Geoff Bennett:

Union organizers said the strikes took place at about 10 stores in the Los Angeles, Seattle and Chicago areas, and the strike could expand to hundreds of coffee shops by Christmas Eve. The coffee giant said in a statement that there would be no significant impact on its operations.

The Biden administration announced today that it will cancel an additional $4 billion in student debt for approximately 55,000 borrowers who work in public service. This relief is the result of corrections made by the Department of Education to the public service loan forgiveness program. The president has canceled more student debt than any other president, forgiving $180 billion for nearly five million people in debt.

But Republican-led legal challenges have hampered the president’s efforts to deliver large-scale aid.

Party City, the once-popular party supply store, is closing its doors after nearly 40 years in business, according to CNN. Store employees were told today would be their last day as the company closed down operations. It comes as discount store Big Lots also prepares to close its doors amid its own bankruptcy. Both chains have struggled against online competitors like Amazon.

And, on Wall Street, stocks reversed what was a dismal week of losses to end on a mostly positive note. The Dow Jones industrial average gained nearly 500 points on the day. The Nasdaq posted a big gain of nearly 200 points, and the S&P also finished up more than a percentage point.