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By DEE-ANN DURBIN, Associated Press

NEW YORK (AP) — Starbucks said Thursday that it plans to open hundreds of new stores across the U.S. and add seating capacity at thousands of existing locations, doubling down on a strategy of emphasizing the company’s cafes as community hubs even as consumer demand for drive-thru coffee grows.

The company unveiled its plans during a presentation in New York for investors. After announcing in September that it would close hundreds of less profitable stores, Starbucks said it now expects to open up to 175 new U.S. coffee shops this year and around 400 in 2028.

Its plans include smaller-format stores that are 20% cheaper to build but still offer comfortable seating, drive-thru service and mobile order pickup capacity.

Chairman and CEO Brian Niccol said Starbucks ultimately sees an opportunity to build at least 5,000 new cafes across the U.S., with the smaller store format presenting much of that opportunity. There are thousands of sites where no Starbucks operates within a mile of a competitor, he said. Starbucks is particularly eyeing the central, southern and northeastern U.S. for store development. read more

Royal Caribbean is making waves in the cruise industry with big plans for the next several years, including a new class of oceangoing ships and 10 new river ships.

Royal Caribbean Group announced a series of agreements with the Chantiers de l’Atlantique shipyard in France to secure the construction of its new Discovery class. Jay Schneider, Royal Caribbean’s chief product innovation officer, previously noted that the new ships would be smaller than the cruise line’s gigantic Icon class ships.

The news confirms two firm ship orders with options for four additional ships. The first ship in the class is set to debut in 2029, while the second ship is scheduled for delivery in 2032.

“The Discovery Class represents our continued commitment to shaping the future of vacations,” said Jason Liberty, chairman and CEO of Royal Caribbean Group, in a news release. “These ships will be a showcase of what’s possible when design meets purpose, ultimately bringing the world closer to our guests.” read more

By CORA LEWIS, Associated Press

NEW YORK (AP) — Tax filing season is underway, and the IRS expects 164 million people will file returns by April 15.

The average refund last year was $3,167. This year, analysts have projected it could be $1,000 higher, thanks to changes in tax law. More than 165 million individual income tax returns were processed last year, with 94% submitted electronically.

People with straightforward returns should not encounter delays, but because of an exodus of IRS workers since the start of the Trump administration, the national taxpayer advocate has cautioned that the 2026 tax filing season is likely to present challenges for those who run into problems filing.

While last year IRS employees were not permitted to accept a buyout offer from the Trump administration until after the taxpayer filing deadline, many of those customer service workers have now left. The IRS started 2025 with about 102,000 employees and finished with roughly 74,000 after a series of firings and layoffs led by the Department of Government Efficiency. read more

By ALEX VEIGA, Associated Press

The average long-term U.S. mortgage rate edged up for the second week in a row, but remains just above its lowest level in more than three years.

The benchmark 30-year fixed rate mortgage rate rose to 6.1% from 6.09% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the rate averaged 6.95%.

Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also rose this week. That average rate inched up to 5.49% from 5.44% last week. A year ago, it was at 6.12%, Freddie Mac said.

Mortgage rates are influenced by several factors, from the Federal Reserve’s interest rate policy decisions to bond market investors’ expectations for the economy and inflation. They generally follow the trajectory of the 10-year Treasury yield, which lenders use as a guide to pricing home loans.

The 10-year Treasury yield was at 4.24% at midday Thursday, just below where it was a week ago.

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Royal Caribbean confirms two ships in new Discovery class, 10 additional river vessels read more

The first holiday season of Epic Universe helped propel fourth-quarter theme-park revenue of Comcast, the company reported Thursday.

Revenue for October-December 2025 was $2.89 billion, an increase of 21.9% over the same period of 2024.  The numbers helped bring the Content & Experiences segment — including the company’s film studios and media businesses — up 21.9%.

“We’re really pleased with what we’re seeing from Epic, which continues to drive higher per-cap spending and attendance across the entirety of the resort while we are not yet operating at full run-rate capacity,” said Jason Armstrong, chief financial officer, in a conference call with market analysts after the earnings report was released. The theme park debuted in May.

“We have made meaningful progress expanding ride throughput, and we remain focused on scaling further over the next several quarters with higher attendance, stronger per-caps and additional operating leverage over time,” he said.

New Universal Studios coaster will be Fast & Furious: Hollywood Drift read more