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Business

(PHOTO) Harry and Meghan Share Tender Photos as Princess Lilibet Turns 5 in Montecito

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The Duke and Duchess of Sussex, Harry and Meghan, attend the 2022 Robert F. Kennedy Human Rights Ripple of Hope Award Gala in New York City

MONTECITO, Calif. — The Duke and Duchess of Sussex marked a family milestone Thursday as their daughter, Princess Lilibet, celebrated her fifth birthday with newly released photographs and a heartfelt message from her mother.

In a post on Instagram, Meghan, Duchess of Sussex, shared two images of Lilibet, born Lilibet Diana Mountbatten-Windsor on June 4, 2021, at Santa Barbara Cottage Hospital. One photo shows Prince Harry embracing the young princess while Meghan smiles beside them. The second captures Lilibet in a garden setting, her hand gently touching a flower amid lush greenery.

“Our dream girl. Happy 5th birthday, Lili,” Meghan wrote in the caption, using the family nickname for her daughter.

Lilibet, the couple’s second child, follows her brother Prince Archie, who is two years older. The family has lived a relatively private life in Montecito since stepping back from senior royal duties in 2020. Public glimpses of the children remain rare, with the parents often choosing to obscure faces or limit visibility to protect their privacy.

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Recent Family Moments

The birthday tribute follows other recent posts highlighting family life. Meghan previously referred to Lilibet as “Mama’s little helper” in a post showing the pair in what appeared to be a walk-in wardrobe. These glimpses offer fans occasional insight into the children’s personalities while maintaining boundaries.

Just two weeks earlier, the couple marked their eighth wedding anniversary with photographs from their 2018 ceremony at Windsor Castle. The anniversary post reflected on their journey from royal life to independent endeavors in California.

Projects and Public Activities

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Professionally, Prince Harry and Meghan have remained active through their Archewell organization. In May 2026, Archewell announced development of a feature film for Netflix based on the book “No Way Out: The Searing True Story of Men Under Siege” by British Army Major Adam Jowett. The project, written by Oscar-nominated screenwriter Matt Charman, recounts a 2006 battle in Afghanistan involving British troops.

The film represents part of a first-look deal with Netflix following the end of their broader production agreement last year. Archewell continues to focus on storytelling that highlights service, resilience and social issues.

In April, Harry and Meghan traveled privately to Australia’s east coast. Their four-day visit emphasized Indigenous culture, sports, charitable causes and a stop at the Australian War Memorial. The trip underscored Harry’s longstanding connection to military communities, shaped by his own service in the British Army.

Life After Royal Duties

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Since relocating to California, the Sussexes have built a life centered on family, media projects and philanthropic work. Their children have grown up largely away from the intense scrutiny that defined Harry’s own upbringing. Lilibet’s fifth birthday arrives as the family settles into routines balancing public interests with private moments.

Friends and observers note the couple’s emphasis on creating a nurturing environment. Meghan has spoken in past interviews about the joys and challenges of motherhood, while Harry has highlighted the importance of breaking cycles of generational pain. The birthday photos convey warmth and normalcy amid their high-profile existence.

Lilibet’s name carries royal significance, honoring her great-grandmother Queen Elizabeth II, who used “Lilibet” as a childhood nickname. The addition of Diana pays tribute to Harry’s late mother. Despite their distance from the British royal family, these naming choices reflect enduring connections to heritage.

Balancing Privacy and Public Life

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The decision to share select images of Lilibet illustrates the couple’s ongoing navigation of privacy. Meghan has faced criticism and scrutiny over social media use, yet she continues selective posting to mark significant occasions. Supporters view these moments as genuine expressions of parental pride, while critics sometimes question authenticity or timing.

As Lilibet reaches school age, expectations around public appearances may evolve. For now, the family appears focused on providing stability in their California home, surrounded by gardens and open spaces that feature prominently in recent photographs.

Broader Context

The birthday comes during a period of relative calm for the Sussexes after years of high-profile interviews, books and documentaries. Their Netflix deal shift and selective projects suggest a more measured approach to content creation. Archewell’s focus on impactful storytelling, including the Afghanistan film, aligns with Harry’s advocacy for veterans and service members.

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Public interest in the children remains strong, with fans celebrating milestones online. The latest images sparked widespread warm responses, reflecting continued global fascination with the family even years after their departure from royal roles.

As summer begins in California, Lilibet’s fifth year promises new adventures alongside her brother. The family’s ability to shield the children while occasionally sharing joy has become a defining aspect of their post-royal chapter.

Harry and Meghan’s journey from Buckingham Palace to Montecito hills has been marked by challenges and growth. On this birthday, the emphasis remains on family bonds and simple pleasures — a garden flower, a parental embrace and a young girl turning five.

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Business

GameStop Shares Jump on Record Q1 Profit and $2 Billion Buyback Announcement

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Amateur investors have targeted shares of firms including GameStop that had been "short-sold" by hedge funds

NEW YORK — GameStop Corp. shares rose sharply Thursday after the video game retailer posted its highest-ever quarterly net income and announced a substantial new share repurchase program, signaling continued efforts to return capital to shareholders amid a strategic shift toward higher-margin products.

The stock climbed more than 6% in the previous session to close at $22.18 after the company reported fiscal first-quarter results that exceeded expectations on several fronts. By mid-morning trading on June 4, shares were hovering near $22.55, reflecting sustained investor interest following the earnings release.

For the quarter ended May 2, GameStop reported net sales of $835.3 million, a 14% increase from $732.4 million in the prior-year period. The growth was driven largely by collectibles, which accounted for nearly 42% of revenue at $348.9 million, up significantly from the previous year.

Operating income reached a record $143.3 million for the first quarter, compared with an operating loss of $10.8 million a year earlier. Adjusted operating income, excluding certain items, stood at $140.5 million.

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Net income surged to $389.6 million, or 66 cents per share, from $44.8 million, or 9 cents per share, in the year-ago quarter. The figure included one-time gains such as a $268.4 million unrealized gain on derivatives tied to eBay stock holdings and interest income. Excluding those and other adjustments, net income was $179.3 million.

The company’s board approved a new $2 billion discretionary share repurchase authorization, effective through June 2029. This replaces a prior program and underscores management’s confidence in the balance sheet, which showed $9.7 billion in cash, marketable securities, digital assets and related items at quarter-end.

Strategic Evolution Under Cohen

Chairman and CEO Ryan Cohen has steered GameStop toward diversification beyond traditional video game hardware and software sales. Collectibles, including trading cards, apparel, toys and pop culture merchandise, have become a key growth driver as the company reduces reliance on lower-margin categories.

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Hardware and accessories sales declined modestly to $333.7 million from $345.3 million, while software revenue fell to $152.7 million from $175.6 million. Selling, general and administrative expenses decreased to $201.6 million, reflecting ongoing cost discipline.

The results come as GameStop continues to navigate a challenging retail environment for physical video game sales amid the broader industry shift to digital downloads. The company has closed stores in recent periods while investing in e-commerce and alternative revenue streams.

GameStop has also been active on the corporate development front. It has built a stake in eBay, recently increasing its position, and made an unsolicited $56 billion takeover proposal that eBay rejected as “neither credible nor attractive.” Cohen has publicly criticized eBay’s leadership and indicated potential further steps.

Market Reaction and Meme Stock Legacy

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The earnings beat and buyback news triggered positive momentum in a stock known for its volatile trading history tied to retail investor enthusiasm. GameStop remains a favorite among meme stock communities, though its price action has moderated compared to the dramatic surges seen in 2021.

Year-to-date through early June 2026, the shares have shown resilience relative to some other speculative names, with gains supported by balance sheet strength and capital return initiatives. The stock trades well below its 52-week high near $31 but above its low around $19.93.

Analysts and market observers note the company’s strong liquidity position provides flexibility for buybacks, potential investments or other shareholder-friendly actions. The $2 billion authorization represents a significant commitment relative to the current market capitalization of approximately $9.4 billion to $10 billion.

Broader Retail Challenges

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Despite the positive quarter, GameStop faces ongoing pressures in the video game retail sector. Industry-wide trends favor digital distribution, pressuring physical store footprints. The company has been trimming locations while attempting to transform stores into experiential destinations for gaming and collectibles enthusiasts.

Gross profit improved to $340 million from $252 million a year ago, aided by the higher-margin collectibles mix. Management has emphasized operational efficiency and inventory management as priorities.

Looking ahead, the company did not provide specific forward guidance in its release, consistent with past practice. Investors will watch for updates on store optimization, e-commerce growth and any developments regarding the eBay position or other strategic moves.

The upcoming fiscal second quarter will be closely monitored for seasonal strength around summer releases and back-to-school periods. Holiday performance remains critical for the full-year outlook in this cyclical business.

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Investor Sentiment and Risks

Retail investors continue to track GameStop closely, with message boards and social platforms buzzing after the earnings. The combination of record profits, massive cash reserves and aggressive capital allocation has renewed optimism among long-term holders.

However, risks persist. Short interest, while lower than peak levels from previous years, remains a factor in volatility. Broader economic conditions, consumer spending on discretionary items and competition from online giants could influence results.

Wall Street consensus ratings have generally been cautious, with many analysts citing valuation concerns and secular industry headwinds even as recent results demonstrate progress under the current leadership.

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GameStop’s market capitalization stood near $9.4 billion following the latest close, with roughly 448 million shares outstanding. The price-to-earnings ratio on trailing adjusted figures reflects improved profitability but still embeds expectations for sustained execution.

As the company evolves from a traditional brick-and-mortar retailer into a more diversified player in gaming and collectibles, its ability to deliver consistent results will determine whether the current momentum can be maintained. The $2 billion buyback provides a floor of support while management pursues longer-term transformation.

Trading volume on Wednesday was elevated at over 17 million shares, well above average, as investors digested the news. Continued follow-through will depend on broader market sentiment and any incremental updates from the company in coming weeks.

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Apple faces Indian engineer’s bias lawsuit

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The Economic Times
Apple Inc. lost an early round in a discrimination lawsuit brought in the U.S. by a female engineer from India who says her two managers — one from her country, the other from Pakistan — treated her as they would in their own countries: as a subservient.

The woman’s case in California state court is the latest to allege workplace bias in Silicon Valley that focuses on cultural prejudices of some tech workers from South Asia. Cisco Systems Inc. is fighting a suit brought by California’s civil rights agency alleging bias against a member of India’s so-called lower castes, known as Dalits.

Anita Nariani Schulze is part of the Sindhi minority — she is Hindu, with ancestry in the Sindh region of what is now Pakistan. Her complaint alleges that her senior and direct managers, both male, consistently excluded her from meetings while inviting her male counterparts, criticized her, micromanaged her work, and deprived her of bonuses, despite positive performance evaluations and significant team contributions.

Schulze claims the managers’ animus reflects sexism, racism, religious bias and discrimination on the basis of national origin. The Sindhi Hindu nationality is “known for its technical acumen” and its gender equality, she says, which “exacerbated the managers’ discriminatory treatment.”

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In a tentative ruling on Wednesday, Santa Clara County Superior Court Judge Sunil R. Kulkarni rejected Apple’s request to toss out the suit. While not ruling on the merits of the case, Kulkarni said Schulze had adequately supported her legal claims. Apple had argued her claims weren’t specific enough and were based on stereotypes.

But the judge rejected Schulze’s request to represent a class of female Apple employees who suffered job discrimination over the last four years. He agreed with Apple that she didn’t show a pattern of discrimination that could be applied to a broader group.