Apollo's backing enabled Michaels to reposition itself as "culturally relevant" while Party City and Joann Fabrics collapsed.

Retained excerpt

• Apollo's backing enabled Michaels to reposition itself as "culturally relevant" while Party City and Joann Fabrics collapsed. The craft supply store outlasted its public peers by opening reimagined concept stores in the post-pandemic crafting boom. [Bloomberg] • Fiat's answer to America's obsession with big trucks and SUVs: an 8-foot electric microcar with a top speed of 25 mph. The Italian carmaker is betting that the new vehicle can find a niche in resorts and residential neighborhoods. [The Wall Street Journal] • Hokkaido is being touted as Japan's next high-tech hub, with the entire vision resting on Rapidus, a government-backed chipmaker now piloting production of 2-nanometer semiconductors. [The Economist]

This limited excerpt is retained to explain the source trail. Rights remain with the original publisher.