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World Economy Apr 08, 2026

Bill Ackman's $64 bn Cash‑and‑Shares Offer Targets Universal Music, Pushing for NY Listing and Shareholder Value

Activist investor Bill Ackman's Pershing Square has submitted a €55.75 bn ($64.3 bn) cash‑and‑share…
Bill Ackman's Pershing Square has unveiled a €55.75 bn cash‑and‑shares bid to acquire Universal Music Group (UMG), valuing the label at €30.40 per share – a 78% premium over the previous close of €17.10. The proposal translates to roughly $64.31 bn, positioning it as one of the largest recent takeovers in the entertainment sector. The offer is tied to a strategic plan to relocate UMG’s primary listing from Amsterdam to New York. A U.S. listing would broaden the investor base, potentially attracting index funds and enhancing liquidity, which Ackman argues could lift earnings and drive a higher market valuation. In a letter to UMG’s board, Ackman praised chairman‑CEO Lucian Grainge while criticizing what he described as an “underutilized balance sheet” and the company’s €2.7 bn investment in Spotify Technology. He suggested that a refreshed governance structure – including former Hollywood super‑agent Michael Ovitz as board chair and two Pershing Square directors – would better position the label for future growth. Market reaction was immediate: UMG shares jumped 13% on the news, while Bollore Group’s stock rose 5% and Vivendi’s shares climbed over 10%. Pershing Square currently holds a 4.7% stake in UMG, making it the fourth‑largest shareholder. Key shareholders whose support is essential include Bollore Group (18.5% stake), Vivendi (13.4%), and China’s Tencent. Notably, the Bollore family controls about 80% of UMG’s voting rights, giving it decisive influence over any transaction. Industry analysts point to several headwinds that have pressured UMG’s share price, which has fallen nearly one‑third since its 2021 IPO. Streaming growth is decelerating, and concerns about AI‑generated music – from copyright disputes to fully synthetic songs – are reshaping the competitive landscape. A recent survey found that 97% of listeners can differentiate between AI‑created tracks and human‑composed music. Despite these challenges, global music revenues continue to rise year over year, prompting major labels such as Sony and Warner Music to double‑down on streaming partnerships with platforms like Spotify, Amazon, Apple and Deezer. Under the proposed structure, Pershing’s SPARC Holdings would merge with UMG, creating a Nevada‑incorporated entity listed on the New York Stock Exchange. If approved, the deal could set a precedent for how legacy entertainment firms adapt to evolving technology and investor expectations.
#music #umg #ackman
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World Apr 07, 2026

UK urged to lead sanctions against Israel’s controversial E1 West Bank settlement as annexation plans advance

Diplomats and former officials call on Britain to take a decisive lead in halting Israel’s planned …
Amid growing international focus on the Iran‑Israel conflict, Israel is pressing ahead with a systematic annexation of the West Bank, centred on the contentious E1 settlement project. The plan envisions the construction of 3,400 new homes on Palestinian land, a move designed to split the territory and undermine the viability of a future Palestinian state. German Chancellor Friedrich Merz has publicly condemned the annexation drive, labeling the E1 scheme illegal. Although the war in Iran and Israel’s military actions in southern Lebanon have delayed the release of construction tenders, officials confirm that the tenders will be issued on 1 June. Criticism from the United Kingdom, Germany, France and Italy has so far failed to deter the Israeli government, which appears accustomed to rhetorical rebukes without concrete repercussions. As former EU officials note, the Union has yet to leverage its economic and diplomatic weight to stop the settlement expansion. The British Prime Minister has reaffirmed the stance of the International Court of Justice, declaring the 1967 occupation of Gaza, East Jerusalem and the West Bank unlawful. This follows the United Kingdom’s formal recognition of the State of Palestine last year, alongside France, Canada and Australia. Given its historic ties and recent diplomatic recognitions, the UK is uniquely positioned to galvanise European and Commonwealth partners. Experts propose a three‑pronged approach: first, issue a clear warning that any contractor involved in designing, building or financing the E1 settlement jeopardises its commercial interests with the UK; second, impose a comprehensive ban on UK trade in goods, services and investment linked to the settlements; and third, suspend the trade concessions granted under the UK‑Israel trade and partnership agreement for breaching its human‑rights provisions. New Prime Minister Keir Starmer is urged to embed these measures within a broader strategy to strengthen European cooperation, champion equal rights, and secure mutual security for Israelis and Palestinians. Without enforceable consequences, the illegal settlement programme is likely to expand, heightening the risk of further violence. Vincent Fean – former consul‑general in JerusalemDavid Hannay – former UN ambassadorAnn Grant – former high commissioner to South AfricaEmyr Jones Parry – former UN ambassadorDavid Manning – former US ambassadorDavid Richmond – former FCO director generalPeter Westmacott – former US ambassadorJeremy Greenstock – former UN ambassadorFrances Guy – former Lebanon ambassadorPeter Millett – former Jordan ambassadorDerek Plumbly – former Egypt ambassadorEdward Clay – former Kenya high commissionerTony Brenton – former Russia ambassadorWilliam Patey – former Afghanistan ambassadorColin Budd – former Netherlands ambassadorAnthony Cary – former Canada high commissionerAlan Charlton – former Brazil ambassadorEdward Chaplin – former Iraq and Jordan ambassadorPeter Collecott – former Brazil ambassadorRichard Dalton – former Iran ambassadorMichael Hone – former Iceland ambassadorNicholas Hopton – former Iran ambassadorPeter Jenkins – former UN (Vienna) ambassadorRupert Joy – former EU ambassador to MoroccoRobin Kealy – former Tunisia ambassadorRobin Lamb – former Bahrain ambassadorAnthony Layden – former Morocco ambassadorRichard Makepeace – former UAE ambassadorMark Matthews – former Chad ambassadorRichard Northern – former Libya ambassadorChristopher Segar – former Iraq ambassadorAdrian Sindall – former Syria ambassador
#israel #germany #palestine
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Tech Apr 07, 2026

Inside Scale AI's Outlier Platform: Workers Scrape Instagram, Label Porn and Dog Waste for Meta‑Backed AI Training

Scale AI, a company partly owned by Meta, uses its Outlier platform to pay tens of thousands of gig…
Tens of thousands of people have been hired by Scale AI – a firm 49% owned by Meta – to train artificial‑intelligence models by scraping Instagram accounts, harvesting copyrighted artwork and transcribing pornographic soundtracks, according to the Guardian.Scale AI promotes its Outlier platform as a flexible, expert‑driven marketplace, recruiting professionals from medicine, physics and economics to "become the expert that AI learns from."Workers, however, say the reality diverges sharply from high‑level model refinement. They describe tasks that involve massive personal‑data scraping and content that many find morally uncomfortable.Outlier is managed by Scale AI, which holds contracts with the U.S. Pentagon and other defense companies. Its chief executive, Alexandr Wang, is hailed by Forbes as the world’s youngest self‑made billionaire, while former managing director Michael Kratsios served as science adviser to former President Donald Trump.One contractor noted that users of Meta platforms would be shocked to learn their photos and friends’ images are being harvested for AI training, with workers manually reviewing profiles to extract data.The Guardian interviewed ten Outlier contributors – many also journalists, graduate students, teachers or librarians – who took the gig work out of economic desperation. One said, "A lot of us were really desperate" and felt compelled to accept the unstable, low‑pay assignments.These gig workers, dubbed “taskers,” often feel they are training their own replacements, expressing “internalised shame and guilt” over contributing to the automation of creative professions.Law firm Clarkson, representing AI gig workers, estimates that hundreds of thousands of people worldwide now labor on platforms like Outlier. Taskers report bait‑and‑switch recruitment tactics, where advertised high salaries are replaced by lower‑paid projects after onboarding.All contributors are monitored through a tool called Hubstaff, which can screenshot browsers to verify work. While Scale AI claims the software is only for accurate payment, workers describe it as constant surveillance.Assignments have ranged from transcribing pornographic audio and labeling photos of dead animals or dog faeces, to annotating diagrams of infant genitalia and violent police scenarios. One doctoral student recounted being promised “no nudity” only to receive explicit porn clips.Scale AI says it shuts down any task flagged as inappropriate and does not accept projects involving child sexual‑abuse material or pornography, though workers note that publicly available images of minors have been used for training.Social‑media scraping tasks required workers to tag individuals by name, location and age, sometimes pulling data from accounts of users under 18. One task asked contributors to order Facebook photos by the subject’s age, prompting ethical unease.In addition to personal data, taskers were asked to harvest copyrighted artwork, with strict instructions to avoid AI‑generated images and select only hand‑drawn pieces. Scale AI maintains it does not ask workers to violate copyright standards.Scale AI’s client list includes major tech firms such as Google, Meta and OpenAI, as well as the U.S. Department of Defense and the government of Qatar, highlighting the growing demand for labelled data as AI models scale.Some workers reported interacting with ChatGPT and Claude, and speculated they might be training Meta’s upcoming model, code‑named “Avocado.”OpenAI announced it ended its partnership with Scale AI in June 2025, citing its supplier code of conduct that mandates ethical treatment of all workers.Despite irregular pay, occasional mass layoffs and the unsettling nature of many tasks, many taskers remain on the Outlier platform, hoping the AI future will eventually improve conditions. One said, "I have to be positive about AI because the alternative is not great."In response, a Scale AI spokesperson stated, "Outlier provides flexible, project‑based work with transparent pay. Contributors choose when and how they participate, and we regularly hear from highly skilled contributors who value the flexibility and opportunity to apply their expertise on the platform."
#Scale AI #Meta #Outlier platform
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Film Apr 07, 2026

James Gunn's Slither Rebooted for Reputational Glow-Up

James Gunn's 2006 comedy horror film Slither is getting a reboot ahead of its 20th anniversary, cap…
James Gunn's early feature film Slither, initially released in 2006, is being re-released in cinemas ahead of its 20th anniversary. The film, a comedy horror with a heavy focus on body horror, was Gunn's first feature-length project. At the time, it was met with commercial disappointment but has since garnered attention due to Gunn's subsequent success with major franchises such as Guardians of the Galaxy and Superman.The film's plot revolves around an alien lifeform that crash-lands on Earth and takes over a small town in South Carolina. The alien larvae, resembling flaccid phallic worms, infect the townspeople through various orifices, turning them into evil minions or hideously swollen incubators. The movie features Michael Rooker, Elizabeth Banks, and Nathan Fillion in key roles.Despite its thinly conceived science fiction elements and reliance on rubbery practical effects and lame jokes, which align more closely with the style of Troma, a production company where Gunn got his start, the film does showcase Gunn's early experimentation with comic timing and musical cues. A notable scene features a killing spree set to Air Supply's 'Every Woman in the World', a technique Gunn would later refine in his Guardians of the Galaxy films.The cast, including Michael Rooker and Elizabeth Banks, appears to be enjoying the film's humor, bringing some bright spots of wit and amusement to the movie. Slither is set to re-release in UK cinemas on April 10 and will be available on digital platforms from May 1.
#gunn #work #his
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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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Sports Apr 07, 2026

Bayern Arrive at Bernabeu Brimming with Confidence Ahead of Champions League Showdown with Real Madrid

Bayern Munich, bolstered by a possible Harry Kane return and a 14‑match unbeaten run, head to the S…
Match details: Real Madrid will host Bayern Munich at the Santiago Bernabeu on Tuesday, 7 April, kick‑off at 21:00 GMT, in the first leg of the Champions League quarter‑finals. Bayern, under Vincent Kompany, arrive in Madrid riding a wave of confidence, having dispatched Atalanta 10‑2 on aggregate in the last‑16 and gone 14 matches without defeat since a January loss. Harry Kane’s potential comeback adds extra intrigue. The England striker, who has netted 48 goals in 40 games across all competitions this season, missed Bayern’s 3‑2 Bundesliga win at Freiburg with an ankle problem. Joshua Kimmich quipped that Kane “would play in a wheelchair,” while Kompany expressed a “feeling” that the striker will be fit for Tuesday. Despite Real’s storied pedigree – 15‑time European champions featuring stars such as Kylian Mbappé, Vinícius Júnior and Jude Bellingham – many analysts view Bayern as the slight favourites, citing their aggressive, high‑pressing approach and the recent form of newcomers Michael Olise and Luis Diaz. Real Madrid, meanwhile, grapple with a spate of injuries. Thibaut Courtois is sidelined with a thigh issue, handing Andriy Lunin the starting goalkeeper role. Rodrygo is also out, while Ferland Mendy and Dani Ceballos remain doubtful. Midfielder Federico Valverde is expected back after serving a suspension, and Jude Bellingham may start on the bench as he recovers from a hamstring strain. Coach Álvaro Arbeloa downplayed the recent La Liga defeat to Mallorca, insisting it will not affect the team’s performance in Europe. He stated, “I know what my players are capable of, and they understand the importance of Tuesday’s game.” Bayern’s side will also miss several players through injury – goalkeepers Sven Ulreich and others – while a final fitness test will determine whether Kane can lead the line. If he is unavailable, Nicolas Jackson is slated to spearhead the attack. Predicted line‑ups (subject to change):Real Madrid – Lunin; Alexander‑Arnold, Rüdiger, Huijsen, Carreras; Valverde, Tchouaméni, Pitarch, Güler; Mbappé, Vinícius Jr.Bayern Munich – Neuer; Stanisic, Upamecano, Tah, Laimer; Kimmich, Goretzka; Olise, Gnabry, Díaz; Kane. The Bernabeu atmosphere is expected to be a decisive factor. Bayern veteran Karl‑Heinz Rummenigge warned that the stadium’s “hurricane” of fans demands “nerves of steel” from both sides. Historically, the two clubs have met 28 times, each securing 12 victories with four draws. Recent head‑to‑head encounters have favored Madrid, including a 2‑1 win in the 2024 semi‑finals. Bayern hope to rewrite that narrative after their 2012 triumph over the Spanish giants. With both teams boasting a blend of experience and emerging talent, the first leg promises a tactical battle that could set the tone for the remainder of the tournament.
#Bayern Munich #Real Madrid #Harry Kane
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Music Apr 06, 2026

Inside the Making of Five Star’s 1980s Ballad ‘Rain Or Shine’: From Studio Gremlins to Live‑Show Triumphs

Songwriter Billy Livsey recounts the handcrafted creation of Five Star’s 1986 love ballad “Rain Or …
Billy Livsey, an American musician who arrived in England in the 1970s, transitioned from touring with Slim Chance and Gallagher & Lyle to writing hits for Shakin’ Stevens, Elkie Brooks and Paul Young before being tapped to write for the teen pop group Five Star. In the mid‑80s Livsey co‑wrote the chart‑topping single “System Addict” with Gary Bell, and a few months later his publisher suggested a partnership with lyricist Peter Sinfield. After a brief exchange of a rough melody, Sinfield asked Livsey to pen the words over the phone, resulting in the lyric sheet for what would become “Rain Or Shine.” The demo featured the renowned session vocalist Tessa Niles, whose résumé includes touring with The Police and singing on Eric Clapton’s “Layla” on his Unplugged album. Livsey recalls that her effortless delivery set the tone for the final recording. Recording took place at London’s iconic Mayfair Studios, a venue that had hosted legends such as George Michael and Tina Turner. Livsey admits he “stole” a sequencer fragment from Donald Fagen’s “New Frontier” to give the track a subtle, progressive‑pop edge. Five Star’s lead vocalist Deniece Pearson remembers the demo’s female vocal as a revelation compared to an earlier male‑sung version of “All Fall Down.” Her father and manager, Buster Pearson, urged her to “listen to the lady on the demo and articulate your words.” Because she was wearing braces, Deniece deliberately over‑enunciated to keep the metal from sticking to her lips – a quirky detail she still laughs about. Studio sessions were far from smooth. Frequent electrical glitches prompted Livsey to joke, “Gremlin. Gremlin.” Yet he remained confident, insisting that such hiccups often precede a hit record – a prediction that proved accurate. Upon release, “Rain Or Shine” became a staple of Five Star’s live repertoire, earning spots on Top of the Pops, the Royal Variety Performance and the Miss World stage. During a tour, a fan pulled Deniece into the audience pit, only to be rescued by her “hunky Italian” security guard, a moment she now recounts with affection. Today the song closes the group’s concerts as an encore, with audiences singing along and often moving Deniece to tears. She credits Livsey’s melodic craftsmanship, noting that the 80s songwriting formula – a strong melody followed by soaring vocals – remains the song’s enduring charm.
#when #rain #shine
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Music Apr 05, 2026

Mitski’s Five‑Night Residency at Hollywood High Revives DIY Intimacy, Sparks Attendance Drive and Funds Youth Music Programs

Indie singer Mitski transformed the Hollywood High School auditorium into an intimate concert venue…
A projected ocean backdrop bathed the Hollywood High School auditorium in sunset hues as Mitski opened her five‑night residency, delivering a performance of “Dead Women” from her latest album Nothing’s About to Happen to Me. The stage, arranged like a cozy living room with a writing desk, chaise lounge and warm lamps, amplified the DIY‑style intimacy the artist sought.Addressing the crowd, Mitski quipped, “It’s dark in here – no one can see you. You can cry,” a line that resonated with the mixed‑age audience, prompting genuine emotional responses.The residency coincided with an innovative attendance challenge: students who maintained perfect attendance for two weeks were entered into a raffle for tickets. School staffer Michael Reagan called it “the most effective attendance drive in the district’s recent history.”Beyond the music, Mitski’s agreement to cover the venue’s rental fee will fund caps and gowns for graduating seniors, while she pledged to donate $2 from each ticket to a local youth‑focused music‑education nonprofit.The event attracted students from across Los Angeles and beyond. One senior, Sophia Barrios, traveled by train from the Central Valley after receiving tickets for her 18th birthday, praising Mitski’s genre‑spanning sound and personal lyrics. Fellow attendees echoed the sentiment, noting how the artist’s words gave voice to feelings they struggled to articulate.Former alumna Jessica Torres Vicente, now a therapist, described the experience as “a healthier dose of memory lane,” recalling the unchanged gold‑lettered welcome sign and vintage school‑production posters that still adorn the auditorium.Mitski’s decision to perform in a high‑school setting harks back to the venue’s history of hosting notable acts, such as Morrissey in 2013, and reflects her desire to recapture the raw connection of early‑career punk and DIY shows.The concert retained the hallmarks of a Mitski show—precise, balletic movement, immersive visuals, and a sound that enveloped the crowd—while the unique setting left an indelible impression. When she sang “Two Slow Dancers,” the audience shouted back, “Yes!” in unison, underscoring the shared intimacy of the night.
#school #high #her
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Sports Apr 05, 2026

Lincoln City on Brink of Historic Promotion to English Football's Second Tier

Lincoln City, led by manager Michael Skubala, is on the verge of securing promotion to the English …
Lincoln City's remarkable season has put them on the cusp of a historic promotion to the English Football League Championship. A draw or win in their upcoming match against Reading would confirm their place in the second tier for the first time in 65 years. Manager Michael Skubala has been instrumental in the team's success, implementing an innovative approach that has yielded impressive results.The team's 24-game unbeaten run in League One is a testament to their consistency and determination. Despite having the 17th biggest budget in the league, Lincoln City has been defying expectations and outperforming their opponents. Skubala's focus on teamwork, alignment, and a strong work ethic has been key to their success.Liam Scully, the club's chief executive, emphasizes that the team's approach is not about flashy tactics, but about being 'boringly consistent' and true to their roots. The club's innovative approach extends beyond the pitch, with initiatives such as an Elite Performance Centre and an innovation lab.The potential promotion has generated excitement among fans, but Skubala remains focused on the task at hand. He believes that the team's success is not just about individual talent, but about the collective effort and alignment throughout the club. With players like Conor McGrandles, Jack Moylan, and Reeco Hackett showing exceptional skill, Lincoln City is poised to make a strong impression in the Championship if they secure promotion.
#Lincoln City #Michael Skubala #English Football League Championship
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