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New York City plans a Central Park mega-concert to celebrate reopening

NEW YORK (NYTIMES) – Brunch crowds are back. Rush-hour traffic is back. Tourists in horse-drawn carriages are back. But the best proof that New York City has returned to its full glory may be a mega-concert in the green expanse of Central Park. Seeking a grand symbol of New York’s revitalisation after a brutal pandemic year, Mayor Bill de Blasio is planning a large-scale performance by multiple acts and has called on Clive Davis, the 89-year-old producer and music-industry eminence, to pull it together. The show, tentatively set for Aug 21, is still coming together, with no artists confirmed, though Davis – whose five-decade career highlights have included working with Janis Joplin, Bruce Springsteen, Aretha Franklin, Alicia Keys and Whitney Houston – said he is aiming for eight “iconic” stars to perform a three-hour show for 60,000 attendees and a worldwide television audience. De Blasio said in an interview that the concert was part of a “Homecoming Week” to show that New York City is coming back from the pandemic – a celebration for residents and those in the region who might not have visited in a while. “This concert is going to be a once in

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The Rolling Stones, Tom Jones and Yoko Ono urge UK to change music streaming laws

In this articleGOOGLAMZNAAPLSPOTMauricio Santana | WireImage | Getty ImagesLONDON — Some of the biggest names in the music industry have called on the U.K. government to change the way musicians get paid when their songs are streamed online over platforms like Spotify and Apple Music.The Rolling Stones and Tom Jones are among 75 artists who have added their names to a letter to Prime Minister Boris Johnson, urging him to change the law regarding the royalties paid from streaming.Other new signatories include Pet Shop Boys, Yoko Ono, Van Morrison, Barry Gibb, Emeli Sandé and Jarvis Cocker. The total number of signatures now stands at 227. “Streaming is quickly replacing radio as our main means of music communication. However, the law has not kept up with the pace of technological change and, as a result, performers and songwriters do not enjoy the same protections as they do in radio,” the letter reads.”Today’s musicians receive very little income from their performances — most featured artists receive tiny fractions of a U.S. cent per stream and session musicians receive nothing at all.”The campaigners — led by the Musicians’ Union, Music Producers Guild, Ivors Academy and the #BrokenRecord initiative — argue that songwriters are struggling

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Rare activist investor showdown in the Gulf sees Dubai's Emirates REIT cancel debt restructuring plan

In this articleREIT-AEA major Dubai property investment fund is in the spotlight after its lenders blocked a debt restructuring plan and raised “serious concerns” about its transparency and governance. Dubai-based Emirates REIT was forced to withdraw a restructuring proposal for its $400 million dollar Islamic bond after a rare campaign of investor activism — something not commonly seen in the conservative Gulf region.Emirates REIT, the largest Sharia-compliant real estate investment trust (REIT) in the United Arab Emirates, confirmed on Monday that it failed to get the 75% of shareholder votes needed to go ahead with the restructure, which would have included delaying the bond’s maturity date by two years to 2024.”Emirates REIT has therefore decided to rescind the voluntary offer and will continue to work on enhancing the capital structure for the benefit of all equity and debt holders within the REIT,” it said in a statement on Monday.  Commuters drive along Sheikh Zayed Road past commercial and residential properties in Dubai, United Arab Emirates.Christopher Pike | Bloomberg | Getty ImagesSharia compliance means the funds or trusts in question are governed by the parameters of Sharia law and Islamic religious principles, which include prohibiting charging interest for profit, and forbidding investments that

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Nucor To Buy IMP Business Of Cornerstone Building Brands For $1 Bln Cash – Quick Facts

(RTTNews) – Nucor Corp. (NUE) announced Monday that it has signed a definitive purchase agreement to acquire the Insulated Metal Panels (IMP) business of Cornerstone Building Brands for $1 billion in cash. Adjusting for the net present value of associated tax benefits, the realized effective purchase price for Nucor is approximately $900 million. The transaction is expected to close later this year, pending regulatory approvals. IMP products are wall and roof panel solutions comprised of an energy efficient foam core sandwiched between two layers of steel or aluminum and are available in a variety of widths, thicknesses and exterior finishes. The IMP business Nucor is acquiring from Cornerstone Building Brands has seven manufacturing facilities located throughout North America. With this acquisition, Nucor will be purchasing two valued legacy brands, CENTRIA and Metl-Span, which provide a full range of products to service high-end architectural applications to more functional and quickly expanding cold storage and warehousing applications. Separately, Cornerstone Building Brands said it expects post-tax transaction proceeds of approximately $750 million to be used to pay down a portion of its secured credit facilities, invest in organic growth and efficiency projects and strategic acquisitions.

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Amazon, Google and Facebook will be hit hard by the G-7 tax deal. Here's how they responded

In this articleAAPLGOOGLFBAMZNThis photograph taken on September 28, 2017, shows a smartphone being operated in front of the logos of Google, Apple, Facebook and Amazon web giants.Damien Meyer | AFP | Getty ImagesThe world’s biggest tech companies are facing a corporate tax avoidance crackdown after the Group of Seven most developed economies agreed a historic deal Saturday.The G-7 backed a U.S. proposal that calls for corporations around the world to pay a minimum 15% tax on profits. The reforms, if finalized, would affect the largest companies in the world with profit margins of at least 10%.Looking ahead, the G-7 hopes to achieve a wider agreement on the new tax proposals next month at a gathering of the expanded G-20 finance ministers.Asked whether Amazon and Facebook would be among the companies targeted by the proposal, U.S. Treasury Secretary Janet Yellen said she believes they would “qualify by almost any definition.”Here’s how America’s tech giants reacted to the news:AmazonAmazon said the agreement “marks a welcome step forward” in efforts to “bring stability to the international tax system.””We hope to see discussions continue to advance with the broader G20 and Inclusive Framework alliance,” an Amazon spokesperson told CNBC by email.FacebookNick Clegg, Facebook’s vice

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