Starbucks Ditches Vax Mandate in Wake of Supreme Court Ruling

Financial Daily Dose 1.20.2022

January 20, 2022

A week after SCOTUS scuttled the Biden Administration’s “effort to enlist large employers in its vaccination campaign,” Starbucks has “become one of the first major retailers to backtrack on vaccine plans” for its employees. Sbux had intended to require its workforce of 200,000 to either be fully vaxxed or submit to weekly Covid testing, but it’s dropped that plan in light of the ruling - NYTimes and WSJ

Another down day for stocks helped push the tech-heavy Nasdaq into correction territory, with the index closing more than 10% below its “all-time closing high, set in November.” Continued inflation paired with concerns about coming Fed rate hikes (intended, ironically, to fight that very same inflation) have left investors jittery to start 2022 - WSJ and MarketWatch

The day-after view of the Microsoft/Activision Blizzard mega-deal: don’t think too hard about it . . . Microsoft just wanted a bunch of games - NYTimes and WSJ

Because why wouldn’t the newest tech in mobile phones cause trouble for 1920s-era radio altimeters: the story behind why airlines are so freaked out about the launch of 5G and what it could mean for flights around the U.S. - NYTimes and WSJ

Unilever has decided to stick to its $68 billion offer for the GSK/Pfizer healthcare collab and will reportedly walk away from its recent efforts to buy out the unit. Unilever’s stock has taken a beating since news of the overture was made public, with analysts and investors alike criticizing the “price and strategic fit of the proposed transaction” - WSJ

Rising prices be damned, apparently, consumer demand powered Procter & Gamble to strong Q2 earnings (for the 3 months that ended in December), with earnings up 9% to $4.2 billion - NYTimes and WSJ

Disney has named Michael Paull, the former head of Disney+ and ESPN+, as president of the newly created Disney Streaming, which will add Hulu and Star+ and a global reach to Paull’s portfolio. The moves signify the role that streaming will play in Disney’s future and are among the first by Bob Chapek in his solo role atop the company - WSJ and Bloomberg

If your morning cuppa joe is non-negotiable, you may already know of the legend of James Hoffman, “one of the most followed men in caffeine.” If not, here’s your handy illustrated guide to the man himself - NYTimes

Stay safe, and get boosted,



The Robins Kaplan Financial Daily Dose features top stories and latest news headlines in financial markets, banking, securities and technology topics.