Tim Cook
Apple said it is giving chief executive Tim Cook new equity awards that could provide him with as many as 1 million shares by 2025.
The compensation, currently worth $76m to $114m depending on Apple’s share performance, gives Mr Cook a new reason to keep running the world’s largest technology company.
The equity comes in two packages, according to a regulatory filing. The first comprises 333,987 restricted stock units that vest in thirds on April 1 in 2023, 2024 and 2025. The other has 333,987 units that will vest on October 1, 2023 and is based on Apple’s relative share performance over three years. Mr Cook may get none of this award or 200 per cent, depending on stock returns. If all goes well, Mr Cook would get about 1 million shares in total.
We are awarding Tim a new stock grant that will vest over time in recognition of his outstanding leadership
“Tim has brought unparalleled innovation and focus to his role as CEO and demonstrated what it means to lead with values and integrity,” Apple’s board said in a statement. “For the first time in nearly a decade, we are awarding Tim a new stock grant that will vest over time in recognition of his outstanding leadership and with great optimism for Apple’s future as he carries these efforts forward.”
Apple shares have soared in recent years as Mr Cook helped the company churn out new iPhones, watches, AirPods and digital services, while fending off the impact of US-China trade tensions and a global pandemic. The executive became a billionaire earlier this year, but he has been giving away some of that wealth.
The new packages mark the first equity awards issued to Mr Cook since he was named chief executive in 2011. Mr Cook, 59, has given no indication he plans to step down, but succession planning has been a major point of discussion in recent Apple board and executive team meetings.
A few weeks ago, Mr Cook was asked how long he foresees running the Cupertino, California-technology giant. “We’ll see,” he said. “At some point, of course, we all do something different.”
Igor and Dmitry Bukhman
The coronavirus pandemic has created a new gaming giant, boosting the fortune of its two founding brothers.
Thanks to a rush of new gamers, Playrix has become the world’s largest mobile-game developer after Tencent Holdings, according to researcher AppAnnie. Its founders and sole owners, 38-year-old Igor and Dmitry Bukhman, 35, have more than doubled their wealth and are now worth $3.9 billion each, according to the Bloomberg Billionaires Index.
That didn’t happen by accident. At the height of the health crisis, as companies cut down on advertising, the mobile-game developer took advantage of lower ad prices to increase its marketing. Monthly users surged 50 per cent to 180 million at the peak of the outbreak, and sales jumped about 60 per cent to $1.75bn in the first eight months of the year, the company said. The number of gamers has since stabilised at 150 million monthly.
“Successful games have become long-term services similar to Netflix, which manages to retain users by constantly adding new content,” Igor said. “We are constantly adding new stories, different game mechanics and levels to our games, and people are playing them for years.”
Listed gaming companies from China’s Tencent to Zynga in the US, CD Projekt in Poland and Netmarble in South Korea have surged this year with people spending more time and money playing. But Playrix’s rise to No. 2 from No. 7 last year is remarkable for two brothers native of Vologda, a city north of Moscow.
Playrix now employs more than 2,500 people. It has personnel at its Ireland headquarters and developers in Russia and Eastern Europe. In the past two years, the firm has bought a dozen developers and it’s now counting on them to help it produce new hits.
Elon Musk
Tesla chief executive Elon Musk plans to list SpaceX’s space internet venture, Starlink, several years in the future when revenue growth is smooth and predictable.
“Public market does *not* like erratic cash flow haha,” the billionaire entrepreneur tweeted.
Mr Musk said last year that Starlink was an important new revenue stream for his California-based Space Exploration Technologies, or SpaceX.
SpaceX president Gwynne Shotwell in February floated the idea of spinning Starlink off for an IPO in the coming years.
SpaceX is racing to build out its Starlink satellite constellation to offer broadband internet commercially by the end of 2020.
Mr Musk, in his tweet, also said he is a “huge fan” of small retail investors and will ensure they get top priority.
Margarita Louis-Dreyfus
Margarita Louis-Dreyfus took another hefty dividend from the eponymous agricultural-commodity trading house she controls, as the billionaire continues to squeeze the business for cash.
During the first six months of the year, Louis Dreyfus Company paid a dividend of $302m. The payout related to last year’s profit, the sale of several assets in Canada and its former metals-trading business, according to the company’s interim financial statement. The dividend reduced the company’s equity to $4.48bn at the end of June, down from $4.79bn six months earlier.
Ms Louis-Dreyfus, who controls more than 96 per cent of the holding company that owns LDC, has been taking big dividends over the past few years to help repay about $1bn she borrowed to buy out other family members.
The billionaire owner has been in talks to sell a minority stake in the company, recently holding negotiations with Abu Dhabi holding company ADQ. A successful deal would give the trading house an injection of much-needed cash.
On top of its owner’s troubles, the company has struggled in recent years, amid frequent management changes and declining earnings.
Despite its recent travails, the first half of 2020 showed some improvement for LDC. Net income climbed 77 per cent to $126m from a year earlier, despite significant losses from the collapse of Luckin Coffee. Net sales decreased to $16.3bn, as both prices and volumes shipped fell year on year.
Greatest Royal Rumble results
John Cena pinned Triple H in a singles match
Cedric Alexander retained the WWE Cruiserweight title against Kalisto
Matt Hardy and Bray Wyatt win the Raw Tag Team titles against Cesaro and Sheamus
Jeff Hardy retained the United States title against Jinder Mahal
Bludgeon Brothers retain the SmackDown Tag Team titles against the Usos
Seth Rollins retains the Intercontinental title against The Miz, Finn Balor and Samoa Joe
AJ Styles remains WWE World Heavyweight champion after he and Shinsuke Nakamura are both counted out
The Undertaker beats Rusev in a casket match
Brock Lesnar retains the WWE Universal title against Roman Reigns in a steel cage match
Braun Strowman won the 50-man Royal Rumble by eliminating Big Cass last
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
AUSTRALIA%20SQUAD
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Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
THE%20SPECS
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Iran's dirty tricks to dodge sanctions
There’s increased scrutiny on the tricks being used to keep commodities flowing to and from blacklisted countries. Here’s a description of how some work.
1 Going Dark
A common method to transport Iranian oil with stealth is to turn off the Automatic Identification System, an electronic device that pinpoints a ship’s location. Known as going dark, a vessel flicks the switch before berthing and typically reappears days later, masking the location of its load or discharge port.
2. Ship-to-Ship Transfers
A first vessel will take its clandestine cargo away from the country in question before transferring it to a waiting ship, all of this happening out of sight. The vessels will then sail in different directions. For about a third of Iranian exports, more than one tanker typically handles a load before it’s delivered to its final destination, analysts say.
3. Fake Destinations
Signaling the wrong destination to load or unload is another technique. Ships that intend to take cargo from Iran may indicate their loading ports in sanction-free places like Iraq. Ships can keep changing their destinations and end up not berthing at any of them.
4. Rebranded Barrels
Iranian barrels can also be rebranded as oil from a nation free from sanctions such as Iraq. The countries share fields along their border and the crude has similar characteristics. Oil from these deposits can be trucked out to another port and documents forged to hide Iran as the origin.
* Bloomberg
Killing of Qassem Suleimani
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
WRESTLING HIGHLIGHTS
COMPANY%20PROFILE
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Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Fines for littering
In Dubai:
Dh200 for littering or spitting in the Dubai Metro
Dh500 for throwing cigarette butts or chewing gum on the floor, or littering from a vehicle.
Dh1,000 for littering on a beach, spitting in public places, throwing a cigarette butt from a vehicle
In Sharjah and other emirates
Dh500 for littering - including cigarette butts and chewing gum - in public places and beaches in Sharjah
Dh2,000 for littering in Sharjah deserts
Dh500 for littering from a vehicle in Ras Al Khaimah
Dh1,000 for littering from a car in Abu Dhabi
Dh1,000 to Dh100,000 for dumping waste in residential or public areas in Al Ain
Dh10,000 for littering at Ajman's beaches
Global Fungi Facts
• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil
SPECS
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The biog
Name: Younis Al Balooshi
Nationality: Emirati
Education: Doctorate degree in forensic medicine at the University of Bonn
Hobbies: Drawing and reading books about graphic design
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
What to watch out for:
Algae, waste coffee grounds and orange peels will be used in the pavilion's walls and gangways
The hulls of three ships will be used for the roof
The hulls will painted to make the largest Italian tricolour in the country’s history
Several pillars more than 20 metres high will support the structure
Roughly 15 tonnes of steel will be used
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Armies of Sand
By Kenneth Pollack (Oxford University Press)
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How to tell if your child is being bullied at school
Sudden change in behaviour or displays higher levels of stress or anxiety
Shows signs of depression or isolation
Ability to sleep well diminishes
Academic performance begins to deteriorate
Changes in eating habits
Struggles to concentrate
Refuses to go to school
Behaviour changes and is aggressive towards siblings
Begins to use language they do not normally use
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
MATCH INFO
What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany
Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5