L Brands Reports June 2017 Sales

In response to the devastation caused by recent wildfires throughout California, Gap Foundation will make a $100,000 donation to the Center for Disaster Philanthropy’s (CPD) California Wildfires Recovery Fund. To date, the 2020 California wildfire season has resulted in more than 1.6 million acres of burned land and more than 3,100 structures damaged or destroyed. Gap Foundation chose to partner with CDP because of their approach that prioritizes medium to long-term recovery, especially among vulnerable populations throughout California. Since its inception, CDP’s California Wildfires Recovery Funds has awarded more than $3 million in grants to nonprofits and community groups in northern and southern California. Through the Selvage Fund, and in partnership with E4E Relief, Gap Foundation is able to support Gap Inc. employees who have been directly impacted by the fires.

The American Library Association announced today that the number of unique titles targeted for censorship surged 65% in 2023 compared to 2022, once again hitting record levels. In a release, ALA officials said that 4,240 unique book titles were reported challenged in schools and libraries in 2023, a sharp increase over 2022, when 2,571 unique titles were targeted for removal. ALA also reported 1,247 tracked challenges in 2023, which is down slightly from 1,269 challenges in 2022. But ALA officials stressed that the number does not reflect decreasing challenges, noting that prior to 2021, the vast majority of tracked challenges to library resources came from individuals seeking to remove or restrict access to a single book. Now, as result of an organized political movement and sharing book lists compiled by various groups, the overwhelming majority of tracked challenges come from groups and involve multiple titles.

S&P Global is suspending financial guidance for the full year 2022. Macroeconomic conditions have deteriorated since S&P Global Inc. last provided financial guidance on May 3, 2022, negatively impacting the Company's expectations for GDP growth and debt issuance volumes. Given the volatility and uncertainty in the issuance environment, the Company cannot affirm its previously issued guidance and expects to reintroduce formal financial guidance in conjunction with its second quarter 2022 earnings results. Debt issuance volumes have been extraordinarily weak year-to-date. Should similar trends continue through the end of 2022, market issuance could see year-over-year declines in the high teens. Rated, or billed, issuance could be approximately 30-35% lower than the previous year, and leveraged loan volumes could be approximately 40% lower. In such a scenario, Ratings revenue could be negatively impacted by as much as $600 million relative to previous revenue guidance and the Company would expect Ratings adjusted operating margin in the high 50s range.