Target reports $500M Heist!

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What’s Hot Target is being picked clean with a loss of $500 million due to organized retail crime, leaving their earnings shrink-wrapped. In response to these steal deals, they've installed safety locks on popular items. As crime carts off their profits, they're aiming for stricter government check-out regulations to bag the thieves…

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🪢US-Taiwan Trade Pact Deepens Ties Amid China's Opposition

U.S. and Taiwan have agreed on the first stage of a bilateral trade initiative, marking a significant step in their strengthening relationship. "US-Taiwan Initiative of 21st Century Trade" covers trade facilitation, regulatory practices, anti-corruption, and support for SMEs. However, the deal faces potential opposition from China, who criticized attempts to "play the 'Taiwan card'". This agreement, though not affecting tariffs, may boost Taiwan's bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

📉US Weekly Jobless Claims Drop, Labor Market Resilient Amid Recession Concerns

U.S. jobless claims fell more than expected last week, defying recession fears. The drop, largely attributed to the decline in fraudulent unemployment claims in Massachusetts, suggests the labor market remains tight. Federal Reserve's monetary policy tightening is closely watched, though the job market shows resilience. Christopher Rupkey, FWDBONDS' chief economist, says "The labor market is not deteriorating", hinting at fraudulent claims for the previous rise.

🌐 Zelenskiy to Join Hiroshima G7 Summit, Spotlight on Russia-Ukraine Conflict

Hiroshima: G7 leaders convene to intensify sanctions on Russia amid its Ukraine conflict. Ukraine's President Zelenskiy will be attending the summit on Sunday. Britain will announce a ban on Russian diamonds, metal, and other imports. Occurring near the anniversary of Hiroshima's nuclear bombing, the assembly accentuates global unity against Russia's threat of nuclear weapons use. Japanese PM said he purposely chose the city for the summit to focus attention on arms control.

🇨🇳China’s Xi Unveils Ambitious Development Plan for Central Asia

China's President Xi Jinping announces an ambitious development strategy for Central Asia, aiming for increased trade, infrastructure, and modernization for Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. Offering $3.8 billion in financial support, fostering job creation, and enhancing energy cooperation, China seeks to reinforce its influence in this traditionally Russian-influenced, resource-rich region, amidst diminishing U.S. presence and Russian distractions. Xi pledges "deeply complementary and high-level win-win cooperation".

🤩OpenAI Unveils Free ChatGPT iOS App

OpenAI introduces a free ChatGPT iOS app for US users, aiming for global availability soon. Offering the same features as the web-based tool, the app adds voice prompts and history synchronization across devices. Subscribers to the $20 per month ChatGPT Plus receive additional perks, including GPT-4 capabilities. An Android version is planned, says OpenAI's CTO Mira Murati.

⚡TikTok Creators Sue Montana Over App Ban, Citing Free Speech Concerns.

Five Montana TikTokers are suing to overturn the state's unprecedented TikTok ban, citing free speech violations. They argue Montana lacks authority over national security issues. "The law... banning the protected speech of all TikTok users in Montana," the complaint states. The lawsuit claims the ban, effective January 2024, would permanently hinder plaintiffs' self-expression. Critics argue that the ban could be bypassed by using VPNs.

📡 ESPN Set to Launch 'Flagship' Streaming Service, Expanding Reach Beyond TV

ESPN is developing 'Flagship', a subscription-based streaming service targeting cord-cutters, alongside existing TV channels and ESPN+. The timeline remains unclear. Unlike ESPN+, the new service may include high-value NFL and NBA games. This follows industry trends, with live sports moving to platforms like Peacock and Amazon Prime, underlining the growing demand for sports streaming services.

🏆 Harrison Ford Honored with Palme d'Or as 'Indiana Jones 5' Premieres at Cannes

At the Cannes Film Festival, Harrison Ford received the honorary Palme d’Or during the premiere of "Indiana Jones 5: Dial of Destiny." He expressed gratitude towards his wife, Calista Flockhart, and his co-stars, including Phoebe Waller-Bridge and Mads Mikkelsen. This is Ford's final appearance as Indiana Jones, a role he began in 1981. The film, largely positively received, will debut in US theatres on June 30.

😤 Disney Scraps $1bn Florida Campus Plan Amid Clash with DeSantis

Disney, amidst a legal row with Florida Governor Ron DeSantis over anti-LGBTQ+ legislation, has axed a $1bn Florida campus plan, set to house 2,000 employees. Disney Parks Chief Josh D'Amaro cited "changing business conditions" and employee dissatisfaction as reasons. D'Amaro states, "This was not an easy decision... but I believe it is the right one." The canceled project deepens concerns about Florida's business attractiveness.

🤰South Carolina House passes six-week abortion ban

South Carolina's House passed a bill banning most abortions after 6 weeks of pregnancy, an action commended by anti-abortion groups. Winning an 82-33 vote, the bill progresses to the Senate. Earlier attempts failed due to a lack of Senate approval and constitutional concerns. Caitlin Connors of Susan B. Anthony Pro-Life America noted, "Enacting a heartbeat law...will be a giant step forward for South Carolina."

🤯Accounting Error Unlocks $3 Billion for Ukraine Weapons Assistance

The Biden administration uncovered a $3 billion accounting error in assessing military aid to Ukraine, inflating available aid to $5.3 billion. This error is due to valuing weapon replacement costs rather than actual costs. Lawmakers criticized the error, asserting it delayed crucial support. Chairman Michael McCaul and Chairman Mike Rogers stated, "These funds could have been used for extra supplies and weapons for the upcoming counteroffensive."

On this day in 2018, Prince Harry and American actress Meghan Markle tied the "royal" knot at St. George's Chapel, blending British pomp with a dash of American spice. Their "I dos" mixed the traditional tea and crumpets with a touch of soul, celebrating Meghan's biracial roots.

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