New Zealand Rugby and Ineos reach settlement over sponsorship dispute

New Zealand Rugby and Ineos have reached a settlement agreement following their dispute over a sponsorship contract. British-owned petrochemical firm Ineos, which holds a stake in Manchester United as part of its sport portfolio, walked away early from its sponsorship deal of New Zealand Rugby (NZR). It was a move that led to legal action from the governing body. On Monday, both parties issued a statement to say the issue has been resolved. "New Zealand Rugby and Ineos can confirm that a settlement has been reached between the two parties," the joint statement read. "Whilst the details remain confidential, both organisations are satisfied with the outcome and acknowledge a desire to now move forward." Ineos, which is chaired by Sir Jim Ratcliffe, agreed in 2021 to become performance partner of NZR from 2022 to 2027. The deal included Ineos branding on the back of playing shorts and on the front of training jerseys for the nation's teams, including three-time World Cup winners the All Blacks and six-time women's world champions the Black Ferns. However, NZR said in February that Ineos had "failed to pay the first instalment of the 2025 sponsorship fee, confirming its decision to exit our six-year agreement". Citing the struggling chemicals industry in Europe, because of "high energy taxes and extreme carbon taxes" along with "the deindustrialisation of Europe", Ineos said in a statement at the time: "We have had to implement cost-saving measures across the business.

"We sought to reach a sensible agreement with the All Blacks to adjust our sponsorship in light of these challenges."

https://worldnewsguru.us/?p=26303&network_id=

Comments

Celebrity spa haunt Champneys to explore £250m sale

The proprietor of Britain's supreme-known spa hotel has known as in bankers to attend explore strategic concepts on the eve of its centenary. Sky News has learnt that Champneys has appointed Cavendish to picture it on attainable deal opportunities, including the acquisition of a recent dwelling as successfully as a sale of the enterprise. The company's net sites are known for his or her A-checklist celeb clientele, including Daniel Craig, Anthony Joshua, Kate Moss, Brad Pitt and Naomi Campbell. Money most recent: Warning for millions of mortgage borrowers Diana, Princess of Wales, used to be moreover acknowledged to be a frequent Champneys guest. The chain now contains a handful of net sites, including at Wooded space Mere in Hampshire and the everyday Henlow spa in Bedfordshire. Champneys is now understood to be in talks to finalise the addition of a further dwelling by shopping an gift spa hotel. The company used to be previously owned by the unhur...

Stocks and dollar end 2024 steady, 2025 all about Trump

By Ankur Banerjee and Alun John SINGAPORE/LONDON () -World stocks held steady on Tuesday in cautious year-end trading that has seen investors bracing for the incoming Donald Trump administration by scaling back bets on deep U.S. interest rate cuts in 2025, helping the dollar stand tall against most other currencies. Volumes were light with a holiday for the New Year looming, with the Santa-rally largely failing to materialise as elevated Treasury yields weigh on high equity valuations and boost the greenback. MSCI's world share index was flat on the day, but set to wrap up 2025 with a 16% annual gain. This year's rally has been largely a U.S. phenomenon, with the having risen around 24% compared with an 8% gain for MSCI's broadest index of Asia-Pacific shares outside Japan, and just 5% for Europe's . () But the mood latterly has been more cautious on the back of higher U.S. Treasury yields. The yield on the 10-year note reached 4.64% late last week, its highest...

US Senate passes government funding bill, averts shutdown

By Richard Cowan, Bo Erickson, Andy Sullivan and Katharine Jackson WASHINGTON () -The U.S. Congress passed spending legislation early on Saturday in a down-to-the wire burst of activity that will avert a destabilizing government shutdown ahead of the busy holiday travel season. The Democratic-controlled Senate in an 85-11 vote passed the bill to continue government funding 38 minutes after it expired at midnight (0500 GMT Saturday). The government did not invoke shutdown procedures in the interim. The bill will now be sent it to White House, where President Joe Biden is expected to sign it into law. The package had earlier cleared the Republican-controlled House of Representatives with bipartisan support. The late-night vote capped a frantic week that saw President-elect Donald Trump and his billionaire ally Elon Musk defeat an initial bipartisan deal, throwing Congress into disarray. The final version stripped out some provisions championed by Democrats, who accused Republic...

World News Guru

Search This Blog