Gwyneth paltrow adn Chris Martin, who were married for over a decade, have maintained a close relationship following their 2014 separation. The former couple, who share two children, Apple and Moses, met in 2002 and began dating shortly thereafter. Their marriage,which lasted from 2003 too 2014,concluded with a joint announcement of their “conscious separation.”
ZESA Holdings Appoints Interim Leadership Following Chairman’s Passing
HARARE – State-owned power utility ZESA Holdings has announced interim leadership changes following the recent death of its executive chairman, Sydney Gata. albert Joel Nduna, the vice chairman, will assume the role of interim board chairman, while veteran engineer Cletus Nyachowe has been appointed acting group chief executive officer.These appointments come as ZESA Holdings,now under the purview of the Mutapa Investment Fund,embarks on a rebundling process. This restructuring will see the abolition of the executive chairman position, with the company transitioning to a structure with a distinct chairman and CEO.
Engineer Nyachowe, an electrical engineer with an MBA from the University of Zimbabwe, officially took on the interim CEO role on July 17th. His extensive career at ZESA, which began in 1988, includes leadership positions at Powertel Communications, the nation’s first data-focused telecommunications provider. He has also held senior operational roles in grid asset management, group operations, and international business development. Furthermore, nyachowe has provided consultancy services for significant renewable energy projects across the Southern African Development Community (SADC) region and currently serves as a non-executive director on the board of the Procurement Regulatory authority of Zimbabwe.
Nduna, a seasoned business executive with over 35 years of experience in senior management, currently chairs the Insurance and Pensions Commission and holds non-executive director positions on several othre boards.
In a interaction to staff, Fortune Sambo, executive director for human capital, expressed confidence in the appointees, stating, “Nduna and Engineer Nyachowe bring decades of corporate and sectoral expertise. Their leadership will be invaluable as we continue to advance the government’s aspirations of achieving total electrification and universal access to power and data by 2030.”
Sydney Gata’s tenure as executive chairman saw efforts to expand generation capacity, tho power outages have continued to be a challenge. The newly appointed interim leaders are tasked with maintaining progress on critical projects, including upgrades to the national transmission infrastructure and various public-private partnership initiatives.
The search for permanent successors to these key leadership roles is reportedly underway, with further announcements anticipated in the coming months.
Tesla’s latest financial report revealed a significant revenue decline, prompting Elon Musk to caution investors about a challenging period. The electric vehicle giant experienced its steepest year-over-year revenue drop in over a decade, falling short of Wall Street’s projections, which sent shares down over 4% in after-hours trading.
In a call with analysts, **Musk** described the current environment as a “weird transition period.” The company attributed its struggles to fluctuating tariffs, uncertain fiscal policy impacts, and shifting political sentiment. “Does that mean like we could have a few rough quarters? Yeah, we probably could have a few rough quarters,” **Musk** stated, acknowledging the headwinds from diminishing EV incentives and evolving autonomous vehicle regulations.
Despite the immediate concerns, **Musk** expressed optimism for the company’s long-term prospects. “I think Tesla’s economics will be very compelling by the end of next year,” he projected. Analysts, while noting the current financial dip, also see potential upsides. Thomas Monteiro, a senior analyst at Investing.com, suggested that the company’s efforts in markets like India and China could fuel recovery.
“Although still far from what fundamentals would suggest for a trillion-dollar company, Tesla’s latest numbers do spark some optimism, indicating that the worst is likely behind it — at least in terms of the core auto business.”
—Thomas Monteiro, Senior Analyst, Investing.com
Tesla is advancing its robotaxi ambitions with a phased approach. The company plans a quasi-robotaxi service in the San Francisco Bay Area, featuring a safety driver behind the wheel to expedite expansion while awaiting regulatory approval. This mirrors early strategies of competitors like Waymo.
Currently, human safety monitors are accompanying robotaxis in Austin, with service limited to select Tesla influencers and investors. **Musk** outlined ambitious timelines, aiming to expand the service within weeks. The purpose-built Cybercab, devoid of steering wheels or pedals, is slated for high-volume production in 2026.
Furthermore, Tesla owners may be able to contribute their personal vehicles to the robotaxi fleet “by next year.” **Musk** anticipates that Tesla’s autonomous ride-hailing service could eventually serve “probably half of the population of the US by the end of the year,” contingent on government approvals. This follows a history of **Musk** missing previous robotaxi deadlines.
The highly anticipated, more affordable Tesla model is expected to share a design similar to the Model Y. **Musk** indicated that public availability could begin in the fourth quarter of this year. Tesla’s earnings release confirmed that initial builds of this cost-effective model are planned for June, with mass production targeted for the latter half of 2025.
The concept of a lower-priced Tesla was initially proposed in 2020 during the company’s Battery Day event, with **Musk** envisioning a $25,000 vehicle, codenamed “Model 2.” However, the original three-year launch target has passed without the vehicle reaching consumers.
A notable concern for **Musk** is maintaining sufficient control over Tesla amidst potential shifts in his shareholding. He expressed apprehension about being “easily ousted by activist shareholders” if his stake diminishes, emphasizing the importance of retaining enough voting power to guide the company’s direction.
“I think my control over Tesla should be enough to ensure that it goes in a good direction,” **Musk** stated. “But not so much control that I can’t be thrown out if I go crazy.” This sentiment echoes his earlier public statements about needing approximately 25% voting control to remain influential while still allowing for accountability.
When questioned about Tesla potentially investing in **Elon Musk**’s artificial intelligence company, xAI, Chief Financial Officer Vaibhav Taneja declined to comment, stating that the earnings call was “not the forum” for such discussions. However, **Musk** indicated openness to shareholder proposals on the matter.
“Shareholders are welcome to put forward any shareholder proposals that they’d like,” **Musk** said. “I recently encouraged that, and then have shareholders vote and will act in accordance with the shareholder wishes.” **Musk** has previously expressed reservations about merging xAI with Tesla but plans to allow shareholders to vote on an investment in the AI company this November.
Critics, like Kevin Thomas, CEO of the Shareholder Association for Research and Education, have voiced concerns about the governance implications. “If this were a merger decision, at least we’d be looking at a single entity, where that company’s CEO could justifiably decide where to allocate resources between its divisions,” Thomas remarked. “Is it too much to ask Tesla’s CEO to work for Tesla first and foremost?”
If one were to excavate the online archives today,much like a digital archaeologist,a fossil of the site that was Amazon.com would be found. It is challenging to recognize it.The background is of an indefinite gray. The logo is far from that famous orange arrow that connects the first and last letter of the alphabet. In its very first version, it recalled the homonymous river, the largest in the world, with a background reminiscent of water. A cheerful writing, but in a standard font and in black, welcomed visitors. “A million titles at consistently low prices,” read a line below. Indeed, at the beginning, the site founded by Jeff Bezos was supplied directly by the publishers.
Amazon was launched just thirty years ago, on July 16, 1995. At the time, only books were sold. Disks and videotapes arrived only three years later,while the e-commerce platform began its climb to planetary success. More importantly, it moved towards a business model that had less and less to do with books and more and more with “everything.”
To mark the difference between how the small online shop operated then and how the e-commerce giant functions today, consider this curious fact: every time a book was sold, a bell was rung in the office. This habit was lost in a few weeks when the bell began to play so frequently that it had to be removed forever. Already in the first month from the launch, Amazon had sold books in all American states and in 45 countries around the world.
Looking back at the site Amazon.com from thirty years ago-launched a year after the brand was founded on July 5,1994-one cannot help but feel a bit of nostalgia. We invite you to join us on a journey down memory lane to recall what has been.
Founded in 1994,Amazon initially focused on selling books online. This strategic decision allowed the company to tap into a well-
Okay, here’s a breakdown of the provided text, focusing on extracting the key information about the banking operations:
Overall Summary:
The text outlines a series of mergers, acquisitions, and attempted takeovers within the italian banking sector, primarily occurring between September 2024 and June 2025. It details the involved parties, the nature of the offers (public purchase offer, public exchange offer), and the current status or potential outcomes.
Detailed Breakdown of Operations (Chronological Order):
Acquirer: Unicredit
Target: Commerzbank (German bank)
Action: Initially acquires a 9% share, aiming for 30% via derivatives.
Status: Criticized by the German government as “not kind and unacceptable.”
Acquirer: Banca Generali
Target: Intermonte (financial advice and investment banking)
Action: Public purchase offer at €3.04 per share.
Status: Completed. Banca Generali exceeded 95% ownership and delisted Intermonte.
Acquirer: Banco BPM
Target: Anima Holding (savings management company)
Action: Public purchase offer. Banco BPM was already a 22% shareholder.
Status: Completed. Banco BPM controls about 90% of Anima’s capital.
Acquirer: Unicredit
Target: banco BPM
Action: Public exchange offer (0.175 new Unicredit shares for each Banco BPM share).
Status: Rejected by Banco BPM (deemed opposed). Government intervention via Golden Power imposed conditions. Offer frozen by Consob at Unicredit’s request. Fate uncertain as of June 23.
Acquirer: Banca IFIS
Target: Illimity Bank
Action: Public exchange and purchase offer. Relaunched with a 5% cash premium (€0.1775 per share) if membership exceeds 90%.
Status: Adhesion period expires June 27.
Acquirer: BPER Banca
Target: Banca Popolare di Sondrio
Action: Card offer against paper (1.45 new BPER shares for each Sondrio share).
status: Aims for absolute majority, with a minimum threshold of 35% for the offer to be effective. Offer ends July 11.
Acquirer: Monte dei Paschi di siena (MPS)
target: mediobanca
Action: Public exchange offer (2.3 MPS shares for each Mediobanca share).
Status: Rejected by Mediobanca. ECB approval received. Offer coudl start between July 7-8 and continue until the end of August.
Acquirer: Mediobanca
Target: Banca generali
Action: Public exchange offer,using Mediobanca’s 13% stake in generali Insurance.
Status: Fate linked to an agreement with Generali Insurance (wich holds 50.6% of Banca Generali).
Key Players:
Unicredit
Banca Generali
Banco BPM
Banca IFIS
BPER Banca
Monte dei Paschi di Siena (MPS)
Mediobanca
Commerzbank
Illimity Bank
Banca Popolare di Sondrio
intermonte
Anima Holding
Generali Insurance
Types of Offers:
Public Purchase Offer (OPA): An offer to buy shares for cash.
public Exchange offer (OPS): an offer to exchange shares of one company for shares of another.
Card Offer against paper: An offer to exchange shares of one company for shares of another.
This summary should provide a clear and concise overview of the banking operations described in the text.
Former FTX CEO Sam Bankman-Fried lost money after his company collapsed and he was arrested. Michael M. Santiago via Getty Images
Once powerful CEOs have fallen from grace and lost their fortunes.
Some failed due to market changes, while others faced investigations and prosecutions.
MyPillow CEO Mike Lindell said he and his company lost “every penny.”
This is a machine translation of an article from our US colleagues at Business Insider. It was automatically translated and reviewed by a real editor.
The richer they are, the harder they fall.
John Foley, the former CEO of Peloton, can attest to this, having recently said that he lost all of his fortune. “My family has taken it well. My wife is super supportive. My kids are probably better off, if we’re being honest,” he told the New York Post in August.
He is not the only CEO who has made and lost millions of dollars.
Kimberly White/Getty Images for TechCrunch
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