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Activist Commentary: Starboard is a very successful activist investor and has extensive experience helping companies focus on operational efficiency and margin improvement. Additionally, Starboard has extensive experience helping portfolio companies improve margins from a board level and adding one or two of their nominees to the board could expedite this. CEO Issue: Alight's CEO Stephan Scholl is a talented technologist and software expert, but not an experienced operator of a benefits administration company. Like the experienced activist Starboard is, the firm wanted to preserve its options as it speaks privately with Alight. Shareholders would certainly benefit from the addition of two or three Starboard directors to the board.
Persons: Keith D, Dorsey, Matthew C, Levin, Gavin T, Molinelli, Foley Trasimene, William P, Foley, Stephan Scholl, William Foley, Coretha, Denise Williams, Ken Squire Organizations: ExCo, CR Consulting Alliance, FIS, 13D Locations: Boyden, SPACs
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoldman Sachs' Stephan Feldgoise on 2024 M&A landscape: Private equity is 'the big barometer'Stephan Feldgoise, Goldman Sachs co-head of global M&A, joins 'Squawk Box' to discuss the M&A market, why he believes dealmaking has stabilized and is set up for a recovery, 2024 outlook, and more.
Persons: Goldman Sachs, Stephan Feldgoise, dealmaking
AdvertisementThe drama playing out within the upper ranks of Goldman Sachs is continuing to unfold, and CEO David Solomon's troubles with senior partners don't appear to be over yet. (Garcia's co-head of European investment banking, Anthony Gutman, is also said to have been named to the committee.) Bloomberg reported this week that Beth Hammack — a longtime Goldman partner, co-head of the global financial group, member of the management committee, and former CEO of Goldman Sachs Bank USA — is set to step down. And when Esposito broke the news last month of his imminent departure in a note to partners and clients, he wrote, wistfully, that he planned to "bleed Goldman Sachs forever." Are you a Goldman Sachs or Wall Street insider?
Persons: Goldman Sachs, David Solomon's, who's, Mark Sorrell, Gonzalo Garcia, Joshua Franklin, Arash Massoudi, Kim Posnett, Sorrell —, Sir Martin Sorrell, Stephan Feldgoise, Anthony Gutman, Sorrell, Gutman, Garcia, Goldman, Alison Mass, George Lee, Jim Esposito —, , Solomon, Adebayo, Beth Hammack —, Esposito, wistfully, Reed Alexander Organizations: Financial, IB, Reading, Goldman, Bloomberg, Goldman Sachs Bank Locations: Miami
CNN —Cristóbal del Solar wrote his name into the history books on Thursday, as the Chilean golfer shot a 13-under 57 at the Astara Golf Championship to set the new record for the lowest round ever shot at a PGA Tour-sanctioned event. Del Solar’s bogey-free feat bests the previous record set by Germany’s Stephan Jaeger and “Mr. “Incredible, man,” del Solar told reporters. “Hopefully, I’ll celebrate Sunday as well,” del Solar added. Last week, del Solar’s Chilean compatriot Joaquin Niemann shot a 12-under 59 at the LIV Golf season opener in Mayakoba, Mexico, carding an eagle and 10 birdies.
Persons: CNN —, Del Solar’s, Germany’s Stephan Jaeger, “ Mr, Jim Furyk, Ellie Mae Classic, , , You’re, ’ “, Hector Vivas, Brian Campbell, Michael Johnson, Ireland’s David Carey, Joaquin Niemann Organizations: CNN, Florida State, Country Club de Bogotá, PGA, Paco, PGA Tour’s, Solar, LIV Locations: Chilean, Bogota, Colombia, Mayakoba, Mexico
Read previewThis as-told-to story is based on a transcribed conversation with Justin Stephen Mtui, a Kilimanjaro summit guide. I've climbed Kilimanjaro over 300 times. I remember telling other porters, "If you haven't gone to Kilimanjaro summit, you can't say you're hiking Kilimanjaro." Social media has helped make the Kilimanjaro hike more popular. As a company, we'll summit Kilimanjaro 66 times in 2024.
Persons: , Justin Stephen Mtui, Mount Kilimanjaro, you've, I've, don't, Justin Stephan Mtui, we've, they've Organizations: Service, Business, Social Locations: Tanzania, Kilimanjaro, Mount
If you were a teenage boy in the early 2000s, there's a good chance you wore Unilever 's Axe Body Spray at some point. Axe Body Spray entered the U.S. market in 2002, and within a decade of its arrival, Unilever was bringing in nearly half a billion dollars in domestic sales for Axe products, according to estimates from market research firm Kline & Company. But as the brand took off, its offerings rapidly expanded as it was churning out new lines of body wash and hair care. "They launched all different other products that took the advertising dollars away from the body spray itself. 1 men's deodorant worldwide, selling $1.7 billion worth of deodorant and body spray in 2022, according to Euromonitor International.
Persons: there's, John Hegarty, Bartle Bogle Hegarty, Kline, Ann Gottlieb, Stephan Kanlian Organizations: Unilever, Kline & Company, Fashion Institute, Technology's, Euromonitor Locations: London, U.S
Lamborghini sold more than 10,000 vehicles last year for the first time ever and Ferrari had a more than 17% increase in revenue. But customers purchasing Lamborghinis, Rolls-Royces and Bentleys have an even wider array of infinitely customizable paint colors and interior materials, to start with, than carmakers offer for less expensive brands. If the customer has a favorite shirt, for example, the car paint could be matched to the fabric color. At Dixon’s Rolls-Royce dealership three quarters of the roughly 90 cars sold each year include some degree of custom options, she said. While she and Rolls-Royce’s design team can provide guidance, in the end, the choices have to be the customer’s.
Persons: Royce, Ferrari, Lamborghini, Bentley, , Stephan Winkelmann, Lewis Hamilton, Altrata, Royce Cullinan, Javier Gonzalez Lastra, , ” Gonzalez Lastra, Pietro Frigerio, Kellyn Dixon, Dixon, Bugatti Chiron, Bugatti, Chiron, Lamborghini’s Winkelmann Organizations: California CNN, Lamborghini, Ferrari, Bentley, Royce, CNN, Ferrari’s, Tema, Volkswagen, Ford, Art Basel Miami Beach, Rolls Royce, Bugatti, Bugatti Bugatti Locations: Irvine, California, Newport Beach , California, Irvine , California, Goodwood
SAN DIEGO (AP) — Matthieu Pavon made an 8-foot putt for a dramatic birdie on No. 18 at Torrey Pines South for a one-shot victory in the Farmers Insurance Open on Saturday that made him the first Frenchman to win on the PGA Tour. It is amazing,” the 31-year-old PGA Tour rookie said moments after the victory. Pavon, who was born in Toulouse, was playing in just his 11th PGA Tour event. Pavon pulled into a tie for the lead with Jaeger with a birdie on the par-5 ninth.
Persons: — Matthieu Pavon, Frenchman, Pavon, Nicolai Hojgaard, Stephan Jaeger, Nate Lashley, , Jaeger Organizations: DIEGO, Torrey Pines, Farmers Insurance, PGA Tour, European, Pavon Locations: Pavon, Toulouse
He said his strong finish Thursday doesn't give him much momentum because the final two rounds are on the South Course. Aaron Rei (70), Emiliano Grillo (69) and Joseph Bramlett (66) were all at 8 under after playing the South Course. First-round leader Kevin Yu fell off the pace after a 74 on the South Course. 6 Patrick Cantlay also had a rough day on the South Course with a 73. 7 in the world, shot a 70 on the North Course and was at 4 under.
Persons: — Stephan Jaeger, Nicolai Hojgaard, Jaeger, , , it’s, ” Hojgaard, Thomas Detry, Matthieu Pavon of, Pavon, Detry, I’ve, Tony Finau, Michael Kim, Aaron Rei, Emiliano Grillo, Joseph Bramlett, Xander Schauffele, Kevin Yu, Patrick Cantlay, Max Homa, Hideki Matsuyama Organizations: DIEGO, Farmers Insurance, Torrey Pines, Torrey, NFL Locations: Germany, Denmark, Belgium, Matthieu Pavon of France, Torrey Pines, Dubai
Now, many are warning that the far-right Alternative for Germany (AfD) party is capitalizing on the chaos for its own political gain. Sean Gallup/Getty ImagesA tractor displays a banner with the logo of the far-right Alternative for Germany (AfD) party that reads: "Germany needs new elections!" “Supporting democratic protests like this against traffic light madness will continue to be a concern of our hearts,” one post reads. The traffic light will soon be standing all alone.”The “traffic light” is a reference to Scholz’s coalition government – an allusion to the colors of the Social Democratic Party (SPD), the Free Democratic Party (FDP) and the Greens it is comprised of. Far-right coup fantasiesGerman ministers and a domestic intelligence chief have warned how right-wing extremists could try to exploit the farmers’ protests.
Persons: Chancellor Olaf Scholz’s, Kirill Kudryavtsev, Sean Gallup, Martin, ” Steven, Björn Höcke, Scholz, Johannes Kiess, ” Kiess, Jens Schlueter, Kiess, Robert Habeck, ” “, ” Habeck, Kay Nietfeld, Stephan Kramer, , ” Kramer, , Nadine Schmidt, Claudia Otto, Sophie Tanno Organizations: Germany CNN — Farmers, Farmers, Getty, Social Democratic Party, SPD, Free Democratic Party, Greens, Germany’s Office, Homeland, Deutsche, University of Leipzig, CNN, , Ukraine, Tractors, CDU, CSU, Christian Democratic Union, Christian Social Locations: Berlin, Germany, Frankfurt, AFP, Brandenburg, Hamburg, Cologne, Bremen, Nuremberg, Munich, Rügen, Pomerania, Thuringia, Berlin ., Dresden, Saxony, Deutsche Bahn, Cottbus, Torgau, London
Here are 6 signals investment bankers are watching as they pray for an M&A rebound in 2024. By contrast, activity from private equity firms "was off almost 40%," he said. In 2021, private equity firms transacted $1.5 trillion across 2,869 deals, according to Dealogic. Last year, private equity M&A made up 40% of total activity, according to Goldman Sachs. AI companies, many of which are only now being formed, need to mature, and the winners and losers need to come into focus, bankers said.
Persons: Wall, LSEG, Goldman Sachs, Vito Sperduto, Sperduto, we've, Stephan Feldgoise, Hess, Anthony J, Carfang, Cash, Goldman, Goldman's Feldgoise, Feldgoise, Mark Sorrell, I'm, Harold M, Lambert, Jerome Powell, Greg McBride, McBride, Jonathan Gray, dealmaking, Gray, Rob Chisholm, Chisholm Organizations: Fed, London Stock Exchange, Business, RBC Capital Markets, Conference Board, Conference, Federal, Goldman, Federal Reserve, Private, Bankers, DOJ, FTC, Federal Reserve Board, Bankrate, of Labor Statistics, Cisco, LSEG, Qatalyst Partners, Citi, & $ Locations: LSEG, Ukraine
CNN —Pop star Billie Eilish has confirmed that she accidentally came out in a recent interview with Variety magazine. Asked by the red carpet interviewer whether she intended to come out in the cover article, which was published in November, Eilish replied: “No, I didn’t. But I kind of thought, ‘Wasn’t it obvious?’”“I didn’t realize people didn’t know. It’s exciting to me because I guess people didn’t know, but it’s cool that they know,” she said. I’m attracted to them for real.”“I have deep connections with women in my life, the friends in my life, the family in my life,” added Eilish.
Persons: Billie Eilish, Eilish, I’m, I’ve, , , Katcy Stephan, “ I’ve, “ I’m Organizations: CNN, Variety Locations: Los Angeles
Alfred Eisenstaedt/Time & Life Pictures/Getty Images Kissinger takes a call in his office in the early 1970s. Bettmann Archive/Getty Images Kissinger talks with journalists on his way to meet with NATO foreign ministers. Bettmann Archive/Getty Images Kissinger, second from left, walks with Leonid Brezhnev, secretary-general of the Soviet Communist Party, in 1973. Bettmann Archive/Getty Images Kissinger looks out a window at the King David Hotel in Jerusalem in 1975. Chip Somodevilla/Getty Images Kissinger is greeted by US Sen. John McCain after a Senate Armed Services Committee hearing in 2015.
Persons: CNN — Henry Kissinger, Kissinger, Henry Kissinger, Stephen Voss, Walter, Heinz Alfred Kissinger, Henry, William P, Rogers, Alfred Eisenstaedt, Tom Blau, Richard Nixon, Nixon, Warren Burger, Alamy Kissinger, Le Duc Tho, Tho, Wally McNamee, Corbis, Zhou Enlai, Leonid Brezhnev, Dirck Halstead, Gerald Ford, Nancy, pats, King David Hotel, David Hume Kennerly, Kirk Douglas, David, Elizabeth, Mikki Ansin, Diana Walker, Peter Southwock, Princess Diana, Colin Powell, Barbara Walters, Diana, David McNew, George W, Bush, Charles Dharapak, Christian Wulff, Stephan Schraps, Hillary Clinton, Madeleine Albright, John Kerry, Chip Somodevilla, US Sen, John McCain, Tom Williams, Ash Carter, Yin Bogu, Cui Tiankai, Zhang Chaoqun, Donald Trump, Jim Watson, Andrew Harnik, Maximilian, Daniel Vogl, Xi Jinping, Nixon’s, Reagan, ” Kissinger, CNN’s Wolf Blitzer, , CNN’s Fareed Zakaria, , Lincoln, Bernie Sanders, Count, ” Sanders, Clinton, “ I’ve, Zakaria Organizations: CNN, Kissinger Associates, Bettmann, Getty, Harvard University, Harvard's Center for International Affairs, National Security Council, US Arms Control, Disarmament Agency, State Department, Camera, State, Chief, Everett, Inc, Paris Peace Accords, MPI, NATO, Soviet Communist Party, Hulton, King, Times Newspapers, Concord Academy, Senate Energy, Richard, US Diplomacy Center, US, Armed Services, Nixon Library, Museum, Capitol, Science, Arts, New York’s, Nazis, United States Army, Jewish, Pentagon, CBS News, Richard Nixon Presidential Library, Republican Party Locations: Nazi Germany, Connecticut, Washington , DC, Fürth, Germany, United States, Paris, Beijing, ITAR, Washington ,, Japan, Egypt, Israel, Jerusalem, Massachusetts, Boston, New York, Yorba Linda , California, Berlin, Xinhua, AFP, Bavarian, Vietnam, China, Cambodia, Chile, Soviet, Saigon, Laos, New, Furth, Nazi, Soviet Union, South Vietnam, North Vietnam, Fuerth
For an example of how climate change is increasingly becoming a flashpoint in the culture wars, Germany is a good place to start. Meanwhile, Spain’s far-right Vox party vowed to defend the country against “the new climate religion.”But to understand why climate change and the culture wars have become so enmeshed globally, experts say the United States probably holds the key. It’s effective, it does scare people.”The origins of the climate culture war in the US lie in the early 1990s, when a new push for global climate action collided with big geopolitical change, McCright said. Lightning rod for right wing mediaConservative media has played an outsized role in fueling culture war narratives, according to experts. Fox has “been laying the groundwork necessary for positioning climate policies as a culture war issue for a long time,” she said.
Persons: , stoked, , Miranda Schreurs, Anger, Green, Kristin Brinker, Jörg, Stephan Lewandowsky, Rishi Sunak, , ” Sunak, Vox, Ron DeSantis, ” DeSantis, Aaron McCright, McCright, ” McCright, , Brandon Bell, Lewandowsky, “ you’d, ” Alec Tyson, Alexandria Ocasio, Cortez, Sen, Ed Markey, Allison Fisher, Fisher, Fox, didn’t, Ed Matthew, Matthew said, Jennie King, ” King, Germany —, Matthew of E3G, ” Schreurs, “ it’s Organizations: CNN, Green Party, Technical University of Munich, University of Bristol, British, Justice, Florida Gov, Republican, Michigan State University, Oil, Republicans, Pew Research, Pew, Conservative, Massachusetts, Green, Deal, Fox, Media, Institute for Strategic Locations: Germany, Charlottenburg, Berlin, Europe, United States, West Texas, Florida, American, Kyoto, Soviet Union, Federal, Midland , Texas, Alexandria, Cortez of New York
[1/5] Stephan Feldgoise, co-head of global M&A for of Goldman Sachs, speaks at the ReutersNEXT Newsmaker event in New York City, New York, U.S., November 8, 2023. This has fueled soul-searching among investment bankers about the prospects for their business. "I'm reasonably bullish that this will return, but obviously it will be in fits and starts." "Our (deal pipelines) are at one of the largest levels that you've seen in five-six years. Reporting by Anirban Sen in New York; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.
Persons: Stephan Feldgoise, Goldman Sachs, Brendan McDermid, Goldman, Steven Baronoff, Anu Aiyengar, Aiyengar, Anthony Kim, Kim, Michal Katz, Katz, Anirban Sen, Chizu Organizations: REUTERS, Goldman Sachs Group Inc, Reuters NEXT, Federal Reserve, Bank of America, Chevron Corp, Hess Corp, Exxon Mobil Corp, Natural Resources, JPMorgan Chase &, Microsoft Corp, Illumina Inc, Centerview Partners, Greenhill, Co Inc, Thomson Locations: New York City , New York, U.S, East, Ukraine, Americas, United States, New York
Marketers have expressed cautious optimism looking ahead to 2024, with 60% of respondents in a new survey saying they plan to increase their ad budgets next year. Just 29% of respondents last year said they were expecting to increase their media budgets in 2023. Of the remaining 40% of those surveyed, roughly one-third (33%) said they intended to maintain their 2023 budgets into 2024. Meanwhile, print, linear TV, and radio were all likely to decline in their share of most marketers' budgets in 2024, according to the report. Around a third of advertisers said they plan to conduct log-level analysis of the programmatic supply chains in 2024 and 2025, according to the report.
Persons: Stephan Loerke, it's, we'll Organizations: World Federation, Retailers, CTV
The meeting was aimed at garnering state leaders' support for such moves and addressing local authorities' complaints that public coffers and infrastructure are overburdened. The leader of the central state of Hesse put the total volume of aid at 3.5 billion euros. "Our shared goal is to push back irregular migration," said Scholz, after describing the agreement as a "historic moment." Some 230,000 people requested asylum in Germany in the first nine months of this year, more than in the full year 2022. His government has also agreed changes to existing rules to enable asylum seekers to enter the labour force more rapidly and to punish human traffickers with longer prison sentences.
Persons: Olaf Scholz, Hesse Boris Rhein, Lower Saxony Stephan Weil, Angela Merkel, Scholz, Sarah Marsh, Andreas Rinke, Miranda Murray, Rachel More, Barbara Lewis, Raju Gopalakrishnan Organizations: Lower, REUTERS, European Union, Thomson Locations: Hesse, Lower Saxony, Germany, Berlin, BERLIN, Russia, Scholz's
QUILLOTA, Chile, Nov 3 (Reuters) - The Pan American Games show jumping competition ended in chaos on Friday, with Canada arguing a judging error had denied Amy Millar a place on the podium, triggering protests and appeals. Video showed that the barrier did drop but the Canadian protest argued it did so after Millar had crossed the finish line and completed her round. The U.S. later filed a counter appeal and could be seen engaged in an animated conversation with the Canadian team outside of the judges' meeting. "We just went all together, including the Canadian team, to watch the video, the video clearly shows she touched the fence," Ward, a five-time Olympian and double gold medallist told Reuters. Ward had no problem with Canada filing a protest but was happy officials made the decision they did.
Persons: Amy Millar, Millar, Ian Millar, Brazil's Stephan de Freitas Barcha, Kent Farrington, McLain Ward, McLain, Ward, Steve Keating, Toby Davis Organizations: Pan American, Reuters, U.S, Canadian, Thomson Locations: QUILLOTA, Chile, Canada, U.S, Quillota
America's last functional prison ship, New York's Vernon C. Bain Correctional Center, is closing. The Vernon C. Bain Correctional Center was originally meant to solve overcrowding at Rikers Island. Vernon C. Bain currently houses 500 incarcerated people, though it has 800 beds. Inmates can be seen playing basketball on the Vernon C. Bain court. It's unclear what the future for the Vernon C. Bain Correctional Center is after inmates are all transferred out.
Persons: New York's Vernon C, , Kenneth Williams, Williams, Vernon C, Seth Wenig, United States —, Bain, Gregory Acevedo, Stephan Khadu, Darren Mack, Gary Hershorn, who've, David Dee Delgado, Edward Koch, Khadu, Joseph B, Frederick, Lezandre Khadu, Stephan Khadu's, Rudy Giuliani, David Howells, Corbis, Latima Johnson, Johnson Organizations: Bain Correctional Center, Service, New York City's, Bain Correctional, AP, Department of Correction, Bain, New, New York, Getty Images Locations: New York's, Brooklyn, New, Bronx, United States, New York, Rikers, New York City, California, South Bronx,
Egypt’s pyramids host breathtaking new art exhibit
  + stars: | 2023-10-30 | by ( Francesca Perry | ) edition.cnn.com   time to read: +7 min
In one project, a new pyramid structure emerges in wicker; in another, glass sculptures appear to make the ancient pyramids float on water. Organized by Nadine Abdel Ghaffar, the founder and curator of Cairo-based arts firm Art D’Égypte, the event aims to celebrate ancient Egyptian culture through contemporary creativity. “I’ve always been fascinated by the Pyramids of Giza and the entire ancient Egyptian culture — the mysticism around it, the enigmas,” Zeta said. Courtesy CulturVator - Art D'E“Translucent Pyramid” by Saudi artist Rashed Al-Shashai, adds a new, 6m-tall pyramid to the plateau. Conceived as seemingly archaeological fragments of a labyrinth, each one is decorated with perforated motifs taken from historic diagrams of the ancient Egyptian labyrinth.
Persons: Nadine Abdel Ghaffar, D’Égypte, Artur Lescher, , Pilar Zeta, I’ve, ” Zeta, Carole A, Sabine Marcelis, ” Marcelis, Stephan Breuer French, Glass, Costas Varotsos, Rashed Al, Sam Shendi, Azza Al Qubaisi, D'E Rashid Al Khalifa, JR, Organizations: CNN, UNESCO, Bahraini, JR Locations: Giza, Egypt, Cairo, Brazil, Mexico, Argentinian, French, Saudi
An estimated 100,000 people in the United States have sickle cell disease, most of whom have African ancestry. will decide on another application for sickle cell gene therapy made by Bluebird Bio. Two other companies and an academic center, Boston Children’s Hospital, are testing their own sickle cell gene therapies. While these therapies could reduce the suffering of sickle cell patients in the United States and other wealthy countries, there is an even greater need for them in some developing countries like Nigeria. One company, Beam, is testing a way to provide gene editing that requires nothing more than a single infusion in a doctor’s office.
Persons: , Mariah Jacqueline Scott, Scott, , Stephan Grupp, What’s Organizations: Institute for Clinical, CRISPR Therapeutics, Children’s Hospital of Philadelphia, Bluebird, Boston Children’s Hospital Locations: United States, Highland Park, N.J, Boston, Nigeria
Workers with AI skills earn up to 40% more than those without them, new research finds. It comes as companies increasingly aim to hire staff with specialized AI skills. The study, which surveyed 25,000 freelance workers, showed that knowledge of machine learning, open-source AI software, and deep learning salaries were the skills employers valued the most. Speaking at the Google Cloud Next conference in London earlier this month, Unilever chief technology officer Adam Raeburn-Jones said AI skills will be a crucial factor in future hiring decisions. Stephan Pretorius, CTO of advertising agency WPP, said his company was now hiring people with specialist AI skills, and that employers would have to battle to attract young workers with AI expertise.
Persons: , Fabian Stephany, Adam Raeburn, Jones, Jobseekers, Raeburn, Stephan Pretorius Organizations: Service, Workers, Research, Oxford Internet Institute, University of Copenhagen, Google, Unilever, WPP, Columbia University Locations: London
CNN —José Mourinho was sent off during Roma’s dramatic 1-0 Serie A victory over Monza with the Roma manager seen making a ‘crying’ gesture towards the opposition’s bench. However, after the game Mourinho said he “didn’t know why” he was shown a red card. “I only made a gesture to the bench, not a single word,” Mourinho said, per Reuters. In stoppage time, Mourinho could be seen mimicking someone crying in a gesture made in the direction of the Monza bench. The Roma manager was sent off three times in Serie A last season.
Persons: CNN — José Mourinho, Mourinho, , ” Mourinho, Sunday, Stephan El Shaarawy, Monza Organizations: CNN, Monza, Reuters, Roma, Stadio Olimpico, Inter Milan, Champions League, Serie Locations: Monza
Two heirs of Birkenstock are now worth $3.4 billion after the company's IPO, Bloomberg reported. Birkenstock listed in New York on Wednesday, but shares opened at 11% below their offer price. AdvertisementAdvertisementTwo of the heirs of German sandal maker Birkenstock are now worth a combined $3.4 billion after the company went public, Bloomberg reported. The nearly 250-year-old company listed on the New York Stock Exchange via an IPO, trading under the ticker "BIRK" and pushing up the fortunes of Alex and Christian Birkenstock. The brothers netted more than €3 billion ($3.2 billion) from that transaction, Bloomberg reported.
Persons: Birkenstock, , Alex, Christian Birkenstock, Christian, Stephan, Karl Birkenstock, Alex Birkenstock, Bernard, Alexandre Arnault, Charles Dolan, Kendall Jenner, Barbie, boomers, Xers, Gen Zers, Greta Gerwig's, Emma Chamberlain Organizations: Bloomberg, Service, New York Stock Exchange, Warner Bros Locations: New York, Germany, Americas, Europe ., Boston, Barbieland
Why superyacht builders are investing in solar
  + stars: | 2023-10-06 | by ( Sydney Boyo | ) www.cnbc.com   time to read: +5 min
Early tech adopters are investing in a new toy: solar-powered electric yachts. "I believe electric yachts and electric motors will be the main propulsion of pleasure yachts and even cargo vessels in the near future." The company says it has an order book of 160 million euros ($168 million), with prices ranging from 3.2 million euros for its 60-foot yacht to 30 million euros for the fully equipped version of its 120-foot vessel. "The smallest boat is around 1.5 million euros and on the upper range there really is no limit. "We think there is a sweet spot for solar electric boats between 50 and 120 feet," said Kress.
Persons: Mike Horn, Michael Köhler, it's, Heiki, Stephan Kress, Sunreef, Rafael Nadal, Fernando Alonso, Nicola Lapp, Kress Organizations: SuperYacht Times, of Yachting, ForSea Ferries, Allied Market Research, Silent Yachts, Yachts, Formula Locations: SuperYacht Times ', North America, Sweden, Austria, Italy, Turkey, Gdansk, Poland, Emirate, Ras Al Khaimah, Sunreef
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