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Boosting pay: Starbucks plans to expand tipping options and introduce performance-based bonuses for baristas as part of its U.S. turnaround strategy. The changes, expected this summer, could boost worker pay by up to 8% while incentivizing stronger service and sales amid ongoing labor negotiations with unionized stores. Read more from The Wall Street Journal.
Withdrawal wave builds: Blue Owl is facing a surge in investor withdrawal requests from two of its private credit funds, with nearly 22% of shares requested for redemption in its flagship fund and more than 40% in its tech-focused fund. The firm, which is also the majority owner of Meta’s $10 billion Louisiana data center project, has capped withdrawals at 5%, citing market anxiety over AI-driven disruption to software companies. Read more from CNBC.
Gap widens: The U.S. trade deficit widened in February, but by less than expected as both imports and exports climbed. Exports rose on strong gold and natural gas shipments, while imports increased on demand for computers and autos. The data offers an early signal for first-quarter GDP as economists assess the economy’s trajectory. Read more from Bloomberg. A subscription may be required.
Editor’s note: Daily Report will not be published on Friday, April 3. Daily Report will return Monday, April 6. Have a safe and happy holiday!
