NXP's CEO to retire this year, insider Sotomayor to take over
(Reuters) -NXP Semiconductors NV said on Monday that its CEO Kurt Sievers will retire by the end of the year, and Rafael Sotomayor, currently a Vice President at the chipmaker, will succeed him.
Shares of the Eindhoven, Netherlands-based company fell nearly 7% in extended trading.
Sotomayor will take on the role of the president effective Monday and will assume the role of chief executive in October.
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Business of Fashion
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- Business of Fashion
The Independents Acquires Culinary Studio We Are Ona
Fashion communications conglomerate The Independents has acquired culinary studio We Are Ona. Founded in Paris in 2019 by chef and Noma alumnus Luca Pronzato, We Are Ona produces immersive dinners, including for Chanel, Balenciaga, Coperni, Alaïa and Saint Laurent. After working together on various projects for clients over the past few years, joining forces felt inevitable, said Independents co-founder and chief executive Isabelle Chouvet. 'We started to collaborate a lot and then it was natural that we had to officialise this union,' said Chouvet. '[Pronzato] is the only one doing what he's doing. He is able to push the boundaries of innovation, he is the only one who has the network of talents. He has the vision and understands the client's needs.' We Are Ona collaborates with artists like Willo Perron, who has staged shows for Beyoncé and Drake; Carsten Höller, known for his interactive installations; and Michelin-starred chefs including Dalad Kambhu and Mory Sacko. Beyond producing events for brands, the firm hosts pop-ups open to the public, most recently a restaurant experience featuring a dramatic, 100-feet-long sculptural lighting installation in New York's WSA Building with fashion show producer Alexandre de Betak (whose Bureau Betak was acquired by The Independents in 2021) in May. The set of a We Are Ona-produced dinner for Balenciaga. (Courtesy) Being under The Independents' umbrella will help We Are Ona continue expansion in the US (where it opened an office earlier this year), the Middle East and Asia, said Pronzato. This marks The Independents' first acquisition in the culinary space; it comes as foodie culture reaches a new zenith, and as food becomes an increasingly important tool fashion brands use to engage their customers. When it comes to food, fashion brands are raising the stakes — looking for high-production events that double as marketing moments: 'It's not only dinner to have a dinner, it's dinner to create a brand moment,' said Pronzato. 'These experiences can create an emotional link. When you sit at the table, the experience is different than when you buy a bag.' The acquisition is The Independents' third this year, and part of an ongoing spree that began in 2023 when it set its sights on doubling in size. In April, The Independents bought design studio 2x4 and in May, Paris-based documentary production company Terminal 9 Studios. Now, the company has over 20 agencies in its ranks and counts over 1,200 employees in offices across cities including Barcelona, Beijing, London, Los Angeles, Milan, New York, Seoul, Shanghai and Paris. Group revenue totalled $800 million in 2024, according to the company. Learn more: Why Food Is Everywhere in Fashion Advertising As foodie culture peaks and the cost of living rises, food is popping up more than ever in fashion imagery.
Yahoo
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Aalberts reports the progress of its share buyback programme 02 June
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San Francisco Chronicle
2 hours ago
- San Francisco Chronicle
What to know about inspections of Iran's nuclear program by the IAEA ahead of a key board vote
VIENNA (AP) — Iran's nuclear program remains a top focus for inspectors from the International Atomic Energy Agency, particularly as any possible deal between Tehran and the United States over the program would likely rely on the agency long known as the United Nations' nuclear watchdog. This week, Western nations will push for a measure at the IAEA's Board of Governors censuring Iran over its noncompliance with inspectors, pushing the matter before the U.N. Security Council. Barring any deal with Washington, Iran then could face what's known as 'snapback' — the reimposition of all U.N. sanctions on it originally lifted by Tehran's 2015 nuclear deal with world powers, if one of its Western parties declares the Islamic Republic is out of compliance with it. All this sets the stage for a renewed confrontation with Iran as the Mideast remains inflamed by Israel's war on Hamas in the Gaza Strip. And the IAEA's work in any case will make the Vienna-based agency a key player. Here's more to know about the IAEA, its inspections of Iran and the deals — and dangers — at play. Atoms for peace The IAEA was created in 1957. The idea for it grew out of a 1953 speech given by U.S. President Dwight D. Eisenhower at the U.N., in which he urged the creation of an agency to monitor the world's nuclear stockpiles to ensure that 'the miraculous inventiveness of man shall not be dedicated to his death, but consecrated to his life." Broadly speaking, the agency verifies the reported stockpiles of member nations. Those nations are divided into three categories. The vast majority are nations with so-called 'comprehensive safeguards agreements" with the IAEA, states without nuclear weapons that allow IAE monitoring over all nuclear material and activities. Then there's the 'voluntary offer agreements' with the world's original nuclear weapons states — China, France, Russia, the United Kingdom and the U.S. — typically for civilian sites. Finally, the IAEA has 'item-specific agreements' with India, Israel and Pakistan — nuclear-armed countries that haven't signed the Nuclear Nonproliferation Treaty. That treaty has countries agree not to build or obtain nuclear weapons. North Korea, which is also nuclear armed, said it has withdrawn from the treaty, though that's disputed by some experts. The collapse of Iran's 2015 nuclear deal Iran's 2015 nuclear deal with world powers, negotiated under then-President Barack Obama, allowed Iran to enrich uranium to 3.67% — enough to fuel a nuclear power plant but far below the threshold of 90% needed for weapons-grade uranium. It also drastically reduced Iran's stockpile of uranium, limited its use of centrifuges and relied on the IAEA to oversee Tehran's compliance through additional oversight. But President Donald Trump in his first term in 2018 unilaterally withdrew America from the accord, insisting it wasn't tough enough and didn't address Iran's missile program or its support for militant groups in the wider Mideast. That set in motion years of tensions, including attacks at sea and on land. Iran now enriches up to 60%, a short, technical step away from weapons-grade levels. It also has enough of a stockpile to build multiple nuclear bombs, should it choose to do so. Iran has long insisted its nuclear program is for peaceful purposes, but the IAEA, Western intelligence agencies and others say Tehran had an organized weapons program up until 2003. IAEA inspections and Iran Under the 2015 deal, Iran agreed to allow the IAEA even greater access to its nuclear program. That included permanently installing cameras and sensors at nuclear sites. Those cameras, inside of metal housings sprayed with a special blue paint that shows any attempt to tamper with it, took still images of sensitive sites. Other devices, known as online enrichment monitors, measured the uranium enrichment level at Iran's Natanz nuclear facility. The IAEA also regularly sent inspectors into Iranian sites to conduct surveys, sometimes collecting environmental samples with cotton clothes and swabs that would be tested at IAEA labs back in Austria. Others monitor Iranian sites via satellite images. In the years since Trump's 2018 decision, Iran has limited IAEA inspections and stopped the agency from accessing camera footage. It's also removed cameras. At one point, Iran accused an IAEA inspector of testing positive for explosive nitrates, something the agency disputed. The IAEA has engaged in years of negotiations with Iran to restore full access for its inspectors. While Tehran hasn't granted that, it also hasn't entirely thrown inspectors out. Analysts view this as part of Iran's wider strategy to use its nuclear program as a bargaining chip with the West. What happens next Iran and the U.S. have gone through five rounds of negotiations over a possible deal, with talks mediated by the sultanate of Oman. Iran appears poised to reject an American proposal over a deal this week, potentially as soon as Tuesday. Without a deal with the U.S., Iran's long-ailing economy could enter a freefall that could worsen the simmering unrest at home. Israel or the U.S. might carry out long-threatened airstrikes targeting Iranian nuclear facilities. Experts fear Tehran in response could decide to fully end its cooperation with the IAEA, abandon the the Nuclear Nonproliferation Treaty and rush toward a bomb. If a deal is reached — or at least a tentative understanding between the two sides — that likely will take the pressure off for an immediate military strike by the U.S. Gulf Arab states, which opposed Obama's negotiations with Iran in 2015, now welcome the talks under Trump. Any agreement would require the IAEA's inspectors to verify Iran's compliance. But Israel, which has struck at Iranian-backed militants across the region, remains a wildcard on what it could do. Last year, it carried out its first military airstrikes on Iran — and has warned it is willing to take action alone to target Tehran's program, like it has in the past in Iraq in 1981 or Syria in 2007. ___
