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Starbucks has seen nearly $12 billion erased from its market value during the past month as sales reportedly have slowed amid tighter consumer wallets and growing labor strife — with some even speculating the chain has been hit by boycotts over the Israel-Gaza war.

Investors have grown wary that consumers will splash out on a pricey cup of joe during the holiday season when budgets get tighter, according to Bloomberg, citing sales data from JPMorgan analysts that signaled a material slowing at Starbucks in November.

Despite delivering better-than-expected sales growth of 8% in its fiscal fourth quarter, the coffeehouse’s share price has decelerated on a week-over-week basis, following trends in the snack and coffee industry.

When the markets opened on Monday, Starbucks’ stock dropped 1.6%, declining for a 11th consecutive session in what is the longest losing streak since Starbucks public debut in 1992. 

The rout erased 9.4% of Starbucks market value, a decline of nearly $12 billion.

As of early trading hours Thursday, the Seattle-based company’s share price was down roughly 6.5%, to $96.90, on a monthly basis.

When the coffeehouse chain’s share price started to decline, it was putting on its annual Red Cup Day.

The promotional event saw baristas handing out free red-colored, reusable, holiday-themed cups to customers on their coffee purchases on Nov. 16, though the festivities were overshadowed by a walkout.

Hundreds of workers represented by the Workers United union walked off the job on the notoriously busy day — demanding improved staffing and schedules — while non-unionized staffers endured one of the most infamously hard, understaffed days, as drink orders pile up and employees end up on the receiving end of abuse from frustrated customers over long wait times.

The protest was just the latest in Starbucks’ deep-rooted disagreements with the union.

Last month, the two entities filed warring lawsuits over the union’s social media post declaring “Solidarity with Palestine!” in the wake of Hamas deadly attacks.

After Workers United published the controversial statement in a since-deleted post on X last month — where it boasts nearly 100,000 followers — Starbucks swiftly moved to distance itself from the organization.

We unequivocally condemn acts of terrorism, hate and violence, and disagree with the statements and views expressed by Workers United and its members. Workers Uniteds words and actions belong to them, and them alone,” Starbucks said at the time.

The response was interpreted as a display of support for Israel over Palestine, prompting calls for a boycott. Despite Starbucks’ efforts to quell boycott calls, the hashtag #boycottstarbucks is still trending on social media.

According to TikTok’s Creative Center, a database that details user insights, the hashtag has been used in some 16,000 times over the past 30 days, generating a combined 167 million views.

On X, other social media users appear to be cheering Starbucks’ decline.

“I haven’t gone to Starbucks in months due to the boycotts and I am so happy to see less people there too,” a user who goes by Kate wrote.

“WE WON,” another chimed in while a slew of commenters said the slash in market cap was “deserved.”

When The Post reached out to Starbucks for comment, a company spokesperson pointed to a message from its chief partner officer, Sara Kelly, posted on Starbucks’ website last month.

“Starbucks unequivocally condemns acts of hate, terrorism and violence,” Kelly wrote. “As a leadership team, we want to again express our deepest sympathy for those who have been killed, wounded, displaced and impacted following the heinous acts of terror, escalating violence and hate against the innocent in Israel and Gaza.”

Though Starbucks’ total value was down, its store sales at its 35,000-plus locations worldwide rose 8% for its 2023 fiscal year that ended in November.

Earlier this month, Starbucks said it would raise hourly pay for its US retail workers by at least 3% from 2024 after Workers United’s repeated pleas to give baristas an increased hourly base wage.

Staffers affiliated with Workers United which represents Starbucks staffers at 340 Starbucks locations across the US criticized the increase, calling it tone deaf given Starbucks recently-reported increases in revenue and the recent wage hikes won by auto workers.

Meanwhile, one of union’s founding organizers, Jaz Brisack, has previously voiced support for Palestinian terrorist Rasmea Odeh, who was involved in bombings in Jerusalem in 1969 and 1970.

Brisack penned an op-ed in the Daily Mississippian in 2017 that referred to Odeh as a political prisoner.

Odeh was freed by Israel as part of a prisoner exchange in 1980 but arrested in the US in 2013 after illegally entering the country in the 1990s.

She was deported to Jordan in 2017.

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TV presenter Jay Blades appears in court charged with two counts of rape

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TV presenter Jay Blades appears in court charged with two counts of rape

TV presenter Jay Blades has appeared in court charged with two counts of rape.

The 55-year-old appeared via video link at Telford Magistrates’ Court and spoke only to confirm his name, address and date of birth at the six-minute hearing on Wednesday.

Blades, from Claverley in Shropshire, was granted conditional bail to appear at Shrewsbury Crown Court on 10 September.

He was not required to enter pleas during his first appearance.

The presenter found fame on the furniture restoration programme The Repair Shop after he started presenting in 2017.

A furniture restorer, he was the face of the popular BBC show that featured people having their treasured objects repaired and rejuvenated until he stepped back from presenting the programme last year.

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Backlash over police vans with facial recognition
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Blades was also the presenter of the BBC’s Money For Nothing until 2020 and took part in Celebrity Masterchef, Celebrity Bake Off, and Comic Relief.

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Sports

OU’s Mateer denies gambling, was ‘inside joke’

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OU's Mateer denies gambling, was 'inside joke'

Oklahoma starting quarterback John Mateer, after screenshots of past references to “sports gambling” on his Venmo account surfaced online Monday, denied ever being involved with gambling, saying Tuesday it was instead “inside jokes” with his friends.

School officials became aware of the screenshots late Monday night and are looking into the situation, a source told ESPN’s Pete Thamel.

“The allegations that I once participated in sports gambling are false,” Mateer posted to X on Tuesday. “My previous Venmo descriptions did not accurately portray the transactions in question but were instead inside jokes between me and my friends.

“I have never bet on sports. I understand the seriousness of the matter but recognize that, taken out of context, those Venmo descriptions suggest otherwise. I can assure my teammates, coaches, and officials at the NCAA that I have not engaged in any sports gambling.”

Screenshots posted online Monday night showed Mateer allegedly twice included “sports gambling” in memos for transactions on Nov. 20, 2022, while he was a freshman at Washington State. Both transactions were allegedly made to a Venmo account for Richard Roaten, believed to be a teammate at Washington State at the time.

College athletes are prohibited from betting on any sport offered by the NCAA, with penalties up to loss of eligibility.

OU Athletics issued a statement saying it “takes any allegations of gambling seriously and works closely with the NCAA in any situation of concern.” The school said its “unaware of any NCAA investigation and has no reason to believe there is one pending.”

Mateer, the No. 1 overall player in ESPN’s portal rankings, transferred to Oklahoma from Washington State this offseason. He passed for 3,139 yards and 29 touchdowns last season, his third with the Cougars.

Oklahoma is ranked 18th in the first Associated Press Top 25 poll. The Sooners open their season at home Aug. 30 against Illinois State.

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Sports

Kreul intentions: Five-star DE picks Sooners

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Kreul intentions: Five-star DE picks Sooners

Oklahoma secured its most significant commitment yet in the 2026 recruiting cycle on Tuesday when defensive end Jake Kreul, No. 22 in the 2026 ESPN 300, announced his pledge to the Sooners on “The Pat McAfee Show.”

Kreul, a 6-foot-3, 235-pound edge rusher from Florida’s IMG Academy, entered August as the lone remaining uncommitted among the 23 five-star prospects in ESPN’s prospect rankings for the 2026 cycle. He chose Oklahoma over Ole Miss and Texas following a slate of official visits this spring that included trips to all three finalists as well as Colorado, Florida and Ohio State.

Kreul lands with the Sooners as the 16th overall pledge and only the third ESPN 300 commit in Oklahoma coach Brent Venables’ 2026 recruiting class following the program’s 6-7 finish to the 2024 season. Kreul now stands as the top-ranked member of Venables’ latest class alongside fellow top-300 pledges in No. 5 dual-threat quarterback Bowe Bentley (No. 168 overall) and wide receiver Daniel Odom (No. 258). If Kreul ultimately signs later this year, it will represent Oklahoma’s fourth consecutive cycle with at least one five-star addition dating to the 2023 class.

Kruel took part in the 2025 Under Armour All-America Game earlier this year and will enter his senior season at IMG Academy this fall. One of the most polished defensive prospects in the 2026 class, he closed his junior campaign in 2025 with 39 tackles, 11 hurries and 6 sacks.

Oklahoma joined the likes of Florida and Ole Miss among the first major programs to prominently enter the mix for Kreul’s commitment nearly two years ago. Kreul told ESPN last month that his relationships with Sooners defensive line assistants Todd Bates and Miguel Chavis, along with Venables’ background of nearly two decades as a defensive coordinator were driving factors in his heavy interest in Oklahoma.

“The opportunity to play for a defensive-minded head coach and one of the best minds in the sport in coach Venables is something you may not get at every school,” Kreul said. “That piece is something that’s been very present for me throughout in terms of building my relationship with Oklahoma.”

Kreul now stands as the seventh defender bound for Oklahoma in 2026 and a cornerstone member of the Sooners’ latest class. Along the defensive line, Oklahoma also holds pledges from three-star defensive tackle Brian Harris and defensive ends Matthew Nelson and Daniel Norman.

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