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Qatar Investment Receives Summary Judgment Based on Procedural Technicality, Not Merit, Against Phoenix Ancient Art

Qatar Investment Receives Summary Judgment Based on Procedural Technicality, Not Merit, Against Phoenix Ancient Art

NEW YORK CITY, NEW YORK / ACCESS Newswire / April 18, 2025 / In a deeply disappointing turn of events, Phoenix Ancient Art has been handed a summary judgment loss in ongoing litigation with QIPCO (Qatar Investment and Project Development Holding Company), not due to the substance of the case, but solely on procedural grounds. The court's decision was based on a technical hurdle relating to disclosure which resulted in the exclusion of all of Phoenix's evidence, testimony, and documents. As a result, the judgment was entered without consideration of the compelling proof Phoenix provided throughout the five-year legal battle.
The litigation stems from QIPCO's 2020 claims questioning the authenticity of two stone sculptures which was ignited by the unqualified opinion of a British metallurgist:
A Byzantine Chalcedony Statuette of Nike
A Greek Marble Head of Alexander the Great
These claims were dismantled, both by scientific proof, as well as the court's dismissal of the Alexander claim.
Despite the fact that Phoenix had submitted extensive expert analysis supporting its argument (evidence that was not challenged by any expert from QIPCO), the court's recent ruling struck out Phoenix's comprehensive defense - which was submitted to the court and includes:
Museum exhibition records from one of the biggest museums in the world and independent expert opinions
Scientific authentication reports from the most respectable lab in the world including 14 samples on one of them alone
Testimony from previous owners with original purchase invoices (dating back as far as 1968)
In 2023, three years after after the original litigation, Qatar Investment produced a new complaint to include allegations of fraudulent misrepresentation, reintroducing a previously dismissed piece and adding a new one (i.e.: A Roman Chalcedony Phalera). The amendment relied heavily on speculative interpretations rather than facts.
Despite Phoenix's offer to voluntarily provide 100,000 documents from its disclosure database to QIPCO (all its potentially relevant documents in possession, including documents that were already produced in the 2020 disclosure exercise and at the time of purchase)- showing transparency and nothing to hide - the court accepted QIPCO's argument for Phoenix to undergo a prohibitively costly document-by-document legal review. This financial barrier became the sole reason for Phoenix not completing the disclosure exercise which led to the court's exclusion of Phoenix's evidence and the resulting judgment.
Phoenix Ancient Art has served as a trusted source of antiquities for over 50 years, with its artworks housed in leading institutions such as The Louvre, The Getty Museum, The Metropolitan Museum of Art, and prestigious university museums including Princeton, Harvard, Yale, and Emory. Museum publications have featured Phoenix pieces on their covers - underscoring the gallery's integrity, scholarship, and the cultural importance of its collection. To this day, Phoenix Ancient Art remains proud to have placed 23 major antiquities in the QIPCO / Al Thani Collection.
'This is not justice,' said a spokesperson for Phoenix Ancient Art. 'It's a technical knockout - not a judgment on truth, merit, or evidence. The value, authenticity, and historical significance of these artworks are beyond dispute, and we stand by the rigorous research and provenance behind every piece.' This technicality meant that QIPCO did not have to prove what they have alleged.
Phoenix Ancient Art will continue to explore all legal avenues to challenge this decision and defend its reputation in the art world.
Contact Information
Hicham Aboutaam
President of Electrum
[email protected]
+2122887518
SOURCE: Phoenix Ancient Art
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Havas Delivers Solid Performance in the First Half of 2025, With Organic Growth of +2.3%, and Adjusted EBIT up 8.3% Year-on-Year
Havas Delivers Solid Performance in the First Half of 2025, With Organic Growth of +2.3%, and Adjusted EBIT up 8.3% Year-on-Year

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Havas Delivers Solid Performance in the First Half of 2025, With Organic Growth of +2.3%, and Adjusted EBIT up 8.3% Year-on-Year

PARIS--(BUSINESS WIRE)--Regulatory News: Yannick Bolloré, CEO and Chairman of Havas (AEX:HAVAS), said: 'Havas has delivered a solid first half of the year, achieving organic growth of +2.3% and driving dynamic new business momentum, particularly in North America, along with numerous integrated wins we are especially proud of. The rollout of our global strategy and operating system, launched one year ago and now evolved into to reflect its expanded capabilities, is clearly bearing fruit and delivering meaningful impact for our clients worldwide. As we continue to scale our AI-powered product suite, we are committed to equipping all our teams with the knowledge and tools to fully embrace its potential, ensuring that technology and creativity reinforce one another across every part of our organization. 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BUSINESS REVIEW Net revenue2 (unaudited figures) Q1 2025 Q2 2025 H1 2025 In millions of euros 649 697 1,346 % total growth +5.2% +0.8% +2.9% % scope effect +1.4% +1.0% +1.2% % organic growth +2.1% +2.6% +2.3% % 2024 organic growth +2.0% -1.7% 0.0% % forex effect +1.7% -2.7% -0.7% Expand Continued acceleration in organic growth during second-quarter 2025 The second quarter of 2025 was another quarter of growth acceleration for Havas. Net revenue 4 reached 697 million euros, increasing by +2.6% on an organic basis in the second quarter of 2025, compared to +2.1% in the first quarter of 2025. reached 697 million euros, increasing by +2.6% on an organic basis in the second quarter of 2025, compared to +2.1% in the first quarter of 2025. After taking into account a positive 1.0% scope effect and a negative 2.7% foreign exchange effect (mainly US dollar, British pound, Brazilian real, Mexican peso) total growth stood at +0.8% for the second quarter of 2025. Solid performance in the first-half of 2025 Net revenue came out at 1,346 million euros. Net revenue rose by 2.3% on an organic basis 5 , compared to 0% in the same period of 2024. , compared to 0% in the same period of 2024. Changes in the scope of consolidation 6 had a positive 1.2% impact, while changes in foreign exchange rates 7 had a negative 0.7% impact (mainly Brazilian real, Mexican peso). had a positive 1.2% impact, while changes in foreign exchange rates had a negative 0.7% impact (mainly Brazilian real, Mexican peso). Revenue for the first half of 2025 amounted to 1,408 million euros, an increase of 3.1% compared to the same period in 2024. Business lines Net revenue is divided among three main Business Lines: Havas Media (36% of net revenue), Havas Creative (41% of net revenue), and Havas Health (23% of net revenue). ORGANIC NET REVENUE GROWTH BY GEOGRAPHICAL REGION Organic growth (in %) (unaudited figures) Q1 2025 Q2 2025 H1 2025 Europe -0.2% +2.6% +1.3% North America +3.2% +4.6% +3.9% APAC and Africa +1.9% -4.9% -1.8% Latin America +16.6% +2.5% +8.6% Group Total +2.1% +2.6% +2.3% Expand Europe (50% of net revenue): after a better performance in the second quarter of 2025 compared to the first quarter (net revenue up 2.6% in the second quarter, down 0.2% in the first quarter), organic growth in net revenue came out at 1.3% for the first half of 2025 in Europe. Both France (Havas Creative with BETC mainly) and the United Kingdom (strong performance of Havas Media notably), which are Havas' main markets in Europe, performed well in the second quarter of 2025, compared with the second quarter of 2024. North America (35% of net revenue): organic growth in net revenue accelerated significantly in this region to 4.6% in second quarter 2025, compared to second quarter 2024. This excellent performance was driven by the Havas Health business line, whose double-digit organic growth accelerated in the second quarter versus first quarter 2025. As a result, organic growth in North America came out at a solid 3.9% for the first half of 2025. For reminder, the basis comparison for the North America region was -6.4% organic growth for the first half of 2024. APAC & Africa (9% of net revenue): this region experienced a negative performance in second quarter 2025, mainly due to less client spending in China. In first half 2025, net revenue was down 1.8%. Latin America (6% of net revenue): after several quarters of sustainable growth, the Latin America region recorded a slowdown in second-quarter 2025 compared to first-quarter 2025. Organic growth remained very satisfactory for the first half of the year, up 8.6%, compared to the same period of last year. ANALYSIS OF FIRST-HALF 2025 FINANCIAL PERFORMANCE. Adjusted EBIT8 stood at 144 million euros, up 8.3% compared to the first half of 2024. Adjusted EBIT margin9 came out at 10.7%, compared to 10.2% in the first half of 2024, representing a 50 basis point improvement year on year. Personnel costs were kept under control, increasing just 1.6% compared to the first half of 2024, below the percentage increase in net revenue. Restructuring costs amounted to 7 million euros in the first half of 2025, compared to 11 million euros in the first half of 2024. Net financial expense totalled 17 million euros for the first half of 2025, compared to 4 million euros in the first half of 2024. This deterioration is mainly due to a net loss relating to foreign exchange of 10 million euros in the first half of 2025, compared to zero in the first half of 2024. The income tax expense for the first half of 2025 was 37 million euros, compared with 48 million euros in the first half of 2024. 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Capital expenditure remained almost stable at 15 million euros, compared to 13 million euros in the same period of 2024. Financial investments totaled 25 million euros (including payments related to upfronts, buy-outs and earn-outs), down from 76 million euros in the first half of 2024. Tax paid amounted to 37 million euros compared to 33 million euros in the first half of 2024. Dividends paid to shareholders amounted to 84 million euros, of which 79 million euros were paid to Havas NV shareholders in early June 2025. In addition, the Group bought back Havas NV shares in an amount of 4 million euros during the first half of 2025 (see 'Share buyback program' below). Changes in foreign exchange rates had a negative cash impact of 59 million euros (compared to a positive impact of 8 million euros in the first half of 2024). Financial structure Consolidated equity amounted to 1,755 million euros, compared to 1,907 million euros at the end of December 2024. As of June 30, 2025, Net cash11 stood at a negative amount of 79 million euros, compared to a positive amount of 124 million euros at June 30, 2024. Average Net debt12 amounted to 28 million euros over the period. At end-June 2025, gross debt totaled 430 million euros, while cash and cash equivalents stood at 351 million euros. The liquidity available13 was 1,197 million euros. FIRST-HALF 2025 HIGHLIGHTS One year after announcing a major strategic pivot, Havas is delivering on its ambition to become an AI-driven organization, fueled by human ingenuity. The group has reaffirmed its commitment to invest €400 million by 2027 in data, technology, and artificial intelligence, a cornerstone of its global transformation. At the heart of this evolution is Havas' rebranded global strategy and operating system, which now fully integrates AI across the entire value chain, from targeting and analytics to planning, content personalization, and creative production. 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From the beginning of the program, on June 2, 2025, until June 30, 2025, 2,603 thousand ordinary shares were bought back for an average price of €1.5028 per ordinary share. REVERSE SHARE SPLIT Today, Havas announces that it will be implementing the reverse share split, which was proposed and voted on during the Shareholders' Meeting held on May 28,2025. Pursuant to this reverse share split the number of ordinary shares in Havas NV, will be reduced by a 1:10 ratio, as each ten (10) outstanding ordinary shares of Havas NV will be consolidated into one (1) ordinary share. The amount of the share capital of Havas NV immediately before and after implementation of the reverse share split will remain unchanged because, the nominal amount of each share composing the share capital of Havas NV, after the implementation of the reverse split, will be 2 euros per share, compared with 0.2 euro per share before the reverse split. The implementation will be executed in fall 2025. Havas will announce further information regarding the precise calendar of this transaction in due time. OUTLOOK Thanks to the strength of its competitive positioning, strategic assets and talented teams to achieve its objectives, Havas approaches the second half of 2025 with confidence, while remaining cautious amid ongoing geopolitical tensions, trade pressures and political uncertainties. Havas confirms its guidance for fiscal year 2025, namely: Net revenue organic growth above 2.0% compared to 2024; Adjusted EBIT margin between 12.5% and 13.5%; Dividend payout ratio of around 40%. The Group also confirms its medium-term financial targets for fiscal year 2028: Adjusted EBIT margin between 14.0% and 15.0%; Dividend payout ratio of around 40%. ANALYST CONFERENCE CALL Speakers: Yannick Bolloré, Chief Executive Officer and Chairman, and François Laroze, Chief Financial Officer and Chief Operating Officer. Date: July 29, 2025, at 6:00 pm Paris time – 5:00 pm London time – 12:00 pm New York time. The conference call will be held in English. Audio webcast link and slides of the presentation will be available on the company's website FINANCIAL CALENDAR Upcoming financial publications: Third quarter 2025 revenue, October 14, 2025, after market close. *** About Havas Founded in 1835 in Paris, Havas is one of the world's largest global communications groups, with nearly 23,000 people operating in over 100 markets and sharing one mission: to make a meaningful difference to brands, businesses, and people. To meet the needs of its clients, Havas has developed a seamlessly integrated strategy and operating system, fusing all its global expertise, tools and capabilities, to create, produce, and distribute real-time, optimized, and personalized marketing solutions at scale. With inspired human ideas at the heart of this unique model, supercharged by the latest data, technology and AI, the teams work together with agility and in perfect synergy within Havas Villages to provide clients with tailor-made solutions that support them in their positive transformation. Havas is committed to building a diverse, inclusive, and equitable workplace, that prioritizes the well-being and professional development of its talents. Further information about Havas is available at IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS AND NON-IFRS FINANCIAL MEASURES This press release is published by Havas N.V. and may contain inside information within the meaning of Article 7(1) of Regulation (EU) No 596/2014, as amended. Certain statements contained herein may be forward-looking statements, including, but not limited to, statements that are predictions of or indicate future events, trends, plans, expectations or objectives. Undue reliance should not be placed on forward-looking statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause the Havas Group's actual results to differ materially from those expressed or implied in such forward-looking statements. Please refer to Section 7.2, 'Risk Factors' of the annual report of Havas N.V. for the year ended December 31, 2024, available on Havas N.V.'s corporate website for a description of certain important factors, risks and uncertainties that may affect the Havas Group's business and/or results of operations. Havas undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise, except as required by applicable laws and regulations. This press release refers to certain non-IFRS financial measures, or alternative performance measures, used by Havas in analyzing operating trends, financial performance and financial position of the Havas Group and providing investors with additional information considered useful and relevant regarding the results of the Havas Group. These alternative performance measures are not recognized measures under IFRS or any other generally accepted accounting standards, and they generally have no standardized meaning and therefore may not be comparable to similarly labelled measures used by other companies. As a result, none of these alternative performance measures should be considered in isolation from, or as a substitute for, the financial statements and related notes prepared in accordance with IFRS. For a definition of these alternative performance measures and a reconciliation from such alternative performance measure to the relevant line item, subtotal or total presented in the financial statements, please refer to the financial glossary at the end of this press release and Note 7.2.2 to the unaudited condensed consolidated interim financial statements as of and for the six months ended June 30, 2025 included in the financial report of Havas N.V. for the six-month period ended June 30, 2025] The financial information included in this press release in respect of the six-month period ended June 30, 2025 has not been audited or reviewed by an external auditor. In addition, certain calculated figures (including data expressed in thousands or millions) and percentages presented in this press release have been rounded. Where applicable, the totals presented in this press release may slightly differ from the totals that would have been obtained by adding the exact amounts (not rounded) for these calculated figures. The financial information included in this press release in respect of the six-months period ended June 30, 2024 has been derived from the unaudited condensed consolidated interim financial statements of Havas S.A.S., prepared in accordance with IAS 34 'Interim Financial Reporting', as of and for the six months ended June 30, 2024 (the '2024 Unaudited Condensed Consolidated Interim Financial Statements'). The 2024 Unaudited Condensed Consolidated Interim Financial Statements, together with the Havas S.A.S.'s statutory auditors' limited review report thereon, are included in Section 18, 'Historical Financial Information' of the prospectus dated October 30, 2024, published in connection with the listing and admission of Havas N.V.'s shares to trading on the regulated market of Euronext in Amsterdam and available on the corporate website of Havas ( CONSOLIDATED FINANCIAL STATEMENTS Profit and loss Unaudited accounts In millions of euros Half Year 2024 Half Year 2025 Revenue 1,366 1,408 Costs rebilled to customers (58) (62) Net revenue 1,308 1,346 Other operating expenses and income (198) (211) Personnel costs (919) (934) Depreciation and amortization (56) (55) Performance shares (2) (2) Adjusted EBIT 133 144 Goodwill impairment / earn-out adjustments 3 (3) Restructuring (11) (7) Operating income 125 134 Net financial expense (4) (17) Income before Tax 121 118 Income taxes (48) (37) Net income 74 80 Non-controlling interests 3 6 Net income, Group share 71 74 Expand Balance sheet Assets Unaudited accounts In millions of euros Dec. 31, 2024 June 30, 2025 Non-current assets Goodwill 2,535 2,486 Intangible assets 49 48 Property and equipment 205 187 Rights-of-use assets 238 239 Equity Investments 3 4 Financial assets 40 43 Deferred tax assets 96 72 Other non-current financial assets 19 28 Total non-current assets 3,185 3,107 Current assets Inventories and work in progress 115 134 Customer receivables 2,726 2,532 Current tax receivables 70 64 Other receivables 337 439 Other current financial assets 9 11 Cash and cash equivalents 234 351 Total current assets 3,491 3,531 TOTAL ASSETS 6,676 6,638 Expand Equity and Liabilities Unaudited accounts In millions of euros Dec. 31, 2024 June 30, 2025 Shareholders' equity - Group share 1,881 1,725 Capital 198 198 Share premium account 3,246 3,167 Currency translation adjustments (8) (112) Treasury shares - (4) Other reserves and retained earnings (1,555) (1,524) Non-controlling interests 26 30 Total equity 1,907 1,755 Non-current liabilities Long-term borrowings 4 2 Lease liabilities over 1 year 223 223 Earn-out and non-controlling interest buy-out obligations 237 232 Other long-term provisions 108 98 Deferred tax liabilities 69 60 Other non-current liabilities 9 8 Total non-current liabilities 650 623 Current Liabilities Short-term borrowings 7 420 Lease liabilities under 1 year 77 72 Bank overdrafts 12 8 Earn-out and non-controlling interest buy-out obligations 32 90 Short-term provisions 63 45 Trade payables 2,692 2,330 Tax payables 24 23 Other payables 1,212 1,272 Total current liabilities 4,119 4,260 TOTAL LIABILITIES 6,676 6,638 Expand Cash Flow Statement Unaudited accounts In millions of euros June 30, 2024 June 30, 2025 Net income 74 80 Adjustments of non-cash items 77 82 Amortization, depreciation and provision 30 37 Current income taxes 30 25 Change in deferred taxes 18 12 Expenses related to performance shares - 2 Other non-cash transactions (3) 1 Finance costs 2 5 Tax paid (33) (38) Change in working capital (204) (183) Net cash provided by operating activities (86) (59) Intangible and tangible (13) (15) Payment for acquisition of subsidiaries, net of cash acquired (14) (16) Loans granted 1 (3) Interest received 11 11 Loan to Vivendi 116 - Divestitures - 3 Net cash used in investing activities 101 (20) Dividends paid to Havas shareholders and non-controlling interests (94) (84) Transactions in treasury shares - (4) Buy-out payments of non-controlling interests (62) (9) Transactions on borrowings 93 401 Repayment of lease borrowings (42) (40) Interests paid on lease liabilities (6) (5) Net cash used in financing activities (111) 259 Effect of exchange rate changes on net cash 8 (59) Net increase / (decrease) in cash and cash equivalents (96) 180 Cash and cash equivalents net at opening 322 222 Cash and cash equivalents net at closing 234 343 Expand FINANCIAL GLOSSARY Adjusted EBIT Adjusted EBIT represents net income excluding income taxes, interest, other financial income and expenses, goodwill impairment, earn-out adjustments and restructuring charges Adjusted EBIT margin Ratio in % of (Adjusted EBIT) / (Net Revenue) bps Basis points Capex Cash used for purchases of intangible and tangible assets Operating Cash Flow before working capital Net cash provided by operating activities, excluding changes in working capital and taxes paid, and including lease payments, as reported in the consolidated financial statements Dividend payout ratio Target proportion of net income attributable to the shareholders of Havas, the distribution of which would be proposed to the General Shareholders' Meeting of Havas. EBIT Operating income (EBIT – Earning Before Interest and taxes) including the impact of restructuring charges Foreign Exchange rate change Contribution of the foreign exchange effect (or currency effect) to total growth Like-for-like, Organic growth Growth achieved through internal business activities at constant currency and perimeter Liquidity available Position of cash and cash equivalents, adding available short-term undrawn credit lines (confirmed and non-confirmed) Margin Calculated as a percentage of Net revenue Net debt / Net cash Net debt = Long-term debt plus short-term debt, excluding lease liabilities, earn-out obligations and non-controlling interest buy-out obligations, minus cash and cash equivalents and amounts outstanding on loans to Vivendi SE. If Net debt is negative, then it is equivalent to Net cash Average Net Debt / Net Cash Average of the amount of net debt / net cash at the end of each month Net revenue Equal to revenues in accordance with IFRS 15 less costs rebilled to customers (consisting of pass-through costs rebilled to customers such as out of pockets costs and other third-party expenses) Scope change Contribution of perimeter variation (including M&A operations and divestments) to total growth Total Growth = YoY (Year-over-Year) Growth in net revenue over a specified period (including Organic growth, Scope change and FX change) / Year-over-year equivalent Expand Note on Operating Cash Flow before working capital: As from July 29, 2025, Havas will report its Operating Cash Flow before working capital, a non-IFRS measure defined in the above financial glossary ('OCF before WC'). This new figure will be provided going forward in addition to Free Cash Flow ('FCF' – defined as net cash provided by operating activities minus capital expenditures). Management believes OCF before WC provides more relevant information on Havas's underlying cash generation capacity compared to FCF, as OCF before WC does not take into account short-term, external or seasonal fluctuations in Havas's working capital requirements. In the first half of 2025, OCF before WC amounted to 117 million euros, up from 104 million euros in the first half of 2024. In the first half of 2025, Free Cash Flow stood at (73) million euros, compared to (99) million euros in the first half of 2024. 1 Net revenue, Adjusted EBIT and Adjusted EBIT margin are non-IFRS measures defined in the financial glossary appended to this press release. 2 Net revenue is a non-IFRS measure defined in the financial glossary appended to this press release. 3 Adjusted EBIT and Adjusted EBIT margin are non-IFRS measures defined in the financial glossary appended to this press release. 4 Net revenue is a non-IFRS measure defined in the financial glossary appended to this press release. 5 Organic growth is a non IFRS measure defined in the financial glossary appended to this press release. 6 Change in the scope of consolidation is defined in the financial glossary appended to this press release. 7 Foreign exchange rate impact is defined in the financial glossary appended to this press release. 8 Adjusted EBIT is a non-IFRS measure defined in the financial glossary appended to this press release. 9 Adjusted EBIT margin is a non-IFRS measure defined in the financial glossary appended to this press release. 10 Operating Cash flow before working capital is a non-IFRS measure defined in the financial glossary appended to this press release 11 Net cash / Net debt is a non-IFRS measure defined in the financial glossary appended to this press release. 12 Average Net debt is a non-IFRS measure defined in the financial glossary appended to this press release. 13 Liquidity available is defined in the financial glossary appended to this press release.

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Vauxhall owner warns of €1.5bn tariff hit days after EU-US deal

The owner of Vauxhall has warned it is facing a €1.5bn (£1.3bn) bill for US tariffs just days after the European Union struck a trade deal with Donald Trump. Stellantis said on Tuesday it had already incurred tariff-related costs of €300m for April to June, although it warned these would rise by a further €1.2bn for the final six months of this year. The prediction assumes there is no change to tariffs currently being levied on cars shipped from Europe to the US, which have been in place since April. It reflects the uncertainty still surrounding Sunday's US-EU deal, and the staggering costs European companies face if the agreement is not finalised in the coming weeks and months. Stellantis reported a 23pc drop in shipments to North America in the first half of 2025 alone, prompting a 4.6pc fall in the company's share price in early trading. The tariffs have made European cars more expensive for consumers while denting profitability for manufacturers. The deal struck by Brussels and President Trump would cut the levies from 27.5pc to 15pc. That is up from 2.5pc before President Trump first launched his trade dispute, but still a significant reduction on current levels. 'Significant damage' However, Ursula von der Leyen, the European Commission president, is facing a backlash from member states over the deal – which France and other critics have claimed is a humiliation for the Continent. François Bayrou, the French prime minister, said the agreement marked a 'dark day' for the 'free peoples' of Europe, while Hungarian PM Viktor Orban complained Ms von der Leyen had been 'eaten for breakfast' by Mr Trump. Even Germany, which reluctantly supported the agreement, said it would still suffer 'significant damage' under the pact. It suggests that winning approval for the deal from member states will be a tricky process in the coming weeks. Another point of anger for European leaders is the improved terms secured by Britain, which negotiated a 10pc tariff with the president. That is also up from 2.5pc before the dispute. On Tuesday, Stellantis said it remained 'highly engaged with relevant policymakers, while continuing long-term scenario planning'. Exactly how much Stellantis itself would benefit from any deal remains uncertain. Analysts at Morningstar on Monday suggested the company shipped fewer cars from Europe to the US than rivals, choosing instead to assemble more cars in Mexico and Canada. As a result, Stellantis was likely to see no 'meaningful upside'. Instead, they argued Porsche, Mercedes, BMW and Volkswagen – in that order – would be 'the most significant beneficiaries of this trade deal'. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.

Industry Leader Lee Bird Joins Board of a Parent Media Co. Inc.
Industry Leader Lee Bird Joins Board of a Parent Media Co. Inc.

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time2 hours ago

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Industry Leader Lee Bird Joins Board of a Parent Media Co. Inc.

Former At Home CEO and Nike executive to help guide global expansion of and Victory+™ as APMC scales its streaming ecosystem DALLAS, TEXAS / / July 29, 2025 / A Parent Media Co. Inc. ("APMC"), the company behind the safe-streaming platform today announced the appointment of Lewis L. (Lee) Bird III to its Board of Directors. With an expansive career spanning nearly 40 years, Mr. Bird brings a proven track record in retail, finance, and operational growth. He most recently served as Chairman and CEO of At Home Group Inc., where he led the company through transformative growth and a successful IPO. His prior leadership roles include Group President at Nike, Chief Operating Officer of Gap Inc., and CFO of Old Navy, positions that showcase his deep expertise in scaling businesses and building brand loyalty. "Lee has built and led some of the most trusted brands in the world, and his insights will be invaluable as we continue to connect audiences and empower brands through our streaming platforms," said Neil Gruninger, President & CEO of APMC. "He joins at a time of meaningful momentum across our business, from the enduring global success of to the explosive growth of Victory+, which launched in September 2024 and is already transforming how fans access live sports." "Lee's addition to the board reinforces our commitment to scaling APMC into a global leader in streaming technology and brand-safe media," said James Lites, Chairman of the Board. "His leadership across some of the world's most respected consumer brands will strengthen our ability to grow APMC's platform portfolio and pursue aggressive growth opportunities across Victory+, and beyond. We're thrilled to welcome him to the board at such an exciting time for the company." With over a decade of experience in the digital media space, APMC builds and powers monetizable streaming solutions for brands and creators, reaching hundreds of millions of homes worldwide. Its mission is rooted in delivering safe, enriching content experiences while enabling brands to engage with audiences in trusted, high-impact environments. In addition to his executive career, Mr. Bird currently serves on the boards of Tailored Brands, TileBar, and the Larry H. Miller Company, where he chairs the Investment Committee. He is also part of the Ownership Advisory Group for the NHL's Dallas Stars and supports several education and policy-focused organizations. "I'm excited to join APMC during this period of rapid innovation and expansion," said Mr. Bird. "The company's vision for safe, purposeful, and brand-positive streaming aligns perfectly with where consumer expectations are headed and I look forward to contributing to its next stage of growth." Mr. Bird holds an MBA from Babson College (Summa Cum Laude) and a bachelor's degree from Ithaca College, where he was an All-American swimmer. For more information on APMC's streaming and monetization solutions, visit ABOUT APMC A Parent Media Co. Inc. (APMC) is a media and technology company focused on providing innovative solutions to consumers and brands. APMC is a leader in Safe Streaming™ delivering an end-to-end solution to brands and platforms with an emphasis on unlocking incremental revenue. Utilizing proprietary streaming and monetization technologies, APMC reaches millions of homes globally through its products including Dude Perfect Streaming Service, Glitch+™, Victory+™ and Safe Exchange™. Whether through FAST channels or VOD streaming, APMC specializes in OTT content delivery and monetization across major connected TV and mobile platforms. Visit to learn more. LinkedIn: X: Media Contact: Contact | media@ Contact Information Madeleine Moench madeleine@ Jeremy Mason Chief Brand Officermedia@ SOURCE: A Parent Media Co. Inc. Related Images View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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