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Herbert Smith Freehills to merge with US-based law firm Kramer Levin

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Herbert Smith Freehills to merge with US-based law firm Kramer Levin

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Herbert Smith Freehills will combine with US-based Kramer Levin to form one of the top-20 global law firms by headcount, in the latest sign of consolidation among mid-sized groups on either side of the Atlantic.

The new firm will be known as Herbert Smith Freehills Kramer, abbreviated as HSF Kramer in the US, and will have more than 2,700 lawyers across 25 offices in America, the UK, Europe and Asia, the groups announcement on Monday.

The move by UK-based Herbert Smith Freehills — itself a combination of British and Australian firms — comes amid a wave of mergers in the legal sector, most notably UK “magic circle” firm Allen & Overy’s decision last year to join forces with the ailing Shearman & Sterling in the US.

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A number of smaller firms within the US, such as Bryan Cave Leighton Paisner and Seattle-based litigation boutique Harrigan Leyh Farmer & Thomsen, have also merged in recent months.

Troutman Pepper and Dallas-based Locke Lord in September announced they will merge effective January 1, which analysts at research firm Fairfax Associates have said “indicates a higher level of activity for 2025”.

Herbert Smith Freehills’s announcement “is part of an accelerated pattern of consolidation”, said Kent Zimmerman, a consultant at Zeughauser Group, who advises leading law firms on business strategy.

“For a firm that aspires to global market leadership, the US is an imperative,” he added, citing increased profitability in the US. Meanwhile “for US firms, there is benefit in rapidly achieving transformative scale, while still maintaining a degree of independence.”

New York-based Kramer Levin recently lost the head of its litigation department, celebrated trial lawyer Barry Berke, who left along with a team of former assistant US attorneys.

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One of the firm’s top transaction partners, Richard Farley, is also being floated as possible nominee to lead the US Securities and Exchange Commission in the new Donald Trump administration.

Herbert Smith Freehills chair Rebecca Maslen-Stannage said the merger would be “transformational”.

“We have long been committed to expanding our offering in the US and Kramer Levin is the perfect fit,” she said. “The combination delivers immediate growth for both firms from day one.”

Howard Spilko, co-managing partner of Kramer Levin, said joining forces with Herbert Smith Freehills was “a one-of-a-kind opportunity”.

He added the merger “provides us with a significant competitive advantage by bolstering our destination practices with a deeper bench, broader geographic reach and sector expertise”.

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Spotify to launch new premium service aimed at music ‘superfans’

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Spotify to launch new premium service aimed at music ‘superfans’

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Spotify will launch a new super-premium subscription aimed at audio enthusiasts that will cost an extra $6 a month, said three people briefed on the matter, as the Swedish group expands the streaming service.

Spotify will charge $18 a month for the new service and debut it later this year after sealing fresh licensing deals with Universal Music and Warner Music to allow their copyrighted songs from artists such as Kendrick Lamar and Taylor Swift to be included in the subscription.

Spotify has not announced a fresh deal with Sony Music, the third major record label and home to stars such as Beyoncé. The new subscription might not come until the autumn, said one person familiar with the discussions.

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The subscription, called “Music Pro”, will offer three main features to entice sign-ups: higher-quality audio; early access to concert tickets; and increased functionality such as a “DJ” option for streaming.

The ticketing feature is part of a push by the music industry to capitalise on “superfans” — the listeners who regularly buy merchandise and flock to concerts for their favourite stars.

Spotify’s main rivals, Apple Music and Amazon Music, already offer higher-quality “lossless” audio as part of their basic paid music streaming plans. Spotify has been teasing its own hi-def audio product since 2021, but it has been delayed repeatedly.

Spotify has been on a hot streak, having recently reported its first full year of profitability after slashing costs and laying off thousands of staff. Its shares have nearly tripled in the past year as investors cheered the results.

With a stock market capitalisation of $130bn, Spotify is valued by Wall Street as worth more than all three of the major record labels combined. The labels wanted to wring more money from Spotify in the most recent deals.

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Chief executive Daniel Ek earlier this month teased his plans for a new subscription tier during an earnings call. “The next version of the music industry, I believe, is one where we’re going to tailor experience of Spotify to all of these different subgroups,” he said. “We’re sort of moving from this one size fits all to this much more sort of specialised tier as the base of consumers are growing into the hundreds of millions.”

As part of the deals agreed with Universal and Warner, Spotify will also add more professional music videos to its platform, as it looks to compete with YouTube, TikTok and others.

Deutsche Bank analysts predicted this super premium tier “could drive the next leg of revenue growth” for Spotify.

But Midia Research offered a more sceptical view. “You could make a case that a superfan tier is disruptive innovation, but that will depend upon whether it really pushes the boundaries of what streaming is,” analyst Mark Mulligan wrote. “Otherwise, it may only be as ‘disruptive’ as mobile carriers having premium plans for higher-spending consumers.”

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What caused the DC plane crash? Blackhawk helicopter may not have heard key transmission, NTSB says

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What caused the DC plane crash? Blackhawk helicopter may not have heard key transmission, NTSB says

A miscommunication and bad data may have contributed to last month’s deadly crash near Reagan National Airport.

The Blackhawk helicopter that crashed into the American Airlines flight preparing to land at Reagan National Airport on Jan. 29 may not have heard key instructions from the air traffic control tower as it approached the jetliner carrying 64 people on board, according to the National Transportation Safety Board. 

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“The instruction was to pass behind the CRJ. That transmission was interrupted — it was stepped on. We do not have evidence on the cvr of the Blackhawk they may have not received the “pass the behind the,’” said NTSB Chair Jennifer Homendy.

The revelation came as the NTSB provided an update on the investigation into the crash Friday afternoon. Officials say they have now wrapped up the on-scene portion of their investigation.

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NTSB also said approximately 20 seconds before the collision, the plane’s collision avoidance system issued an alert but they have not yet confirmed if the system was recognizing the Blackhawk in that alert. 

The NTSB says they will continue their investigation and move the wreckage from DCA to a secure location.

Homendy also told reporters the Blackhawk’s actual altitude may have been different from what the helicopter’s flight instruments showed the crew.

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“We’re confident with the radio altitude, radio altitude of the black hawk at the time of the collision that was 278 feet, but I want to caution, that does not mean that was what the black hawk crew was seeing,” Homendy said. 

And as for the possibility that the black hawk pilots were looking at bad data, aviation expert Richard Levy said  that “what the pilots were seeing on their altimeters would’ve been accurate if, number one, the altimeter setting is set correctly, and number two, it has passed certification tests. Then it would be rare for it to be inaccurate.”

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 One other thing that came up during Friday’s press conference, the NTSB says they believe the helicopter crew was wearing night vision goggles. Levy said this would be a challenging environment for that and that the goggles can impact your peripheral vision.

Deadly DCA plane crash

The backstory:

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Around 9 p.m. on Wednesday, Jan. 29, American Airlines Flight 5342 was inbound to Ronald Reagan National Airport at about 400 feet and a speed of about 140 mph when the plane rapidly lost altitude over the Potomac River, according to data from its radio transponder. 

A few minutes before landing, air traffic controllers asked the arriving commercial jet if it could land on the shorter Runway 33 at Reagan National, and the pilots said they were able. 

Controllers then cleared the plane to land on Runway 33. Flight-tracking sites showed the plane adjusting its approach to the new runway. 

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Less than 30 seconds before the crash, an air traffic controller asked the Black Hawk if it had the arriving plane in sight. The controller made another radio call to the helicopter moments later: “PAT 25, pass behind the CRJ.” Seconds after that, the two aircraft collided. 

The plane’s transponder stopped transmitting about 2,400 feet (732 meters) short of the runway, roughly over the middle of the river.

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The Source: National Transportation Safety Board

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Ukraine accuses Russia of drone attack on Chernobyl nuclear plant

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Ukraine accuses Russia of drone attack on Chernobyl nuclear plant

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A Russian attack drone carrying what Ukraine described as “a high-explosive warhead” has struck the Chernobyl nuclear power plant, piercing the protective structure over Reactor 4 — the site of the 1986 disaster.

Ukraine’s President Volodymyr Zelenskyy said on Friday the damage to the shelter was “significant”, according to initial assessments, but a fire caused by the attack had been extinguished. He added that radiation levels remained stable and were being “constantly monitored”.

The International Atomic Energy Agency said its team at the Chernobyl site “heard an explosion” at about 1.50am local time coming from the safe confinement protecting the remains of Reactor 4. “At this moment, there is no indication of a breach in the inner containment [unit],” the IAEA said.

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Completed in 2016, the containment unit is meant to safeguard the damaged nuclear reactor and keep radiation from leaking into the atmosphere.

This photo provided by Ukraine shows a damaged part of the sarcophagus covering Reactor 4 © State Emergency Service of Ukraine
Damage at the Chernobyl nuclear power plant
Damage inside the nuclear power plant © State Emergency Service of Ukraine

The latest Russian bombardment comes two days after US President Donald Trump phoned his Russian counterpart Vladimir Putin to “start negotiations immediately” to end the war.

Following Friday morning’s attack, Zelenskyy dismissed Putin’s claims that Moscow was seeking peace, arguing instead that Moscow was preparing to “continue deceiving the world”.

Zelenskyy, who is set to meet US vice-president JD Vance in Munich later on Friday, called for unified international “pressure on the aggressor”, adding: “Russia must be held accountable for its actions.”

IAEA director-general Rafael Grossi said Friday’s incident and the recent increase in military activity around Ukraine’s Zaporizhzhia nuclear power plant, which is occupied by Russian forces, underlined persistent nuclear safety risks. “There is no room for complacency, and the IAEA remains on high alert,” he said.

Zelenskyy condemned the attack, saying Russia had been carrying out such strikes on Ukraine’s infrastructure and cities “every night”.

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In footage captured by a security camera and shared on social media by the president, an explosion can be seen on the roof of the containment unit. A video filmed by a surveillance drone later on showed a fire caused by the attack and a large hole visible.

Photographs published by Ukraine’s state emergency service purport to show debris from a “Shahed” suicide drone that Iran has provided to Russia’s military and helped Moscow reproduce during the war.

The attack appeared to be part of a broader assault on Ukraine’s critical infrastructure, which has been targeted over the past winter months by Russia’s missiles and drones.

Odesa governor Oleh Kiper said a drone strike had also damaged port facilities in the Black Sea coastal region early on Friday. The air force said Russia had launched 133 drones at targets across Ukraine overnight.

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