report the king

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• Attack of the Iron Horde
• Under Siege
• Subversive Scouts
• Peeking into the Portal
• Ending Executions
• Investigating the Invasion
• Lunatic Lieutenants
• For Nethergarde!
• Mementos of the Fallen
• Toothsmash the Annihilator
• Death to the Dreadmaul
• Enohar's Revenge
• Gar'mak Bladetwist
• Finally: Report to the King

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Report to the King

• View history

• 1 Objectives
• 2 Description
• 4 Completion
• 6 Progression
• 7 Patch changes
• 8 References
• 9 External links

Objectives [ ]

Speak with King Anduin Wrynn .

Description [ ]

We have slowed the Iron Horde down, but this war is far from over... I'll stay here and continue our efforts to hold back the Iron Horde.

The King needs to know about what we have accomplished here today, and the threat we face in the future.

It is probably best if you report to King Wrynn yourself, <name>.

Rewards [ ]

You will receive one of:

You will also receive:

Completion [ ]

This is worse than I imagined.

The Iron Horde is proving to be a massive threat to our people... I don't want any more bloodshed, but I fear we are out of options.

We need a plan before we strike.

Don't forget the standing port to Stormwind back at the Shattered Beachhead . The quest arrow will point you to Stormwind - which is a long flight. A short trip due east to the portal will get you there fast.

Progression [ ]

Patch changes [ ]

• Characters that have completed the Iron Horde Incursion event can now visit a vendor near their faction's respective beachhead to purchase replacement quest rewards.

References [ ]

• ^ Lore 2014-10-15. Iron Starlette question . Archived from the original  on 2014-10-15.

External links [ ]

• World of Warcraft
• 3 Sylvanas Windrunner

Royal Family latest: 'Considerable turning point' as King greets well-wishers after church service

The King and Queen have attended church for an Easter service. They were joined by other royals at the annual service at St George's Chapel at Windsor Castle.

Sunday 31 March 2024 15:01, UK

• Princess of Wales
• Royal Family

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• King and Queen attend service as Charles greets well-wishers - Prince and Princess of Wales absent
• In pictures: Charles speaks with crowds  | Royals attend service
• Watch: Royal fan tells King to 'keep going strong' in touching exchange
•   'Cheering sights' of monarch mark 'considerable turning point' 
• Archbishop of Canterbury wishes King and Princess of Wales well
• Katie Spencer : 'Very significant day for the King'

In the meantime, you can scroll back to read today's coverage. 

By Katie Spencer , arts and entertainment correspondent

On a cold day at Windsor Castle those who'd lined up outside in the early hours hadn't been expecting much. 

It wasn't certain whether they'd even be let in but eventually they were and those who made it inside certainly got more than they bargained for from their royal encounter.

Just a brief glimpse of the monarch before the service - a wave, a smile, but sufficient to those who waited given his cancer treatment - then afterwards came the King Charles we're more used to seeing. 

Handshakes, jokes, smiles, laughter. 

The optics of a monarch who isn't hiding away but who is upbeat and in control.

A much smaller Easter gathering than in previous years but at a difficult time personally for him clearly this meant so much.

Perhaps an indication of how he is feeling in himself, certainly a sign of his determination to get back to work. Small steps but with big meaning.

A well-wisher told King Charles to "never give in" and "keep going strong" as the monarch greeted royal fans following the Easter service at Windsor today.

The 75-year-old monarch's treatment for cancer was announced at the start of February, but he has been carrying out low-key official duties behind palace walls.

Over the course of the month, he also welcomed a series of foreign officials to Buckingham Palace, including high commissioners of Jamaica, Tanzania and Singapore.

As he greeted crowds today, the King had a comical exchange with one royal fan.

The well-wisher said: "Your Majesty, Camilla is 17 now, my King Charles Spaniel. She's 17."

"Goodness me, I'd get a new one as well," the King jokingly replied.

Charles was applauded by crowds as he and the Queen re-emerged from St George's Chapel to cries of "Happy Easter".

The King shook hands and spoke with the crowds after attending the Easter Sunday service.

Many wished Charles a happy Easter as he spent several minutes greeting the line of people.

King Charles enjoys meeting people and will have been "reluctant" to leave the chapel grounds, Sky's royal commentator Alastair Bruce has said.

He said for the King and Queen their attendance at the Easter service today was a return "to some degree" to normality.

"I'm not in a position to guess how he is viewing his current situation or what a burden it must be to go through the various treatments he has to face but at the same time I think we witnessed in his Coronation a determination to dedicate himself," he said.

"He has been fulfilling his duties, constantly meeting ambassadors or meeting the prime minister who are important to the process of government.

"He will be reluctant to get into the state Bentley and leave a group of people who came out to see him on this day when that is what he really enjoys doing.

"When he gets to talk to people he has a very natural way, he has always wanted to have those moments."

King Charles and Queen Camilla have made their way out of St George's Chapel following the Easter Sunday service.

Camilla is handed an Easter bouquet from a young boy outside the chapel and the royals smile and wave.

The monarch walks over to the crowds gathered outside and shakes hands and speaks with them before entering his vehicle and leaving the grounds.

Today is a "considerable turning point" for the royals following the King's cancer diagnosis, a royal biographer has said.

Robert Hardman told Sky News: "If you compare where we are now with the King with where we were shortly after his cancer diagnosis, royalists everywhere will be pretty cheered up with the sights we are seeing in Windsor."

Mr Hardman went on to say ever since becoming monarch, Charles has had a "clear idea" of how he wants to handle being head of state.

He said he "genuinely likes being out there and meeting people".

The Archbishop of Canterbury has wished the King and Princess of Wales well in an Easter sermon at Canterbury Cathedral.

Justin Welby encouraged the congregation to "pray" for Charles and Kate, who are both undergoing treatment for cancer, and commended their "dignity" in responding to the diagnosis.

Mr Welby also praised the royals' "lack of selfishness" in speaking of their health.

Beginning his sermon, he said: "In each of our lives, there are moments which change us forever - sometimes it is individual.

"We have watched and sympathised with, and felt alongside, the dignity of the King and the Princess of Wales as they have talked of their cancer and in doing so, by their lack of selfishness, by their grace and their faith, boosted so many others."

Among the royals in attendance at the service today were the Princess Royal and her husband Vice Admiral Sir Timothy Laurence.

Th Duke and Duchess of Edinburgh, the Duke of York and Sarah, Duchess of York, were also seen arriving at the chapel.

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Document Description

State of the Finances of France, laid before the King, by Mr. Necker, Director-General of the Finances also called Report to the King, Account to the King Published January 1781 PDF, English translation Here is the French original Compte rendu au roi

Jacques Necker

University of Illinois at Urbana-Champaign / archive.org

Report to the King / Compte rendu au roi 1781

Report to the King

Ok…this doesn’t seem like it is threaded properly.

I had a level 27 hunter. I went to Chromie and chose Cataclysm timeline. It gave me a popup quest about protecting the eastern kingdoms, but when I went to the board, it only has old-world zones, so I chose Blasted Lands. When I got there, it was the WoD timeline with the invasion, so I didn’t have access to Quartermaster Lungertz.

I decided to do the Iron Horde quests. I completed them and got the quest “Report to the King.”

When I get to Stormwind, the king (Anduin Wrynn) is not there.

• First of all, I had access to the other timelines from Chromie, but there seemed to be something wrong with Cataclysm. I cannot access it at 27.
• Since I got a heroes call to Blasted Lands, it should have had me in the proper timeline when I reported.
• The king is missing. I did go back to Chromie and try the Iron Horde timeline, but that didn’t work either.

Did you ever find out what to do? I’m having the same issue.

Yeah I think when we choose Cataclysm, you are activating all the classic zones as well. You can’t do the Cata stuff until like 30 or 35.

Sustainability and Social Responsibility: Regulation and Reporting pp 55–80 Cite as

CSR, Corporate Governance, and the King Reports

• Henk Kloppers 5  
• First Online: 09 August 2017

2220 Accesses

2 Citations

Part of the book series: Accounting, Finance, Sustainability, Governance & Fraud: Theory and Application ((AFSGFTA))

CSR has not been embedded in the South African corporate conscience to the extent that it has, for example, in developed countries. However, the last decade or so has seen significant leaps in this regard. This is mainly due to the release of the authoritative Reports of the King Commission on corporate governance and specifically the King II and King III Reports. This contribution examines the CSR content in these Reports in order to provide guidance to businesses on the issue of CSR.

• Corporate governance
• Governance Codes
• King Commission

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In this context, King II represents the second step in the evolutionary process of corporate governance in South Africa.

Legislative developments in the area of labour law (such as the Labour Relations Act 66 of 1995 and the Employment Equity Act 75 of 1997), environmental law (such as the National Environmental Management Act 107 of 1998) and commercial law (statutory amendments to the Companies Act 61 of 1973).

Legislative interventions such as the Insider Trading Act 135 of 1998, the Public Finance Management Act 1 of 1999 and amendments to the Banks Act 94 of 1994. For a discussion of these legislative advancements, see IoD ( 2002a ).

West ( 2006 ) is of the opinion that it appears as if the principle of accountability as identified in the Report is applicable to shareholders only, and not to other stakeholders.

The reference to accountability and responsibility corresponds with the key principles of social responsibility as identified by the ISO ( 2010 ).

The shareholder supremacy approach identifies shareholders as the only grouping with a legitimate interest in the business. King II stipulates that this approach is not in line with the international approach to corporate governance, where inclusivity is one of the foundations. According to King II (IoD 2002a ), one of the reasons for the rejection of this approach is to be found in the fact that a company “becomes a separate persona in law and no person whether natural or juristic can be owned”.

The inclusive approach advocated in King II received further endorsement in the King Report on Governance for South Africa — 2009 (Miles and Jones 2009 ; Gstraunthaler 2010 ; West 2006 ; Esser 2009 ). For a discussion of the inclusive approach, see Kloppers ( 2012 ).

Who, according to Reed ( 2002 : 239), “are the primary object of social and economic development and who not infrequently suffer negative development effects from irresponsible corporate practice”.

Although environmental and social aspects are referred to as non-financial matters, it should be stressed that these aspects have very real financial consequences. The reference to “non-financial” merely serves to distinguish these aspects from the traditional financial bottom line.

According to Mervyn King, the chairperson of the King Committee, as quoted by Barrier ( 2003 : 73) “[t]here’s some suggestion that certain aspects of the recommendations in King II should be legislated—in other words, be compulsory for all companies. Business is a difficult matter, and those who run it can’t have the prescience to envisage what is going to happen from day to day, so they need flexibility in the process associated with administering their companies. To have the rigidity of a statute doesn’t make sense”.

The Johannesburg Securities Exchange Limited (JSE) does, however, require listed companies to disclose their compliance (or lack thereof) with the recommendations in King II through the use of a narrative statement which would enable shareholders and potential investors to evaluate the company’s application of the principles of corporate governance (JSE Listing Requirements par 7.F.5; Esser and Coetzee 2004 ; Deloitte and Touche n/a).

King II does, however, identify shareholder activism as an important enforcement mechanism which can be utilised by shareholders to ensure the implementation of the recommendations contained in King II (IoD 2002a ). For a discussion on King II , corporate governance and shareholder activism, see Rademeyer and Holtzhausen ( 2003 ), where the authors refer to a variety of mechanisms available to shareholders in terms of the Companies Act 61 of 1973 through which concerns about corporate governance can be raised.

It should be noted that in many instances the reason for following the voluntary, self-regulatory approach is found in legal frameworks which do not make sufficient provision for the control of corporate activities. As a result of this inadequate legal framework, business sectors “almost have no other choice than starting the process of corporate governance reform in a voluntary self-regulatory manner” (Rossouw 2005 : 98).

For a discussion of the requirement of integrated sustainability Reporting, see par 2.5.2.

King II follows the “comply or explain” approach, where those entities which fall within its scope of application are required to comply or provide justification for non-compliance (Aka 2007 ). A much more flexible approach of “apply or explain” is followed in King III. For a discussion of this approach, see par 3.5.

King II became applicable to identified business enterprises with financial years commencing on or after 1 March 2002.

Although the focus of King II is on companies, other legal entities used to conduct business should take note of the content and adapt and apply the recommendations to the extent that the recommendations could guide their business management.

The other characteristics of good governance according to King II are discipline, transparency, independence, accountability, responsibility, and fairness (IoD 2002b ).

Except for listed companies for which compliance with King II is a listing requirement.

Despite the fact that no enforcement authority is established, various legal mechanisms exist to enforce the principles of corporate governance which overlap with existing legal principles. Such principles include the director’s fiduciary duties and the duty to act with care and skill as well as other statutorily imposed duties. Contravention of these duties would subject the director to criminal as well as civil prosecution.

The term “sustainability” in this context is derived from “sustainable development” which is defined as “development that meets the needs of the present without compromising the ability of future generations to meet their own needs” (IoD 2002a : 91).

King II refers to various defining characteristics of good corporate citizenship, which includes corporate governance (managing businesses in a responsible and accountable fashion), respect for human rights, environmental responsibility, and community engagement through the promotion of collaborative partnerships (IoD 2002a ).

This issue is also one of the issues which a company’s social and ethics committee is now required to monitor. See Kloppers ( 2013 ).

Compliance with this requirement would also be in line with the board’s responsibility to have proper risk management systems in place (as required by paragraph 3 of the Code). HIV/AIDS represents a potential risk to any business. It requires dedicated attention from management.

This requirement reflects the indicator on the BEE scorecard referring to preferential procurement. For a discussion of the BEE scorecard, see Kloppers ( 2012 ).

The issue of equal representation in the workplace is addressed in the Employment Equity Act , which specifically requires an employer to draft an employment equity plan which provides an outline of how it intends to achieve proper racial representation in all levels of employment.

A company’s contribution to BEE will be evident from the points which it has achieved on the BEE scorecard.

The other two categories of socially responsible investment referred to are positive and negative screening, and shareowner advocacy and corporate engagement. In terms of the first of these, positive screening is used to identify companies with a good CSR record, while negative screening refers to criteria used to exclude companies with unacceptable CSR track records. “Shareowner advocacy and corporate engagement” refers to “the process of using shareowner influence to help bring about corporate social and environmental change” (IoD 2002a : 118). Community investment is not only one of the seven legal principles of CSR, but also features very prominently in the ISO Guidance .

In July 2011, the Institute of Directors of Southern Africa released the Code for Responsible Investing in South Africa 2011 (CRISA), which is intended to provide guidance to institutional investors on responsible investing. This Code builds on the recommendation of King II to integrate environmental, social, and governance considerations into investment decision making (IoD CRISA 4) and is aimed at institutional investors as asset owners (such as pension funds or insurance companies). The Code is based on the following five principles: Principle 1: An institutional investor should incorporate sustainability (which is defined as “the ability of a company to conduct its operations in a manner that meets existing needs without compromising the ability of future generations to meet their needs. Sustainability includes managing the impact that the business has on the life of the community…” (IoD n/a: 9), considerations into its investment analysis and investment; Principle 2: An institutional investor should demonstrate its acceptance of ownership responsibilities in its investment arrangements and investment activities; Principle 3: Where appropriate, institutional investors should consider a collaborative approach to promote acceptance and implementation of the principles of CRISA and other Codes and standards applicable to institutional investors; Principle 4: An institutional investor should recognise the circumstances and relationships that hold a potential for conflicts of interest and should proactively manage these when they occur; and Principle 5: Institutional investors should be transparent about the content of their policies, how the policies are implemented, and how CRISA is applied to enable stakeholders to make informed assessments (IoD n/a).

Although these are labelled as non-financial issues, they have potentially significant financial implications for the company.

For a discussion of the GRI guidelines, see Kloppers ( 2012 ). These principles include reliability, relevance, and clarity.

According to King II (IoD 2002a : 6) “[T]he inclusive approach recognises that stakeholders such as the community in which the company operates, its customers, its employees and its suppliers need to be considered when developing the strategy of a company”.

“The modern approach is for a board to identify the company’s stakeholders, including its shareowners” (IoD 2002a : 7).

“A company is likely to experience indirect economic benefits such as improved productivity, and corporate reputation by taking those factors into consideration” (IoD 2002a : 12).

“… companies in South Africa must recognise that they co-exist in an environment where many of the country’s citizens disturbingly remain on the fringes of society’s economic benefits” (IoD 2002a : 18).

The voluntary nature of initiatives gives rise to the inability of government to enforce them.

Regarding Reporting on social issues, the authors found that companies did Report on issues of occupational health and safety, employment equity, and BEE. The reason for Reporting in these areas is to be found in the fact that these disclosures are required by law and that companies are merely complying with their legal obligations (Sonnenberg and Hamann 2006 ). This problem is not unique to South Africa, however. On the international front, Gray ( 2001 : 13) writes “the quality of attestation to social and environmental Reports is woefully poor”, while with reference to the UK, Sittle ( 2002 : 349) notes that “there are significant distortions and omissions of information concerning ethical issues in current U.K. Reporting systems”. Laufer ( 2003 : 254) concludes that “simply relying on the integrity of corporate representations should seem increasingly naïve to those inside and outside the SRI community”.

71 of 2008.

For a discussion on the synergies and interaction between King III and the 2008 Companies Act , see King ( 2010 ). For an enlightened discussion of governance issues in terms of the new Companies Act , see Deakin ( 2010 ), Olson ( 2010 ), Katz ( 2010 ), and Du Plessis ( 2010 ).

Regarding governance, it should be noted that since King III is based on a voluntary approach, compliance with it will result in compliance with the Act, but that compliance with the prescriptions of the Act does not necessarily imply compliance with King III (King 2010 ).

Institutional investors’ commitment to corporate governance is evident from the fact that institutional investors are willing to pay a substantial premium for companies with strong corporate governance policies (Picou and Rubach 2006 ; Newell and Wilson 2002 ).

These three environments are commonly referred to as the 3Ps.

In this regard, Gstraunthaler argues that corporate governance “might be used as a tool to enhance the legitimacy of companies” (Gstraunthaler 2010 ).

One of the key features of accountability is that once it is established who is accountable to whom and what they are liable to account for, it should be established what the standards are against which accountable actions are to be measure. [For a general discussion of accountability under the new Companies Act , see Ncube ( 2010 )]

The recommendations contained in the King III Report became effective on 1 March 2010.

When the definition of CSR in King III is compared to the definition provided by the ISO Guidance , the similarities are evident. Both of these leading instruments regard CSR as the acceptance of responsibility (accountability) for the impacts that a business’ decisions and actions have on society and the environment. Both of these instruments further establish the link between CSR and sustainable development and identify the important role of businesses in contributing to sustainable development. Further, both of the definitions place a strong emphasis on the role of stakeholders and the fact that the legitimate interests of stakeholders have to be taken into account in business decisions and actions.

For an overview of definitions provided for CSR, see par 3.2.

Although the definition could not refer to itself, the impact of King III is such that reference should be made to decisions and activities that are in compliance with applicable law and consistent with national and international norms of behaviour. King III represents an important step towards establishing national norms of behaviour for businesses.

The American Sarbanes - Oxley Act of 2002, which is aimed at preventing financial scandals such as the Enron or World Com scandals, follows the “comply or else” approach (IoD 2009a , b ). This act follows the government regulation approach to governance instead of the voluntary self-regulation approach advocated by King III (Esser 2009 ; Good 2009 ).

In the context of CSR, the “apply or explain” approach is also favoured by the Indian Government. In terms of s 135(5) of the Indian Companies Bill , 2011 certain companies are required annually to contribute at least 2% of the average net profits of the company made during the financial years preceding the current financial year to activities identified in its CSR policy. The section continues to state that if a company fails to spend the prescribed percentage, the board should provide reasons for not spending the amount. Companies should “apply” the section or “explain” the failure to do so without any further sanctions.

The exception to this rule is the board of the JSE. Since compliance with King III is non-optional for listed companies, the board of the JSE will act as an overseeing regulatory body responsible for ensuring compliance.

It should be noted that although King III relies on self-regulation, certain aspects contained therein might be included in legislation or industry-specific requirements, thus requiring compliance. In this regard, South Africa is one of the first countries requiring companies listed on the JSE to show their compliance with King III in order to maintain their listing. Listed companies are now required to Report in an integrated manner instead of Reporting on financial and sustainability issues in separate Reports (SAPA 2010 ).

In this context, “board” refers to the “functional responsibility of those charged with governance” in a business and does not necessarily imply a board of directors (IoD 2009b : 19). Due to the fact that the agricultural enterprises referred to in this thesis are all companies, the reference to “board” will imply a board of directors.

See Kloppers ( 2013 ) for a discussion of the requirements relating to social and ethics committees.

See par 1 above.

The King III Code recommends that the board should promote the stakeholder-inclusive approach of governance and that all decisions and actions taken by the board should be based on the values of good corporate governance as identified by the King III Report (IoD 2009a ), i.e. responsibility, accountability, fairness, and transparency (IoD 2009b ).

The United Nations Global Compact (UNGC) is an excellent example of a voluntary initiative containing accepted principles aimed at guiding business behaviour.

This notion of compliance with legislation and other governance instruments is repeated in Principle 6 of the King III Code , which will be discussed below.

S 1(a) of the Constitution (South Africa 1996 ).

The recommended practice for Principle 6.1 is that businesses must comply with all applicable legislation—the use of the word must makes this, a legal requirement. Practices which would result in good governance but which are not legally required are identified by the use of the word “should”, while the use of the word “may” refers to a practice that could be considered (IoD 2009b ).

In this regard, the King III Code recommends that compliance should be an ethical imperative where the board understands the context of the law and how various pieces of legislation relate to one another (IoD 2009b ).

This statement reiterates two important theoretical underpinnings of CSR—the stakeholder approach and corporate citizenship.

The recommended practice according to the King III Code is that a business should in the first instance identify its main stakeholder groups, establish what these stakeholder groups’ perceptions of the business are, and based on these perceptions continue to manage the business’ reputation (IoD 2009b ).

Also see Esser ( 2009 ).

Principles 8.2, 8.3 and 8.5 respectively of the King III Report (IoD 2009a ).

As recommended by the King III Code 49.

This approach is reflected in the regulations addressing the social and ethics committee. The committee is under an obligation to also monitor and Report on matters related to social development.

The business should have measures in place to insure the integrity of the Report though the use of controls enabling the business to verify the content of its integrated Report (IoD 2009b ).

For a discussion of these principles, see paragraph 2 of the Framework .

For a discussion of these principles, see paragraph 3 of the Framework .

Aka PC (2007) Corporate governance in South Africa: analyzing the dynamics of corporate governance reforms in the “Rainbow Nation”. North Carolina J Int Law Commercial Regul 33:220–291

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Kloppers, H. (2018). CSR, Corporate Governance, and the King Reports. In: Gal, G., Akisik, O., Wooldridge, W. (eds) Sustainability and Social Responsibility: Regulation and Reporting. Accounting, Finance, Sustainability, Governance & Fraud: Theory and Application. Springer, Singapore. https://doi.org/10.1007/978-981-10-4502-8_3

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Godzilla x Kong: The New Empire has monster opening weekend, pulling in $80M at the box office

Meanwhile, the other empire, "Ghostbusters: Frozen Empire," slipped to No. 2.

Lester Fabian Brathwaite is a staff writer at Entertainment Weekly , where he covers breaking news, all things Real Housewives , and a rich cornucopia of popular culture. Formerly a senior editor at Out magazine, his work has appeared on NewNowNext , Queerty , Rolling Stone , and The New Yorker . He was also the first author signed to Phoebe Robinson's Tiny Reparations imprint. He met Oprah once.

There's a New Empire ruling the box office.

Godzilla x Kong: The New Empire took the No. 1 spot this week, dethroning the other empire, Ghostbusters: Frozen Empire .

The fifth film in the MonsterVerse franchise exceeded expectations with an $80 million premiere this weekend, Comscore reports, narrowly missing Dune: Part Tw o 's $81.5 million opening . Internationally, The New Empire grossed an additional $114 million for a global debut of $194 million, putting Godzilla x Kong well ahead of the Dune sequel's $178.5 million for the biggest global opening of the year.

Warner Bros. Pictures

The New Empire follows 2021's Godzilla vs. Kong , pitting the two behemoths against a colossal undiscovered threat hidden within the world, challenging not only their existence, but the very existence of humanity. Directed by Adam Wingard , the movie stars Rebecca Hall , Dan Stevens , and Brian Tyree Henry .

Ghostbusters: The Frozen Empire had a steep 65 percent drop from its debut last week , earning $15.7 million, bringing its domestic total to $73.4 million (and $108.5 million globally). Dune: Part Two showed signs of slowing down in its fifth week of release, earning $11.1 million for a domestic haul of $252.4 million ($626.1 million globally).

Columbia Pictures

With fours across the board, Kung Fu Panda 4 took the fourth spot in its fourth week of release, earning $10.2 million for a cumulative take, domestically, of $151.7 million ($347.3 million globally). And rounding out the top 5, Immaculate , starring Sydney Sweeney , grossed $3.3 million for a domestic cume of $11.1 million ($16.6 million globally).

Want more movie news? Sign up for  Entertainment Weekly's  free newsletter  to get the latest trailers, celebrity interviews, film reviews, and more.

Related content:

• Godzilla x Kong: The New Empire director explains Kong’s journey and that surprise return
• Ghostbusters: Frozen Empire is chilling atop the weekend box office with $45M debut
• Dune: Part Two premiere features cyborg Zendaya, stumbling stars, and a guy vacuuming sand

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Columbus reports on his first voyage, 1493

A spotlight on a primary source by christopher columbus.

On August 3, 1492, Columbus set sail from Spain to find an all-water route to Asia. On October 12, more than two months later, Columbus landed on an island in the Bahamas that he called San Salvador; the natives called it Guanahani.

For nearly five months, Columbus explored the Caribbean, particularly the islands of Juana (Cuba) and Hispaniola (Santo Domingo), before returning to Spain. He left thirty-nine men to build a settlement called La Navidad in present-day Haiti. He also kidnapped several Native Americans (between ten and twenty-five) to take back to Spain—only eight survived. Columbus brought back small amounts of gold as well as native birds and plants to show the richness of the continent he believed to be Asia.

When Columbus arrived back in Spain on March 15, 1493, he immediately wrote a letter announcing his discoveries to King Ferdinand and Queen Isabella, who had helped finance his trip. The letter was written in Spanish and sent to Rome, where it was printed in Latin by Stephan Plannck. Plannck mistakenly left Queen Isabella’s name out of the pamphlet’s introduction but quickly realized his error and reprinted the pamphlet a few days later. The copy shown here is the second, corrected edition of the pamphlet.

The Latin printing of this letter announced the existence of the American continent throughout Europe. “I discovered many islands inhabited by numerous people. I took possession of all of them for our most fortunate King by making public proclamation and unfurling his standard, no one making any resistance,” Columbus wrote.

In addition to announcing his momentous discovery, Columbus’s letter also provides observations of the native people’s culture and lack of weapons, noting that “they are destitute of arms, which are entirely unknown to them, and for which they are not adapted; not on account of any bodily deformity, for they are well made, but because they are timid and full of terror.” Writing that the natives are “fearful and timid . . . guileless and honest,” Columbus declares that the land could easily be conquered by Spain, and the natives “might become Christians and inclined to love our King and Queen and Princes and all the people of Spain.”

An English translation of this document is available.

I have determined to write you this letter to inform you of everything that has been done and discovered in this voyage of mine.

On the thirty-third day after leaving Cadiz I came into the Indian Sea, where I discovered many islands inhabited by numerous people. I took possession of all of them for our most fortunate King by making public proclamation and unfurling his standard, no one making any resistance. The island called Juana, as well as the others in its neighborhood, is exceedingly fertile. It has numerous harbors on all sides, very safe and wide, above comparison with any I have ever seen. Through it flow many very broad and health-giving rivers; and there are in it numerous very lofty mountains. All these island are very beautiful, and of quite different shapes; easy to be traversed, and full of the greatest variety of trees reaching to the stars. . . .

In the island, which I have said before was called Hispana , there are very lofty and beautiful mountains, great farms, groves and fields, most fertile both for cultivation and for pasturage, and well adapted for constructing buildings. The convenience of the harbors in this island, and the excellence of the rivers, in volume and salubrity, surpass human belief, unless on should see them. In it the trees, pasture-lands and fruits different much from those of Juana. Besides, this Hispana abounds in various kinds of species, gold and metals. The inhabitants . . . are all, as I said before, unprovided with any sort of iron, and they are destitute of arms, which are entirely unknown to them, and for which they are not adapted; not on account of any bodily deformity, for they are well made, but because they are timid and full of terror. . . . But when they see that they are safe, and all fear is banished, they are very guileless and honest, and very liberal of all they have. No one refuses the asker anything that he possesses; on the contrary they themselves invite us to ask for it. They manifest the greatest affection towards all of us, exchanging valuable things for trifles, content with the very least thing or nothing at all. . . . I gave them many beautiful and pleasing things, which I had brought with me, for no return whatever, in order to win their affection, and that they might become Christians and inclined to love our King and Queen and Princes and all the people of Spain; and that they might be eager to search for and gather and give to us what they abound in and we greatly need.

Questions for Discussion

Read the document introduction and transcript in order to answer these questions.

• Columbus described the Natives he first encountered as “timid and full of fear.” Why did he then capture some Natives and bring them aboard his ships?
• Imagine the thoughts of the Europeans as they first saw land in the “New World.” What do you think would have been their most immediate impression? Explain your answer.
• Which of the items Columbus described would have been of most interest to King Ferdinand and Queen Isabella? Why?
• Why did Columbus describe the islands and their inhabitants in great detail?
• It is said that this voyage opened the period of the “Columbian Exchange.” Why do you think that term has been attached to this period of time?

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• Mufasa songs
• Simba songs
• The Lion King: Special Edition

The Morning Report

• View history

" The Morning Report " is a song composed by Elton John for The Lion King . It was released on September 30, 2003, as part of the Special Edition version of the film.

• 1 Background
• 3 Behind the scenes

Background [ ]

"The Morning Report" was first released in 1997 as part of the stage musical version of The Lion King . The musical number was added to the Special Edition version of the film with slight alterations. However, when the film was re-released in theaters in 3D, the song wasn't shown, nor was it included in the Diamond Edition released in 2011. However, it was included in the Diamond Edition as a bonus feature.

Zazu: (spoken) Good morning, sire! Mufasa: (spoken) Good morning, Zazu. Zazu: (spoken) Checking in with the morning report. Mufasa: (spoken) Fire away! Zazu: Chimps are going ape, giraffes remain above it all Elephants remember, though just what I can't recall Crocodiles are snapping up fresh offers from the banks Showed interest in my nest egg but I quickly said, "No thanks!" We haven't paid the hornbills and the vultures have a hunch Not everyone invited will be coming back from lunch This is the morning report Gives you the long and the short Every grunt, roar, and snort Not a tale I distort On the morning report Mufasa: (spoken) What are you doing, son? Simba: (spoken) Pouncing. Mufasa: (spoken) Let an old pro show you how it's done... Zazu: Oh, the buffalo have got a beef about this season's grass Warthogs have been thwarted in attempts to save their gas Flamingos in the pink are chasing secretary birds Saffron is this season's color seen in all the herds Moving down the rank and file to near the bottom rung Far too many beetles... Mufasa: (in the background/spoken) Stay low to the ground. Simba: (in the background/spoken) Yeah, okay, stay low to the ground, right. Mufasa: (in the background/spoken) Shh! Not a sound... Take it slow. One more step. Then pounce! Zazu: ...Are quite frankly in the dung. Simba: This is the morning report Gives you the long and the short Every grunt, roar, and snort Not a tale I distort On the morning report

Behind the scenes [ ]

• Simba's singing voice is provided by Evan Saucedo due to his original singing voice actor, Jason Weaver , being too old to reprise his role.
• Zazu's singing voice is provided by Jeff Bennett rather than his original voice actor, Rowan Atkinson .
• Although James Earl Jones is credited in the song, he does not actually sing.

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King Charles May Attend Trooping the Colour amid Cancer Treatment with Modification to His Arrival: Report

The monarch, 75, is determined to attend his birthday parade in June, according to a new report

Janine Henni is a Royals Staff Writer for PEOPLE Digital, covering modern monarchies and the world's most famous families. Like Queen Elizabeth, she loves horses and a great tiara moment.

Chris Jackson/Getty 

King Charles is intent on attending Trooping the Colour amid his cancer treatment — and could make it happen with a twist on tradition, according to a new report.

The King, 75, is "determined to attend" his birthday parade in London on June 15 and could travel by carriage from Buckingham Palace instead of riding on horseback as he did last year, overseeing the festivities from a podium, the Daily Mail reported on Sunday.

"There are a number of key events His Majesty would love to attend coming up in the diary and this is at the top of the list," a source told the outlet.

Buckingham Palace previously told PEOPLE that all options are being explored as planning for the event continues.

Queen Elizabeth last appeared on horseback at Trooping the Colour in 1986 and opted for a carriage in the years that followed. The grand military procession has held an official spot on the royal calendar since 1760 and typically occurs in June, marking the official birthday for the reigning King or Queen, irrespective of their actual birth date (King Charles' birthday falls in November).

Victoria Jones - Pool/Getty 

Trooping the Colour was especially meaningful for King Charles last year as it was the first of his royal reign. In June 2023, the sovereign saddled up on a black mare named Noble for his ceremonial role as Colonel in Chief of the seven regiments of the Household Division of the British Army. It marked the first time in 37 years that a British monarch decided to ride, as Queen Elizabeth started taking a carriage at Trooping after she turned 60.

Uncertainty lingers regarding the specifics of the plans, influenced by the King's health. Buckingham Palace revealed on Feb. 5 that King Charles received a cancer diagnosis shortly after he was treated for an enlarged prostate , clarifying that it is not prostate cancer. The palace stated that the King had begun treatment and was advised to postpone public appearances. However, he has continued to work behind the scenes and host in-person meetings with various officials.

A source close to the royal household previously told PEOPLE that the King is " coping well " amid his treatment. He was most recently photographed meeting with the Baroness Scotland of Asthal, the Commonwealth Secretary-General, last week.

YUI MOK/POOL/AFP via Getty Images

It also remains unclear whether Kate Middleton will attend Trooping the Color in June amid her recovery following her abdominal surgery in January. On March 6, the British Army was forced to backtrack and removed Princess Kate’s name from its website after it listed her as leading the annual review of soldiers at Horse Guards Parade in London on June 8, the precursor to Trooping the Colour.

Though it raised hopes that the Princess of Wales, 42, would be undertaking the public duty as honorary Colonel of the Irish Guards , her office at Kensington Palace said they hadn't been consulted about the appearance. Her name was pulled from the page, which was selling tickets to the event, one day later.

Neil Mockford/Getty

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King Charles and his daughter-in-law were both front and center at Trooping the Colour last year, and the festivities began when the monarch departed Buckingham Palace and rode nearly mile down The Mall to Horse Guards Parade at St. James’ Park. There, he was greeted by a royal salute and inspected military members. Around 1,500 soldiers, 300 horses and 400 musicians came together for the first Trooping the Colour organized in ths King’s honor.

At Horse Guard’s Parade, King Charles, Queen Camilla and other members of the royal family watched the 1st Battalion Welsh Guards "troop their colour,” or present their flag. Soon after, Charles led the charge back to Buckingham Palace and was at the front of the royal family as they stepped onto the Buckingham Palace balcony to see the Royal Air Force perform a colorful flypast overhead. 

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Sam Bankman-Fried Sentenced to 25 Years in Prison

Mr. Bankman-Fried, who was convicted of stealing $8 billion from customers of his FTX cryptocurrency exchange, faced a maximum sentence of 110 years.

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By David Yaffe-Bellany and J. Edward Moreno

David Yaffe-Bellany and J. Edward Moreno have covered the collapse of FTX extensively.

Sam Bankman-Fried, the founder of the FTX cryptocurrency exchange who was convicted of stealing billions of dollars from customers , was sentenced to 25 years in prison on Thursday, capping an extraordinary saga that upended the crypto industry and became a cautionary tale of greed and hubris.

Mr. Bankman-Fried’s sentence was shorter than the 40 to 50 years that federal prosecutors had sought after a jury found him guilty of fraud, conspiracy and money laundering — charges that carried a maximum penalty of 110 years behind bars. But the punishment was far above the six and a half years requested by his defense lawyers.

Mr. Bankman-Fried, 32, did not visibly react as Judge Lewis A. Kaplan handed down the sentence in Federal District Court in Manhattan. His parents, the law professors Joe Bankman and Barbara Fried, sat two rows from the front, staring at the floor.

“He knew it was wrong. He knew it was criminal,” Judge Kaplan said of Mr. Bankman-Fried’s actions.

Before the sentence was delivered, Mr. Bankman-Fried, cleanshaven and wearing a loosefitting brown jail uniform, apologized to FTX’s customers, investors and employees.

“A lot of people feel really let down, and they were very let down,” he said. “I’m sorry about that. I’m sorry about what happened at every stage.” He added that his decisions “haunt” him every day.

Mr. Bankman-Fried was also ordered to forfeit about $11 billion in assets.

At the sentencing, Judge Kaplan pointed to testimony from Mr. Bankman-Fried’s trial that showed the FTX founder’s extreme appetite for risk, saying it was his “nature” to make colossally dangerous bets. “There is a risk that this man will be in a position to do something very bad in the future,” he said.

Judge Kaplan also said Mr. Bankman-Fried had lied on the witness stand and failed to take responsibility for his crimes. “He regrets that he made a very bad bet about the likelihood of getting caught,” he said. “But he’s not going to admit a thing.”

Mr. Bankman-Fried, currently housed at the Metropolitan Detention Center in Brooklyn, will be sent to a low- or medium-security prison, the judge said, very likely near his parents’ home in the San Francisco Bay Area.

The sentencing signified the finale of a sweeping fraud case that exposed the rampant volatility and risk-taking across the loosely regulated world of cryptocurrencies. In November 2022, FTX imploded virtually overnight, erasing $8 billion in customer savings. At a trial last fall, he was convicted of seven counts of fraud, conspiracy and money laundering.

His sentence ranks as one of the longest imposed on a white-collar defendant in recent years. Bernie Madoff , who orchestrated a notorious Ponzi scheme that unraveled during the 2008 financial crisis, received a 150-year sentence in 2009. He was in his 70s and died 12 years later. Elizabeth Holmes , who was convicted of defrauding investors in her blood-testing start-up, Theranos, was sentenced to 11 years and three months in 2022.

A representative for Mr. Bankman-Fried declined to comment. In a statement, his parents said, “We are heartbroken and will continue to fight for our son.”

Ira Lee Sorkin, the defense lawyer who represented Mr. Madoff, said he was not surprised Mr. Bankman-Fried got a stiff sentence, albeit a shorter one than his own client.

“He is 32 years old, and he will see the light of day,” he said of Mr. Bankman-Fried. “But he is going to spend a lot of time in a cell.”

Just 18 months ago, Mr. Bankman-Fried was a corporate titan and one of the youngest billionaires on the planet. With his face plastered on billboards and magazine covers, he could raise money seemingly at will. He hobnobbed with actors, musicians and superstar athletes, cultivating an image as a nerdy do-gooder who intended to donate all his wealth to charity.

Based in the Bahamas, FTX was one of the largest marketplaces for cryptocurrencies — an easy-to-use platform where investors could exchange dollars or euros for digital coins like Bitcoin and Ether. Its valuation was north of $30 billion.

But over less than a week in November 2022, a run on deposits exposed an $8 billion hole in FTX’s accounts. Mr. Bankman-Fried resigned, handing over power to a team of lawyers who promptly filed for bankruptcy. The next month, he was arrested at his luxury apartment in the Bahamas and charged with stealing from customers to finance billions in political contributions, charitable donations and investments in other start-ups.

The investigation moved with startling speed for such a complex case. Within months, three of Mr. Bankman-Fried’s top deputies, including a former girlfriend, pleaded guilty to fraud charges and agreed to cooperate with prosecutors. Mr. Bankman-Fried was initially granted home detention, but the judge revoked his bail in August after ruling that he had tried to intimidate witnesses, and sent him to the Brooklyn detention center.

At the trial in October, Mr. Bankman-Fried’s former colleagues testified for the prosecution, telling a jury that they had conspired with him to loot customer accounts. When he took the witness stand, Mr. Bankman-Fried seemed evasive at times, repeatedly claiming that he couldn’t remember crucial details of his FTX tenure.

“When he wasn’t outright lying, he was often evasive, hairsplitting, dodging questions,” Judge Kaplan said on Thursday. “I’ve never seen a performance quite like that.”

After he was convicted, Mr. Bankman-Fried’s lawyers and family embarked on a long-shot campaign to secure a lenient sentence and rewrite the public narrative about FTX’s failure. In a sentencing memo, Marc Mukasey, one of the defense lawyers, argued that Mr. Bankman-Fried had sometimes behaved strangely on the stand because he was autistic. He also cited the mogul’s charitable initiatives, arguing that FTX was supposed to be a force for good in the world.

But the defense’s case centered on the money that FTX users lost when the exchange went under. Since FTX’s bankruptcy, its new leaders have cobbled together billions of dollars to return to customers, partly by liquidating stashes of digital coins and selling Mr. Bankman-Fried’s stakes in other companies. Mr. Mukasey claimed those customers would eventually be made whole through the bankruptcy process, putting the losses caused by Mr. Bankman-Fried’s actions at “zero.”

The prosecutors rejected that argument. While FTX’s new leadership has predicted that customers will eventually get their deposits back, the money they receive will be equivalent to the dollar value of their holdings in November 2022 — and won’t account for a recent surge in the crypto markets that sent Bitcoin to its highest-ever price .

Mr. Bankman-Fried “demonstrated a brazen disrespect for the rule of law,” prosecutors wrote in a sentencing memo. “He knew what society deemed illegal and unethical, but disregarded that based on a pernicious megalomania.”

On Thursday, Judge Kaplan said of FTX’s victims: “The defendant’s assurance that they will be paid in full is misleading. It is logically flawed. It is speculative.”

Over the past several weeks, the prosecutors filed hundreds of letters from FTX customers that laid out how the financial losses had devastated their lives. One customer said the collapse had led to “suicidal thoughts.”

“Sam Bankman-Fried has to think for the rest of his life of the multitude of lives he destroyed with his selfishness and superficiality,” the customer wrote. “I really hope that justice will teach him the difference between life and video games.”

Another FTX user, Sunil Kavuri, who lost $2 million when the company collapsed, testified at the hearing that the implosion had wiped out money he planned to spend on a house and his children’s education.

“I’ve lived the FTX nightmare for almost two years,” he said.

When Mr. Bankman-Fried spoke, he offered a sometimes-rambling assortment of thoughts, apologizing for his mistakes while insisting that FTX had enough assets to make customers whole.

“I made a series of bad decisions,” he said, his leg shaking. “They weren’t selfish decisions. They weren’t selfless decisions. They were bad decisions.”

Mr. Bankman-Fried has vowed to appeal his conviction, hiring a lawyer from the law firm Shapiro Arato Bach to oversee that effort. But in his remarks, he appeared to accept that he would be in prison for some time.

“At the end of the day, my useful life is probably over now,” he said.

Matthew Goldstein contributed reporting.

David Yaffe-Bellany writes about the crypto industry from San Francisco. He can be reached at [email protected]. More about David Yaffe-Bellany

J. Edward Moreno is a business reporter at The Times. More about J. Edward Moreno

Dorchester man arrested following alleged robbery at knifepoint at Roxbury park

A 32-year-old Dorchester man was arrested after a person was allegedly robbed at knifepoint at Malcolm X Park in Roxbury over the weekend, Boston police said Sunday.

Shawn Marsh is charged with armed robbery and carrying a dangerous weapon , specifically brass knuckles, Boston police said in a statement. He is scheduled to be arraigned in the Roxbury division of Boston Municipal Court. It was unclear Sunday whether Marsh had hired an attorney to represent him.

Officers responded to a report of a man with a knife near 150 Martin Luther King Jr. Blvd., the address of the park, at about 11:49 a.m. Saturday, police said. Officers were told the man “randomly became aggressive” toward a victim, pulling out a knife and pointing it at him, according to the statement.

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The man with the knife, later identified as Marsh, then allegedly stole an item from the victim and ran off, police said.

About an hour and 20 minutes after the first call, police received a second report of a person with a knife near the park, according the statement.

Detectives gave the officers a description of the man sought earlier, police said. When the officers arrived at the park, they saw Marsh, who allegedly matched the description provided by detectives, and the officers immediately placed him into handcuffs, according to the statement.

Officers searched Marsh and found “a knife with brass knuckles,” police said.

Marsh was then placed under arrest, police said.

Adam Sennott can be reached at [email protected] .

The King reports: King I, II, II and IV in brief

21 jun 2021 2:40 pm | kamla rampersad - de silva (administrator).

Long before the western world adopted ESG as a buzzword in corporate Governance, Professor Mervyn King and his counterparts in South Africa had embraced and develop principles and frameworks for embracing practices that went beyond the financial bottom line.

The King I report, produced in 1994, a mere two years after the publication of the seminal work by Sir Adrian Cadbury and his team in 1992, highlighted effective and ethical leadership, sustainability in terms of economic, social and environmental performance; and good corporate citizenship as the key elements which should guide directors in fulfilling their oversight role. Like other Codes of Corporate Governance, the King Reports are not mandatory by law, but are principles which are adopted by the Johannesburg Stock Exchange for all companies on an ‘apply and explain’ basis.

The first Code was produced for South Africa at a historic point in the country’s development as it was transitioning out of the apartheid system. Prof King, Senior Council and retired Judge of South Africa’s Supreme Court was asked to lead this task, and so his leadership saw his team develop a Code which has since seen three revisions deemed King II, King III and King IV.

The Institute of Directors for South Africa described the key principles from the first King report as having covered: Board of directors makeup and mandate, including the role of non-executive directors and guidance on the categories of people who should make up the non-executive directors. It also addressed appointments to the board and guidance on the maximum term for executive directors; and a determination and disclosure of executive and non-executive director’s remuneration. King I also spoke to: Board meeting frequency, Balanced annual reporting, The requirement for effective auditing, Affirmative action programs and the company’s code of ethics.

The revision in 2002 produced King II which embraced several key principles including Directors and their responsibility; Risk management; Internal audit and continued to have a focus on Integrated sustainability reporting, and Accounting and auditing (Institute of Directors for South Africa 2012). The focus on integrated sustainability reporting was highlighted in a separate chapter which led to companies providing a separate section in their report to address this issue.

Looking back at the Second version of the Code, Prof Mervyn King told the authors of The A to Z of Corporate Social Responsibility that, in hindsight, the King II report should not have included sustainability as a separate chapter as it seemed to have sent the wrong message to companies. And so, in the third version of the Code, King III published in 2009, the report ensures that it integrated governance, strategy and sustainability to be included in companies’ Annual Reports.

The King III report also embraced emerging global governance trends such as: Alternative dispute resolution; Risk-based internal audit; Shareholder approval of non-executive directors’ remuneration; and Evaluation of board and directors’ performance.

Foresight can also be found in the King III report, which long before the pandemic and the focus on business continuity, the King Committee had incorporated a number of new principles relating to: IT governance; Business Rescue; and also, the Fundamental and affected transactions in terms of director’s responsibilities during mergers, acquisitions and amalgamations.

King IV, published in 2016 was the result of the request of a variety of organisations for the King Code to be applicable directly to their organisation irrespective of whether it was a private company, a listed public company or a not-for-profit organisation.

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Members’ Testimonies

Don’t take our word for it. Here are a very small sample of subscribers’ quotes and experiences pertaining to the King Report.

I just wanted to say your report is something special. Never have I read such a stimulating report packed with so much insider Wall Street knowledge that is so lucid and honest. You have taught me, an honest money advocate, and investor of 20 years more in one year than all my (now) less knowledgeable brokers. I know more than them , and you guys helped. And now that we continue having great profitable months, rest assured we use our profits to save, invest, give to charity and church, and stay out of debt, and put honest free market people in office (ok —we need more of those on the ticket!). Best Regards and God Bless You all at King! JH

After 7 years with NT in Santa Barbara, I’ve left to join the local office of Manchester Capital Management. After a week here, I find that I can’t live without the King Report. Your work is without equal. VG

You’re a prince! I love your stuff, esp. in these troubled times. SS

…I just love receiving your daily report…It’s the very first thing I read every morning when I open my email… MB

One of your subcribers sent me your report for yesterday. I was flattered to see my article from the NYT Magazine quoted there. I wanted to let you know that I always enjoy your report when I see it. Best wishes, NF

Bill, I’m still getting your highly informative King Report, and thank you so much for it; it sure is useful for keeping track of what’s truly going on. JN

I am sorry that I was not able to make lunch today, but I did want to give you some thoughts on your strategy of staying short. I have learned a lot from watching you analyze the markets over the past year. Not to put too fine a point on it, but it has worked – not just in terms of total return, which I know is how you approach the markets, but from an institutional standpoint as well… VB

Bill: I run [deleted] and someone sent me a copy of your King Report from today. The first page and a half contain the best analysis of the danger from derivatives I have ever seen. May I repost it? If so, let me know what you would like me to say about the King Report and your firm at the bottom, I want you to pick up some more customers. Bob M

Hi Bill, As a new subscriber to your newsletter, we are so delighted with it that we are already signing up a second employee to the service after two short weeks!

Hey, Bill: Your paid subscribers are getting plenty of value. My great idea was only to save the world … entirely at your expense! I’d like to drop tens of thousands of copies of your letter every night from a B-52 over New York and Washington, along with some heavier stuff. CP

We haven’t spoken in a while. I just had to let you know—–this missive made me laugh out loud in a good way. You’ve been right on the money for the past year—your e-mails have been a source of comfort to be, because I have been very short credit and subprime for over a year (and getting loads of crap about it). Well–it has worked, and now all is well. Just wanted to let you know you’re the man. BE, Investment official of money center bank

We are mailing you a check today so we will not be without your INVALUABLE service for one day! Thanks for your amazing work! AK, president of money management firm

Le Metropole Members, This guy Bill King is as as good at it gets. For your reading pleasure… BM

Bill….the reports you have sent (and I have read) since “stumbling” across your publication in the Airport lounge in Heathrow, have blown me away….it’s Financial Times on steroids (I hope the comparison doesn’t offend). I have always spent a lot of time researching material trying to decipher – through the clutter of the CNBC’s and WSJ’s – just exactly what the hell IS going on. I have since researched your firms letter on the internet, and there are the usual “bear, and doom” comments…yet reality is, your King Report captures and condenses reality in print, and offers an incredible amount of perspective from. Sources that I would never have the time nor ability to access. LN

on it. thx again. u make me smarter…and more scared 🙂 BE

Bill rocks like nobody else out there i stopped reading all the other news analysis crap I get

GM, renowned money manager

I had my coffee and read all the “reports” at 4.30a.m.  Then I was able to appropriately, begin my day.  They were interesting as always and helpful to my decision making related to Village/Stadium finances.

Mayor of Chicago suburb

A good friend highly recommended your newsletter. Can you please add me to your mailing list? (I asked ‘whot might that be?)

TG. He was a prop trader at GS when we both worked at GS and his prop group read you religiously. He has left GS and is working for a hedge fund now.

BC, former Goldman Sachs proprietary trader

I was just laid off after 12 years at Goldman Sachs.  Your morning note has been an integral part of my day for years.  If possible it would be fantastic to continue receiving it while I find a new position.  Thank you for your invaluable insights over the years.

Mr. King, I’ve been a subscriber of your newsletter for a few months now and started receiving it in early August, and I find it very insightful with a lot of information content I would never come across without it.  To say the least, it has helped my performance over the last few months, as I manage a Large Core MF, and 2 SMA strategies all totaling roughly $250M.

I’ve been reading your comments over the last few weeks on what will happen early next year when people realize the true severity of the economic malaise, and how other people are predicting dire outcomes for the U.S.  However, my question to you is, what do you feel is the ultimate outcome from an economic/financial standpoint (i.e. job losses, inflation, GDP, etc…) and where you think the market (S&P500) is ultimately headed before this is all over?. I know that’s a loaded question, but please provide as much insight as you can. Thanks, JS, investment officer

Bill, Your daily commentary has been invaluable. Thank you. John H., president of money management firm

My mentor when i began and worked with early in my career at opco and odyssey partners, Michael Metz, always felt that your letter was in the top three on wall street. You know what, mike is correct about your daily’s and its an honor to read . Thanks for your hard work. BB, former MLB player and Senior Managing Director at bulge bracket firm

In my opinion, Bill King is the best daily out there, and the most complete and powerful collage of events relevant to our case. TR, professional money manager and hedge fund operator

Your honest and “Independent View of the News” has saved anybody who would listen, most of their life savings… Thank you Best regards, DM, an individual investor

Bill: And thanks for your morning missives.  They are informative, eye-opening, and entertaining. from a Fortune 500 CEO

I can’t thank you enough for all of your hard work. Z, a consultant to major hedge funds

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King IV - Steering point

A summary of the King IV Report on Corporate Governance™ for South Africa, 2016

If one was asked to summarise King IV™ in one word, ‘transparency’ would come to mind. King IV™ builds on its predecessors’ positioning of sound corporate governance as an essential element of good corporate citizenship. Good corporate governance requires an acknowledgement that an organisation doesn’t operate in a vacuum, but is an integral part of society and therefore has accountability towards current and future stakeholders. With the introduction of an ‘apply and explain’ regime, King IV™ asks organisations to be transparent in the application of their corporate governance practices.

King IV™ reinforces the notion that good corporate governance is a holistic and interrelated set of arrangements to be understood and implemented in an integrated manner – good governance is not a tick-box or compliance exercise. King IV™ asks for mindful application of the King IV Code™ and for its recommended practices to be interpreted and applied in a way that is appropriate for the organisation and the sector in which it operates. Mindful application harnesses the benefits of corporate governance in the interests of the organisation.

"The overarching objective of King IV™ is to make corporate governance more accessible and relevant to a wider range of organisations, and to be the catalyst for a shift from a compliance-based mindset to one that sees corporate governance as a lever for value creation” Prof Mervyn King

King IV™ in a nutshell

• A set of voluntary principles and leading practices.
• Drafted to apply to all organisations, regardless of their form of incorporation. Sector supplements explain how the King IV Code™ should be applied by certain organisations/sectors.
• Proportionality is explained and advocated.
• King IV™ focuses on outcomes. The King IV Code’s™ principles and practices are linked to desired outcomes, therefore articulating the benefits of good corporate governance.
• The Code™ differentiates between principles and practices. Principles are achieved by mindful consideration and application of the recommended practices.
• 'Apply and explain’ regime (as opposed to ‘apply or explain’ regime in King III).
• New ‘look and feel’ to the King IV Report™ and King IV Code™.
• Philosophical underpinnings in King III retained but refined in King IV™.
• ‘Corporate governance’, for purposes of King IV™, has now been defined.

Key new or enhanced features of King IV™ relate to:

• Fair, responsible and transparent organisation wide remuneration;
• Responsible and transparent tax strategy and policy;
• Balanced composition of governing bodies and independence of members of the governing body;
• Delegation to management;
• Delegation to committees;
• Corporate governance services to the governing body;
• Performance evaluations of the governing body;
• Audit committee disclosures;
• Risk governance;
• The combined assurance model;
• Social and ethics committees;
• Performance evaluations;
• Responsible institutional investors; and
• Technology and information.

Click here to download King IV

With the introduction of an ‘apply and explain’ regime, King IV™ asks organisations to be transparent in the application of their corporate governance practices.

Previous editions:

• King III - a higher education perspective

Steering point - Governing structures and delegation

A comparison between king iv™ and king iii.

Considering that most of the King III principles have been retained in King IV™, albeit as recommended practices rather than as principles, one could easily assume that the content of King III has remained largely unchanged in King IV™. A comparison of the detail, however, crystallises the nuances between the two codes.

In this publication we compare the recommendations of King IV™ that are focused on governing structures and delegation, which are primarily contained in Part 5.3 of the King IV Code™, to the related recommendations of King III.

Click here to download Governing structures and delegation - A comparison between King IV™ and King III

In this Steering point publication we compare the recommendations of the King IV Code™ with those of King III

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Here's who could be responsible for paying for the Baltimore bridge disaster

• The Francis Scott Key Bridge in Baltimore collapsed after a container ship collided with it.
• Several entities could be on the hook to foot the bill in the aftermath of the disaster.
• The maritime insurance industry will likely be saddled with the highest costs. 

The Francis Scott Key Bridge in Baltimore collapsed on Tuesday after a large container ship ran into it, leading to six presumed deaths and millions of dollars in possible damage.

It's still too early to estimate the total economic impact of the disaster, but between the cost of rebuilding the decades-old bridge, compensating the victims' families , and paying out damages for disruptions to the supply chain, the eventual cost of the disaster is expected to be significant.

Who will pay to rebuild the bridge?

President Joe Biden said on Tuesday the federal government should be responsible for paying to reconstruct the damaged Francis Scott Key Bridge.

"It is my intention that the federal government will pay for the entire cost of reconstructing that bridge, and I expect Congress to support my effort," Biden said.

The bridge was built in the 1970s for about $60 million, but the cost of rebuilding it could be 10 times its original price tag, an engineering expert told Sky News. 

Baltimore is among the busiest ports in the nation , with more than a million shipping containers passing through each year. The collapse — which closed the port to all maritime and most road traffic until further notice — is already beginning to wreak havoc on the supply chain.

The cost of building the bridge back fast enough to offset diversions as much as possible could saddle the government with a more than $600 million bill, David MacKenzie, the chair of the engineering and architecture consultancy COWIfonden, told Sky News.

Who will pay for damages to the ship and its cargo?

The container ship, the Dali , is owned by a Singapore-based firm. The ship's charterer, Maersk, confirmed to Business Insider that vessel company Synergy Group operates the ship. 

However, the companies with cargo aboard the Dali could ultimately be responsible for some of the ship's damages and cargo costs, according to Ryan Petersen , the CEO of the supply-chain-logistics company Flexport, which had two containers on the ship.

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The Dali was carrying 330 containers that must now be rerouted, Petersen said in an X thread.

An ancient maritime law known as " general average " dictates that companies with even a single container aboard a ship split certain damages pro rata based on the number of containers they had on board, ensuring all the stakeholders benefiting from the voyage are splitting the risk, Petersen said.

General average situations can occur when a ship is stranded or when cargo is damaged or thrown overboard to save the vessel, according to Flexport . The concept helps ensure that all parties who have a vested interest in the vessel share the cost and concern of protecting it.

It's too soon to know whether damages incurred to free the Dali in the coming days will qualify as a case of general average.

Who will pay for everything else?

The majority of the financial fallout is likely to lay primarily with the insurance industry, according to media reports.

Industry experts told the Financial Times that insurers could pay out losses for bridge damage, port disruption, and any loss of life.

The collapse could drive "one of the largest claims ever to hit the marine (re)insurance market," John Miklus, the president of the American Institute of Marine Underwriters, told Insurance Business.

He told the outlet that the loss of revenue from tolls while the bridge is being rebuilt will be expensive, as will any liability claims from deaths or injuries.

The Dali is covered by the Britannia Steam Ship Insurance Association Ltd., known as Britannia P&I Club, according to S&P Global Market Intelligence.

In a statement to Business Insider, Britannia said it was "working closely with the ship manager and relevant authorities to establish the facts and to help ensure that this situation is dealt with quickly and professionally."

Britannia is one of 12 mutual insurers included in the International Group of P&I Clubs, which maintains more than $3 billion of reinsurance cover, sources familiar with the matter told Insurance Business.

Britannia itself is liable for the first $10 million in damages, both FT and Insurance Business reported. Whatever remains is dealt with by the wider mutual insurance group and Lloyd's of London, a reinsurance market in the UK, the FT reported.

Update: March 28, 2024 — This story has been updated to include additional information about general average and clarify that it is too soon to know whether general average will apply in the case of the Dali.

Watch: The container ship that destroyed the Francis Scott Key Bridge has crashed before

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World News | King Charles shakes hands, chats with crowd at…

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World News | King Charles shakes hands, chats with crowd at most significant public outing since cancer diagnosis

Britain’s King Charles III, center, and Queen Camilla arrive to attend the Easter Matins Service at St. George’s Chapel, Windsor Castle, England, Sunday, March 31, 2024. (Hollie Adams/Pool Photo via AP)

Britain’s King Charles III, left, and Queen Camilla arrive to attend the Easter Matins Service at St. George’s Chapel, Windsor Castle, England, Sunday, March 31, 2024. (Hollie Adams/Pool Photo via AP)

LONDON — King Charles III shook hands and chatted with onlookers after attending an Easter service at Windsor Castle on Sunday in his most significant public outing since being diagnosed with cancer last month.

The king, dressed in a dark overcoat and shiny blue tie, smiled as he made his way along a rope line outside St. George’s Chapel for about five minutes, reaching into the crowd to greet supporters who waved get-well cards and snapped photos on a chilly early spring day. “You’re very brave to stand out here in the cold,” Charles told them.

“Keep going strong,” one member of the crowd shouted as Charles and Queen Camilla walked by.

The 75-year-old monarch’s appearance was seen as an effort to reassure the public after Charles stepped back from public duties in early February following an announcement by Buckingham Palace that he was undergoing treatment for an unspecified type of cancer.

The king has continued fulfilling his state duties, such as reviewing government papers and meeting with the prime minister. But his attendance at a traditional royal event like the Easter service is seen as a sign that he is beginning a managed return to public life. British media reported last week that Charles would slowly increase his public appearances after Easter.

The service itself was smaller than usual as Kate, the Princess of Wales, is also being treated for cancer and has paused public duties. The princess, her husband Prince William, and their children did not attend.

Kate’s shock announcement that she, too, had cancer was made on March 22, after weeks of speculation about her health and whereabouts following major abdominal surgery in February.

Charles’ enforced absence from public life has been a setback for a man who is eager to put his stamp on the monarchy after waiting almost 74 years — longer than any previous heir — to become king.

When he succeeded his mother, Queen Elizabeth II, Charles faced the daunting task of demonstrating that the 1,000-year-old monarchy remains relevant in a modern nation whose citizens come from all corners of the globe. After less than two years on the throne, the king is still defining himself with the public as he tries to persuade young people and members of minority communities that the royal family can represent them.

“He knows that being seen by the public and having public goodwill is really what’s at the core of a successful monarchy,” royal commentator Jennie Bond told the BBC. ”He needs to have that interaction and I think he quite enjoys it, actually.”

Some members of the public seemed reassured. Anne Daley, 65, from Cardiff, Wales, held up a Welsh flag to the former Prince of Wales.

“Did you see the smile (Charles) gave me? He pointed at my flag,” she said. “He had a lovely smile. He looked well. I think he was happy that we’ve all come.”

Although the duties of a constitutional monarch are largely ceremonial, the job of being a royal can be exhausting.

Besides the occasional procession in full royal regalia, there are meetings with political leaders, dedication ceremonies and events honoring the accomplishments of British citizens. That added up to 161 days of royal engagements during Charles’s first year on the throne.

The palace has worked hard to keep the king in the public eye — even as he sought to limit contacts to reduce his risk of infection while receiving treatment. Videos of the king reading get-well cards and an audience with Prime Minister Rishi Sunak were released. He also attended a session of the Privy Council, an assembly of senior advisers.

While he skipped a pre-Easter service on Thursday, Charles released a prerecorded audio message in which he expressed his regret at missing an occasion traditionally attended by the monarch.

The king also reaffirmed his coronation pledge “not to be served, but to serve.”

“That I have always tried to do and continue to do, with my whole heart,” he said.

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