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AerCap, world’s largest aircraft owner, can now claim over $1 billion in insurance over jets stuck in Russia

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The world’s largest aircraft lessor AerCap can recover more than $1 billion in relation to jets stuck in Russia since the invasion of Ukraine, London’s High Court ruled Wednesday, though that is less than the roughly $2 billion it sought.

The court ruled broadly in favor of leasing companies in a multi-billion-dollar legal dispute with insurers, following a mammoth trial in one of the biggest insurance disputes ever heard in London, which concluded in February.

The lawsuit had focused on almost 150 jets and some engines, previously with a total value of up to $4.7 billion, though settlements – including on the first day of the trial in October – have whittled the numbers down.

Judge Christopher Butcher said in a summary of his ruling that the aircraft were lost and “that loss occurred on 10 March 2022, when a piece of Russian legislation banned the export of aircraft and aircraft equipment from Russia.”

That meant the lessors could recover the money lost from their “war risks insurers,” rather than under a broader all risks clause, as the cause of the loss was “an act or order of the Russian government”, Butcher said.

The judge also ruled that insurers were not prevented by European Union or US sanctions from indemnifying the claimants for the loss of aircraft that had been leased to Russian airlines.

AerCap’s law firm Herbert Smith Freehills Kramer said the judgment secured $1.035 billion for AerCap, “in addition to substantial recoveries achieved in prior settlements.”

Butcher said in his ruling that AerCap had received just over $1.3 billion from six settlements between August and December 2023 with lessees and a Russian insurance company.

AerCap, Dubai Aerospace Enterprise, Merx Aviation, KDAC Aviation Finance, Falcon and Genesis had led the claims against a string of insurers, including AIG (AIG), Lloyd’s, Chubb and Swiss Re.

KDAC settled all its claims during the trial, Butcher said in his ruling, while AerCap, DAE and other lessors have periodically disclosed partial settlements.



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Bezos-Sanchez wedding: Venice protesters claim victory in venue change

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Rome
CNN
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Protesters in Venice rallying against the impending nuptials of billionaire Amazon founder Jeff Bezos and journalist Lauren Sanchez have claimed victory after their threats of disruption reportedly prompted a change of wedding venues.

The group, No Space for Bezos, had called for a blockade on canals around the 14th-century Grande Scuola Misericordia in central Venice, which is thought to be where the couple wanted to hold a massive party on June 28, the day after exchanging vows.

It claims the party will now move to the less picturesque venue of a “tese,” or shipyard, in a renovated maritime area known as the Arsenale on the outer edge of Venice. This, it said, was victory over Venice Mayor Luigi Brugnaro’s condemnation of the protests.

“We won! The protest managed to ruin Bezos’ plans and Mayor Brugnaro’s palace games,” the group said in an online campaign post. “They were forced to flee and take refuge in Tese 91 of the Arsenale. Even Bezos’ two yachts, Koru and Abeona, will not arrive in Venice.”

Details remain a secret, but Bezos and Sanchez are expected to exchange vows on the island of San Giorgio Maggiore.

Few details of the Bezos and Sanchez wedding have been publicly confirmed, with dates, venues and guest lists remaining closely guarded secrets.

While some in Venice have voiced support for the upcoming wedding, opposition has intensified in recent days. No Space for Bezos also hung a banner with the Amazon owner’s name crossed out on the main bell tower on the secluded Island of San Giorgio Maggiore, where the couple are expected to be wed. Another banner was strung across the world-famous Rialto Bridge over the Grand Canal.

In a separate protest on Monday, environmental activists from Greenpeace unfurled a giant tarp with an image of a smiling Bezos below the words: “If you can rent Venice for your wedding you can pay more taxes.” Local police quickly removed the tarp, which measured approximately 400 square meters in size, according to the group.

The protests against Bezos are the latest of many to flare in Venice in recent years, with residents in the ancient lagoon city long railing against damage caused by gigantic cruise ships and the pressures of overtourism, which they say is destroying the quality of life for locals.

‘Love and responsibility’

Protesters claim their threats of disruption have resulted in a wedding party venue move to the Arsenale, an area of renovated shipyards on the outskirts of Venice.

It is thought the wedding will be a three-day affair beginning June 26 in Venice with a party likely on the Venice Lido where the city’s famous film festival is held. Locals and protesters then say the couple will exchange vows on the island of San Giorgio on June 27, and finish the destination wedding festivities with a party and concert on June 28. It is the final night’s venue that protesters say has been changed.

The No Space for Bezos protesters, who will not be able to reach the Arsenale venue, say they will now relocate their action to Venice’s Santa Lucia train station for Saturday afternoon to protest not only Bezos but also war.

“We have shown once again that Venice is not a servant of the powerful but continues to be rebellious and resistant,” the group posted on social media. “Now, faced with the war scenario that looms on the horizon, at a time when the eyes of the world are focused on Venice, we invite everyone to join the cry ‘no war.’”

Protests against the Bezos wedding have been intensifying in recent days.

On Monday evening, Luca Zaia, president of the surrounding Veneto region, announced a €1 million ($1.16 million) donation by Bezos and Sanchez to the Corila Consortium, an international scientific research group doing work on the Venice lagoon.

Zaia, who had previously called the protests against the wedding shameful, said the donation was a gesture of “love and responsibility” toward the city.

“The generous donation by Jeff Bezos and Lauren Sanchez represents an act of great sensitivity and foresight. Venice is not only a symbolic city of Veneto and Italy, it is a heritage of humanity that demands attention, respect and care,” he said.

“Knowing that world-renowned personalities choose not only to celebrate important moments in their lives here, but also to contribute concretely to its protection, is a strong sign of love and responsibility.”

CNN’s Sharon Braithwaite contributed to this story from London



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Jessie J shares ‘the good and hard bits’ of her breast cancer journey

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CNN
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Jessie J is pulling back the curtain on her fight to beat breast cancer.

The singer posted a series of photos and videos Monday on her verfied Instagram account, showing her undergoing treatment for the disease. She started the post off with a “blood warning.’

“This post is some of the honest lows and highs of the last 48 hours,” she wrote in the caption. “I will always show the good and hard bits of any journey I go through.”

The former coach on “The Voice UK” went on to thank her caregivers.

“Grateful to my doctor / surgeon and all the nurses who cared for me and all my family / friends who came to visit,” her posts reads. “🫂 I am home now, to rest and wait for my results 🤞🏻.”

She also joked about her romantic partner, former basketball player Chanan Safir Colman, being “in a nurse outfit” before writing, “No no, he isn’t, but funny to imagine.”

Colman is seen in some of the slides, along with their toddler son, Sky.

The British sonsgstress is also seen watching herself addressing a sold-out crowd at her June 16 concert at Wembley Stadium in the UK. It was her last before she underwent cancer surgery and treatment and she can be heard on the video telling the crowd “before I go and beat breast cancer.”

“As you are doing,” a voice believed to be Colman’s can be heard saying off camera.

The 37-year-old went public with her battle, shared on social media earlier this month that she had been diagnosed with “early breast cancer.”

“I’m highlighting the word ‘early,” she said in the video she wrote. “Cancer sucks in any form, but I’m holding on to the word ‘early.’”



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Winning design for Queen Elizabeth II memorial unveiled

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CNN
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Queen Elizabeth II’s official memorial in London’s St. James’ Park will feature a translucent bridge evoking the tiara she wore on her wedding day, as well as landscaped gardens and a statue of her husband Prince Philip.

The winning bid was submitted by architects Foster + Partners and fought off competition from four other shortlisted entries, the UK’s Cabinet Office announced on Tuesday.

With its two gates and two gardens joined by paths and a bridge, the design seeks to celebrate the ways in which the late Queen unified dualities in her life together, like “balancing tradition and modernity, public duty and private faith, the United Kingdom and a global Commonwealth,” the Cabinet Office said.

Foster + Partners’ proposal seeks to sit quietly within London’s oldest royal park, which borders three palaces – Westminster, St. James’ Palace and Buckingham Palace – in the heart of the British capital.

Its plan will remake the park with a “light touch,” much like the Queen who “encompassed… periods of significant change, socially and technologically… with a light touch,” the firm’s celebrated founder Norman Foster said in an interview with PA Media news agency.

A cast-glass balustrade along the bridge will echo the design of the Queen Mary Fringe diamond tiara Elizabeth wore at her wedding to Prince Philip. She later lent the tiara to her granddaughter Princess Beatrice for her wedding in 2020.

The bridge is one part of a design which also includes gardens, paths and statues.

Every effort will be taken to preserve the exisiting nature and biodiversity in the park, Foster added, with the bridge’s design avoiding the need for heavy building work or big excavations.

It will replace a pre-existing blue bridge and have a “very gentle presence at night, almost a kind of light lighting experience, and translucent and absolutely flat, hugging the surface of the lake so seamlessly.”

Construction of the memorial will be carried out in such a way that “the precious route across (St. James’ Park) will never be closed,” Foster added in a statement.

A statue of the late monarch will stand at the newly-named Queen Elizabeth II Place beside Marlborough Gate, an existing entrance to the park, while a statue of Philip will stand next to a new Prince Philip Gate on the other side of the park. A planned statue of the couple together will also feature in the memorial.

Meanwhile, a contemporary wind sculpture created by artist Yinka Shonibare will feature floral designs inspired by Elizabeth’s coronation gown, according to PA Media.

Gardens representing both the Commonwealth and the UK will “create spaces for reflection and coming together,” a statement released by Foster + Partners said.

The memorial will aim to create a “gentler, quieter, more contemplative” atmosphere, “and an opportunity to rediscover, or perhaps for some to discover, the legacy of Her Majesty,” Foster told PA Media.

Queen Elizabeth II and Prince Philip, Duke of Edinburgh wave at their wedding on November 20, 1947.

The finalized design, which is subject to change while it is refined, will be announced in April 2026 to coincide with the 100th anniversary of the late Queen’s birth.

The proposal was selected after a committee considered feedback from the public, stakeholders and cultural experts.

Other shortlisted designs included a lily pad-inspired walkway, a bronze oak tree and a pair of gently curved bridges.



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