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- A Landslide Election
Good Morning!
Happy Friday! Have a great weekend:
👉An election landslide
👉Massive retail merger
BREAKING: The U.S. Economy added 206,000 jobs in June
LANDSLIDE: United Kingdom Results
The U.K.’s opposition Labour Party won a big parliamentary majority in the general election, ending the Conservatives' 14-year rule.
Early Friday, Labour hit the threshold to govern alone as PM Rishi Sunak conceded defeat and resigned as Conservative leader. Keir Starmer, leader of the Labour party, will be the next prime minister. He declared victory early Friday. The Labour Party takes over a Britain shaken by Brexit, the Covid-19 pandemic, and a cost-of-living crisis
🎯 GRIT TAKE: This landslide victory marks a significant shift …upgrade to VIP now to read the full GRIT Take!
MERGER: Neiman Marcus and Saks Fifth Ave
HBC, the parent company of Saks Fifth Avenue, announced on Thursday that it will acquire Neiman Marcus Group for $2.65 billion. The merger will create Saks Global, including Saks Fifth Avenue, Saks OFF 5TH, Neiman Marcus, and Bergdorf Goodman.
Source: CNBC
Marc Metrick will become the CEO of Saks Global. This deal comes as traditional retail faces challenges from e-commerce and changing consumer spending habits, especially among younger shoppers.
Chart of the Day
📊Investing In IPOs
Source: GS Investing
GRIT Meme of the Day 😂
Tag GRIT Capital on social media for a chance to be featured in our meme or Tweet of the day in our GRIT daily newsletter! 👇
Source: @mikefischerfl
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