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Month: July 2024

Morgan Stanley says this stock could consolidate China’s electric vehicle sector

Morgan Stanley says this stock could consolidate China’s electric vehicle sector

Shares of Chinese electric car makers started the new year on a downtrend, facing stiff competition and ongoing price wars that are eroding automakers’ profitability amid weak overall market sentiment. Hong Kong-listed shares of Nio and Xpeng have fallen more than 18% and 16%, respectively, while Li Auto has fallen 12% so far this year. BYD and Zhejiang Leapmotor have fallen nearly 2.5% and 12%, respectively, in 2024. Bernstein analysts noted in a recent report on China's electric vehicle industry: "We expect competition within the domestic market to remain intense, putting pressure on pricing and profitability." Morgan Stanley also highlighted…
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Salesforce Investors Reject Executive Compensation Plan

Salesforce Investors Reject Executive Compensation Plan

Marc Benioff, CEO of Salesforce, spoke at the World Economic Forum in Davos, Switzerland, on January 18, 2024. At Salesforce's annual meeting, shareholders rejected the proposed compensation plan for top executives, including CEO Marc Benioff. The decision followed concerns from advisory groups about stock awards granted to Benioff. Of the votes cast, 339.3 million were in favor, while 404.8 million were against, according to regulatory documents filed Monday. Despite the board's recommendation to approve the compensation plan, shareholder advisory firms Glass Lewis and Institutional Shareholder Services advised against adopting it. For fiscal 2024, Benioff’s total compensation increased to $39.6 million…
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Starbucks’ Strategy to Improve Customer and Barista Experience

Starbucks’ Strategy to Improve Customer and Barista Experience

Starbucks locations across the country are rolling out new measures to streamline drink ordering and reduce wait times. The revamp comes as the coffee chain anticipates a surge in mobile app orders. At the heart of this initiative is Starbucks’ “siren craft system,” a set of procedures designed to make baristas’ jobs easier and speed up service. More than 10 percent of Starbucks’ 10,000 locations have already adopted the system, which reorganizes the production sequence for hot and cold beverages. The company aims to roll it out across North America by the end of July. Starbucks executives believe these changes…
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Jonathan Tunick Unveils Grand Orchestration of Sondheim’s ‘A Little Night Music’

Jonathan Tunick Unveils Grand Orchestration of Sondheim’s ‘A Little Night Music’

At the climax of Stephen Sondheim's "A Little Night Music," the orchestra reaches what Sondheim called its Max Steiner moment, evoking the great scores of "Casablanca" or "Gone with the Wind." During a pivotal scene, Désirée and Fredrik, former lovers on the verge of losing their happiness, meet and kiss as the orchestra swells to a stirring reprise of "Send in the Clowns." Jonathan Tunick’s new orchestration premiered Thursday at David Geffen Hall with the 53-piece St. Luke’s Orchestra. Strings and winds soared, supported by rich, staggered chords and flourishing counterpoint, creating a moment fit for both film and opera.…
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Gaza Hospital Director Released After Seven Months in Israeli Detention

Gaza Hospital Director Released After Seven Months in Israeli Detention

On Monday, Israel released Mohammad Abu Salmiya, the head of Gaza’s largest hospital, after holding him for more than seven months without charge. The move sparked immediate protests in Israel, highlighting the polarized views on the ongoing conflict. Abu Salmiya, director of Al-Shifa Hospital in Gaza City, was arrested in late November during an attempt to evacuate patients while the hospital was under siege by the Israeli army. The military said he was being questioned about Hamas activities at the hospital. His release has amplified differing perspectives on the war. Human rights groups have criticized his continued detention without charge…
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Klay Thompson Leaves Golden State Warriors: A New Chapter Begins

Klay Thompson Leaves Golden State Warriors: A New Chapter Begins

For the Golden State Warriors, this marks the end of an era. Klay Thompson is set to sign a three-year, $50 million deal with the Dallas Mavericks, ending his 13-year tenure with the Warriors, 12 of which he spent alongside Steph Curry and Draymond Green. Together, they built a dynasty, reaching six NBA Finals and winning four championships in eight years. They formed one of the league’s longest-tenured trios, anchoring one of the greatest teams ever, which set an NBA record with 73 wins in the 2015-16 season. In a league known for constant change, the Warriors’ Big Three were…
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New York Times Editorial Board Urges Biden to Drop Out of Presidential Race

New York Times Editorial Board Urges Biden to Drop Out of Presidential Race

The New York Times editorial board on Friday called on President Joe Biden to withdraw from the presidential race against Donald Trump, citing his poor performance in the debate the night before. “The president appeared on Thursday night as a shadow of a once-great public servant,” the Times editorial said. “He struggled to articulate what he would accomplish in a second term. He struggled to respond to Trump’s provocations. He struggled to hold Trump accountable for his lies, his failures and his chilling plans. More than once, he struggled to finish a sentence.” “Biden has claimed that he is the…
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