Merck Mercuriadis, the maverick founder of Hipgnosis Songs Fund, is launching a new investment firm targeting artist management companies and music catalogs through a partnership structure that gives acts and their representatives ownership stakes.
The Financial Timesreported on Saturday (July 5) that Mercuriadis’ new venture has already secured commitments in the “hundreds of millions” of dollars, citing people familiar with the matter.
The FT quoted Mercuriadis as saying: “I’m going to amass five or six really important management companies, all of which have superstar artists and superstar managers that go with them.
“It’s all about them having control and all about them making the majority of the money [rather than labels].”
Mercuriadis also plans to buy music catalogs that will provide “very predictable, reliable, low-risk” income, according to the FT.
Mercuriadis’ new company – just like his former company – will be called Hipgnosis.
Mercuriadis stepped down as chairman of Hipgnosis Song Management last year after Blackstone acquired publicly traded Hipgnosis Songs Fund for $1.584 billion (approximately a $2.2 billion enterprise valuation) in July 2024.
“I’m going to amass five or six really important management companies, all of which have superstar artists and superstar managers that go with them.”
Merck Mercuriadis
Following that transaction, HSF’s 40,000 songs were combined with the privately held Hipgnosis Songs Capital (aka Hipgnosis Songs Assets) – home to copyrights associated with Leonard Cohen, Justin Timberlake, Justin Bieber, Nelly Furtado, and Kenny Chesney – along with the investment adviser, Hipgnosis Song Management.
This combined, Blackstone-owned company was then rebranded to Recognition Music Group, removing Hipgnosis’ famous upside-down elephant logo.
In turn, this left Mercuriadis free to revive it for his new venture.
Mercuriadis told the FT, as he previously mentioned at Canada’s Departure conference, that one of his long-term ambitions is to buy back the $2 billion+ catalog of music rights he assembled at (the old) Hipgnosis.
“One of my goals is to buy the catalog back. Blackstone are very smart people. They’re getting a great return on the catalog that I put together.”
Merck Mercuriadis
“One of my goals is to buy the catalog back. Blackstone are very smart people. They’re getting a great return on the catalog that I put together. So I’m going to have to pay properly for it,” he said.
“The one thing that everyone has said post the sale is, ‘OK, this [sale price] now seems cheap.’”
Nearly a month ago, Recognition Music Group formed a Senior Advisory Group and appointed Matt Spetzler as Chairman, alongside Lisa Alter and David H Johnson as members. Spetzler is the founder of Jamen Capital and a veteran technology and media investor.
New research has found that drinking camel milk can reduce the severity of asthma caused by house dust mites, a major trigger. While the research is still in the early stages, it opens the door to using camel milk in combination with existing therapies.
For asthmatics, a significant trigger of allergic reactions is house dust mites (HDM), the tiny bugs that commonly live in house dust. Present in virtually every home worldwide, and thriving in warm, humid environments, they can’t be eliminated entirely, so they always pose a threat.
A new international study has found that, in mice, camel milk helped reduce the development and severity of asthma triggered by HDM.
In the present study, the researchers tested the effect of camel milk on mouse models of asthma. Three groups of mice were used: healthy (naïve), asthma induced by allergens (HDM), and asthma-induced treated with camel milk (CM/HDM). Camel milk was given orally, 0.5 ml, five times a week, starting a day before allergen exposure and continuing throughout the study. Mice were then exposed to increasing doses of methacholine, a drug that causes the airways to narrow and is used to evaluate how “reactive” or “responsive” the lungs are. Lung fluid, tissue, and cells were analyzed for signs of inflammation and immune response.
The researchers found that mice exposed to HDM showed significantly higher airway hyperresponsiveness. This means the airways were overly sensitive and prone to narrowing in response to triggers such as allergens. This type of exaggerated response, which can lead to coughing, wheezing, and shortness of breath, is often associated with asthma. Camel milk reduced this airway hyperresponsiveness back toward normal levels. It also reduced the total number of immune cells in the lungs, particularly eosinophils, a type of white blood cell that plays a key role in allergic asthma.
Camel milk was also seen to reduce the levels of helper T (Th) cells, specifically Th2 and Th17. Th2 cells play a crucial role in the immune response, particularly in allergic reactions, and are known to contribute to asthma. Similarly, Th17 cells have been implicated in the development of various autoimmune and inflammatory diseases. It also lowered levels of inflammatory chemicals, called cytokines, which are central to allergic responses. The researchers also found that camel milk suppressed CCL17, a chemokine (signaling protein) that attracts certain types of immune cells, particularly T cells, to inflammatory sites.
House dust mite under the microscope
Previous studies have shown that camel milk has therapeutic properties. It’s richer in minerals, vitamins, and antioxidants than other mammalian milks and, compared to cow’s milk, contains whey proteins, which are of high nutritional value. It’s also known to contain lactoferrin, a protein with immune-supporting properties, and immunoglobulin G (IgG), a type of antibody. Interestingly, research has found that asthmatics tend to have lower levels of IgG.
While camel milk is rich in these bioactive compounds, the study didn’t isolate or quantify which specific components were responsible for the observed effects. Another limitation was that no comparison was made with cow’s milk. Although cow’s milk is more commonly consumed and has also shown immune benefits, it was not used as a control or comparator. Because the study was conducted on mice, the results may not translate to humans. All of the camel milk used in the study was from one farm, which limits the generalizability of the findings, as milk composition can vary by region, camel breed, and environment.
Despite these limitations, the findings are promising. Camel milk may hold real potential as a supplementary treatment for allergic asthma, especially due to its anti-inflammatory and immune-modulating properties. The findings support traditional claims and earlier small human trials suggesting camel milk may be beneficial for asthmatics.
However, human clinical trials are essential before camel milk can be recommended as a treatment or preventive measure for asthma. There may be value in exploring the use of camel milk in combination with existing therapies, or even as a dietary preventive measure in high-risk populations.
United Kingdom Maritime Trade Operations (UKMTO) reports the vessel is taking on water after being targeted with gunfire and rocket-propelled grenades.
A commercial vessel in the Red Sea has come under attack after small boats fired rocket-propelled grenades and automatic weapons towards the ship.
According to the organisation United Kingdom Maritime Trade Operations (UKMTO), the incident took place 94km (51 nautical miles) southwest of the Yemeni port of Hodeidah.
“The vessel has been engaged by multiple small vessels who have opened fire with small arms and self-propelled grenades. [The] armed security team have returned fire and situation is ongoing,” said UKMTO, which is run by Britain’s Royal Navy.
The UKMTO said the attack resulted in a fire onboard and the vessel began taking on water Sunday night as its crew prepared to abandon ship.
“Authorities are investigating,” it said, adding later the ship was ablaze after being “struck by unknown projectiles”.
“UKMTO has had confirmation from the Company Security Officer that the vessel is taking on water and crew are preparing to abandon ship,” a statement said.
Maritime security sources added that the vessel was identified as the Liberian-flagged, Greek-owned bulk carrier Magic Seas.
British maritime security firm Ambrey said in an advisory that the ship was attacked by four unmanned surface vehicles [USVs].
“Two of the USVs impacted the port side of the vessel, damaging the vessel’s cargo,” Ambrey added.
The Yemen-based armed group the Houthis began targeting vessels in the Red Sea shortly after Israel’s war on Gaza began in October 2023, which the Houthis say is in defence of the Palestinians living in the besieged enclave.
Since November 2023, the Houthis have launched more than 100 attacks targeting commercial vessels, disrupting global shipping and forcing firms to reroute.
Their campaign has expanded to include vessels linked to the United States and the United Kingdom since the two countries initiated military strikes in January 2024.
In May, the Houthis and the US agreed on a ceasefire that would see the end of attacks on US ships. But the Houthis vowed to continue to target Israeli-linked vessels.
A renewed Houthi campaign against shipping could again draw in US and Western forces to the area.
This comes at a sensitive moment in the Middle East as a possible ceasefire in the war on Gaza hangs in the balance, and as Iran weighs whether to restart negotiations over its nuclear programme following US air strikes targeting its most sensitive atomic sites.
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A Domino’s Pizza restaurant in the US state of Utah exploded on Saturday night, after a car veered off the road and crashed into the building, the local fire agency has said.
In a statement shared on Instagram, United Fire Authority (UFA) said that a three-car accident resulted in one vehicle crashing into a pizza restaurant, “rupturing a gas line and igniting a massive fire”.
UFA said over 60 firefighters were involved in efforts to tackle the blaze and that three individuals were transported to hospital. There have been no reports of any fatalities.
Cultural performances mark the occasion, while messages from global leaders are read out during the ceremony.
The Dalai Lama, spiritual leader of Tibetan Buddhists, has turned 90 to cap a week of celebrations by followers during which he riled China again and spoke about his hope to live beyond 130 and reincarnate after dying.
Dressed in his traditional yellow and burgundy robe, the Dalai Lama arrived at a Buddhist temple complex to smiles and claps from thousands of monks and followers who had gathered on a rainy Sunday morning in the north Indian hill town of Dharamshala, where he lives.
He waved and greeted them as he walked slowly to the stage with support from monks.
“As far as I am concerned, I have a human life, and as humans, it is quite natural for us to love and help one another. I live my life in the service of other sentient beings,” the Dalai Lama said, flanked on the stage by longtime supporters, including Western diplomats, Indian federal ministers, Hollywood actor Richard Gere, and a monk who is expected to lead the search for his successor.
Fleeing his native Tibet in 1959 in the wake of a failed uprising against Chinese rule, the 14th Dalai Lama, along with hundreds of thousands of Tibetans, took shelter in India and has since advocated for a peaceful “Middle Way” to seek autonomy and religious freedom for the Tibetan people.
A Nobel Peace Prize winner, the Dalai Lama is regarded as one of the world’s most influential religious leaders, with a following that extends well beyond Buddhism – but not by Beijing, which calls him a separatist and has sought to bring the faith under its control.
In a sign of solidarity, Taiwan’s President William Lai Ching-te, leaders of Indian states bordering Tibet, and three former United States presidents – Barack Obama, George W Bush, and Bill Clinton – sent video messages which were played during the event.
In the preceding week of celebrations, the Dalai Lama had said he would reincarnate as the leader of the faith upon his death and that his nonprofit institution, the Gaden Phodrang Trust, had the sole authority to recognise his successor.
China has said the succession will have to be approved by its leaders, and the US has called on Beijing to cease what it describes as interference in the succession of the Dalai Lama and other Tibetan Buddhist lamas.
Show of solidarity
Guests gathered at the ceremony took turns to speak, including Indian Parliamentary and Minority Affairs Minister Kiren Rijiju, a practising Buddhist, who had earlier made a rare statement contradicting China by backing the Dalai Lama’s position on his successor.
He later clarified that the statement was made in his personal capacity as China warned New Delhi against interfering in its domestic affairs at the expense of bilateral relations.
On Sunday, Rijiju said the Dalai Lama was India’s “most honoured guest”. “We feel blessed for his presence here in our country,” he said.
Cultural performances were held throughout the morning, including from Bollywood playback singers, while messages from global leaders were read out.
“I join 1.4 billion Indians in extending our warmest wishes to His Holiness the Dalai Lama on his 90th birthday. He has been an enduring symbol of love, compassion, patience and moral discipline,” Indian Prime Minister Narendra Modi wrote on X.
CEO Brian Niccol has pushed for Starbucks to be more inviting to customers, and now some of its locations are seeing major changes aligned with his vision.
Starting in New York and Southern California, Starbucks is enhancing its stores with premium features aimed at cultivating a “coffeehouse vibe,” as part of Niccol’s Back to Starbucks plan. Among the changes, Starbucks is adding cozier seating, warmer lighting, and locally inspired art to try to give each redesigned location more of a unique feel.
Courtesy of Starbucks Coffee Company
At a Bridgehampton, NY, location that is among the first to be remodeled, cozy chairs and couches, accentuated by dark, Starbucks-themed green walls and hardwood floors give the location a distinct look. A redesigned store in East Hampton, NY also stands out for its wall art paying homage to the town’s seaside location and nautical roots.
Courtesy of Starbucks Coffee Company
Courtesy of Starbucks Coffee Company
The redesigned Starbucks locations are part of Niccol’s plan to make Starbucks a place where customers want to spend time. Apart from the redesigns, some of the changes include offering ceramic mugs for some in-house orders, as well as bringing back the condiment bar for customers to add their own milk and sugar to drinks. The company is also instructing its baristas to warmly acknowledge customers, to help them feel welcome.
Starbucks has also made big strategic changes to improve efficiency, including cutting down on its extensive food and drink menu and doing away with some options for drink customizations. A new order sequencing algorithm piloted during the first quarter has also helped the company reduce wait times, with three-quarter of orders at test locations arriving in under four minutes at peak.
Courtesy of Starbucks Coffee Company
The big changes Niccol has spearheaded have drawn praise from Starbucks founder Howard Schultz, who said he “did a cartwheel” after hearing about the CEO’s Back to Starbucks plan.
Still, the changes have yet to yield much in terms of financials, with the company reporting $8.8 billion for the second quarter, just below analyst expectations. Niccol said in an April note, however, that he was confident in his turnaround plan.
“We have a lot of work ahead, but we are on the right track and moving quickly,” Niccol said.
This picture of Renee Smajstrla was clicked at Camp Mystic on Thursday, her uncle wrote on Facebook
An eight-year-old girl and the director of an all-girls’ summer camp are among the victims of flash floods in Texas that have claimed at least 51 lives, including 15 children.
Officials say most of the victims have been identified. Authorities have not yet released any names publicly.
Here’s what we know so far about the victims.
Renee Smajstrla
Eight-year-old Renee Smajstrla was at Camp Mystic when flooding swept through the summer camp for girls, her uncle said in a Facebook post.
“Renee has been found and while not the outcome we prayed for, the social media outreach likely assisted the first responders in helping to identify her so quickly,” wrote Shawn Salta, of Maryland.
“We are thankful she was with her friends and having the time of her life, as evidenced by this picture from yesterday,” he wrote. “She will forever be living her best life at Camp Mystic.”
Camp Mystic, where 27 children are missing, is a nearly century-old Christian summer camp for girls on the banks of the Guadalupe River near Hunt, Texas.
Operated by generations of the same family since the 1930s, the camp’s website bills itself as a place for girls to grow “spiritually” in a “wholesome” Christian atmosphere “to develop outstanding personal qualities and self-esteem”.
Jane Ragsdale
Heart O’ the Hills
Jane Ragsdale was described as the “heart and soul” of Heart O’ the Hills camp
Heart O’ the Hills is another all-girls’ camp that sits along the Guadalupe River and it was right in the path of Friday’s flood.
Jane Ragsdale, described as the “heart and soul” of Heart O’Hills, “did not make it”, a statement shared on the camp’s official website said on Saturday.
Ragsdale, who started off as a camper then a counsellor, became the director and co-owner of the camp in 1976.
“We are mourning the loss of a woman who influenced countless lives and was the definition of strong and powerful,” the statement said.
No campers were residing at the site when the floods hit and and most of those who were there have been accounted for, according to the statement.
Sarah Marsh
Camp Mystic
Sarah Marsh, a student at Cherokee Bend Elementary School in Alabama, would have entered third grade in August.
She, too, was attending Camp Mystic and her grandmother, Debbie Ford Marsh, asked for prayers in a post on Facebook on Friday.
Just hours later she shared online that her granddaughter was among the girls killed.
“We will always feel blessed to have had this beautiful spunky ray of light in our lives. She will live on in our hearts forever!” she said.
In a post on Facebook, Alabama Senator Katie Britt said she’s “heartbroken over the loss of Sarah Marsh, and we are keeping her family in our thoughts and prayers during this unimaginable time”.
Janie Hunt
Nine-year-old Janie Hunt from Dallas, was also attending Camp Mystic and died in the floods.
Her grandmother Margaret Hunt told The New York Times she went to the camp with six of her cousins, who are all safe.
Margaret said Janie’s parents had to visit a funeral home and identify their daughter.
Janie is a great-granddaughter of the oil baron William Herbert Hunt.
Julian Ryan
As floodwaters tore through their trailer in Ingram, Texas, Julian Ryan turned to his fiancée Christina Wilson and said: “I’m sorry, I’m not going to make it. I love y’all” – Christina told Houston television station KHOU.
His body wasn’t recovered until hours later, after waters had receded.
Julian had just finished a late dishwashing shift at a restaurant when the Guadalupe River overflowed early Friday.
He and Christina woke to ankle-deep water that quickly rose to their waists. She told the station their bedroom door stuck shut and with water rushing in, Ryan punched through a window to get his family out. He severely cut his arm in the process.
Their 13-month-old and 6-year-old sons and his mother survived by floating on a mattress until help could arrive.
“He died a hero, and that will never go unnoticed,” Connie Salas, Ryan’s sister, told KHOU.
Dick Eastland
Richard “Dick” Eastland, the longtime co-owner and co-director of Camp Mystic, died while being flown to a Houston hospital.
His death was confirmed by Kerr County Judge Rob Kelly, who attended Bible study with Dick and described him as a pillar of the local community.
Dick’s wife, Tweety, was found safe at their riverside home, according to Texas Public Radio.
The Eastlands had run Camp Mystic, a girls’ summer camp on the banks of the Guadalupe River, since 1974, becoming the third generation of their family to do so.
According to the Washington Post, the couple have 11 grandchildren and much of the extended family is involved in camp life.
Their eldest son, Richard, manages the camp kitchen and their youngest, Edward, and his wife direct operations at Camp Mystic Guadalupe River.
Katheryn Eads
Katheryn Eads, 52, was swept away by floodwaters in the Kerrville area of Texas, early Friday morning after she and her husband, Brian, who told The New York Times, fled their campervan as rising water surged around them.
Another camper had offered them a ride and they made it across the street before the vehicle stalled in the flood.
Moments later, both were pulled into the current. Brian said he lost sight of his wife after being struck by debris. He survived by clinging onto a tree until he reached dry land.
Katheryn’s body was later recovered.
“God has her now,” her mother, Elizabeth Moss Grover, wrote on Facebook.
Amy Hutchinson, director of Olive Branch Counselling in Texas, where Katheryn had worked, told The Washington Post she was “a hope and a light to all who knew her… a stellar counsellor and professor.”
Blair and Brooke Harber
Two sisters from Dallas – 13-year-old Blair Harber and 11-year-old Brooke Harber – were staying with their grandparents along the Guadalupe River when their cabin was washed away, CBS News, the BBC’s US partner has reported.
Their parents were in a separate cabin and were not harmed.
Their grandparents are still unaccounted for.
The deaths were confirmed by St Rita Catholic Community, where Brooke was due to start sixth grade. Blair was preparing to enter eighth grade.
“Please keep the Harber family in your prayers during this time of profound grief. May our faith, our love, and our St. Rita community be a source of strength and comfort in the days ahead,” said Father Joshua J Whitfield in correspondence with church members.
Lila Bonner
Nine-year-old Lila Bonner, a Dallas native was found dead after flooding near Camp Mystic, according to NBC News.
“In the midst of our unimaginable grief, we ask for privacy and are unable to confirm any details at this time,” her family said in a statement to the news outlet.
“We ache with all who loved her and are praying endlessly.”
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