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Yahoo Finance's LaToya Harding breaks down the latest overseas.
Yahoo Finance's LaToya Harding breaks down the latest overseas.
Taiwan sees a limited impact on its economy and its key semiconductor industry from its COVID-19 outbreak and is well prepared to ensure chip fabs can operate as normal, officials said on Tuesday. Tech-heavyweight Taiwan is experiencing an unusual spike in domestic cases after months of keeping the pandemic well under control, and has closed schools across the island and tightened curbs in the capital, Taipei. National Development Council Minister Kung Ming-hsin told reporters that as long as the outbreak can be brought under control by the end of June then there would only be a 0.16 percentage point hit to gross domestic product.
Rhodes ferry operator Paris Kakas cannot afford another summer lost to the pandemic if he is ever to repay the millions of euros he owes: "When the bank comes asking, we say: sorry." Greece is counting on salvaging this summer season to head off a wave of insolvencies among tourism businesses, already on their knees after a disastrous 2020. "Last year, essentially, we stopped paying," said Kakas, whose ferry company Sea Dreams saw revenue collapse when the coronavirus pandemic brought travel to an abrupt standstill.
After the postponement of the Tokyo 2020 Games due to the global health crisis, the Paralympic Games are now set begin on Aug. 24 and Parsons said it was time to focus on the "incredible experience" athletes will have in Japan. A spike in COVID-19 infections in Japan has led to health experts and medical groups voicing their concerns about the Olympics, while an online petition calling for the Games to be cancelled was signed by hundreds of thousands of people. But Parsons said athletes can be assured of a safe experience in Tokyo, with COVID-19 testing, restrictions on movement and reduction in the number of attendees among the measures in place.
Ariana Grande married Dalton Gomez in a “tiny and intimate” ceremony.
RESULT OF RIKSBANK REVERSED AUCTIONS KOMMUNINVEST BONDS Auction date2021-05-18Loan2302Coupon0.75 %ISIN-codeSE0009662943Maturity2023-02-22Tendered volume, SEK mln500 +/- 250Volume offered, SEK mln2,200 Volume bought, SEK mln500 Number of bids7 Number of accepted bids3 Average yield-0.051 %Lowest accepted yield-0.053 %Highest yield-0.050 %% accepted at lowest yield 33.33 Auction date2021-05-18Loan2602Coupon0.75 %ISIN-codeSE0013745452Maturity2026-02-04Tendered volume, SEK mln750 +/- 350 Volume offered, SEK mln3,000 Volume bought, SEK mln750 Number of bids5 Number of accepted bids3 Average yield0.343 %Lowest accepted yield0.342 %Highest yield0.344 %% accepted at lowest yield 25.00
Caitlyn Jenner has been criticised for mocking Dr Rachel Levine’s appearance with a post originally shared by Donald Trump Jr.
Sirens wailed just before the Jewish holiday of Shavuot began on Sunday evening, sending Chen Farag and her family once again running for cover as they have dozens of times over the past week since the latest war between Palestinian militants in Gaza and the Israeli military erupted. The city of about 225,000 people is around 30 kilometers (18 miles) north of the Gaza Strip. Six adults, two dogs and a parrot huddled in their home’s reinforced safe room — a routine precaution for hundreds of thousands of Israelis in the country's south.
Randy Holmes/GettyThree decades after they appeared together on In Living Color, David Alan Grier is now playing Jamie Foxx’s father on their new Netflix sitcom Dad Stop Embarrassing Me!—despite just an 11-year age difference between the two comedy icons.On this episode of The Last Laugh podcast, Grier recalls his first impressions of Foxx when he joined that legendary sketch series in its third season and tells some outrageous stories about doing the Super Bowl halftime show, hosting Saturday Night Live twice before turning down a spot in the show’s cast and tackling the rape charges against his one-time mentor Bill Cosby on The Carmichael Show.“I was never on the hip show, the cool show. Never,” Grier says. “When In Living Color came on, it hit so hard, so immediately, I mean, the reference point for all of us was a Black Saturday Night Live. When Eddie Murphy first blew up, there were rumors that Eddie wanted to do a Black Saturday Night Live. So In Living Color was actually that. I remember coming down in this green room we had downstairs and everybody was down there. The coolest, hippest, most famous people. So it was a real buzz, man. And after all those years of working, I was finally on this cool show, this hip show.”Then, Grier reveals, “NBC came and they offered me a spot on SNL. This was after In Living Color. They said, will you join the cast? But for me, it was like, when you’re the host, you call all the shots. So I said, I can’t be in front of the cast and then six months later I’m behind the cast. Like, ‘Isn’t that the dude that was hosting like nine months ago?’ Also, after doing In Living Color, I wanted to do a different kind of show. So I didn’t do it, but I still go and see people on SNL and visit and Lorne [Michaels] and those guys are so gracious.”“I remember after my first time hosting, Lorne called me in his office and he said, ‘David, I want you to think of SNL like your second home. It’s a lot like our relationship that we had with Steve Martin or Tom Hanks,’” he recalls. “Inside my brain’s exploding. And after that, I never heard from Lorne.”Listen to the episode now and subscribe to ‘The Last Laugh’ on Apple Podcasts, Spotify, Google, Stitcher, Amazon Music, or wherever you get your podcasts and be the first to hear new episodes when they are released every Tuesday.Read more at The Daily Beast.Get our top stories in your inbox every day. Sign up now!Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more.
GettyIt’s hard to say what’s a more important site to see on a trip to Yosemite Valley—a bear or a rock climber. After all, Yosemite National Park is the mecca of the rock climbing universe, and only growing ever since the explosion of Alex Honnold’s free solo ascent of El Capitan.In the early 1950s, Camp 4 and rock climbing in the Valley became synonymous with counterculture, with a lifestyle of resistance and flying under the radar, a movement which has evolved and become distorted plenty of times over.While climbers and the National Park Service (NPS) historically haven’t gotten along, relations have improved in recent years. But a week ago, the feud was rekindled after the NPS announced a new two-year pilot program that as of May 21 will require climbers to get a permit in advance if they’re planning on spending the night (or several) on a big wall climb. This includes famous climbs like El Capitan, Half Dome, and the Leaning Tower, among others.If the very idea of sleeping on the side of a wall, suspended in mid-air, thousands of feet off the ground, supported by a layer of nylon and some rope sounds jarring, you’re most likely not a climber. It’s actually common practice for big wall routes that are difficult to complete in one day alone.And while necessitating a permit to sleep on the side of a giant wall might seem like a logical step in protecting the land and the people recreating on it—in fact, Yosemite is the last national park with big wall climbs to implement such a system, and climbing is the only overnight activity in the park that doesn’t require a permit—many local climbers view this move as a “Trojan Horse,” one that they believe will lead to the demise of their sport as they’ve come to know and love it.“They can kiss my ass,” Alex Barlow, a climber from Santee, California, told The Daily Beast. “I’ll come in the middle of the night if I have to. No one is going to tell me I can’t climb.”Others see it as downright unnecessary. Tom Forestieri, a climber from Longmont, Colorado, told The Daily Beast: “It makes no sense. You can’t take a number like at a deli to climb a big wall. What if weather comes in and you have to wait until it clears up? Then you miss your window.” He added, “You don't need regulation to control the masses. El Cap does that all by itself.”While the permits for now will not limit the amount of climbers on the wall, and will be free, Forestieri went on to question how the Park Service is planning to enforce this new regulation. “What are they gonna do, climb up and check our permits?” he asked. “Or station a ranger at the top? It’s just stupid.”Not all climbers feel this way—within a week, the feud has evolved into one between “uptown” and “downtown” climbers—bigger names and lesser known ones arguing over the future of the Valley. Some big-name climbers and climbing organizations like Ken Yager, president of the Yosemite Climbing Association, have expressed support for the move, calling it “inevitable,” in an interview with the Fresno Bee.The newspaper reported that Yager “doesn’t know what’s planned after the two-year pilot program, but doesn’t expect climbing permits to be limited anytime in the immediate future.”Katie Goodwin, policy analyst for the Access Fund, told the Daily Beast that they are “cautiously optimistic that the park has good intentions for this permitting program.” She added that the biggest concerns she’s been hearing from climbers has been what the “true intentions of the pilot program are.”“What we are trying to do with the permits is to minimize the impact on walls,” Yosemite climbing ranger Jesse McGann told Climbing recently. “I want people to experience wildness and I want it to be as pristine as possible.”McGann told The Daily Beast how park employees have been more regularly removing bags of human poo from the top of El Capitan, as well as climbing equipment that has been left behind. The park has cited the permits as an effort to collect data on the large number of climbers in the park each year and their impacts on the landscape."We tried education only for a long time, and it just wasn't working," McGann said. "There's been a longstanding exception to the requirement for permits on overnight climbs, and we decided it was time to address this issue." He added that, "This will definitely grow into a permanent system."On the other hand, another coalition of climbers, like Jim Hornibrook, from Redwood City, California, believe federal government involvement is unnecessary and will only lead to all climbing in Yosemite being intensely regulated. “We’ve been a successfully self-regulating community for over 60 years,” Hornibrook told the Daily Beast.Hornibrook described how whenever issues arose in the Valley, climbers were first to handle them. Examples include when Camp 4 was planned to be destroyed by the park service to be turned into a three-story employee housing unit, a cadre of climbers took legal action to have it listed on the National Register of Historical Places.Similar action was taken when trash was becoming an issue in the park. In 2004, Yager began the highly successful Yosemite Facelift, a day dedicated to cleaning up the park with help from climbing volunteers.“What’s the difference this time, that we need to have the rangers step in?” Hornibrook asked.McGann denied this claim, telling the Daily Beast: "They say they are self-policing but that's just not true." And yet, perhaps the biggest issue isn’t even the regulations themselves, but the fact that the climbing community writ large wasn’t consulted. The Access Fund told the Daily Beast that they had been talking about the program with the Park Service for years, but only found out it was going to be put in place a week ago. Climbers like Hornibrook view this as a potential sign of things to come.“I think if we are going to do something like this, we should hear more climbers’ voices beforehand,” Hornibrook said. “Even if celebrity climbers see this as inevitable, they should be responsible and use their voices to lead the charge in shaping the policy in order to ensure it minimizes limits to climber freedom while achieving the broader program goals.”“After all,” he added, “we care about these walls, too. They’re sacred to us. They’re our cathedrals.”"If they truly care about this place like they say," McGann responded, "then they’ll do whatever it takes to ensure it’s pristine for future generations." Read more at The Daily Beast.Get our top stories in your inbox every day. Sign up now!Daily Beast Membership: Beast Inside goes deeper on the stories that matter to you. Learn more.
Smart Home Market Research Report by Product (Energy Management, Entertainment Control, HVAC & R Control, Lighting Systems, and Security & Surveillance System) - Global Forecast to 2025 - Cumulative Impact of COVID-19New York, May 18, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Smart Home Market Research Report by Product - Global Forecast to 2025 - Cumulative Impact of COVID-19" - https://www.reportlinker.com/p05911518/?utm_source=GNW Market Statistics:The report provides market sizing and forecast across five major currencies - USD, EUR GBP, JPY, and AUD. This helps organization leaders make better decisions when currency exchange data is readily available.1. The Global Smart Home Market is expected to grow from USD 79,626.25 Million in 2020 to USD 148,509.53 Million by the end of 2025.2. The Global Smart Home Market is expected to grow from EUR 69,817.81 Million in 2020 to EUR 130,215.98 Million by the end of 2025.3. The Global Smart Home Market is expected to grow from GBP 62,068.18 Million in 2020 to GBP 115,762.28 Million by the end of 2025.4. The Global Smart Home Market is expected to grow from JPY 8,498,139.24 Million in 2020 to JPY 15,849,730.38 Million by the end of 2025.5. The Global Smart Home Market is expected to grow from AUD 115,627.91 Million in 2020 to AUD 215,655.59 Million by the end of 2025.Market Segmentation & Coverage:This research report categorizes the Smart Home to forecast the revenues and analyze the trends in each of the following sub-markets:Based on Product, the Smart Home Market studied across Energy Management, Entertainment Control, HVAC & R Control, Lighting Systems, and Security & Surveillance System. Based on Geography, the Smart Home Market studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas region surveyed across Argentina, Brazil, Canada, Mexico, and United States. The Asia-Pacific region surveyed across China, India, Indonesia, Japan, Malaysia, Philippines, South Korea, and Thailand. The Europe, Middle East & Africa region surveyed across France, Germany, Italy, Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, United Arab Emirates, and United Kingdom. Company Usability Profiles:The report deeply explores the recent significant developments by the leading vendors and innovation profiles in the Global Smart Home Market including ABB Ltd, ADT, Alarm.com, Inc, Amazon Inc, Apple Inc., Armorax, Assa Abloy AB, Axis Communications AB, Blink Home, BuildingIQ, Cisco Systems Inc., Comcast Corporation, Control4, Delta Controls Inc., Emerson Electric Corporation, General Electric, Google Inc., Honeywell International Inc, Johnson Controls Inc., Legrand SA, LG Electronics Inc., Lutron Electronics Co. Inc., Robert Bosch GmbH, Schneider Electric SE, Siemens AG, SimpliSafe, SONY Corporation, The Samsung Group, United Technologies Corporation, and Vivint Smart Home, Inc.. Cumulative Impact of COVID-19:COVID-19 is an incomparable global public health emergency that has affected almost every industry, so for and, the long-term effects projected to impact the industry growth during the forecast period. Our ongoing research amplifies our research framework to ensure the inclusion of underlaying COVID-19 issues and potential paths forward. The report is delivering insights on COVID-19 considering the changes in consumer behavior and demand, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments. The updated study provides insights, analysis, estimations, and forecast, considering the COVID-19 impact on the market.FPNV Positioning Matrix:The FPNV Positioning Matrix evaluates and categorizes the vendors in the Smart Home Market on the basis of Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.Competitive Strategic Window:The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies. The Competitive Strategic Window helps the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. During a forecast period, it defines the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth.The report provides insights on the following pointers:1. Market Penetration: Provides comprehensive information on the market offered by the key players2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes the markets3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, and manufacturing capabilities of the leading players5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and new product developmentsThe report answers questions such as:1. What is the market size and forecast of the Global Smart Home Market?2. What are the inhibiting factors and impact of COVID-19 shaping the Global Smart Home Market during the forecast period?3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Smart Home Market?4. What is the competitive strategic window for opportunities in the Global Smart Home Market?5. What are the technology trends and regulatory frameworks in the Global Smart Home Market?6. What are the modes and strategic moves considered suitable for entering the Global Smart Home Market?Read the full report: https://www.reportlinker.com/p05911518/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________ CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001
Prada's Ion Orchard store has a new installation that's guaranteed to put smiles on faces with its beach-themed 'shop'.
Supercar brand Lamborghini plans to invest $1.5 billion to produce an entirely gas-electric hybrid lineup by 2024, but its first fully electric model will not appear until the second half of the decade, the brand's CEO said. Lamborghini, part of Volkswagen AG's Volkswagen Group, and other players in the rarified market for high-performance sports cars, including Ferrari NV, Aston Martin Lagonda and McLaren, are wrestling with how to shift their lineups to battery power without losing the visceral performance that supports their premium pricing https://www.reuters.com/business/autos-transportation/how-mclaren-aims-rebuild-supercars-roar-into-electric-era-2021-02-16. Lamborghini's plan is to shift its current models - the Huracan and Aventador sports cars and the Urus sport utility - to hybrid, gasoline-electric powertrains by the end of 2024, the brand's chief executive, Stephan Winkelmann, told reporters in a video briefing ahead of Tuesday's announcement.
The 31-year-old promised she would share news with her fans if she had any.
The European Union is set to call for a ceasefire in fighting between Israel and Palestinian Islamist group Hamas at an emergency video meeting on Tuesday, but divisions over the Middle East will marginalise the bloc's role, diplomats said. U.S. President Joe Biden expressed support for a ceasefire during a call with Israeli Prime Minister Benjamin Netanyahu on Monday and the EU's foreign policy chief Josep Borrell convened a video call of the EU's 27 foreign ministers from 1200 GMT. "We have reached out to partners to see how we can defuse and contribute to stopping this very dangerous and worrying escalation of violence," said Borrell's spokesman, Peter Stano, referring to the fiercest hostilities between Israel and the Palestinians in years.
Arsenal are to face Hibernian in a preseason friendly this summer as part of a mini-tour of Scotland. The Gunners had already confirmed a preseason game at Ibrox against Rangers on July 17, a match which will commemorate the newly-crowned Scottish champions’ 150th anniversary. “The matches against Hibs and Rangers will be good tests for us and we’re looking forward to playing against two strong opponents,” Arteta said.
The "2021 North America Consumer Sentiment Study" report has been added to ResearchAndMarkets.com's offering.
Dublin, May 18, 2021 (GLOBE NEWSWIRE) -- The "Nanomaterials Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029" report has been added to ResearchAndMarkets.com's offering. The global nanomaterials market accounted for US$ 10.34 Bn in 2020 and is anticipated to grow to US$ 38.17 Bn by 2029 growing at a CAGR of 17.8% throughout the forecast period from 2021 to 2029.Increasing applications of nanomaterials and on-going research and development for developing new and advanced materials are factors bolstering the growth of nanomaterials market. The combination of factors including excellent physio-chemical properties of nanomaterials, financial support from government organizations, and rising application of these materials in healthcare, and automotive among others are driving the demand of nanomaterials market globally. The rapidly growing nanotechnology and nanoscience domain are also having a positive influence on the growth of the global nanomaterials market. Apart from this the growing use of nanomedicines in the healthcare industry and emerging applications in electronics industry are further boosting the nanomaterials market growth.Additionally, increasing availability of various methods and tools to synthesize nanomaterials such as covalent synthesis, and self-assembly among others are enhancing the market growth. The benefits offered by nanomaterials include high surface to volume ratio, high porosity, and enhanced physio-chemical properties among others. However, factors such as high cost of nanomaterials and stringent environmental regulations may hamper the growth of the market.Type AnalysisCarbon-based segment to dominate the market during the forecast period.Based on product, the nanomaterials market is classified into carbon-based (nanotubes, fullerenes, and grapheme), metal based (silver, gold, nickel, and quantum dots), dendrimers (nanoclay and nanocellulose), and composites segments. Carbon-based segment dominated the global nanomaterials market. This can be attributed with the various benefits offered by it including high strength, light weight, flexibility, and durability among others. In addition, the rising application of carbon-based materials in various industries such as aerospace & defense and automotive among others for making air frame structure, and engine parts etc. are proliferating the nanomaterials market growth.In contrast, composites segment is projected to grow with the highest CAGR throughout the forecast period. This is due to their wide applications including catalysts, metal semiconductor junctions, and optical sensors among others.Regional AnalysisRising foreign investments to bolster the growth in Asia Pacific regionIn 2020, North America region dominated the global nanomaterials market and contributed a share of more than 30% of revenue generated worldwide. The major share of which comes from the US which held the largest market in North America with a share of more than 80%. This can be associated with, large application and use of nanotechnology in various end-use industries including electronics, healthcare and chemical among others.In contrast, Asia Pacific region is expected to expand rapidly during the forecast period. Owing to the rising demand of nanotechnology, increasing spending by organizations towards research and development in the region, and support from government among others. For instance, in 2021, BASF a leading nanotechnology company spend almost Euros 2.03 Bn in research and development activities. The increasing demand of specialty materials in the region and rapidly growing industries such as energy, healthcare, and construction among other in countries including China, and India among others are proliferating the growth of nanomaterials market. The nanomaterials market is led by Japan in the Asia Pacific region followed by China, India and South Korea. This can be attributed to Japan being technological hub with highest consumption of electronic products. Key Industry Development: In January 2020, Cabot Corporation announced its plan to acquire Shenzhen Sanshun Nano New Materials Co., Ltd. A leading carbon nanotube producer. Though this acquisition Cabot Corporation strengthens its position in batteries market especially in Asia Pacific region.In October 2018, Cabot Corporation announced the acquisition of NSCC Carbon Co. Ltd. From Nippon Steel Carbon Company Ltd. This acquisition is expected to enhance the company's production capacity as well as extend its product portfolio. Historical & Forecast PeriodThis study report represents analysis for each segment from 2019 to 2029 considering 2020 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2021 to 2029.The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that gives a better market understanding of the overall nanomaterials market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.Key questions answered in this report What are the current market trends and dynamics in the nanomaterials market and valuable opportunities for emerging players?Estimated forecast and market projections up to 2029Which segment accounts for the fastest CAGR during the forecast period?Which type segment holds a larger market share and why?Are low and middle-income economies investing in the nanomaterials market?Which is largest regional market for nanomaterials?What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America and Middle East & Africa?Worldwide market value of the nanomaterials market in 2019 and 2020Which are the key trends driving the global nanomaterials market growth?Who are the leading manufacturers in the nanomaterials market worldwide? Key Topics Covered: 1. Preface2. Executive Summary3. Market Dynamics3.1. Introduction3.1.1. Global Nanomaterials Market Value, 2019 - 2029, (US$ Bn)3.2. Market Dynamics3.2.1. Market Drivers3.2.2. Market Restraints3.3. Attractive Investment Proposition, by Geography, 20203.4. Market Positioning of Key Players, 20203.4.1. Major Strategies Adopted by Key Players4. Global Nanomaterials Market, by Type , 2019 - 2029 (US$ Bn)4.1. Overview4.2. Carbon-based4.2.1. Nanotubes4.2.2. Fullerenes4.2.3. Graphene4.3. Metal based4.3.1. Silver4.3.2. Gold4.3.3. Nickel4.3.4. Quantum Dots4.4. Dendrimers4.4.1. Nanoclay4.4.2. Nanocellulose4.5. Composites5. Global Nanomaterials Market, by Application, 2019 - 2029 (US$ Bn)5.1. Overview5.2. Industrial & Manufacturing5.3. Automotive5.4. Aerospace & Defense5.5. Healthcare5.6. Energy5.7. Paints & Coatings5.8. Electronics & Consumer Goods5.9. Others (Personal Care)6. North America Nanomaterials Market Analysis, 2019 - 2029 (US$ Bn)7. Europe Nanomaterials Market Analysis, 2019 - 2029 (US$ Bn)8. Asia Pacific Nanomaterials Market Analysis, 2019 - 2029 (US$ Bn)9. Rest of the World Nanomaterials Market Analysis, 2019 - 2029 (US$ Bn) 10. Company Profiles10.1. Ahlstrom10.2. BASF SE10.3. Bayer AG10.4. Chasm Technologies Ltd.10.5. CNANO Technologies Ltd.10.6. Cabot Corporation10.7. Elmarco10.8. Finetex ENE10.9. Glonatech SA10.10. Kuraray10.11. Nanocyl SA10.12. Nanoviricides10.13. Sumitomo10.14. Showa Denko10.15. Zyvex Technologies. For more information about this report visit https://www.researchandmarkets.com/r/6yazke CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
(Bloomberg) -- Heineken NV, the world’s second-largest brewer, is in talks about a takeover of South African wine and spirits maker Distell Group Holdings Ltd.Heineken approached Distell about a possible acquisition of most of its business, the South African company said Tuesday, confirming an earlier Bloomberg News report. Distell is considering its options, spokesman Frank Ford said by phone.Distell shares jumped as much as 10%, hitting an intraday record. They were up 5.6% at 9:25 a.m. Tuesday in Johannesburg, giving the company a market capitalization of 33.6 billion rand ($2.4 billion).Shares of Heineken advanced 0.9% in Amsterdam, valuing the brewer at 57 billion euros ($70 billion). Discussions are ongoing, though there’s no certainty they will lead to a transaction, Heineken said Tuesday.Distell produces Klipdrift brandy, Nederburg wine, Amarula cream liqueur, Savanna cider and Bain’s Cape Mountain Whisky. Remgro Ltd., an investment vehicle of South African billionaire Johann Rupert, and Public Investment Corp., Africa’s biggest pension fund, each hold a little more than 30% of Distell, according to data compiled by Bloomberg.The PIC increased its stake in 2017 after a shakeup of the drinks maker’s ownership structure, paying 170 rand a share. That’s 19% higher than Distell’s share price at the close on Monday, before the talks were announced.An acquisition would be Heineken’s most significant transaction since 2018, when it formed a partnership with China Resources Beer Holdings Co., maker of the country’s best-selling beer. A purchase would add to $7.4 billion of deals announced in the global beverage industry this year, about 15% less than at this point in 2020, according to data compiled by Bloomberg.Heineken is emerging from one of the beer sector’s toughest crises. Despite gains in Vietnam and Mexico, the brewer is still facing setbacks in key markets such as Brazil and the U.K. where restrictions on movement and sales have hurt demand. Earlier this year, the company laid off 8,000 employees. The brewer surprised analysts in April with stable first-quarter sales as emerging markets made up for declines in Europe.South Africa was one of Heineken’s best-performing markets, which is surprising given the country’s recurring ban on alcohol.Any deal for Distell would see Heineken Chief Executive Officer Dolf van den Brink, who took charge last June, make progress expanding into categories that have historically been more profitable than brewing, including liquor. It will also accelerate the decades-long strategy of his predecessor Jean-Francois van Boxmeer. During his tenure, van Boxmeer sought to tap growth opportunities in Africa, investing hundreds of millions of euros in promising markets such as Cote d’Ivoire, Nigeria and South Africa.(Adds details from statement in second paragraph, details on Distell shareholders in fifth and sixth paragraphs)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
It will be the first time the contraptions will legally be allowed on the capital’s roads
Vicky Head said there had been a ‘massive rise’ in new cases.