
5 things: Black Sails Coffee opens July 12 in Citrus Heights
Here's what else you need to know.
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Black Sails Coffee Lounge sets opening date in Citrus Heights
Last month, my colleague Jake Abbott told you that Black Sails Coffee Lounge was coming to the Marketplace at Birdcage in Citrus Heights.
Update: The locally owned business will open at 11 a.m. on July 12, operators announced on social media. It's located at 5925 Birdcage Centre Lane, Suite 102.
Black Sails Coffee Lounge will specialize in espresso drinks, cold brew, hot coffee and tea, in addition to pastries, the Business Journal previously reported.
Intel cuts more jobs in Folsom
The Intel Corp. campus in Folsom will have a permanent layoff of 54 employees in July, part of a reduction that also included 110 employees for the chip giant in and around its headquarters in Santa Clara.
Intel notified state employment officials of a permanent layoff of 54 employees effective July 11 at the Folsom campus.
Reporter Mark Anderson has details about Intel's latest layoffs in Folsom.
Chinese eatery to replace Station 16 in Midtown
A restaurant group specializing in Chinese cuisine is expanding into California, with a new concept planned for the Firestone Building in Midtown Sacramento.
Dumpling King has signed a lease for a 5,128-square-foot restaurant space at 1118 16th St. The space was most recently occupied by Station 16, which operated out of the spot for nearly 10 years and served steaks and seafood.
The restaurant group behind the upcoming Dumpling King has several sites in Oregon.
Reporter Jake Abbott explains what to expect from Dumpling King in Midtown Sacramento.
California passes 'historic' CEQA reform
California has enacted a series of changes to the California Environmental Quality Act, easing a regulatory process that critics, including Gov. Gavin Newsom, have long decried as unnecessarily restrictive of new development.
Newsom late Monday signed into law Assembly Bill 130, which, drawing upon a bill proposed earlier this year by Assemblymember Buffy Wicks (D-Oakland), creates a new class of residential development for which review under CEQA, a law notorious for its capacity to delay and derail development in California, is no longer necessary.
Sarah Klearman from our sister publication, the San Francisco Business Times, explains what you need to know about changes to the California Environmental Quality Act.
2 undeveloped Natomas properties proposed for infill housing
Two undeveloped North Natomas properties, including one less than 5 miles from Downtown Sacramento, are proposed for zoning changes to develop them as single-family housing.
The larger one, 38.3 acres northwest of where Interstate 5 meets Interstate 80, was proposed five years ago as an employment center, but didn't get far before the Covid-19 pandemic sapped demand for office space.
Senior Reporter Ben van der Meer has details about the Natomas properties proposed for infill housing.
Have a great day, folks. Thanks for reading.
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Business Wire
22 minutes ago
- Business Wire
CDB Aviation and Loong Air Execute Lease Agreements for Six A321neo Aircraft
HANGZHOU, China--(BUSINESS WIRE)--CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. ('CDB Leasing'), announced the execution of new lease agreements for six Airbus A321neo aircraft with its Chinese airline customer, Zhejiang Loong Airlines Co., Ltd. ('Loong Air'). We are pleased to strengthen our partnership with Loong Air through this transaction, which underscores our commitment to supporting the growth of China's aviation sector. Share The Hangzhou-headquartered carrier is expected to take delivery of the aircraft in 2027 from the lessor's orderbook. Renowned for its fuel efficiency, reduced carbon emissions, and extended range capabilities, the A321neo, the largest member of Airbus' A320neo family, is well suited to enhance Loong Air's operational efficiency and sustainability goals. 'We are pleased to strengthen our partnership with Loong Air through this transaction, which underscores our commitment to supporting the growth of China's aviation sector,' said Jie Chen, Chief Executive Officer of CDB Aviation. 'The A321neo's superior economics and passenger comfort align perfectly with Loong Air's vision of expanding its domestic, international and regional network.' Established in 2011, Loong Air operates a fleet of over 70 Airbus A320-family aircraft, serving major Chinese cities and select international routes. The addition of the A321neos will enable the airline to boost capacity on high-demand routes while maintaining its focus on cost efficiency and environmental responsibility. 'This agreement marks another milestone in Loong Air and CDB Aviation's strategic partnership of more than 10 years,' commented Qihong Liu, Chairman of Loong Air. 'We also hope to continue to explore new opportunities of cooperation with CDB Aviation and jointly promote innovative development in the future. The A321neo's enhanced performance and cabin flexibility will allow us to offer an elevated travel experience to our passengers, while supporting our long-term sustainability objectives.' Forward-Looking Statements This press release contains certain forward-looking statements, beliefs or opinions, including with respect to CDB Aviation's business, financial condition, results of operations or plans. CDB Aviation cautions readers that no forward-looking statement is a guarantee of future performance and that actual results or other financial condition or performance measures could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as 'may,' 'will,' 'seek,' 'continue,' 'aim,' 'anticipate,' 'target,' 'projected,' 'expect,' 'estimate,' 'intend,' 'plan,' 'goal,' 'believe,' 'achieve' or other terminology or words of similar meaning. These statements are based on the current beliefs and expectations of CDB Aviation's management and are subject to significant risks and uncertainties. Actual results and outcomes may differ materially from those expressed in the forward-looking statements. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. Except as required by applicable law, we do not undertake any obligation to, and will not, update any forward-looking statements, whether as a result of new information, future events or otherwise. About Loong Air Zhejiang Loong Airlines Co., Ltd. ('Loong Air') was established on April 19, 2011, with its first cargo flight launched on August 9, 2012, and its first passenger flight on December 29, 2013, Based on Hangzhou, Zhejiang Province. The company serves as Zhejiang Province's leading home-based airline and one of the key players in the aviation industry. Loong Air has established three branches in Northwest, Southwest, and Central-South of China. To date, its fleet size reach to 73, operating domestic and international passenger and cargo routes covering Mainland China, Hong Kong, Macau and extending to Japan, South Korea, Southeast Asia, South Asia, and Central Asia, transporting over 10 million passengers annually. The company is committed to four major development visions: high-quality, group operations, intelligence and international, to establish itself as a world-class aviation group. About CDB Aviation CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. ('CDB Leasing') a 40-year-old Chinese leasing company that is backed mainly by the China Development Bank. CDB Aviation is rated Investment Grade by Moody's (A2), S&P Global (A), and Fitch (A+). China Development Bank is under the direct jurisdiction of the State Council of China and is one of the world's largest development finance institution. It is also the largest Chinese bank for foreign investment and financing cooperation, long-term lending and bond issuance, enjoying Chinese sovereign credit rating. CDB Leasing is the only leasing arm of the China Development Bank and a leading company in China's leasing industry that has been engaged in aircraft, infrastructure, ship, commercial vehicle and construction machinery leasing and enjoys a Chinese sovereign credit rating. It took an important step in July 2016 to globalize and marketize its business – listing on the Hong Kong Stock Exchange (HKEX STOCK CODE: 1606).


New York Post
2 hours ago
- New York Post
Lucy Guo's advice to other billionaires: 'Act broke, stay rich'
Tech entrepreneur Lucy Guo, 30, recently dethroned Taylor Swift as the youngest self-made female billionaire on the planet. But don't expect her to be popping Champagne bottles. 'I feel like the title changes every year,' Guo told The Post about the Forbes magazine ranking. 'It means almost nothing to me personally.' Guo's billion-dollar bounty comes from Scale AI, the artificial intelligence data-labeling startup she launched in 2016 with Alexandr Wang, when she was just 21. She left two years later but held onto an estimated 5% stake — a small slice that turned into a massive windfall this April when insider shares valued Scale AI at $25 billion, making Guo's cut worth an estimated $1.2 billion. 11 Tech entrepreneur Lucy Guo, 30, recently dethroned Taylor Swift as the youngest self-made female billionaire on the planet. Margot Judge for NY Post So, yeah. She's officially a billionaire, but doesn't feel like one. Guo's motto? 'Act broke, stay rich.' The coder-turned-founder still clocks 90-hour workweeks with a schedule that starts at 5:30 a.m. and ends at midnight — including up to four Barry's Bootcamp classes a day. Guo credits her 'no sleep' DNA to her parents, Chinese immigrants who worked as engineers in the San Francisco Bay area. 11 Guo made the cover of Forbes in April. Her billion-dollar bounty comes from Scale AI, the AI data-labeling startup she launched in 2016 with Alexandr Wang, when she was just 21. guofortit/Instagram The fast-talking tech trailblazer doesn't believe in wasting time. 'I don't watch TV or scroll TikTok,' Guo admitted. 'So that gives me many extra hours in a day. I'm constantly on the go, whereas a lot of people build in relaxation time. I do fill in my schedule with fun stuff, like at 10 p.m. maybe I'll go get dinner with friends.' While she may not splurge on Bentleys or Birkins, Guo has no shortage of interests — including Barry's, EDM music festivals, skateboarding, skydiving, collecting Pokémon plushies and building startups from scratch. Her latest professional passion project is Passes, the creator-driven platform she founded in 2022 that's already generating six-figure incomes for influencers, YouTubers, podcasters, astrologers and even golfers. 11 The Post previously photographed Guo at home in 2022. Sonya Revell for The New York Po 'Passes is a full-stack business platform for creators,' Guo explained. 'They can sell merch, subscriptions, unreleased YouTube videos, live streams and group chats to their superfans all in one place.' The idea for Passes came to her during the pandemic while running a start-up incubator. Guo saw creators like Logan Paul and Kylie Jenner building nine-figure brands and realized the real power lay in ownership. 'Creators are very unique. They can sell anything, and they don't have the typical customer acquisition costs that normal people have,' she said. 'They are these small businesses that can become larger businesses, but they've been mismanaged. No one was helping them get equity or build generational wealth.' 11 Among her extracurricular passions — learning to DJ. guofortit/Instagram With Passes, Guo aims to fix that. She's introduced a suite of tools to help creators monetize their brands, from in-house design to AI. Most significantly, creators keep 90% of their profits. 'We've become 80% to 100% of the creator's income,' Guo said with obvious pride. 'Even creators who have millions of followers on other platforms tell us that we are the most consistent income they have, and the majority of their income as well.' Unlike Instagram or TikTok, Passes is focused on the relationship between creators and their superfans, with monetization baked in. 'Instagram builds for breadth,' Guo said. 'Passes builds for depth. We're more like Patreon.' Still, comparisons to another platform, OnlyFans, persist. She insist's that not accurate. 11 Guo posted a photo with Bill Gates on her Instagram, joking, 'One of my guilty pleasures is being the dumbest person in the room.' guofortit/Instagram 'Our feature set is vastly different from OF. And even if you're not doing nudes on OF, the type of creator we attract would never go on OF because they don't want that as part of their brand.' The digital disruptor also points out that Passes has a no-nudity policy and stricter guidelines than OF. Nevertheless, there's been some controversy at Passes. A class-action lawsuit this year alleged underage content slipped through the cracks — claims Guo calls 'a shakedown.' 'We filed a motion to dismiss,' she said, denying the allegations. 'Their claims don't match the investigation that we found. Bad actors are always going to be bad actors, and we just do our best to try to prevent this.' 11 Guo is also an avid skateboarder. Sonya Revell for The New York Po Passes currently has around 50 employees, thousands of creators and millions of subscribers. The biggest moneymakers include golfer Charley Hull, YouTuber Sssniper Wolf and a surprising niche: astrologers who sell daily horoscopes. 'Our creators are doing amazing things,' Guo said. 'And we're just getting started.' Her career has always been ahead of the curve. She began coding in second grade, studied computer science and HCI at Carnegie Mellon — and then dropped out after earning a $100,000 Thiel Fellowship. The California native interned at Facebook, became the first female designer at Snapchat and met her Scale AI cofounder, Wang, at Quora. The rest is billion-dollar history. But despite her self-made status, Guo is still sometimes underestimated. 11 She founded the platform Passes — which occupies a 25,000-square-foot office in Los Angeles. Margot Judge for NY Post 'People don't understand how much work it takes to get here,' she said. 'They see the headlines, but they don't see the 18-hour days.' And the billionaire has had her fair share of headlines, including the time she hosted a wild rager at her $6.1 million luxury apartment in Miami, replete with a lemur and snake. The party did not win over her neighbors like David Beckham, and she was reprimanded by the building's HOA. Soon after, Guo moved back to the West Coast, and bought a $4.2 million, five-bedroom mansion in Los Angeles that boasts a dipping pool and screening room. Being in LA also allows her to personally interact with creators in Passes' 25,000-square-foot state-of-the-art office. 'They come to our office to shoot content and record podcasts,' she said. 'It's a relationship-driven business. We're even building a music studio.' Guo's love of music, especially EDM, runs deep. Her obsession began at age 20, when she saw Major Lazer at Outside Lands Music & Arts Festival at Golden Gate Park in San Francisco. 'When I was living in San Francisco, I was not as happy as a person,' she admitted. 'But I was blown away by my first EDM experience. I think it's been proven that EDM makes you happier based off the BPM. It's all very positive, happy energy.' 11 The billionaire has had her fair share of headlines, including the time she hosted a wild rager at her then-home in Miami, replete with a lemur (pictured) and a snake. Guo's now learning to DJ and often hops behind the decks when friends perform: 'I played for 30 minutes at a club in LA recently and people were like, 'That set was so good!'' She always keeps a music-filled USB in her bag, and will fly to a music festival on a minute's notice, especially for her favorite DJs like Layton Giordani, Kygo, Gryffin, Mau P. and Zedd. Already this summer, she hit Europe for a month of VIP access at various music festivals. Guo also attended the A-list launch of the Ritz-Carlton Yacht Collection in Barcelona, alongside Tom Brady, Sofía Vergara and Naomi Campbell. She's next planning to visit Kenya and witness firsthand the great migration of wildlife across the Serengeti-Mara ecosystem. 11 Guo collects Pokémon plushies. guofortit/Instagram 'I pick destinations based on views or mountains,' she said. 'If it has a Barry's Bootcamp, even better.' Guo is also a low-key Swiftie — though she jokes that beating Taylor Swift on the billionaire list hasn't changed things much for her. 'The only difference is my DMs are popping,' she said. 'Lots of celebrities trying to hang out. But now I'm more cautious. Do they think I'm hot? Do they want advice? Or are they just hoping for a PJ ride? It's made me put up my guard more.' 11 'I've been on all sides — engineer, VC, founder — but what excites me the most is product,' Guo said. Margot Judge for NY Post Guo was even mistakenly linked to Orlando Bloom in a tabloid because they were spotted next to each other at a party. 'I turned around and glanced at a wall, and the paparazzi snapped a photo,' she said, laughing. 'I'm definitely not dating Orlando Bloom.' The 30-year-old insists she doesn't have time to date, in fact. 'I've been on all sides — engineer, VC, founder — but what excites me the most is product,' she said. 'Figuring out the next feature, building tools people actually use, helping creators go big. That's what I love.' Just don't expect Guo to slow down anytime soon. 'I have too much energy to burn.'


CNBC
3 hours ago
- CNBC
If Apple makes a foldable phone, analysts say this stock will benefit
Even if Apple's long-awaited foldable may still be months or years away, buyers are lining up for a potential major supplier: Chinese glass maker Lens Technology . It's "one of the key beneficiaries of [the] foldable iOS smartphone supply chain," Citi analysts led by Kyna Wong said in a July 14 report about Lens Tech. They estimate the device could contribute to 5% of the Chinese company's revenue next year, and 12% in 2027. In a report last week, reputable Apple analyst Ming-Chi Kuo kept up expectations that the iPhone maker will begin making a foldable next year. Apple has not made any announcements, and did not immediately respond to a request for comment on whether Lens Tech would provide the "ultra thin glass" that covers the phone display panel. The Citi report initiated coverage of Lens Tech after its stand out Hong Kong public offering on July 9 — raising 4.77 billion HKD ($610 million) on the exchange's busiest day ever for listings — five IPOs at once. Bank of America Securities was one of the underwriters. The Citi analysts rate Lens Tech a buy, with a price target of 26 HKD ($3.13), or nearly 25% upside from Friday's close. "We believe the H-share listing is positive for the company," the analysts said, "as it should provide more cash for potential R & D initiatives and overseas capacity expansion, and expand the overseas institutional investor base." U.S. hedge fund magnate Steve Cohen has jumped in, with multiple purchases over three days that brought his stake in Lens Tech to 8.41% of issued voting shares, according to filings with the Hong Kong stock exchange. About 30% of proceeds raised from the Hong Kong offering will go towards developing foldable screens, Lens Tech said in its prospectus. "By increasing our production capacity in China, we aim to ensure robust support for the mass production of middle and high-end foldable smartphones for our customers and improve our market share in foldable screens," the company said. Lens Tech did not name Apple, but disclosed that its largest customer has been a Nasdaq-listed U.S. multinational founded in 1976 — and said the business relationship started "almost two decades ago when Customer/Supplier A was developing the industry's first touch-enabled smartphone with full-sized screen." Lens Tech's latest listing follows a trend this year of more mainland Chinese companies going public in Hong Kong, which is easier for international investors to access. The company already trades on the Shenzhen Exchange. "We expect Lens to benefit from the foldable iPhone launch [and] AI glasses & robotics" that drive earnings growth of at least 20% a year in 2026 and 2027, UBS analyst Zoe Xu and a team said in a separate July 14 report. They resumed coverage of the mainland China-traded shares with a buy rating and a new price target of 26.20 yuan, up from 16 yuan previously. The Citi analysts also raised their price target on Lens Tech's mainland-traded shares to 32 yuan ($4.45) from 25 yuan. Lens Tech has been reducing its reliance on Apple revenue, and states in its prospectus that "Customer B" is a "Nasdaq-listed American company founded in 2003 that designs and sells smart vehicles." Other listed customers include South Korean, French and Chinese companies. The UBS analysts pointed out that Lens Tech shares remain depressed after a 30% tumble in the week following U.S. "Liberation Day" tariffs in early April. But they expect the company can benefit from selling to Chinese startups such as smart glasses company Rokid and Zhiyuan Robotics. And even without a potential foldable iPhone, Lens Tech can likely benefit from selling cover glass for this year's iPhone 17 which is expected to offer a slimmer design. Lens Tech noted in its prospectus that its direct exports to the U.S. are limited and that it plans to use Hong Kong listing proceeds to expand production overseas in Vietnam and Thailand. In addition to China, the company said it already has factories in Vietnam and Mexico. — CNBC's Michael Bloom contributed to this report.