France Replaces EDF CEO as Business Furor on Power Cost Mounts
The French government said Electricite de France SA Chief Executive Officer Luc Remont is stepping down as the state-owned utility faces increasing complaints from large industrial clients over the cost of electricity.
President Emmanuel Macron is considering appointing Bernard Fontana, the senior executive vice president in charge of the company's Industry and Services unit, as the new Chairman and CEO, the president's office said in a statement Friday.
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Israeli Defence Minister Katz asks Egypt to halt activists at border
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Observation deck operator in former John Hancock Center plans major expansion and a new ‘immersive experience'
The operator of the 360 Chicago observation deck near the top of the former John Hancock Center said the attraction is taking over two additional floors, creating the city's first multilevel observation deck, a new three-story atrium and a 14,000-square-foot private event space. It's an encouraging sign for the Magnificent Mile, a retail district that has a lot of empty storefronts. Magnicity, the French company that owns 360 Chicago, last year bought the 95th and 96th floors, directly above the 94th-floor observation deck, after the abrupt closure of the legendary Signature Room restaurant and the Signature Lounge, both top tourist spots for decades. 'We are now positioned to bring much-needed investment into these iconic spaces, delivering an experience that truly reflects the historic and architectural significance of this incredible building,' said Nichole Benolken, managing director at 360 Chicago. Although 360 Chicago didn't provide many details about what visitors will experience in the expanded observation deck, it did drop a few hints. WB-Immersive, a global firm that helped design the opening ceremonies for the 2024 Paris Olympics and the 2024 Paralympics, will create an immersive experience for visitors in the renovated spaces, which will also include new exhibits and attractions. 'I can't say too much because we are still in the conceptual design phase,' said Pierre-Antoine Batail, WB-Immersive's head of creative strategy. It's certain that the space will no longer host a restaurant, Benolken said. Immersive retail experiences, such as the new interactive exhibit dedicated to Harry Potter at 676 N. Michigan Ave., have become popular in downtown Chicago, and for many spaces now make more financial sense than restaurants. 'Our decision making was data- and research-driven,' she said. 'The dining scene in Chicago has evolved dramatically in the past 30 years.' The Signature Room closed in September 2023. Its shutdown was a blow to the Magnificent Mile, where the retail vacancy rate soared as a result of online shopping trends and the pandemic. A message posted to the restaurant's social media pages cited COVID-19 and subsequent 'severe economic hardship.' Magnicity invested about $17 million into the former John Hancock Center, the skyscraper now known as 875 North Michigan Avenue, after buying the 94th floor more than 10 years ago. It added attractions such as Tilt, a moving glass ledge that for two minutes dangles guests more than 1,000 feet above the street, and CloudBar, the highest bar in Chicago. Nearly 1 million people visit the observation deck each year, a roughly 60% boost from when Magnicity took over, Benolken said. The company operates similar attractions atop buildings in Berlin, Paris and Rotterdam, Netherlands. The three-floor reconstruction will take 18 to 24 months to complete, and is the most significant interior renovation in the building's 56-year history, said Scott Duncan, design partner at SOM, the architectural firm that designed the 100-story John Hancock Center and leads the current project. SOM plans to connect all three floors with a grand staircase, replace all the windows on the 94th, 95th and 96th floors, providing visitors with much clearer views, and transform the 96th floor into a private event space, he said. That will also raise the profile of 875 North Michigan Avenue, hopefully attracting the many office users seeking spaces in the city's top trophy buildings. 'People are now looking for something out of the ordinary when it comes to office space,' Duncan said. 'And the real pyrotechnics will come when the (observation deck's) new exhibits are revealed.'
