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☆ Coach owner's Michael Kors deal creates US giant to take on European luxury rivals
▼ + stars: | 2023-08-10 | by ( Aishwarya Venugopal | ) www.reuters.com time to read: +3 min

Aug 10 (Reuters) - Coach parent Tapestry (TPR.N) will buy Michael Kors owner Capri Holdings (CPRI.N) in a deal valued at $8.5 billion, creating a U.S. fashion powerhouse to challenge larger European rivals for a bigger share of the global luxury market. Thursday's deal will also bring under one roof Tapestry's more affordable luxury brands Kate Spade, Stuart Weitzman and Capri's Jimmy Choo and Versace labels. That compares with about $87 billion for LVMH last year and roughly $23 billion for another European rival Kering (PRTP.PA). The deal will help Capri revive its Michael Kors brand under "better management" at Tapestry after weak sales in the past few quarters, analysts said. In the same year, Capri, formerly known as Michael Kors, acquired British shoemaker Jimmy Choo for $1.2 billion.

Persons: Michael Kors, Tiffany, Louis Vuitton, Thursday's, Kate Spade, Stuart Weitzman, Jimmy Choo, Versace, Morningstar, Jelena Sokolova, Tapestry, Neil Saunders, Capri, Joanne Crevoiserat, Kering, Valentino, LVMH, Aishwarya Venugopal, Savyata Mishra, Deborah Sophia, Chandni Shah, Sonia Cheema Organizations: Capri Holdings, Dior, Capri, Thomson Locations: Paris, U.S, Capri, Bengaluru

☆ Coach Owner Strikes $8.5 Billion Deal for Parent of Michael Kors, Versace
▼ + stars: | 2023-08-10 | by ( Lauren Thomas | Cara Lombardo | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones, michael, 91912d7

☆ Stocks making the biggest moves premarket: Capri, Tapestry, AppLovin, Disney and more
▼ + stars: | 2023-08-10 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines before the bell:Capri , Tapestry — Capri soared more than 57%, while Tapestry slid 3.2% in premarket trading. AppLovin — AppLovin shares popped 25.8% in early morning trading after the company posted strong second-quarter results and optimistic third-quarter revenue guidance. The game developer said it expects $780 million to $800 million in revenue for the third quarter, exceeding the $741 million expected by analysts. AppLovin reported earnings of 22 cents per share for the second quarter, while analysts expected 7 cents, according to Refinitiv. The amusement park company reported earnings of 25 cents per share on revenue of $444.0 million.

Persons: Kate Spade, Versace, Jimmy Choo, Michael Kors, AppLovin, Sonos, Refinitiv, Walt Disney, — Illumina, Yun Li, Jesse Pound, Pia Singh Organizations: Capri Holdings, Capri, Wynn, Wynn Resorts, Walt Disney —, Disney, Six Locations: Alibaba, China

Tapestry , the fashion conglomerate behind Coach and Kate Spade, will acquire competitor Capri Holdings in a $8.5 billion deal announced on Thursday. It brings together six fashion brands: Tapestry's Coach, Kate Spade and Stuart Weitzman and Capri's Versace, Jimmy Choo and Michael Kors. Shares of Capri surged 58% in premarket trading to just under the per-share deal price, while shares of Tapestry roughly 4%. It's started to run a similar playbook with Kate Spade. Tapestry has also looked other parts of the world to drive growth, such as chasing higher sales in China.

Persons: Kate Spade, Stuart Weitzman, Capri's Versace, Jimmy Choo, Michael Kors, Kirsten Dunst, It's, We've, Joanne Crevoiserat, John Idol, Morgan Stanley Organizations: Capri Holdings, Capri, Disney, Bank of America Locations: American, China

☆ Tapestry and Capri are combining in an $8.5 billion deal
▼ + stars: | 2023-08-10 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

Tapestry Inc., which owns Kate Spade and Coach, announced Thursday that it’s acquiring Capri Holdings, the parent company of Michael Kors and Versace. The $8.5 billion deal could help them better compete against their higher-end European rivals. Under terms of the deal, Capri shareholders will get $57 per share. Coach changed its parent name to Tapestry in 2017 and Michael Kors switched to Capri after it bought Versace in 2018. Those warning signs have “put pressure on Tapestry and Capri, both of which are now looking to international markets to bolster growth,” Saunders said.

Persons: New York CNN — Michael Kors, Kate Spade, Michael Kors, Versace, Stuart Weitzman, Jimmy Choo, Neil Saunders, ”, Jean, Jacques Guiony, ” Saunders Organizations: New, New York CNN, Tapestry Inc, Capri Holdings, ”, Capri Locations: New York, United States

☆ Coach owner Tapestry acquires rival Capri Holdings for $8.5 billion adding Michael Kors and Versace to its offering to create a US fashion giant
▼ + stars: | 2023-08-10 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +2 min

Coach owner Tapestry is buying Capri Holdings, the parent company of Michael Kors, for $8.5 billion. The new deal gives Tapestry greater influence in the luxury market and could bolster growth internationally. Capri is the parent company of well-known fashion brands Michael Kors, Versace, and Jimmy Choo. And it could give Tapestry greater influence in the luxury market to take on European powerhouses LVMH and Kering, which own a string of luxury brands including Louis Vuitton, Tiffany's, and Gucci. By acquiring Capri, Tapestry will add three well-known luxury brands to its roster.

Persons: Tapestry, Michael Kors, Kate Spade, Versace, Jimmy Choo, Louis Vuitton, Gucci, Neil Saunders, it's Organizations: Capri Holdings, Service, GlobalData Locations: Wall, Silicon, Tiffany's

☆ What’s the Best State to Retire In? (Hint: It’s Not Florida.)
▼ + stars: | 2023-08-10 | by ( Michael Kolomatsky | ) www.nytimes.com time to read: +1 min

If you’re approaching retirement, there are important real estate decisions to make. A new study from Bankrate scored all 50 U.S. states in five separate categories to determine which were the best (and worst) to retire in. Topping the list for best retirement state was Iowa, which finished third in affordability and 11th in health care. West Virginia, the most affordable U.S. state, ranked third, followed by Missouri (fifth most affordable) and Mississippi (second most affordable, seventh best for weather). In case you’re wondering, the retirement mecca of Florida finished eighth overall, with third-place scores in both the well-being and weather categories.

Persons: that’s, Bankrate Locations: Iowa, Delaware, West Virginia, Missouri, Mississippi, Florida

☆ Stocks making the biggest moves midday: AppLovin, Roblox, Tapestry, Alibaba and more
▼ + stars: | 2023-08-10 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

AppLovin said it anticipates revenue to range between $780 million and $800 million, ahead of the $741 million expected by analysts, per Refinitiv. Alibaba — U.S.-traded shares rose 4.3% Thursday after the Chinese company beat analysts' expectations and posted its biggest year-over-year revenue growth since 2021. In the June quarter, the company posted revenue of 234.16 billion yuan versus 224.92 billion yuan expected, per Refinitiv. Earlier this week, Fleetcor posted adjusted earnings of $4.19 per share on revenue of $948.2 million. Analysts polled by FactSet called for earnings of $4.17 per share on revenue of $945 million.

Persons: Kate Spade, AppLovin, Alibaba, Versace, Jimmy Choo, Michael Kors, Wynn, Refinitiv, Jefferies, Truist, Nick McKay, Fleetcor, FactSet, — CNBC's Brian Evans, Hakyung Kim, Samantha Subin, Jesse Pound, Yun Li, Alex Harring Organizations: Disney —, Disney, Capri Holdings, Capri, Wynn, —, Penn Entertainment, Disney's ESPN, Wedbush Locations: Marina, Sands, Singapore, Alibaba —, Wednesday's

☆ Coach is the new 'cool girl' brand for Gen Z
▼ + stars: | 2023-08-10 | by ( Grace Mayer | ) www.businessinsider.com time to read: +3 min

After years of sluggish sales, Coach is seeing regained interest from Gen Z consumers. Gen Z increased its spending on Coach by 10% so far this year, according to a new report. According to a consumer spending report from Earnest Analytics, consumers under the age of 25 increased their spending on the Coach brand by 10% from January through June of this year. Once self-touted as "accessible luxury," Coach has since updated that message and its offerings to reinvent itself. In doing so, it hoped to tap into Gen Z and Millennial shoppers' values and re-elevate its luxury status.

Persons: Gen, Lil Nas, Earnest, Camila Mendes, Joon Silverstein, Coach's, Silverstein, Z, Todd Kahn, Nas X, Kate Spade, Stuart Weitzman, Michael Kors, Jimmy Choo, Versace Organizations: Service, Vogue Business, Business, Fashion, Capri Holdings, Capri Locations: Wall, Silicon, Riverdale, American, York

☆ Coach owner creates US luxury giant with $8.5 bln deal for Michael Kors parent
▼ + stars: | 2023-08-10 | by ( Aishwarya Venugopal | ) www.reuters.com time to read: +2 min

Aug 10 (Reuters) - Coach parent Tapestry (TPR.N) will buy Michael Kors owner Capri Holdings (CPRI.N) in a deal valued at $8.5 billion, creating a top U.S. fashion house that can better compete with larger European rivals in the global luxury market. Tapestry will pay Capri shareholders $57 per share in cash, or $6.69 billion, representing a premium of nearly 65%. In the same year, Capri, formerly known as Michael Kors, acquired British shoemaker Jimmy Choo for $1.2 billion. LVMH, the world's largest luxury group, closed its $15.8 billion acquisition of Tiffany in early 2021. The Wall Street Journal first reported about a potential deal between Capri and Tapestry late on Wednesday.

Persons: Michael Kors, Tapestry's, Kate Spade, Stuart Weitzman, Jimmy Choo, Versace, Tiffany, Louis Vuitton, Neil Saunders, John Idol, Capri, Gucci, Valentino, LVMH, Chandni Shah, Aishwarya Venugopal, Sonia Cheema Organizations: Capri Holdings, Capri, Dior, Inc, Street Journal, Thomson Locations: U.S, Capri, Bengaluru

☆ Gilder Center Flies, Wriggles and Surprises
▼ + stars: | 2023-08-10 | by ( Laurel Graeber | ) www.nytimes.com time to read: +1 min

The American Museum of Natural History has always been known for creatures — just not more than a million live ones. That may change, however, as a result of its Richard Gilder Center for Science, Education and Innovation. Since this new wing opened in May, almost 1.5 million people have visited the museum, and most are thought to have explored the four floors of the Gilder Center that are open to the public. But even repeat visitors like me are still discovering its many attractions, including crawling and flying animals, mostly of the small but mighty variety. But the center, which was designed by the architect Jeanne Gang and her firm, Studio Gang, has more than wiggly wildlife.

Persons: Richard Gilder, Jeanne Gang, Michael Kimmelman Organizations: American Museum of, Richard Gilder Center for Science, Innovation, Gilder Center, Studio, The New York Times Locations: Manhattan

☆ Ukrainian soldier who lost his leg says he wouldn't volunteer again, voicing a rare but spreading pessimism
▼ + stars: | 2023-08-10 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +3 min

A Ukrainian described losing his leg to a land mine while speaking with The Washington Post. He was one of several to express a relatively rare note of despondency in the war against Russia. Ruslan Proektor, 52, told the outlet in a report published Thursday that he lost his leg this summer after stepping on a Russian mine. "They are taking everyone and sending them to the front line without proper preparation," he told the Post. Other people who spoke with The Washington Post also deviated from the prevailing Ukrainian sentiment of unity and defiance, citing the disappointing counteroffensive as a cause of their fading hopes.

Persons: Ruslan Proektor, Proektor, Michael Kofman Organizations: Washington Post, Russia, Service, NATO, Guardian, New York Times, Times Locations: Wall, Silicon, Ukrainian, Kyiv, Ukraine

☆ Coach Owner Near Deal to Take Over Parent of Michael Kors, Versace
▼ + stars: | 2023-08-09 | by ( Lauren Thomas | Cara Lombardo | ) www.wsj.com time to read: 1 min

Persons: Dow Jones, michael, 91912d7

☆ MLB roundup: Astros use ninth-inning slam to edge O's
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +11 min

Philadelphia starter Zack Wheeler (9-5) tossed six innings and gave up seven hits and three runs. Losing pitcher Sonny Gray (5-5) gave up three runs (two earned) and seven hits in six innings while notching 10 strikeouts. Rays right-hander Zach Eflin allowed just one run on four hits in seven innings. Yusei Kikuchi sustained his first loss since July 1 despite permitting only one run on three hits while striking out six in seven innings. Taillon (7-6) tossed seven innings of three-hit ball and retired the final 16 batters he faced.

Persons: Kyle Tucker, Tommy Gilligan, Kyle Tucker's, Jeremy Pena's, Felix Bautista, Adley Rutschman, Ryan Mountcastle, Rutschman, Mountcastle, Framber Valdez, Ryne Stanek, Ryan Pressley, Kevin Pillar, Orlando Arcia, Ronald Acuna Jr, Arcia, Mitch Keller, David Bednar, Brandon Drury, Lucas Giolito, Scott Alexander, Wilmer Flores, Kyle Schwarber, Jake Cave, Alec Bohm, Zack Wheeler, Lane Thomas, Keibert Ruiz, Trevor Williams, Eduardo Rodriguez, Rodriguez, Jose Cisnero, Jason Foley, Zack Short, Kerry Carpenter, Jake Rogers, Sonny Gray, Jorge Soler, Soler, Lucas Sims, Braxton Garrett, Stuart Fairchild, Luis Arraez's, Yandy Diaz, Brandon Lowe, Randy Arozarena, Louis, Isaac Paredes, Nolan Arenado, Zach Eflin, Miles Mikolas, Tanner Bibee, Ramon Laureano, Emmanuel Clase, Whit Merrifield, Yusei Kikuchi, Drew Waters, MJ Melendez, Michael Massey, Brady Singer, Trevor Story, Mike Tauchman, Jameson Taillon, Cody Bellinger, Pete Alonso, Justin Verlander, Joey Meneses, Ildemaro Vargas, Jordan Weems, Kyle Finnegan, Bryce Harper, Craig Kimbrel, Meneses, Nolan Jones, Elias Diaz, Matt Koch, Andruw Monasterio, William Contreras, Wade Miley, Andrew Chafin, Harrison Bader, Kyle Higashioka, Aaron Judge, Clarke Schmidt, Michael King, Yoan Moncada, Andrew Vaughn, Touki Toussaint, Corey Seager, Max Scherzer, JJ Bleday's, JP, Logan Gilbert, Dylan Moore, Gilbert, Xander Bogaerts, Scott Barlow, Freddie Freeman, Julio Urias, Christian Walker, Evan Phillips, Corbin Carroll Organizations: Houston Astros, Baltimore Orioles, Camden Yards, Astros, Baltimore All, Orioles, Braves, Pirates, Pittsburgh, Giants, San, Angels, Chicago White Sox, The Giants, San Francisco, Phillies, Philadelphia, Washington, Nationals, Tigers, Detroit, Marlins, Reds, Miami, Cincinnati, Cardinals, Tampa, St, Tampa Bay, Rays, Blue Jays, Toronto, Royals, Red Sox, Kansas City, Boston, Cubs, Mets, National League, Rockies, Brewers, Colorado, Milwaukee, Yankees, White Sox, Chicago, New York, Rangers, Athletics, Oakland, Texas, New York Mets, JP Sears, Mariners, Padres, Seattle, San Diego, Dodgers, Diamondbacks, Arizona, Thomson Locations: Baltimore , Maryland, USA, Atlanta, Los Angeles, San Francisco, Anaheim , Calif, Washington, Philadelphia, St . Petersburg, Fla, Cleveland, Kansas, Chicago, New York, Schmidt, Texas, Toronto, Phoenix, Arizona

☆ Ukrainian troops are getting just weeks of training on military equipment that takes months to master
▼ + stars: | 2023-08-09 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Troops in Ukraine are receiving just weeks to learn to use advanced military equipment. Bradley fighting vehicles and armored personnel carriers, for example, take US troops months to master. CNN's Jim Sciutto reported that Ukrainian troops are not receiving adequate training to use the donated munitions and equipment fast enough to push back Russian forces. Instead of conducting head-on attacks on Russian positions using complicated Western maneuvers, Ukrainian troops encountering heavily defended Russian positions are trying to wear the enemy down with artillery and missile barrages. Due to the slow progress of its counteroffensive as they face Russian positions protected by minefields, helicopter gunships, and artillery fire, Ukrainian troops are abandoning US tactics to seize back territory from Russia, Insider previously reported.

Persons: Bradley, it's, Jim Sciutto, I've, Sciutto, Michael Kofman Organizations: CNN, Troops, Service, Bradley, German, Russian Studies, CNA Locations: Ukraine, Wall, Silicon, Russia

☆ Goldman Sachs is having an identity crisis
▼ + stars: | 2023-08-09 | by ( Linette Lopez | ) www.businessinsider.com time to read: +11 min

I never thought I'd write this but … I miss the old Goldman Sachs. That was the voice of Goldman Sachs 2009 — the adamantine firm that managed to make its way through the crisis relatively unscathed. This sort of dry humor worked back then, but for today's Goldman Sachs, the joke just doesn't hit the same way. Van Praag — who was once dubbed "Goldman Sachs' Rococo PR prince" by The Observer — left the firm in 2012. It would be nice to see the old Goldman Sachs ferocity is still out there somewhere, even if it's not on Wall Street.

Persons: I'd, …, Goldman Sachs, Lucas van Praag, Goldman, van Praag, John F, David Solomon —, Solomon, boardrooms, today's Goldman Sachs, Lucas van Praag's Goldman, —, FactSet, JP Morgan, chuffs, DJ Sol, Van Praag —, Observer —, Jake Siewert, Lloyd Blankfein —, David Solomon's, Michael Kovac, Marcus —, DJ'ing, Goldman's, Lloyd Blankfein, Insider's Dakin Campbell, Kim Kardashian, Morgan Stanley, It's, Trump, Gary Cohn, mathlete who's, it's, Linette Lopez Organizations: Sunday Times of, Bloomberg, Refinitiv, Wealth Management, Observer, Treasury, Blankfein, Bank of America, Ivy League Locations: Wall, Sunday Times of London, New York City, Bahamas, Silicon

☆ What really is plus-size fashion? Experts weigh in on the term’s meaning
▼ + stars: | 2023-08-08 | by ( Kristen Rogers | ) edition.cnn.com time to read: +11 min

But what’s really considered a plus-size body or garment? Mike Coppola/Getty ImagesThough there are no universal criteria for plus-size clothing, the general perception of what constitutes plus-size has changed over time. Sixty-seven percent of US women are considered plus-size, Downing Peters said. The dearth of plus-size clothing adds to a stigma that makes people with bigger bodies feel marginalized, she added. Other stores have meanwhile stopped separating standard and plus-size clothing into different departments, which may help eliminate stigma, Keist said.

Persons: Ashley Graham, Paloma Elsesser, Precious Lee, Tess Holliday, what’s, ”, Lauren Downing Peters, Mike Coppola, “, Marilyn Monroe, ’ ”, Carmen Keist, —, Downing Peters, Monroe wouldn’t, ” Downing Peters, it’s, Emma McClendon, Keist, Jeff Greenberg, ” Keist, ” “, Tim Wimborne, Mina White, White, Jacopo Raule, we’ve, lionizing, ’, Fang, Lane Bryant, Christian Siriano, Michael Kors, I‘d Organizations: CNN, Columbia College Chicago, New York, Bradley University in, Bettmann, Getty, St, John’s University, El, Fashion Group, Reuters, Vogue, Brands, Universal, Dia, Co Locations: Bradley University in Illinois, Korea, United States, United Kingdom, British, New York, El Corte, Spain, Sydney, Florence, inclusivity, Meijer

☆ Germany spends big to win $11 billion TSMC chip plant
▼ + stars: | 2023-08-08 | by ( ) edition.cnn.com time to read: +4 min

Taiwanese chipmaker TSMC on Tuesday committed 3.5 billion euros ($3.8 billion) to a factory in Germany, its first in Europe, taking advantage of huge state support for the $11 billion plant as the continent seeks to bring supply chains closer to home. TSMC said it would invest up to 3.499 billion euros into a subsidiary, European Semiconductor Manufacturing Company (ESMC), of which it will own 70%. The factory will cost around 10 billion euros in total. “There is going to be a real ecosystem for semiconductor manufacturing in Germany,” he said. TSMC said in a statement after a board meeting that approved the German investment that it had also approved a capital injection of not more than $4.5 billion for the Arizona plant as part of the overall $40 billion investment.

Persons: TSMC, Olaf Scholz, Michael Kretschmer, ” Kretschmer, Germany’s, NXP, Robert Habeck, ”, “ It’s Organizations: European Union, Intel, Taiwan Semiconductor Manufacturing, Germany, Semiconductor Manufacturing Company, Germany’s Bosch, Infineon, Semiconductor, EU, Sony Locations: Germany, Europe, Taiwan, China, Asia, United States, Dresden, Saxony, ” Saxony, Netherlands, Ukraine, Arizona, Japan

☆ This bank just hiked the rate on its 1-year CD to 5.5%
▼ + stars: | 2023-08-07 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +2 min

"We expect more rate action in the weeks ahead," wrote Michael Kaye, analyst at Wells Fargo in a Friday report on deposit trends. Marcus and Synchrony each hiked yields by 5 basis points to 4.4% and 4.35%, respectively. However, customers who've already snapped up a CD are effectively locked into that rate for that stated term. That's different from a high-yield savings account, wherein the bank can change the rate at any time. "Even though the market doesn't expect any more rate hikes this cycle, we expect deposit costs to keep rising until the Fed cuts rates," she said.

Persons: Sallie Mae, Marcus, Goldman Sachs, Michael Kaye, Synchrony, Morgan Stanley, Betsy Graseck, — CNBC's Michael Bloom Organizations: Federal Reserve, Synchrony, Analysts, Wells, Fed

☆ MLB roundup: White Sox overcome brawl, dispatch Guardians
▼ + stars: | 2023-08-06 | by ( ) www.reuters.com time to read: +11 min

Chicago starter Michael Kopech (5-10) limited the Guardians to two runs and three hits in 5 1/3 innings. Texas starter Jon Gray (7-5) earned the win, allowing five runs (three earned) on six hits in 5 1/3 innings. Tyler O'Neill hit a homer for the Cardinals, who won for just the third time in their last nine games. Ryan McMahon hit his 100th career home run for the Rockies, who lost for the third time in four games. Cardinals starting pitcher Steven Matz (3-7) held the Rockies to one run on five hits and two walks in six innings.

Persons: Steven Kwan, Luis Robert Jr, Ken Blaze, Andrew Vaughn, Oscar Colas, Elvis Andrus, Jose Ramirez, Tim Anderson, Anderson, Ramirez, Emmanuel Clase, Mike Sarbaugh, Michael Kopech, Noah Syndergaard, Will Brennan, Blake Perkins, Victor Caratini, Angel Perdomo, Brian Anderson, Mark Canha, Yelich's groundout, William Contreras, Perkins, Sal Frelick's, Jason Delay, Jake Bauers, Justin Verlander, Anthony Volpe, Gleyber Torres, Kendall Graveman, Torres, Nestor Cortes, Jose Altuve's, Jake Rogers, Aaron Civale's, Akil Baddoo, Tarik Skubal, Beau Brieske, Dansby Swanson, Jeimer Candelario, Ian Happ, Cody Bellinger, Candelario, Michael Fulmer, Matt Olson, Ozzie Albies, Bryce Elder, Robbie Grossman, Grossman, Jon Gray, Jake Burger, Will Smith, Rafael Devers, Jose Berrios, Manny Machado, Diego, Juan Soto, Sanchez, Seong Kim, Enrique Hernandez, Machado, Jake Cronenworth, Grisham, Alex Vesia, George Kirby, Julio Rodriguez, Kirby, Randal Grichuk, Shohei Ohtani, Joan Adon, Lane Thomas, Keibert Ruiz, TJ Friedl, Trea Turner, Philadelphia's, Matt Strahm, Angel Zerpa, Craig Kimbrel, Gunnar Henderson, Anthony Santander, Kyle Gibson, Gibson, Danny Coulombe, Yennier Cano, Brandon Nimmo, Francisco Lindor, Jeff McNeil, Seth Brown, Jordan Diaz, Joc Pederson, Angel Felipe, Trevor May, Ryan Walker, Scott Alexander, Ryan Jeffers, Max Kepler, Michael A, Taylor, Kenta Maeda, Lourdes Gurriel Jr, Ryne Nelson, Willson Contreras, Tommy Edman, Louis, Tyler O'Neill, Ryan McMahon, Steven Matz, Ty Blach Organizations: Cleveland Guardians, Chicago White Sox, Progressive, Cleveland, Guardians, Los Angeles Dodgers, White Sox, Brewers, Pirates, Milwaukee, Pittsburgh, Yankees, Astros, New York, Houston, Tigers, Rays, Detroit, Tampa Bay, Detroit ., Cubs, Braves, Chicago, Atlanta, Rangers, Marlins, Miami, The Rangers, Blue Jays, Red Sox, Toronto, Boston, Padres, Dodgers, The Dodgers, Mariners, Angels, Seattle, Nationals, Reds, Cincinnati, Phillies, Royals, Kansas City, National League, Orioles, Mets, Baltimore, New, Athletics, Giants, Oakland, Bay Area, The Giants, Diamondbacks, Minnesota, American League Central, Cardinals, Rockies, Colorado, Thomson Locations: Cleveland , Ohio, USA, Cleveland, Chicago, Milwaukee, Seattle, Texas, Arlington , Texas, Miami, Toronto, Los Angeles, Anaheim , Calif, Washington, New York, San Francisco, Minnesota, Arizona, Minneapolis

☆ White Sox's win over Guardians marred by brawl, ejections
▼ + stars: | 2023-08-06 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/37] Aug 5, 2023; Cleveland, Ohio, USA; Cleveland Guardians starting pitcher Noah Syndergaard (34) throws a pitch during the first inning against the Chicago White Sox at Progressive Field. Mandatory Credit: Ken Blaze-USA TODAY SportsAugust 6 - Luis Robert Jr., Andrew Vaughn, Oscar Colas and Elvis Andrus homered for the visiting Chicago White Sox before their 7-4 win against the Cleveland Guardians was marred by a bench-clearing brawl in the sixth inning on Saturday evening. Jose Ramirez slid head-first into second base between the legs of Chicago shortstop Tim Anderson after delivering an RBI double. Chicago starter Michael Kopech (5-10) helped the White Sox end a five-game losing streak by limiting the Guardians to two runs and three hits in 5 1/3 innings. The White Sox tacked on two runs in the eighth on a single by Zach Remillard to make it 7-2.

Persons: Noah Syndergaard, Ken Blaze, Luis Robert Jr, Andrew Vaughn, Oscar Colas, Elvis Andrus, Jose Ramirez, Tim Anderson, Anderson, Ramirez, Emmanuel Clase, Mike Sarbaugh, Michael Kopech, Will Brennan, Robert, Vaughn, Colas, Andrus, Cleveland didn't, Andres Gimenez, Bryan Shaw, Kopech, Kole Calhoun, Jose Tena, Calhoun, Zach Remillard, Brennan Organizations: Cleveland Guardians, Chicago White Sox, Progressive, Cleveland, White Sox, Los Angeles Dodgers, Guardians, Thomson Locations: Cleveland , Ohio, USA, Cleveland, Chicago

☆ Goldman Sachs' future hinges on a low-profile, high-growth business
▼ + stars: | 2023-08-05 | by ( Hugh Son | ) www.cnbc.com time to read: +4 min

Goldman gets paid through management and incentive fees, which swell as funds attract more assets. Altogether, Goldman has $2.71 trillion in assets under supervision as of June 30, which includes wealth management assets. What about wealth management? The bank has more than $1 trillion in wealth management client assets. While Solomon cautioned that Goldman's "asset management journey" would take two to three years before meaningfully helping margins, he sounded optimistic.

Persons: David Solomon, Goldman Sachs, The Beverly Hilton, Michael Kovac, Goldman, Morgan Stanley, it's, That's, Solomon, he's, He's, Salisbury, Sarsfield Organizations: Milken Institute Global, The Beverly, The Beverly Hilton Hotel, Getty, JPMorgan Locations: Beverly Hills , California, U.S

☆ Stock-market investors rarely see a recession coming despite warning signals. As all the classic alarm bells ring again, this time is no different, experts say — setting investors up to get crushed.
▼ + stars: | 2023-08-05 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

The S&P 500 has rallied 17% year-to-date, but the Treasury yield curve and LEI point to a downturn. For Rosenberg, the difference is that we currently have an inverted yield curve, a recession signal that has preceded every downturn since the 1960s. An inverted yield curve means that rates on short-duration Treasurys rise higher than rates on long-duration Treasurys. The yield curve inverts often during Fed hiking cycles because short-term Treasury rates track closely along with the fed funds rate. The below chart shows the share of consecutive trading days where the yield curve has been inverted.

Persons: Piper Sandler's Michael Kantrowitz, David Rosenberg, Rosenberg, —, Here's Lacy Hunt, here's Rosenberg, Piper Sandler, Piper Sandler Kantrowitz, Kantrowitz Organizations: Rosenberg Research, Federal, Hoisington Investment Management Company, of Labor Statistics

☆ Ukrainian troops are abandoning US tactics in their counteroffensive because they haven't worked
▼ + stars: | 2023-08-03 | by ( Tom Porter | ) www.businessinsider.com time to read: +2 min

Troops are abandoning US tactics because they've proved ineffective, The NYT reported. But the counteroffensive is making slow progress, with troops encountering heavily defended Russian positions, protected by minefields, helicopter gunships, and artillery fire. Analysts told the Times that Western allies of Ukraine had pushed for the Ukrainian military to adopt more aggressive offensive tactics. Western allies believe that a protracted conflict would further deplete Ukrainian ammunition supplies and play into Russian hands, the report said. Analysts believe Russia wants a protracted conflict that will enable it to wear down Ukrainian resistance and international support for Ukraine.

Persons: Michael Kofman Organizations: Russia, Troops, Service, The New York Times, Times, Carnegie Endowment, International Peace Locations: Ukraine, Russia, Wall, Silicon

☆ Rent Increases Are Softening, but Not Everywhere
▼ + stars: | 2023-08-03 | by ( Michael Kolomatsky | ) www.nytimes.com time to read: +1 min

The tight home-buying market is forcing many people to stay in their rentals, but the good news is that their rent may not be rising quite as fast as it has in recent years. The July rent report by the rental platform Zumper found that rate increases are slowing in many of the 100 largest U.S. cities (counter to what is typically expected during a peak moving season), though not decreasing. Since last July, rents are down in 38 of the 100 cities, steady in seven, and up in 55. The biggest drop was found in Lincoln, Neb., where the median one-bedroom costs $830 a month — 18.6 percent lower than a year ago. Also an example of short-term volatility, Lincoln saw rents rise more than 6 percent from June to July, the steepest monthly increase in the report.

Persons: Lincoln Locations: Lincoln, Neb

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