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- Walmart managers can earn $500K a year
Walmart managers can earn $500K a year
Mexico's first female president. WeWork exits bankruptcy. Eco-friendly satellite.
Today’s topics
“Roaring Kitty” steals the spotlight once more
Walmart’s pay and stock incentives
Mexico’s first female president
Wooden, eco-friendly satellite
and more…
Tuesday saw meme stocks steal the spotlight once more, with GameStop shares dropping around 5%. The Nasdaq and S&P 500 played a lively game of ping-pong with gains and losses before settling modestly higher. The Dow, however, confidently closed in the green. After May's rally, the market seems to have rediscovered its taste for drama and volatility. Hang on to your hats, folks!
Walmart store managers can earn $500,000 a year with new pay and stock incentives. In an effort to enhance retention, Walmart has increased pay and stock incentives for its store managers, who oversee locations that can generate over $100 million in annual sales. According to Revelio Labs Inc., Walmart's attrition rate for store managers recently soared to nearly double that of rivals like Home Depot and Target. This spike followed the late 2010s management cuts, which increased workloads and hours for remaining managers. Meanwhile, Walmart had been prioritizing better conditions for hourly workers by investing billions in wage upgrades.
GameStop soars 80% after 'Roaring Kitty' returns with $116 million stake. GameStop shares skyrocketed 80% after 'Roaring Kitty,' also known as Keith Gill, revealed a $116 million position in the company. The meme stock surged to $42.55 in premarket trading, fueled by speculation that Gill, who played a pivotal role in the 2021 short squeeze, holds a substantial amount of GameStop shares and call options. Gill, known as DeepF------Value on Reddit, posted a screenshot of his impressive portfolio Sunday night, reigniting investor excitement and driving the stock's rapid ascent.
WeWork's great escape: a fresh chapter begins. WeWork has scored a win with a US bankruptcy judge greenlighting its Chapter 11 plan, erasing $4 billion in debt and passing control to lenders and real estate tech guru Yardi Systems. Once the poster child for office innovation, WeWork’s pre-COVID expansion spree led to massive losses, ending in its November 2023 bankruptcy amid falling office demand. The new plan, set for mid-June completion, cuts $12 billion in future rent and aims for "sustainable, profitable growth." WeWork will now run 337 shared office spaces, down to half from last year, with over 170 in the US and Canada. Yardi Systems grabs the majority stake with $450 million in financing, while SoftBank stays on as a key supporter.
CEO compensation in S&P 500 companies surged by almost 13% last year, surpassing worker gains, as median CEO pay hit $16.3 million, a 12.6% rise, while worker wages and benefits increased by only 4.1%. Shockingly, at half of the surveyed companies, it would take the average worker nearly two centuries to match the CEO's annual earnings, despite economic hurdles like inflation and rising interest rates.
The World's First Eco-Friendly Satellite Heads to Space
All of the nearly 10,000 satellites in Earth's orbit will eventually burn up in the atmosphere, leaving behind harmful metal particles. To combat this, the University of Kyoto has spent four years developing the world's first wooden satellite, now ready to launch. This innovative approach aims to reduce the environmental impact of deorbiting satellites, ensuring a cleaner atmosphere.
Ed Dwight: from NASA candidate to record-holding space taveler at 90. Ed Dwight, America's first Black astronaut candidate, has finally soared into space 60 years after his initial selection. Originally an Air Force pilot promoted by President Kennedy for NASA's astronaut program, Dwight was not chosen for the 1963 class. At 90, he experienced a few minutes of weightlessness aboard a Blue Origin capsule, describing the journey as "a life-changing experience." Exiting the capsule, Dwight admitted, "I thought I really didn’t need this in my life, but now, I need it in my life. I am ecstatic." This brief flight from West Texas also crowned Dwight as the oldest person in space, surpassing William Shatner's record from 2021.
Simone Biles Secures Record 9th All-Around Title at U.S. Championships
Simone Biles has once again proven her unparalleled prowess, winning her ninth national all-around title and sweeping all event titles at the U.S. Gymnastics Championships in Fort Worth on June 2. The 27-year-old gymnastics legend amassed a dominant two-day total of 119.750, clinching gold in every apparatus: floor, vault, beam, and uneven bars. Despite a rare mistake during her Yurchenko double pike vault, where she over-rotated and landed on her back, Biles still scored an impressive 15.000 due to the vault's difficulty and her near-flawless execution. Her remarkable performance further cements her status as the most decorated gymnast of all time.
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China achieves world's first diabetes cure with cell therapy.
In a historic medical breakthrough, Chinese scientists and clinicians have reportedly cured a patient of diabetes using cell therapy. The 59-year-old man, who had suffered from type 2 diabetes for 25 years and faced severe complications, was reliant on multiple daily insulin injections even after a kidney transplant in 2017. The innovative treatment restored his pancreatic islet function, crucial for blood glucose regulation, marking the first successful diabetes cure using cell therapy. This achievement offers new hope for diabetes patients worldwide.
Dreaming the future: how neurons play the long game in sleep. New research suggests some dreams might predict the future, as neurons replay the past and anticipate future experiences during sleep. By examining rats' hippocampal activity, researchers found that neurons stabilize spatial memories and prepare for upcoming tasks. This study uncovers the crucial role of sleep in neuroplasticity and memory consolidation, highlighting our brain's impressive ability to forecast events. It seems our neurons are not just nostalgic—they're also clairvoyant.
Breaking the glass ceiling: Mexico's first female president. In a historic victory, Claudia Sheinbaum has been elected as Mexico's first female president, securing a decisive win with 58% to 60% of the vote, according to the official electoral authority. Sheinbaum, set to take office on October 1st. Her landslide victory marks a significant milestone in Mexican politics, shattering the highest of glass ceilings.
Dr Pepper surpassed Pepsi to claim the second spot among popular sodas in the US in 2023, per Beverage Digest. Coca-Cola maintains its dominance with a 19.2% market share, while Dr Pepper and Pepsi both secured 8.3%, with Dr Pepper narrowly leading. Other Coca-Cola brands, Sprite and Diet Coke, trailed slightly behind at 8.1% and 7.8% respectively, signifying a notable achievement for Dr Pepper's growing market presence.
Uber announced that its Uber Shuttle service will launch in the United States this summer. The service, already operational in Egypt and India, aims to offer convenient and affordable airport transportation, with specific airport locations to be disclosed as partnerships with airports and local officials are finalized.
TikTok of the day: watch here
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