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☆ Taylor Swift's economic clout has now come for Europe
▼ + stars: | 2024-06-23 | by ( Katie Balevic | Lauren Edmonds | ) www.businessinsider.com time to read: +4 min

Over the last year, Swift's Eras Tour and its affiliated film cemented her economic prowess in the United States, injecting billions into the economy. AdvertisementLocal businesses are seeing Swift's impact weeks ahead of her concerts. Jo Hale/Getty ImagesEuropean economists monitoring inflation rates in the service sector are examining Swift's tour to see what impact it will have on Europe's economy. Barclays' Consumer Spend research found that Swift's tour is expected to boost the UK economy by £997 million ($1.26 billion). Economist George Moran told the Times, however, that he thinks it's unlikely Swift will impact decision-making at the Bank of England.

Persons: —, Taylor, Swift, Taylor Swift's, Ben Julius, Julius, Taylor Swift, Jo Hale, Lucas Krishan, Krishan, Kevin Mazur, George Moran, Moran, Nomura Organizations: Service, Business, Tourist Italy, Wembley, Getty, European Central Bank, Barclays, Consumer, New York Times, Securities, Rights, Bank of England, Times Locations: Europe, United States, Italy, Milan, London, Central, Paris, France

☆ Apple has nabbed a key ad exec from NBCUniversal, and it points to its growing TV ad ambitions
▼ + stars: | 2024-03-08 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Apple has been making a string of advertising hires, more signs of its ambitions to grow its TV ad business. Crawford helped lead Apple's Major League Soccer ad sales pitch with Todd Teresi, who leads Apple's ads division. Cady will also likely work closely with Lauren Fry, a TV and video ad sales veteran Apple hired in February 2023 as head of video ad sales. Jacqueline Bleazey, who joined video advertising sales in October, from senior director of sponsorships and ad sales at FanDuel and ad agency roles before that, according to her LinkedIn. For advertisers, Apple TV+ is a small but highly-rated player that would let them reach an affluent viewing audience that has been off-limits to them.

Persons: Joseph Cady, Cady, Krishan Bhatia, Winston Crawford, Crawford, Todd Teresi, Lauren Fry, Jason Brum, Chandler Taylor, Jacqueline Bleazey, Ted Lasso, It's, Apple Organizations: Apple, Amazon, Google, Business, Major League Soccer, MLS, MLB, DirecTV, NBCUniversal, Cannes, Netflix Locations: Peacock

☆ Belgium toasts its beer riches with new visitor centre
▼ + stars: | 2023-09-07 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +2 min

[1/5] An inside view of the Belgian Beer World, the world's largest interactive experience center about beer, that opened in the renovated stock exchange building "La Bourse/De Beurs", in Brussels, Belgium September 7, 2023. REUTERS/Yves Herman Acquire Licensing RightsBRUSSELS, Sept 7 (Reuters) - Belgium is promoting its centuries of beer-making and 430 breweries with a new visitor centre in Brussels that recounts the history of Belgian production and aims to show what is unique about the country's beer and beer culture. Belgian Beer World will open on Saturday in the neoclassical former Brussels Stock Exchange, renovated at a cost of 90 million euros ($96.25 million). Visitors will learn about "Belgitude" - Belgian identity - and what distinguishes Belgian beer from others - such as the four different fermentation methods and the culture of each beer having its own branded glass. Belgium produces some 1,600 beers and its beer culture secured a place on the UNESCO global list of traditions worthy of preservation in 2016.

Persons: Yves Herman Acquire, Krishan Maudgal, Mayor Philippe Close, Philip Blenkinsop, Frances Kerry Organizations: Belgian Beer, REUTERS, Rights, Brussels Stock Exchange, Belgian Brewers, UNESCO, Mayor, Thomson Locations: Brussels, Belgium, Rights BRUSSELS, Belgian, Dublin, Amsterdam

[1/2] A view shows packets of snacks on the shelves inside a Haldiram's restaurant in Mumbai, India, September 6, 2023. Tata Consumer shares surged and closed nearly 4% higher in Mumbai trade after Reuters reported news of the talks. The potential acquisition represents an exciting opportunity for Tata, the person said, adding: "Tata (Consumer) is seen as a tea company. A spokesperson for Tata Consumer Products said it "does not comment on market speculation". The $10 billion valuation sought by Haldiram's for the deal translates to 6.6 times its annual revenue of $1.5 billion, sources said.

Persons: Sriram, Tata, Mukesh Ambani's, Tetley, Haldiram's, Krishan Kumar Chutani, Bain, Ankur Bisen, Manohar Lal Agrawal, Aditya Kalra, Chris Thomas, Edwina Gibbs, Alexandra Hudson Organizations: REUTERS, India Tata, Tata, Pepsi, Bain Capital, Tata Consumer Products, Starbucks, Tata Consumer, Reuters, Haldiram's, Euromonitor International, Tata Group, CNBC TV18, Bikaji Foods, Alexandra Hudson Our, Thomson Locations: Mumbai, India, MUMBAI, DELHI, Singapore, United States, Bikaji

☆ Teva to pay $225 million fine and divest cholesterol drug to settle price-fixing charges
▼ + stars: | 2023-08-21 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —Teva Pharmaceuticals agreed to pay more than $200 million in fines and divest a key generic drug treating cholesterol to settle price-fixing charges from the US Department of Justice, the agency announced Monday. The core drug involved and that will be divested to a third party was pravastatin, a widely used cholesterol medication. Teva’s rival Glenmark will also pay a $30 million criminal penalty to be paid in six installments, the company said. In a statement, Teva said it will pay $225 million over the course of five years. As part of the agreement, Teva admitted to participating in the three conspiracies, the DOJ said.

Persons: Glenmark, Sanjeev Krishan, “, Teva, ”, Jonathan Kanter, ” Teva Organizations: New, New York CNN, Teva Pharmaceuticals, US Department of Justice, DOJ, “ Companies Locations: New York

☆ At least five killed in Hindu-Muslim clashes in India's Haryana state
▼ + stars: | 2023-08-01 | by ( Sakshi Dayal | ) www.reuters.com time to read: +2 min

NEW DELHI, Aug 1 (Reuters) - At least five people, including two police personnel, were killed in clashes between Hindus and Muslims in India's Haryana state, neighbouring capital New Delhi, on Monday, police officials told Reuters. The violence erupted when a Hindu religious procession passed through the Muslim dominated Nuh region, located around 50 kilometres away from New Delhi. He said two of the dead were members of the home guard, a voluntary force that helps police control civil disturbances. Another 10 police personnel were injured in the clashes, he added. "The guilty will not be spared at any cost, strictest action will be taken against them," he said.

Persons: Krishan Kumar, Manohar Lal Khattar, Sakshi Dayal, Simon Cameron, Moore Organizations: Reuters, Gurgaon Police, Twitter, Thomson Locations: DELHI, India's Haryana, New Delhi, Nuh, Gurugram, Gurgaon, Haryana

☆ High inflation fails to boost most UK companies' profits
▼ + stars: | 2023-05-30 | by ( David Milliken | ) www.reuters.com time to read: +2 min

LONDON, May 30 (Reuters) - Britain's highest inflation in four decades failed to boost company profits last year, with the exception of oil and gas extractors who benefited from a surge in energy prices, official figures showed on Tuesday. Subsequently, rises in food prices and wages have added to inflation pressures. Margins fell sharply to 12.7% in the final quarter of 2022, however, as oil and gas prices dropped. "Net operating surplus in UK continental shelf companies is strongly related to oil and gas prices," the ONS said. Britain's government has levied a 25% windfall tax on energy profits since May 2022, which it forecast in March would raise 25.9 billion pounds ($32.7 billion) between 2022 and 2028.

☆ Twitter's new CEO Linda Yaccarino held intense SoulCycle sessions with her favorite employees in a former role, new report says
▼ + stars: | 2023-05-15 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

Elon Musk announced Friday that Linda Yaccarino will take on the role of CEO of Twitter. One source said she would invite favored staffers to do intense SoulCycle workouts as a form of bonding. Twitter's new CEO Linda Yaccarino reportedly organized SoulCycle workout sessions with favorite employees in a previous role, Fortune reported Sunday. One unnamed source told Fortune that Yaccarino can play favorites and would invite chosen employees to intense SoulCycle spinning sessions. There's now speculation as to whether other NBCUniversal employees will follow Yaccarino to Twitter.

The departure of ads chief Linda Yaccarino to Twitter has thrown NBCU into chaos. The exit comes on the heels of the departure of NBCU CEO Jeff Shell after sexual harassment allegations. One advertising executive who works closely with NBCUniversal described the situation inside the company as a "Cuban missile crisis." NBCU does have a deep bench of ad executive talent that's highly regarded in the ad industry. Although Yaccarino's departure from NBCUniversal to Twitter was a surprise, she had been close with the company and its billionaire owner.

☆ TympaHealth, a startup making hearing tests more accessible, just raised $23 million with this 27-slide pitch deck
▼ + stars: | 2023-04-28 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +2 min

TympaHealth has raised $23 million from Octopus Ventures for its hearing assessment platform. The London-based startup aims to make hearing diagnostic tests more accessible outside of hospitals. A startup that enables clinicians to perform hearing assessments outside of hospital settings has raised $23 million in fresh funds. TympaHealth founder and CEO Dr Krishan Ramdoo said the goal of the company was to make hearing and ear care more accessible. Despite this, waiting times for hearing services can stretch from 12 to 16 weeks given increasing pressures on the National Health Service's hearing care services, Ramdoo added.

☆ Indian truckers say Hindenburg report was a godsend in Adani dispute
▼ + stars: | 2023-02-23 | by ( ) www.cnbc.com time to read: +1 min

Signage for the Adani Group in Mumbai, India on Feb. 9, 2023. Adani stocks fell, ending a two-day rally, after MSCI said it was reviewing the amount of shares linked to the group that were freely tradable in public markets. For truckers transporting cement from Adani's factories in a hilly north Indian state, a U.S. short-seller's critical research report on the giant conglomerate was a godsend they say helped them save their livelihoods. Truckers rejoiced, with a union leader in a street address labelling it as a victory after late-night talks with Adani. The settlement comes four weeks after U.S.-based Hindenburg Research accused Adani of stock manipulation and improper use of tax havens, allegations the group called baseless.

Adani argued the plants were "unviable" at the trucking rates it wanted to slash by around half. Truckers rejoiced, with a union leader in a street address labelling it as a victory after late-night talks with Adani. After the Hindenburg report, Congress has renewed its claims that Modi for years has unduly favoured Adani. The Adani group wanted freight rates to be lowered to around 6 rupees ($0.0725) per tonne per km, from around 11 rupees. "The Hindenburg report was a gift that saved our businesses."

☆ Central banks bought the most gold since 1967 last year, WGC says
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Central banks bought 1,136 tonnes of gold in 2022Emerging economies were main buyersPurchases predicted to fall next yearTotal global gold demand highest since 2011LONDON, Jan 31 (Reuters) - Central banks added a whopping 1,136 tonnes of gold worth some $70 billion to their stockpiles in 2022, by far the most of any year since 1967, the World Gold Council (WGC) said on Tuesday. Gold also enables central banks to diversify away from assets like U.S. Treasuries and the dollar. Charting the change in global central bank gold holdings since 1950. But around two-thirds of the gold bought by central banks last year was not reported publicly, the WGC said. The central bank purchases took total gold global gold demand last year to 4,741 tonnes, up 18% from 2021 and the highest for any year since 2011.

☆ Gold prices are surging as investors bet on slower Fed rate hikes
▼ + stars: | 2023-01-11 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Gold is shining once again, as investors bet that cooling inflation in the United States will slow the pace of Fed rate hikes and make the precious metal more attractive. Gold prices slumped in April last year as the US Federal Reserve started to hike interest rates in a bid to tame runaway inflation. But the market is increasingly expecting the Fed to temper US rate hikes as consumer prices increases slow, boosting demand for gold. During the coronavirus pandemic in August 2020, gold prices hit an all-time high of £2,072. That could make gold more appealing now that yields and the dollar are less of a negative factor,” he told CNN.

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