Baristas break through… Starbucks and Workers United, the union repping 10K of its employees, agreed to create a master contract for its ~400 unionized stores. The move came after 21 stores filed for union elections in one day. Starbs said it’ll provide union baristas with pay hikes and benefits that were already granted to nonunion workers (like allowing tipping prompts for card transactions). It’s a venti win for Workers United, which has faced fierce opposition from Starbucks: the chain’s anti-union campaign has cost it an estimated $240M.
Tokyo shift… The Japanese stock market hit fresh highs for the first time in 34 years, outperforming the S&P 500 this year as global investors poured in. Warren Buffett’s holding co, Berkshire Hathaway, gassed up the rally by upping its stake in Japanese conglomerates that Buffett said are more “shareholder-friendly” than US companies. Also at play: a cheaper yen and investors moving their money from China → Japan. But a surging stock market ≠ a healthy economy: Japan’s GDP shrank for two straight quarters, losing the country its spot as the No. 3 economy.