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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

[1/4] Spanish Labour Minister Yolanda Diaz reacts during a campaign rally for her new left-wing umbrella party Sumar in the southern district of Orcasitas, Madrid, Spain, June 24, 2023. POPE'S BLESSINGOnce a Communist, Diaz now shies away from labelling herself as such or appealing solely to left-wing voters, although she rarely misses an opportunity to criticise capitalism. "We need better wages, especially in a country where the causes of inflation are tremendous corporate margins," she said. Two days later, Diaz registered Sumar, which first surfaced as a loose movement to unite the left in 2022, as a potential kingmaker bloc to run in the election. Reporting by Belén Carreño and Elena Rodríguez in Madrid; editing by Andrei Khalip and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

Persons: Yolanda Diaz, Isabel Infantes, Pedro Sanchez, Diaz, Sanchez, Vox, Sanchez's, Shostakovich, Billie Eilish, Pope Francis, Pope, Podemos, Belén Carreño, Elena Rodríguez, Andrei Khalip, Mark Heinrich Our Organizations: Spanish Labour, REUTERS, Socialists, Reuters, Socialist, People's Party, Spanish Socialist Workers ' Party, PSOE, Communist, Spanish Catholic Church, Thomson Locations: Orcasitas, Madrid, Spain, MADRID, Sanchez's, Ukraine

NEW YORK, June 26 (Reuters) - Goldman Sachs Group Inc (GS.N) plans to add former Bank of America executive Tom Montag to its board, a person familiar with the matter said on Monday, as Goldman's leadership faces challenges over its strategy. The bank's board is gathering in India this week, a second source said. Montag, who has previously worked at Goldman Sachs, is currently CEO of Rubicon Carbon, a carbon-market venture backed by asset manager TPG. The planned appointment was first reported by Bloomberg News, which said that Montag is an ally of CEO David Solomon. Montag, described by his peers as a hard-charging executive, was formerly a partner at Goldman Sachs and jointly led its securities division until late 2007.

Persons: Tom Montag, Montag, Goldman Sachs, David Solomon, Goldman, Merrill Lynch, Solomon, Saeed Azhar, Manya, Arun Koyyur, Emelia Organizations: YORK, Goldman Sachs Group Inc, of America, Rubicon, TPG, Bloomberg News, Bank of America, Manya Saini, Thomson Locations: India, New York, Bengaluru

☆ Byju's staff say morale waning amid turmoil at Indian edtech firm
▼ + stars: | 2023-06-25 | by ( ) www.cnbc.com time to read: +1 min

A boy walks past an hoarding of Byju's IAS coaching center in New Delhi, India on June 24, 2023. Fresh troubles at Indian edtech startup Byju's this week have escalated concerns among employees who were already uncertain about their future after several rounds of job-cuts, more than a dozen current and former staff told Reuters. Everyone wants to leave desperately before they are asked to pack up overnight," said a senior manager at Byju's, requesting anonymity. Several employees, all of whom requested anonymity, said they had received no memos about the exits of auditor Deloitte and the board members. A Byju's spokesperson did not respond to Reuters queries on staff morale, the lack of communication from management or other issues raised by employees.

Persons: Byju's Organizations: Reuters, Deloitte Locations: New Delhi, India, Bengaluru

☆ Jim Cramer: Here's my outlook on stocks for the rest of 2023 — and how I'm playing it
▼ + stars: | 2023-06-25 | by ( Jim Cramer | ) www.cnbc.com time to read: +13 min

A 6% solution to no inflation from the stock market. But not enough, again, because of the wave of money that's now flowing through the sand of the economy. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: —, Jensen Huang, Jensen, ChatGPT, Leonardo Da Vinci, Tesla, Elon, let's, Jerome Powell, Powell, Joseph Stalin, dismissively, FANG, That's, Wall, LEN, Salesforces, Cook, Zuckerberg, Huang, Jim Cramer's, Jim Cramer, Jim, Jim Cramer Rob Kim Organizations: Apple, Microsoft, Nvidia, Treasury, Federal Reserve, Tesla, Fed, Boeing, Devices, Adobe, Toll, Royal, Holdings, Musk, Jim Cramer's Charitable, CNBC Locations: Ukraine, Royal Caribbean

☆ Founders and VCs are clamoring to get into this $68 million AI hacker house. Here's how the AGI House exploded into a community hub for the red-hot Bay Area AI scene.
▼ + stars: | 2023-06-21 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +8 min

In February, the AGI House launched as a community hub for the buzzy Bay Area AI scene. Since launching in February this year, it's served as a hacker house and community hub for the Bay's exploding AI scene. Depending on the day, the residence houses between eight to ten AI founders and researchers, including a researcher from AI giant OpenAI. Stephanie PalazzoloFrom flying cars to fireside conversationsThe AGI House wasn't always the AGI House. "It's great to live in a community house where you're naturally connected to the AI founder community," she said.

Persons: Steve Jobs, Elon, it's, Demi Guo, Stephanie Palazzolo, wasn't, Andrej Karpathy, Rocky Yu, Karpathy, Sergey Brin, Kelly Peng, Yu, Jeremy Nixon, Tim Shi, Lerer Hippeau, Peng, Guo, There's, Greylock's, Corinne Riley AGI, they're Organizations: AGI, Technologies, Genesis, Foundation Capital Locations: buzzy, Hillsborough, Stanford, Alamo, LA, AGI, New York City, Stanford's

☆ As U.S. and Chinese Officials Meet, Businesses Temper Their Hopes
▼ + stars: | 2023-06-17 | by ( Ana Swanson | David Mccabe | ) www.nytimes.com time to read: +1 min

Foreign direct investment in China has fallen to an 18-year low. “The hope is that high-level dialogues like this can start to inject some certainty for business into an increasingly fraught and unpredictable trade relationship,” he said. Still, as one of the world’s largest consumer markets and home to many factories that supply global businesses, China exerts a powerful pull. On a visit to China this month, Elon Musk, the chief executive of Tesla and owner of Twitter, described the American and Chinese economies as “conjoined twins” and said he opposed to efforts to split them. Apple’s chief executive, Tim Cook, traveled to China in March and lauded the company’s “symbiotic” relationship with the nation.

Persons: ”, Jake Colvin, Mary Barra, Jamie Dimon, JPMorgan Chase, Stephen Schwarzman, Elon Musk, Tesla, Tim Cook Organizations: American Chamber of Commerce, National Foreign Trade Council, General Motors, JPMorgan, Twitter Locations: China, Blackstone

☆ Bitcoin gets a sliver of optimism to cap an otherwise dismal week for crypto
▼ + stars: | 2023-06-17 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Coin Metrics measures a week in crypto, which trades 24 hours a day, from the 4:00 p.m. A moment of relief Bitcoin climbed about 4% Friday, but the rest of the week wasn't as sunny. Price action was tepid to start the week and on Wednesday bitcoin briefly fell to a March low. … It's a doubting Thomas market for the next buyer of bitcoin right now. Miner profitability Bitcoin's recent declines may not be entirely on macro and regulatory headwinds, said Yuya Hasegawa, crypto market analyst at Japanese bitcoin exchange Bitbank.

Persons: Bitcoin, Price, Gustavo Schwenkler, it's, bitcoin, Mark Connors, we've, Thomas, Jay Powell, Connors, Yuya Hasegawa, Hasegawa Organizations: BlackRock, SEC, Leavey School of Business, Santa Clara University, Federal, Coinbase

☆ In Philly, union members say they don't care about Biden's age: 'I never heard someone who is Catholic say the pope is too old'
▼ + stars: | 2023-06-17 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +8 min

Union members told Insider they are not too concerned about Biden's age or electability. "I never heard someone who is Catholic say the pope is too old," one union member said. Biden's path to reelection depends in part on touting those achievements and turning out union members in November 2024. "There are a lot of politicians in this country who can't say the word 'union,'" Biden said Saturday afternoon, supporters in colorful union merchandise cheering behind him. At Saturday's rally, however, union members insisted it is not a concern — and that the discourse around it is an indictment of the times.

Persons: Joe Biden, —, Jaysin Saxton, Saxton, we've, Biden, Pennsylvania, Donald Trump, John Fetterman, Mary Samaroo, Samaroo, Trump, Nora Dumenigo, Dumenigo, Renee Dozier, Mike Brown, he's, Brown Organizations: Saturday . Union, Service, Starbucks, National Labor Relations, AFL, University of Pennsylvania, Pennsylvania's Democratic Party, Senate, of Health, Human Services, Service Employees International Union, SEIU, Republican, Miami International Airport, International Brotherhood of Electrical Workers Locations: Philadelphia, Augusta , Georgia, Pennsylvania, Scranton, Queens, Afghanistan, Cuba, Boston

☆ AT&T to shut flagship store in downtown San Francisco
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +1 min

June 16 (Reuters) - U.S. wireless carrier AT&T (T.N) said on Friday it would close its flagship store in downtown San Francisco, deepening the real estate pain in the once-booming tech hub that has been particularly hard hit by the pandemic. Stores in San Francisco have been closing their doors as they try to cut down on real estate space in the face of declining customer visits, occupancy and sales. Earlier this week, Unibail-Rodamco-Westfield (URW.PA) said it would transfer its Westfield San Francisco shopping mall to lenders. Nordstrom (JWN.N) said last month it was going to give up its downtown store in the mall. Real estate investment trust Park Hotels & Resorts (PK.N) had also said last week it ceased making payments toward a $725 million mortgage linked to its Hilton San Francisco Union Square and Parc 55 hotels.

Persons: Powell, Samrhitha, Krishna Chandra Organizations: AT, Westfield San, Nordstrom, Resorts, Hilton San Francisco, Square, Thomson Locations: San Francisco, Westfield, Westfield San Francisco, Bengaluru

☆ Microsoft's market value hits an all-time high of $2.6 trillion as the AI-fueled stock surge continues
▼ + stars: | 2023-06-16 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +2 min

Microsoft's market capitalization climbed to an unprecedented $2.59 trillion Thursday as its stock extended gains. The tech giant's shares have rallied more than 45% so far this year, buoyed by the investor frenzy over AI-related stocks. Microsoft has been viewed as one of the lead adopters of AI technology among software companies. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. Microsoft's stock has extended its year-to-date rally to over 45%.

Persons: — Organizations: Microsoft, Service, JPMorgan, Reuters, Tech, Federal Reserve, Nvidia, Nasdaq Locations: Friday's

China’s readout of the call was noticeably more pointed, underscoring the deep distrust that lingers between Beijing and Washington. Qin told Blinken the US should “show respect” on China’s core concerns such as the Taiwan issue. Blinken originally planned to visit China in February as the two countries attempted to stabilize ties following an in-person meeting between their leaders in Indonesia last November. But the high-stakes trip was postponed over a suspected Chinese spy balloon that flew over the continental US and was later shot down. In a veiled criticism, Qin appeared to blame the US for the heightened tensions in recent months in his call with Blinken, according to the Chinese readout.

Persons: Antony Blinken, Qin Gang, Blinken, Matthew Miller, Washington . Qin, Qin, “, Joe Biden’s, ”, Xi Jinping Organizations: Hong Kong CNN, Qin, US State Department, China’s Foreign Ministry, Foreign Ministry, CNN, China’s Communist Party Locations: Hong Kong, Beijing, China, Washington, Taiwan, Indonesia, South, South China

☆ India's outsourcing giants cut hiring; disheartening for economy, students
▼ + stars: | 2023-06-12 | by ( Navamya Ganesh Acharya | ) www.reuters.com time to read: +7 min

There are pockets of optimism elsewhere in the services sector - especially in accounting, where there is a surge in hiring. NLB sees a 20-25% drop in IT employee additions in the first half of the current financial year, while TeamLease Digital expects a 40% decrease for the entire year. Nasscom declined comment on the hiring slowdown. That has "surely left applicants concerned about future prospects", said staffing firm Xpheno's co-founder Kamal Karanth, who highlighted how current hiring activity was "under a third of what was recorded in the buoyant peak". Pai highlighted sectors such as financial services, consumer goods, specialised manufacturing, medicine, law, chartered accounting and other services as more viable options.

Persons: Rohit Azad, Azad, Rishad Premji, Sakshi Gupta, Sachin Alug, NLB, Nilanjan Roy, Nasscom, Gautam, Xpheno's, Kamal Karanth, LTIMindtree, Karanth, Siana, Siddharth Pai, Pai, Dhanya Skariachan, Raju Gopalakrishnan Organizations: New, Jawaharlal Nehru University, Wipro, HDFC, Apple, Citigroup, American Express, Europe's Credit Suisse, UBS, NLB Services, TeamLease, IT, Tata Consultancy Services, Infosys, Reuters Graphics, Sethuraman, Thomson Locations: BENGALURU, India, Punjab

☆ LA Tech Week, the summer sequel, is more polished but some of the sizzle is gone
▼ + stars: | 2023-06-10 | by ( Ben Bergman | ) www.businessinsider.com time to read: +4 min

Unlike most tech conferences where tickets cost thousands, Tech Week is mostly free and open to anyone. If last year's hastily arranged LA Tech Week served as venture firm Andreessen Horowitz's LA coming out party, this year's version – taking place just 10 months later – served as the more polished but lower energy summer sequel. Unlike most tech conferences where tickets cost thousands of dollars, Tech Week, which concludes Sunday, is mostly free and open for anyone to attend or even host their own event. The LA Tech Week kickoff party in Pacific Palisades hosted by Crosscut and 75 & Sunny. Mostly gone unsaid was the dismal state of the tech market, which has worsened considerably since last year's Tech Week; Down rounds and layoffs do not make for great cocktail conversation.

Persons: Andreessen, –, Drew Glover, Glover, Ben Bergman, we'll, Gabe Greenbaum, unsaid, Jeremy Milken, Sophia Amoruso, Nasty, Amoruso Organizations: Tech, LA Tech, Santa, Fiat Ventures, Crosscut, B, Watertower Ventures, Trust Fund, Trust Locations: Santa Monica, marveling, St, LA, Hollywood, Venice, Pacific Palisades, Venice Mexican

☆ Rahane helps India hang tough against Australia onslaught
▼ + stars: | 2023-06-09 | by ( Pritha Sarkar | ) www.reuters.com time to read: +3 min

Australia will be eager to tighten their grip on the match as they lead India by 196 runs, with Usman Khawaja batting on 13 along with Marnus Labuschagne on eight. While Thakur lived dangerously, Rahane went about rescuing India's hopes with his mix of delectable shot selection in the 109-run partnership for the seventh wicket. While he fell 11 runs short of scoring a century in the second over after lunch, the 35-year-old crossed 5000 test runs during his 129-ball knock which included 11 fours and a six. Following Rahane's departure, Thakur steered India past the follow-on target before bringing up his 50 with a sumptuous four. Blinking rapidly, he hurriedly grabbed his bat to make his way to the crease and made sure Australia reached tea without losing any further wickets.

Persons: Pat Cummins, Usman Khawaja, Marnus Labuschagne, Ajinkya Rahane, Shardul Thakur, Scott Boland, Srikar, Bharat, Thakur, Cummins, Cameron Green, Rahane, India's, Alex Carey, Rohit Sharma's, Umesh Yadav, Mohammed Shami, Labuschagne, David Warner, napping, Warner, Pritha Sarkar, Ken Ferris, Toby Davis Organizations: India, Australia, DRS, Cummins, ICC, WTC, Thomson Locations: India, Australia, London

"I made the decision that I'm going to go to Miami," Messi said in an interview with Mundo Deportivo and Sport newspapers. Inter Miami are co-owned by former England captain David Beckham, who was one of the first major European stars to move to the United States to play in the MLS, winning the MLS Cup twice with Los Angeles Galaxy. PSG EXITOnce the crown jewel of European football, Messi has effectively been let go by two super clubs in two years -- for free. His move away from PSG, however, is of his own volition as he felt the French club lacked a project for the future while fan unrest only hastened his exit. The highs after winning Argentina's first World Cup in 36 years were quickly offset by the lows he experienced in Paris.

Persons: Lionel Messi, Paris St Germain, Messi, I'm, Cristiano Ronaldo, Al Nassr, Karim Benzema, David Beckham, Phil Neville, Rory Carroll, Rohith Nair, Amy Tennery, Janina Nuño Rios, Angelica Medina, Ed Osmond, Toby Davis Organizations: Wednesday, Major League Soccer, Inter Miami, Paris St, PSG, Spanish, Mundo Deportivo, Sport, Ligue, French, U.S, Reuters, Adidas, Apple, MLS, Al, Los Angeles Galaxy, Eastern, Barcelona, Qatar Sports Investments, League, Thomson Locations: ANGELES, snubbing, Saudi Arabia, Barcelona, Miami, Europe, South Florida, Argentine, Spanish, Argentina, Qatar, Barca, Saudi Arabian, Al, Hilal, Al Ittihad, United States, Paris, Los Angeles, Bengaluru, New York, Mexico City

☆ Saudi Arabia's Public Investment Fund just reshaped professional golf with the PGA Tour-LIV merger. That's just the start
▼ + stars: | 2023-06-07 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

The Saudi Public Investment Fund is a government-controlled fund that has $650 billion in assets under management, according to its most recent filing. A state-owned investment fund like the PIF is not unique. Critics of LIV Golf accused the Saudis of backing the new tour as a form of “sportswashing” its reputation. For example it’s not clear exactly how much it invested to start up LIV Golf. CNN has not been able to confirm that report, but what is known is that LIV Golf tournaments have been held on Trump Organization properties.

Persons: petro, LIV Golf, LIV, Yasir Al, Rumayyan, Cristiano Ronaldo, Karim Benzema, ”, Elon Musk, Jared Kushner, Donald Trump’s, Kushner, Mohammed bin Salman, Bin Salman, Jamal Khashoggi, – CNN’s Coy Wire, Jack Bantock, Steve Almasy Organizations: New, New York CNN, Saudi, Saudi Public Investment Fund, Sovereign Wealth Fund, PGA, Soccer, Saudi Aramco, Newcastle United, Saudi Pro League, CNBC, Electronic Arts, EA, Activision Blizzard, Ticketmaster, Carnival Corp, Twitter, Washington Post, CNN, Trump Organization, US State Department, Congress Locations: New York, Europe, Saudi, English, Al, Saudi Arabia, al Qaeda

☆ No place like home for Panthers after Vegas take 2-0 series lead
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +2 min

[1/4] Jun 5, 2023; Las Vegas, Nevada, USA; Florida Panthers center Anton Lundell (15) celebrates goal in the third period against the Vegas Golden Knights in game two of the 2023 Stanley Cup Final at T-Mobile Arena. Mandatory Credit: Stephen R. Sylvanie-USA TODAY SportsJune 6 (Reuters) - A humbled Florida Panthers squad will count on their home fans to help turn around a dismal start to their Stanley Cup Final campaign, after the Golden Knights took a 2-0 series lead in Las Vegas on Monday. Vegas were considered the overwhelming favourites heading into the best-of-seven championship series and thus far Goliath has been firmly in control of David, with the Golden Knights clinching the first two games 5-2 on Saturday and 7-2 on Monday. The Panthers play the Golden Knights at FLA Live Arena in Game 3 of the Stanley Cup Finals in Sunrise, Florida. Reporting by Amy Tennery in New York Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

Persons: Anton Lundell, Stephen R, Goliath, David, we've, Matthew Tkachuk, Nicolas Roy, William Carrier, Zach Whitecloud, Paul Maurice, Amy Tennery, Toby Davis Organizations: Florida Panthers, Vegas Golden Knights, Mobile, Stanley, Golden Knights, Vegas, Panthers, FLA, Thomson Locations: Las Vegas , Nevada, USA, Las Vegas, Florida, Sin City, Sunrise , Florida, New York

☆ Activist investor Elliott is back at NRG Energy. Here’s how the firm plans to build value
▼ + stars: | 2023-06-03 | by ( Kenneth Squire | ) www.cnbc.com time to read: +8 min

Activist Commentary: Elliott is a very successful and astute activist investor, particularly in the technology sector. In January 2017, the firm filed a 13D on NRG with a plan centered around operational improvements and portfolio actions. As part of its plan, Elliott suggested that NRG focus on its core businesses by reducing costs, monetizing non-core assets to simplify its portfolio and paying down debt. To effectively oversee this plan, Elliott believes that the board needs new independent directors with expertise in the power and energy industry. "Strong management will be key to the success of the Repower NRG Plan," and "significant changes are needed."

Persons: Elliott, Vivint, Jim Collins, Collins, Ken Squire Organizations: NRG, 13D Locations: COOs, Texas

☆ We just got 2 alarming signals that an economic slowdown is upon us
▼ + stars: | 2023-06-02 | by ( Joe Ciolli | ) www.businessinsider.com time to read: +4 min

Dollar General cut its profit estimate for 2023 on Thursday. The first of two jarring pieces of evidence comes in the form of first-quarter earnings from Dollar General. The fact that they're not immune to a broader pullback in consumer spending is a big red flag for the US economy. Speaking of which, a bit further up the affluence scale, Macy's turned in an earnings stinker of its own. The department-store giant offered disappointing second-quarter projections and — like Dollar General — slashed full-year projections.

Persons: It's, Macy's, —, Jeffery Owen, Kelly Dilts, it's, Jeff Gennette, Paul Tudor Jones, Larry Summers —, Target Organizations: Service, Dollar, Federal Reserve, Walmart, Target Locations: Wall, American

☆ Dollar General drops, posts second worst week ever
▼ + stars: | 2023-06-02 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDollar General drops, posts second worst week everThe 'Fast Money' traders discuss Dollar General as the Chart of the Week after a dismal trading week.

☆ Buy Buy Baby draws sale interest in Bed Bath & Beyond bankruptcy, one bidder looks to save stores
▼ + stars: | 2023-06-02 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +7 min

A Buy Buy Baby store in the Brooklyn borough of New York, US, on Monday, Feb. 6, 2023. That's where Buy Buy Baby – and its long-held name recognition – would come in. "We have tremendous trust with new and expecting parents but Buy Buy Baby is much better known with kind of that older generation," she said. The crown jewel of Bed Bath & BeyondThis is not the first time Buy Buy Baby has seen sale interest. Buy Buy Baby has remained a bright spot in Bed Bath & Beyond's otherwise dismal earnings reports in recent years.

Persons: Stephanie Keith, Natalie Gordon, It's, Gordon, Babylist, it's, –, Ryan Cohen, Chewy, Cohen Organizations: Bloomberg, Getty, Bed, CNBC, Capital Advisors, GameStop, & $ Locations: Brooklyn, New York, Bed Bath, Beverly Hills , California, Bath

☆ Dollar General stock plunges as 'challenging' economic backdrop drives dismal earnings report
▼ + stars: | 2023-06-01 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

Dollar General's core customers are reining in their spending amid a worse-than-expected macroeconomic backdrop, leading the discounter to slash its full-year outlook after a dismal earnings report Thursday. Shares of Dollar General plunged nearly 20% in morning trading after the retailer missed estimates on the top and bottom lines. It now expects net sales to rise between 3.5% and 5%, compared with a previous range of 5.5% to 6% growth. It anticipates same-store sales will increase about 1% to 2%, compared with a previous range of 3% to 3.5%. Analysts had been expecting earnings per share to be up 4.3%, according to Street Account.

Persons: Jeff Owen Organizations: Refinitiv, Research

☆ Edtech startup VC funding has slowed to a crawl. The number of deals done so far this year has dropped more than 50% year-over-year.
▼ + stars: | 2023-06-01 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +3 min

The number of new funding deals so far this year is less than last year's Q1 total. The trend is in line with the larger VC funding slowdown in 2023, with the exception of AI deals. That's more than a 50% drop in the number of deals and total deal value from Q1 2022, which had 161 edtech venture deals totaling about $1.3 billion. Reach Capital recently raised a $215 million fund to fund both early and later stage edtech startups. Amid dismal funding for startups this year, the one bright spot has been for AI startups with some generative AI startups raising rounds well over $100 million.

Persons: That's, Katelyn Donnelly, Andressen Horowitz, Kira, Avalanche's Donnelly, there's, Donnelly, Sosnik Organizations: edtech, Reach Locations: edtech

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