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☆ Can a Vegas Legend Get Super Bowl Tickets? (Asking for Carrot Top.)
▼ + stars: | 2024-02-08 | by ( Scott Cacciola | ) www.nytimes.com time to read: 1 min

Ahead of an afternoon full of appearances on Radio Row, which is the mecca for sports talk radio stations during Super Bowl week, Mr. Thompson was reflecting on the game’s effect on Las Vegas. “I think this is the biggest event we’ve ever had,” Mr. Thompson said. Yes, even Carrot Top has had trouble scoring tickets to the game on Sunday between the Kansas City Chiefs and the San Francisco 49ers. “That’s what everyone says: ‘You’re Carrot Top! You own this town!’” Mr. Thompson said.

Persons: Scott Thompson, Thompson, ” Mr, “, Mr, ” Organizations: Super, Kansas City Chiefs, San Francisco 49ers Locations: Luxor, Casino, Las Vegas

LAS VEGAS (AP) — If Taylor Swift is jetting from her upcoming Tokyo concert to Las Vegas to see boyfriend Travis Kelce play in the Super Bowl the next day, she'd better already have a place to park her plane. “Oh, they’re full,” said Rick Breitenfeldt, FAA spokesman for his sixth Super Bowl. Commercial airlines have added flights and the Las Vegas airport reported Wednesday it handled a record 57.6 million passengers in 2023. Due to time zone differences, if she flies out at midnight, it will be 7 a.m. Saturday in Las Vegas. Hayes said aircraft parking fees during Super Bowl weekend at Harry Reid International were unchanged from the standard rate.

Persons: Taylor Swift, Travis Kelce, she'd, Heidi Hayes, ”, Rick Breitenfeldt, Hayes, Harry Reid, Swift, Breitenfeldt, Brian McCarthy, McCarthy, John Wayne Organizations: LAS VEGAS, Super Bowl, Federal Aviation Administration, Kansas City Chiefs, San Francisco 49ers, NFL, Clark County Department of Aviation, FAA, Super, Las, Las Vegas, Harry Reid International, Henderson, Boulder City Municipal Airport, SWIFT, Dassault Falcon, Vegas, WM Phoenix, National Business Aviation Association, LIV Golf, Las Vegas Country Club, Sunday, That's, Mesquite Municipal, Laughlin, Bullhead, Jean Sport Aviation Center, Ontario International, San Bernardino International, Palm Springs, Palmdale Regional, Los Angeles International, John, John Wayne International, Long, International, Hollywood, Harry, MGM Resorts International Locations: Tokyo, Vegas, Las Vegas, Clark, U.S, North Las Vegas, Boulder, Glendale , Arizona, Phoenix, Saudi, Airports, Mesquite, Nevada, Arizona, California, Santa Ana, Burbank, Las Vegas . Phoenix, Mandalay Bay, Luxor

☆ Napoleon stranded a bunch of scientists in Egypt and now we have modern archaeology
▼ + stars: | 2024-01-30 | by ( Morgan Mcfall-Johnsen | Jenny Mcgrath | ) www.businessinsider.com time to read: +5 min

Napoleon Bonaparte brought engineers, architects, and scientists when he invaded Egypt. In three stages, these "savants" meticulously illustrated the ruins of ancient Egypt. But one of his lesser-known offenses — abandoning a crew of scholars and scientists in Egypt — led to the unexpected byproduct of formal archaeology as we know it today. AdvertisementIt divided Egypt into ancient and modern times, and launched the modern vision of ancient Egypt as we know it today. The structures, symbols, and images of ancient Egypt became fashionable features of European art and architecture.

Persons: Napoleon Bonaparte, —, Egypt —, Ridley Scott, Napoleon, Mohamed Abd El Ghany, Nina Burleigh, Dominique, Vivant, Denon, savants, Napoleon's savants, Burleigh Organizations: Service, Scientific, Art Media, Egyptian Ministry of Tourism Locations: Egypt, France, Upper Egypt, Kings, Luxor, Karnak, Thebes, Edfu, Upper, Lower Egypt, Egyptian, Europe

The Gaza war on the border with Egypt's Sinai Peninsula comes after the impact of Russia's invasion of Ukraine and the coronavirus pandemic exposed long-standing frailties in the Egyptian economy. "Foreign sentiment on Egypt is so weak, and now with this coming along it's last thing that Egypt needed. A foreign currency shortage has led to a $5 billion backlog of imports stuck at ports, and problems for foreign companies repatriating dividends, bankers say. So far, the Gaza war has affected the popular Sinai destinations of Taba, Nuweiba, Dahab and Sharm el-Sheikh but left the rest of the country relatively unscathed. Egypt's tourism minister told Reuters this week that the impact of the war was contained to under 10% of bookings.

Persons: Mohamed Abd El Ghany, Monica Malik, Moataz, Sharm, Karim ElMinabawy, Siamak Adibi, Egypt's, Olumide Ajayi, Malik, Patrick Werr, Sarah El Safty, Aidan Lewis, Toby Chopra Organizations: REUTERS, Abu, Tourism, Countrywide, Emeco, Middle East Gas, FGE, United Arab, Thomson Locations: Giza, Cairo, Egypt, CAIRO, Gaza, Ukraine, Dhabi, Taba, Dahab, Luxor, Aswan, Israel, Europe, Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Gulf . Saudi

☆ Another labor deal averts strike at 8 more Vegas casinos
▼ + stars: | 2023-11-09 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

New York CNN —The Culinary union has reached a deal with MGM Resorts International covering 25,400 members, averting a strike at eight casinos that had been set to start Friday. The deal, announced in a tweet by the union, comes a day after a similar deal was reached with Caesars Entertainment that averted a strike by 10,000 other union members at nine casinos operated by that company. A strike at almost all of the city’s major casinos would have come at a particularly bad time. He praised the MGM deal Thursday, although he would not give details. It also eliminated a lower tier of pay for many union members and gave bigger pay hikes to some part-time workers.

Persons: William Hornbuckle, “ We’re, ” Hornbuckle, Union, Ted Pappageorge, ”, that’s, Fran Drescher Organizations: New, New York CNN, MGM Resorts International, Caesars Entertainment, Wynn Resorts, Las Vegas Convention, Visitors Authority, Caesars, MGM, “ Workers, Las Vegas, Cornell University’s, SAG, United Auto Workers, General Motors, Ford, Kaiser Permanente, Teamsters, UPS, UAW — Locations: New York, Luxor, Mandalay Bay, Vegas, Las Vegas, Las, Detroit, Los Angeles, Orange, California

LAS VEGAS (AP) — MGM Resorts International, the largest employer on the Las Vegas Strip, was close to reaching a tentative deal with the hotel workers union, the casino company’s CEO said as the clock ticked closer to a union deadline for a sweeping strike. “This deal, when announced, will do just that.”During a break in bargaining, the union’s chief contract negotiator said he welcomed Hornbuckle’s sentiments. The union caught a break at dawn Wednesday when it reached a tentative deal with Caesars that covers 10,000 workers at the company’s flagship Caesars Palace, as well as Flamingo, Harrah’s, Horseshoe, Paris Las Vegas, Planet Hollywood, Cromwell and Linq. But experts say a walkout isn’t likely now that the union has a blueprint for a contract after reaching its breakthrough deal with Caesars. That includes walkouts in Hollywood, UPS’ contentious negotiations that threatened to disrupt the nation’s supply chain, and the ongoing hotel workers strike at Detroit’s three casinos, including MGM Grand Detroit.

Persons: Bill Hornbuckle, ” Hornbuckle, “, Ted Pappageorge, Cromwell, Linq, Joshua Guray, Guray, ”, Bill Werner, Tiffany Thomas, Bethany Khan, hasn’t, Khan, ” Khan Organizations: LAS VEGAS, MGM Resorts International, Las, Culinary Workers Union, MGM Resorts, Caesars Entertainment, Wynn Resorts, Caesars, Associated Press, University of Nevada, MGM Grand Detroit, Las Vegas, MGM, Wynn, Workers Locations: Harrah’s, Horseshoe, Paris Las Vegas, Las Vegas, Los Angeles, Hollywood, Luxor, Mandalay Bay, New York

LAS VEGAS (AP) — The labor union representing tens of thousands of Las Vegas hospitality workers announced Wednesday that it had reached a tentative deal with casino giant Caesars Entertainment, a major breakthrough that could help avert an unprecedented strike at more than a dozen hotel-casinos on the Las Vegas Strip. A walkout could still happen if deals aren't reached by 5 a.m. Friday with MGM Resorts International and Wynn Resorts. Negotiations with MGM Resorts were scheduled for Wednesday and Wynn Resorts on Thursday. It would also follow hospitality workers walking off the job last month at Detroit’s three casinos, including MGM Grand Detroit. That includes the Bellagio, Paris Las Vegas and MGM Grand.

Persons: aren't, “, Bethany Khan, ”, Leslie Lilla, ” Leain, Cindy Hiatt, Michelle Shirley, ” Hiatt, Khan, hasn't Organizations: LAS VEGAS, Caesars Entertainment, Las, Culinary Workers, MGM Resorts International, Wynn Resorts, Caesars, Culinary Union, MGM Resorts, UniteHere Team, UPS, MGM Grand Detroit, Bellagio, Las Vegas, Paris Las Vegas, MGM, Wynn, Park MGM, Paris Las, Associated Press Locations: Vegas, Las Vegas, Hollywood, America, Paris, Luxor, Mandalay Bay , New York, New York, Paris Las Vegas, Missouri

☆ Mummified baboons found in Egypt have puzzled scientists for 118 years. Now we finally might know how they got there and why.
▼ + stars: | 2023-11-05 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +9 min

Mummified remains of baboons in Egypt found over a century ago have long puzzled researchers. AdvertisementAdvertisementNew research on the mysterious remains of mummified baboons, found far from their natural habitat over a hundred years ago in Egypt, has shed light on the sacred significance of the primates in the ancient Arabian Peninsula. Kopp's discovery is the first time ancient DNA from a mummified non-human primate has successfully been analyzed to this extent. The exact location of Punt, Kopp told Insider, has long puzzled researchers due to references to the town being found in significant texts and artwork but not found on existing maps. And they even mummified baboons, which any primatologist will tell you is puzzling."

Persons: —, Gisela Kopp, Kopp, Gabbanat, Patrick Ageneau Kopp, they're, Pesky, Nathaniel Dominy, Dominy, you'd, Thoth Organizations: Service, University of Konstanz, Musee des Confluences, Dartmouth College Locations: Egypt, Adulis, Eritrea —, Africa, Eritrea, Punt, Lyon, France, Qurud

Here's a look at the hours that led up to the fatal gunfire. At about 8:30 p.m., Shakur and Knight took their front row seats at the fight at the MGM Grand Garden Arena. Surveillance video showed Shakur and Knight kicking and punching Anderson near a bank of elevators, police said. Shortly before 9 p.m., Shakur, Knight and their entourage left the MGM Grand. Shakur and Knight joked with the officers, the license plates were found in the trunk and they did not get a ticket.

Persons: Tupac Shakur, Duane “ Keffe, ” Davis, Here's, TUPAC, Shakur, Suge Knight, Kidada Jones, Mike Tyson, Bruce Seldon, Knight, Tyson, Davis, Orlando “, Lane ” Anderson, Anderson, Jones, ” Malcolm Greenidge, “, ” Greenidge Organizations: LAS VEGAS, Row Records, MGM, Garden, WBA, Compton, Knight, BMW, Cadillac, Police, University Medical Locations: Las Vegas, Southern California, Knight's, Las, Luxor, Casino, Flamingo, Koval, California

☆ Cairo: The capital of capitals evolving in the shadow of ancient mysteries
▼ + stars: | 2023-09-13 | by ( Richard Quest | Joe Minihane | ) edition.cnn.com time to read: +9 min

CNN —There are cities, there are capitals and then there is Cairo. Chaotic, enchanting and magnificent, the Egyptian capital is awe inspiring and home to a raw energy that’s all its own. A world-class museumThe Grand Egyptian Museum has been decades in the making. Fadel Dawod/Getty ImagesAway from the bustle of central Cairo is something equally, quintessentially Egyptian. Close to Aswan, around 140 miles south of Luxor, lies Philae, an ancient temple with an equally amazing modern history.

Persons: Khan el, Sui Xiankai, Karim El Hayawan, “, ”, El Hayawan, ” El, –, Fadel Dawod, Tayeb Abbas, King Ramses II, Abbas, you’ve, Luke Mackenzie, Tutankhamun, Dr, Betsy Hiel, she’s, Egypt’s, Hiel, Aznar, iStock, “ Philae, Monica Hanna, Hanna, Peter Adams, Isis, Philae Organizations: CNN, Getty, Egyptian, GEM, Kings, UNESCO Locations: Cairo, Xinhua, Luxor, Giza, Salvador, Aswan, Philae, Egypt

LAS VEGAS (AP) — A “cybersecurity issue” led to the shutdown of some casino and hotel computer systems at MGM Resorts International properties across the U.S., a company official reported Monday. “MGM Resorts recently identified a cybersecurity issue affecting some of the company’s systems," the company said in a statement that pointed to an investigation involving external cybersecurity experts and notifications to law enforcement agencies. The nature of the issue was not described, but the statement said efforts to protect data included “shutting down certain systems." A post on the company website said the site was down. The company has tens of thousands of hotel rooms in Las Vegas at properties including the MGM Grand, Bellagio, Cosmopolitan, Aria, New York-New York, Park MGM, Excalibur, Luxor, Mandalay Bay and Delano.

Persons: ”, Brian Ahern Organizations: LAS VEGAS, MGM Resorts, MGM, Bellagio, Cosmopolitan, Park MGM Locations: U.S, Las Vegas, Maryland , Massachusetts, Michigan , Mississippi , New Jersey , New York, Ohio, Nevada, , New York, New York, Luxor, Mandalay Bay, Delano, China, Macau

☆ Cybersecurity issue prompts computer shutdowns at MGM Resorts properties across US
▼ + stars: | 2023-09-11 | by ( ) www.cnbc.com time to read: +1 min

The Bellagio hotel and casino in Las Vegas, Nevada, on Friday, July 28, 2023. A "cybersecurity issue" led to the shutdown of some casino and hotel computer systems at MGM Resorts International properties across the U.S., a company official reported Monday. "MGM Resorts recently identified a cybersecurity issue affecting some of the company's systems," the company said in a statement that pointed to an investigation involving external cybersecurity experts and notifications to law enforcement agencies. The nature of the issue was not described, but the statement said efforts to protect data included "shutting down certain systems." The company has tens of thousands of hotel rooms in Las Vegas at properties including the MGM Grand, Bellagio, Cosmopolitan, Aria, New York-New York, Park MGM, Excalibur, Luxor, Mandalay Bay and Delano.

Persons: Brian Ahern Organizations: MGM Resorts, MGM, Bellagio, Cosmopolitan, Park MGM Locations: Bellagio, Las Vegas , Nevada, U.S, Las Vegas, Maryland , Massachusetts, Michigan , Mississippi , New Jersey , New York, Ohio, Nevada, , New York, New York, Luxor, Mandalay Bay, Delano, China, Macau

☆ Could the curse of Tutankhamun’s tomb be caused by fungi?
▼ + stars: | 2023-08-09 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +7 min

Rumors of a curse have persisted since Howard Carter and others found Tutankhamun's tomb in 1922. But because he'd been present at the opening of Tutankhamun's tomb a few months prior, rumors of a curse started to swirl. But dozens of Egyptian laborers contributed physical and skilled labor to excavate Tutankhamun's tomb. As the decades passed, some scientists wondered if there was something deadly lurking in Tutankhamun's tomb: fungi. Egyptian carpenters prepare to reseal Tutankhamun's tomb with Howard Carter circa 1923.

Persons: Howard Carter, Lord Carnarvon, he'd, King, Carter, Carter's, Tutankhamun, George Herbert , 5th Earl of Carnarvon, LiveScience, Lord Carnarvon's, Susie, Carnarvon, Evelyn Herbert, Harry Burton, Sherlock Holmes, Sir Arthur Conan Doyle, Carnarvon's, Sir Ernest A, Wallis Budge, George Jay Gould, Philip Livingston Poe, Edgar Allen Poe, Richard Bethell, Howard, King Tutankhamun, Apic, Ali Kamel Fahmy Bey, Frank McClanahan Organizations: Service, New York Times, British Museum, Savoy, Harvard University, Hulton, Safety Locations: Wall, Silicon, British, Luxor, Egypt, Cairo, Hampshire, England, London, Aspergillosis

☆ These ancient Egyptian paintings were hiding a secret
▼ + stars: | 2023-07-13 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +8 min

Explore the universe with news on fascinating discoveries, scientific advancements and more.CNN —Researchers using a cutting-edge technique have discovered hidden details in two ancient Egyptian paintings in the Theban Necropolis, near the River Nile, that date back more than 3,000 years. Using portable chemical imaging technology, the researchers identified alterations made by the artists that are rare in Egyptian paintings, commonly thought to be the product of highly formalized workflows. We want to understand how these paintings were made.”X-ray fluorescence in chemical imaging technology helps to reveal alterations made in Egyptian tomb paintings that may not seem obvious to the naked eye. “It demonstrates the potential value of quantitative data, obtained through scientific analysis, for a more comprehensive and less subjective interpretation of ancient Egyptian art,” she said. “And the adaption of portable (X-ray) instruments as mobile devices designed for use in the field is a very exciting advancement in the study of ancient Egyptian wall paintings.”

Persons: ”, Philippe Martinez, Amenhotep III, Mona Lisa of Egypt, ” Martinez, “, Menna, Osiris, Ramesses II, Martinez, I’m, ” Joann Fletcher, Lorelei Corcoran Organizations: CNN —, Sorbonne University, MAFTO, UK’s University of York, of Egyptian Art, University of Memphis Locations: Paris, Egypt, Menna, Luxor, Tennessee

☆ 3 reasons why the Titanic will never be raised
▼ + stars: | 2023-06-26 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +6 min

The Titanic sank in 1912, and ever since people have wanted to salvage it. Its lack of structural integrity is just one of three main reasons why the Titanic is destined to remain sunk forever. The Titanic wreck site is a gravesiteApproximately 1,500 people lost their lives in the sinking of the Titanic. "NOAA recognizes the Titanic wreck site as a maritime memorial and supports Article 4(1) of the 'Agreement Concerning the Shipwrecked Vessel R.M.S. "Captain's bathtub is a favorite image among the Titanic enthusiasts, and that's now gone," Titanic historian Parks Stephenson said in a statement in 2019.

Persons: it's, —, Daniel Stone, Monica Allen, James Cameron, who's, Eva Hart, rusticles, Halomonas, Lori Johnston, Clare Fitzsimmons, Captain Edward Smith's, that's, Parks Stephenson, Xavier Desmier, Charles Smith, Ethan Miller Organizations: Service, NOAA, Titanic Inc, CBS News, New York Times, Titanic, Institute for Exploration, University of Rhode, Materials, USA, Newcastle University, BBC, Costa Concordia, Architectural Locations: Britain, University of Rhode Island, Las Vegas, Luxor, It's

☆ Two strangers met on the River Nile. They’ve been married for 25 years
▼ + stars: | 2023-05-05 | by ( Francesca Street | ) edition.cnn.com time to read: +22 min

Since meeting as colleagues on a Nile tour boat, Christina, from the UK, and Wahid, from Egypt, had spent every moment they could together. Christina KandilOn her first night in Egypt, Christina introduced herself to the Kimo’s crew. On her second evening in Egypt, Christina found herself sitting next to Wahid outside one of the Kimo’s cabins. “And then Christina came, and I fell for her.”At first, Wahid didn’t tell Christina about this very recent ex-girlfriend. It’s now over 25 years since Christina and Wahid fell in love as twentysomethings on the River Nile.

April 18 (Reuters) - Beleaguered bitcoin miners are finally feeling the spring sunshine after a cold, hard crypto winter. At the current bitcoin price, these companies' cash flows have substantially improved and most of them should have no problem paying their obligations," said Jaran Mellerud, analyst at bitcoin mining services company Luxor. Bitcoin mining is the process by which a network of computers validates a block of transactions on the blockchain. "The bitcoin price increase has bought these companies time, but it would be detrimental for these companies if it were to fall back down to $20,000," he said. A rapid rise in power prices or a fast fall in bitcoin could usher in a new cold spell.

☆ Ancient Egyptian zodiac symbols were found in a temple after archaeologists cleared away 2,000 years' worth of grime
▼ + stars: | 2023-03-31 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +6 min

Ancient Egyptian star signs were found under a thick layer of soot and dust in the Temple of Esna. The colors in the full set of Egyptian zodiac symbols are vivid after being protected by the grime. The set is just one of three full sets of ancient Egyptian zodiac signs uncovered in Egyptian temples, said Dr. Daniel von Recklinghausen, a Tübingen Egyptologist who worked on the project. These zodiac symbols were uncovered in the latest series of renovations, which revealed the designs in brilliant colors. Ancient Egyptians adopted astrology late in their reignThese symbols show the decans, which are zodiac symbols representing the 12 hours of the night.

☆ Shareholders of Canada's Ritchie Bros support deal with IAA
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

March 14 (Reuters) - Canada's Ritchie Bros Auctioneers (RBA.TO) said on Tuesday its shareholders voted in favor of its $7 billion acquisition of U.S. auto retailer IAA Inc (IAA.N), according to a preliminary tally. IAA stockholders will receive $12.80 per share in cash and 0.5252 common shares of Ritchie Bros for each share of IAA common stock they own. Upon completion of the deal, IAA stockholders will own 37.2% of the combined company and Ritchie Bros shareholders the remaining 62.8%. For Ritchie Bros, which auctions and sells used heavy industrial equipment, the acquisition is intended to diversify its customer base, giving it a bigger footprint in vehicle re-marketing, and help cut costs. On Tuesday, shares of IAA were up 1.8% at $40.9, while U.S.-listed stock of Ritchie Bros was up 0.7% at $54.8.

☆ Bertarelli-backed Volta Trucks seeks $264 mln in pre-IPO round, says CEO
▼ + stars: | 2023-03-08 | by ( Pablo Mayo Cerqueiro | ) www.reuters.com time to read: +3 min

LONDON, March 8 (Reuters) - Volta Trucks, the electric-truck maker backed by billionaire Ernesto Bertarelli, is in advanced discussions to raise as much as 250 million euros ($263.58 million), its CEO told Reuters. Volta Trucks is gearing up to roll out its electric trucks, after delays in obtaining certification for its vehicles and constraints in sourcing supplies held up production, according to a company spokesperson. The company just months ago tapped investors for around 300 million euros in a deal that valued it at close to 600 million euros. Volta Trucks' existing backers include Kuwaiti supply-chain services provider Agility Public Warehousing Co (AGLT.KW), Bertarelli's family office B-Flexion, Swedish investor Byggmastare Anders J Ahlstrom (AJAb.ST) and U.S. hedge fund Luxor Capital. A spokesperson for B-Flexion said the investor remains "wholly committed" to Volta Trucks, but declined to comment further.

☆ Canada's Ritchie to pay special dividend to investors who back $7-bln IAA deal
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +1 min

March 7 (Reuters) - Canada's Ritchie Bros Auctioneers (RBA.TO) said on Tuesday it would pay a special dividend of $1.08 per share to its investors if they back its $7-billion deal for U.S. auto retailer IAA Inc (IAA.N). However, Ritchie's shareholders including Luxor Capital Group, Eminence Capital, Deep Field Asset Management and Janus Henderson Investors have opposed the deal. The latest move by Ritchie comes after proxy advisory firms Institutional Shareholder Services and Glass Lewis recommended that shareholders reject the deal, citing potential risks. read moreThe dividend will be paid subject to receipt of required shareholder approvals of the merger, Ritchie said adding that IAA shareholders will not be entitled to receive it. Reporting by Aishwarya Nair in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ Scrap-car deal battle is a heaping mess
▼ + stars: | 2023-02-23 | by ( Jonathan Guilford | ) www.reuters.com time to read: +4 min

Investors owning 10% of Ritchie’s shares, as well as IAA shareholder Discerene, want it nixed. They are about where they were before the deal was announced, but only after crashing 20% upon its unveiling. Worse, because Ritchie shareholders will only own part of the combined company, they don’t get the benefit of all of those savings, unlike in an all-cash deal. IAA shareholder Discerene and Ritchie Bros investors Luxor Capital, Janus Henderson, Vontobel, Deep Field Asset Management and Eminence Capital have publicly announced their opposition to the deal. Starboard Value has agreed to invest $500 million in Ritchie Bros in support of the deal, while IAA shareholder Ancora is also in favor.

☆ Rise in Canadian shareholder activism faces test next month with new rules in place
▼ + stars: | 2023-02-12 | by ( Maiya Keidan | ) www.reuters.com time to read: +4 min

The country has lagged the rising trend of activism seen globally, but that could be about to change, lawyers say. Some 53 Canadian companies faced activism campaigns in 2022, a 17.8% rise over the previous year, compared with a 10.6% rise in the U.S to 511, showed data from Insightia, a Diligent brand. Previously, shareholders could only vote 'for' a candidate or 'withhold' their vote, meaning a majority was not legally a necessity. While not enshrined in law, majority voting was often adopted by companies in their policy, prior to the change. And oil and mining companies could continue to be the sector that faces activism, say market participants.

☆ Egypt opens 4,000-year-old tomb on Luxor's West Bank, oldest open to public
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

The Egyptian Ministry of Antiquities/Handout via REUTERSCAIRO, Feb 9 (Reuters) - Egypt has restored, documented and opened to tourists the Middle Kingdom tomb of Meru, the oldest site accessible to the public on Luxor's West Bank, home to some of its most spectacular Pharaonic monuments including the Valley of the Kings. Meru's rock-hewn tomb was restored by the Polish Centre for Mediterranean Archaeology at the University of Warsaw and Egypt's Supreme Council of Antiquities. "This is the only decorated room of the tomb, with an unusual decoration of painting on lime plaster," Yassin said. Meru's tomb had been known since at least the mid-19th century, according to the Polish Egyptian archaeological mission. Some of the Middle Kingdom's most prominent officials were buried at North Asasif, the statement said.

☆ Jeff Smith makes for a substitute Warren Buffett
▼ + stars: | 2023-01-30 | by ( Jonathan Guilford | ) www.reuters.com time to read: +4 min

With markets sagging and deals drawing opposition, such imprimaturs have a value - and at Ritchie Bros Auctioneers (RBA.TO), it’s the turn of Starboard Value’s Jeffrey Smith to play rescuer. Heavy equipment auctioneer Ritchie Bros ran into both problems in its $7 billion bid to buy salvage-car portal IAA (IAA.N). Announced in November, it quickly drew opposition from IAA shareholder Ancora and Ritchie investor Luxor Capital. Shareholder opposition is expected in market turmoil. As part of the deal, Starboard Value agreed to invest $500 million in Ritchie Bros, with fund boss Jeffrey Smith taking a seat on Ritchie’s board if the IAA deal succeeds.

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