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☆ How far does Gulf money go? An Abu Dhabi-backed newspaper buyout attempt is sparking panic in London
▼ + stars: | 2024-03-14 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Copies of The Daily Telegraph newspaper on a newsstand in a shop in London, UK, on March 12, 2024 (L), and UAE Vice President Sheikh Mansour bin Zayed al-Nahyan speaking at COP28 on Dec. 1, 2023. More than 100 members of Parliament have signed a letter opposing the buyout of major British newspaper the Telegraph and news magazine, The Spectator, by UAE government-backed investment fund RedBird IMI. Long a favorite of Britain's Conservative Party, ownership of the 168-year old daily is not just about profit, but about power. The deal would ultimately see the Telegraph, which is valued at a reported £600 million, come under full Emirati ownership. Lawmakers have been scrambling to introduce a new law that would enable Parliament to veto buyouts of news outlets by foreign governments.

Persons: Sheikh Mansour bin Zayed, Nahyan, Britain's, Long, Sheikh Mansour bin Zayed Al Nahyan, Barclay, Lucy Frazer Organizations: Daily Telegraph, UAE, COP28, United Arab Emirates, United Emirates, British, Telegraph, The, IMI, Britain's Conservative Party, Lloyds Bank, State for Culture, Media, Sport Locations: London, DUBAI, United Arab, Qatar, Saudi Arabia, UAE

☆ Kate’s photo should have quelled the rumors. Editing it has done exactly the opposite
▼ + stars: | 2024-03-11 | by ( Lauren Said-Moorhouse | Max Foster | ) edition.cnn.com time to read: +7 min

The photograph was released by Kensington Palace early Sunday on the couple’s official social media accounts, to mark Mother’s Day in the United Kingdom. I hope everyone celebrating had a very happy Mother’s Day,” she wrote before ending her post with a “C” for Catherine. This year’s Mother’s Day photograph was also the first proper sighting of the princess since Christmas Day. Questions about the Mother’s Day image first emerged on social media. In the past, the family’s amateur photographs have been well received when posted on social media.

Persons: Catherine, Princess of Wales, Kate, Prince George , Princess Charlotte, Prince Louis, –, Prince William, ”, Princess of, Prince George, Princess Charlotte, Princess, Wales, Catherine , Princess of Wales, They’ve, they’ve, William Organizations: London CNN, Kensington Palace, CNN, Associated Press, Daily Telegraph, Daily Mail, CNN’s Royal, Westminster Abbey Locations: Kensington, United Kingdom, Princess of Wales, Windsor, Adelaide

☆ The man who shadowed King Charles for a year describes what life for the royal is really like
▼ + stars: | 2024-02-01 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +8 min

The British journalist shadowed King Charles for the BBC documentary, "Charles III: The Coronation Year." (In the US, it's retitled "The Making of a King: King Charles III and the Modern Monarchy.") Prince Charles, Prince Andrew, and Princess Anne ended their respective marriages, and the royal family's largest residence, Windsor Castle, was severely damaged in a fire. King Charles III and Queen Camilla stand on the Buckingham Palace balcony during the Coronation of King Charles III and Queen Camilla on May 6, 2023. King Charles (Dominic West) and Camilla Parker-Bowles (Olivia Williams) in "The Crown" season six.

Persons: —, King Charles, Hardman, Charles, That's, Charles III, Princess Anne, Queen Camilla's, Annabel Elliott, it's, King Charles III, Hardman didn't, Sarah, Duchess, York, Princess Beatrice, Princess Eugenie, Tim Graham, Queen Elizabeth II, . Prince Charles , Prince Andrew, Queen Elizabeth's, Queen Camilla, Brandon Bell, Prince, Wales, Duke of Rothesay, King Charles III —, Queen, King Charles and Prince William, Chris Jackson, REUTERS Hardman, Charles wouldn't, Dominic West, Camilla Parker, Bowles, Olivia Williams, Netflix Hardman, Camilla, he's, Robert Hardman, Queen Elizabeth, Prince Harry, Meghan, Princess Lilibet, Duke, Duchess of Sussex, Prince William, RICHARD POHLE, Omid Scobie, Duchess of, Scobie, Gyles, Elizabeth, Brandreth, they've Organizations: Service, Netflix, Business, BBC, New, Daily Telegraph, Getty, Getty Images, REUTERS, Royal Archives, Abbey, Scobie, Pegasus Locations: British, London, Swiss, York, Klosters, Windsor, Balmoral, Buckingham, Scotland, St James's, propping, Duchess of Sussex

McIlroy also said he would be opposed to any form of punishment for players who left the tour for the Saudi riches of LIV Golf and wanted to come back. Obviously, I've changed my tune on that because I see where golf is and I see that having a diminished PGA Tour and having a diminished LIV Tour or anything else is bad for both parties. Pebble Beach has a $20 million purse as a signature event, the same for the individual play of LIV Golf when it begins its third year on Friday in Mexico. Political Cartoons View All 253 ImagesLIV announced Tyrrell Hatton is the latest PGA Tour member to join, having snagged Masters champion Jon Rahm nearly two months ago. But he stays in the loop and indicated the PGA Tour was on the verge of approving a deal with Strategic Sports Group, the private equity consortium.

Persons: — Rory McIlroy, McIlroy, LIV Golf, ” McIlroy, I've, LIV, Tyrrell Hatton, Jon Rahm, Rahm, Dustin Johnson, ”, Hatton, “, “ I've, I’m, “ I’ve, " McIlroy, Jordan Spieth Organizations: LIV, Daily Telegraph, PGA Tour, Saudi, Strategic Sports Group Locations: Calif, Saudi, Mexico, American

Tyrrell Hatton of England made it official Wednesday by joining Saudi-funded LIV Golf, giving the league another player from the top 20 in the world and filling out the new team led by Masters champion Jon Rahm. Hatton had been mentioned as a LIV Golf target ever since the Saudi-funded league signed Rahm in a surprising move toward the end of last year. LIV Golf starts its third year this week at Mayakoba on the Gulf coast of Mexico. Vincent, the brother of LIV Golf player Scott Vincent, earned a spot in the league at the qualifying tournament last year. LIV Golf now has 13 teams, after two years of 12 four-man teams.

Persons: Tyrrell Hatton, England, LIV, Jon Rahm . Hatton, Rahm, Hatton, LIV Golf, XIII, Kieran Vincent of Zimbabwe, Caleb Surratt, Andrews, Vincent, Scott Vincent, ” Rahm, . Hatton, Arnold Palmer, Marco Simone, “ I’m, Jon Rahm, ” Hatton, ___ Organizations: Saudi, LIV Golf, Masters, Ryder, The Daily Telegraph, Rahm's, Tennessee, St, Abu Dhabi, Legion XIII Locations: Saudi, Mayakoba, Mexico, Bay, Europe

☆ Many remote employees have 'no attachment' to their work, and no passion or creativity, the CEO of cosmetics giant L'Oreal says
▼ + stars: | 2024-01-22 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Read previewL'Oreal's CEO had some harsh words for remote workers , saying they lack attachment, passion, or creativity in their roles, during the World Economic Forum in Davos, Switzerland. L'Oreal USA's former CEO Stephane Rinderknech called the company's 11,000 employees back to the office in a staggered process in July 2020. "It's vital for the company, and it's vital for the employees. CEOs have changed their tune on remote work since the pandemic saying that employees are more productive and efficient in the office. AdvertisementNumerous firms including Google, Meta, Starbucks, and JPMorgan have walked back their remote working policies as a result, and are requiring workers to come back to the office .

Persons: —, Nicolas Hieronimus —, Hieronimus, L'Oreal USA's, Stephane Rinderknech, It's Organizations: Service, Economic, Business, Daily Telegraph, L'Oreal, Google, Meta, JPMorgan Locations: Davos, Switzerland, French, California

CNN —The Washington Post’s incoming chief executive and publisher will start the job with a mess on his hands. Workforce tensionsThe Washington Post Guild, the union that represents staffers, has been negotiating with executives on a new contract for a year and a half, but it has yet to reach an agreement. Wages and staff reductions have remained a major sticking point between the two sides, causing dismay among union members with the newspaper’s management. The Post’s management has so far rejected the union’s wage demand and has yet to directly confirm whether remaining staffers’ positions are safe from cuts, the union said. On Thursday, departing staffers were sent an email from management encouraging them to buy official merchandise emblazoned with the Post’s logo.

Persons: William Lewis, Lewis, Sally Buzbee, Patty Stonesifer, Stonesifer, ”, “, Rupert Murdoch’s, Prince Harry, Hugh Grant, —, I’m, Lewis “ Organizations: CNN, Washington, Workforce, Post Guild, Washington Post, News Corp, The Daily Telegraph, Murdoch’s News Corp, Murdoch’s, Post, NPR

If General Atlantic decided to sell its stake, a deal could now garner more interest from investors, the sources said. A deal could value the company, which assesses global oil prices and provides industry news, at north of 4 billion pounds ($5.08 billion), Reuters previously reported. Deliberations remain at an early stage and General Atlantic and Hg may decide not to proceed with a transaction, two of the people said. Argus Media, Hg and General Atlantic declined to comment. Hg bought half of General Atlantic's 50% stake in Argus in 2019, valuing the business at more than 2 billion pounds then.

Persons: Adrian Binks, Amy, Jo Crowley, Victoria Farr, Mark Porter Organizations: Argus Media, Reuters, Private, Investments, Atlantic, Atlantic's, Argus, Astorg, Thomson Locations: GIC, London, Argus, Frankfurt

☆ U.K. Opens Inquiry Into Jeff Zucker’s Emirati-Backed Bid for The Telegraph
▼ + stars: | 2023-11-30 | by ( Michael M. Grynbaum | ) www.nytimes.com time to read: +1 min

Jeff Zucker’s re-entry into the global news business has hit a snag. The announcement capped a week of growing outcry in Westminster over Mr. Zucker’s use of roughly $1 billion in Emirati money to acquire the news organizations, which are hugely influential in British conservative politics. Tories lined up to denounce the proposed deal, warning that the Emiratis’ involvement could lead to undue foreign influence over The Telegraph’s coverage. The review, announced by Britain’s culture secretary, does not necessarily end Mr. Zucker’s chance of success. Since then, Conservative Party eminences have lined up to denounce his bid — often in essays published by newspapers controlled by Mr. Zucker’s rivals — and Tory members of Parliament urged regulators to consider the constraints on press freedoms in the Middle East.

Persons: Jeff Zucker’s, Zucker, Zucker’s, Rupert Murdoch, Lord Rothermere, Murdoch, — Organizations: CNN, The Daily Telegraph, The Spectator, Tories, The Daily, The, Conservative Party Locations: Westminster

☆ Fact Check: The Telegraph video on Body Worlds using Ukrainian military corpses is fake
▼ + stars: | 2023-11-29 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

A video using The Daily Telegraph’s branding, which reports a Body Worlds exhibition was cancelled in London when it was found to be using illegally acquired bodies of Ukrainian soldiers, is fake. Body Worlds exhibitions are the brainchild of German anatomists Gunther von Hagens and his wife Angelina Whalley, and they showcase real human bodies preserved through “plastination”, a preservation process invented by von Hagens in 1977. But Georgia Gomez, the director of development at Body Worlds and von Hagens Plastination, told Reuters in a Nov. 16 email that the claims made about the company were false. Body Worlds exhibitions rely exclusively on body donations to the Institute for Plastination body donation programme and they have never received any body donors from Ukraine. No Body Worlds exhibit is planned or scheduled in London or any other part of Britain and quotes in the video attributed to von Hagens are “completely bogus,” Gomez added.

Persons: anatomists Gunther von Hagens, Angelina Whalley, plastination, von Hagens, ”, Andy King, “, Georgia Gomez, Hagens Plastination, ” Gomez, Gunther von Hagens, Read Organizations: Twitter, Facebook, The Daily Telegraph, British, Heathrow Airport, Reuters, Telegraph, Institute, Ukrainian Center, Office, Border Force, Thomson Locations: London, Ukrainian, Ukraine, Britain

FRANKFURT, Oct 26 (Reuters) - Private equity firm Hg is weighing options, including a sale, for its German software business F24 next year, three sources familiar with the matter told Reuters. Hg is also weighing only selling part of its majority stake in the process, which is likely to target other private equity firms, one of the sources said. Deliberations are at an early stage and sale plans may not materialise if market conditions deteriorate, the sources said. Hg, which has not disclosed the exact size of its stake in F24, declined to comment. Earlier this year, F24 said it would work with telecom operator Telenet to continue to run the Belgian government's BE-Alert warning system for the next six years.

Persons: Emma, Victoria Farr, Anousha Sakoui, Mark Potter Organizations: Reuters, Telenet, Belgian, BE, Thomson Locations: FRANKFURT, Germany, Munich

The deal would value Arriva, which operates red London buses and train services in the UK, at around 1.6 billion euros ($1.68 billion) including debt, the sources said. However, while the deal is nearing final stages, the sources cautioned that the timing could still shift. Deutsche Bahn said in an emailed statement: "We want to sell DB Arriva by the end of 2024. Reuters reported in April that British transport company FirstGroup (FGP.L) and I Squared had been weighing competing bids for parts of Arriva. Its annual sales rose to 4.2 billion euros in 2022, making up 7.5% of Deutsche Bahn's total revenue.

Persons: Andrew Couldridge, Emma, Victoria Farr, Andres Gonzalez, Markus Wacket, Susan Fenton Organizations: Arriva, REUTERS, Squared Capital, Deutsche, Reuters, Financial Times, Deutsche Bahn, DB Arriva, London's, Cross Country, Deutsche Bahn's, Thomson Locations: Harlow , Britain, FRANKFURT, LONDON, Miami

That was until this week, when the company decided to pull its listing in the final hours of Wednesday, blaming market conditions. In the coming weeks, a string of European companies are slated to come to market. Among them is CVC Capital Partners, which is still planning a November listing depending on market conditions, a person with knowledge of the matter told Reuters. However, the fate of Renk highlights the challenges facing new issuers, exacerbated by a recent bout of volatility in equity and debt markets. On Thursday it was trading around its opening IPO price at 30 euros, still above its issue price, a positive sign.

Persons: Andreas Bernstorff, Germany's DAX, Susanne Wiegand, Schott, Perfumery, Douglas, Emma, Victoria Farr, Pablo Mayo Cerqueiro, Alexander Huebner, Anousha Sakoui Organizations: Capital Partners, Reuters, Equity Capital Markets, BNP, Renk, Rheinmetall, Schott Pharma, DKV, CVC Capital Partners, Paris bourse, Thomson Locations: FRANKFURT, LONDON, Frankfurt, U.S, Europe, East, Africa, European, Germany, York, Lincoln

☆ Liverpool VAR: The ‘monumental error’ that put English soccer in crisis mode
▼ + stars: | 2023-10-03 | by ( Aimee Lewis | ) edition.cnn.com time to read: +13 min

Marc Atkins/Getty ImagesAt the heart of this is a failure in communication by match officials and a failure to put pragmatism before protocol. There is an acceptance that mistakes will happen, and there have been plenty already this season in the Premier League. The release of the audio of the conversations between the match officials would likely influence what Liverpool does next. In rugby union, fans can listen to discussions between match officials on crucial decisions, making the process clear and open for all. The immediate consequence has been that VAR officials England and Cook have not been selected to feature in this weekend’s Premier League games.

Persons: wasn’t, ”, Mohamed Salah’s, Luis Díaz, Salah, Darren England, Simon Hooper, Hooper, –, Dan Cook, PGMOL, Curtis Jones, Marc Atkins, VARs –, Jurgen Klopp, “, Alan Shearer, Visionhaus, Neil Atkinson, ’, CNN Sport’s Don Riddell, Klopp, Joel Matip, Justin Setterfield, Stephen Taylor Heath, they’ve, ” Taylor Heath, Taylor Heath, Henry Winter, Howard Webb, PGMOL’s, Díaz, Peter Cziborra, Webb, Cook Organizations: CNN, English Premier League, Liverpool, Tottenham, Premier League, Manchester, Spurs, England, Nottingham Forest, Brentford, Sunday, Fulham, Chelsea, Daily Telegraph, BBC, Anfield, JWM Solicitors, CNN Sport, “, Times, Major League Soccer, PA Media, Sky Sports, International Football Association Board Locations: Liverpool, Colombian, England

☆ Rupert Murdoch has been watching too much 'Succession,' Brian Cox — the actor who played Logan Roy — joked as he weighed in on the media tycoon stepping down
▼ + stars: | 2023-09-25 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Brian Cox spoke with the BBC about his thoughts on Rupert Murdoch stepping back from chair of News Corp.Cox recounted how Murdoch's son-in-law once asked if the "Succession" writers could "be a bit nicer." Cox, who played a character inspired by Murdoch, criticized the tycoon's ability to "manipulate" politics. Murdoch announced last Thursday he was stepping down from running Fox and News Corp, and handing the reins to his eldest son, Lachlan Murdoch. "I think he's been watching too much 'Succession,' clearly," Cox joked of Murdoch's decision, in the BBC interview. "He's probably the most tenacious human on God's earth," Cox said of Murdoch.

Persons: Brian Cox, Rupert Murdoch, Cox, Murdoch's, Murdoch, Lachlan Murdoch, didn't, Jerry Hall, ‘, Logan Roy, Elisabeth Murdoch, Rupert Murdoch's, Tony Blair, David Cameron, Rishi Sunak, He's Organizations: BBC, News Corp, Service, Fox, 9AM, Daily Telegraph, Corp Locations: Wall, Silicon, Scottish

The logo of German chemicals maker Covestro is pictured outside its headquarters in Leverkusen, Germany, July 26, 2019. The sign of change from Covestro's previous stance comes after two top-15 investors of the plastics and chemicals maker told Reuters last month that it should engage in formal takeover talks in the interest of its shareholders. The German group's shares were up 8.6% at 51.96 euros at 1445 GMT, their highest level in about 18 months. In August, ADNOC indicated to Covestro, which has not commented on the takeover approach, that it could raise its informal offer to 60 euros conditional on the German company entering formal talks, Reuters reported at the time. That non-binding offer would value Covestro, a maker of chemicals used in insulation, upholstery foams, coatings and transparent engineering plastics, at about 11.6 billion euros ($12.4 billion).

Persons: Wolfgang Rattay, Abu, ADNOC, Ludwig Burger, Urvi, Elisa Martinuzzi, Jason Neely Organizations: REUTERS, Abu Dhabi National Oil Company, Reuters, Covestro, BASF, Bloomberg News, Thomson Locations: Leverkusen, Germany, Abu Dhabi, Frankfurt, Bengaluru

Private equity firms are looking at Statista ahead of a formal sale process, which is likely to kick off later next year, the sources told Reuters. Only once this transaction is finished will a Statista process begin, they added. Asam sits alongside Statista in Stroeer's data-as-a-service and e-commerce division, which it has signalled as non-core to its advertising business. Statista is viewed as non-core because the rest of Stroeer operates out-of-home advertising, online advertising and billboards across Germany. Stroeer acquired a 78.8% majority stake in Statista in December 2015 for around 57 million euros ($61 million).

Persons: JP Morgan, Friedrich Schwandt, Stroeer, Christian Schmalzl, Asam, Statista, Emma, Victoria Farr, Jo Crowley, John O'Donnell, Alexander Smith, David Evans Organizations: Reuters, NASDAQ, Thomson Locations: FRANKFURT, LONDON, Statista, Stroeer, Germany, Hamburg, Frankfurt, London

The logo of German chemicals maker Covestro is pictured outside its headquarters in Leverkusen, Germany, July 26, 2019. REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsFRANKFURT, Aug 24 (Reuters) - Germany's Covestro (1COV.DE) should engage in formal takeover talks with Abu Dhabi National Oil Co (ADNOC) in the interest of its shareholders, two top-15 investors of the plastics and chemicals maker told Reuters. ADNOC, which is trying to diversify and develop its downstream and renewable energy operations, made a non-binding offer for Covestro of 55 euros per share in June, which was rejected, according to press reports. Rautenberg declined to comment on the price at which he would recommend Covestro accept an offer. Covestro this week appointed Christian Baier as chief financial officer, with Rautenberg noting his past dealmaking experience at private equity firm Permira.

Persons: Wolfgang Rattay, ADNOC, Arne Rautenberg, Covestro, Rautenberg, Christian Baier, Emma, Victoria Farr, Elisa Martinuzzi, Kirsten Donovan Organizations: REUTERS, Rights, Abu, Abu Dhabi National Oil Co, Reuters, Union Investment, Thomson Locations: Leverkusen, Germany, Abu Dhabi

CNN —Russia has barred 54 more British citizens from entering the country, in response to the UK’s sanctions against its citizens and enterprises, according to the Russian Ministry of Foreign Affairs. The sanctions list includes several government ministers as well as journalists from public broadcaster the BBC, the Guardian newspaper and the Daily Telegraph newspaper. “We would like to emphasize again that any efforts by London to further spin the anti-Russian sanctions flywheel will inevitably receive a decisive response from our side,” the Russian ministry said in a statement. Prosecutor of the International Criminal Court Karim Khan. Vanessa Jimenez/Anadolu Agency/Getty ImagesIn February, Khan submitted applications to the ICC for warrants of arrest for Russian President Vladimir Putin and Russian Commissioner for Children’s Rights Maria Lvova-Belova.

Persons: “, Karim Khan, Vanessa Jimenez, Khan, Vladimir Putin, Rights Maria Lvova, Lucy Frazer, Frazer, Goldie Organizations: CNN, Russian Ministry of Foreign Affairs, BBC, Guardian, Daily Telegraph, Criminal, Anadolu Agency, ICC, Russian, Rights, State for Culture, Media, Sport, Olympic, State, British Ministry of Defence Locations: Russia, ”, London, Belarus, Ukraine

A sign of Wanda is pictured at the headquarters of Dalian Wanda Group, in Beijing's Central Business District (CBD), China August 8, 2023. China's largest commercial property group has tapped Deutsche Bank for advice on the sale of Infront Sports & Media, the sources said, adding the process is in the early stages and could take months to complete. Headquartered in Switzerland, Infront's businesses include managing Italy's Serie A and the UK Premier League's international media rights, as well as event operations, media rights distribution and sponsorship sales. It raised $320 million through the partial sale of its entertainment unit Beijing Wanda Cultural Industry to pay it off. Spain's Mediapro, which manages international media rights for LaLiga, restructured 900 million euros in debt a year ago selling shares to investors including the group's majority shareholder Southwind.

Persons: Wanda, Tingshu Wang, China's, Wang Jianlin, Infront, Amy, Jo Crowley, Emma, Victoria Farr, Milana, Andres Gonzalez, Kane Wu, Clare Jim, Elisa Martinuzzi, Sharon Singleton Organizations: Dalian Wanda Group, Beijing's, Business, REUTERS, Reuters, Deutsche Bank, Infront Sports & Media, Serie, Premier League's, South East, Olympic Games, Beijing Wanda Cultural Industry, Infront, Companies, LaLiga, Thomson Locations: China, FRANKFURT, Switzerland, Central, South, South East Asia, Dalian, Beijing, Infront

CNN —Veteran British broadcaster Michael Parkinson has died at the age of 88, his former employer the BBC reported Thursday, citing a statement from his family. “After a brief illness Sir Michael Parkinson passed away peacefully at home last night in the company of his family,” the statement said, according to the BBC. Parkinson interviewed many of the world’s most famous people on his long-running show, which launched in 1971. Michael Parkinson interviewing actress Bette Davis in October 1975. Mirren and Parkinson appeared on another show together in 2008, the TV host told the BBC, and “laughed like two intelligent human beings.”

Persons: Michael Parkinson, Sir Michael Parkinson, Parkinson, Muhammad Ali, John Lennon, Elton John, Nelson Mandela, Judi Dench, Tim Davie, ”, ” “, Michael, ” Davie, Bette Davis, Don Smith, ” Parkinson, Ali, Tony Blair, Victoria Beckham, David, “, Nick Robinson, Stephen Fry, Helen Mirren, Mirren Organizations: CNN — Veteran, BBC, Radio Times, British, Daily Telegraph Locations: CNN — Veteran British, Iraq, Parkinson’s, prat

REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsAug 16 (Reuters) - ArcelorMittal SA (MT.LU), the world's second-largest steelmaker, is considering a potential offer for U.S. Steel Corp (X.N), three people familiar with the matter said on Wednesday. ArcelorMittal is discussing a possible offer with its investment bankers, and there is no certainty that it will press ahead with it, the sources said. Representatives for ArcelorMittal and U.S. Steel did not immediately respond to requests for comment. ArcelorMittal's deliberations come after U.S. Steel said on Sunday it had launched a process to explore interest from potential acquirers. The United Steelworkers union supports Cleveland-Cliffs' bid, however U.S. Steel has rebuffed it as "unreasonable".

Persons: Benoit Tessier, ArcelorMittal, Steel, Greg Roumeliotis, Victoria Farr, Kirsten Donovan Organizations: REUTERS, ArcelorMittal SA, U.S . Steel Corp, U.S . Steel, Cliffs Inc, Esmark Inc, Representatives, ArcelorMittal, Steel, . Steel, The United Steelworkers, Thomson Locations: Dunkirk, France, Cleveland, New York, U.S, China, Europe, Frankfurt

This would boost the oil giant's non-binding bid to about 11.6 billion euros ($12.63 billion), the people said. The indication of a raised offer is, however, not in writing, the people cautioned, adding that Covestro will take time to consider any next steps. ADNOC last raised its informal offer to 57 euros per share in July. Covestro shares jumped about 4.2% in a volume spike after Bloomberg News first reported that ADNOC was prepared to sweeten its offer. Earlier in August, Covestro reported a 21% fall in revenues to 3.7 billion euros in the second quarter.

Persons: Toru Hanai, ADNOC, Covestro, Austria's, Emma, Victoria Farr, Maha El Dahan, Yousef Saba, Tomasz Janowski Organizations: REUTERS, Abu Dhabi National Oil Co, Reuters, Bloomberg News, Thomson Locations: Gastech, Chiba, Japan, FRANKFURT, DUBAI, Abu Dhabi, Frankfurt, Maha, Dubai

☆ An ex-Goldman Sachs exec reportedly said a cut-throat culture led to long hours and burnout. Goldman said if the employee felt pressure, 'it was self-generated.'
▼ + stars: | 2023-07-17 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +4 min

In a statement to Insider, Goldman Sachs called the allegations "completely without merit." In a statement to Insider, Goldman said: "We believe these claims are completely without merit." The high-pressure workplace culture at Goldman Sachs and investment banking in general has been the subject of press coverage and litigation. In 2021, an informal survey that was reportedly sent to Goldman Sachs management from 13 junior bankers describing "inhumane" working conditions at the firm went viral on social media. Last year in the US, Goldman Sachs reportedly settled allegations by a former partner who had alleged a culture of discrimination against women at the firm.

Persons: Goldman Sachs, Ian Dodd, Dodd, Goldman Organizations: Daily Telegraph, Telegraph, Justice, Goldman, Bloomberg Locations: London, COVID

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