Amidst the uncertain economic landscape, investors are reassessing their criteria for identifying lucrative large-cap investment opportunities.

Sarah Rich, vice president and lead portfolio manager at Goldman Sachs, shared her insights during VettaFi’s Equity Symposium on March 13, emphasizing the attractiveness of U.S. equities for several reasons.

Rich highlighted the U.S.’s significant share of global GDP, its leading labor productivity, and the consistent and diverse corporate earnings growth as key factors.

Rich pointed out that despite economic challenges like the global financial crisis, U.S. equities have demonstrated robust growth over time. However, when evaluating large-cap U.S. investments, Rich cautioned against relying solely on market-cap-weighted benchmarks.

These benchmarks can be backward-looking, potentially overvaluing certain stocks and undervaluing others, leading to underperformance and deviation from benchmarks.

Allen Bond, managing director and head of research at Jensen Investment Management, echoed Rich’s sentiments, emphasizing the risks faced by investors who avoid large-cap U.S. investments.

Bond emphasized the importance of focusing on high-quality businesses for successful investments, aiming to identify companies poised for sustainable business value creation.

Rich advocated for a smart beta approach in the U.S. large-cap space, leveraging over 40 years of research on factor performance to make strategic, data-driven investment decisions.

Dogecoin influencer Mishaboar has issued a crucial alert to members of the Dogecoin (DOGE) community, amid a surge in meme coin-related scams within the crypto space.

In a post on X (formerly Twitter), Mishaboar urged community members to exercise extreme caution, highlighting the proliferation of fake airdrops targeting Dogecoin and other popular meme coins.

Additionally, the influencer noted that scammers are also exploiting the tags of popular AI tokens to perpetrate these fraudulent schemes.

These scams typically promise airdrops to users, with the sole intention of stealing tokens from unsuspecting individuals. Given the widespread popularity of meme and AI tokens during this bull cycle, scammers leverage these tags to expand their reach and lure more victims into their schemes.

Mishaboar’s warning holds particular significance for newcomers to the crypto space, who may be more susceptible to falling victim to these scams in their pursuit of airdrops to enhance their positions during the bull run.

As part of the cautionary message, Mishaboar advised followers to report any suspicious accounts and emphasized that scammers often operate with large followings, creating a facade of legitimacy. However, users are urged not to be deceived by the apparent credibility of such accounts and to remain vigilant.

Known for prioritizing the safety of crypto users, Mishaboar previously advised the community to enable two-factor authentication (2FA) on their X accounts following the ‘MyDogeWallet’ Hack. This proactive approach to security underscores Mishaboar’s commitment to safeguarding crypto enthusiasts from potential threats.

In a similar vein, earlier this year, the Shiba Inu scam detector platform Susbarium alerted the SHIB community to scams aimed at obtaining personal information and stealing crypto assets.

Susbarium cautioned against fake accounts promoting fraudulent tokens and echoed the importance of enabling 2FA across crypto accounts and utilizing hardware wallets for secure storage.

Given the prevalence of scams involving impersonation of official accounts, vigilance and proactive security measures, such as 2FA and hardware wallets, remain essential safeguards for crypto users to protect their assets and identities in an increasingly fraught digital landscape.

In a note released on Wednesday, Bank of America expressed its view that even with a valuation of $2.2 trillion, Nvidia stock remains attractively priced.

The bank reiterated its “Buy” rating and raised its price target to $1,100 from $925, implying a potential upside of 24% from current levels.

Bank of America analyst Vivek Arya emphasized that despite the year-to-date outperformance, Nvidia’s valuation and ownership metrics remain appealing compared to peers in the semiconductor and information technology sectors.

Nvidia’s shares have surged by 80% year-to-date and have seen a remarkable 287% increase over the past year, driven by robust demand for its AI-enabling graphic cards.

Despite the remarkable growth of Nvidia’s core business, the stock is trading at valuations lower than those observed when ChatGPT was first launched in 2022.

Arya pointed out that Nvidia is currently trading at 37 times the next twelve months (NTM) price-to-earnings ratio (PE), compared to 44 times PE at the time of ChatGPT’s launch in November 2022. He also noted that the stock is comfortably within its historical forward price-to-earnings range of 26x to 69x.

While Nvidia remains a widely held stock among investors, their ownership levels are still below the stock’s weight in the S&P 500 index.

Arya highlighted that despite Nvidia being broadly owned by 67% of funds in their survey, its relative weighting in comparison to its concentration in the S&P 500 is lower than that of large-cap infotech peers. He noted that there is potential for further upside, given Nvidia’s nearly 9x faster growth potential.

Nvidia’s upcoming “AI Woodstock” event on March 18, during its GPU Technology Conference, could serve as a catalyst for additional upside in the stock. During this event, Nvidia is expected to unveil the successor to its highly popular H100 chip.

Arya anticipates that the event will demonstrate the growing impact of genAI, omniverse/digital twins across various end-markets, and the opportunity to re-architect a significant portion of global computing infrastructure with accelerators.

This could result in an annual market potential of $250-$500 billion over the next 3-5 years. Additionally, Arya expects updates across accelerators (B100, N100), Ethernet switches, Data Processing Units (DPU), and edge AI during the conference.

Chinese Premier Li Qiang has reportedly opted out of hosting a meeting with foreign CEOs scheduled to attend the upcoming China Development Forum (CDF) in late March, according to three sources briefed on the matter.

This decision has raised concerns about Beijing’s commitment to attracting foreign investment amidst growing pessimism.

The CDF, convened annually by Beijing since 2000 at the Diaoyutai State Guesthouse, serves as a platform for global CEOs and Chinese policymakers to convene and discuss foreign investment opportunities.

Notable attendees typically include figures such as Apple CEO Tim Cook and Ray Dalio, the founder of Bridgewater Associates.

This decision comes in the wake of a surprising announcement last week to cancel the premier’s news conference at the conclusion of the annual parliamentary session, which is traditionally one of China’s most closely watched economic and policy events.

Some analysts interpreted this move as indicative of China’s increasing internal focus and centralized governance.

A notable feature of the CDF has been the meeting between the Chinese premier and visiting CEOs, providing an avenue for dialogue and exchange of perspectives.

While Premier Li still plans to participate in the forum scheduled for March 24-25, he reportedly will not host this customary meeting, according to the sources.

The sources, who chose to remain anonymous due to restrictions on speaking to the media, emphasized that plans for the forum are still under review and subject to change.

Neither the organizers of the CDF nor the State Council Information Office, responsible for media inquiries for the Chinese cabinet, immediately responded to requests for comment.

Yue Su, Principal Economist for China at the Economist Intelligence Unit, expressed disappointment from a global CEO perspective, highlighting the importance of direct communication channels with China’s top leadership during times of uncertainty.

Toshihiro Ueda, Vice-Chair of the Japanese Chamber of Commerce in China, described the move as “clearly not a positive signal,” but indicated that the business association would adopt a cautious stance.

Comsat Architects, a prominent space communications firm based in Rocky River, Ohio, has unveiled a partnership with Ubotica Technologies, an autonomous AI-driven satellite technology company headquartered in Dublin.

The joint venture aims to integrate artificial intelligence (AI) technologies into communication systems and Earth observation capabilities on small satellites orbiting in low Earth orbits.

Offering a range of space communication analysis, advanced software, and aerospace technologies to both civil and commercial sectors, Comsat Architects serves clients such as NASA and various commercial enterprises.

The company specializes in providing space connectivity solutions for spacecraft in low Earth orbit (LEO), incorporating AI and machine learning (ML) technologies into various facets of data transmission.

One key focus area is the fusion of Earth observation with communications, enabling real-time Earth intelligence and delivering continuously updated insights into changing conditions on our planet. Traditional Earth observation methods face challenges as images are captured, transmitted to Earth, and then processed, often taking days.

Ubotica addresses this limitation by integrating onboard image processing and AI inference intelligence directly onto satellites, facilitating real-time insights. By merging this technology with communications systems, data can be swiftly transmitted to users on Earth within seconds, enabling prompt decision-making.

“This collaboration represents a significant milestone in leveraging the collective expertise of Comsat Architects and Ubotica to advance AI technologies in space systems,” remarked Dr. Kul Bhasin, CEO of Comsat Architects.

“We are thrilled to partner with Ubotica in exploring AI applications as we actively participate in the burgeoning commercial space economy.” Comsat Architects and Ubotica intend to delve into cloud detection technology using satellite image data, with potential applications including situational awareness, early detection capabilities, and Earth system monitoring.

“We are excited to collaborate with Comsat Architects,” stated Fintan Buckley, CEO of Ubotica. “AI has the transformative potential to revolutionize life on Earth, and our partnership extends this transformation to space, redefining how we observe and engage with our planet.”

Rumble (NASDAQ: RUM), the video-sharing platform and cloud services provider, is pleased to announce a strategic collaboration with Qinshift, a global leader in managed IT services and solutions with over 7,000 employees (inclusive of Avenga, a recently acquired Germany-based global technology platform).

Through this partnership, Rumble Cloud will amalgamate the collective expertise, resources, and industry insights of both entities, harnessing Qinshift’s highly skilled workforce, proficiency, and global presence to cater to the growing demand for Rumble Cloud services.

The objective of Rumble Cloud is to capitalize on the strengths of both organizations to offer premium cloud services and foster expansion by: a) facilitating enhanced customer onboarding through Qinshift’s adept workforce to scale up enterprise clientele, b) broadening market reach via Qinshift’s global network and proficiency, and c) diversifying service provisions by leveraging Qinshift’s extensive portfolio of managed IT services and solutions.

“We are delighted to embark on this collaboration with Qinshift,” stated Chris Pavlovski, Chairman and CEO of Rumble. “This partnership enables us to significantly amplify our operational scale and expedite our market penetration efforts, thereby delivering an expanded range of services and efficiently onboarding cloud customers.”

“This collaboration presents an exciting opportunity for Qinshift to integrate our DevOps and managed services with Rumble Cloud’s cutting-edge infrastructure,” commented Ludovic Gaudé, CEO of Qinshift.

“Together, we will harness our respective strengths to provide exceptional value-added solutions, services, and support to customers worldwide, prioritizing excellence and offering guidance throughout their cloud journey.”

According to a report from The New York Post, Instagram, owned by Meta, surpassed TikTok to become the most downloaded mobile application worldwide in 2023, as indicated by data from Sensor Tower Corporation.

Instagram witnessed a 20% increase in app downloads compared to the previous year, reaching 768 million installations, whereas TikTok experienced only a 4% change, amounting to 733 million downloads.

The shift in rankings underscores the mounting pressure TikTok faces from U.S. regulators concerning national security concerns. Some lawmakers have expressed apprehensions about TikTok posing a potential threat to U.S. security.

Abraham Yousef, Senior Insights Manager at Sensor Tower, attributes the app’s popularity to the incorporation of the Reels feature alongside traditional social media functions. Instagram introduced the Reels function in 2020, mirroring the style of TikTok, thus appealing to the Gen Z audience.

Instagram and TikTok engaged in a fierce rivalry throughout 2021 and 2022, culminating in Instagram surpassing TikTok as the leading social media platform in 2023.

As of September 2023, Instagram boasted 1.47 billion monthly active users, with an additional 13 million users joining in the last quarter of the year. Conversely, TikTok experienced a decline, losing 12 million users, and ending the year with 1.12 billion active users.

Despite having a smaller user base, TikTok’s users exhibit intensive engagement with the platform, spending a total of 95 minutes on it in the fourth quarter of 2023. This engagement surpasses not only Instagram but also other platforms like X and Snapchat.

On March 13, during an engagement with the public at the Berlin Gigafactory, a Tesla manufacturing facility, Elon Musk entertained a question from an audience member regarding the possibility of purchasing Tesla products using Dogecoin (DOGE) in the future.

Musk responded affirmatively to the inquiry, stating, “At some point, I think we should enable that.”

Musk’s positive response ignited excitement among investors, leading to a sudden surge in the market price of the token. Dogecoin experienced a notable increase from $0.172 to $0.188 at the time of reporting, representing a 9.3% uptick as the video gained traction on X.

Musk’s involvement with Dogecoin began after several employees from the Tesla Gigafactory urged him to endorse Dogecoin as an official mode of payment. A similar request was made to him at SpaceX by visitors advocating for Dogecoin support, which Musk eventually embraced.

Tesla initiated acceptance of Dogecoin payments for its merchandise starting on Jan. 14, 2022. At the outset, the company clarified its support solely for Dogecoin payments, stipulating that any other “non-Dogecoin digital assets sent to Tesla will not be returned to the purchaser.”

Recently, Musk’s “everything app” X (formerly Twitter) established an ‘XPayments’ account for its forthcoming payments feature, fueling speculation within the crypto community regarding the potential implementation of cryptocurrencies.

There is anticipation that the X app will introduce in-app payment services by mid-2024. However, it remains unconfirmed whether the feature will extend support beyond traditional fiat currencies or if Musk will fulfill his followers’ vision of integrating Dogecoin into mainstream usage.

Gerald M. Levin, the former CEO of Time Warner who orchestrated its infamous merger with AOL, passed away on Wednesday at the age of 84.

Levin’s grandson, Jake Maia Arlow, confirmed his death to the New York Times, revealing that Levin died in a Long Beach, Calif., hospital. While the cause of death was not disclosed, Levin had been battling Parkinson’s disease.

Appointed co-CEO of Time Warner alongside Steven J. Ross in 1992, Levin assumed sole leadership following Ross’s death from prostate cancer a few months later.

In collaboration with then-AOL CEO Steve Case, Levin announced the $350 billion merger between the two companies on Jan. 10, 2000, during the peak of the dot-com bubble. The merger, forming AOL Time Warner, faced significant challenges, including the dot-com recession, resulting in a historic $100 billion write-down. Levin resigned in 2002 amid the fallout.

Before the AOL Time Warner debacle, Levin began his career as an attorney before transitioning into a programming executive role in 1972 at a regional pay-TV channel known as Home Box Office (HBO).

Within a year, he ascended to the CEO position and, by 1975, successfully persuaded its parent company, Time Inc., to distribute HBO’s signal nationwide via satellite.

Reflecting on his pivotal decision, Levin remarked in James Andrew Miller’s 2021 book “Tinderbox: HBO’s Ruthless Pursuit of New Frontiers” (as cited by NYT), “Advocating for HBO to be on the satellite was one of the most important decisions of my entire career.

The only way you get ahead is if you see something that no one else sees, and it’s a little crazy. Satellite at that time was kind of a dreamy thing, but the idea of making HBO into a national network rather than relying on a lot of little cable networks was a pretty big idea.”

Blackwells Capital has asserted that Walt Disney Co. should have disclosed its relationship with ValueAct Capital Management, which managed a portion of its pension fund assets, sparking tensions between the two activist investment firms with distinct agendas at the entertainment conglomerate.

In a letter addressed to Disney shareholders, New York-based Blackwells alleged that the company’s board failed to adequately disclose that ValueAct or its affiliates had oversight of more than $350 million of Disney’s pension assets, as disclosed in a statement on Monday.

Blackwells approximated that ValueAct received fees ranging from approximately $55 million to $95 million for these services, citing Disney’s filings spanning fiscal years 2013 to 2022.

Aligned with another activist investor, Blackwells is advocating for board changes at Disney, despite ValueAct and its Chief Executive Officer Mason Morfit publicly endorsing Disney’s board earlier this year. Blackwells contended in its letter that shareholders should have been informed about the pension arrangement before ValueAct’s show of support.

“The board has consistently emphasized ValueAct’s endorsement in proxy materials distributed to millions of shareholders,” Blackwells stated. “Does the board believe that shareholders can assess the significance of ValueAct’s endorsement without a comprehensive understanding of the relationship?”

Representatives for both ValueAct and Blackwells declined to comment further, while a spokesperson for Disney did not immediately respond to requests for comment.

In January, ValueAct pledged to support Disney’s board nominees at the company’s forthcoming annual shareholder meeting scheduled for April 3. This commitment has positioned the investment firm as a significant ally for Disney in countering Blackwells’ efforts, along with a separate initiative by Nelson Peltz’s Trian Fund Management to secure board seats and advocate for strategic changes.

Boeing and Alaska Airlines have both refuted any legal culpability for the injuries allegedly sustained by numerous passengers following a door plug dislodging incident on a 737-Max 9 jet during a flight in January.

In their formal responses this week to a class-action lawsuit filed by numerous passengers of Alaska Airlines Flight 1282, Boeing acknowledged the initial findings of a National Transportation Safety Board investigation, which concluded that the door plug was improperly installed.

Boeing’s CEO, Dave Calhoun, publicly acknowledged the incident as “our mistake” in an interview with CNBC. However, Boeing denied liability for any damages claimed by the passengers, asserting that their lawsuit should be dismissed.

The company further argued that it cannot be held responsible for injuries resulting from improper maintenance or misuse by entities other than Boeing.

Similarly, Alaska Airlines disclaimed liability, contending that any injuries resulting from the door plug dislodging were due to the actions of entities beyond its control, including Boeing and non-party Spirit AeroSystems.

Additionally, Alaska Airlines denied that the activation of the plane’s cabin-pressure warning light three times within the previous month, including on the day before the incident, was indicative of the aircraft being unsafe to fly.

These legal responses, filed as part of the case in the U.S. District Court in Seattle, mark the companies’ initial formal rebuttals to the multiple lawsuits initiated following the January 5 incident.

Daniel Laurence, an attorney representing passengers involved in the class action, expressed surprise at Boeing and Alaska Airlines’ refusal to admit liability and resolve the case swiftly.

He remarked on their defensive stance, suggesting that the evidence strongly supports the assertion that the aircraft was dispatched with an insecure door plug, posing a severe risk to passengers’ safety.

The incident occurred shortly after the Boeing-manufactured jet, carrying 171 passengers and six flight crew members, departed from Portland International Airport en route to Ontario International Airport in San Bernardino County, California.

Upon reaching an altitude of approximately 16,000 feet, the door plug dislodged, creating a sizable hole in the fuselage and necessitating the plane’s return to Portland, where it landed safely.

After the incident, which has spotlighted Boeing’s troubled 737 Max airplanes, the Federal Aviation Administration temporarily grounded certain models of the plane. The NTSB investigation revealed a lack of installed bolts to secure the plug.

Concurrently, the FAA initiated an audit into Boeing and its supplier, Spirit AeroSystems, uncovering instances where the companies allegedly failed to adhere to manufacturing quality control standards.

Additionally, the Department of Justice commenced a separate criminal investigation into the door plug dislodging incident, as reported by a source familiar with the probe.

Elon Musk’s Starlink satellite internet service continues to assert its dominance in the market and geopolitics, notably evidenced by its pivotal role in bolstering communication resilience amid the Ukraine conflict.

However, industry executives and experts emphasize that the trajectory of satellite communications is veering towards hybrid networks, integrating services from both low-Earth orbit (LEO) satellites like SpaceX’s Starlink and those from higher altitude satellites in medium and geostationary orbits.

This transition is propelled by commercial exigencies and security imperatives, with both the U.S. government and commercial entities such as airlines and cruise ship companies increasingly seeking solutions that span multiple orbits.

A recent flurry of industry transactions — such as the Eutelsat-OneWeb merger, Viasat’s acquisition of Inmarsat, and agreements between Intelsat, SES, OneWeb, and Starlink — underscores the emergence of mixed-space networks encompassing diverse orbits.

According to Caleb Henry, an industry analyst and director of research at Quilty Space, hybrid networks, once viewed as peripheral, are now ascendant in the satellite communications sector.

These networks leverage the unique attributes of different orbits to deliver enhanced connectivity. LEO satellites, being closer to Earth, offer lower latency, while larger geostationary satellites offer broader coverage albeit with higher latency. Medium Earth orbit (MEO) satellites occupy an intermediate position.

“From a Department of Defense (DoD) standpoint, the primary advantage of a multi-orbit approach is resilience,” Henry pointed out. “Military users prioritize redundancy, and with multi-orbit networks, they gain the assurance of continuous service even in adverse scenarios such as jamming or outages.”

Moreover, market dynamics are propelling this shift towards hybrid networks, Henry noted.

The industry is undergoing profound changes as traditional satellite operators adapt to the disruption caused by new entrants like Starlink and brace for intensified competition from forthcoming LEO ventures such as Amazon’s Project Kuiper and Telesat Lightspeed.

As the industry gravitates towards multi-tiered networks, Henry underscores that collaboration and partnership models are becoming standard practice for operators to remain relevant and address the intricate demands of customers seeking uninterrupted connectivity, particularly in challenging environments.

A new Costco store is poised to open this week in Natomas, marking a significant boom for the local community.

Even before its official opening, a small queue has formed outside the new Costco, reflecting the anticipation and excitement surrounding the store’s debut.

However, Costco’s arrival is just one aspect of a broader narrative concerning Natomas and its transformation since the days when Arco Arena, the former home of the Sacramento Kings, defined the area.

On Wednesday, crowds had already gathered in anticipation of Thursday’s opening, eager to take advantage of the limited availability of high-quality items.

Among those eagerly awaiting the opening was Gerard Alcantara, a Fairfield native, who observed the evolving landscape of Natomas. “We noticed the new apartments out here,” he remarked. “Everything looks new, like they just built it.”

The proliferation of new residences, amenities, and now Costco exemplifies the changing dynamics north of Interstate 80.

“Previously known for Arco Arena, that was the focal point, but there were no residential properties around it,” noted Ryan Lundquist, a real estate expert in the Sacramento area.

Lundquist emphasized the significant evolution of the community, suggesting that recent arrivals might be unaware of the area’s past as a sports venue.

A building moratorium imposed in 2008 due to necessary levee improvements temporarily stalled development, but construction resumed in 2015.

Since the lifting of the moratorium, the median house price has surged, nearly doubling in value.

“When you consider the Natomas area, the homes were predominantly built around 2003, unlike the earlier stock dating back to around 1980,” Lundquist explained.

This suggests ample room for further development.

“The increasing availability of housing units online and the proliferation of apartment complexes nearby indicate ongoing growth,” remarked City Councilor Karina Talamantes during the new Costco’s unveiling on Thursday.

Talamantes, who represents the area, has witnessed firsthand the community’s expansion, noting the emergence of new schools, parks, homes, and rental apartments.

As Costco opens its doors to shoppers on Thursday, it symbolizes Natomas’ continuing evolution as a thriving residential area.

“My aim is to foster further infill development,” Talamantes declared. “I fully support the utilization of any residentially zoned land for housing projects.”

According to data from Redfin, Natomas boasts a competitive housing market, scoring between 80 and 84 out of 100. Coupled with ongoing projects in the vicinity, this suggests that growth in the area shows no signs of slowing down.

On Wednesday, the House passed a bill that, if enacted, would trigger a nationwide prohibition of the popular video application TikTok unless its China-based owner divests its stake. Lawmakers took action amidst concerns that the existing ownership structure of the company poses a national security risk.

The bill, approved by a vote of 352-65, will now proceed to the Senate, where its fate remains uncertain.

TikTok, boasting over 170 million American users, operates as a wholly-owned subsidiary of the Chinese technology corporation ByteDance Ltd.

Lawmakers argue that ByteDance’s allegiance to the Chinese government could potentially grant access to the data of TikTok’s American users at the government’s behest, citing Chinese national security regulations mandating cooperation with intelligence activities.

“We have given TikTok a clear choice,” stated Rep. Cathy McMorris Rodgers, R-Wash. “Either sever ties with your parent company ByteDance, which is under the influence of the CCP (the Chinese Communist Party), and continue operations in the United States, or align with the CCP and face the consequences. The decision lies with TikTok.”

While the House passage represents an initial step, the bill must also secure approval in the Senate to become law, with indications from lawmakers in that chamber suggesting it will undergo thorough scrutiny. Senate Majority Leader Chuck Schumer, D-N.Y., expressed the need to confer with relevant committee chairs to chart the bill’s trajectory.

President Joe Biden has signaled his intention to sign the measure should Congress approve it.

The House vote underscores escalating tensions between China and the U.S. By targeting TikTok, lawmakers confront what they perceive as a significant threat to America’s national security, while also singling out a platform favored by millions, particularly younger demographics, mere months ahead of an election.

In a video statement released on Wednesday evening, TikTok CEO Shou Zi Chew emphasized the company’s efforts to safeguard user data and maintain the platform’s integrity. Chew warned that the bill if enacted, would consolidate power among a handful of other social media companies.

“We will persist in advocating for you. We are committed to taking all necessary actions, including leveraging our legal rights, to defend this remarkable platform that we have developed with you,” Chew assured TikTok’s user base.

In anticipation of the vote, a spokesperson for the Chinese foreign ministry, Wang Wenbin, accused Washington of resorting to political maneuvers when U.S. businesses fail to compete, warning that such efforts would disrupt normal business operations and undermine investor confidence, ultimately rebounding on the U.S. itself.

The bill garnered support from 197 Republican lawmakers, with 15 opposing, while among Democrats, 155 voted in favor and 50 against.

Some Republican dissenters argued that while consumers should be alerted to data privacy and propaganda concerns, the ultimate decision should rest with them.

“The response to authoritarianism cannot be more authoritarianism,” remarked Rep. Tom McClintock, R-Calif. “Addressing CCP-style propaganda does not necessitate CCP-style suppression. Let us proceed cautiously before descending this very steep and treacherous slope.”

Dollar Tree, on Wednesday, fell short of market expectations for sales and profit in the holiday quarter and unveiled plans to close 970 of its Family Dollar stores, aiming to rejuvenate the struggling segment of its business.

Following this announcement, Dollar Tree’s shares declined by approximately 14%, coupled with a forecast for 2024 sales and profit that also failed to meet expectations, leading to a 2.8% drop in shares of rival Dollar General Corp.

The dollar store sector has faced challenges amidst competition for consumer spending from Chinese e-commerce giant Temu, operated by PDD Group, offering low-cost discretionary merchandise, including $4 home decor items, in the United States.

Other competitors vying for budget-conscious shoppers include Walmart, known for its consistently low prices, especially in groceries, and Target, which is expanding its range of products priced below $10, spanning home, personal care, and electronics.

CEO Rick Dreiling cited the primary obstacle as the difficulty in stocking stores promptly enough to meet consumer demand, noting that Family Dollar continues to grapple with macroeconomic uncertainties.

In November, Dollar Tree had announced a comprehensive review of its Family Dollar business, contemplating the closure of underperforming stores to reignite growth.

The company, which operates approximately 16,774 stores, disclosed plans to shutter around 600 Family Dollar stores in the first half of fiscal-year 2024 and an additional 370 over the following years, alongside 30 Dollar Tree outlets as their leases expire.

Meanwhile, Temu is intensifying its efforts in digital and television marketing to attract customers away from dollar stores and traditional brick-and-mortar retailers.

Consequently, Dollar Tree incurred charges of $594.4 million for a portfolio optimization review, a goodwill impairment charge of $1.07 billion, and $950 million in other asset impairment charges in the reported quarter.

For the quarter ending Feb. 3, Dollar Tree reported a net loss of $1.71 billion, or $7.85 per share, in stark contrast to a year-ago profit of $452.2 million, or $2.04 per share.

Kohl’s has announced that its collaboration with Sephora at Kohl’s is thriving, with sales surpassing US$1.4 billion in 2023. The department store is confident in its trajectory, aiming to exceed its US$2 billion target by 2025.

The partnership is expanding with the addition of 140 new small-format (75 sq ft) locations across 40 states by summer. These smaller stores will feature a curated merchandising approach, organizing products by category rather than brand.

Nick Jones, Kohl’s Chief Merchandising and Digital Officer, expressed pride in the ongoing success of the Sephora partnership. He stated, “We are proud of the continued success of our partnership with Sephora.

Not only are we well on our way to having a Sephora presence in every Kohl’s store across America, but we’re also seeing strong sales momentum from our current stores, and the experience is bringing new customers to Kohl’s.

Over the past three years, Sephora at Kohl’s has become a beauty share leader, and our continued investment in bringing prestige beauty offerings to more stores this year demonstrates our steadfast belief in the power of our partnership.”