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☆ Apple's future product lineup is starting to come into focus
▼ + stars: | 2024-11-14 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Apple is exploring new headsets and smart-home devices to expand its lineup. Its plans don't always work out; it scrapped a car project and faces weak demand for the Vision Pro. The company in February scrapped plans for a car, and its $3,500 Vision Pro has gotten mixed reviews in the months since its release. Bloomberg on Tuesday reported on a wall-mounted smart-home tablet in Apple's production lineup that could operate home appliances, use Apple Intelligence, and access Apple apps. AdvertisementThe report said the project, code-named J490, could come as early as March, a month before new Apple Intelligence features are expected to roll out.

Persons: —, Mark Gurman, Ming, Chi Kuo, Apple's, Gurman, Apple, EMARKETER, Kuo, Meta, William Kerwin, Tim Cook, who's Organizations: Apple, Vision, Service, Bloomberg, Apple Intelligence, Big Tech, Asset Management, Business Locations: Taiwan, Morningstar

☆ Boeing had a tough 24 hours, but with CEO Kelly Ortberg's turnaround plan, analysts remain hopeful
▼ + stars: | 2024-10-24 | by ( Pete Syme | ) www.businessinsider.com time to read: +5 min

CEO Kelly Ortberg has vowed to turn around the company and laid out a four-point plan. CEO Kelly Ortberg vowed to "return Boeing to its former legacy" and said the company would focus on changing its culture. However, restoring the traditional defined-benefit pension plan — replaced with a 401(k) in 2014 negotiations — has been a key issue for many on the picket lines. Bank of America analysts estimated that restoring this pension plan would cost up to $400 million annually. Boeing's production has been limited as it faces supply-chain constraints and renewed scrutiny from regulators in the wake of January's Alaska Airlines blowout.

Persons: Kelly Ortberg, —, Manuel Valdes, William Blair, Peter McNally, China's, McNally, Morningstar's Nicolas Owens, Ortberg Organizations: Boeing, Service, CNBC, Wall Street, Labor, Seattle Times, Bank of America, Anderson Economic Group, AP, Alaska Airlines, Airbus Locations: Seattle, Pacific Northwest

☆ South Carolina to build state's first individual monument honoring an African American
▼ + stars: | 2024-10-23 | by ( The Associated Press | ) www.nbcnews.com time to read: +6 min

“South Carolina is a great state. Or would a more fitting tribute to Smalls be to recognize the statesman who served in the South Carolina House and Senate and the U.S. House after the Civil War? That’s how Republican Rep. Chip Campsen, an occasional ship pilot himself, sees honoring one of his favorite South Carolinians. While South Carolina has a monument with multiple panels honoring the struggle of African Americans from their journey on slave ships through today, it doesn’t honor an individual Black man or women among the two dozen monuments scattered around the Statehouse. I think it is important that we tell that the right way to honor him and to honor south Carolina.

Persons: Robert Smalls isn’t, Smalls, Jermaine Johnson can’t, “, Heck, it’s, ”, Johnson, Brandon Cox, We’ve, ” Cox, Robert Smalls, toots, Woodrow Wilson, Chip Campsen, ” Campsen, J, Marion Sims, ” Ben Tillman, Black, Shane Massey, “ Robert Smalls, Chris Barr, Barr, you’ve, ” Barr Organizations: U.S . House, Rep, Statehouse, Senate, Republican Rep, South Carolina House, Confederate, Union, Republican, Reconstruction, Historic, United States Navy Locations: BEAUFORT, S.C, — South Carolina, American, U.S, Goose, “ South Carolina, South, Beaufort, Carolina, Charleston

☆ When my ex-husband married someone with a similar first name to mine, I finally decided to change my married name
▼ + stars: | 2024-07-04 | by ( Melissa Drake | ) www.businessinsider.com time to read: +4 min

I easily recall the lawyer saying he could change my name as part of the divorce proceedings. While my husband and I didn't choose to remain married, my son and I were still a family. I kept my married name for years until my ex-husband started dating a woman with a very similar name as me. Except to me, going back to that name felt like I was going backward in terms of my life's evolution. But the name change was much bigger than updating my records and getting a new Social Security card.

Persons: nonchalantly, would've, Cher, Prince, Drake Organizations: Service, Business, Social Security

☆ Saudi Arabia is trying to build the largest linear city ever. It's a visionary but flawed concept, urban planners say.
▼ + stars: | 2024-06-02 | by ( Polly Thompson | ) www.businessinsider.com time to read: +7 min

Although recent reports suggest the plans have been scaled back, the 2.4km still due to be built will be the largest linear city in existence if it is completed. The Spanish architect Arturo Soria is widely credited with designing the first linear city, "La Ciudad Lineal," in 1882 on the outskirts of Madrid. "Linear cities are an extreme form of urban dispersal — community development and social cohesion still need centrality," Gold told BI. A linear city may not have this capability," explained Lovgreen. In my opinion, linear city schemes are best left as design exercises for third-year architectural students," Gold said.

Persons: —, Arturo Soria, Le Corbusier, Mikhail Okhitovich, Mona Lovgreen, Lovgreen, Adhya, Bland, I'm, John Gold Organizations: Service, Business, Lawrence Technological University, Ciudad, Oxford Brookes University Locations: Saudi Arabia, Spanish, Madrid, Swiss, French, Magnitogorsk, Neom, Paris, Portland, Saudi, NEOM, Tabuk Province

☆ Opinion | Western Europe Is Starting to Send a Vital Warning to Israel
▼ + stars: | 2024-05-22 | by ( Thomas L. Friedman | ) www.nytimes.com time to read: +1 min

More than 140 countries and the Holy See have recognized the right of Palestinians to have a state in the West Bank, Gaza and East Jerusalem. What is noteworthy about this latest move, though, is that major Western European countries, and the United States, had resisted going there, arguing that peace should be worked out between the two parties. My focus is always on the practical: Will these recognitions of a nonexistent Palestinian state with undefined borders lead to the only sustainable solution — a real-life peace between two states for two indigenous communities — Jews and Palestinians? The answer is yes and no. In the short term, these diplomatic recognitions from fellow democracies will not move the Israeli public, Yohanan Plesner, president of the Israel Democracy Institute, told me.

Persons: Yohanan Plesner, ”, “ Organizations: West, Israel Democracy Institute Locations: Spain, Norway, Ireland, Gaza, West Bank, East Jerusalem, United States, Israel

☆ Saudi Arabia's Neom is looking to fill 262 job vacancies. The roles show just how futuristic the megacity could be.
▼ + stars: | 2024-05-12 | by ( Polly Thompson | ) www.businessinsider.com time to read: +7 min

Saudi Arabia's sprawling megacity, Neom, is billed as a chance to live in the "new future." AdvertisementOfficials say Neom will be a "cognitive city." The chosen candidate will control and operate the fish laboratory, ensuring high standards of fish welfare and supporting surveillance and investigation activities into fish health and disease control. Developers have said they want the island resort Sindalah to act as an "exclusive gateway to the stunning Red Sea." An image showing a nighttime view of mountains in the region in northwest Saudi Arabia where planners say Neom will be built.

Persons: —, Neom, Prince Mohammed bin Salman's, Neom's Organizations: Service, Tech, NEOM Community School Locations: Saudi, Saudi Arabia, Tabuk, Sindalah, Gulf, Aqaba, Neom, Oxagon

☆ Waste-management facilities are using AI to turn trash into recycled treasure
▼ + stars: | 2024-05-09 | by ( Leila Jordan | ) www.businessinsider.com time to read: +7 min

The company's software, installed at waste-management sorting facilities, uses artificial intelligence to identify misplaced materials in waste streams. Greyparrot devices also catalog what enters the facility so that waste-facility managers can better understand what they're collecting. Data is transforming the way waste-management facilities operateSince 2020, the UK waste-management company Grundon has been using Greyparrot devices in three of its facilities. GreyparrotGrundon's feedback also led to updates in the Greyparrot device's capabilities. AI development is also promising a brighter future for waste-management facilities and their perception.

Persons: Steven Cohen, Druckman, Greyparrot, Grundon, Owen George, George, Cohen Organizations: Service, Columbia University, Environmental Protection Agency, Bollegraaf Locations: United Kingdom, South Korea, United States, Grundon

☆ Aden Durde: He first opened doors to the NFL for international players. Now, he’s a historic coordinator
▼ + stars: | 2024-04-24 | by ( Ben Morse | ) edition.cnn.com time to read: +10 min

Just as the offseason kicked off in mid February, Durde was hired to become the Seattle Seahawks’ new defensive coordinator, becoming the first British coordinator in NFL history. Durde’s first exposure to the NFL came in 2005 when – as part of the NFL International Development Practice Squad program, an early predecessor to the IPP – he spent some time on the practice squad of the Carolina Panthers. He spent three seasons as part of the Falcons’ defensive coaching staff, working across a number of roles under head coach Dan Quinn. His permanent hiring in 2018 meant Durde became the first British full-time coach in NFL history. Under Durde’s stewardship, Dallas’ defensive line developed into one of the most feared in the league, in particular star linebacker Micah Parsons.

Persons: Aden Durde, Durde, “, hasn’t, ” Durde, that’s, –, ”, Bill Walsh, Dan Quinn, Carmen Mandato, ” It’s, Efe Obada, Jordan Mailata, Wales rugby international Louis Rees, Zammit, Mailata, Louis, Rees, Jeff Ulbrich, he’s, He’s, Micah Parsons, Parsons, Pro Bowler, Roger Steinman, Mike McDonald –, Dallas, Pete Carroll Organizations: CNN, NFL, Seattle Seahawks, American, Atlanta Falcons, CNN Sport, London Olympians, Scottish, Hamburg, Devils, Carolina Panthers, Kansas City Chiefs, London Warriors, Dallas Cowboys, Brit Osi, IPP, Washington, Philadelphia Eagles ’, Wales rugby international, Eagles, ”, Falcons, Atlanta Journal, Cowboys, Dallas, Seahawks, Durde Locations: Aden, British, London, Britain, Greenwich, NFL Europe, Hamburg’s, Europe, Atlanta, Texas, Durde’s, Dallas, Seattle

☆ How the Columbia disaster changed the future of spaceflight
▼ + stars: | 2024-04-13 | by ( Jackie Wattles | ) edition.cnn.com time to read: +9 min

The CNN Original Series “Space Shuttle Columbia: The Final Flight” uncovers the events that ultimately led to disaster. The tragedy killed seven astronauts as the Columbia shuttle disintegrated upon its return to Earth on February 1, 2003, due to damage the vehicle sustained during launch. Changes at NASA were necessary, according to a formal investigation about the Columbia disaster published six months after the accident. Cultural changes: ‘Safety days,’ review boards and round tablesColumbia marked the second deadly mishap for the shuttle program after the space shuttle Challenger exploded during launch in January 1986. Following the Columbia disaster, NASA grounded its remaining fleet of three shuttles as the space agency sought to parse what went wrong.

Persons: ”, “, ” Wayne Hale, Rick D, Evelyn Husband, Bill Readdy, Bruce Weaver, Hale, ” Hale, Garrett Reisman, ” Reisman, Ilan Ramon, Reisman, —, NASA didn’t, SpaceX’s, Kevin Dietsch Organizations: CNN, Shuttle Columbia, Sunday, Columbia, SpaceX, NASA, Space Shuttle Columbia, Kennedy Space Center, Getty, Endeavour, Atlantis, International Space, Elon, Boeing, Columbia —, Challenger, International Space Station, Vigilance, ” Locations: Russia, AFP, California, Israel, Columbia

☆ Leaked memo: Broadcom leaders address KKR's plans to acquire VMware's End-User Computing unit for $4 billion
▼ + stars: | 2024-02-26 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +8 min

KKR announced on Monday that it entered into a definitive agreement to acquire the End-User Computing division from Broadcom for about $4 billion. Broadcom acquired VMware in November, and it had been reviewing strategic alternatives for EUC, BI previously reported. In addition, he said employees should help customers complete their renewals as many customers have expired renewals. Prior to the acquisition by Broadcom, VMware employees had already been speculating the EUC business, as well as the Carbon Black cybersecurity business, would be spun out, BI previously reported. Help customers complete their renewals and add on orders.

Persons: EUC, Shankar Iyer, Iyer, Robert Ruelas, Ruelas, Shankar Organizations: Broadcom, VMware, KKR, Business Insider, Reuters, Business, Iyer, EUC, Revenue Locations: Vegas

Despite his death, Kyrkach-Antonenko found some new meaning, hope and purpose with the birth of their child. The Ukrainian parliament passed legislation in February to allow and fund the use of soldiers’ frozen sperm in case of their death. Once President Volodymyr Zelensky signs the bill into law, it will for the first time allow the widows of Ukrainian soldiers to use their dead partners’ reproductive cells – both sperm and eggs - to have children. It will also enable wounded soldiers to use their preserved reproductive cells to have children where their injuries would normally make that impossible. The possible injury to soldiers’ reproductive organs and trauma affecting the quality of sperm make cryopreservation of reproductive cells worthwhile, she told CNN, mentioning allegations of castration.

Persons: Natalia Kyrkach, Vitalii, Vitalina, Antonenko, “, Volodymyr Zelensky, Antonenko Vitalii, Olena Shulyak, ”, It’s, Iryna, ” Feskova, Feskova, ‘, it’s, There’s, cryopreservation, Putin, Vitalina –, he’s Organizations: CNN, Ukrainian Armed Forces, Russia, Ukraine’s Armed Forces, Center Locations: Russia, Donetsk, Kharkiv, Ukraine, Ukrainian

☆ North Korea Leader's Sister Says Japan PM's Comments Positive - KCNA
▼ + stars: | 2024-02-15 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

SEOUL (Reuters) - The influential sister of North Korean leader Kim Jong Un said there is no impediment to closer ties with Japan and there may come a day Japanese Prime Minister Fumio Kishida visits Pyongyang, state news agency KCNA said on Thursday. Kishida, whose nation has no formal diplomatic ties with Pyongyang, has said he was exploring possibilities to meet North Korea's leader to resolve the matter of Japanese civilians abducted in the 1970s and 1980s. Kim Yo Jong, a deputy department director in the ruling Workers' Party, said Kishida's comments could be considered positive if meant to advance relations. Japan has been critical of North Korea's pursuit of ballistic missiles and nuclear weapons, often drawing harsh rebukes from Pyongyang, especially as Tokyo stepped up its security alliance with South Korea and the United States. Kim is widely considered the closest confidant and adviser to her brother on external policy matters.

Persons: Kim Jong Un, Fumio Kishida, KCNA, Kishida, Kim Yo Jong, Kim, Jack Kim, Andrew Cawthorne Organizations: North, Workers ' Party Locations: SEOUL, Japan, Pyongyang, Tokyo, South Korea, United States

☆ UK's Cameron Says He Raised Palestinian State With Netanyahu
▼ + stars: | 2024-02-02 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +2 min

BEIRUT (Reuters) - British Foreign Secretary David Cameron said he told Israeli Prime Minister Benjamin Netanyahu to "start talking about the things a Palestinian state can be rather than the things it can't be", reiterating British support for a two-state solution. In an interview with Lebanese broadcaster LBCI aired on Friday, Cameron said part of British policy is to say there will be a time when Britain would look to recognise a Palestinian state, including at the United Nations. Netanyahu has voiced opposition to Palestinian sovereignty, saying he will not compromise on full Israeli security control west of Jordan and that this stands contrary to a Palestinian state. "My message to him was start talking about the things that a Palestinian state could be rather than the things it can't be. Cameron last month said Palestinians in the West Bank and Gaza Strip must be given "the political perspective of a credible route to a Palestinian state and a new future" and this should be irreversible.

Persons: David Cameron, Benjamin Netanyahu, LBCI, Cameron, Netanyahu, Tom Perry, William Maclean Organizations: British, Israeli, United Nations, West Bank, Lebanese Locations: BEIRUT, Palestinian, Gaza, United States, Britain, Jordan, Israel, Lebanon, U.S, Egypt, Qatar

☆ How to use AI as a career tool to get a promotion at work faster
▼ + stars: | 2024-01-24 | by ( Rachel Curry | ) www.cnbc.com time to read: +5 min

According to a McKinsey report from 2022 based on a decade of data, role transitions are inherent in labor markets. The generative AI platform dubs itself a "tutor for learners" and an "assistant for teachers." Meanwhile, nonprofit organization All Star Code had a scholar visualize themselves progressing in their tech career over the next decade by creating a 30-second video using generative AI platform Runway. There lies the ultimate caveat in AI-enabled career transitions. Panetta feels like the human role in hiring — regardless of the qualifications of candidates — will play a potentially bigger role in career transitions.

Persons: Yee, Lareina Yee, Karen Panetta, That's, Panetta, Sal Khan, Bill Gates, Khan, —, Bias, doesn't Organizations: McKinsey, Strategic, Institute of Electrical, Electronics Engineering, Tufts School of Engineering, Khan Academy, OpenAI Locations: America

☆ I'm the former Microsoft VP of HR. Here's what executive leadership really thinks about at the end of the year — and why layoffs are so common in Q1
▼ + stars: | 2023-12-26 | by ( Chris Williams | ) www.businessinsider.com time to read: +7 min

Time for a performance reviewFor many in the lower layers of the company, the end of the year marks the arrival of performance reviews. In the C-Suite, performance reviews fall differently. The implementation of performance reviews at the highest levels is hampered by the compensation models up there. AdvertisementSo in the C-Suite, the performance reviews are still difficult, but rarely so personal. While you are worrying over your pending performance review, the C-Suite is worried about theirs too.

Persons: Chris Williams, Williams, —, I've, it's Organizations: Microsoft, Service

William Cahill, 30William Cahill, an associate director at Aventuur. AventuurCahill was on a rowing trip on the Zambezi River in Zambia surrounded by crocodiles and hippos when he met his future boss. Cahill followed suit, leaving behind a job touching on mergers and acquisitions and data and analytics at the management-consulting firm L.E.K. Aventuur's parks allow paying customers to surf in wave pools with artificial beachfronts dotted by amenities such as restaurants and beach clubs. The systems Cahill creates make him indispensable to the growing recreational-real-estate sector.

Persons: William Cahill, Aventuur Cahill, Nicholas Edelman regaled, Cahill, Aventuur, — Zoe Rosenberg Organizations: Deutsche Bank, L.E.K, Consulting Locations: Zambia, London, Australia, New Zealand, North America, Dallas, Phoenix, Las Vegas, Jacksonville , Florida, Los Angeles, South Africa

☆ OpenAI ditched the only 2 women on its board. So far, it's replacing them with men.
▼ + stars: | 2023-11-22 | by ( Tom Carter | ) www.businessinsider.com time to read: +5 min

OpenAI announced a new male-dominated board after Sam Altman won the battle to return as CEO. 'Please, more representation and balance'The departure of Toner and McCauley has put the makeup of OpenAI's new board in the spotlight. Emily Bell, a founding director of the Tow Center for Digital Journalism, wrote in a post on X : "OpenAI fires women on the board — board chair who oversaw fuck up stays." Tom Williams/Getty ImagesOne of OpenAI's main rivals also weighed in on the lack of diversity on the new board. Within the private sector, research from Crunchbase in 2022 showed that women held 16% of board seats among more than 660 companies they analyzed.

Persons: OpenAI, Sam Altman, Helen Toner, Tasha McCauley, Adam D'Angelo, —, Sam Altman's, Bret Taylor —, Larry Summers, D'Angelo, Ilya Sutskever, Altman, Toner, McCauley, Emily Bell, Summers, Jeffrey Epstein, Bell, Tom Williams, Bret, Taylor, Emad Mostaque, Vinod Khosla, OpenAI's, Angela Hoover, Andi Organizations: Service, Microsoft, Tow Center, Digital Journalism, Deloitte, Alliance for Board Diversity, Fortune, New York Times Locations: Crunchbase, San Francisco

☆ Take a look inside the new Raffles hotel in London
▼ + stars: | 2023-11-08 | by ( Karen Gilchrist | Marylou Costa | ) www.cnbc.com time to read: +8 min

Fiona Harris Communications director, Raffles London"It's the magic combination: the building, the location and the name, Raffles," Fiona Harris, Raffles London's communications director, told CNBC Travel. All in, the hotel houses 120 suites and rooms, including five heritage suites in the former offices of political and military leaders, and eight corner suites named after notable women and female spies. Raffles London is home to 120 rooms and suites, including eight corner suites named after notable women and female spies. Saison, run by Argentine Michelin star chef Mauro Colagreco, is one of nine restaurants and three bars at Raffles London. London's new luxury waveA stay at Raffles London is not without a significant price tag.

Persons: Winston Churchill's, Fiona Harris, Sir Stamford, Henry VIII, Ian Fleming's James Bond, Churchill, David Lloyd George, Lord Kitchener, Harris, Winston Churchill, Thierry Despont, Raffles, Argentina's Mauro Colagreco, sipping, Mauro Colagreco, James Bond, Ian Fleming, It's, Christine Granville, Gopichand Hinduja —, —, Hinduja Organizations: Raffles, Downing, Fiona Harris Communications, CNBC Travel, Sir Stamford Raffles, Hinduja, Ministry of Defense, British Army, Architects, British Secret Service, CNBC, Suite, Liberty, Michelin, Raffles London, Guards, London Sling, Argentine Michelin, Ministry, Hyde Park, Royal British Legion, British Armed Forces Locations: Whitehall, London, Raffles London, British, Singapore, India, Argentine, U.S, China, Granville, Hyde, Rosewood, Claridge's, The Emory

LAHAINA, Hawaii (AP) — For people around the world, the green leaves that sprouted from a scorched, 150-year-old banyan tree in the heart of devastated Lahaina symbolized hope following Maui’s deadly wildfire this summer. Before colonialism, commercial agriculture and tourism, thousands of breadfruit trees dotted Lahaina; the fire charred all but two of the dozen or so that remained. By contrast, researchers believe breadfruit and kukui nut — now the state tree of Hawaii — were among the many edible plants Polynesian voyagers brought around 1,000 years ago. Efforts to revive the banyan and other important surviving trees have included trucking in water, applying compost extract and testing soil. But replanting breadfruit in urban areas comes with challenges, said Steve Nimz, an arborist on Oahu who has been helping restore Lahaina’s trees.

Persons: landscapers, ”, Noa Kekuewa Lincoln, King Kamehameha, ulu, ” Kekona, Lahaina’s, replanting, Steve Nimz, “, Hokuao Pellegrino, ” Pellegrino, replant, Pellegrino, he's, reintegrating breadfruit, ___ Komenda Organizations: University of Hawaii, Development Locations: LAHAINA, Hawaii, Lahaina, ulu, Maui, Manoa, U.S, India, Lele, Hilo, Lincoln, Oahu, Waikapu, West Maui, “, Tacoma , Washington

☆ Labour Party Conference: Meet Keir Starmer, Britain's likely next Prime Minister
▼ + stars: | 2023-10-10 | by ( Luke Mcgee | ) edition.cnn.com time to read: +10 min

At least that’s how it felt in Liverpool, where the opposition Labour Party held its annual conference this week. In front of a packed hall, Labour leader Keir Starmer gave an upbeat speech painting the ruling Conservatives as the party of national decline and Labour as the party of stability. A protestor throws glitter over Labour party leader, Keir Starmer during the leader's speech at the Labour Party conference on October 10, 2023 in Liverpool, England. Shadow chancellor Rachel Reeves makes her keynote speech during the Labour Party Conference in Liverpool on October 9, 2023. The story Labour is telling right now isn’t just the story of Keir Starmer, leader in waiting, but Keir Starmer and his political allies, who are the government in waiting.

Persons: Keir Starmer, “, Ian Forsyth, wilder, Jeremy Corbyn, –, Corbyn’s, Starmer, Corbyn, Boris Johnson’s “, Liz, ”, Queen Elizabeth II, David Lammy, Lammy, he’d, Johnson, Rachel Reeves, Peter Byrne, Jeremy Hunt’s, won’t, Trump, Labour – Organizations: Liverpool CNN, Labour Party, Labour, Conservative, Conservative Party’s, CNN, Conservative Party, Northern, Conservatives ’, Government, University of Leeds, Oxford, Cambridge, Public Prosecutions, Labour Party Conference, Corbyn, Biden, Conservatives Locations: Liverpool, Manchester, England, Corbyn, Israel, Britain, America, Germany, Labour’s

☆ Toshiba says $14 bln takeover bid by JIP succeeds, set to go private
▼ + stars: | 2023-09-21 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +3 min

TOKYO, Sept 21 (Reuters) - Toshiba (6502.T) said on Thursday that a $14 billion tender offer from private equity firm Japan Industrial Partners (JIP) had ended in success - a deal which paves the way for the embattled industrial conglomerate to go private. "Activist shareholders and Toshiba were stuck with each other for years. Toshiba in March accepted the buyout offer valuing the industrial conglomerate at 2 trillion yen ($13.5 billion). Although some shareholders were unhappy with the price, Toshiba argued that there was no prospect of a higher offer or competing bid. Deals involving private equity have been particularly active, including a planned $6.4 billion buyout of materials maker JSR by a government-backed fund.

Persons: Travis Lundy, Taro Shimada, Androniki, Shimada, Lundy, JIP, Sony Group's, chipmaker Rohm, Makiko Yamazaki, Edwina Gibbs Organizations: Toshiba, Japan Industrial Partners, Quiddity Advisors, Toshiba Corporation, REUTERS, Sony, Chubu Electric Power, Thomson Locations: TOKYO, Kawasaki, Japan, Asia

☆ Toshiba says $14 bln takeover bid by JIP has succeeded
▼ + stars: | 2023-09-21 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +2 min

The logo of Toshiba Corporation is displayed at the company's building in Kawasaki, Japan, April 5, 2023. The deal puts the electronics-to-power stations maker in domestic hands after years of battles with overseas activist shareholders. Toshiba in March accepted the buyout offer valuing the industrial conglomerate at 2 trillion yen ($13.5 billion). Although some shareholders were unhappy with the price offered, Toshiba argued that there was no prospect of a higher offer or competing bid. Although not well known overseas, JIP has been involved in corporate carve outs and spin offs from Japanese conglomerates, including Olympus' (7733.T) camera business and Sony Group's (6758.T) laptop computer business.

Persons: Androniki, Taro Shimada, JIP, Sony Group's, Shimada, chipmaker Rohm, Makiko Yamazaki, Christopher Cushing, Edwina Gibbs Organizations: Toshiba Corporation, REUTERS, Rights, Toshiba, Japan Industrial Partners, Olympus, Sony, Chubu Electric Power, Thomson Locations: Kawasaki, Japan

☆ Toshiba is set to delist in Japan after 74 years as part of $14 billion deal
▼ + stars: | 2023-09-21 | by ( ) edition.cnn.com time to read: +3 min

Tokyo Reuters —Toshiba said on Thursday that a $14 billion tender offer from private equity firm Japan Industrial Partners (JIP) had ended in success — a deal which paves the way for the embattled industrial conglomerate to go private. The deal puts the 148-year-old electronics-to-power stations maker in domestic hands after years of battles with overseas activist investors. Toshiba in March accepted the buyout offer valuing the industrial conglomerate at 2 trillion yen ($13.5 billion). Although some shareholders were unhappy with the price, Toshiba argued that there was no prospect of a higher offer or competing bid. It will mark the largest M&A deal in Japan this year.

Persons: —, ”, Travis Lundy, Taro Shimada, Toshiba “, Shimada, “, ” Lundy, JIP, chipmaker Rohm Organizations: Tokyo Reuters, Toshiba, Japan Industrial Partners, “, Quiddity Advisors, ” Toshiba, Sony, Chubu Electric Power Locations: Tokyo, Orix, Japan, Asia

☆ Toshiba wins shareholder support for JIP's $14 bln takeover offer
▼ + stars: | 2023-09-20 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +1 min

The logo of Toshiba Corporation is displayed at the company's building in Kawasaki, Japan, April 5, 2023. REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsTOKYO, Sept 21 (Reuters) - A consortium led by private equity firm Japan Industrial Partners (JIP) gained 78.65% of Toshiba (6502.T) through a tender offer, Toshiba said, coming a step closer to completing a $14 billion deal to take the company private. Toshiba is now set to be delisted as early as December, ending its 74-year history as a listed firm. Toshiba "will now take a major step toward a new future with a new shareholder". Since 2015, Toshiba has been battered by accounting scandals, suffered heavy loss and came close to being delisted.

Persons: Androniki, JIP, chipmaker Rohm, Taro Shimada, Makiko Yamazaki, Kim Coghill, Christopher Cushing Organizations: Toshiba Corporation, REUTERS, Rights, Japan Industrial Partners, Toshiba, Thomson Locations: Kawasaki, Japan

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