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Business Apr 07, 2026

Bill Ackman's Pershing Square Makes €50bn Takeover Bid for Universal Music

Billionaire Bill Ackman's hedge fund, Pershing Square, has offered to buy Universal Music Group in …
Universal Music Group (UMG), the world's largest music company, has received a takeover offer from billionaire Bill Ackman's hedge fund, Pershing Square. The deal values UMG at over €50bn (£44bn). Pershing Square, based in New York, has offered a cash and stock deal to acquire the business, which is home to renowned artists such as Taylor Swift and Elton John.Ackman stated that while UMG, led by British-born Sir Lucian Grainge, has done an excellent job in nurturing its artist roster and generating strong business performance, its share price has lagged due to issues unrelated to the performance of its music business. He specifically mentioned the delay in UMG's US listing, underutilization of its balance sheet, and uncertainty around the French conglomerate Bolloré Group's 18% stake in the company.Shares in UMG, listed in Amsterdam since 2021, have lost more than a quarter of their value in the past year. The company is one of the 'big three' record labels, alongside Sony Music Entertainment and Warner Music Group, with a diverse roster ranging from classical music to stars like Adele, Drake, and Ariana Grande.Ackman also cited a 'lack of investor credit' in the company's valuation of its €2.7bn stake in the music streaming service, Spotify. Pershing Square, which Ackman established in 2004, controls over $26bn in assets and bought a 10% stake in UMG in 2021.As part of the proposed deal, Pershing Square would add Michael Ovitz, a veteran talent agent, as chair, along with two representatives from Pershing Square to UMG's board. The deal would also involve a new employment contract and compensation arrangement for Sir Lucian Grainge. Under the terms, UMG would merge with a blank-cheque company set up by Pershing Square and then list on the New York Stock Exchange. Shareholders would receive a total of €9.4bn in cash and 0.77 shares in the new company for every Universal share they own, representing a 78% premium compared to the company's closing share price on Thursday.
#Bill Ackman #Pershing Square #Universal Music Group
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Technology Apr 07, 2026

Artemis II Sets New Human‑Space Distance Record During Historic Lunar Flyby

On 6 April 2026, NASA’s Artemis II mission broke the record for the farthest distance traveled by h…
Monday, 6 April 2026 marks the most consequential day for human spaceflight in over half a century, as NASA’s Artemis II mission prepares to eclipse the Apollo 13 distance record.At 13:56 EDT (17:56 GMT) the Orion spacecraft will pass the 400,171 km (248,655 mi) mark set by Apollo 13, and by 19:07 EDT (23:07 GMT) it is slated to reach a maximum of 406,773 km (252,760 mi) from Earth – roughly 6,600 km farther than any human has ever traveled.The Artemis programme is NASA’s multi‑decade effort to return people to the Moon, establish a sustainable presence there, and use the lunar foothold as a springboard to Mars. The initiative currently comprises five missions (Artemis I‑V).Artemis I, an uncrewed test flight launched on 16 November 2022, spent 25 days orbiting Earth and validating Orion’s performance, paving the way for the crewed flight.Artemis II lifted off from Kennedy Space Centre on 1 April 2026 at 18:35 EDT (22:35 GMT) with a four‑astronaut crew for a ten‑day deep‑space test.Crew members:Reid Wiseman (50), commander – veteran ISS commander and test pilot.Victor Glover (49), pilot – first Black astronaut assigned to a lunar mission; previously flew on SpaceX Crew‑1.Christina Koch (47), mission specialist – holds the record for longest single women’s spaceflight (328 days) and has extensive EVA experience.Jeremy Hansen (50), mission specialist – Canada’s first astronaut to travel to the Moon, former fighter pilot.The crew will manually pilot Orion at key phases, verify life‑support, propulsion, power, thermal control, navigation and proximity‑operations systems, and rehearse critical procedures such as course corrections, long‑range communications, re‑entry and splashdown.Scientific work will include lunar observations, human‑health experiments, and extensive photography. On 2 April, Commander Wiseman captured a striking “Hello, World” image of Earth from Orion, showing upside‑down continents, vivid auroras, city lights across Africa, Europe and South America, and a faint zodiacal glow.Nutrition for the ten‑day flight comes from a fixed menu of 189 shelf‑stable items – tortillas, nuts, beef brisket, macaroni‑and‑cheese, cookies, chocolate, and rehydratable drinks – all prepared without a refrigerator, using a water dispenser and a small heater to keep crumbs from floating in microgravity.NASA plans the splashdown in the Pacific Ocean near San Diego at about 20:07 EDT on 10 April 2026. Recovery helicopters will retrieve the crew for medical checks aboard the USS John P Murtha before they return to Johnson Space Center in Houston.The Moon lies an average 384,400 km (238,855 mi) from Earth – roughly ten Earth‑equator circumferences. Its diameter is about one‑third that of Earth; if Earth were a basketball, the Moon would be a tennis ball. Surface temperatures swing from –173 °C (–180 °F) at night to 127 °C (260 °F) in daylight, and gravity is only one‑sixth of Earth’s, so a 60 kg person would feel the weight of a 10 kg mass.Between 1961 and 1972 NASA’s Apollo programme conducted 33 missions (11 crewed, 22 uncrewed), achieving six successful lunar landings. The last humans to walk on the Moon were Eugene Cernan and Harrison Schmitt on 14 December 1972 (Apollo 17).Other nations have also left their mark: the Soviet Luna 9 (1966) delivered the first soft‑landing images, China’s Chang’e 4 (2019) explored the far side, and India’s Chandrayaan‑3 (2023) achieved the first soft landing near the lunar south pole – a region rich in permanently shadowed craters that may hold water ice.Looking ahead, Artemis III (targeted for 2027) will test integrated operations in low Earth orbit with commercial landers, Artemis IV (early 2028) aims for the first crewed lunar landing since Apollo 17 at the south pole, and Artemis V (late 2028) will begin construction of a lunar base.
#moon #artemis #mission
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News Apr 07, 2026

Trump admits US supplied guns to Iranian protesters, bolstering Tehran's claim of foreign‑backed unrest amid escalating US‑Israel war

In a Sunday interview, President Donald Trump confirmed that the United States sent firearms to Ira…
President Donald Trump told Fox News host Trey Yingst that the United States had dispatched a substantial cache of firearms to Iranian protesters, routing them through Kurdish groups. He said, “We sent them a lot of guns. We sent them to the Kurds,” and added that the Kurds likely kept the weapons. This admission lends weight to Tehran’s long‑standing narrative that the December‑January demonstrations were not spontaneous but were driven by “foreign‑backed terrorists.” Iran’s Supreme Leader Ali Khamenei has repeatedly blamed the United States and Israel for hijacking the economic unrest that began on December 28, when Tehran shopkeepers protested the plunging rial. The protests quickly spread nationwide, drawing hundreds of thousands onto the streets. Rights groups and the United Nations report that at least 5,000 people were killed, with some estimates suggesting the death toll could rise to 20,000. The crackdown also saw thousands arrested and an internet blackout imposed to conceal the violence. As the US‑Israel war on Iran entered its 38th day, official tallies record 2,076 deaths and over 26,000 injuries across the country. Despite Trump’s statements, several Kurdish opposition groups have categorically denied receiving any U.S. weapons. A senior official of the Democratic Party of Iranian Kurdistan (KDPI) told Iraqi broadcaster Rudaw that the claims were “baseless,” noting that their armaments are decades‑old and sourced locally. The Komala Party issued a similar denial. Analysts caution that Trump’s remarks are difficult to verify. Neil Quilliam of the United Kingdom’s Chatham House said the comments “reveal nothing material” and may reflect Trump’s personal rhetoric more than concrete policy. Nonetheless, such statements could undermine the cohesion of Iranian opposition groups and influence international perceptions of the conflict. In the broader geopolitical context, the United States has framed its February 28 strikes—carried out jointly with Israel—as a response to Iran’s nuclear program and as a means to “free” Iranians from the Islamic Republic’s repression. Trump linked the military action directly to the protests, claiming Tehran had “killed tens of thousands of its own citizens on the street as they protested.” While Kurdish factions continue to advocate for peaceful, civil protest methods, the U.S. and Israeli governments have not yet committed to ground operations in Iran. Opposition Democrats in the U.S. Congress remain skeptical of any escalation involving troops. Overall, Trump’s confirmation of arms shipments adds a new layer to the already complex narrative surrounding the Iranian protests, the US‑Israel military campaign, and the broader struggle for influence in the region.
#trump #iran #iranian
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World Economy Apr 06, 2026

Federal Appeals Court Rules New Jersey Cannot Regulate Kalshi's Prediction Market

A federal appeals court has ruled that New Jersey cannot regulate Kalshi's prediction market, citin…
A federal appeals court has ruled that New Jersey gaming regulators cannot prevent Kalshi from allowing people in the state to use its prediction market to place financial bets on the outcome of sporting events. The decision marks a significant victory for Kalshi and similar prediction market operators.The three-judge panel of the Philadelphia-based third US circuit court of appeals ruled 2-1, finding that the US Commodity Futures Trading Commission (CFTC) has exclusive jurisdiction over the sports-related event contracts that Kalshi allows people to trade on its platform.This ruling is a major setback for states like New Jersey, which had argued that firms like Kalshi were operating without required state licenses, in violation of gaming laws, including bans on wagers by those under 21. New Jersey had sent Kalshi a cease-and-desist letter last year, stating that its listing of sports-related event contracts on its platform violated state gambling laws.Kalshi had sued the state, arguing that its event contracts qualify as “swaps”, a type of derivative contract, that under the Commodity Exchange Act can only be regulated by the CFTC, which had granted the company a license to operate a designated contract market (DCM).The ruling was in line with the position advanced by the CFTC under Donald Trump’s administration. The regulator sued Arizona, Connecticut, and Illinois last week to prevent them from pursuing what it called unlawful efforts to regulate prediction markets.“Congress gave the CFTC exclusive jurisdiction over trades on DCMs, and this decision affirms the goals of Congress,” said Brooke Nethercott, a CFTC spokesperson.However, US circuit judge Jane Richards Roth dissented, saying Kalshi was facilitating gambling and that its “offerings were virtually indistinguishable from the betting products available on online sportsbooks, such as DraftKings and FanDuel”.The New Jersey attorney general's office said it was evaluating its options, including potentially asking the full third circuit to rehear the case.
#kalshi #state #new
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Politics Apr 06, 2026

Labour Urged to Hold Referendum on Rejoining EU

The article argues that Labour should hold a referendum on whether Britain should rejoin the EU, ci…
The UK Prime Minister's recent comments on seeking closer relations with the EU are a step in the right direction, but a piecemeal approach to repairing the damage done by Brexit is unlikely to succeed.A more ambitious plan would be for Labour to announce a referendum on whether the UK should open negotiations on re-entry to the EU, promising a general election to secure a mandate to implement the proposal should the British public vote in favour. This would allow the government to seize the initiative and provide it with an issue around which to rally a broad base of electoral support.This approach would also expose the increasing reluctance of Reform UK and the Conservatives to defend Brexit and silence accusations of the betrayal of British voters.Ultimately, it would provide a practical route for restoring Britain to its rightful place within the EU, at a time when shifts in the global order make that task more urgent than ever.
#Labour Party #European Union #Brexit
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Technology Apr 06, 2026

Australian Scientists Warn AI‑Driven Environmental Approvals Could Mirror ‘Robodebt’ Flaws and Endanger Threatened Species

Conservation experts caution that a $13 million government trial of AI for mining approvals could p…
Conservationists and scientists have warned that the Minerals Council of Australia’s proposal to employ artificial intelligence for faster national environmental approvals could generate “Robodebt‑style” failures, further endangering already vulnerable species.The council has asked the federal government to allocate $13 million for a pilot that would use AI to help companies draft assessment applications and assist regulators in decision‑making.The Biodiversity Council – a consortium of independent experts from eleven universities – told Guardian Australia that while AI may assist with routine tasks, automating whole environmental assessments could lead to opaque, flawed decisions that push threatened species closer to extinction.“Robodebt” refers to the automated welfare‑debt recovery scheme that, between 2015 and 2019, wrongly accused hundreds of thousands of Australians of overpayments, highlighting the danger of opaque algorithmic judgments.Lis Ashby, the Biodiversity Council’s lead on policy and innovation, noted that the cornerstone of Australia’s environmental protection, the Environment Protection and Biodiversity Conservation (EPBC) Act, is riddled with vague language and broad ministerial discretion, which hampers rule‑based decision‑making and would be even more problematic for an AI tool.She added that establishing clear rules in the National Environmental Standards, including explicit definitions of unacceptable outcomes, would accelerate assessment times even without AI and is essential for any future automation.Brendan Sydes, national biodiversity policy adviser at the Australian Conservation Foundation, expressed scepticism, stating that “technology can be a good servant but a poor master.” He urged the government to focus on closing existing data gaps on threatened species and habitats rather than relying on AI.Prof. David Lindenmayer, a forest ecologist at the Australian National University and Biodiversity Council member, highlighted that one‑third of Australia’s threatened species have not been monitored and many others suffer from patchy data, gaps traditionally filled by expert consultation.He warned that AI decisions are only as reliable as the data they are fed, and most threatened species lack publicly available information, even basic location data, risking decisions based on outdated or incomplete evidence.The Albanese government recently passed reforms to the EPBC Act after a 2020 review found the legislation failing to protect species and habitats.Prof. Hugh Possingham, a leading conservation biologist at the University of Queensland, argued that AI models need robust training material, and the past two decades of EPBC approvals are “clearly unsuitable” because the Act has demonstrably failed to safeguard the environment. He suggested that hiring more human assessors would be a more effective way to speed up evaluations.Tania Constable, chief executive of the Minerals Council, dismissed the Robodebt comparison as “disappointing,” insisting the proposal is innovative and could strengthen environmental protection while improving efficiency. She said the AI tools would support human decision‑making for both regulators and project proponents, helping navigate the complexity of EPBC assessments.A federal government spokesperson said budget decisions on the AI trial will be made “in due course,” but the environment department is exploring how AI could simplify application processes. The statement emphasized that “decisions about whether to approve projects must, and will, always be made by assessment officers, not by AI.”Nonetheless, officials acknowledged that AI tools have the potential to save time, reduce uncertainty, and translate technical language for stakeholders.
#species #council #government
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Business Apr 06, 2026

Dozens of Companies at Risk of Losing B Corp Status After Standards Overhaul

The B Corp certification process has been overhauled, raising standards for companies to qualify. D…
The B Corp certification, a coveted ethical status for companies, has undergone its biggest overhaul in 19 years. B Lab, the organisation behind the certification, has raised the standards required to qualify, putting dozens of companies at risk of losing their status. Previously, companies could make up for poor performance in one area by scoring highly in another. However, the new system requires companies to meet 'non-negotiable' standards in every one out of seven categories, with attainment verified by a third-party audit. The overhaul has been partly motivated by changes to EU law that require companies boasting of any ethical standard, including B Corp status, to be rubber-stamped by an external organisation. Sources familiar with the process said that some of the 10,000 companies that have the status will need to improve ethical standards to recertify, which they must do every three years. Analysis by the Guardian of the publicly available B Corp database suggests hundreds are already at, or close to, the 80-point threshold required, even under the old, less onerous system. Of more than 2,000 UK B Corps, more than 60 score exactly 80 points, including the Kent-based digital marketing agency Sleeping Giant Media and VoucherCodes, a website that provides details of discount offers from leading brands. Larger companies will face more extensive requirements under the new standard, including declaring their tax policies and setting science-based emissions targets across all areas of the business. One source said the changes could even affect companies that now score highly, such as the private bank Coutts, which has a score of 107.6 and does not have to recertify until 2028. B Lab UK said: 'Our goal is not for every business to become a B Corp, but for every business to behave like one.'
#B Lab #Patagonia #Ben & Jerry's
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World Economy Apr 06, 2026

Trump’s Affordability Promises Unravel: Prescription Drugs, Housing, and Inflation Remain Out of Reach

Despite repeated claims that his administration is lowering the cost of living, Donald Trump’s poli…
Donald Trump has repeatedly framed inflation as a "hoax" and declared that he has "won affordability," yet independent analyses reveal that his touted initiatives deliver only marginal relief for most Americans.One of his most publicized programs, the TrumpRX prescription‑drug platform, lists just 61 medications out of the thousands needed nationwide. Moreover, price comparisons show that a medium dose of Wegovy costs $349 on TrumpRX, while the same dose sells for $163 in Japan and $198 in Germany. Similar gaps appear for diabetes drug Xigduo and autoimmune medication Xeljanz, which are significantly cheaper abroad.The website markets itself as a solution for uninsured, cash‑paying patients, but it does nothing for the roughly 85 % of Americans who already have prescription coverage.On housing, Trump’s executive order banning Wall Street firms from buying single‑family homes is unlikely to move the needle. Institutional investors own only about 2 % of such homes, while the nation faces a shortage of roughly 4.7 million units, according to Zillow. The ongoing war in Iran has also pushed mortgage rates higher, further straining affordability.Gasoline prices have surged since the Iran conflict began, climbing to an average of $4.10 per gallon – a 37 % increase from the pre‑war level of $2.98.Food costs tell a similar story. The Consumer Price Index shows a 3.1 % rise in overall food prices from February 2025 to February 2026, with coffee up 18.4 %, beef up 14.4 %, and fresh vegetables up 5.4 %. Tariffs championed by the administration have contributed to these hikes.International bodies echo domestic concerns. The OECD projects U.S. inflation to exceed 4 % this year, largely driven by the Iran war, a level higher than the 3 % rate recorded at the end of the Biden administration.Trump also claims to have eliminated taxes on overtime and Social Security benefits. In reality, overtime earnings are still subject to federal income tax on the base wage and to full Social Security and Medicare payroll taxes. Only the overtime premium enjoys a partial tax break. Likewise, more than half of Social Security recipients will continue to owe income tax on their benefits, contradicting the administration’s “no‑tax” narrative.Other initiatives, such as the “Trump Accounts” child‑savings program, provide a one‑time $1,000 seed deposit and allow families to contribute up to $5,000 annually. While beneficial for affluent households, the scheme offers limited assistance to families living paycheck‑to‑paycheck.Policy decisions have also raised costs for vulnerable groups. By opposing extensions of Obamacare subsidies, average health‑care premiums have risen by over 20 % for more than 20 million people. Simultaneously, proposed cuts to LIHEAP threaten heating and cooling assistance for roughly 6 million low‑income households.In sum, Trump’s affordability rhetoric serves more as political branding than substantive economic relief. The modest scope of his programs and the persistence of rising prices suggest that most working‑class Americans will see little improvement in their day‑to‑day expenses.
#trump #prices #but
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Sports Apr 06, 2026

Sha’Carri Richardson clinches $40,000 scratch win at 2026 Stawell Gift in dramatic finish

American sprint star Sha’Carri Richardson captured the women’s 120‑metre Stawell Gift from scratch,…
Sha’Carri Richardson, the Olympic 100m silver medallist and world‑ranked sixth‑fastest woman, delivered a thrilling victory at the 144th Stawell Gift on Easter Monday, crossing the finish line in a record 13.15 seconds to claim the $40,000 top prize.The 26‑year‑old American entered the historic Australian event – the nation’s oldest and richest running race – as a scratch runner, meaning she started from the zero‑metre mark while rivals enjoyed handicaps based on prior performance.In the women’s final, Richardson edged out Charlotte Nielsen (13.20s) and Chiara Santiglia (13.36s) after a false start by 17‑year‑old Grace Crowe forced the latter to move her blocks back a metre, effectively shortening Richardson’s target.Her semi‑final had been a nail‑biter; Richardson eased up at the line and won by a razor‑thin seven thousandths of a second over Halle Martin, prompting her coach Dennis Mitchell to stress the need for a stronger finish.“I think I realised I was going to win right past 90 metres,” Richardson said post‑race, adding, “The love, the support, the true enjoyment that I had on the track … you all made this moment happen. Thank you.”Richardson’s triumph makes her the third woman ever to win the Stawell Gift from scratch, underscoring the event’s growing international stature and the lucrative incentive for elite sprinters.In the men’s 120‑metre final, Australian Olufemi Komolafe – a 21‑year‑old medical student – secured victory in 11.93 seconds from a five‑metre handicap, with Jake Ireland second in 12.07 seconds. Komolafe expressed disappointment at not facing his idol, fellow American sprinter Christian Coleman, who failed to qualify for the final, finishing fifth in his semi‑final off scratch.Coleman reflected, “I gave it everything I got. You give them that much of a margin, it’s pretty tough. I hope everybody continues to watch and support athletics. I’m looking forward to a strong season and improving my 40‑to‑100 metre transition.”
#Sha’Carri Richardson #Stawell Gift #120‑metre sprint
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