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☆ Newmont’s $19 bln gold deal lacks investor sparkle
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, May 15 (Reuters Breakingviews) - Newmont (NEM.N) boss Tom Palmer has finally dug out a deal with rival Newcrest Mining (NCM.AX). After months of discussions the two sides on Sunday agreed to an all-share transaction that values the Australian target’s enterprise at A$28.8 billion ($19.3 bln). The logic is that absorbing Newcrest will boost the Canadian buyer’s output of gold and copper. In return, the U.S. group is paying a punchy 27% premium to its prey’s stock price before their merger haggling went public. That implies an after-tax return on Newmont’s investment of around 7%, roughly in line with its cost of capital.

☆ Wood Group’s non-deal requires a rapid Plan B
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +2 min

LONDON, May 15 (Reuters Breakingviews) - Ken Gilmartin needs a Plan B. The chief executive of $1.3 billion John Wood Group (WG.L) did little to encourage Apollo Global Management’s (APO.N) interest, despite the U.S. private equity house submitting no less than five separate bids for the UK infrastructure business. But now Apollo has ditched its most recent plan to buy Wood Group for 240 pence a share – and the target’s shares have slumped 35% back to 145 pence. Gilmartin and the Wood Group board reckon the company will be successful as a solo operation. But if investors were convinced, then Wood Group’s share price shouldn’t have plummeted back to around where it was when Apollo’s interest emerged in February.

☆ Slava Zaitsev, Enduring Soviet-Era Fashion Designer, Dies at 85
▼ + stars: | 2023-05-13 | by ( Penelope Green | ) www.nytimes.com time to read: +1 min

Slava Zaitsev, an effervescent and enduring Soviet-era fashion designer, once called the “Red Dior” by the Western press, whose over-the-top theatrical creations and persona made him a go-to couturier at home, died on April 30 in Shchyolkovo, Russia. His longtime friend Tatiana Sorokko, a Russian-born model and journalist, said his death, in a hospital, was caused by internal bleeding that resulted from an ulcer. Mr. Zaitsev died just two days before Valentin Yudashkin, a pupil of his who was also known for his sumptuous creations, and who found greater success in the West than he did, died of cancer at 59. Mr. Zaitsev gave color, sparkle and opulence to a generation raised in drab Soviet gray, the uniform of the proletariat, by combining Western bling with nods to traditional Russian folk costumes and nostalgic references to Pasternak and Tolstoy. He was the first designer, in pre-perestroika days, to be allowed to put his name on his work, which he first did in 1982.

☆ In ‘Some Like It Hot,’ J. Harrison Ghee Brings Their Whole Self
▼ + stars: | 2023-05-10 | by ( Robin Pogrebin | ) www.nytimes.com time to read: +1 min

Ghee described the Tony nomination as “such a ride of emotions.”“I’m just starting to come down from it,” they said. As for having been nominated in a gendered category, Ghee said: “Wherever I am, I will show up as who I am. You’re welcome.’”Growing up in Fayetteville, N.C., Ghee was always drawn to the girls’ section of department stores and remembers pining for a lime green suit. “Why do girls get all the fun options?” Ghee recalled asking their mother. “There’s all the sparkle and the ruffle,” while the boys’ section has “khaki and navy and you get a vest if you want to be festive.”

☆ Italy's TIM seeks final offer for grid by June 9
▼ + stars: | 2023-05-04 | by ( Elvira Pollina Jubabu | Elvira Pollina | ) www.reuters.com time to read: +2 min

TIM directors gathered on Thursday to draw a response to rival non binding approaches for its landline grid by KKR (KKR.N) and a consortium comprising state lender CDP and fund Macquarie (MQG.AX), worth 21 billion euros ($23 billion) and 19.3 billion euros, respectively. In a statement after the board meeting, TIM said it deemed the bids "not yet adequate", adding at least one of the bidders had expressed its readiness to improve its non-binding offer. Three sources with knowledge of the matter said KKR was willing to work further on its bid's terms. Italian last month said her right-wing administration would not intervene at this stage in the network sale process, although it is on alert to avoid any risk to the national interest. ($1 = 0.9081 euros)Reporting by Elvira Pollina and Juby Babu, Editing by Franklin PaulOur Standards: The Thomson Reuters Trust Principles.

☆ Karl and Anna, a Love Story in Clothes
▼ + stars: | 2023-04-27 | by ( Vanessa Friedman | ) www.nytimes.com time to read: +1 min

Karl frequently surprised the world as a designer (he loved to turn heads), but it was as a friend that he surprised me most. Many years ago, when I was facing my first summer vacation with my children after my divorce, I was frozen. It was Karl, of all people, who sensed this and swooped in to lend a hand. Karl was perhaps even less a kid person than he was a porcelain person, but he went all out when I most needed it. A real relationship with Karl was an association and connection built incrementally, over years.

☆ Sale of Italy's MPS should help create several big banks, says Meloni
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: +2 min

Monte dei Paschi (MPS), of which the government owns 64% following a 2017 bailout, is seen playing a pivotal role in the consolidation expected among Italy's mid-sized lenders. After failing to clinch a sale of MPS to UniCredit (CRDI.MI) in 2021, the government is expected to seek another bank interested in buying its stake in the Tuscan lender. The government has just decided to renew Luigi Lovaglio's mandate as MPS chief executive for another term. We confirmed Lovaglio at the helm of Monte dei Paschi, the CEO successfully led the last capital increase, and now we must work to bring Monte back to the private market," Meloni said. "The government will not intervene, it is alert to check that there are no situations that jeopardise the national interest," Meloni told the newspaper.

☆ Getting a Brighter View During Milan Design Week
▼ + stars: | 2023-04-11 | by ( The New York Times | ) www.nytimes.com time to read: 1 min

This article is part of our Design special report previewing 2023 Milan Design Week. This year, the biennial international lighting fair Euroluce, which runs from April 18 through April 23, will check into the fairgrounds at the edge of Milan and dazzle visitors with the latest innovations in this most revolutionary of design categories. New experiments in lighting will also sparkle at concurrent exhibitions like Alcova and in showrooms, courtyards and commandeered palaces in other parts of the Italian city. What follow are some highlights of lighting presentations taking place during Milan Design Week.

☆ Botswana mining growth seen flat amid dim diamond outlook
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

GABORONE, March 1 (Reuters) - Botswana expects output from its mining sector to be flat this year, as the diamond industry loses its sparkle due to a contraction in consumer spending and weaker demand for diamond jewellery, a finance ministry official said on Wednesday. Diamond trading grew 41% in the year as Botswana also benefitted from Western buyers shunning stones from Russia following its invasion of Ukraine. In 2023, Botswana expects diamond output to decline by 1%, while diamond trading growth is seen slowing to 7% from 41% last year. Finance ministry estimates show that government expects mineral royalties to fall to 4,5 billion pula ($3.41 billion) in 2023, from 6.1 billion pula last year. Dividends due to the state will also decline to 11,3 billion pula from 15 billion pula in 2022.

Meloni's administration wants to secure public control of TIM's grid, but there is no common ground within the government on how to achieve this. KKR, which has already invested 1.8 billion euros ($1.9 billion)on TIM's grid, has now bid for a controlling stake in a unit comprising the entire TIM's domestic fixed access network and submarine cable business Sparkle. Ceding control of TIM's grid is a main plank of TIM Chief Executive Pietro Labriola's efforts to cut the former phone monopoly's 25 billion euro net debt and revamp its struggling domestic business. TIM's confirmed its board would meet on Friday to discuss KKR's offer and "take appropriate decisions". CDP's potential offer has been hampered in part by regulatory concerns given it is the main investor in TIM's fibre-optic rival Open Fiber, people familiar with the matter said.

☆ More than 200 books in Amazon's bookstore have ChatGPT listed as an author or coauthor
▼ + stars: | 2023-02-22 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

A buzzy new author has become a familiar presence in Amazon's bookstore — OpenAI's ChatGPT. The chatbot is credited as an author or coauthor for more than 200 paperbacks and e-books. At the time of writing, the buzzy chatbot developed by OpenAI was credited as the author or coauthor on more than 200 paperbacks and e-books in Amazon's bookstore. One paperback where the bot is listed as a coauthor, "ChatGPT on ChatGPT: The AI Explains Itself," was described as having been "written entirely" by the AI bot. Reshi self-published "Alice and Sparkle" as a paperback on Amazon's bookstore for free via a service called KDP.

☆ Telecom Italia says KKR has agreed to govt request to extend bid for grid
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +1 min

[1/2] Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid//File PhotoFeb 21 (Reuters) - Telecom Italia (TIM) (TLIT.MI) said on Tuesday U.S. fund KKR & Co Inc (KKR.N) has extended the non-binding offer for its prized landline grid by four weeks to March 24 following a government request. Earlier this month KKR, which already owns a minority stake in TIM's landline grid, submitted a non-binding bid for a controlling stake in a unit comprising TIM's domestic fixed network and submarine cable unit Sparkle. A day later, Italy expressed its intention to implement its goal of putting Telecom Italia's grid in state hands. TIM said its Board of Directors will meet on 24 February to discuss KKR's non-binding offer.

☆ Improving Italian business cushions TIM's profit decline
▼ + stars: | 2023-02-14 | by ( Elvira Pollina | ) www.reuters.com time to read: +2 min

Italy's biggest phone group said earnings before interest, tax, depreciation and amortisation (EBITDA) including lease costs fell 10.6% to 5 billion euros in the 12 months to Dec. 31. That compares with a "low-teens" decrease targeted by TIM and was in line with an average analyst forecast of 4.988 billion euros, according to a company-provided consensus. Total group service revenue rose by 1.3% to 14.6 billion euros, exceeding analysts expectations for a rise of 0.6% and the company's target for a 'low single digit decrease'. Net financial debt stood at 25.4 billion euros as of Dec. 31, up by 3.2 billion euros from the year before. TIM is expected later on Tuesday to issue an update of its business plan for 2023-2025, including new financial targets.

CDP is seeking to finalise its bid after U.S. investment firm KKR (KKR.N) last week filed its own offer for the same Telecom Italia (TIM) asset. Two sources familiar with the matter told Reuters KKR's approach valued the venture at about 20 billion euros ($21.4 billion). Prime Minister Giorgia Meloni repeatedly said her government wants to secure public control of TIM's network. But there is no common ground yet within her administration on how to reach such a goal and it was no clear whether a CDP bid would receive the blessing of the Treasury. Economy Minister Giancarlo Giorgetti believes Rome has "multiple options" to put TIM's network under strategic government control, a separate source said, without elaborating.

☆ Imane Ayissi adds African touch to Paris haute couture fashion week
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

[1/3] A model presents a creation by designer Imane Ayissi as part of his Haute Couture Spring/Summer 2023 collection show in Paris, France, January 26, 2023. REUTERS/Sarah Meyssonnier TPX IMAGES OF THE DAYPARIS, Jan 26 (Reuters) - Imane Ayissi wove African textiles into his haute couture collection shown in Paris on Thursday, mixing raffia-lined garments in bright colours with dresses coated in sequins or airy silk fringes. "This is a window to show techniques of African artisans," said Ayissi. The Cameroon-born designer, who is based in Paris, is currently featured in the Victoria & Albert Museum exhibit "Africa Fashion" in London. Haute couture fashion week in Paris, which wound up on Thursday, features some of the most prestigious fashion houses, including Christian Dior (DIOR.PA) and Chanel.

☆ Peloton instructor Leanne Hainsby, 35, said she was diagnosed with breast cancer after a doctor told her not to worry about a lump in her breast
▼ + stars: | 2023-01-27 | by ( ) www.businessinsider.com time to read: +2 min

Peloton instructor Leanne Hainsby said she was diagnosed with breast cancer at age 35. She wrote on Instagram that she noticed a lump in her breast, but a doctor initially said not to worry. "Chemo is no joke," Hainsby wrote. Family history of breast cancer is a major risk factor, but other factors like reproductive health and alcohol use can also play a role, according to the Mayo Clinic. Other symptoms of breast cancer include skin irritation, pain, or any other changes in the area that seem unusual, a breast surgeon previously told Insider.

☆ This man used AI to write and illustrate a children's book in 1 weekend. He wasn't prepared for the backlash.
▼ + stars: | 2023-01-15 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

Ammaar Reshi wrote and illustrated a children's book in 72 hours using ChatGPT and Midjourney. He then used Midjourney, an AI art generator, to illustrate it. Artists accused him of theftReshi's book touched a nerve with some artists who argue that AI art generators are stealing their work. Some artists claim their art has been used to train AI image generators like Midjourney without their permission. Reshi said he would be hesitant to put out an illustrated book again, but he would like to try other projects with AI.

☆ Wine and sequins help UK's M&S sparkle at Christmas
▼ + stars: | 2023-01-12 | by ( Paul Sandle | ) www.reuters.com time to read: +3 min

The retailer's high-end food offer traditionally appeals to shoppers at Christmas, and 2022 was no exception despite increasing economic pressure on consumers. As a whole, it reported a better-than-expected increase in like-for-like food sales of 6.3%. "Even in clothing, we saw people trading to value, but we also saw them trading to some of the premium products as well," he said. Tesco (TSCO.L), Britain's biggest supermarket, also reported stronger than expected Christmas sales on Thursday, with like-for-like sales up 7.2% in the six weeks to Jan. 7. Machin, however, said M&S was passing on less of the inflationary pressure to customers than its competitors and it managed to grow its food volume by 1.1% in December.

☆ LVMH names new Louis Vuitton CEO, puts Arnault daughter in charge of Dior
▼ + stars: | 2023-01-11 | by ( Mimosa Spencer | ) www.reuters.com time to read: +5 min

Pietro Beccari, who has been the head of Dior since 2018, is moving to replace long-time Louis Vuitton CEO Michael Burke, 65. Delphine Arnault, 47, has worked at Louis Vuitton for the past decade alongside Burke and previously spent a dozen years at Dior. [1/2] Bernard Arnault, CEO of LVMH Moet Hennessy Louis Vuitton SE, and Delphine Arnault, Executive Vice President of Louis Vuitton, leave after the Spring/Summer 2020 collection show for fashion house Louis Vuitton during Men's Fashion Week in Paris, France, June 20, 2019. Alexandre Arnault, 30, is in charge of products and communication at Tiffany, while Frederic Arnault, 28, is CEO of another group brand, TAG Heuer. The youngest child, Jean Arnault, 24, heads marketing and product development for Louis Vuitton's watches division.

Several Latinos whose lives and work left a profound imprint on American institutions — from arts and entertainment to legal and civil rights — passed away in 2022. Cavazos began his education in a two-room schoolhouse on the King Ranch in Texas, where his father was a foreman. President Reagan named Cavazos Secretary of Education in 1988, making him the first Hispanic ever to serve in the U.S. Together, “Luis” and Maria” showed young audiences that Latinos were people who worked, fell in love and were part of their community. Her goals were to give Latinos a presence in the dance world, and to instill pride in Hispanic culture.

☆ HBO Max has always streamed HBO series like 'Game of Thrones' without commercials. But that's going to change.
▼ + stars: | 2022-12-23 | by ( Lucia Moses | ) www.businessinsider.com time to read: +2 min

Ads are coming to HBO original series like "Game of Thrones" on HBO Max. Running ads alongside HBO originals could turn off viewers or possibly anger creators. HBO Max has kept commercials off its most prestigious programming — HBO originals series like "Mare of Easttown" and "Game of Thrones" (though ads appear in HBO Max originals like "The Flight Attendant" and "Hacks"). At the service's launch, Andy Forssell, then HBO Max EVP and GM, called the plan an effort to create an "elegant, tasteful ad experience that is respectful of great storytelling." With HBO Max, WBD is racing to make streaming profitable while slashing debt.

☆ I quit my IT job to install lights year-round. It's not easy but making people's days is worth it.
▼ + stars: | 2022-12-22 | by ( Melanie Carden | ) www.businessinsider.com time to read: +8 min

Doran Dal Pra first installed holiday lights in 2018 after a friend proposed the business idea. The holiday lights have to go up — snow or no snow. We're not building rockets; we're hanging holiday lights, which is something almost any homeowner can do. The New England Holiday Lighting CompanyThere's this home for older adults that goes bananas with its holiday lights each year. The New England Holiday Lighting CompanyI was on a ladder and pulling an extension cord through some branches when it got caught.

SummarySummary Companies Government met TIM's key shareholders CDP, Vivendi on ThursdayWants to spin off Sparkle, put it under state controlSparkle manages fibre cables that stretch over 500,000 kmROME, Dec 15 (Reuters) - Italy's government wants to bring Telecom Italia's (TLIT.MI) (TIM) submarine cable unit Sparkle into state hands, three sources close to the matter told Reuters. The plan emerged after the government on Thursday started talks with leading TIM investors Vivendi (VIV.PA) and state lender Cassa Depositi e Prestiti (CDP) to identify "the best market-friendly options" for the phone group. Prime Minister Giorgia Meloni's administration aims to secure control of TIM's landline grid, an asset deemed of strategic importance, to create a wholesale-only broadband player. But the sources added that Rome also wants a spin-off of Sparkle, given the sensitivity of the data it carries, in order to put the unit into state hands. The sources said there would at least be three more government-sponsored meetings with TIM's stakeholders, with one scheduled for Dec. 20.

And Wagner’s beloved fireflies – like so many insects worldwide – have largely vanished in what scientists are calling the global Insect Apocalypse. “Insects are the food that make all the birds and make all the fish,” said Wagner, who works at the University of Connecticut. Humans, too, see some 2,000 species of insects as food. “We’d see yields dropping of all of these crops.”And in nature, about 80% of wild plants rely on insects for pollination. WINNERS AND LOSERSWhile the situation is bleak for insects at large, a few types of insects are thriving.

Much of Ukraine’s resisting force has had to hunker down in muddy trenches, fighting tooth and nail to deny Russian forces a victory they desperately crave. Vasco Sousa Cotovio/CNNFamily tiesCaesar’s ideological drive is not the only reason some Russians have chosen to side with Ukrainians on the battlefield. Evidence of mass graves and civilian executions in those areas emerged following the withdrawal of Russian forces from the Kyiv region in early April. Russian soldiers fighting for Ukraine could face tougher consequences than their Ukrainian counterparts if they’re captured by the enemy. Vasco Sousa Cotovio/CNNBut pain and death are not a part of this unit’s lexicon, even as they face overwhelming odds in Bakhmut.

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