Getty Images

Starbucks Workers United respondsThe decision has drawn criticism from Starbucks Workers United, the labor union representing around 11,000 Starbucks baristas nationwide.The union has been pursuing higher wages, more consistent scheduling, and better working conditions since its founding in 2021, according to its website. “Starbucks continues to fail its hometown,” said Starbucks Workers United in a statement reported by Fox13. “After laying off thousands of corporate employees, opening a new office in Nashville, and closing its flagship stores, CEO Brian Niccol is yet again upending the lives of employees and disrupting customers with no notice or justification.”The union added that it has filed an unfair labor practice charge and plans to demand bargaining rights with Starbucks regarding the shutdowns.Inside Starbucks’ “Back to Starbucks” strategyThe store closures come as Starbucks accelerates its broader turnaround plan following several quarters of slowing traffic and declining sales.The company launched its “Coffeehouse Uplift” initiative, a multi-year effort to invest about $150,000 per store and remodel 1,000 locations by the end of 2026.Rather than pursuing large-scale renovations that could disrupt operations, the coffee giant says it plans to upgrade stores with minimal downtime by delaying certain new builds and major remodel projects.More Starbucks News:Starbucks makes two big changes to 1,000 stores in 2026Starbucks shares bold plan to change in-store experienceForget Starbucks, these coffee chains are stealing consumersThese efforts are part of Starbucks’ “Back to Starbucks” strategy, which aims to restore the brand’s identity as a “third place” between home and work. The move focuses on returning to its roots while creating a more personalized and welcoming coffeehouse experience.However, the transformation has also involved significant cost-cutting measures, including widespread closures and layoffs.Previous Starbucks store closures and layoffsIn August 2025, Starbucks revealed plans to close all its roughly 90 pickup-only stores located in high-traffic urban areas after determining the format no longer aligned with its long-term strategy. The company also introduced two new store prototypes to better support its revised coffeehouse model.One month later, Starbucks unveiled additional restructuring efforts that would take place over the following year, according to a company announcement.Starbucks’ cost cutsClosing approximately 500 North American storesEliminating about 900 non-retail corporate rolesRemoving open positionsHowever, reinventing one of the world’s largest coffee chains comes at a steep cost.Starbucks estimates the turnaround effort will require approximately $1 billion in total investment, with around 90% of those expenses concentrated in North America.Early signs Starbucks’ turnaround may be workingDespite the disruptions, early results suggest Starbucks’ strategy may already be delivering results.In the first quarter of fiscal 2026, Starbucks reported a global comparable store sales increase of 4% year over year, with North America comparable store sales up 4%. The gains were driven by higher transaction volumes and higher average ticket size.Monthly visits to Starbucks stores were down about 0.6% during the first half of 2025 but jumped to around 1.6% during the first five months of the second half of the year, according to Placer.ai.The company also opened 128 net new stores worldwide during the quarter, bringing its total U.S. locations to 16,911.Starbucks CEO Brian Niccol said the results show the turnaround is progressing faster than expected.”Our Q1 results demonstrate our ‘Back to Starbucks’ strategy is working and we believe we’re ahead of schedule,” said Niccol in the company’s earnings release. “It’s great to see the sales momentum driven by more customers choosing Starbucks more often.”Starbucks CFO Cathy Smith added that the company’s initiatives are gaining momentum.”We have a clear line of sight to translating topline strength into sustainable earnings growth that positions us for long-term profitable growth,” said Smith in the earnings report.Analysts remain cautiously optimistic According to MarketBeat, Starbucks currently holds a consensus “Moderate Buy” rating from 28 brokerage firms as of March 2026, with several analysts upgrading the stock to “Outperform.”Starbucks’ shares have increased 20.46% year to date as of market open on March 11, 2026.However, some analysts believe the company is still in the early stages of its turnaround.An investment analyst under the name YR Research on Seeking Alpha assigned Starbucks a “Hold” rating, arguing that expectations of recovery may already be reflected in the stock’s valuation.”When we get closer to the next stage, that’s when Starbucks might become more attractive. However, right now, valuation is high, and expectations are also high, leaving very little room for upside, if any,” said YR Research.Meanwhile, Simply Wall St equity analyst Bailey Pemberton said the store closures could open the door for small chains and independent coffee shops to expand into markets that Starbucks once dominated.”As these shifts play out, you can watch how Starbucks balances its expansion efforts with more targeted store footprints in key regions,” said Pemberton. “Store closures and the handover of some sites to smaller competitors could work against the goal of reestablishing Starbucks as a consistent “third place” if traffic fragments in key urban neighborhoods.”Related: Wendy’s targets new customer group amid mass U.S. store closures

Harmony Gold had good news for shareholders this week. They doubled the dividend. Investors responded by dumping the stock.Shares of the South African miner fell on the New York Stock Exchange after the company released its first-half results on Wednesday. The numbers told two very different stories at once.On one hand, operating profit surged 61%. The interim dividend hit a record ZAR 3.4 billion, roughly $204 million. On the other hand, the company missed its production target and costs blew out in almost every direction.Wall Street looked at both stories and chose to focus on the bad one.Why Harmony Gold investors are punishing the stockHarmony was supposed to produce around 800,000 ounces of gold in the first half of the year. It produced 724,099 ounces instead. That is a 9% drop from the same period a year ago.Part of the blame falls on a sodium cyanide shortage that hit the entire South African gold industry. The disruption affected recoveries particularly in surface operations, which consume more sodium cyanide than underground mines, the company said in its official announcement.Underground grades also disappointed. Recovered grade fell 11% to 5.72 grams per tonne, down from 6.44 grams per tonne a year ago. Lower metallurgical recoveries and unplanned grade dilution made things worse.More Gold:Gold, silver surge after record drop flashes technical signalSilver and gold tumble triggers major reset for mining stocksJ.P. Morgan revises gold price target for 2026Then came the cost shock. All-in sustaining costs jumped 21% to $2,115 per ounce. Cash operating costs rose 25%. Labor inflation, Eskom load shedding, and lower production volumes all piled on at the same time, the company disclosed in its SEC filing.First-half production results at a glance:Gold output: 724,099 oz, down 9% from a year agoUnderground recovered grade: 5.72 g/t, down from 6.44 g/tSouth Africa high-grade underground output: down 14%Hidden Valley in Papua New Guinea: up 4%, a rare bright spotAll-in sustaining cost: $2,115 per oz, up 21%The dividend double the market ignoredIn the middle of all this, Harmony made a bold move on shareholder returns.The company announced a new dividend policy that pays out up to 50% of net free cash flow. The interim payout jumped to ZAR 5.30 per share, more than double what shareholders received a year ago and 58% above analyst consensus.The balance sheet is in strong shape to support it. Harmony ended the period with R8 billion in net cash, zero debt, and total liquidity of about R14.8 billion. Free cash flow covered both capital spending and the dividend with room left over.CEO Beyers Nel was direct about the tough quarter. Speaking on the earnings call, he said operational fundamentals remain firmly intact despite short-term headwinds, and that plant recoveries have since normalized. He confirmed the company is still on track to meet its full-year targets.Harmony Gold’s second-half recovery plan, explainedManagement is not backing down from its full-year guidance of 1.4 to 1.5 million ounces. To get there, the second half needs to deliver roughly 420,000 more ounces than the first half. That is a big number to make up.The cyanide supply issue is being resolved by shifting stock between operations and commissioning a new dissolution plant. Eskom power risk is being partially offset through renewables contracts covering about 20% of energy needs.

HASSAN / AFP via Getty Images)

Underground grade is expected to recover above 5.8 grams per tonne by year end. The company is counting on tighter blast control and better mine sequencing at Moab Khotsong and Mponeng to get there.Key second-half recovery targets:Gold output: approximately 420,000 more oz still needed in the second halfUnderground recovered grade: back above 5.8 g/tAll-in sustaining cost guidance: R1.15 million to R1.22 million per kilogramEva Copper project: contractor now mobilizing to siteCSA copper mine in Australia: maiden production already underwayGold at $3,400 is not saving gold stocks right nowGold has been one of the best performing assets of the year, trading near $3,400 per ounce. That should have been a major gift for Harmony.And in some ways it was. The company’s average realized price for the period was $3,421 per ounce, up 36% from a year ago. That figure, confirmed in Harmony’s SEC filing, pushed revenue up 20% to $2.56 billion and drove operating profit up 61%.But a high gold price only helps if you are actually pulling gold out of the ground efficiently. Harmony was not doing that in the first half of the year. When output falls and costs spike at the same time, even $3,400 gold cannot paper over the cracks.Gold miners broadly have lagged the spot price by about 15% this year. Harmony’s selloff fits right into that frustrating pattern for the sector.The stock now sits at roughly 14 times forward earnings and about six times enterprise value to earnings before interest, taxes, depreciation, and amortization (EBITDA). That is a clear discount to bigger peers like Newmont (NEM) and Barrick Gold (GOLD). The question is whether management can close that gap with a stronger second half. The third-quarter operational report will be the first real test of that promise.Related: Analysts have a message for investors on the gold price drop

If you like saving money on groceries, Aldi is the place to shop. This discount grocer features rock-bottom prices on the most popular grocery items as well as organic meats, milk and specialty cheese.

In addition to its fantastic prices on all your favorite grocery items, Aldi features special deals each week in its Aldi Finds ad. This week’s ad features deals on Easter basket options, spring home decor, farmhouse kitchen goods and more!

These items are available in limited quantities while supplies last, so you’ll want to shop early to get the best selection! If you’re an Instacart+ member, you qualify for free curbside pickup and delivery on orders of $35 or more. This includes Aldi’s middle aisle items!

Note that start dates of the ad may vary slightly by location, but you can input your zip code here to find the exact date these items will be available at your store. See all the deals at Aldi this week here!

Save With the Best Deals From “Aldi Finds” Available Right Now

Assorted Easter Squishmallows for $8.99

You can find some adorable spring Squishmallows for a great price! Compare to similar Squishmallows for $12.99. You can also purchase a pack of five 2.5″ Squishmallows for $9.99!
Lego 64-piece creator building blocks bag for $4.99

This is perfect for an Easter basket! This set is exclusive to Aldi.
Little Town wooden egg stacker for $6.99

This is another Easter gift, perfect for little hands to play with. Compare to a similar set at Bella Luna for $15.99.
Kirkton House 18″ x 30″ Spring coir mat for $6.99

Welcome guests with a floral spring mat! Find a similar mat for $11.99 at Michael’s.
Kirkton House 2′ x 6′ washable scalloped runner for $19.99

Find a variety of spring runners for your hall. Compare to similar runners are Lahome for $59.99.

 Belavi wooden plant ladder stand for $24.99

 
Put this in a nice sunny corner for your plants! You can find a similar stand at Bed Bath and Beyond for $29.15. 
Kirkton House propagation glass vases for $9.99

Propagate those cuttings in style! Find a similar stand at Walmart for $19.98.
Belavi plant holder on stand for $12.99

This plant holder adds function and flair! Compare to a similar holder at At Home for $22.99.
Serra ladies pleated front woven dress for $14.99

This dress can serve you all spring and summer long! Find a similar dress at Old Navy for $27.49.
Crofton ceramic salt & pepper cellars for $7.99

These little farmhouse-style cellars add function and beauty! Find a similar set at Target for $10.
Crofton Farmhouse cast iron braiser for $19.99

This is compatible with all cooktops, including induction! Compare this braiser to one at Target for $51.99.
For even more great deals and discounts, sign up for the Clark Deals daily newsletter!The post The Best Deals of Aldi’s Middle Aisle in March appeared first on Clark Howard.