Manufacturing takes a sharp turn for the worse

New York (CNN)A key indicator of the health of the manufacturing sector tanked in June, suggesting that business sentiment around new tariffs is starting to bite. China’s retaliatory tariffs on US goods have also had a dramatic effect, with exports to China declining 20% year-over-year in April. It comes amid a global manufacturing slowdown, driven by factors including weak purchases of automobiles and slowing consumer spending in China. “Threats to the global growth outlook from trade protectionism have become much more significant in recent months,” wrote Fitch Ratings in a report released Wednesday. Even without the threatened new tariffs, Fitch downgraded its forecast for global growth in 2019, blaming policy uncertainty caused by the Brexit situation and the breakdown of …

Part fund, part accelerator, Contrary Capital invests in student entrepreneurs

First Round Capital has both the Dorm Room Fund and the Graduate Fund. General Catalyst has Rough Draft Ventures. And Prototype Capital and a few other micro-funds focus on investing in student founders, but overall, there’s a shortage of capital set aside for entrepreneurs still making their way through school. Contrary Capital, a soon-to-be San Francisco-based operation led by Eric Tarczynski, is raising $35 million to invest between $50,000 and $200,000 in students and recent college dropouts. The firm, which operates a summer accelerator program for its portfolio companies, closed on $2.2 million for its debut, proof-of-concept fund in 2018. Contrary Capital celebrating its Demo Day event last year Last year, Contrary kicked off its summer accelerator, tapping 10 university-started …

GetYourGuide picks up $484M, passes 25M tickets sold through its tourism activity app

As we swing into the summer tourist season, a company poised to capitalise on that has raised a huge round of funding. GetYourGuide — a Berlin startup that has built a popular marketplace for people to discover and book sightseeing tours, tickets for attractions and other experiences around the world — is today announcing that it has picked up $484 million, a Series E round of funding that will catapult its valuation above the $1 billion mark. The funding is a milestone for a couple of reasons. GetYourGuide says it is the highest-ever round of funding for a company in the area of “travel experiences” (tours and other activities) — a market estimated to be worth $150 billion this year …