Starbucks named Laxman Narasimhan as its new CEO, months after former head Howard Schultz temporarily took over to steer the coffee giant through rising costs, a unionization push and challenges overseas. Mr. Narasimhan has served as chief executive of the maker of Lysol and Enfamil baby formula, U.K.-based Reckitt Benckiser Group , for the past three years.
The British Treasury chief said the U.K. was committed to a U.S.-led effort to put a cap on the price of Russian oil as a top Russian official said the country would refuse to sell oil at a capped price. Finance ministers from the Group of Seven wealthy nations are expected to virtually meet today and endorse an outline for capping the price of Russian oil. But the U.S.-led plan faces several major questions , including the level at which that cap would be set and whether Russia would agree to sell oil at a capped price.
Futures are mixed after stocks were mostly higher yesterday, breaking a losing streak ahead of this morning’s August employment report. The Dow Industrials were up 145 points, the Nasdaq lost 31 but the S&P 500 was up 11.
