Business
Seattle could lose $750M as Starbucks expands in Tennessee, adds 2,000 jobs
Independent journalist Brandi Kruse joins ‘Varney & Co.’ to discuss Seattle mayor-elect Katie Wilson’s struggles with business as her ‘progressive tax revenue’ and jobless pay for striking workers have citizens worried about the economy.
Seattle could lose hundreds of millions of dollars in tax revenue as Starbucks expands operations in Tennessee, a local outlet estimates.
Fox 13 Seattle reported Tuesday that the Emerald City “could lose up to $750 million in tax revenue in the coming years as Starbucks expands in Tennessee instead of Washington.”
In a press release Tuesday, Starbucks announced it will invest $100 million and bring 2,000 new jobs to Nashville.

A worker at a Starbucks coffee shop makes a drink at the Detroit Metro Airport in Michigan. (Jim West/UCG/Universal Images Group via Getty Images / Getty Images)
“Starbucks has major plans for its newest business location, where it will employ up to 2,000 people over the next several years to serve in a variety of corporate-related operations,” the announcement said.
“The Nashville office will directly support continued coffeehouse expansion and rising customer demand, particularly in the southeastern U.S., while working closely with the company’s global headquarters in Seattle.”
Tennessee Gov. Bill Lee welcomed the announcement Tuesday, writing in a post on X, “Great to welcome @Starbucks’ continued investment in TN as it establishes its new Southeastern hub in Music City.
“This iconic global company’s $100 million investment — a testament to our strong economy & unmatched workforce — will create 2,000 new jobs for Tennesseans.”
Fox 13 Seattle called Lee’s attitude “sharply different from Seattle Mayor Katie Wilson when she encouraged a crowd to boycott the company shortly after she was elected mayor,” noting that Wilson’s remarks were given to a crowd during a Starbucks union workers rally in November.
“I am not buying Starbucks, and you should not too,” Wilson said.

A closed Starbucks location at 505 Union Station as demonstrators protest nearby in Seattle July 16, 2022. (David Ryder/Bloomberg via Getty Images / Getty Images)
In a statement to Fox 13 Seattle, Wilson said, “Starbucks is a core part of Seattle’s identity. We’re proud to be home to its first store, its headquarters and so many of the workers who make the company what it is. We’re focused on maintaining a strong partnership with leadership and with employees, so Starbucks continues to succeed in the city where it all began.”
The Tax Foundation ranked Washington state sixth overall in the nation for doing business in its 2014 State Business Tax Climate Index.
In 2026, the Tax Foundation ranked the state as 45th overall.
In March, Washington state Democrats passed the “millionaires tax,” which Democratic Gov. Bob Ferguson signed March 30.

Starbucks employee Charlie Grandos leads a rally as part of a collective action over a Pride decor dispute outside the Starbucks Reserve Roastery in Seattle June 23, 2023. (Reuters/Matt Mills McKnight / Reuters Photos)
The “millionaires tax” is the state’s first-ever income tax, supported by progressives and socialists and opposed by conservatives. The Wall Street Journal editorial board called it a “con” after its passage that will “inevitably capture the middle class.”
It will impose a 9.9% income tax on households earning more than $1 million each year. The tax applies to any money earned after the first $1 million of someone’s annual income. It will take effect Jan. 1, 2028, with the first payments due in April 2029, KOMO News reported.

The Seattle skyline (Juan Mabromata/AFP via Getty Images / Getty Images)
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Fox News Digital reached out to Starbucks and Wilson for comment but did not immediately receive responses.
Business
How Will Concussion Affect His Performance in the Playoffs?
SAN ANTONIO — Victor Wembanyama’s frightening face-first fall in the second quarter of Game 2 has left the San Antonio Spurs without their franchise cornerstone and raised serious questions about how a concussion will impact the towering 7-foot-4 phenom’s play if and when he returns in the 2026 NBA playoffs.
Wembanyama suffered a diagnosed concussion after tumbling hard to the court following contact with Portland Trail Blazers guard Jrue Holiday during a drive to the basket Tuesday night. He exited with just 12 minutes played, recording five points, four rebounds, one block and one assist, and did not return as the Blazers stole a 106-103 road victory to knot the Western Conference first-round series at 1-1.
The injury occurred at the 8:57 mark of the second quarter when Wembanyama spun around Holiday, lost his balance and slammed face-first onto the hardwood. He remained down for several seconds, appeared dazed while struggling to stand and jogged directly to the locker room after a timeout. Spurs coach Mitch Johnson confirmed postgame that Wembanyama had a concussion and was placed in the NBA’s concussion protocol.
Under league guidelines, Wembanyama cannot engage in full participation for at least 48 hours from the time of injury and must remain symptom-free while progressing through a stepwise return-to-play process. He can begin gradual activity after 24 hours if symptoms do not worsen, followed by monitored exertion levels, non-contact drills and eventual clearance from both the team physician and the NBA’s concussion protocol director. Further testing was scheduled for Wednesday.
The timeline puts Game 3 on Friday in Portland in serious doubt. Many observers, including ESPN’s Stephen A. Smith, believe a return for Game 3 is highly unlikely. A more realistic target appears to be Game 4 on Sunday or, more conservatively, Game 5 next Tuesday back in San Antonio. Average NBA concussion recovery spans about seven to 10 days, though individual cases vary based on symptom severity.
For a player of Wembanyama’s unique physical profile, even a mild concussion carries amplified risks. The 22-year-old’s extraordinary height means any fall generates significant force upon impact, potentially affecting balance, coordination and spatial awareness — all critical to his game. Concussions commonly cause headaches, dizziness, sensitivity to light or noise, slowed reaction times, impaired concentration and reduced cognitive processing, symptoms that could blunt Wembanyama’s elite shot-blocking, perimeter defense and stretch-big scoring.
In the regular season, Wembanyama anchored the Spurs’ defense while emerging as a versatile offensive threat capable of scoring inside, draining threes and facilitating. His playoff debut in Game 1 was electric: a franchise-record 35 points on 13-for-21 shooting, including five threes, plus five rebounds and two blocks in a 111-98 victory. Without him in the second half of Game 2, San Antonio’s interior defense softened, allowing Portland to exploit mismatches and mount a late rally.
Veteran Luke Kornet stepped in at center and delivered a solid 10 points and nine rebounds in 28 minutes, but the drop-off from Wembanyama’s rim protection and switchability was evident. The Spurs’ young supporting cast, including rising talents like Stephon Castle, showed flashes but lacked the gravitational pull Wembanyama provides.
Medical experts note that returning too soon from a concussion can prolong recovery or lead to second-impact syndrome, a rare but dangerous condition. The NBA’s protocol emphasizes caution, particularly in the heightened intensity of playoffs where physicality and fatigue rise. Wembanyama’s history includes a recent rib contusion late in the regular season, though that injury was unrelated.
Spurs leadership has stressed patience. “We’ll take the proper and appropriate steps,” Johnson said. “It’s tough, but health comes first.” Team officials have not ruled out Wembanyama traveling with the squad to Portland, but his on-court status remains fluid pending daily evaluations.
The absence reshapes the series dynamics. Portland, seeded seventh, seized momentum by capitalizing on San Antonio’s diminished frontcourt. Blazers players and coaches expressed concern for Wembanyama’s health while acknowledging the opportunity. If Wembanyama misses multiple games, Portland’s path to an upset brightens considerably, forcing the Spurs to rely more heavily on perimeter scoring and collective defense.
Historically, NBA teams missing star players to concussion in the postseason have mixed results. Some recover quickly and return stronger; others experience lingering effects that subtly erode performance — missed rotations on defense, delayed help-side help, or hesitation on drives. For Wembanyama, whose game relies on length, anticipation and fluid movement, any residual dizziness or neck stiffness could limit his trademark chase-down blocks or step-back threes.
Broader concussion awareness in the NBA has improved, with stricter protocols implemented over the years following high-profile cases. Players like former stars who dealt with repeated head trauma have spoken publicly about long-term cognitive concerns, though Wembanyama’s situation appears isolated to this single incident.
Fan reaction on social media and in San Antonio has been one of worry mixed with optimism for a swift recovery. The Frost Bank Center crowd Tuesday night fell silent during the sequence, a stark contrast to the electric atmosphere of Game 1 when Wembanyama’s playoff arrival felt like a coronation.
If cleared, Wembanyama’s return could swing momentum back to the Spurs, who finished the regular season with the Western Conference’s second-best record behind their superstar. His presence transforms San Antonio from a promising young team into a legitimate contender capable of making noise beyond the first round.
Yet the injury underscores the fragility of even the most physically gifted athletes in a grueling playoff grind. The series now shifts to Portland’s Moda Center, where the Blazers will look to build on their Game 2 resilience. San Antonio must find answers without its defensive anchor, testing the depth and composure of a roster still gaining postseason experience.
Medical updates will dominate the narrative over the next 48 hours. Should symptoms resolve quickly, Wembanyama could rejoin the lineup feeling fresh after enforced rest. More persistent effects might sideline him longer, forcing the Spurs into survival mode.
Wembanyama himself has projected confidence and maturity throughout his young career. In interviews before the series, he spoke of embracing the playoff stage and learning from every moment. How he navigates this health challenge will add another layer to his rapid ascent from French prospect to NBA superstar.
For now, the Spurs face an immediate test of resilience. Portland smells blood in the water after even the series, while San Antonio must adapt without its most irreplaceable piece. The coming days will reveal not only Wembanyama’s recovery timeline but also the depth of a franchise built around his extraordinary potential.
As the Western Conference playoffs intensify, one thing remains clear: the Spurs’ championship aspirations hinge heavily on their towering French star staying healthy and performing at the level that has already rewritten expectations in San Antonio. A prolonged absence could turn a promising postseason into an early exit, while a timely return might ignite a deeper run.
The basketball world watches closely, hoping for a full recovery that allows Wembanyama to showcase his generational talent on the biggest stage without compromise.
Business
Japan’s Nikkei reverses below 60,000 level as profit-taking steps in

Japan’s Nikkei reverses below 60,000 level as profit-taking steps in
Business
Asia’s Clean Energy Boom Reshapes the Global Power Sector and Unlocks a $15 Billion Market
Asia is rewriting the rules of the global energy system. The region’s record-breaking expansion of solar power has now pushed clean electricity generation past its own demand growth, triggering what analysts describe as the sharpest annual decline in fossil-fuel electricity production this century.
Key takeaways
- Asia’s record solar expansion has driven the biggest annual fall in fossil-fuel electricity generation this century, with China and India both recording declines in fossil power for the first time.
- Asia’s green technology and sustainability market is on track to more than double from $6.4 billion in 2024 to nearly $15 billion by 2032, growing at 11.3% annually.
- IoT and green buildings are leading the technology shift, backed by sweeping government policies like China’s 14th Five-Year Plan and India’s rapid build-out of renewable energy capacity.
Simultaneously, the continent is becoming the epicentre of a fast-growing green technology market projected to nearly double in value by 2032.
Together, the two trends are pointing toward a structural, not merely cyclical, shift in how the world’s most populous region powers its economies.
A Historic Turn in the Power Sector
According to reporting by Nikkei Asia, Asia’s record increase in solar power generation last year helped clean power surpass the region’s electricity demand growth, resulting in the largest annual decline in fossil-fuel generation this century.
The scale of that achievement is difficult to overstate. Asia accounts for the bulk of the world’s coal consumption and, until recently, remained the principal driver of rising global emissions. That the region is now leading the retreat from fossil fuels, outpacing Europe and North America, marks a dramatic reversal.
The shift is being driven by a handful of large economies acting in concert. China and India, historically the largest contributors to the global rise in fossil power, both recorded a fall in fossil generation in 2025. In both countries, record clean power additions outpaced demand growth. This brought net growth in global fossil generation to a halt, a milestone that appeared distant only a few years ago.
Solar power has been the decisive technology. Solar power cemented its role as the dominant driver of change in the global power sector, with its record growth meeting three-quarters of the net rise in electricity demand in 2025.
The momentum extends well beyond China and India. Asia started its electricity transition later than other regions, but is catching up fast. The share of solar and wind energy in Asia is now almost equal to the world average, and the share of renewables in Asia’s electricity mix reached 29% in 2024.
A Green Tech Market Racing to Keep Pace
The power sector transition is not happening in isolation. It is being accompanied by a broader surge in demand for green technology and sustainability solutions across industry, urban infrastructure, and agriculture.
According to market research firm P&S Intelligence, the Asian green technology and sustainability market was $6,415.9 million in 2024 and will reach $14,944.7 million by 2032, growing at 11.3% during 2025 to 2032. That trajectory would see the market more than double in under a decade.
The forces driving this expansion are partly environmental, partly economic, and partly regulatory. Asia’s position as a major carbon emitter has intensified the demand for green technology solutions. Over the past few years, Asia, particularly China, has emitted carbon at an alarming rate, driven by rapid economic growth and energy consumption. Among all the sources, coal accounted for approximately 15.4 billion metric tonnes of emissions in 2023. That environmental pressure has catalysed consumer demand for eco-friendly products and given decisive impetus to companies offering green solutions across the region.
Government policy is adding structural momentum. China’s 14th Five-Year Plan (2021 to 2025) aims to reduce emission intensity by 18% and sets a reduction target of 13.5% for energy intensity over a period of five years. Similar initiatives across Asia are demonstrating strong governmental commitment to sustainability.
India, meanwhile, is building out its renewable infrastructure at a striking pace. India’s installed renewable energy capacity reached 201.45 GW in October 2024, making up 46.3% of the country’s total installed power generation capacity.
Technology Is at the Core
The green technology market is not simply about solar panels and wind turbines. Increasingly, it encompasses a sophisticated ecosystem of digital tools, including IoT sensors, artificial intelligence, cloud computing platforms, and carbon monitoring software, that together are enabling industries to reduce their environmental footprints in real time.
IoT technology accounted for the largest revenue share in 2023, at 42.6%, and is anticipated to continue leading the market. Cloud infrastructure is also gaining ground rapidly, with adoption rising due to its ability to optimise energy resources and integrate seamlessly with IoT devices across geographies.
The green buildings category held the largest market share in 2024, due to the rising commercialisation and industrialisation in Asia, which has increased building construction to meet business and residential needs. Green buildings, which use recyclable materials and energy-efficient systems, including solar panels, have become the primary application segment for these technologies.
The Road Ahead
The convergence of record-breaking clean power generation and a rapidly expanding green technology market suggests Asia’s energy transition has moved beyond the demonstration phase into one of industrial-scale deployment.
The future of the global power system is being shaped in Asia, with China and India at the heart of the energy transition.
Yet the region’s scale means that challenges remain formidable. Electricity demand across Asia is rising sharply, driven by data centres, electric vehicles, and the electrification of heating and industry. Sustaining a clean-power surplus above that demand growth will require continued investment and continued political will.
For now, the data tells a story that would have seemed improbable at the start of this decade: Asia, long regarded as the world’s most stubborn fossil-fuel dependency, is leading the planet’s most consequential energy transition.
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Private banks to see a higher rise in NPAs than public peers in FY27
AgenciesThe divergence reflects private banks’ higher exposure to unsecured retail and MSME advances, which have been the primary source of stress across the sector. ICRA flags that the stress is increasingly concentrated in the MSME and retail segments, with the rural economy seen as bearing the brunt. The ongoing West Asia conflict adds a further layer of uncertainty, with potential job losses — particularly in the IT sector — flagged as a watch item for personal loan performance.
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Threads Debuts ‘Live Chats’ For Users to Join During Live Events, Starting with the NBA Playoffs
Meta is now giving Threads users a chance to engage in real-time conversations and discussions regarding a specific topic with “Live Chats,” a new feature that is now rolling out to the platform.
The new feature will initially see a limited run, beginning with the NBA Threads community to allow users discuss the ongoing first round of the NBA Playoffs.
Threads Debuts ‘Live Chats’ to Discuss Ongoing Events
Meta announced that it is rolling out a new feature called Live Chats to test its capabilities to deliver a new channel for Threads users to air out their comments or thoughts on a certain live event as they unfold.
According to Meta, the test will first make Live Chats available to the NBA Threads community, with members given the chance to host live chat sessions during different games in the NBA Playoffs.
The social media platform said that users may see a “live chat” as they scroll their feed, and they may choose to view it and take part by tapping “Join Chat.”
As many as 150 users are allowed to join a single Live Chat session, which includes engaging features like chats, reactions, poll votes, and more on the mobile platform.
Meta First Rolls Out Live Chats for the NBA Playoffs
The Playoffs season has gotten many users and fans riled up on online platforms like Meta’s Threads, and the company is now giving them the chance to air out their opinions and takes for others to read and respond to via this new Live Chats feature.
According to Meta, Live Chats are public, but hosts may choose to limit those who can send messages by setting the session to “invite-only.”
The test will launch starting April 23 for specific Playoffs games in the league, starting with the Cleveland Cavaliers and Toronto Raptors’ second first round game that is heading to the Scotiabank Arena.
Users may check out the specific schedules of Live Chat sessions on the NBA Threads community, hosted by designated Threads users.
Live Chats is one of the community engagement features of Threads, with the company previously launching a way for creators to promote and discuss their shows directly on the platform via the Threads for Podcasts feature.
Originally published on Tech Times
Business
Iran Claims ‘Impossible’ to Reopen Strait of Hormuz Due to ‘Flagrant’ Ceasefire Violations by US

The speaker of the Iranian parliament has said that reopening the Strait of Hormuz is “impossible.”
Mohammad Bagher Ghalibaf blames this on the “flagrant” breaches of the ceasefire by the US government. US President Donald Trump previously declared that he was extending the ceasefire indefinitely.
Ghalibaf Claims ‘Impossible’ to Reopen Hormuz
According to a report by The Guardian, Ghalibaf took to social media to say that the US and Israel “did not achieve their goals through military aggression, nor will they through bullying.”
Ghalibaf counts the US naval blockade as breach of the ceasefire both parties agreed on. He likewise accused the US of “the hostage-taking of the world’s economy” and “Zionist warmongering.”
The report notes that Iran has seized two ships in the Strait of Hormuz. One is the Panama-flagged MSC Francesca, while the other is the Liberia-flagged Epaminondas. Iran has accused both ships of “attempting to exit the strait of Hormuz covertly.”
The Guardian notes that the Epaminondas is Greek-operated, leading to Greece’s foreign minister confirming that there had been an attack against a Greek-owned cargo ship.
Aside from the seizure of these two ships, Iran had also fired on a third ship in the strait, according to a report by 9News.
The report states that the Revolutionary Guard attacked a third ship, which has since been identified as the Euphoria. Iranian media has claimed that the Euphoria is now reportedly “stranded” on the Iranian coast.
Will Iran Participate in Any Peace Talks?
Iran’s Foreign Ministry spokesperson Esmail Baghaei has said that the country has not decided if it will participate in fresh peace talks initiated by the US.
Baghaei went on to accuse the US of “disregard and lack of good faith” in negotiations.
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