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☆ China car price truce skids off road at first bend
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, July 10 (Reuters Breakingviews) - So much for an end to big discounts on new vehicles in China. On Saturday the China Association of Auto Manufacturers (CAAM) reversed out of the pledge it had brokered just two days earlier with Tesla (TSLA.O) and 15 domestic carmakers to curb a debilitating price war in which some models were being sold for 20% or more below their sticker price. But it quickly dawned on – or was made clear to – the CAAM that such wording might violate the spirit of China’s anti-monopoly law. It would have been a hard agreement to stick to anyway, with Volkswagen (VOWG_p.DE) and others refusing to sign it. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Tesla, Antony Currie, Robyn Mak, Thomas Shum Organizations: MELBOURNE, Reuters, China Association of Auto Manufacturers, Ministry of Industry, Information Technology, Volkswagen, Twitter, Thomson Locations: China

☆ The dream scenario for the economy is looking more likely by the day
▼ + stars: | 2023-07-09 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

The US jobs market is still on 🔥. Still, recent data from the Bureau of Labor Statistics shows a job market that's running hot. Average hourly earnings increased 0.4% month on month and are up 4.4% on last year. The dream scenario for the economy is to get inflation under control without a sharp spike in unemployment or a recession. So far, the job market has remained robust.

Persons: ake, anker, rina, ord, T witter Organizations: Service, uts Locations: Wall, Silicon, usk

☆ India can aim lower in its chip dreams
▼ + stars: | 2023-07-05 | by ( Pranav Kiran | ) www.reuters.com time to read: +3 min

BENGALURU, July 5 (Reuters Breakingviews) - India’s semiconductor dreams are facing a harsh reality. After struggling to woo cutting-edge chipmakers like Taiwan Semiconductor Manufacturing (2330.TW) to set up operations in the country, the government may now have to settle for producing less-advanced chips instead. Prime Minister Narendra Modi wants to “usher in a new era of electronics manufacturing” by turning India into a chipmaking powerhouse. Mining conglomerate Vedanta’s $19.5 billion joint venture with iPhone supplier Foxconn (2317.TW) has stalled; plans for a separate $3 billion manufacturing facility appear to be in limbo, Reuters reported in May. Aiming lower could be just what India’s chip ambitions need.

Persons: Narendra Modi, China's, It’s, Ashwini, Robyn Mak, Thomas Shum Organizations: Reuters, Taiwan Semiconductor Manufacturing, Micron Technology, Micron, Taiwan’s, Zion Market Research, Semiconductor Industry Association, Financial, Thomson Locations: BENGALURU, China, India, U.S, Gujarat, Zion, , New Delhi, Taiwan, Washington, Beijing

☆ Meituan's insider AI deal does not compute
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +2 min

Meituan describes Light Year as a leading AI innovator in China. Its backers include Meituan CEO Wang Xin and Sequoia Capital China's HongShan fund, which is controlled by a Meituan non-executive director. Meituan is paying out roughly $234 million in cash and covering some $50 million-worth of Light Year's convertible bonds. Interestingly, Meituan's total outlay is roughly equal to the target's net cash position. For investors, understanding this AI deal is no small challenge.

Persons: Wang Huiwen, Meituan, Wang Xin, Robyn Mak, ’, crouch, Eli Lilly, Antony Currie, Thomas Shum Organizations: Reuters, Meituan, Sequoia Capital, Twitter, Thomson Locations: HONG KONG, HK, China

☆ BioXcel cites issues at Alzheimer's drug trial site, shares plunge
▼ + stars: | 2023-06-29 | by ( Khushi Mandowara | ) www.reuters.com time to read: +2 min

June 29 (Reuters) - BioXcel Therapeutics (BTAI.O) flagged issues related to the recording of safety data at one of the sites for late-stage trial of its Alzheimer's drug, sending its shares plunging more than 67% in premarket trading on Thursday. The drug, named BXCL501, was being studied to treat patients with agitation related to Alzheimer's disease. The issue highlighted by the company overshadowed results of the drug's trial, which was also reported on Thursday. BioXcel said it plans to submit an application to expand the use of the drug in the second half of this year. The drug is already approved by the FDA for treating agitation associated with schizophrenia or bipolar I or II disorder in adults.

Persons: Vimal Mehta, Robyn Karnauskas, BioXcel, Khushi Mandowara, Krishna Chandra Eluri Organizations: BioXcel Therapeutics, U.S . Food, Drug Administration, Truist Securities, Thomson Locations: Bengaluru

HONG KONG, June 29 (Reuters Breakingviews) - There's plenty to like about Swire Pacific's (0019.HK) Coca-Cola sale. Little wonder Swire's Hong Kong shares rallied as much as 8% on Thursday morning. The Coke sale is refreshing for investors, but only until the rest of Swire Pacific regains its fizz. Upon completion of the sale, Swire Pacific will distribute HK$11.7 billion in special dividends to its shareholders. The company also plans to enter into a 13-year agreement to provide management services to Swire Coca-Cola USA and receive an annual fee of at least HK$117 million.

Persons: Swire Pacific's, Swire, John Swire, Antony Currie, Thomas Shum Organizations: Reuters, HK, Cathay Pacific, Swire, Cola, John Swire & Sons, Cola Europacific Partners, Citi, Cathay, Swire Pacific, Hong Kong, Cola USA, Hong, Thomson Locations: HONG KONG, Hong Kong, China, Cathay Pacific

☆ A $7 billion startup wanted to build patient-friendly healthcare. Its bet on buzzy weight-loss drugs is testing that vision.
▼ + stars: | 2023-06-29 | by ( Blake Dodge | Rebecca Torrence | ) www.businessinsider.com time to read: +12 min

Patient complaints go beyond the Wegovy shortageKaitlyn's complaints echo an array of issues faced by other Ro patients seeking weight-loss drugs. The patients Insider interviewed asked to be identified by their first names to protect their privacy. In this chat log, a Ro weight-loss patient sends messages to the startup asking to cancel the program. Reitano told Insider that around 90% of Ro patients got a response within 24 hours. "Until these DTC companies generally start getting into the muck of healthcare, they're not going to have a material impact," Parker told Insider.

Persons: Ro, Zachariah Reitano, Reitano, Li Ran, Robyn Phelps, Kaitlyn, She'd, didn't, she's, couldn't, Max Kerwick, drugstores, Max, Ro's, aren't, hasn't, Florian Gaertner, it's, TJ Parker, they're, Parker Organizations: New York, Getty, Better Business Bureau, Nordisk, Better Business, CareMetx, Ro, TechCrunch Locations: Xinhua, New York, New York City

HONG KONG, June 27 (Reuters Breakingviews) - A government-led buyout signals more uncertainty ahead for a chip industry grappling with oversupply and geopolitics. The state-backed Japan Investment Corp will take over JSR (4185.T), which makes light-sensitive chemicals vital to manufacturing semiconductors, among other things. In recent years, the conglomerate has pivoted from a low-margin business of selling synthetic rubber used to make tyres to focus on semiconductor materials - primarily photoresists - and biopharmaceuticals. Yet JIC's mandate to boost the country’s global competitiveness and its focus on consolidating industries helps to justify the hefty premium. Either way, the government's focus on elevating national chipmaking champions creates fresh uncertainty for JSR's foreign customers like South Korea's Samsung Electronics (005930.KS) and Taiwan Semiconductor Manufacturing (2330.TW).

Persons: Sharp, Eric Johnson, Una Galani, Thomas Shum Organizations: Reuters, Japan Investment Corp, Renesas Electronics, chipmakers, Samsung Electronics, Taiwan Semiconductor Manufacturing, Japan Investment Corporation, Mizuho Bank, Development Bank of Japan, Thomson Locations: HONG KONG, Tokyo, Taiwan, Japan, United States, South Korea, South

Pfizer CEO Albert Bourla has said an obesity pill could eventually be a $10-billion-a-year product for Pfizer. Truist Securities analyst Robyn Karnauskas said Lilly is now ahead in the race for a once-a-day obesity pill. Pfizer said last month that danuglipron helped patients lose weight on par with Novo Nordisk's (NOVOb.CO) Ozempic in a mid-stage study that tested it in patients with Type 2 diabetes. None of the patients in the lotiglipron trials reported liver-related symptoms or side effects, there was no evidence of liver failure and none required treatment, Pfizer said. Liver enzyme elevations observed in lotiglipron trials have not been seen in patients enrolled in danuglipron trials, the company added.

Persons: Albert Bourla, Eli Lilly, LLY.N, Robyn Karnauskas, Lilly, Pfizer, danuglipron, Manas Mishra, Leroy Leo, Michael Erman, Pooja Desai, Jason Neely, Deepa Babington Organizations: Pfizer Inc, Pfizer, NYSE Arca Pharmaceutical, Truist Securities, Novo Nordisk's, Thomson Locations: United States, Bengaluru, New Jersey

☆ ‘I Screamed and Ran, Called 911.’ Three Home Showings That Went South Real Fast.
▼ + stars: | 2023-06-23 | by ( Robyn A. Friedman | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/i-screamed-and-ran-called-911-three-home-showings-that-went-south-real-fast-a9c0d47c

Persons: Dow Jones

☆ India’s $1 bln education buyout is a studied bet
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, June 21 (Reuters Breakingviews) - The biggest merger in Indian corporate history has opened the door for private equity giant EQT (EQTAB.ST) to enter the country’s education finance market. The deal is touted as the largest ever PE buyout in the country’s financial sector and values Credila at roughly 101 billion rupees ($1.2 billion), or roughly 37 times earnings in the last financial year. The target specalises in education financing for those looking to universities in the United States, the UK and Canada for higher education. The buyers will also inject 20 billion rupees into Credila, which should help give the company, already a market major, an edge over rivals including state-controlled banks and the Warburg Pincus-backed Avanse Financial Services. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: HDFC, Credila, BPEA EQT, Warburg Pincus, Shritama Bose, Robyn Mak, Thomas Shum Organizations: Reuters, Chrys Capital, Bajaj Finance, Financial, Twitter, Virgin, Thomson Locations: MUMBAI, Swedish, United States, Canada, India, Credila, Cava

☆ ‘I Screamed and Ran, Called 911.’ Three Home Showings That Went South Real Fast
▼ + stars: | 2023-06-19 | by ( Robyn A. Friedman | ) www.wsj.com time to read: 1 min

Persons: Dow Jones

June 9 (Reuters) - The White House on Friday said electric-vehicle charging stations using Tesla (TSLA.O) standard plugs would be eligible for billions of dollars in federal subsidies as long as they included the U.S. charging standard connection, CCS, as well. The statement follows separate announcements by U.S. automakers Ford Motor (F.N) and General Motors (GM.N) that they were adopting the Tesla model of charging, known as the North American Charging Standard (NACS). Tesla shares rose 4.1%. Some of them said on Friday that they would work to adapt to the Tesla standard. [1/2] Tesla charging stations are pictured in a parking lot in Shanghai, China March 13, 2021.

Persons: Biden, Tesla, Robyn Patterson, Patterson, Tesla's, Oleg Logvinov, Aly, Logvinov, Sam Houston, Danni Hewson, AJ Bell, Blink, Jonathan Levy, We've, They've, Asaf Nagler, ChargePoint, Jarrett Renshaw, Abhirup Roy, Hyunjoo Jin, Chavi Mehta, Bhanvi, Sayantani Ghosh, David Gaffen, Peter Henderson, Matthew Lewis Organizations: U.S, Ford Motor, General Motors, American, CCS, Analysts, Ford, GM, EV, Reuters, Volkswagen, Hyundai Motor, Kia, IoTecha, REUTERS, CharIN, Union of Concerned, Tesla, ABB, America, Thomson Locations: United States, Shanghai, China, CharIN North America, Swiss, Philadelphia, San Francisco, Bengaluru

☆ White House welcomes Tesla to take advantage of federal dollars
▼ + stars: | 2023-06-09 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +5 min

June 9 (Reuters) - The White House on Friday said electric-vehicle charging stations using Tesla (TSLA.O) standard plugs would be eligible for billions of dollars in federal subsidies as long as they included the U.S. charging standard connection, CCS, as well. Tesla shares rose as much as 7.5% on Friday but pared gains to close 4.1% higher at $244.40. Analysts said the Ford and GM news was a big win that could make Tesla Superchargers an industry standard in the United States. GM and Ford shares closed up 1.1% and 1.3%, respectively. Musk on Friday said in a tweet it would be "ideal" for Tesla chargers to need only CCS adapters to meet federal charging standards.

Persons: Biden, Tesla, Robyn Patterson, Patterson, Tesla's, Sam Houston, Danni Hewson, AJ Bell, Blink, Jonathan Levy, ChargePoint, Musk, Jarrett Renshaw, Hyunjoo Jin, Abhirup Roy, Chavi Mehta, Bhanvi, Sayantani Ghosh, David Gaffen, Peter Henderson, Matthew Lewis Organizations: U.S, Ford Motor, General Motors, American, CCS, Ford, GM, EV, Reuters, Volkswagen, Hyundai Motor, Kia, Union of Concerned, Tesla, Elon, Thomson Locations: United States, Philadelphia, San Francisco, Bengaluru

☆ CNN needs more than a new CEO. It needs a business strategy
▼ + stars: | 2023-06-08 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

Chris Licht, Chairman and CEO, CNN Worldwide, speaks onstage during the Warner Bros. Warner Bros. But Licht's entire tenure at CNN could have turned out differently had he persuaded Zaslav to keep CNN+. Perrette told the CNN+ leadership to pause all marketing spending and not to launch on Roku. A Warner Bros.

Persons: Chris Licht, David Zaslav, Licht, Donald Trump, Zaslav, David Leavy, Jake Tapper's, Anderson Cooper, Andrew Morse, Alex MacCallum, Robyn Peterson, Neal Chugani, Perrette, financials Organizations: CNN Worldwide, Warner Bros, Madison, Garden, Discovery, CNN, Warner Bros . Discovery Locations: New York City

☆ Tornados! Fire! Ice Storms! These Real-Estate Agents Risk Life and Limb for the Sale
▼ + stars: | 2023-06-07 | by ( Robyn A. Friedman | ) www.wsj.com time to read: +3 min

Illustration: A Richard AllenWhat is the worst weather you have ever had to contend with while showing a home? I see wall clouds all the time, but for those not familiar with them, it’s a giant tower of clouds, and it’s very dark and ominous-looking, so it can be scary. My buyer, who claimed to have been some sort of weather watcher, started freaking out, saying things like, “That’s a wall cloud! I wouldn’t say this was the worst weather, but it was definitely the weirdest. The sky was red and black, and all we could see was a small circle of light in the sky.

Persons: Richard Allen, Justin Fox, Max, —, hysterically, Victoria Rong Kennedy Organizations: Cottage, Corcoran Group Locations: Cottage Grove, Minn, New York, N.Y, Manhattan

☆ Taylor Swift seems to reference Matty Healy throughout her new album. Here's a complete timeline of their relationship.
▼ + stars: | 2023-06-05 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +22 min

At the concert, Swift was photographed dancing with her friends on the balcony, getting especially cozy with Kloss. February 25, 2015: Swift and Healy hang out at the Universal Music Brits party in LondonNick Grimshaw, Taylor Swift, and Matt Healy at the Universal Music Brits party. "It's not really anything to talk about, because if she wasn't Taylor Swift we wouldn't be talking about her. AdvertisementHe continued: "If I had gone out with Taylor Swift I would've been, 'Fucking hell! Taylor Swift performs at the 2016 Grammys; Matty Healy performs at the 2016 Apple Music Festival.

Persons: —, Taylor Swift, Matty Healy, Swift's, Healy, Milwaukee Healy, Swift, Los Angeles Swift, Selena Gomez, Gomez, Ellie Goulding, — Taylor, Harry Styles, merch, Angus O'Loughlin, hasn't, Stone, I've, she's, Martha Hunt, Lily Aldridge, Karlie, Haim, Hunt, Aldridge, Instagram, concertgoers, it's, Taylor, Jared, Swift Healy, Australia's, London Nick Grimshaw, Matt Healy, David M, Bacardi Swift, Kloss, Goulding, Nick Grimshaw, Mick Jagger, Halsey, It's, wasn't Taylor Swift, Robyn Beck, Dave J Hogan, Elle, Lana Del Rey, Jack Antonoff, Jack, Ally, Phoebe Bridgers, Paul Mescal, Bo Burnham, Bridgers, Burnham Organizations: Service, Poets Department, Business, Swift, Eagles, Us, MTV, Universal Music Brits, Soho House, Bacardi, Q, NME, KROQ, Klein, Poets Society Locations: Milwaukee, Los Angeles, New York City, Australia, London, Soho

HONG KONG, June 5 (Reuters Breakingviews) - Shein is threading the world’s trickiest geopolitical needle. But rising American pressure is forcing it to tweak its business model right as it tries to list there. Last year, its top line surged 46% to $23 billion, per the Wall Street Journal, surpassing $22 billion at H&M and outpacing the 18% growth at Inditex. A Boston Consulting Group report notes that this model allows Shein to keep inventory turnover at just 40 days. That will be expensive; the company's net profit margin was a razor-thin 3.5% last year, according to the Wall Street Journal, far below bricks and mortar rival Inditex's 13%.

Persons: Shein, Bernstein, Chris Xu, Xu, Mubadala, Pete Sweeney, Katrina Hamlin Organizations: Reuters, U.S ., Rivals, Street, Financial Times, Boston Consulting, Morningstar, Securities and Exchange Commission, Wall Street, ’, Singapore, Sequoia Capital, General Atlantic, Thomson Locations: HONG KONG, Zara, China, Inditex, Guangdong, U.S, Xinjiang, Nanjing, Singapore, Mexico, Brazil, India

HONG KONG, May 31 (Reuters Breakingviews) - Elon Musk may be China’s most popular American. State media quoted Musk saying the United States and China share “inseparable” interests and that Tesla opposes decoupling. This all provides the $638 billion Tesla with good political cover in the world’s largest automobile market. But for now Beijing and Musk are getting what they want out of the arrangement, and that means it is likely to endure. Reuters GraphicsFollow @petesweeneypro and @KatrinaHamlin on TwitterCONTEXT NEWSTesla Chief Executive Elon Musk visited China on May 30 for the first time since 2020.

Persons: Elon, Qin Gang, Musk, Xi Jinping, Elon Musk, Apple's Tim Cook, JPMorgan's Jamie Dimon, Laxman Narasimhan, Robyn Mak, Thomas Shum Organizations: Reuters, Foreign, Chinese Communist Party, Tesla’s, Twitter, CCP, SpaceX, Starbucks, Thomson Locations: HONG KONG, Beijing, Shanghai, China, Japan, Republic, India, Turkey, People’s Republic, United States, Washington

☆ 10 Things in Tech: Mark Zuckerberg and Jeff Bezos are ripped, tech workers work less than 4 hours per day, and tech's Texas real-estate invasion
▼ + stars: | 2023-05-31 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

OpenAI, the company that created the chatbot, won't share the books it used to train ChatGPT. But a group of researchers discovered a method of quizzing the chatbot to figure out which books it has read. Many tech workers are only productive for four hours per day. In an anonymous poll, nearly 45% of tech workers said they spent four hours (or less) on "focused work." Only around 25% said they worked eight or more hours per day.

Persons: I'm, Siu, Hannah Towey, Robyn Phelps, Moby Dick, Harry Potter, Sherlock Holmes, Adam, Matthew Busch, Mark Zuckerberg, Jeff Bezos, Zuck, Bezos, Peek, Austin Evans, Evans, Mercedes, Diamond Naga Siu, Alistair Barr, Nathan Rennolds Organizations: American, Pacific Islander Heritage, Ikea, The Washington, Getty, NASA, US Air Force, Pacific Command, Pentagon Locations: Sweden, California, Swedish, EVs, . Texas, scrawny, San Diego, San Francisco, London

☆ Pru CFO exit adds urgent task to new CEO’s agenda
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, May 31 (Reuters Breakingviews) - Anil Wadhwani's honeymoon period as Prudential’s (PRU.L) boss has ended abruptly. Just as he prepares to mark 100 days in the role, his Chief Financial Officer James Turner has unexpectedly resigned after an investigation into “a recent recruitment situation”. Worse, Turner’s previous assignment was as Prudential’s chief risk and compliance offer, a position he held for more than four years. Following China’s reopening, mainland visitors purchasing insurance products in Hong Kong helped boost its quarterly annual premium equivalent, a measure of new sales, by 35% year-on-year in the three months to March. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Anil Wadhwani's, James Turner, Turner, Katrina Hamlin, Robyn Mak, Streisand Neto Organizations: Reuters, Prudential, Twitter, Toyota, Lufthansa, Thomson Locations: HONG KONG, Hong Kong, London, Saudi, East, Italy

☆ Video may show an octopus waking up from a nightmare, scientists believe
▼ + stars: | 2023-05-28 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +4 min

A video shows an octopus appearing to wake up from sleep in distress. The behaviour looked similar to waking up from a nightmare, scientists said. One of the study's co-authors noted that it would be difficult to study an octopus' brain activity and determine whether they actually dream. Robyn Crook, an associate professor of biology at San Francisco State University, told Live Science that the octopus' behavior could have been due to senescence, which is when an octopus' body starts to break down before death. "I don't exclude that senescence could be one of the drivers of this," Ramos told Live Science.

☆ China thesis lurches from one lazy extreme to next
▼ + stars: | 2023-05-25 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +4 min

HONG KONG, May 25 (Reuters Breakingviews) - Foreigners that once piled into offshore Chinese equities are evacuating as confidence in the country’s economic recovery sags. The China trade has always been unbalanced towards overseas-listed Chinese consumer and internet firms, and foreigners preferred building factories, acquiring large stakes in companies and the like over portfolio trading. Even at a peak in 2021, they held barely over 8 trillion yuan ($1.1 trillion) of yuan-denominated Chinese stocks and bonds, per official data, compared to $27 trillion of American equivalents. Now the former figure has fallen below 7 trillion yuan. Major Chinese indexes in Hong Kong and New York have also slid, with the Nasdaq Golden Dragon China Index having lost around 15% in the last three months.

Foxconn's turnaround efforts initially paid off: by 2018, Sharp was back in the black. Moreover, analysts estimate assembling iPhones and other Apple (AAPL.O) gadgets still brings in more than half of Foxconn’s annual sales. The troubled unit was once a joint venture between Sharp, Foxconn and an entity tied to Gou. The company attributed the slump to a non-operating loss of T$19.7 billion related to its 34% stake in Japanese electronics maker Sharp. Sharp reported a 220-billion-yen ($1.6 billion) impairment loss in the quarter, mostly from buildings, machinery and goodwill relating to display businesses.

☆ A mother, father, and daughter became the first family to graduate and walk the stage together at a private Texas university
▼ + stars: | 2023-05-24 | by ( Taylor Ardrey | ) www.businessinsider.com time to read: +2 min

"I just can't express how proud and impressed I am," the daughter said in a school press release. The family received their diplomas during the school's spring commencement ceremony on May 13, according to a school press release. Robyn, a master of accountancy major, and Greg, a business major, transferred from Northeast Lakeview College, the press release said. According to the press release, Robyn connected with her fellow classmates and worked as a "supplemental instructor for Principles of Accounting." To celebrate their accomplishments, the group plans to take a trip to Hawaii, the press release said.

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