Cineplex Seeks Damages From Cineworld For Breaching Contractual Obligations
Cineplex Inc. (CGX.TO) said it has commenced legal action against Cineworld Group plc and 1232743 B.C. Ltd., seeking damages after Cineworld repudiated the agreement to acquire Cineplex at a price of $34 per share. The claim seeks damages, including the approximately $2.18 billion that Cineworld would have paid upon the closing of the arrangement for Cineplex’s securities, reduced by other items.
Cineplex noted that, on June 12, 2020, Cineworld purported to terminate the acquisition agreement and unilaterally withdrew the request for Investment Canada Act approval. Cineplex believes Cineworld breached its contractual obligations and its duty of good faith and honesty in contractual performance.
Spaghetti Western Movie Composer Ennio Morricone Dead At 91
Rome (AP) — Italian composer Ennio Morricone, who created the coyote-howl theme for the iconic Spaghetti Western “The Good, the Bad and the Ugly” and the soundtracks such classic Hollywood gangster movies as “The Untouchables,” has died. He was 91.
Morricone’s longtime lawyer, Giorgio Assumma, said the Maestro, as he was known, died early Monday in a Rome hospital of complications following a fall, in which he broke a leg.
During a career that spanned decades and earned him an Oscar for lifetime achievement in 2007, Morricone collaborated with some of the most renowned Italian and Hollywood directors, in movies including “The Untouchables” by Brian de Palma, “The Hateful Eight” by Quentin Tarantino and “The Battle of Algiers” by Gillo Pontecorvo.
That Tarantino film would also win him the Oscar for best original score in 2016. In accepting that Academy Award, Morricone told the audience at the ceremony: “There is no great music without a great film that inspires it.”
In total, he produced more than 400 original scores for feature films.
His iconic so-called Spaghetti Western movies saw him work closely with the late Italian film director Sergio Leone.
Morricone was known for crafting just a few notes, that that played on a harmonica in Leone’s “Once Upon A Time in America,” which would be instantly associated with that film.
Boohoo to Review Suppliers After Media Report of Poor Conditions
Boohoo Group Plc shares plunged after a report in the Sunday Times about poor working conditions at an alleged supplier of the U.K. online retailer.
Boohoo said in astatement Monday that it will review its supply chain after the report. The shares fell as much as 12% in London.
The newspaper said an undercover reporter worked at a factory in Leicester, England, where social-distancing measures weren’t being observed and employees were paid 3.50 pounds ($4.40) an hour, less than half the minimum wage. TheSunday Times said the reporter was helping pack boxes of Boohoo’s Nasty Gal line.
Boohoo said the factory isn’t an official supplier, and it suspects another company is occupying the facilities. While the location has a sign with the name Jaswal Fashions, that company went out of business, according to Boohoo.
The online retailer said it will review its relationship with any garment supplier that may be subcontracting at the factory, and it will stop business with any company that doesn’t adhere to the letter or spirit of its code of conduct.
Geberit Group H1 Currency-adjusted Net Sales Down 4.5% – Quick Facts
Geberit Group (GBERY.PK,GBERF.PK) reported that, in the first half of 2020, net sales decreased by 9.8% to 1.468 billion Swiss francs. This includes negative currency effects totalling 87 million francs. In local currencies, sales figure declined by 4.5%. The Group noted that, since mid-March, the construction industry in Europe has been negatively impacted by the COVID19 pandemic.
For the second quarter, currency-adjusted sales declined 10.7% to 671 million Swiss francs. Geberit said, despite the restrictions enforced due to COVID-19, the supply chain at the company remained largely intact during the first six months of the year.
MEDIA-Hedge fund Elliott expresses interest in buying Casual Dining Group – Sky News
July 6 (Reuters) – — Source link: bit.ly/31OSob2
— Note: Reuters has not verified this story and does not vouch for its accuracy
COVID-19 surges in Colombia, doctors fear deaths underreported
Colombia is reporting a surge in COVID-19 cases and deaths along its Caribbean coast.
COVID-19 cases and deaths are surging along Colombia’s Caribbean coast as the region becomes the epicentre of the pandemic in the country, with doctors warning many deaths are going unreported.
Intensive care units are now 80 percent full in Bogota.
The national government bought new ventilators to increase availability but a lack of trained doctors means not all of them can be used at the same time.
Al Jazeera’s Alessandro Rampietti reports from Bogota.
Pret A Manger to Cut 1,000 Jobs, Close 30 Stores Due to Pandemic
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Pret a Manger Ltd. said it will cut at least 1,000 jobs as it permanently closes 30 U.K. stores and restructures its business amid the pandemic.
The sandwich chain said although 339 of its 410 stores have now reopened, revenue has severely declined, dropping 74% year-on-year. Alongside closing 30 stores immediately it will also cut jobs in its other shops to reflect lower customer visits, rental costs and new safety measures. Jobs in its back-office support will also go.
Pret employs 8,000 people in the U.K. currently and 13,000 worldwide. In the U.K., the chain has aggressively expanded in the past few years, particularly in city center and transport hub locations, which have been the hardest hit by the lockdown and people working from home.
“We must make these changes to succeed in the new retail environment,” Chief Executive Officer Pana Christou said in the statement.