- BusinessReuters
Silver Lake cashes out on AMC for $713 million after Reddit-fueled rally
Buyout firm Silver Lake disclosed on Friday that it sold its stake in AMC Entertainment Holdings for $713 million this week, capitalizing on a 10-fold rise in the price of the shares as traders organizing on social media platforms such as Reddit snapped them up. The trade puts Silver Lake and its co-investors in the black following a $600 million convertible bond investment that the private equity firm made in AMC in 2018. Such an outcome looked unlikely when AMC, the world's largest movie theater chain, was battling to stave off bankruptcy last summer, a move it avoided thanks to a debt restructuring deal with Silver Lake and its creditors.
- WorldThe Telegraph
Two gay men in Indonesia publicly caned 77 times each after vigilantes broke into their flat
Two men in Indonesia’s conservative Aceh province have been publicly lashed 77 times each after neighbourhood vigilantes burst into their apartment last November and reported them to Islamic religious police for allegedly having sex with each other. The caning is the third time people have been punished for practicing homosexuality since Aceh banned it under Shariah law in 2015. The consumption of alcohol, gambling, tight clothing for women, and extramarital sex have also been outlawed under Shariah ordinances. The men, aged 27 and 29, were whipped on Thursday with a rattan stick in front of dozens of people by a team of five enforcers wearing long brown robes and hoods. The pair reportedly winced as they were struck and the punishment was briefly halted to allow them to drink water. The mother of one man fainted at the scene. A Shariah court last month sentenced each man to 80 strokes, but they received 77 to compensate for time spent in prison. Morality offenses including gay sex can be punished by up to 100 lashes. On the same day, a woman and man were each given 20 lashes for being caught in close proximity to each other, and two men were given 40 lashes each for drinking alcohol.
- ScienceKCRA - Sacramento Videos
VideoSection of Highway 1 in Big Sur falls into the ocean
A section of Highway 1 in Big Sur has disappeared. One lane of the highway was struck by debris flow and washed away, Caltrans reported. The road continues to erode as debris and water continues to flow down off the Big Sur mountains. According to Big Sur Fire, the section of highway is located at Rat Creek, south of Esalen and north of Big Creek. Caltrans crews will be out at the damaged section of road Friday morning to fully assess the damage.