1 hr. ago
As per an author, Queen Camilla and Prince William's meeting has triggered an unforeseen development. The news emerges amid royal family tensions heightened since Prince Harry and Meghan Markle's UK return. The Duke of Sussex is now in the headlines after expressing his wish to reconcile with the royal family.
Queen Camilla's first meeting with Prince William reportedly left her so flustered that she instantly needed a gin and tonic. The claim comes from a royal biographer who detailed the seemingly awkward context of their first introduction.
In her biography "Queen Consort: The Life of Queen Camilla," author Penny Junor revisited the meeting. She wrote that the Queen Consort had even offered to step out of the house to avoid causing William any discomfort.
King Charles reportedly brushed off her worries, calling them "ridiculous," and went ahead with plans for her to meet his son after school. They scheduled the introduction for around 7 pm. But the royal heir showed up four hours ahead of time, giving her far less time to get ready than she had expected.
Rather than delaying the moment, Charles apparently urged them to face the unease head-on. However, after spending around 30 minutes with her future stepson, the former ***** ss of Cornwall reportedly came out of the meeting and said, "I need a gin and tonic."
#meeting #royal #reportedly #consort
Queen Camilla's first meeting with Prince William reportedly left her so flustered that she instantly needed a gin and tonic. The claim comes from a royal biographer who detailed the seemingly awkward context of their first introduction.
In her biography "Queen Consort: The Life of Queen Camilla," author Penny Junor revisited the meeting. She wrote that the Queen Consort had even offered to step out of the house to avoid causing William any discomfort.
King Charles reportedly brushed off her worries, calling them "ridiculous," and went ahead with plans for her to meet his son after school. They scheduled the introduction for around 7 pm. But the royal heir showed up four hours ahead of time, giving her far less time to get ready than she had expected.
Rather than delaying the moment, Charles apparently urged them to face the unease head-on. However, after spending around 30 minutes with her future stepson, the former ***** ss of Cornwall reportedly came out of the meeting and said, "I need a gin and tonic."
#meeting #royal #reportedly #consort
20 days ago
King Charles and Queen Camilla's marriage has reportedly reached a "breaking point" in the wake of Earl Spencer's bombshell memoir about his late sister, Princess Diana, ******* led "Swan Song: Diana, My Sister." The newly released book has created quite the buzz among the royal watchers. Now, according to a new report, Charles Spencer's Diana memoir has caused intense damage to the married life of the monarch and the Camilla consort of the United Kingdom.
Earl Spencer's much-talked-about memoir, "Swan Song: Diana, My Sister," has reportedly been damaging King Charles and Queen Camilla's marriage. As reported by Woman's Day, a source told them that "There's a lot of talk that she and Charles are well and truly at their breaking point, and that this is affecting the marriage in a very significant way." According to the source, "The growing consensus is that this Spencer book is well and truly the last straw."
Furthermore, the insider said to the news outlet that Charles cannot stop talking about Spencer's memoir about the late Princess Diana and everything it rehashed. According to the insider, the monarch has been feeling furious about the content of the book, and he has been struggling to accept that there is nothing he can do to stop it. Per the publication, the insider claimed that the monarch is currently on the "edge," with worries about the "calamity" the royal family might face next.
In the meantime, per the publication, the source further claimed that Camilla has been "trying to be sympathetic but she doesn't have a whole lot of patience because she feels attacked, too." According to the source, the Queen consort of the United Kingdom "is finding the overall atmosphere at Clarence House too much to bear at present." "It's no secret that she and the King aren't in a good place," the source also added.
The post King Charles & Queen Camilla's Marriage at 'Breaking Point' — Source appeared first on Mandatory.
#diana #marriage #memoir
Earl Spencer's much-talked-about memoir, "Swan Song: Diana, My Sister," has reportedly been damaging King Charles and Queen Camilla's marriage. As reported by Woman's Day, a source told them that "There's a lot of talk that she and Charles are well and truly at their breaking point, and that this is affecting the marriage in a very significant way." According to the source, "The growing consensus is that this Spencer book is well and truly the last straw."
Furthermore, the insider said to the news outlet that Charles cannot stop talking about Spencer's memoir about the late Princess Diana and everything it rehashed. According to the insider, the monarch has been feeling furious about the content of the book, and he has been struggling to accept that there is nothing he can do to stop it. Per the publication, the insider claimed that the monarch is currently on the "edge," with worries about the "calamity" the royal family might face next.
In the meantime, per the publication, the source further claimed that Camilla has been "trying to be sympathetic but she doesn't have a whole lot of patience because she feels attacked, too." According to the source, the Queen consort of the United Kingdom "is finding the overall atmosphere at Clarence House too much to bear at present." "It's no secret that she and the King aren't in a good place," the source also added.
The post King Charles & Queen Camilla's Marriage at 'Breaking Point' — Source appeared first on Mandatory.
#diana #marriage #memoir
1 month ago
On August 19, Ferrovial (NASDAQ:FER) announced it had been selected to deliver the I-24 Southeast Choice Lanes, a 26-mile project running between Nashville and Murfreesboro. It is the largest single capital investment in Tennessee's history and the state's first public-private partnership. The price tag is $9.2 billion, though Ferrovial isn't carrying it alone, since its DriveTN consortium also counts Transurban and Tikehau Star Infra as partners.
Choice lanes are familiar ground for Ferrovial, which has replicated the model in Washington, D.C., Charlotte and Dallas-Fort Worth. On Virginia's 66 Express corridor, similar lanes shaved up to 50% off peak-hour travel times. That is the pitch for I-24, a stretch of highway that already ranks among the region's most jammed: drivers who opt in get steadier speeds, and those in the free lanes should see less traffic too.
The business behind the bid looks healthy, too. Ferrovial's July 28 results showed adjusted EBITDA up 21.6% on a like-for-like basis to €746 million over the first six months of the year, with U.S. highways doing most of the lifting. Those roads are sending cash home as well, since Ferrovial received €357 million in dividends from North America. And the construction order book reached an all-time high of €18 billion, so plenty of work is already in hand. The pipeline keeps filling: Ferrovial bid on I-285 East in Georgia in July, and its D35 Highway bid in the Czech Republic was the most cost-effective submitted, with technical evaluation still underway.
Beyond the roads, the balance sheet looks sturdy. Ferrovial ended the first half with €1.3 billion in net cash, excluding infrastructure projects, meaning cash outweighs debt outside those projects. The airport arm is progressing too: Ferrovial has finished funding the $1.1 billion in equity it pledged for New Terminal One at JFK, and construction there is 92% complete.
Start with the line that looks worst on the page. Net profit for the first half of 2026 came in at €258 million, versus €540 million for the same period of 2025. That earlier figure included capital gains from ******* et rotation, which makes the comparison harsh, but the mismatch is still there: EBITDA climbed while reported profit fell.
#first #million #choice
Choice lanes are familiar ground for Ferrovial, which has replicated the model in Washington, D.C., Charlotte and Dallas-Fort Worth. On Virginia's 66 Express corridor, similar lanes shaved up to 50% off peak-hour travel times. That is the pitch for I-24, a stretch of highway that already ranks among the region's most jammed: drivers who opt in get steadier speeds, and those in the free lanes should see less traffic too.
The business behind the bid looks healthy, too. Ferrovial's July 28 results showed adjusted EBITDA up 21.6% on a like-for-like basis to €746 million over the first six months of the year, with U.S. highways doing most of the lifting. Those roads are sending cash home as well, since Ferrovial received €357 million in dividends from North America. And the construction order book reached an all-time high of €18 billion, so plenty of work is already in hand. The pipeline keeps filling: Ferrovial bid on I-285 East in Georgia in July, and its D35 Highway bid in the Czech Republic was the most cost-effective submitted, with technical evaluation still underway.
Beyond the roads, the balance sheet looks sturdy. Ferrovial ended the first half with €1.3 billion in net cash, excluding infrastructure projects, meaning cash outweighs debt outside those projects. The airport arm is progressing too: Ferrovial has finished funding the $1.1 billion in equity it pledged for New Terminal One at JFK, and construction there is 92% complete.
Start with the line that looks worst on the page. Net profit for the first half of 2026 came in at €258 million, versus €540 million for the same period of 2025. That earlier figure included capital gains from ******* et rotation, which makes the comparison harsh, but the mismatch is still there: EBITDA climbed while reported profit fell.
#first #million #choice
1 month ago
This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter.
Two recent road projects have been turning heads in the construction industry, and they have something interesting in common.
Both the $9.2 billion Interstate 24 Southeast Choice Lanes project in Tennessee and the $4.6 billion state Route 400 Express Lanes in Georgia use concessions, which allow a consortium in a public-private partnership to benefit from future use fees, such as revenue from tolls.
In exchange, the consortium puts forward a significant amount of cash to design, build, operate and maintain the roadways. For contractors, being a part of a consortium can potentially give them stable work and revenue for decades.
For example, in the case of the Georgia state Route 400 project, the consortium is Peach Partners, comprising Acciona Concessions, ACS Infrastructure and Meridiam, which will deliver and maintain the project under a 56-year public-private partnership. The consortium is providing a $3.8 billion concession fee to the state's DOT to help fund other roadway projects as part of the P3 to design, build, operate and maintain the express lanes, per the U.S. DOT.
#consortium #lanes #route
Two recent road projects have been turning heads in the construction industry, and they have something interesting in common.
Both the $9.2 billion Interstate 24 Southeast Choice Lanes project in Tennessee and the $4.6 billion state Route 400 Express Lanes in Georgia use concessions, which allow a consortium in a public-private partnership to benefit from future use fees, such as revenue from tolls.
In exchange, the consortium puts forward a significant amount of cash to design, build, operate and maintain the roadways. For contractors, being a part of a consortium can potentially give them stable work and revenue for decades.
For example, in the case of the Georgia state Route 400 project, the consortium is Peach Partners, comprising Acciona Concessions, ACS Infrastructure and Meridiam, which will deliver and maintain the project under a 56-year public-private partnership. The consortium is providing a $3.8 billion concession fee to the state's DOT to help fund other roadway projects as part of the P3 to design, build, operate and maintain the express lanes, per the U.S. DOT.
#consortium #lanes #route
1 month ago
On August 5, Clear Channel Outdoor Holdings Inc. (NYSE:CCO) reported second-quarter results that showed the billboard and airport advertising company accelerating just as it prepares to leave the public markets. On February 9, Clear Channel agreed to be acquired by an investor consortium advised by Mubadala Capital for $2.43 per share, a deal stockholders approved on May 12, and one expected to close by the end of the third quarter of 2026. Because of the pending Merger, Clear Channel skipped its usual earnings call and offered no forward guidance.
Consolidated revenue climbed 8.7% to $438.0 million in the quarter and 10.2% to $811.9 million over the first half, with the 2026 FIFA World Cup pulling in extra advertising spend across both of Clear Channel's segments. The America division, which houses the roadside billboard and street furniture business, grew revenue 7% to $324.3 million as demand from technology advertisers in the San Francisco/Bay Area market broadened out and digital billboard revenue rose 7.2% to $122 million. Airports revenue jumped 14% to $113.6 million, helped by strong demand at San Francisco
International Airport and digital sales that climbed 15.6% to $73.4 million, with national advertisers now accounting for 57.8% of that segment's revenue. Profitability grew even faster than the top line. Adjusted EBITDA rose 11.6% to $143.4 million for the quarter and 19% to $247.3 million for the first half, while Airports Segment Adjusted EBITDA jumped 22.8% to $29.9 million. Adjusted Funds From Operations climbed 61.6% to $44.9 million in the quarter, and for the first half it went from just $5 million a year ago to $51.5 million. On August 4, Clear Channel also closed the sale of its Spain business for about $132.3 million, proceeds it plans to put toward paying down debt.
The growth did not reach the bottom line. Clear Channel posted a loss from continuing operations of $10 million in the quarter, reversing a $6.3 million profit a year earlier, and the consolidated net loss came to $5 million versus net income of $10.6 million in the same period of 2025. Over six months, the loss from continuing operations widened 21.4% to $59.4 million. Costs rose alongside revenue. Direct operating and SG&A expenses increased 5.9% for the quarter, and Airports site lease expense alone jumped 12.0% to $67.1 million on higher minimum guaranteed payments and the renewed contract with the Metropolitan Washington Airports Authority.
#channel #revenue #airports #operations
Consolidated revenue climbed 8.7% to $438.0 million in the quarter and 10.2% to $811.9 million over the first half, with the 2026 FIFA World Cup pulling in extra advertising spend across both of Clear Channel's segments. The America division, which houses the roadside billboard and street furniture business, grew revenue 7% to $324.3 million as demand from technology advertisers in the San Francisco/Bay Area market broadened out and digital billboard revenue rose 7.2% to $122 million. Airports revenue jumped 14% to $113.6 million, helped by strong demand at San Francisco
International Airport and digital sales that climbed 15.6% to $73.4 million, with national advertisers now accounting for 57.8% of that segment's revenue. Profitability grew even faster than the top line. Adjusted EBITDA rose 11.6% to $143.4 million for the quarter and 19% to $247.3 million for the first half, while Airports Segment Adjusted EBITDA jumped 22.8% to $29.9 million. Adjusted Funds From Operations climbed 61.6% to $44.9 million in the quarter, and for the first half it went from just $5 million a year ago to $51.5 million. On August 4, Clear Channel also closed the sale of its Spain business for about $132.3 million, proceeds it plans to put toward paying down debt.
The growth did not reach the bottom line. Clear Channel posted a loss from continuing operations of $10 million in the quarter, reversing a $6.3 million profit a year earlier, and the consolidated net loss came to $5 million versus net income of $10.6 million in the same period of 2025. Over six months, the loss from continuing operations widened 21.4% to $59.4 million. Costs rose alongside revenue. Direct operating and SG&A expenses increased 5.9% for the quarter, and Airports site lease expense alone jumped 12.0% to $67.1 million on higher minimum guaranteed payments and the renewed contract with the Metropolitan Washington Airports Authority.
#channel #revenue #airports #operations
1 month ago
Queen Camilla has reportedly put the royal ambitions of Prince Harry and Meghan Markle on notice. The report came after the Sussexes made a striking return to the UK with their two kids, Prince Archie and Princess Lilibet, last month. The return came six years after the Sussex couple started living in the US after stepping down from their roles as working royals.
Queen Camilla has allegedly pushed her husband, King Charles, to draw a line with his youngest son, Prince Harry, and his wife, Meghan Markle, after they moved back to the UK. As reported by RadarOnline, sources reported that the Queen consort of the United Kingdom had concerns that the Duke and ***** ss of Sussex's return to Britain could blur the boundaries between the monarch and the Sussexes.
In the meantime, a royal insider claimed that Queen Camilla knows how the idea about the monarchy can turn complex very fast. Thus, she reportedly felt "determined" that Prince Harry and Meghan Markle's UK move should not be seen as the start of any "restoration" of their previous royal positions. According to the insider, Queen Camilla's "feeling was that everyone – the Sussexes, officials and the public – needed absolute clarity from the outset."
The source also explained that no one should "underestimate" the "influence" Queen Camilla has on her husband, King Charles. The source then said, "She is somebody whose judgment he trusts enormously, particularly when difficult family questions risk becoming institutional problems. Camilla believed allowing uncertainty to linger would simply store up a much bigger confrontation later."
Meanwhile, another insider told the news outlet that Queen Camilla's move is not about stopping the King from having a relationship with Prince Harry and his kids. "The distinction Camilla was concerned about was between the private family and the public monarchy," the insider added.
#prince #royal
Queen Camilla has allegedly pushed her husband, King Charles, to draw a line with his youngest son, Prince Harry, and his wife, Meghan Markle, after they moved back to the UK. As reported by RadarOnline, sources reported that the Queen consort of the United Kingdom had concerns that the Duke and ***** ss of Sussex's return to Britain could blur the boundaries between the monarch and the Sussexes.
In the meantime, a royal insider claimed that Queen Camilla knows how the idea about the monarchy can turn complex very fast. Thus, she reportedly felt "determined" that Prince Harry and Meghan Markle's UK move should not be seen as the start of any "restoration" of their previous royal positions. According to the insider, Queen Camilla's "feeling was that everyone – the Sussexes, officials and the public – needed absolute clarity from the outset."
The source also explained that no one should "underestimate" the "influence" Queen Camilla has on her husband, King Charles. The source then said, "She is somebody whose judgment he trusts enormously, particularly when difficult family questions risk becoming institutional problems. Camilla believed allowing uncertainty to linger would simply store up a much bigger confrontation later."
Meanwhile, another insider told the news outlet that Queen Camilla's move is not about stopping the King from having a relationship with Prince Harry and his kids. "The distinction Camilla was concerned about was between the private family and the public monarchy," the insider added.
#prince #royal
1 month ago
Paola of Belgiumturns 89 this September 11: the Belgian press isn't publishing big special features on her, and so far the official channels also haven't marked the day with a new photo or a public gesture, as they tend to do when it's a milestone birthday. It's been a while since the woman who was queen consort for two decades stepped into the background; she suffered a stroke in 2018, from which she recovered, and now lives a quiet life between Belgium and the south of France.
Her public appearances are now rare; here she is with her husband, Albert II, and the current monarchs, her son, Philippe of the Belgians, and his wife, Queen Mathilde. The picture was taken in 2023 during National Day. (@ Patrick van Katwijk)
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Prince Harry and Meghan Markle's surprise return to the UK leaves the royal family's future in question
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#september #philippe
Her public appearances are now rare; here she is with her husband, Albert II, and the current monarchs, her son, Philippe of the Belgians, and his wife, Queen Mathilde. The picture was taken in 2023 during National Day. (@ Patrick van Katwijk)
You may also like
Prince Harry and Meghan Markle's surprise return to the UK leaves the royal family's future in question
Princess Astrid of Norway dies at 94, just two days after King Harald's funeral
#september #philippe
2 months ago
Liverpool are going to be buying another defender in the near future.
Everything is gearing up for the departure of Virgil van Dijk. He is entering the final year of his contract at Anfield. Liverpool decided to extend his deal last year.
However, with Van Dijk set to turn 36-years-old next summer it's really hard to see Liverpool's board extending his stay even further than his current terms.
Obviously, at this stage anything can happen. A lot will depend on the new direction the club is going to take. Especially in terms of who the new sporting director will be and just how involved the new consortium led by Amit Bhatia who now own 33% of Liverpool are going to be as well.
But the truth is the foundations are there for Liverpool to succeed Van Dijk.
#year
Everything is gearing up for the departure of Virgil van Dijk. He is entering the final year of his contract at Anfield. Liverpool decided to extend his deal last year.
However, with Van Dijk set to turn 36-years-old next summer it's really hard to see Liverpool's board extending his stay even further than his current terms.
Obviously, at this stage anything can happen. A lot will depend on the new direction the club is going to take. Especially in terms of who the new sporting director will be and just how involved the new consortium led by Amit Bhatia who now own 33% of Liverpool are going to be as well.
But the truth is the foundations are there for Liverpool to succeed Van Dijk.
#year
2 months ago
For years, the world's largest banks watched stablecoins from the sidelines, treating them as a threat to deposits and traditional payment rails. That era appears to be over.
A consortium of 21 financial institutions, including Goldman Sachs, Bank of America, Citigroup, Deutsche Bank, UBS, Wells Fargo, Barclays and Santander, is planning to form a company that would issue a stablecoin pegged to the U.S. dollar, with a launch targeted for the first half of 2027, according to Reuters.
A stablecoin is a digital token designed to hold a steady value, typically backed one-to-one by a traditional currency like the U.S. dollar, and used for payments, trading and moving money across borders.
Related: 50 major hacks cost crypto investors $136M in August
The effort started smaller.
#goldman #sachs #wells
A consortium of 21 financial institutions, including Goldman Sachs, Bank of America, Citigroup, Deutsche Bank, UBS, Wells Fargo, Barclays and Santander, is planning to form a company that would issue a stablecoin pegged to the U.S. dollar, with a launch targeted for the first half of 2027, according to Reuters.
A stablecoin is a digital token designed to hold a steady value, typically backed one-to-one by a traditional currency like the U.S. dollar, and used for payments, trading and moving money across borders.
Related: 50 major hacks cost crypto investors $136M in August
The effort started smaller.
#goldman #sachs #wells
2 months ago
SCARDOVARI, Italy (AP) — Italian fishermen for two years incinerated most of the invasive Atlantic blue crabs caught in the Po River Delta south of Venice. Few Italians had an appetite for the alien predator blamed for decimating their prized Manila clams.
While experiments in containment continue, including the release of tens of thousands of octopus predators, the industry's response has been shifting to find new markets for the crustaceans. The strategy is already salvaging the livelihood of some fishermen and, some hope, may even rehabilitate the much-maligned crab's image in Italy.
Like other members of his local cooperative, second-generation fisherman Federico Zago saw his income crash after the crab invasion. The Polesine Fishermen's Cooperative Consortium's revenues fell 75% to 15 million euros ($17 million) in 2024 and 2025; the cooperative's active members also shrank from 1,500 to 850.
"We needed to change strategy, and create an opportunity from this disaster," said Paolo Mancin, the cooperative's president.
Desperate, they pivoted to exporting the unwanted crabs, with the aim of preserving the Manila clams — invasive themselves — and mussels that created decades of prosperity in the shallow lagoons of Veneto and Emilia Romagna.
#manila #million
While experiments in containment continue, including the release of tens of thousands of octopus predators, the industry's response has been shifting to find new markets for the crustaceans. The strategy is already salvaging the livelihood of some fishermen and, some hope, may even rehabilitate the much-maligned crab's image in Italy.
Like other members of his local cooperative, second-generation fisherman Federico Zago saw his income crash after the crab invasion. The Polesine Fishermen's Cooperative Consortium's revenues fell 75% to 15 million euros ($17 million) in 2024 and 2025; the cooperative's active members also shrank from 1,500 to 850.
"We needed to change strategy, and create an opportunity from this disaster," said Paolo Mancin, the cooperative's president.
Desperate, they pivoted to exporting the unwanted crabs, with the aim of preserving the Manila clams — invasive themselves — and mussels that created decades of prosperity in the shallow lagoons of Veneto and Emilia Romagna.
#manila #million
2 months ago
The AA, Britain's largest and most historic motoring organisation, has held talks about a potential sale to Allianz for £5bn.
The German insurance giant has entered the race to acquire the AA after the company's private equity owners put it up for sale late last year.
TowerBrook Capital Partners, Warburg Pincus and Stonepeak are currently part of a consortium that own the self-styled "fourth emergency service".
A potential sale to Allianz, which was was first reported by Sky News, would see one of the UK's best-known heritage brands passing into German control.
Swedish private equity giant EQT is also reportedly considering a bid.
#Potential #towerbrook
The German insurance giant has entered the race to acquire the AA after the company's private equity owners put it up for sale late last year.
TowerBrook Capital Partners, Warburg Pincus and Stonepeak are currently part of a consortium that own the self-styled "fourth emergency service".
A potential sale to Allianz, which was was first reported by Sky News, would see one of the UK's best-known heritage brands passing into German control.
Swedish private equity giant EQT is also reportedly considering a bid.
#Potential #towerbrook
2 months ago
Associations that represent banks scattered across U.S. states are planning to launch their own blockchain network.
A consortium of 39 state banking ******* ociations plans to launch a new bank-run blockchain network to facilitate financial innovations, including tokenized deposits and stablecoins.
The 39 ******* ociations have signed onto the "BankChain Alliance" that aims to build the blockchain network by 2027.
More From Cryptoprowl:
Canadian Defense Tech Firm Jumps 92% as Government Revenue Boosts Margins
#associations
A consortium of 39 state banking ******* ociations plans to launch a new bank-run blockchain network to facilitate financial innovations, including tokenized deposits and stablecoins.
The 39 ******* ociations have signed onto the "BankChain Alliance" that aims to build the blockchain network by 2027.
More From Cryptoprowl:
Canadian Defense Tech Firm Jumps 92% as Government Revenue Boosts Margins
#associations
2 months ago
ADNOC has awarded McDermott a contract worth more than $1 billion for a major offshore pressure-boosting facility at Abu Dhabi's Umm Shaif field, as the UAE accelerates investment in natural gas production.
The engineering, procurement, construction and installation contract covers Package 4 of ADNOC's Umm Shaif Integrated Gas Cap and Surface Pressure Boosting Project. McDermott and its Qingdao McDermott Wuchuan consortium will construct and install a new jacket and topside while modifying existing offshore infrastructure.
McDermott did not disclose the exact contract value but classified it as a "mega" award, which the company defines as exceeding $1 billion. The company said the completed topside will be among the heaviest offshore modules ever installed in the Middle East.
The contract follows ADNOC's $6.2-billion final investment decision in July to develop the Umm Shaif Gas Cap alongside TotalEnergies, Eni and China National Petroleum Corporation. The wider project includes three EPC contracts worth a combined $5.1 billion and a 14-well drilling program.
ADNOC expects the development to unlock more than 600 million standard cubic feet per day of natural gas and ***** ociated liquids, equivalent to roughly 10% of current UAE domestic gas consumption. First production is targeted for 2030.
#mcdermott
The engineering, procurement, construction and installation contract covers Package 4 of ADNOC's Umm Shaif Integrated Gas Cap and Surface Pressure Boosting Project. McDermott and its Qingdao McDermott Wuchuan consortium will construct and install a new jacket and topside while modifying existing offshore infrastructure.
McDermott did not disclose the exact contract value but classified it as a "mega" award, which the company defines as exceeding $1 billion. The company said the completed topside will be among the heaviest offshore modules ever installed in the Middle East.
The contract follows ADNOC's $6.2-billion final investment decision in July to develop the Umm Shaif Gas Cap alongside TotalEnergies, Eni and China National Petroleum Corporation. The wider project includes three EPC contracts worth a combined $5.1 billion and a 14-well drilling program.
ADNOC expects the development to unlock more than 600 million standard cubic feet per day of natural gas and ***** ociated liquids, equivalent to roughly 10% of current UAE domestic gas consumption. First production is targeted for 2030.
#mcdermott
2 months ago
Prince Harry and Meghan Markle reportedly will be back in the UK soon. Naturally, many are expecting their comeback not to sit well with Prince William and Kate Middleton, given the longstanding feud. However, as per a source, Middleton wants William to make peace with his brother for the monarchy.
According to Rob Shuter, Kate Middleton doesn't want her and Prince William to be at war with Prince Harry and Meghan Markle. The Princess of Wales is reportedly urging her husband to make peace with his brother. However, the intention behind the move is allegedly to protect the monarchy instead of rebuilding the brotherly bond. The Sussexes reportedly want to have their own separate operation outside the UK. One source described it as creating a "rival royal court" alongside the Waleses' future reign.
While the two couples might never be close again, Middleton reportedly doesn't want any bad blood either. "Kate is the voice of reason," a source told the outlet. They continued, "She knows William and Harry may never be brothers in the way they once were." However, she feels like, "they can be civil, they can cooperate, and they can stop feeding the story that the royal family is permanently divided." Moreover, the Princess allegedly understands that every public clash gives more oxygen to the Duke and ***** ss of Sussex.
"This isn't about forgiveness. It's about strategy," the source explained. They further added, "Kate is thinking about the institution and the future, when William is King, and she is Queen." The source also ended up calling her "a chess player." They concluded, "She doesn't need Harry to love William. She needs him to stop fighting him."
Recently, royal fans on X were discussing the potential impact of Markle's comeback on Middleton. Many believed that she might increase her workload due to the Sussexes' return for an extended period of time. However, others felt that the Princess might not be overwhelmed this way. "I think the future Queen consort will be just fine," a user wrote. Another one said the Waleses won't increase their workload, as the Sussexes aren't "working royals; they are private citizens only who will be keeping their heads down in the UK."
#william #middleton #prince #reportedly
According to Rob Shuter, Kate Middleton doesn't want her and Prince William to be at war with Prince Harry and Meghan Markle. The Princess of Wales is reportedly urging her husband to make peace with his brother. However, the intention behind the move is allegedly to protect the monarchy instead of rebuilding the brotherly bond. The Sussexes reportedly want to have their own separate operation outside the UK. One source described it as creating a "rival royal court" alongside the Waleses' future reign.
While the two couples might never be close again, Middleton reportedly doesn't want any bad blood either. "Kate is the voice of reason," a source told the outlet. They continued, "She knows William and Harry may never be brothers in the way they once were." However, she feels like, "they can be civil, they can cooperate, and they can stop feeding the story that the royal family is permanently divided." Moreover, the Princess allegedly understands that every public clash gives more oxygen to the Duke and ***** ss of Sussex.
"This isn't about forgiveness. It's about strategy," the source explained. They further added, "Kate is thinking about the institution and the future, when William is King, and she is Queen." The source also ended up calling her "a chess player." They concluded, "She doesn't need Harry to love William. She needs him to stop fighting him."
Recently, royal fans on X were discussing the potential impact of Markle's comeback on Middleton. Many believed that she might increase her workload due to the Sussexes' return for an extended period of time. However, others felt that the Princess might not be overwhelmed this way. "I think the future Queen consort will be just fine," a user wrote. Another one said the Waleses won't increase their workload, as the Sussexes aren't "working royals; they are private citizens only who will be keeping their heads down in the UK."
#william #middleton #prince #reportedly
2 months ago
ExxonMobil (NYSE: XOM) recently warned Kazakhstan that the Central Asian nation's largest oil field, Tengiz, will hit its production peak next year. Worse yet, output from the field will begin to decline. Exxon estimates it will fall nearly 40% by 2035 to around 500,000 barrels per day (bpd). That also has implications for Chevron, as it helped develop the field through its 50% interest in the Tengizchevroil (TCO) partnership.
However, while Tengiz is about to plateau and decline, that's not a crisis for ExxonMobil. Here's why.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Even though output at Tengiz is about to peak and start declining, Exxon has another opportunity in Kazakhstan: Kashagan. The giant offshore field in the Caspian Sea is operated by a partnership that includes Exxon, Shell, TotalEnergies, and others. Exxon sees the potential for an $80 billion joint investment to develop the western part of the field. This expansion could produce up to 600,000 bpd.
However, the field is part of a long-running dispute between Kazakhstan and the operating consortium. Kazakhstan levied a $5 billion environmental fine that the field's operator hasn't paid. Additionally, the government says the partners owe it $150 billion for lost revenue due to development delays, a claim currently before international arbitration. Exxon and its partners won't invest the capital needed to boost production in this field until they resolve the dispute with the government.
#billion
However, while Tengiz is about to plateau and decline, that's not a crisis for ExxonMobil. Here's why.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Even though output at Tengiz is about to peak and start declining, Exxon has another opportunity in Kazakhstan: Kashagan. The giant offshore field in the Caspian Sea is operated by a partnership that includes Exxon, Shell, TotalEnergies, and others. Exxon sees the potential for an $80 billion joint investment to develop the western part of the field. This expansion could produce up to 600,000 bpd.
However, the field is part of a long-running dispute between Kazakhstan and the operating consortium. Kazakhstan levied a $5 billion environmental fine that the field's operator hasn't paid. Additionally, the government says the partners owe it $150 billion for lost revenue due to development delays, a claim currently before international arbitration. Exxon and its partners won't invest the capital needed to boost production in this field until they resolve the dispute with the government.
#billion
2 months ago
Queen Camilla's reported stance toward Prince Harry and Meghan Markle has emerged as the Sussexes prepare for an extended return to the UK. The development follows their quiet but significant reunion with King Charles and Camilla at Highgrove House, the monarch's private Gloucestershire residence, last month.
Despite being targeted in Prince Harry's memoir "Spare," Queen Camilla is said to have shown generosity during their recent meeting. The Queen Consort featured in several of the Duke's claims in the book, which was released in 2023.
In "Spare," Harry reportedly referred to Her Majesty more than 60 times, calling her "the Other Woman" and his "wicked stepmother." The remarks were reportedly deeply upsetting to King Charles. Hence, ahead of the Sussexes' return to Britain, critics have called for a firm stance to be taken against them.
Yet, according to the Daily Mail, the Queen reportedly greeted Prince Harry warmly with a smile and offered him tea during their private family gathering in Gloucestershire. The gesture of goodwill is said to have eased some of the Sussexes' concerns about returning to the UK.
However, the report suggested that a similarly warm reception may be unlikely from Prince William and Kate Middleton. The heir to the throne remains estranged from his brother following a series of accusations Harry has made against the Waleses, Charles, and Camilla since the "Megxit" crisis in 2020.
#queen #prince #charles #reportedly
Despite being targeted in Prince Harry's memoir "Spare," Queen Camilla is said to have shown generosity during their recent meeting. The Queen Consort featured in several of the Duke's claims in the book, which was released in 2023.
In "Spare," Harry reportedly referred to Her Majesty more than 60 times, calling her "the Other Woman" and his "wicked stepmother." The remarks were reportedly deeply upsetting to King Charles. Hence, ahead of the Sussexes' return to Britain, critics have called for a firm stance to be taken against them.
Yet, according to the Daily Mail, the Queen reportedly greeted Prince Harry warmly with a smile and offered him tea during their private family gathering in Gloucestershire. The gesture of goodwill is said to have eased some of the Sussexes' concerns about returning to the UK.
However, the report suggested that a similarly warm reception may be unlikely from Prince William and Kate Middleton. The heir to the throne remains estranged from his brother following a series of accusations Harry has made against the Waleses, Charles, and Camilla since the "Megxit" crisis in 2020.
#queen #prince #charles #reportedly
2 months ago
A Bloomberg report on August 18 revealed that BP plc (NYSE:BP) has become the latest foreign company to enter the Venezuelan oil trade, with the tanker Monte Lema loading 400,000 barrels of heavy fuel oil for the British energy giant. The oil is being supplied by the state-owned PDVSA. The strategic move places BP among a select group of companies, including trading giants Trafigura and Vitol, with direct access to Venezuelan oil.
The development comes a few days after it was announced that the London-based company would partner with two other firms to develop the second phase of the Loran gasfield, in one of the first large-scale foreign investments in the South American country since the ouster of Nicolás Maduro earlier this year. That said, while the consortium has secured the official exploration and production license, the project remains in the pre-FID phase.
The developments come after President Trump called for global oil companies to invest in Venezuela and help restore and modernize its dilapidated oil infrastructure. The South American nation is sitting on the largest proven crude oil reserves in the world, accounting for roughly 17% of the global total. However, the oil-rich country's government nationalized major heavy oil projects in 2007, forcing foreign operators into minority stakes or outright seizing their **** ets.
As a relatively early mover, BP plc (NYSE:BP) stands to gain a lot from a gradual revival of Venezuelan oil output. The company appears to be positioning itself across multiple areas of Venezuela's energy value chain – from exploration to production, to trading and international marketing. It means that the energy giant could benefit from the country in many ways as it reconnects with global energy markets.
Moreover, BP's entry into the Venezuelan oil trade could give it an opportunity to capture trading margins in addition to upstream earnings. This could be particularly beneficial for the company as it could potentially leverage its already existing refining, marketing, shipping, and trading infrastructure in the region. Although Trafigura and Vitol have an early foothold in Venezuela's oil trading business, BP's large integrated energy business gives it a significant competitive edge.
#energy #company #vitol
The development comes a few days after it was announced that the London-based company would partner with two other firms to develop the second phase of the Loran gasfield, in one of the first large-scale foreign investments in the South American country since the ouster of Nicolás Maduro earlier this year. That said, while the consortium has secured the official exploration and production license, the project remains in the pre-FID phase.
The developments come after President Trump called for global oil companies to invest in Venezuela and help restore and modernize its dilapidated oil infrastructure. The South American nation is sitting on the largest proven crude oil reserves in the world, accounting for roughly 17% of the global total. However, the oil-rich country's government nationalized major heavy oil projects in 2007, forcing foreign operators into minority stakes or outright seizing their **** ets.
As a relatively early mover, BP plc (NYSE:BP) stands to gain a lot from a gradual revival of Venezuelan oil output. The company appears to be positioning itself across multiple areas of Venezuela's energy value chain – from exploration to production, to trading and international marketing. It means that the energy giant could benefit from the country in many ways as it reconnects with global energy markets.
Moreover, BP's entry into the Venezuelan oil trade could give it an opportunity to capture trading margins in addition to upstream earnings. This could be particularly beneficial for the company as it could potentially leverage its already existing refining, marketing, shipping, and trading infrastructure in the region. Although Trafigura and Vitol have an early foothold in Venezuela's oil trading business, BP's large integrated energy business gives it a significant competitive edge.
#energy #company #vitol
2 months ago
Peltz's Trian, holding a combined 24% stake in $WEN, is reportedly ***** embling a take-private consortium with BlueFive Capital and franchise giant Flynn Group.
$QSR is the only major burger operator in positive territory, up 14% year to date, while $MCD and $JACK have each dropped 12%.
Act now: the ***** yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Wendy's didn't make the cut. Grab the names FREE today.
Shares of Wendy's (NASDAQ:WEN) are up 5% to $8.88 in midday trading Wednesday after reports that Nelson Peltz's Trian Fund Management is ***** embling a consortium to take the company private. Adding to the catalyst, the burger chain confirmed it is reviving its chief operating officer role as part of a broader management reset.
Wendy's stock was up 5% year to date through Tuesday's close, an unusual gain given deteriorating same-restaurant sales and a withdrawn 2026 outlook. The rally reflects deal speculation rather than a change in the operating story, with investors treating this as a special situation.
#trian #assembling #year #operating
$QSR is the only major burger operator in positive territory, up 14% year to date, while $MCD and $JACK have each dropped 12%.
Act now: the ***** yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Wendy's didn't make the cut. Grab the names FREE today.
Shares of Wendy's (NASDAQ:WEN) are up 5% to $8.88 in midday trading Wednesday after reports that Nelson Peltz's Trian Fund Management is ***** embling a consortium to take the company private. Adding to the catalyst, the burger chain confirmed it is reviving its chief operating officer role as part of a broader management reset.
Wendy's stock was up 5% year to date through Tuesday's close, an unusual gain given deteriorating same-restaurant sales and a withdrawn 2026 outlook. The rally reflects deal speculation rather than a change in the operating story, with investors treating this as a special situation.
#trian #assembling #year #operating
2 months ago
On August 17, Nvidia (NASDAQ:NVDA) agreed to guarantee up to $105 billion to help OpenAI lease a massive data center in Pike County, Ohio, being developed by SoftBank-owned SB Energy. The site could reach 8 gigawatts of capacity, with the first 800 megawatts due online in 2028, and OpenAI has signed on for 20 years. Nvidia will also put $1.5 billion directly into SB Energy and will be the facility's exclusive chip supplier. It's the latest example of the company financing the very infrastructure that runs its own chips, a habit that keeps expanding even as it keeps drawing scrutiny.
The idea behind the guarantee is that Nvidia is using its balance sheet to lock up long-lived sites where its chips can run across multiple hardware generations, and the numbers behind that bet keep climbing. Revenue growth is expected to accelerate toward 97% this quarter, up from 85% the quarter before, as the company rolls out its new Rubin platform. Jensen Huang has floated $1 trillion in combined revenue across 2026 and 2027, which implies roughly $600 billion in fiscal 2028 alone. Demand isn't limited to hyperscalers, either.
SpaceX has said it will build its AI infrastructure exclusively on Nvidia chips, targeting 10 gigawatts of compute by the end of 2027, a build-out estimated to cost $150 billion to $250 billion. Add in the four largest hyperscalers, expected to spend roughly $700 billion on AI chips this year, plus a possible OpenAI or Anthropic IPO that could free up even more capital, and the picture is a company still early in monetizing an entire computing shift. The Ohio guarantee, paired with the $500 billion financing consortium Nvidia formed with six major financial institutions the week before, fits that same playbook: widen the pool of customers locked into its hardware so no single client's slowdown can shake the business.
The obvious pushback is circularity. Nvidia is effectively helping fund a customer's ability to buy Nvidia chips, first through the $500 billion consortium with BlackRock, Blackstone, KKR, Apollo, Brookfield and Goldman Sachs, and now through a direct guarantee tied to OpenAI's Ohio lease. Huang insists this isn't circular financing, but the plan to securitize AI infrastructure into a tradable ******* et class invites comparisons to how mortgage pools were packaged before 2008. Nvidia's exposure here isn't unlimited. It covers a portion of lease and power payments and a minimum-value commitment on the site, not the full $105 billion or all of OpenAI's obligations. But if OpenAI defaults, Nvidia still absorbs the difference between that floor value and whatever the site fetches if it's re-leased or sold.
#openai
The idea behind the guarantee is that Nvidia is using its balance sheet to lock up long-lived sites where its chips can run across multiple hardware generations, and the numbers behind that bet keep climbing. Revenue growth is expected to accelerate toward 97% this quarter, up from 85% the quarter before, as the company rolls out its new Rubin platform. Jensen Huang has floated $1 trillion in combined revenue across 2026 and 2027, which implies roughly $600 billion in fiscal 2028 alone. Demand isn't limited to hyperscalers, either.
SpaceX has said it will build its AI infrastructure exclusively on Nvidia chips, targeting 10 gigawatts of compute by the end of 2027, a build-out estimated to cost $150 billion to $250 billion. Add in the four largest hyperscalers, expected to spend roughly $700 billion on AI chips this year, plus a possible OpenAI or Anthropic IPO that could free up even more capital, and the picture is a company still early in monetizing an entire computing shift. The Ohio guarantee, paired with the $500 billion financing consortium Nvidia formed with six major financial institutions the week before, fits that same playbook: widen the pool of customers locked into its hardware so no single client's slowdown can shake the business.
The obvious pushback is circularity. Nvidia is effectively helping fund a customer's ability to buy Nvidia chips, first through the $500 billion consortium with BlackRock, Blackstone, KKR, Apollo, Brookfield and Goldman Sachs, and now through a direct guarantee tied to OpenAI's Ohio lease. Huang insists this isn't circular financing, but the plan to securitize AI infrastructure into a tradable ******* et class invites comparisons to how mortgage pools were packaged before 2008. Nvidia's exposure here isn't unlimited. It covers a portion of lease and power payments and a minimum-value commitment on the site, not the full $105 billion or all of OpenAI's obligations. But if OpenAI defaults, Nvidia still absorbs the difference between that floor value and whatever the site fetches if it's re-leased or sold.
#openai
2 months ago
Standard Life has agreed to a partnership with a consortium of investors to expand its pension risk transfer (PRT) business, with a combined initial capital commitment of up to $2.72bn (£2bn).
The consortium consists of CVC Capital Partners, Prudential Financial (PFI), Goldman Sachs and MS&AD Insurance Group, together with other long-term institutional investors.
Capital will be drawn over five years, subject to regulatory approval.
The partnership is designed to allow Standard Life to support a wider range of defined benefit (DB) schemes including the "largest and most complex".
Of the total £2bn commitment, £500m will be provided by Standard Life, funded through yearly excess cash generation, while the balance will come from the consortium, led by CVC and PFI.
#financial
The consortium consists of CVC Capital Partners, Prudential Financial (PFI), Goldman Sachs and MS&AD Insurance Group, together with other long-term institutional investors.
Capital will be drawn over five years, subject to regulatory approval.
The partnership is designed to allow Standard Life to support a wider range of defined benefit (DB) schemes including the "largest and most complex".
Of the total £2bn commitment, £500m will be provided by Standard Life, funded through yearly excess cash generation, while the balance will come from the consortium, led by CVC and PFI.
#financial
2 months ago
When it was revealed on Tuesday that Fenway Sports Group (FSG) had actually sold about 38% of Liverpool to 1892 Holdings, there was certainly an element of confusion.
On Friday, the understanding was that the Jeff Bezos-backed consortium had purchased about a third of Liverpool - and BBC Sport was informed that speculation placing the investment in the range of approximately 30% to 33% was "directionally accurate".
So why was a different figure reported just four days later?
FSG's policy is not to publicly disclose precise ownership stakes but, with numbers circulating before the official announcement, the Boston-based conglomerate was keen to indicate what was being reported was in the right territory, rather than simply referring to it as a "minority investment".
The chain of events, though, has led to some at Liverpool privately asking why FSG was not more transparent, seeing the confusion as unnecessary.
#fenway #holdings
On Friday, the understanding was that the Jeff Bezos-backed consortium had purchased about a third of Liverpool - and BBC Sport was informed that speculation placing the investment in the range of approximately 30% to 33% was "directionally accurate".
So why was a different figure reported just four days later?
FSG's policy is not to publicly disclose precise ownership stakes but, with numbers circulating before the official announcement, the Boston-based conglomerate was keen to indicate what was being reported was in the right territory, rather than simply referring to it as a "minority investment".
The chain of events, though, has led to some at Liverpool privately asking why FSG was not more transparent, seeing the confusion as unnecessary.
#fenway #holdings
2 months ago
When it was revealed on Tuesday that Fenway Sports Group (FSG) had actually sold about 38% of Liverpool to 1892 Holdings, there was certainly an element of confusion.
On Friday, the understanding was that the Jeff Bezos-backed consortium had purchased about a third of Liverpool, and BBC Sport was informed that speculation placing the investment in the range of approximately 30% to one-third was "directionally accurate".
So why was a different figure reported just four days later?
FSG's policy is not to publicly disclose precise ownership stakes, but with numbers circulating from various outlets before the official announcement on Friday, the Boston-based conglomerate was keen to give some sense of scale and indicate that what was being reported was in the right territory, rather than simply referring to it as a 'minority investment'.
When it was confirmed the minority stake purchased was closer to 40% there was a perception that the club were downplaying the investment.
#Friday #minority
On Friday, the understanding was that the Jeff Bezos-backed consortium had purchased about a third of Liverpool, and BBC Sport was informed that speculation placing the investment in the range of approximately 30% to one-third was "directionally accurate".
So why was a different figure reported just four days later?
FSG's policy is not to publicly disclose precise ownership stakes, but with numbers circulating from various outlets before the official announcement on Friday, the Boston-based conglomerate was keen to give some sense of scale and indicate that what was being reported was in the right territory, rather than simply referring to it as a 'minority investment'.
When it was confirmed the minority stake purchased was closer to 40% there was a perception that the club were downplaying the investment.
#Friday #minority
2 months ago
The consortium including Amazon founder Jeff Bezos actually bought 38 percent of Liverpool from Fenway Sports Group.
1892 Holdings, a group led by Amit Bhatia and also including Facebook co-founder Eduardo Saverin, were thought to have acquired between 30 percent and one third of the club.
Their purchase of shares, for more than £1.5bn, came as Liverpool were valued at over £5bn.
The deal also includes a framework for future investment by 1892, although neither they nor FSG are committed to it.
Bezos, with an estimated worth of $270bn, is one of the world's richest men while Saverin and the Indian steel magnate Lakshmi Mittal, Bhatia's father-in-law, are both also reportedly worth more than $30bn.
#group #founder #jeff
1892 Holdings, a group led by Amit Bhatia and also including Facebook co-founder Eduardo Saverin, were thought to have acquired between 30 percent and one third of the club.
Their purchase of shares, for more than £1.5bn, came as Liverpool were valued at over £5bn.
The deal also includes a framework for future investment by 1892, although neither they nor FSG are committed to it.
Bezos, with an estimated worth of $270bn, is one of the world's richest men while Saverin and the Indian steel magnate Lakshmi Mittal, Bhatia's father-in-law, are both also reportedly worth more than $30bn.
#group #founder #jeff
2 months ago
Sheffield United's owners face a winding-up order in the High Court on Wednesday which could mean the club incur a 12-point deduction in the Championship this season.
The case is related to the purchase of the club in December 2024 by COH Sports Bidco Limited (CSBL), an American-based consortium.
CSBL agreed to buy the Blades for just over £100m but, according to the club's former owners United World, still owes more than £35m from the deal.
The winding-up petition was filed against CSBL - not the football club - on 8 July, and is due before the High Court on Wednesday.
If the £35m is not paid, or an agreement is not reached, CSBL could be wound up.
#court #owners #winding #december
The case is related to the purchase of the club in December 2024 by COH Sports Bidco Limited (CSBL), an American-based consortium.
CSBL agreed to buy the Blades for just over £100m but, according to the club's former owners United World, still owes more than £35m from the deal.
The winding-up petition was filed against CSBL - not the football club - on 8 July, and is due before the High Court on Wednesday.
If the £35m is not paid, or an agreement is not reached, CSBL could be wound up.
#court #owners #winding #december
2 months ago
It's been revealed that the Amit Bhatia-led consortium which has recently invested in Liverpool Football Club purchased a significantly larger stake than initially reported.
The Merseyside club confirmed last Friday that current owners Fenway Sports Group (FSG) had sold a minority stake to 1892 Holdings, with The Athletic reporting that sources with knowledge of the transaction estimated the purchase to have been approximately 30%.
However, the same outlet has now indicated that the consortium – which also includes Amazon founder Jeff Bezos and Facebook co-founder Eduardo Saverin – has actually bought a much larger share in LFC.
On Tuesday lunchtime, The Athletic reported that FSG sold 38% of Liverpool FC to 1892 Holdings, as confirmed to the publication by sources with knowledge of the deal, who spoke on the condition of anonymity.
Initial suggestions on both sides of the transaction had initially indicated that the stake purchased was closer to the 30%-33.3% bracket.
#holdings #consortium
The Merseyside club confirmed last Friday that current owners Fenway Sports Group (FSG) had sold a minority stake to 1892 Holdings, with The Athletic reporting that sources with knowledge of the transaction estimated the purchase to have been approximately 30%.
However, the same outlet has now indicated that the consortium – which also includes Amazon founder Jeff Bezos and Facebook co-founder Eduardo Saverin – has actually bought a much larger share in LFC.
On Tuesday lunchtime, The Athletic reported that FSG sold 38% of Liverpool FC to 1892 Holdings, as confirmed to the publication by sources with knowledge of the deal, who spoke on the condition of anonymity.
Initial suggestions on both sides of the transaction had initially indicated that the stake purchased was closer to the 30%-33.3% bracket.
#holdings #consortium
2 months ago
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Shares of Wendy's Co. jumped Wednesday after the Financial Times reported that activist investor Nelson Peltz is laying groundwork for a bid to take the fast-food chain private.
According to the report, Peltz's Trian Fund Management is **** embling a consortium that could include BlueFive Capital and Flynn Group, one of Wendy's largest franchisees.
A formal bid could land within weeks, though the timeline may shift or an offer may never materialize.
Don't Miss:
#wednesday
Shares of Wendy's Co. jumped Wednesday after the Financial Times reported that activist investor Nelson Peltz is laying groundwork for a bid to take the fast-food chain private.
According to the report, Peltz's Trian Fund Management is **** embling a consortium that could include BlueFive Capital and Flynn Group, one of Wendy's largest franchisees.
A formal bid could land within weeks, though the timeline may shift or an offer may never materialize.
Don't Miss:
#wednesday
2 months ago
Liverpool's decision to sell a minority stake to a consortium of financial heavy hitters including Amazon founder Jeff Bezos is the latest move in the battle for supremacy between the American owners in the Premier League.
Just four months after ******* nal won the Premier League under the ownership of US billionaire Stan Kroenke, Liverpool's hierarchy have opted for outside investment in a bid to regain the crown.
Armed with the cash generated by selling around a third of the club to Bezos and company, Liverpool will seek to dethrone ******* nal and claim a record 21st English ******* le.
Joining the fight for Premier League bragging rights are Manchester United, majority-owned by US family the Glazers and Chelsea, whose ownership group is headed by American Todd Boehly.
Aston Villa, last season's Europa League winners, are among six other Premier League clubs in which Americans hold ownership stakes.
#league #premier
Just four months after ******* nal won the Premier League under the ownership of US billionaire Stan Kroenke, Liverpool's hierarchy have opted for outside investment in a bid to regain the crown.
Armed with the cash generated by selling around a third of the club to Bezos and company, Liverpool will seek to dethrone ******* nal and claim a record 21st English ******* le.
Joining the fight for Premier League bragging rights are Manchester United, majority-owned by US family the Glazers and Chelsea, whose ownership group is headed by American Todd Boehly.
Aston Villa, last season's Europa League winners, are among six other Premier League clubs in which Americans hold ownership stakes.
#league #premier
2 months ago
The consortium, including Jeff Bezos, has reached a definitive agreement to buy a minority stake in Liverpool from majority owners Fenway Sports Group for more than £1.5bn.
1892 Holdings, led by former QPR director Amit Bhatia and including Amazon owner Bezos and Eduardo Saverin, one of the founders of Facebook, will have a share of between 30 per cent and one-third in the Premier League club.
FSG will retain operational control and run day-to-day operations, with no change to the leadership to the club. John W Henry remains principal owner, Tom Werner chairman and Mike Gordon president while the club's strategy and broader principles remain the same.
Jeff Bezos has a wealth of roughly $270bn (AFP/Getty)
While Bezos is one of the world's richest men, with a wealth of roughly $270bn, there will not be a change to Liverpool's transfer budget or policy, with no new funds for manager Andoni Iraola as he looks to bolster his squad. The club are also bound by financial sustainability rules while transfer decisions remain up to the club's sporting side, led by director of football Richard Hughes.
#including #director #change #wealth
1892 Holdings, led by former QPR director Amit Bhatia and including Amazon owner Bezos and Eduardo Saverin, one of the founders of Facebook, will have a share of between 30 per cent and one-third in the Premier League club.
FSG will retain operational control and run day-to-day operations, with no change to the leadership to the club. John W Henry remains principal owner, Tom Werner chairman and Mike Gordon president while the club's strategy and broader principles remain the same.
Jeff Bezos has a wealth of roughly $270bn (AFP/Getty)
While Bezos is one of the world's richest men, with a wealth of roughly $270bn, there will not be a change to Liverpool's transfer budget or policy, with no new funds for manager Andoni Iraola as he looks to bolster his squad. The club are also bound by financial sustainability rules while transfer decisions remain up to the club's sporting side, led by director of football Richard Hughes.
#including #director #change #wealth
2 months ago
A consortium spearheaded by Amit Bhatia, featuring the founders of Facebook and Amazon, finalized an investment agreement with Fenway Sports Group for a 30% stake in Liverpool FC, believed to be valued at approximately £1.4 billion ($1.9 billion) on Friday.
While former Queens Park Rangers director Bhatia ******* umes the new role of vice-chairman at Liverpool, it is understood that Amazon founder Jeff Bezos, the consortium's most prominent figure, will not hold a seat on the restructured board.
Bezos ranks as the third-wealthiest individual on the planet with an estimated fortune of £204 billion ($276.1 billion) and serves as the lead investor from the K5 Sports fund within the 1892 Holdings group, which has acquired roughly a third of the shares at Anfield, as per the Liverpool Echo.
-Credit:Adam Jacobs, Getty Images
Instead, Bryan Baum, the managing partner of K5 Global, will represent Bezos on Liverpool's newly configured board of directors.
#amit
While former Queens Park Rangers director Bhatia ******* umes the new role of vice-chairman at Liverpool, it is understood that Amazon founder Jeff Bezos, the consortium's most prominent figure, will not hold a seat on the restructured board.
Bezos ranks as the third-wealthiest individual on the planet with an estimated fortune of £204 billion ($276.1 billion) and serves as the lead investor from the K5 Sports fund within the 1892 Holdings group, which has acquired roughly a third of the shares at Anfield, as per the Liverpool Echo.
-Credit:Adam Jacobs, Getty Images
Instead, Bryan Baum, the managing partner of K5 Global, will represent Bezos on Liverpool's newly configured board of directors.
#amit
