Starbucks announced it will slash an estimated 6,000 jobs by closing 300 stores around the globe in addition to 200 stores already scheduled for shutdown in U.S. The coffee giant's profits are down by nearly 70 percent.

The U.S. House of Representative has defeated the bill that would delay the national digital TV transition to June 12. The DTV transition will continue as scheduled on February 17 unless a new vote takes place in the coming weeks.

Israel "Cachao" Lopez, the Cuban musician widely credited with inventing the mambo, passed away this weekend.

A California judge ordered Starbucks to pay baristas $100 million in back tips because shift supervisors were unfairly taking a share of the servers' tips.