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X, formerly known as Twitter, sued Atlas Exploration in San Francisco Superior Court on Thursday in a complaint alleging breach of contract. X has faced an array of legal actions over unpaid rent and other invoices following Musk's $44 billion buyout last October. In one case, the owner of X's main office at 1355 Market Street in San Francisco sued X for more than $3.1 million in unpaid rent. Britain's Crown Estate, which manages the property portfolio belonging to the monarchy, in January filed claims against X over alleged unpaid rent on its London headquarters. The case is X Corp v Atlas Exploration Inc, San Francisco Superior Court, No.

Persons: Carlos Barria, Elon, X, Atlas, Kevin Hill, Hill, Jonathan Hawk, Mike Scarcella, Leigh Jones, Chris Reese Organizations: REUTERS, Elon Musk's X Corp, San, Twitter, Atlas Exploration, San Francisco Superior Court, Inc, X, X Corp, Exploration Inc, San Francisco Superior, Thomson Locations: San Francisco , California, U.S, San Francisco, San Francisco's, Britain's, London

☆ King Charles III to receive bumper pay rise after a shake-up of the British royal family’s finances
▼ + stars: | 2023-07-21 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

LONDON — The amount of money given to the British royal family by the U.K. government is projected to "increase significantly" in the coming years, according to the latest review of the annual Sovereign Grant. Despite the percentage cut, an unexpected surge in profits means the royal family is poised to receive more money than in previous years. The portfolio is worth a total of £16 billion ($20.5 billion), according to the crown estate, and generated "substantial additional income" from the offshore wind facilities owned by the royal family. The sovereign grant, which is based on profits generated two years before the financial year in question, was worth £86.3 million this year — unchanged from the year before. At the new 12% formula, this means the monarchy could receive £124.8 million in 2025 to 2026 and £126 million the following year.

Persons: Sovereign Grant Organizations: Sovereign, Treasury

☆ British royal family's public cash formula changed amid surging windfarm profits
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +2 min

Andrew Milligan/Pool via REUTERSLONDON, July 20 (Reuters) - The British government said on Thursday it would cut the proportion of funds going to the royal family from the Crown Estate next year, after King Charles said he wanted bumper windfarm profits to go to the "wider public good". The Sovereign Grant, which last year was worth 86.3 million pounds ($111 million), is typically based on 15% of Crown Estate profits but has been temporarily increased to 25% to pay for extensive refurbishment work at Buckingham Palace. However, new deals for offshore wind farms struck in January are expected to see Crown Estate profits surge by 900 million pound a year, and Charles had indicated he wanted this extra money to go the wider good. On Thursday, the Treasury said the Sovereign Grant next year would be cut to 12% of Crown Estates' profits, meaning it will remain at 86.3 million pounds but will be 24 million pounds less than if the rate had not changed. ($1 = 0.7747 pounds)Reporting by Sarah Young and Michael Holden; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

Persons: King Charles, Andrew Milligan, Grant, Sovereign Grant, Charles, Jeremy Hunt, Sarah Young, Michael Holden, Kate Holton Organizations: Scottish Borders, REUTERS LONDON, Treasury, Sovereign, Estates, Thomson Locations: Selkirk, Scottish, Scotland, Britain, Holyrood, Buckingham

☆ Australian firm sues Twitter for $665,000 for not paying bills
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, July 3 (Reuters) - An Australian project management firm has filed a lawsuit against Twitter Inc in a U.S. court seeking cumulative payments of about A$1 million ($665,000) over alleged non-payment of bills for work done in four countries, court filings showed. The Australian firm's lawsuit is the latest alleging non-payment of bills and rent against Twitter since Elon Musk bought the social media platform for $44 billion last year. For those works, Twitter owed the company about 203,000 pounds, S$546,600 and A$61,300, respectively, Facilitate said. In May, a former public relations firm filed a suit in a New York court saying Twitter had not paid its bills, while early this year U.S.-based advisory firm Innisfree M&A Inc sued it, seeking about $1.9 million for what it said were unpaid bills after it advised Twitter on its acquisition by Musk. ($1 = 1.5038 Australian dollars)Reporting by Renju Jose in Sydney; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Elon Musk, Twitter, Innisfree, Musk, Renju Jose, Sonali Paul Organizations: SYDNEY, Twitter Inc, Corp, United States, Court, Northern, Twitter, Elon, X Corp, Inc, Thomson Locations: Australian, U.S, Sydney, California, London, Dublin, Singapore, Australia, New York

☆ Twitter is facing a $700,000 lawsuit over unpaid bills for work including clearing out its Australian office and fitting-out its Singapore location
▼ + stars: | 2023-07-03 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

An Australian project management company is suing Twitter for around $700,000 of unpaid bills. That includes work fitting-out Twitter's Singapore office, and clearing out its Australian one. Twitter is facing another lawsuit accusing it of not paying bills — including for work clearing out the company's Australian office. That's a week before its first round of mass layoffs affected the Singapore office, Insider previously reported. The London office has already been involved in another lawsuit, as the landlord — King Charles III's Crown Estate — accused Twitter of failing to pay rent.

Persons: Elon Musk's, —, Elon Musk, That's, Musk, Kali Hays, — King Charles III's, Twitter Organizations: Twitter, Morning, Northern District of, Reuters, Elon, Sydney Morning Herald, Musk's, Denver Business Locations: Australian, Singapore, Northern District, Northern District of California, Australia, London, Dublin, Boulder , Colorado, Denver

☆ Britain’s royal finances boosted by record wind profits
▼ + stars: | 2023-06-28 | by ( Susanna Twidale | ) www.reuters.com time to read: +2 min

LONDON, June 29 (Reuters) - Britain’s Crown Estate, which manages King Charles' public property, posted a record profit last year boosted by income from offshore wind leases. The Crown Estate, which comprises tracts of land and most of Britain’s sea bed, is an independently-run, commercial business, whose profits go to the Treasury. Crown Estate said option fees across all six projects were approximately 1 billion pounds per year, payable to the Crown Estate for a minimum of 3 years and up to ten years. Dan Labbad chief executive of the Crown Estate said he was unable to give more detail on how the profits would be spent. It is typically based on 15% of the profits of the Crown Estate but has been temporarily increased to 25% to pay for extensive refurbishment at Buckingham Palace.

Persons: King Charles, Germany's RWE, Dan Labbad, Grant, Sovereign Grant, Susanna Twidale, Barbara Lewis Organizations: Treasury, Crown, Sovereign, Thomson Locations: Buckingham

☆ Inflation hits royal finances as King Charles turns down heating to save emissions
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +3 min

LONDON, June 29 (Reuters) - Soaring inflation has hit the finances of the British royals, pushing up expenditure, Buckingham Palace said on Thursday, as it revealed King Charles had ordered the heating in royal homes to be turned down to cut emissions. The report said 1.6 million pounds ($2 million) had been spent by the royals on the queen's funeral and related events. The British government said in May it had cost an estimated 162 million pounds overall, which includes the cost of policing and security. He said gas and heating emissions had fallen 19%, partly driven by the king having the thermostats turned down, and a 43% decrease in travel emissions. "The royals have long hidden their true cost, which we have worked out to be at least 345 million pounds.

Persons: Buckingham, King Charles, Sovereign Grant, Michael Stevens, Queen Elizabeth's, Stevens, Charles, Prince William, Graham Smith, Prince Harry, Meghan, Prince Andrew's, Michael Holden, Rosalba O'Brien Organizations: Sovereign, Thomson Locations: England, Wales, Duchy, Cornwall, Windsor, Royal Lodge

☆ King Charles is handing back the keys to one of his many homes because he no longer has time to visit, report says
▼ + stars: | 2023-06-04 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

King Charles is giving up the lease on a cottage in Wales, The Telegraph reported. Since becoming king, Charles was renting the property which is owned by the Duchy of Cornwall. When he was the Prince of Wales, Charles oversaw a vast property empire owned by the Duchy of Cornwall, which his son William now controls. King Charles's home in Llwynywermod, Wales. William planned to stay in hotels to support the local economy when visiting Wales so didn't need a similar base there, representatives for the Prince of Wales told the newspaper.

Persons: King Charles, Charles, —, he's, King, Prince of Wales, William, King Charles's, Chris Jackson, Prince, Wales, didn't Organizations: The Telegraph, Service, Telegraph, Guardian, Windsor Castle, Wales Locations: Wales, Duchy, Cornwall, Llwynywermod, Windsor

CNN —It’s all systems go for Prince William’s Earthshot Prize lately. Now we’re hearing about a new partnership between the Prince of Wales’ initiative and online video platform YouTube. But away from the glitzy awards ceremony, some have wondered about the real-world impact of innovation prizes like Prince William’s. “Not only because of Prince William but the full Earthshot team that is there in order to support all the finalists. And I think it’s incredibly helpful to share some of the challenges that we have found along the way.”In recent weeks, Prince William even dropped by Notpla’s headquarters in northeast London.

Persons: CNN —, Prince William’s Earthshot, Prince, Prince William’s, William, Prince Philip, King Charles III ., Wales, Alex Bramall, Charles, Prince of Wales, King, Rodrigo Garcia Gonzalez, Gonzalez, Pierre Paslier, ” Gonzalez, “, Notpla’s, ” William, Jonathan Brady, Prince William, “ It’s, Kin Cheung, William “, David Attenborough, Annie Randall, King Charles, ”, couldn’t, Buckingham, Duke, “ He’s Organizations: CNN’s Royal, CNN, London, Imperial College London, Windsor, Getty Locations: Singapore, Wales, Kensington, Boston, United Kingdom, London, Cornwall, It’s

☆ As cost of living crisis bites, some Brits are questioning spending money on glitzy coronation As cost of living crisis bites, some Brits are questioning spending money on glitzy coronation
▼ + stars: | 2023-05-02 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +18 min

The church operates the cafe alongside a food bank which offers free food, clothes, household items and other necessities to locals who are struggling. When it first opened before the pandemic, the food bank was serving mostly homeless people. Liz Coopey, left, a volunteer at the Given Freely Freely Given food bank in Doncaster, helps local resident Angela Davis with her shopping bags. The Given Freely Freely Given food bank in Doncaster offers its clients other items than just food, including household goods and clothing. Liz Coopey, one of the volunteers there, said she understands the idea of having to rely on a food bank might be scary to many.

LONDON, May 1 (Reuters) - After waiting longer than any British heir to become monarch, King Charles has quietly settled into his new role with little of the drama some commentators had expected, but with family divisions and some fundamental issues still looming. "I think we are all quite surprised at how well King Charles has begun," royal author Tina Brown told Reuters. Charles does not enjoy same support as his widely admired mother, but his public approval ratings are generally positive. For Charles, the most prominent issue remains the ongoing conflict with his younger son Prince Harry. "I think the public are thinking we've kind of heard all that, but normal life continues."

[1/2] Hywind Tampen floating wind farm structures are being assembled at the Wergeland Base in Gulen, Norway, June 7, 2022. But by 2035, the LCOE for floating wind is expected to fall to about 60 euros/MWh. It plans to set a specific target for floating wind this year. Britain aims to have 5 GW of floating wind installed by 2030 but a report by the UK Floating Wind Offshore Wind Taskforce, said 34 GW could be installed by 2040 if ports were upgraded. "South Korea will be commercial the quickest," said Cole at Corio Generation, which has 1.5 GW of floating wind under development there.

☆ King Charles has a personal fortune of almost $750 million — hundreds of millions more than the late Queen, report says
▼ + stars: | 2023-04-16 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

King Charles has a personal fortune worth nearly $750 million, The Sunday Times reported. Analysis by the London newspaper found he is worth about $285 million more than the late Queen. It generated £23 million ($28.5 million) in profits last year and £212 million ($263 million) in the decade to 2022. He is likely to be ahead of David and Victoria Beckham, who were worth £380 million ($472 million) in last year's ranking, and Sir Elton John, who was worth £395 million ($490 million). As King, Charles is now in control of the Crown Estate, worth about £15.6 billion ($19.4 billion).

☆ Twitter went down because an employee accidentally deleted data, and there was nobody left on the team responsible due to Elon Musk's cuts, report says
▼ + stars: | 2023-02-10 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

On Wednesday, Twitter users were faced with the errant warning: "You are over the daily limit for sending tweets." And the team responsible for the service had all left the company in November, per Platformer. In a private message seen by Insider's Kali Hays, one Twitter employee described it as "a massive outage." Since Musk took over the company, employee numbers have fallen more than two-thirds, from over 7,000 to around 2,300, per the billionaire himself. After Wednesday's outage, Musk emailed Twitter staff telling them to "pause new feature development" in order to ensure "system stability and robustness," Fortune first reported.

☆ Advisory firm Innisfree sues Twitter for $1.9 million in unpaid bills
▼ + stars: | 2023-02-04 | by ( ) www.reuters.com time to read: +1 min

[1/2] The Twitter logo is seen outside the offices in New York City, U.S., November 9, 2022. REUTERS/Brendan McDermidFeb 4 (Reuters) - U.S.-based advisory firm Innisfree M&A Incorporated sued Twitter on Friday in New York State Supreme Court, seeking about $1.9 million for what it says are unpaid bills after it advised the social media company on its acquisition by Elon Musk last year. Twitter and a lawyer for Innisfree did not immediately respond to request for comment. Advertising spending on Twitter Inc dropped by 71% in December, data from an advertising research firm showed, as top advertisers slashed their spending on the social-media platform after Musk's takeover. Twitter made its first interest payment on a loan that banks provided to help finance Musk's purchase of the social media company last year, Reuters reported last month.

☆ Twitter hit back at a private jet company suing it over an $197,000 unpaid bill, saying it was overcharged for 2 flights that weren't properly authorized
▼ + stars: | 2023-02-01 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Private Jet Services filed a lawsuit against Twitter over an unpaid bill of nearly $200,000 last December. On Tuesday, Twitter said that the jet company overcharged it and the flights were unauthorized. It also frequently referred in the documents to being billed $194,000 by Private Jet Services, but did not explain the discrepancy in figures. Twitter says that it believes the jet company breached this agreement over "designated representatives," and as such the lawsuit should be dismissed. Private Jet Services and Twitter did not immediately respond to requests for comment from Insider.

☆ Twitter faces lawsuits over unpaid rent for U.S. HQ, U.K. office
▼ + stars: | 2023-01-24 | by ( Associated Press | ) www.nbcnews.com time to read: +3 min

Twitter is facing a lawsuit over allegations it failed to pay rent for its head office, according to California court documents. The owner of its premises in central London, meanwhile, said it’s taking the company to court over rental debt. Twitter has already been taken to court this month for falling behind on rent at another San Francisco office. The company, Sri Nine Market Square LLC, said Twitter “breached the Lease by failing to pay monthly rent and additional rent” for January amounting to $3.4 million. After using those funds, the landlord says Twitter still owes $3.16 million in unpaid rent and is seeking late fees and interest plus attorneys’ fees.

Power giant Orsted aims to build a huge offshore windfarm to help the country meet renewable goals. Last year the North Sea Transition Authority (NSTA), which regulates offshore energy activity, concluded that large crossovers between such ventures were unfeasible with current technology. This largely unreported clash risks undermining Britain's drive to meet its climate goals, according to the companies involved and a North Sea green transition expert. The BP-Orsted showdown could also presage similar disputes elsewhere in an increasingly crowded North Sea, the experts told Reuters. There is hope on the horizon for wind and CCS projects that share ground, say regulators and industry experts.

☆ King Charles III's $19 billion real estate firm is taking legal action against Elon Musk's Twitter over unpaid rent
▼ + stars: | 2023-01-24 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Twitter faces legal action from the Crown Estate, which manages properties owned by King Charles III. Insider understands that the estate has begun legal proceedings against Twitter over its London offices. King Charles is the ultimately owner of the estate, though has little day-to-day involvement. In December 2022, The New York Times reported that Twitter hadn't paid rent on any of its offices for weeks. The Crown Estate manages $19.2 billion worth of properties including 241 in central London, according to its most recent annual report.

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☆ Crown Estate sues Twitter over alleged rent arrears for UK HQ
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +1 min

LONDON, Jan 23 (Reuters) - Britain's Crown Estate, an independent commercial business that manages the property portfolio belonging to the monarchy, said on Monday it had begun court proceedings against Twitter over alleged unpaid rent on its London headquarters. Court lists showed the case against Twitter had been filed at the High Court in London last week. In a statement, the Crown Estate, which owns some of the most expensive land in central London, said the action related to "rental arrears" on the social media platform's office space in the British capital. In London, the office was left deserted and any evidence that Twitter had once occupied the building were erased. Reporting by Michael Holden and Chavi Mehta; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

☆ UK's Crown Estate to lease seabed sites for six offshore wind projects
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +2 min

LONDON, Jan 19 (Reuters) - Britain's Crown Estate will lease sites for six offshore wind projects capable of generating enough green electricity to power more than seven million homes by 2030 under agreements announced on Thursday. The Crown Estate, which oversees the British monarch's public holdings, manages the seabed around England, Wales and Northern Ireland and awards seabed rights for the development of offshore wind, wave and tidal energy. Germany's RWE (RWEG.DE) said it was one of the companies that had signed a lease agreement with the Crown Estate. Gus Jaspert, managing director in charge of marine at the Crown Estate, said the deal "marks a significant milestone for the UK on the road to net zero". The offshore wind market has grown to become the largest source of renewable electricity in the UK, the Crown Estate said, currently able to power approximately 40% of UK homes.

☆ King Charles to give back profit from $1 bln-a-year wind farm deal
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +3 min

[1/2] Britain's King Charles speaks during a visit at the Aboyne and Mid Deeside Community Shed in Aboyne, Scotland, Britain, January 12, 2023. REUTERS/Russell Cheyne/File PhotoLONDON, Jan 19 (Reuters) - King Charles told the British government he would like an expected surge in profit from a 900 million pound ($1.1 billion)-a-year wind farm deal for his Crown Estate to go to the "wider public good" rather than to the royal family. Under agreements announced on Thursday, the Crown Estate will lease sites for six new offshore wind projects that are capable of generating enough green electricity to power more than seven million homes by 2030. It is based on 15% of surplus revenue from the Crown Estate - a property portfolio belonging to the monarchy. Sharing the wind farm windfall would happen through "an appropriate reduction" in the proportion of the Crown Estate surplus that funds the Sovereign Grant.

☆ King Charles' III property empire includes 7 McDonald's, a Victoria's Secret, and an Apple store
▼ + stars: | 2022-12-23 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

The Crown Estate owns properties worth $17.6 billion, including farmland and seabeds. It also owns retail parks with stores including McDonald's, Starbucks, KFC, and Victoria's Secret. The Crown Estate, which generates profits for the UK Treasury, is owned by the reigning monarch and control was passed down from Queen Elizabeth II to King Charles III upon her death in September. Lingerie and sex-toy shop Ann Summers also has a store at the Westgate shopping mall in Oxford, as does Victoria's Secret. Regent Street in central London, which is owned by the Crown Estate.

☆ Britain's new PM is almost a billionaire — with a net worth twice that of King Charles
▼ + stars: | 2022-10-28 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

Rishi Sunak and his wife Akshata Murty have an estimated combined wealth of £730 million ($800 million). Dan Kitwood | Getty Images News | Getty ImagesLONDON — Britain's new Prime Minister Rishi Sunak made history as the country's first leader of color and its youngest in recent centuries, taking office aged just 42. He also breaks the record for being the wealthiest-ever occupant of Downing Street — with a fortune estimated to exceed that of King Charles III. A net worth of $844 millionTogether, the couple has an estimated fortune of £730 million ($844 million), according to the Sunday Times Rich List. King Charles III welcomes Rishi Sunak during an audience at Buckingham Palace, London, where he invited the newly elected leader of the Conservative Party to become Prime Minister and form a new government.

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