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☆ Meet the entrepreneur who's now the 2nd-richest person in Britain and is worth about $37 billion
▼ + stars: | 2023-05-20 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: 1 min

Ratcliffe was knighted in 2018, making him Sir Jim, but reportedly moved to Monaco in 2020, which does not levy personal or capital gains tax. He declined to confirm the move but told the BBC he tried to "give back to the UK" and had invested billions in the country. John Greim/LightRocket/Getty ImagesSource: BBC

☆ Hillary Clinton: Durham interviewed former Secretary of State on alleged plan to tie Trump to Russia, found no 'provable criminal offense'
▼ + stars: | 2023-05-15 | by ( Evan Perez | ) edition.cnn.com time to read: +2 min

The special counsel was looking into whether any crimes occurred in the handling of an uncorroborated piece of US intelligence indicating Russia knew of a Clinton campaign plan to vilify her opponent, Trump, by tying him to the country. During the Trump administration, Director of National Intelligence John Ratcliffe released some of Brennan’s notes about the intelligence used in his briefing of former President Barack Obama. Ratcliffe publicly said that the intelligence community never corroborated the Russian claims of a “Clinton Plan” to frame Trump, and didn’t know whether it was fabricated. In her interview with Durham’s investigators, Clinton expressed sympathy for Durham’s hunt. Durham concludes that it would be impossible to prosecute anyone for their handling of the intelligence.

☆ Rishi Sunak’s party just took a pounding in UK local elections. The road to recovery is steep
▼ + stars: | 2023-05-05 | by ( Luke Mcgee | ) edition.cnn.com time to read: +8 min

And they made grim viewing for a man hoping to lead his Conservative Party back to power in just over a year’s time at the next UK general election. With nearly three-quarters of results declared by late afternoon on Friday, the Conservatives had shed 35 local authorities and more than 600 councilors. Prime Minister Rishi Sunak's Conservative Party suffered a drubbing at local elections. They are downplaying the local elections and pointing out that Labour would still need a swing bigger than Tony Blair achieved in 1997 to win a majority of just one seat. The Conservative Party has developed a taste for regicide since 2016.

☆ Bankrupt Bed Bath & Beyond Seeks Millions From Ocean Carriers
▼ + stars: | 2023-05-02 | by ( Paul Berger | ) www.wsj.com time to read: 1 min

The Orient Overseas Container Line’s Hong Kong container ship sits anchored dockside in Felixstowe, U.K. Photo: Chris Ratcliffe/Bloomberg NewsBankrupt retailer Bed Bath & Beyond is seeking tens of millions of dollars from container shipping lines, claiming the carriers willfully abandoned service commitments at the height of supply-chain turbulence to reap enormous profits from the market turmoil. The home-goods retailer says in a complaint filed with U.S. maritime regulators that Hong Kong-based Orient Overseas Container Line pursued “brazen price gouging and profiteering” that cost Bed Bath & Beyond $31.7 million in extra freight charges, along with additional costs and lost profits.

☆ BP Experiences the Downside of High Expectations
▼ + stars: | 2023-05-02 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

Energy companies are adjusting to lower demand for the commodities they sell. Photo: Chris Ratcliffe/Bloomberg NewsA bad reaction to BP ’s latest results suggests that shareholders’ expectations haven’t come back down to earth as quickly as energy prices. On Tuesday, the London-listed company said it made underlying earnings of $4.96 billion for the first three months of the year. This was lower than the $6.25 billion BP managed over the same period of 2022, but 16% higher than analysts were forecasting. The better-than-expected result was mainly due to the company’s oil-and-gas trading division, which tends to do well when commodity prices are volatile.

☆ Ineos's bid values Manchester United at more than 5 billion pounds, the Times reports
▼ + stars: | 2023-04-29 | by ( ) www.reuters.com time to read: 1 min

April 29 (Reuters) - Jim Ratcliffe's Ineos has outbid a Qatari group led by Sheikh Jassim bin Hamad al-Thani in the battle to buy Manchester United (MANU.N), The Times reported on Saturday, citing sources. Ineos is the only bidder to have valued the club higher than 5 billion pounds ($6.29 billion), the report added. ($1 = 0.7954 pounds)(This story has been corrected to fix the bid value in the headline and tense in paragraph 1)Reporting by Rahat Sandhu in Bengaluru; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ Coronation travel guide: Transport advice, London hotels and where to watch
▼ + stars: | 2023-04-28 | by ( Julia Buckley | ) edition.cnn.com time to read: +16 min

Take the Conrad London St. James, for example, which sits between the Mall and Westminster Abbey. Most of the roads around Westminster Abbey and St. James’s Park Underground station will be blocked off. How to see the coronationCharles and Camilla will ride in the Diamond Jubilee State Coach to Westminster Abbey for the ceremony. Niklas Halle'n/AFP/Getty ImagesThe coronation itself will take place on the morning of Saturday May 6 at Westminster Abbey. Royal Windsor Racecourse, near Windsor Castle, and on the bank of the River Thames, is having a race night to celebrate the day’s public holiday.

Charles’ coronation is expected to be shorter than his mother’s seven decades ago. The spot where King Charles will be crowned inside Westminster Abbey Dan Kitwood/Getty ImagesWhat happens during the coronation service? Which crown will King Charles use? How is King Charles making the ceremony more inclusive? Don’t missThe coronation of King Charles III brings pageantry, revelry, and new questions – is the monarchy relevant in the modern world?

☆ Here’s How Supply Chains Are Being Reshaped for a New Era of Global Trade
▼ + stars: | 2023-04-26 | by ( Paul Page | ) www.wsj.com time to read: 1 min

A robot moves products manufactured by Nestlé at a distribution warehouse operated by GXO Logistics near Derby, England. Photo: Chris Ratcliffe/Bloomberg NewsWhen a measure of strains on global supply chains fell earlier this year to levels last seen before the Covid-19 pandemic, it signaled to some that the product shortages, port bottlenecks and shipping disruptions of the past three years were over and that a new era of stability was on the horizon. But industry experts say a “return to normal,” as the Federal Reserve Bank of New York described its Global Supply Chain Pressure Index in February, hardly means that companies are going back to conventional, some would say complacent, supply chains.

☆ Supply Chains Have Changed Forever
▼ + stars: | 2023-04-24 | by ( Paul Page | ) www.wsj.com time to read: 1 min

☆ Daughter of U.S. citizen jailed by Iran says she has lost confidence in US efforts
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: +2 min

MADRID, April 22 (Reuters) - The daughter of an environmentalist imprisoned by Iran said on Saturday she had lost confidence in U.S. President Joe Biden's efforts to free her father. Morad Tahbaz, an Iranian-American who also holds British citizenship, has served five years of a 10-year sentence after being convicted of spying. In July his lawyer was quoted as saying he had been granted bail, but his daughter said he was now back in jail. The United States has urged Iran to release Tahbaz and two other citizens, Emad Shargi and Siamak Namazi, who are all imprisoned on espionage charges that Washington says are baseless. Namazi, an oil executive, was jailed for 10 years in 2016 on charges of spying and cooperating with the U.S. government.

☆ U.K. Inflation Stays Above 10%, Raising Prospect of Further Interest-Rate Increases
▼ + stars: | 2023-04-19 | by ( Paul Hannon | ) www.wsj.com time to read: 1 min

Higher prices for energy, food and other goods and services have weakened household spending in the U.K. Photo: Chris Ratcliffe/Bloomberg NewsLONDON—The U.K.’s annual rate of inflation was higher than expected in March and remained in double digits, a level of persistent price increases that could mean further hikes in interest rates in the coming months despite a weak economy. March consumer prices were 10.1% higher than a year earlier, a decline in the inflation rate from 10.4% in February, the U.K.’s statistics agency said Wednesday. That rate was higher than expected, with economists having forecast a drop to 9.8%. The core rate of inflation, which excludes volatile items such as energy and food, was unchanged at 6.2%.

☆ Instagram lands 'body blow' to link-in-bio startups by letting users add up to 5 links to their profiles
▼ + stars: | 2023-04-19 | by ( Sydney Bradley | Marta Biino | ) www.businessinsider.com time to read: +3 min

Instagram announced users will be able to add up to five links to their bios. All accounts will have the ability to add multiple links, including business and creator accounts. Mark Zuckerberg announced on Tuesday that Meta would now let users add up to five links to an account's bio. Until now, Instagram has limited users to one link — which has helped foster a robust industry of third-party link-in-bio solutions such as Linktree. All accounts will have the ability to add multiple links, including business and creator accounts.

☆ Carlyle in talks to take stake in Manchester United - Sky News
▼ + stars: | 2023-04-15 | by ( ) www.reuters.com time to read: +1 min

[1/2] A general view of the lobby outside the Carlyle Group offices in Washington, May 3, 2012. REUTERS/Jonathan Ernst/File PhotoApril 15 (Reuters) - U.S. buyout firm Carlyle Group Inc (CG.O) is in talks about a "major" investment in Manchester United soccer club as the auction of the Premier League team enters its final stages, Sky News reported on Saturday. Carlyle and Manchester United did not immediately respond to a Reuters request for comment. Sports industry news site Sportico reported earlier this month that Manchester United would accept a third round of bids from prospective buyers at the end of April. The Glazers bought Manchester United in 2005 for 790 million pounds in a highly leveraged deal that has been criticised for loading debt on to the club.

☆ Finnish businessman Zilliacus drops out of Manchester United bidding
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +1 min

April 13 (Reuters) - Finnish businessman Thomas Zilliacus has dropped out of the bidding for Manchester United, saying delays in the sale process will make it difficult for a new owner to build a winning team. United's American owners, the Glazer family, launched a formal sale process late last year, with several bids received in February and March. read more"I have declined participation in a third bidding round for United," Zilliacus said on social media. "The delays will make it very difficult for any new owner to build a winning team for next season." Sports industry news site Sportico reported this week that Manchester United would accept a third round of bids from prospective buyers at the end of the month.

☆ Man Utd to accept third round bids ahead of potential sale - report
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +1 min

April 11 (Reuters) - Manchester United will accept a third round of bids from prospective buyers at the end of the month as the Premier League club's owners explore a sale, sports industry news site Sportico reported on Tuesday. Manchester United and Raine Group, the investment bank running the bidding process, did not immediately respond to a Reuters request for comment. United's American owners, the Glazer family, launched a formal sale process late last year, with several bids received in February and March. Any sale would likely exceed the biggest sports deal so far, the $5.2 billion including debt and investments paid for Chelsea. Reporting by Aadi Nair in Bengaluru; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ Inflation's inventory gluts are here to stay and will hit the bottom line in weaker economy: CNBC Supply Chain Survey
▼ + stars: | 2023-04-05 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

But uncertainty about inventory management is significant, with almost one-quarter (23%) of supply chain managers saying they are not sure when gluts will be worked off. The supply chain pressures will be among the factors that weigh on quarterly numbers. Manufacturing orders and the economic outlook Recent data on manufacturing has shown a deterioration in the economy, with the ISM Manufacturing index in contraction level based on March data released this week. "This survey confirms that we remain in an era of serious supply chain cost-to-serve challenges," Baxa said. FreightWaves and ITS Logistics are CNBC Supply Chain Heat Map data providers.

☆ Manchester United back in the black ahead of potential sale
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

March 30 (Reuters) - Manchester United (MANU.N) swung to a second-quarter net profit on the back of higher commercial revenue and lower wages, the club said on Thursday. Net profit came in at 6.3 million pounds ($7.78 million) in the three months to Dec. 31, against a 1.4 million pound loss a year earlier. United said ticket sales for the current 2022/23 season have surpassed the record set in 2016/17, hitting a cumulative 2.3 million tickets sold. Prices for adult season ticket renewals have been increased by about 5% for next season, the club said. Short-term borrowing at the end of last year jumped 95% to 206.2 million pounds, the club said.

☆ Meet Jim Ratcliffe, the chemicals tycoon worth $11 billion and lifelong Manchester United fan who wants to buy the soccer club
▼ + stars: | 2023-03-25 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: 1 min

☆ ‍Soccer-Qatar's Al Thani submits new $6 bln bid for Manchester United - Sky News
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +1 min

March 25 (Reuters) - Sheikh Jassim bin Hamad Al Thani has submitted a new bid to buy Manchester United which is believed to be worth around 5 billion pounds ($6.12 billion), Sky News reported on Saturday. Sheikh Jassim, a son of Qatar’s former prime minister, launched the bid in February. A spokesperson representing Sheikh Jassim said at the time that the bid was completely debt free, via Sheikh Jassim's Nine Two Foundation. Finnish entrepreneur Thomas Zilliacus also placed a bid on Thursday and told Reuters that he was willing to pay a premium for the English soccer club. United are the fourth richest soccer club in the world, according to analysis by Deloitte .

☆ Soccer-Qatar's Al Thani submits new $6 billion bid for Manchester United, Sky Sports News reports
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +2 min

March 25 (Reuters) - Sheikh Jassim bin Hamad Al Thani has submitted a new bid to buy Manchester United which is believed to be worth around 5 billion pounds ($6.12 billion), Sky Sports News reported on Saturday. Sheikh Jassim, a son of Qatar’s former prime minister, launched the bid in February. A spokesperson representing Sheikh Jassim said at the time that the bid was completely debt free, via Sheikh Jassim's Nine Two Foundation. Finnish entrepreneur Thomas Zilliacus also placed a bid on Thursday and told Reuters that he was willing to pay a premium for the English soccer club. United are the fourth richest soccer club in the world, according to analysis by Deloitte .

☆ Trump's ex-chief of staff Mark Meadows and other top aides must provide more testimony for January 6 investigation, judge rules
▼ + stars: | 2023-03-24 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +3 min

Mark Meadows and other Trump aides were ordered to offer more testimony to a grand jury investigating January 6. A federal judge dismissed Trump's claims of executive privilege in a sealed order last week. Some of them had appeared before the grand jury but declined to answer certain questions about their interactions with Trump, ABC reported. His legal team is expected to appeal Howell's order compelling his aides' testimony, according to ABC. Corcoran was previously ordered to provide more testimony for the investigation after a federal judge rejected his claims of attorney-client privilege.

☆ Judge declines Trump's bid to stop ex-aides from testifying before grand jury in Jan. 6 probe
▼ + stars: | 2023-03-24 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

President Donald Trump is seen on a screen speaking to supporters during a rally to contest the certification of the 2020 U.S. presidential election results by the U.S. Congress, in Washington, January 6, 2021. A federal judge ordered ex-President Donald Trump's former aides, including his ex-chief of staff Mark Meadows, to testify before a grand jury in Washington, D.C., investigating Trump's efforts to overturn his 2020 election loss ahead of the Jan. 6 Capitol riot, NBC News reported Friday. In a sealed order, U.S. District Judge Beryl Howell ruled against Trump's bid to block his aides from speaking to the grand jury on the grounds of executive privilege, people familiar with the matter told NBC. Trump is expected to appeal the ruling, which was filed in secret because it involves grand jury matters, according to NBC. Trump is also facing a legal threat in Georgia, where a Fulton County grand jury is investigating efforts by him and his allies to interfere in the 2020 election in that state.

☆ Bitcoin at $100,000? Insiders say the cryptocurrency could test new highs this year
▼ + stars: | 2023-03-23 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

In this article BTC.BS=-USSBTC.CB=BTC.CM= Follow your favorite stocks CREATE FREE ACCOUNTCryptocurrency industry insiders predict bitcoin could hit a new all-time high in 2023 and possibly reach $100,000. Bitcoin previously hit its all-time high of $68,990.90 in November 2021. related investing news How crypto prices may react to the latest Fed decision Marshall Beard, chief strategy officer at U.S.-headquartered cryptocurrency exchange Gemini, said $100,000 could be a possibility for bitcoin. "I think bitcoin probably breaks all-time highs this year," Beard said, adding that the $100,000 price figure is an "interesting number." Paolo Ardoino, chief technology officer at stablecoin issuer Tether, said bitcoin could "retest" its all-time high near $69,000.

☆ Ratcliffe won't pay 'stupid' price for Man Utd
▼ + stars: | 2023-03-21 | by ( ) www.reuters.com time to read: +1 min

March 21 (Reuters) - British billionaire Jim Ratcliffe has said he does not want to pay a "stupid" price for Manchester United ahead of Wednesday's deadline for second offers for the Premier League club. Ratcliffe, a life-long United fan and founder of chemicals producer INEOS, put in a bid for the club in February. In an interview with the Wall Street Journal, Ratcliffe described the club as a "community asset" rather than a financial one. "What you don't want to do is pay stupid prices for things because then you regret it subsequently." According to a Sky Sports report, United are set to receive more than five bids before Wednesday's deadline for second offers.

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