text:
Greece lightning strikes again
Helena Smith
Long before the setting sun turns the sky above Mykonos into a blaze of crimson, they begin to arrive: super-yachts and pleasure boats and high-speed craft all vying for a spot in the Aegean isle's picturesque old port.
In his aviator sunglasses, Mykonos's harbour master, Lieutenant Jr Nicholaos Zigouris, supervises this elegant race for space.
"It wasn't like this last year or the year before," he says.
"There's been a huge leap in the number of private and professional boats sailing in, and the tourist season has barely begun."
Mykonos, the island made famous by Jackie Onassis, is braced to accept one million tourists this summer, but it is not only the international jet set descending on its shores.
The island's economy may be in free fall, its people hit by the harshest peacetime austerity programme ever imposed on an advanced Western state, but Greece is back in business.
After three lean years marked by riots, strikes, social upheaval and political unrest, 17 million or so holidaymakers — 1.5 times the country's population and an all-time record — are about to visit, according to officials.
The arrivals have never mattered more. Tourism accounts for almost 20% of GDP — and jobs. With recession-hit Greeks also struggling with a record level of unemployment, which has reached nearly 28%, the highest in the eurozone, industry earnings this year may well be the only income for many.
Up in the mini-resort that his father, Mykonos's first hotelier, built back in the 1960s, Andreas Fiorentinos says Greeks have learned the hard way to appreciate the benefits of tourism.
"The crisis has taught us that we cannot fool our clients," says Fiorentinos, taking in a spectacular view framed by bobbing yachts below.
"And it has made us more aware. People understand how important it is for our economy."
An outdated model
Like many, the third-generation hotelier believes the time has come for Greece to reinvent itself. For too long, he says, the industry has been overly dependent on its image as a destination of sun, sand and sea.
"As a result of catering to price-sensitive tourists interested only in drinking and the beach, we have failed to tap into a whole market," he sighs. "It's an outdated model that has to change."
Fiorentinos is also deputy secretary general of EOT, the country's tourism board. "For the past year we've been visiting tourist expos around the world to convey the message that Greece is not only about souvlaki and Zorba the Greek. If it weren't for our lumbering state we would have moved away from those stereotypes long ago."
The efforts to appeal to a broader and more affluent audience — evident in the blossoming of five-star resorts, boutique hotels and gastronomic and cultural tourism — have not been easy.
Breaking old moulds has frequently been thwarted by corruption and vested interests, the twin ills blamed for bringing the country to its knees.
"Take Delos," says Fiorentinos, referring to Mykonos's adjacent isle, an archaeological treasure trove and the country's most sacred site.
"It was considered the most important place in the ancient world. But do we show it off? No. Every day it closes at 3pm because the [state-run] archaeological service refuses to do otherwise."
In the same vein it has taken nearly 20 years for Mykonos to get a new marina, seen as vital for attracting the fast-growing cruise tourism sector and niche commerce.
New routes to the country
This year's sharp rise in numbers has been partly attributed to a 40% increase in travellers on cruise ships, mostly from the United States.
But it is not just Westerners who are fuelling this tourism boom. Seated in his air-conditioned Athens office, Andreas Andreadis, who heads the association of Greek tourism enterprises, Sete, says much of Greece's new traffic arises from the lifting of visa restrictions in long-haul emerging markets such as China, Turkey and Russia.
Russian arrivals at regional airports alone have shot up by 230% this year. "In Moscow, 13 000 visas are issued for Greece every day," Andreadis says.
"The volume is so high that Sete has employed 20 of its own people just to help stamp visas."
Airlines have more than one million extra seats and scores of new routes to the country, including to places such as Mykonos.
"We are linked to 14 countries and 28 destinations. There are daily flights to London, Milan and Istanbul," says Athanasios Kollias, the air traffic controller at the island's newly expanded airport.
"From now on, 120 charters are expected every week. In May the number of passengers flying in from abroad more than doubled."
Summer bookings to Greece from Germany and the United Kingdom have also soared.
Some of the 15% increase from Germany was attributed to the chancellor, Angela Merkel, because of her insistence on austerity, exhorting her compatriots to visit the country.
This month, Lufthansa chose Athens for the inaugural flight of its new flagship plane, the B747-8, the largest aircraft in the world.
For Andreadis the key to sustaining this boom is quality. And on Super Paradise beach, Mykonos's favoured spot for the cool and trendy, the emphasis on improved service is everywhere to be seen.
There's a champagne bar at one end and a massage tent at the other as holidaymakers lounge on new sunbeds, under new thatched umbrellas, and take in the turquoise waters below.
For people like Nikos Xydakis, who has run a beach taverna for the past 40 years, the new look is not just about survival.
"This year we had to do everything, even clean the beach because the state is in no position to help. But in life everything changes. The crisis has played a big role. Our tourists have changed and we have changed too." — © Guardian News & Media 2013
Helena Smith works from Athens. Helena Smith is the Guardian's correspondent in Greece, Turkey and Cyprus Helena Smith has over 7053 followers on Twitter.
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'TWAS night. And thickest gloom prevail'd around.
While all the world beside was in soft slumbers drown'd.
Unusual tremors seiz'd his aged frame!
Cold ran the circulating fluid thro each vein!
All form'd for horror, solemnly did rise.
When thus the vision spake and shook the deep profound.
"Shall mortal man tho made of dust,"
"Lift up his pigmy face"
"And tell the author of his race"
"He's free from moral taint, and absolutely Just"!
"The Angels in the brightest skies"
"Have faults in his all-searching eyes"
"'Fore uncreated ESSENCE is unclean."


text:
Patheon is a service brand within Thermo Fisher Scientific's brand portfolio. Contract development and manufacturing organization (CDMO) services offered under the Patheon brand include small molecule API, biologics, viral vectors, cGMP plasmids, formulation, clinical trials solutions, logistics and commercial manufacturing and packaging. In 2017, Patheon was acquired by Thermo Fisher Scientific to form its Pharma Services business.

History
Patheon was founded in Fort Erie, Ontario in 1974 as Custom Pharmaceuticals Ltd. In 1990, it began to expand to US markets. Custom Pharmaceuticals changed its name to Patheon in 1993 and was first publicly traded that year on the Toronto Stock Exchange.

In 2004, Patheon acquired MOVA, a drug manufacturer based in Puerto Rico, US. The deal proved unprofitable, and in 2007, the New York equity firm JLL Partners provided Patheon $150 million to restructure. Two years later, after a failed takeover bid by Lonza Group, JLL Partners bought a controlling interest in the company.

In December 2012, Patheon acquired Banner Pharmacaps, a drug manufacturer specializing in softgels, for $255 million. (Patheon changed the company's name the following year to "Banner Life Sciences"). In a $2.6 billion deal, Patheon merged with the pharmaceutical division of Royal DSM NV in 2014 to become a joint venture after JLL Partners bought a controlling stake in the latter as well, adding significantly to Patheon's European production capacity.

In 2015, Patheon acquired Agere Pharmaceuticals, an Oregon company specializing in drug solubility, and IRIX, a maker of specialist Active Pharmaceutical Ingredients in South Carolina, the latter for $162.78 million.

On August 29, 2017, Thermo Fisher Scientific completed its acquisition of Patheon for $7.2 billion.

Dosage Forms, Products
Patheon does not own any of the licenses of the products it manufactures and is often listed as the manufacturer on packaging, with the product license holder's brand name, product name and corporate identity being used. Clients include such pharmaceutical brands as Merck & Co, Novartis, Takeda and Sanofi Aventis, with biotechnology customers including Amgen and Avanir Pharmaceuticals. As of 2016, Patheon had manufactured or developed more than 800 products.

In 2016, Patheon's manufacturing sites included sites in Canada, the continental US, Puerto Rico, France, the United Kingdom, Italy, Austria, Germany, the Netherlands, Japan, and Australia.

Patheon manufactures products in various dosage forms including oral solids (tablets, capsules) and injectable sterile products (vials, ampoules, pre-filled syringes containing liquids, powders and lyophilisates).

References

External links
Patheon home page

Pharmaceutical companies established in 1974
Pharmaceutical companies of the Netherlands
Companies based in Amsterdam
Companies formerly listed on the New York Stock Exchange
2016 initial public offerings
1974 establishments in Ontario
2017 mergers and acquisitions

redpajama_set_name: RedPajamaWikipedia


Vinyl sales are starting to make a comeback on retail store shelves. Here are five you can't find on them.
Criminal Records, an independent music store located in the Little Five Points area of Atlanta, Georgia, has been hearing about the death of vinyl for the last twenty years. Records. They're old news, said Mel Pinson, a store manager, explaining the music industrys long-prevailing attitude. But when you see young kids and college students flipping through the racks, carrying out three or four albums, and new stuff like Radiohead, Black Keys and Portishead is moving like crazy, something is going on.
Whats going on is a 36 percent jump in vinyl shipments from 2006 to 2007, according to the Recording Industry Association of America. In a time when the music industry is bleeding cash, with labels folding and CD sales down 19 percent from last year, the growth rate of vinyl has provided a steady pulse of positive news for music retailers. In January 2007, vinyl albums accounted for less than 7 percent of Criminal Records' sales. Less than a year-and-a-half later, vinyl sales were up to 15.6 percent. Criminal Records isn't alone. Nielsen SoundScan reports vinyl sales shot up 15.4 percent last year, reversing a seven-year decline, and could reach $1.6 million this year.
Retailers are moving to capitalize on the trend. Amazon.com now offers over 150,000 titles on its vinyl-only store, launched last year. You can even get albums at Best Buy now, which is testing out vinyl sales in some stores. Here are five LPs we promise you wont find there.
According to a list of UKs most valuable records of all time, the top spot goes to The Quarrymen, a little Liverpool skiffle band that featured Ivan Vaughan on bass. Mr. Vaughan introduced his schoolmate John, who formed the outfit, to another friend, Paul, who joined the band a few weeks later. The 10-inch acetate -- which featured the first ever recording by the quintet that would launch The Beatles -- includes a cover of Buddy Hollys Thatll Be the Day. The other single is an original composition that McCartney co-wrote -- interestingly, not with Lennon, who sings lead vocals on both songs, but rather George Harrison. The one existing copy of the 1958 gem is owned by Paul McCartney and worth a reported 100,000 pounds. McCartney included a digitalized re-recording of it on 1995s Beatles Anthology Volume 1.
On December 8, 1980, John Lennon signed a fans copy of his Double Fantasy album. Five hours later that fan murdered the peace-loving icon outside the entrance of the Dakota Building. The record was found at the crime scene and later used as evidence at assassin Mark Chapmans trial -- his fingerprints were lifted off the cover. In 1999, autograph dealer Moments In Time sold the LP for an auction record $150,000. Good news: the dealer has put it back on the block for around $600,000.
In 1966, record company Paraphone recalled the album after retailers freaked over the cover art: the Fab Four dressed in butcher smocks, covered in baby parts and raw meat. The Holy Grail of what's become known as "The Butcher Cover" record is the Livingston collection, named after the 1960's Capitol Records President Alan Livingston, who signed the Beatles. Livingston stowed away a box of 24 sealed Butcher albums in his home, only to be brought to light twenty years later by his son. According to at least one Beatles memorabilia site, the value of the Livingston LP has tripled in the past years with the price for a single stereo copy hitting $85,000, with the market value for the entire collection approaching a million dollars.
Considered by many to be the most valuable U.S. album, it contains four tracks that were ultimately deleted from its final release in 1963 -- Talkin John Birch Society, Let Me Die in My Footsteps, Rocks and Gravel, and Gamblin Willies Dead Mans Hand. A number of these original copies were accidentally released into circulation with restamped labels. Today, mono copies likely sell in the high $10,000s while the two existing stereo copies fetch upwards of $40,000.
Montreal resident Warren Hills first attempt to sell his rare album on eBay turned sour when the winning bid of $155,401 in December 2006 turned out to be a fake. Before you brand Mr. Hill a schlimazel, consider that he bought the 12-inch acetate for 75 cents at a New York City flea market in 2002. A real buyer finally came forward, shelling out $25,000 for the fabled Warhol LP, which features different versions of the final release in different order.


Hope everyone has been having a fabulous Christmastime week! I know I have been having a lot of fun with family coming into town and present wrapping and decorating... not to mention my committee meeting at work that went pretty well. I have actually been so busy with that I spent two whole days with naked nails. Now I finally have them decked out for Christmas!
Hope you all have a great Christmas Eve today and a Merry Christmas tomorrow! As a heads up, next week I will be giving away the Nicole by OPI Holiday Glitters collection for a "New Year... New Polish!" giveaway - so be sure to come back and enter!
For these nails, I started off with two coats of OPI What's With the Cattitude? as the light sky blue base. On all but the ring finger, I stamped snowflakes using Konad White and plate m59. I also sponged white onto the tips in a fluffy gradient to give the look of snow. Finally, I painted the reindeer on the ring finger. I started off with OPI Suzi Loves Cowboys for the dark brown, then OPI San Tan-Tonio for the muzzle and antlers. I did the eyes with a dotting tool and added the red rhinestone for his nose. Finally I attempted some mouth-lines with black, but they came out a bit thicker and fuzzier than I had hoped.
I knew I was going to have to use the gorgeous green Nfu Oh 55 for something Christmas-y, and I thought these cute little present stamps made a perfect match!
For this manicure, I started off with two coats of Zoya Ivanka as a shimmery green base. I then layered on two coats of Nfu-Oh 55, and the result was pretty much exact bottle color with jut two coats of the super-sheer Nfu-Oh. I added the cute presents using Konad Special White and Sally Hansen Insta-Dri Rapid Red using the Bundle Monster plate BM205.
I love Nfu-Oh flakies, they are so amazing. This polish was perfect for the season and looked great. I don't often wear all green, but this is a great time of year - and a great polish! - to do it with!
For these nails, I started off with OPI DS Bold, followed by a heavy sponging of the tips with Zoya Ivanka. Finally, I topped it off with silver swirls using Zoya Trixie and Konad plate m64. The overall effect was very sparkly and festive. I took this manicure off on Friday... and I haven't painted my nails again yet. :( Still sick, but I will paint my nails today - sometime in between studying for my final and sleeping on the couch.
Today I wanted to share with you OPI DS Bold, the second newly released DS shade from OPI. This bright cherry jelly is packed with pink and silver glitter. This is two coats, which went on nice and smooth. It is a really nice polish.
That being said, I really have a hard time justifying this one being labeled as "DS" with the price bump. As I am sure many of you guessed or have read, it is a dupe for China Glaze Mrs. Claus from last year's holiday collection. It just doesn't have that extra... something... to justify the DS price tag, in my opinion. Gorgeous? Yes. $4 more expensive gorgeous? Probably not quite. Temptation was a hard enough stretch for me, but this one, while very nice, probably doesn't quite fit in with the DS line. Lets hope that next time we see new DS polishes, they really earn that price increase and the designation "Designer Series."
I am curious as to what you all think - do you agree that the new DS releases aren't quite worthy of the title? They are still very pretty though. On Wednesday I will post a fun Christmas mani I did with this one!
In my quest to grow out these peeling, unhealthy nails, I suffered another setback last week when I had a bad break and had to cut them all back. Good news? I think they are FINALLY starting to get a bit stronger now... but I hated losing the bit of length I had grown back. I guess I would rather them be short and strong for now though. Hopefully I can achieve long and strong soon!
After the break I went with something simple. This is Meep Meep Meep from the OPI Muppets collection, topped off with a coat of OPI Black Shatter. I love the contrast between these two colors and the finish on Meep Meep Meep is incredible!
This weekend I am finally going to get around to doing some swatching! I think my nails should be able to handle it by now, even if the swatches will be a bit short. So expect to see a lot of the more recent collections soon! Also, I will have a (slightly late) holiday giveaway coming up. Hope everyone is having great end of the year!
Here is a cute and girly mani I put together using polka dots and bows. Becky's comment was "This is really cute. I should be wearing it, not you." Hm... thanks Becky. :P Surprisingly, this was not done for a K-State event, haha.. although it would have been good!
Okay, I will be completely honest, I have no idea what this color has to do with mistletoe. That being said, this is an amazing polish.
Color Club Beyond The Mistletoe is a dazzling light blue holo glitterbomb. This is three coats, and application was fairly decent, for a chunky glitter. Like most chunky glitters it had some chipping problems, but I am totally willing to put up with it. Look at that holo effect! This polish is just totally and completely stunning. It is the only one I got from this collection (darned budget) and I am glad it is the one I picked. So wintery and fun!


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How Hairdressers Can Help Fight Skin Cancer : Shots - Health News Over a lifetime, our heads and necks receive a ton of exposure to the sun's UV rays. But most medical checkups don't include exhaustive exams of our hair and head. So public health researchers want to recruit hair stylists to help. It turns out, some of them are already performing informal skin cancer exams on clients.
Health News From NPR
Treatments & Tests
Health Inc.
Policy-ish
How Hairdressers Can Help Fight Skin Cancer
October 18, 201111:05 AM ET
Maria Godoy
Hair stylists already spend a lot of time staring at the back of people's heads. Researchers thought: Why not train them to check for suspicious lesions and other signs of skin cancer while they're at it?
Seth Wenig/AP hide caption
Seth Wenig/AP
We here at Shots have long considered our trips to the hair salon to be good for our mental health: A pampering head massage in the shampoo chair can be amazingly relaxing.
Public officials think hair stylists could play a vital role in physical health, too, by helping spot potentially cancerous skin lesions on their clients' scalp, neck and face. Research published Monday in the Archives of Dermatology suggests some stylists and barbers are already informally performing these skin cancer exams on clients.
In a survey of 203 Houston-area hair salon workers, 58 percent of respondents told researchers from Harvard's School of Public Health that they had urged a client at least once to get a mole checked out by a medical professional.
"Almost every dermatologist I've talked to anecdotally has said to me, Yes, I've had a melanoma case referred to me by a hair professional," Alan Geller, a senior lecturer at Harvard and study co-author, tells Shots.
Hairdressers and barbers tend to enjoy an easy rapport with clients, see them regularly and often share advice with them. All of which explains why, over the years, public health officials have recruited salon workers' help in various health awareness campaigns — such as encouraging women to seek mammograms and men to get prostate screenings. Many of these efforts have focused on reaching minority communities.
Getting hair salons to help in the fight against head and neck cancers made a lot of sense to Geller and his colleagues: Stylists and barbers spend much of their time staring at their clients' scalps and necks. Over a lifetime, these areas receive a ton of exposure to the sun's UV rays.
More than 80 percent of the most common types of skin cancers — squamous cell carcinomas and basal cell carcinomas — occur on the scalp, neck and face. And melanomas, the most dangerous form of skin cancer, tend to be "disproportionately fatal" on the scalp, Geller says, perhaps because an exhaustive exam of the head and hair isn't a standard part of most visits to the doctor.
"We asked ourselves, who might be most predisposed to looking at the neck and face?" Gellar says. He and his colleagues wanted to know if hair professionals would be willing to receive more formal training in spotting different types of skin cancers; 49 percent of survey respondents said yes.
Even without training, many of the hair care workers were already performing their own exams. The survey found 37 percent said they had checked out more than half of their clients' scalps in the month prior to the survey, which was conducted in January 2010. About a third said they'd looked at more than half of clients' necks.
Geller and his colleagues are now working with the Melanoma Foundation of New England to develop a statewide program to train hair professionals in Massachusetts on how to recognize potential signs of skin cancer. It should be up and running later this year.
Geller acknowledges it's possible some hair stylists may cause needless worry in clients by pointing out moles and lesions that turn out to be harmless. "I think the best way that we're trying to reassure customers," he says, "is to have hair professionals say, 'I'm not an expert. But maybe the most important thing you can do is to see your doctor as soon as possible.' "

redpajama_set_name: RedPajamaCommonCrawl


text:
Fu battezzato con i nomi di Alessandro Edoardo e gli fu dato il titolo di Duca d'Angoulême. Divenne poi Duca d'Orléans nel 1560, quando morì il fratello Francesco II di Francia e salì al trono il fratello Carlo IX, di solo un anno più vecchio di lui. Il 17 marzo 1564, data della sua Confermazione, prese il nome "Enrico"; nel 1566, fu nominato Duca d'Angiò.

L'11 maggio (giorno della Pentecoste) 1573, fu eletto Re di Polonia, con il nome di Enrico di Valois (in polacco: Henryk Walezy); giurò a Parigi, di fronte a una delegazione di nobili polacchi, la sua fedeltà agli Articoli enriciani e regnò sulla Polonia fino al 18 giugno 1574, quando, saputo della morte del fratello Carlo, scappò dalla Polonia per salire al trono di Francia. Fu consacrato a Reims il 13 febbraio 1575 con il nome di Enrico III e il 15 febbraio sposò Luisa di Lorena-Vaudémont.

Salendo sul trono francese, Enrico III si trovò davanti un Paese diviso, dove la sua autorità era solo parzialmente riconosciuta. Debole di salute, dedito a comportamenti edonistici e poco accorto economicamente (aspetti sui quali i pamphlet degli avversari politici si accanirono) non riuscì a risolvere i gravi problemi religiosi, politici ed economici che attanagliavano il regno, che anzi si esacerbarono. Durante i 15 anni del suo regno si succedettero ben quattro guerre di religione. Enrico III dovette lottare contro partiti politico-religiosi, regolarmente sostenuti da potenze straniere, che finirono per minare la sua autorità: in particolare quello dei Malcontent, guidato dal fratello minore Francesco Ercole di Valois, quello degli ugonotti, rappresentati principalmente da Enrico di Navarra, e la Lega cattolica, capeggiata dai Guisa e sostenuta dagli spagnoli. Alla fine fu proprio un membro della lega a porre fine al regno dei Valois. Il 1º agosto 1589 venne accoltellato da Jacques Clément (un frate fanatico della Lega, pochi mesi dopo avere ordinato l'assassinio degli ambiziosi fratelli Guisa, Enrico e Luigi) e morì il giorno seguente.

Biografia

Giovinezza

Infanzia

Nato nel castello di Fontainebleau, era il quarto figlio del re di Francia Enrico II e di Caterina de' Medici. Venne inizialmente battezzato con i nomi di Alessandro Edoardo e nominato duca d'Angouleme. Nel 1560, con l'ascesa al trono del fratello Carlo IX, divenne duca d'Orléans. Al momento della cresima a Tolosa (17 marzo 1565) nella cattedrale di Saint-Étienne, cambiò il nome in Enrico, in onore del padre. L'8 febbraio 1566, divenne duca d'Angiò.

Fino alla morte di suo padre Enrico crebbe con i suoi fratelli e sorelle nei castelli di Blois e Amboise. Durante la prima infanzia, venne affidato a vari tutori, in particolare a Jacques Amyot ricevendo un'istruzione classica.

Durante l'infanzia, influenzato dagli scontri fra cattolici e ugonotti, si divertiva a bruciare il libro di preghiere di sua sorella Margherita - racconta lei stessa nelle proprie Memorie -, dandole in cambio quelli ugonotti, dileggiando la religione cattolica, senza che sua madre se ne preoccupasse più di tanto.
Fin dalla giovinezza Enrico fu molto amato dalla madre Caterina de' Medici, che sfruttò tutte le occasioni per metterlo in luce.

Egli esercitò molto presto il ruolo di principe reale, come testimonia la sua presenza ufficiale agli Stati Generali del 1561. Nel 1565, a solo quattordici anni, in occasione dell'incontro di Bayonne, fu incaricato di andare in Spagna a trovare sua sorella, la regina Elisabetta di Valois. Il giovane principe si fece notare per la sua eleganza e l'amore per il lusso.

Luogotenente generale del regno
La madre desiderava che Enrico diventasse un appoggio sicuro per la monarchia. A sedici anni Enrico diventò luogotenente generale. Questa altissima carica militare lo pose al secondo posto del regno, dopo il re suo fratello.

Sfortunatamente le ambizioni politiche di Luigi, principe di Condé, che ambiva al trono, provocarono una forte rivalità tra lui e il principe, che innescò la ripresa delle ostilità tra il re e i protestanti di cui Condé era il capo. Enrico si impegnò allora personalmente nella seconda e terza guerra di religione e grazie ai suoi luogotenenti si fece onore vincendo le battaglie di Moncontour e di Jarnac. Nel corso di quest'ultima il principe di Condé rimase ucciso.

I successi militari di Enrico e il suo comportamento da principe ideale lo resero popolare e provocarono la gelosia del fratello Carlo IX. Il duca d'Angiò dovette molto presto confrontarsi con la politica. Più vicino ai Guisa che ai Montmorency - nel seno del consiglio reale dove la madre l'aveva introdotto - predicava una politica di rigore contro i protestanti.

Dopo la pace di Saint-Germain, Caterina de' Medici iniziò una serie di trattative matrimoniali per i suoi figli: dopo le nozze del re con la figlia dell'imperatore Massimiliano II, per Enrico pensò a Elisabetta I, regina d'Inghilterra, ma il duca rifiutò la proposta per motivi religiosi. Inoltre il principe era innamorato della bella Maria di Clèves, moglie del Condé.

Durante gli eventi passati alla storia con il nome di notte di san Bartolomeo (24 agosto 1572), Enrico stava dalla parte del duca di Montmorency, governatore di Parigi. Non vi è prova di una partecipazione diretta del principe al massacro, ma una delle ipotesi per spiegare l'intervento di Carlo IX a legalizzare l'uccisione dei capi ugonotti è che era emerso il suo coinvolgimento nel tentato assassinio di Coligny che lo precedette e in buona parte giustificò.

Nel popolo il fanatismo religioso non si era spento e si stava diffondendo anche un grande malcontento. Tra i sudditi non vigeva più il caratteristico attaccamento alla monarchia, che da tempo non era capace di garantire pace e stabilità. Nelle città come La Rochelle, in cui il credo ugonotto era più radicato, venne messa in discussione l'autorità regale. Per ristabilirvi il potere regale Enrico prese d'assedio la città per parecchi mesi, ma senza successo.

Re di Polonia

L'elezione al trono polacco

Il duca d'Angiò ebbe l'occasione di riscattarsi grazie a sua madre: giunse infatti la notizia della sua elezione come re di Polonia. Caterina aveva infatti inviato il vescovo di Valence, Jean de Montluc, come ambasciatore straordinario per sostenere davanti al Sejm, il parlamento polacco-lituano, la candidatura del figlio al trono elettivo della Repubblica delle Due Nazioni, nata nel 1569 con l'atto di unione di Lublino. Grazie alla sua abilità di diplomatico e al denaro francese, Montluc riuscì a convincere l'assemblea ed Enrico fu eletto "Z Bożej łaski król Polski i wielki książę litewski" re della Confederazione polacco-lituana, con il nome di Henryk Walezy, cioè Enrico di Valois, il 9 maggio 1573, anche se la proclamazione ufficiale avvenne due giorni dopo.

A seguito di ciò venne smobilitato l'assedio a La Rochelle e fu firmato l'editto di Boulogne (11 luglio 1573), per permettere all'esercito e al duca d'Angiò di potere tornare a Parigi per i preparativi, in vista dell'arrivo degli ambasciatori polacchi.

Il 19 agosto seguente arrivarono a Parigi duecento notabili polacchi che portavano la corona al loro nuovo re. Per accoglierli vennero organizzate sontuose feste. Nel frattempo suo fratello Carlo IX designò Enrico suo erede in assenza di figli maschi «nonostante che egli fosse assente e residente lontano da questo regno».

Il 26 agosto i polacchi iniziarono delle trattative con il nuovo sovrano per fargli firmare i pacta conventa, articoli della nuova costituzione polacca votati dalla Dieta. Enrico avrebbe dovuto accettarli tutti, altrimenti non sarebbe stato riconosciuto come sovrano di Polonia. Oltre alla nuova costituzione a Enrico furono presentate anche altre proposte: le sue rendite francesi avrebbero dovuto ripagare il debito della Polonia, pagare l'esercito polacco, creare una flotta per lo stato, dare nuovo lustro all'università di Cracovia permettendo scambi culturali con la Francia e l'Italia e infine sposare la sorella del defunto re, Anna Jagellona.

Le trattative per conto del duca d'Angiò furono portate avanti da René de Villequier, Philippe Hurault de Cheverny e il cancelliere René de Birague. Gli articoli vennero infine approvati il 9 settembre. Enrico riuscì a trattare su due punti: le nozze con Anna Jagellone, poiché mancava il consenso di quest'ultima, e la possibilità di scegliere personalmente come usare in Polonia i soldi provenienti dalla Francia.

Il 10 settembre avvenne la cerimonia di giuramento a Notre-Dame de Paris e tre giorni dopo, nel palazzo di Giustizia, Enrico ricevette il diploma del decreto d'elezione. Dopo una serie di fastose celebrazioni, il duca si mise in viaggio verso Cracovia, capitale del suo nuovo regno, accompagnato dalla delegazione polacca e dalla corte francese. Suo fratello Carlo IX si ammalò gravemente e lasciò la corte a Vitry. A Nancy, il re di Polonia e il suo seguito furono ospitati da sua sorella Claudia di Valois e dal cognato Carlo III di Lorena. Durante alcune feste, Enrico conobbe Luisa di Vaudémont, sua futura moglie.

Giunti a Blâmont, il re di Polonia dovette separarsi, non senza rammarico dalla famiglia e dalla corte. Fu in questa occasione che Enrico chiese nuovamente sostegno a sua sorella Margherita e di rinsaldare la loro alleanza politica che si era dissolta tempo prima e la sorella accettò. In Polonia Enrico procrastinò alcuni passi che lo avrebbero legato strettamente al regno, come il matrimonio con la sorella del re, ben più vecchia di lui e assai poco attraente.

Ritorno in Francia

Alla morte del fratello Carlo IX, il 30 maggio 1574, vennero immediatamente inviati diversi corrieri assai fidati a Enrico, che venne avvisato però da un messaggero dell'Imperatore poco prima del loro arrivo, il 15 giugno. Conscio dello stato precario di salute in cui il fratello versava da mesi, aveva compiuto alcuni preparativi per il viaggio, ma in modo poco accurato. Pochi giorni dopo, dimostrando un certo coraggio personale, con pochissimi compagni fuggì da Cracovia, dirigendosi verso i territori imperiali slesiani. Enrico lasciava infatti la Polonia senza il consenso della Dieta, portando con sé nella sua fuga anche i gioielli della corona polacca. Formalmente conservò la corona di Polonia fino al 18 giugno dell'anno seguente.
A Vienna venne calorosamente accolto dal suo ex rivale per il trono polacco, Massimiliano II, ed entrò in possesso del denaro inviatogli dalla madre.

Passò poi in Italia. L'11 luglio 1574 arrivò a Venezia, dove venne accolto con entusiasmo. Vi si trattenne una quindicina di giorni, spendendo una quantità enorme di denaro in feste e regali, rapito dal clima di festa e opulenza della città.

Raggiunto dallo zio Emanuele Filiberto di Savoia, passò quindi per Ferrara, Mantova, Torino e infine le Alpi, continuamente sollecitato ad affrettarsi dalle lettere della madre, che si era fatta dichiarare reggente dal figlio morente. Malgrado il fratello minore di Carlo, Francesco duca d'Alençon, e il cognato Enrico avessero senza indugio ratificato l'atto, Caterina era preoccupata dalla situazione politica turbolenta.
In particolare il duca d'Alansone, alleato al re di Navarra, nei mesi precedenti la morte di Carlo IX si era posto a capo di una serie di complotti orditi dal gruppo dei Malcontent, fazione politica formata da protestanti e cattolici moderati. Questi complotti, sventati in parte dalla regina madre e dalla disorganizzazione degli stessi fautori, miravano ad attuare un colpo di stato e mettere sul trono di Francia il cadetto dei Valois. Alleata a suo fratello Francesco, vi era anche Margherita di Valois: la regina di Navarra aveva infatti deciso di schierarsi con il fratello minore, tradendo le promesse fatte a Enrico prima della sua partenza per la Polonia.

Malgrado questo Enrico si trattenne diversi giorni in Savoia, dove si fece convincere dallo zio a ottemperare alle cessioni di alcune città piemontesi previste dal trattato di Cateau-Cambrésis, che non erano mai state attuate, malgrado la regina madre lo avesse pregato nelle sue lettere di non fare concessioni ai suoi favoriti o di prendere decisioni importanti prima del suo rientro. Fu una decisione impopolare, che si attirò le proteste di diversi nobili (lo stesso duca di Nevers, confidente stretto di Caterina, era governatore di alcuni territori francesi in Italia), ma gli fece ottenere alcune migliaia di soldati savoiardi. Caterina, che aveva lasciato Parigi alla volta di Lione portando con sé Francesco Ercole (divenuto duca d'Angiò) ed Enrico di Navarra, strettamente sorvegliati da tempo, riabbracciò l'amato figlio a Bourgoin il 5 settembre. Enrico abbracciò i due congiunti e con un atto di magnanimità li perdonò, chiedendo in cambio di astenersi da complotti e intrighi contro il nuovo regno.

Il giorno seguente Enrico entrò a Lione, ma volle fare il suo ingresso in maniera non ufficiale poiché non era stato ancora consacrato.

Re di Francia

L'inizio di un regno caotico
A Lione Enrico riunì il suo primo Consiglio e su proposta della regina madre decise di assottigliare il numero di segretari di stato, che dovevano tornare a svolgere il compito di redattori, e di eliminare il Consiglio delle Finanze, che nel tempo aveva travalicato le sue attribuzioni decidendo su altre questioni rispetto a quelle finanziarie. Il sovrano decise di fare accedere al Consiglio di Stato otto membri fidati che lo avevano seguito durante il suo regno in Polonia (Villequier, Retz, Souvré, Larchant, Bellegarde e Ruzé), affidando loro incarichi importanti a corte.

Supportato dal Consiglio rifiutò le proposte di trattative proposte da Enrico I di Montmorency, conte di Damville. Il clero avrebbe pagato le spese della guerra, come ottenuto dalla regina madre. Dopo una requisitoria fortemente polemica del conte di Damville, iniziò una campagna di libelli contro la famiglia reale: secondo un famoso libello dell'epoca Le Réveille-matin des Français, la dinastia Valois avrebbe dovuto essere sostituita dai discendenti di Carlo Magno, cioè i Guisa.

Enrico fu incoronato a Reims il 13 febbraio 1575 con il nome di Enrico III. Il 15 febbraio sposò Luisa di Lorena-Vaudémont.

Sia il fratello Francesco, duca d'Alençon sia il re di Navarra finirono per lasciare la corte e prendere le armi. Allora iniziò una campagna che fu disastrosa per il re. Nonostante la vittoria del 6 maggio 1576, Enrico III concesse la pace chiamata pace di Monsieur, di cui suo fratello (a cui il re concesse diversi titoli, tra cui quello di duca d'Angiò) fu il principale beneficiario assieme ai protestanti che ottennero numerosi vantaggi in ambito di libertà religiosa. Umiliato, Enrico III pensò di prendersi la rivincita.

Alla fine dell'anno egli doveva convocare gli Stati Generali a Blois per cercare di mettere riparo al deficit finanziario causato dalla guerra. Spinto dai deputati cattolici, decise però di riprendere la guerra contro i protestanti. Prima di iniziarla, si riconciliò con il fratello che, ricoperto di benefici, marciò al suo fianco. La campagna fu vittoriosa per il re: il 17 settembre 1577, l'Editto di Poitiers soppresse le libertà concesse agli ugonotti precedentemente.

Enrico III lasciò alla madre il compito di perfezionare la pace. Dopo un soggiorno a Nérac, dove riconciliò la coppia Navarra, ella fece un lungo giro in Francia e suggerì al re di sostenere le ambizioni di Francesco d'Angiò per i Paesi Bassi. Enrico III chiuse gli occhi sulle attività politiche del fratello a scapito degli spagnoli. L'ipocrisia della diplomazia francese provocò la collera di Filippo II e le tensioni franco-spagnole.

Il 26 luglio 1582 la flotta francese andata a conquistare Madera e le Azzorre venne completamente sconfitta da quella spagnola. L'ammiraglio spagnolo di Santa Cruz fece divulgare la relazione riguardante i morti e i prigionieri giustiziati nei modi più crudeli, tanto che l'opinione pubblica, il re e la regina madre furono duramente colpiti dal disastro militare: «se possibile dobbiamo vendicarci al più presto», affermò il sovrano.

Nel frattempo il re aveva ordinato a dei commissari di informarsi sul riscatto del demanio e sul modo di alleggerire l'imposizione fiscale al popolo. Nei primi mesi del 1583, dalle ricerche commissionate, nacquero alcune riforme come il Codice delle acque e delle foreste e un regolamento sulla ripartizione della taglia. Dopo la promulgazione di queste riforme, il sovrano cadde in una profonda crisi di malinconia, tanto da sembrare «sul punto di attentare alla sua vita» scrive Ivan Cloulas, storico francese.

Dopo il fallimento del fratello Francesco d'Angiò ad Anversa, Enrico III strinse ancor di più l'alleanza con la regina Elisabetta I d'Inghilterra.

La sua maniera di governare

Fu continuatore della politica della madre, Caterina de' Medici, nell'escludere dagli affari dello Stato i nobili delle grandi famiglie aristocratiche che non avevano mai cessato, fin dall'inizio delle guerre di religione, di scontrarsi per il potere. Il re promosse al rango della corte gli uomini della piccola nobiltà, per averne la fedeltà: vi si appoggiò nella sua attività di governo, affidando loro grandi responsabilità.

La corte di Enrico III si compose quindi di una folta schiera di favoriti che conobbero una carriera folgorante e che saranno chiamati i mignon. Il re voleva intorno a sé uomini completamente devoti: per realizzare questo progetto creò, nel 1578, l'Ordine dello Spirito Santo, un ordine cavalleresco che riunì tutti i membri intorno a lui. Per imporsi il re mirava a impressionare i suoi sudditi.

Organizzava feste sontuose, come quelle date in onore del matrimonio del duca di Joyeuse con la sorella della regina Luisa nel 1581. In questa occasione si rappresentava a corte il sontuoso Ballet Comique de la Reine. Il re concedeva come ricompensa anche somme di denaro rilevanti ai servitori più zelanti. Tutte queste spese non fecero che aumentare i debiti del regno, ma per il re la restaurazione del potere reale restava l'obiettivo primario.

D'altra parte, Enrico III organizzò diverse riforme importanti, soprattutto riforme monetarie che dovevano sistemare i problemi finanziari del regno. Enrico III rese anche l'etichetta di corte più rigida, anticipando così quella di Versailles di un secolo più tardi. Come Luigi XIV più tardi, Enrico III cercò di mettere in rilievo la sua maestà.

La guerra dei tre Enrichi
La pace instauratasi da qualche anno fu seriamente minata quando il fratello Francesco morì nel 1584 senza figli. Lo stesso Enrico III non riuscì ad avere figli e quindi eredi. La dinastia dei Valois era perciò destinata a estinguersi. Secondo la legge salica la corona sarebbe dovuta andare a Enrico III, re di Navarra, esponente del ramo cadetto dei Borbone che discendeva direttamente e per linea maschile da Luigi IX di Francia, detto San Luigi; Enrico era, tra l'altro, marito di Margherita di Valois, sorella di Enrico III di Francia. Il fatto che il re di Navarra fosse protestante causava però un grande problema per le coscienze cattoliche, per le quali era assolutamente impossibile che un protestante potesse salire sul trono di Francia.

Per i cattolici era anche difficile ipotizzare una riconciliazione tra il re di Francia e il re di Navarra. Sotto la spinta della Lega cattolica e del suo capo Enrico di Guisa, Enrico III firmò il trattato di Nemours (7 luglio 1585). Il re ordinò di cacciare gli eretici dalla Francia e soprattutto dichiarò guerra all'ugonotto Enrico di Navarra, suo potenziale successore. Iniziò così l'ottava e ultima guerra di religione.

Tuttavia, le ambizioni della Lega Cattolica e la sua vasta dimensione provocarono l'odio del re verso il movimento. Egli tentò in tutti i modi di frenarne la diffusione. Molto presto tra lui e gli ambienti cattolici cittadini, il cui malcontento andava crescendo, si creò un fossato. Questi ultimi lamentavano la mancanza di energia nella guerra contro i protestanti.

Enrico III in effetti cominciò a temere più le ambizioni della lega che i protestanti. L'immagine del re, fortemente criticata dai pamphlet della Lega e dal clero parigino si deteriorò anche negli ambienti popolari. Il 12 maggio 1588 gli estremisti cattolici parigini provocarono un'insurrezione: fu la giornata delle barricate e il giorno successivo il re fu costretto a lasciare a Parigi.

Enrico III ormai non aveva più nulla da perdere e convocò gli Stati Generali a Blois. Il 23 dicembre 1588, il re fece assassinare il duca Guisa dai Quarantacinque, la sua guardia privata, mentre esponenti della Lega e parenti del Guisa erano messi in arresto nel castello di Blois. Il giorno seguente fu ucciso a colpi d'alabarda il cardinale di Guisa, fratello del duca, evento che fu condannato dal Vaticano. I cadaveri dei due fratelli vennero fatti a pezzi e bruciati in un camino del castello.

Il re si presentò davanti alla madre gravemente malata per informarla dell'accaduto: «Il signore di Guisa è morto; non si parlerà più di lui. [...] Io voglio essere il re e non più prigioniero e schiavo come sono stato dal 13 maggio fino a questo momento, nel quale riprendo a essere re e padrone». Caterina de' Medici morì il 5 gennaio successivo di pleurite: per evitare dicerie, il re ordinò un'autopsia.

Privata del suo capo, la Francia della Lega destituì il re. Le truppe reali e quelle protestanti allora si unirono contro la Lega. Ma il 1º agosto 1589, Enrico III fu assassinato da Jacques Clément morendo il giorno dopo. Suo cugino, Enrico di Navarra gli succedette con il nome di Enrico IV di Francia. Finì così la dinastia dei Valois, che regnava in Francia dal 1328.

Il mistero di Enrico III

La sua personalità
Enrico III era un uomo di contrasti e dalle molte sfaccettature: quella di uomo fiero, distinto e solenne ma anche quella di uomo stravagante, amante del divertimento e del piacere. La sua personalità fu complessa: sotto un'apparente dolcezza nascondeva un animo spesso nervoso che lo portava talvolta ad avere violenti accessi di collera.

Enrico possedeva soprattutto la grazia e la maestà di un re. Sempre alla ricerca dell'eleganza, curava molto il suo aspetto. Amante della moda (in particolare di orecchini e profumi), fu il primo a indossare una figura lugubre come quella del teschio, seppure su dei bottoni, sul farsetto e sui nastri delle scarpe, come fece per la morte della sua amante Maria di Clèves. Persona molto dolce, detestava la violenza e cercava di evitare le battaglie. Inoltre non amava l'attività fisica pur essendo uno dei migliori spadaccini del regno. Il suo disgusto per la caccia e per la guerra, privilegi della nobiltà del tempo, come il suo gusto per la pulizia e l'igiene, gli valsero aspre critiche da parte dei suoi contemporanei, molti dei quali lo considerano un uomo dal comportamento effeminato. Educato in un ambiente umanistico, il re incoraggiava il mondo letterario, sostenendo finanziariamente scrittori (Montaigne, Du Perron) e si dedicava alla filosofia.

Enrico III era un re più adatto a discutere con i suoi ministri piuttosto che a guerreggiare sui campi di battaglia. Questo non gli impedì di partecipare a diverse campagne militari come quella contro il principe di Condé a Jarnac. Era un uomo molto intelligente, che mostrò in generale clemenza nei confronti dei suoi oppositori e delle città ribelli, ricercando sempre soluzioni diplomatiche.

Il sovrano fu un uomo molto pio, profondamente cattolico, e con l'età la sua devozione aumentò. La sfortuna e i mali che gravavano su di lui alla fine del suo regno gli diedero perfino un certo gusto per il macabro. Il re, di natura piuttosto emotiva, credeva che le sue sfortune, in particolare l'assenza di eredi, e quelle del regno fossero dovute ai suoi peccati. Perciò, per espiarli, spesso si ritirava per giorni interi nei monasteri a mortificarsi o in ritiri spirituali, alternando questi periodi di crisi mistica a cui obbligava l'intera corte a periodi di vita più mondana, esponendosi al biasimo dei sudditi.

Le amanti di Enrico III

I contemporanei di Enrico III ci hanno descritto il re come un uomo che amava molto le avventure femminili. Se queste furono meno conosciute di quelle di Enrico II o di Francesco I, ciò è dovuto al fatto che, per rispetto a sua madre e a sua moglie, Enrico III non conferì mai alle sue amanti il titolo di "favorite".

Sue amanti furono Françoise Babou de La Bourdaisière (madre di Gabrielle d'Estrées, futura famosa favorita di Enrico IV di Francia) e Renata di Rieu, dalla media nobiltà.

Nel suo viaggio italiano al rientro dalla Polonia, nel giugno del 1574, incontrò a Venezia la bellissima e famosa cortigiana Veronica Franco, della quale divenne amante. Allo stesso tempo, la sua passione per Maria di Clèves era conosciutissima e le numerose lettere che le scrisse ne sono ancor oggi la prova. Sperava di poterla sposare una volta ottenuto l'annullamento del matrimonio dal principe di Condé, tornato calvinista, ma Maria morì per delle complicanze al parto il 30 ottobre 1574: Enrico mostrò alla corte un lutto ostentato.

Nel 1575 il sovrano scelse di sposare Luisa di Lorena-Vaudémont, che pare somigliasse molto a Maria di Clèves. Questa decisione colse di sorpresa Caterina de' Medici che stava trattando per un possibile matrimonio con la figlia del re di Svezia, infatti non vi erano alcune ragioni politiche per queste nozze, la futura regina infatti «portava in dote unicamente la bellezza, la gentilezza [e] l'abnegazione totale al marito», scrive Benedetta Craveri.

La regina Luisa era molto importante nella vita spirituale ed emotiva del re, e i due avevano molta intimità. In un'occasione, Caterina de' Medici entrando negli appartamenti del re senza farsi annunciare, sorprese la regina sulle ginocchia del marito. Questa intimità non impedì a Enrico III di continuare le sue avventure galanti con varie donne (Demoiselles d'Assy, di Mirandola, di Ponto, Stavay, o una sorella di Gabrielle d'Estrées) anche dopo il suo matrimonio, seppur in maniera più discreta. Per rispetto verso la moglie che amava organizzava i suoi incontri amorosi con le amanti fuori dal palazzo, in dimore a Parigi.

Storiografia

Enrico III fu una figura controversa per i suoi contemporanei. «Sarebbe stato un principe eccellente se avesse avuto in sorte di vivere nel secolo giusto» disse il cronista Pierre de L'Estoile alla morte del re per ricordare che, nonostante la sua particolare personalità e l'esplosione di odio a cui dette luogo, Enrico III aveva anche le sue qualità.

In vita il sovrano ebbe forti sostenitori e ammiratori, ma altrettanti detrattori della sua immagine. Durante le guerre di religione i preti parigini non esitavano a diffondere false notizie sul re, ingiuriandolo e ridicolizzandolo nel corso di prediche infuocate. Negli ultimi mesi del suo regno, la chiamata alla rivolta venne accompagnata da una violenta ondata di libelli diffamanti destinati a sovvertire l'immagine del re nella mente dei francesi, in particolare dopo l'assassinio del duca di Guisa.

Il cambio di dinastia non permise la riabilitazione di questo re beffeggiato, nonostante le perorazioni della regina Luisa e della duchessa di Angoulême. Sotto la dinastia Borbone le vecchie mode furono derise e la corte di Enrico III ne fu l'oggetto. Il sovrano fu in particolare preso di mira dalla storiografia protestante, soprattutto dopo la notte di san Bartolomeo, e da quella borghese che ne criticava l'immoralità di cui era stato accusato. Nel libello Le réveil-matin des Français (1574) fu persino accusato di incesto con sua sorella Margherita.

A lungo andare l'immagine trasmessa di Enrico III fu indissociabile da quella dei suoi favoriti, comunemente chiamati mignons, termine già popolare nel XV secolo. Nel XIX secolo era un tema alla moda nel quale si cimentarono diversi pittori e autori romantici, raffigurando Enrico III circondato da efebi effeminati, dai costumi eccentrici e grotteschi.

Questa immagine caricaturale del re, associata alla sua presunta omosessualità, rimase molto popolare. I testi che accusarono di omosessualità il sovrano provengono da pamphlet scritti da esponenti della Lega, dagli ugonotti o dai Malcontent. Anche i cronisti come L'Estoile o Brantôme, noti per avere annotato varie informazioni scabrose sui personaggi di spicco dell'epoca non dettero credito a queste voci, mettendo invece in evidenza la passione traboccante del re per le donne.

Negli anni ottanta gli storici Jacqueline Boucher e Pierre Chevallier hanno contribuito a riabilitare l'immagine dell'ultimo sovrano della dinastia Valois. Chevallier ha confutato l'accusa di omosessualità di Enrico III, definendola «una leggenda ingiustificata e calunniosa» di cui si rideva persino nella cerchia del re, accusando Théodore Agrippa d'Aubigné di essere «il principale responsabile della leggenda dei mignon come si è perpetuata nella memoria collettiva».

Personalità del regno di Enrico III

Onorificenze

Nella cultura di massa

Letteratura
 Tre romanzi storici di Alexandre Dumas dedicati agli Ultimi Valois:
 La Regina Margot (1845)
 La dama di Monsoreau (1846)
 I Quarantacinque (1847)
 La Henriade di Voltaire

Cinema

Teatro
 Pierre Matthieu, La Guisiade (1589).

Ascendenza

Note

Bibliografia

Fonti primarie

Fonti secondarie
  (ed. or. 1982)

 Pierre Champion, La jeunesse d'Henri III, 2 tomes, Paris, B.Grasset, 1941-1942
 Pierre Champion, Henri III, roi de Pologne, Paris, B.Grasset, 1943-1951

 Jean- François Solnon, Henri III: un désir de majesté, Perrin, 2001

 Nuccio Ordine, Tre corone per un re. L'impresa di Enrico III e i suoi misteri, prefazione di Marc Fumaroli, Bompiani, Milano, 2016

Altri progetti

Collegamenti esterni

Enrico 03
Enrico 03
Enrico 3
Enrico 03
Enrico III di Francia
Reali assassinati
Capi di Stato assassinati
Morti pugnalati
Re di Francia
Re di Polonia
Enrico 03
Enrico 03


Originally the MMO was in LTTP-styled graphics, this unfinished sheet was contstructed for it but then not used. Might be useful for someone, maybe. Drawn by mitxela, however some of the clothing is based on Zelda: LTTP sprites.


text:
Q: Is $\int_0^1 d \lambda_t dt = d(\int_0^1 \lambda_t dt) ? $ Let $M$ be a smooth manifold. Let $\lambda_t$ be a  smooth family of differential forms (say of degree 1), where $t$ is a real parameter.
What can we say about the integral $\int_0^1 d \lambda_t dt $, where $d$ denotes the exterior differential ? Is it $d(\int_0^1 \lambda_t dt) $ ?

A: Yes, if one interprets everything appropriately. Saying $\lambda_t$ is a smooth family of differential forms wrt $t$ means that in every coordinate chart, we can write $\lambda_t=\sum_If_I(x,t)\,dx^I$, where $I=(i_1,\dots, i_k)$ is an increasing tuple, so explicitly, I mean $\lambda_t=\sum_If_{i_1\dots, i_k}(x,t)\,dx^{i_1}\wedge \cdots \wedge dx^{i_k}$, where we assume each $f_I$ is a smooth function on its domain (an open subset of $\Bbb{R}^{\dim M}\times \Bbb{R}$).
Because I'm a nitpicky individual, here are some remarks. Note that a-priori, just writing down the symbol $\int_0^1\lambda_t\,dt$ is meaningless, because for each $t\in [0,1]$, $\lambda_t$ is a $k$-form on $M$, so $\lambda$ is a mapping $[0,1]\to \Omega^k(M)$, and the latter is not a simple space (i.e a finite-dimensional real vector space, or a Banach space) to work with. I'm sure one can come up with theories of integration which deal with integrating maps with very general target spaces (eg topological vector spaces with perhaps some additional/fewer hypotheses blablabla). I'm not super well-versed in those matters, but at the end of the day, even if one does formulate such a theory properly (again, I'm not saying it can't be done, just that I don't have all the details), it has to boil down to the following:

By definition, $\omega:=\int_0^1\lambda_t\,dt$ shall mean the (a-priori not necessarily smooth) $k$-form on $M$, whose value at a point $p\in M$ and when evaluated on $k$-tangent vectors $v_1,\dots, v_k\in T_pM$ is $\omega_p(v_1,\dots, v_k):=\int_0^1(\lambda_t)_p(v_1,\dots, v_k)\,dt$.

i.e we are forcing in our definition that evaluation commutes with integrals.
Note that once we fix $p\in M$ and tangent vectors $v_1,\dots, v_k\in T_pM$, the integral $\int_0^1(\lambda_t)_p(v_1,\dots, v_k)\,dt$ on the RHS is the integral of a smooth function $[0,1]\to\Bbb{R}$, which is a basic thing we learn about in elementary calculus. Now, because we defined things pointwise, everything we'd like to hold true, does indeed work out.
For instance, fix a coordinate chart on $M$, and label the coordinates as $x$. Write $\lambda_t=f_I(x,t)\,dx^I$ (where the sum is over increasing $k$-tuples $I$). Then,
\begin{align}
\omega:=\int_0^1\lambda_t\,dt&=\int_0^1(f_I(x,t)dx^I)\,dt=\left(\int_0^1f_I(x,t)\,dt\right)dx^I\tag{$*$}
\end{align}
(the last equal sign we pulled out the $dx^I$ from the integral because we defined things pointwise, and we essentially forced the evaluation to commute with integrals)
In words, $\omega$ is a $k$-form on $M$ whose local expression is $g_I(x)\,dx^I$, where $g_I(x)=\int_0^1f_I(x,t)\,dt$ is a smooth function on (an open subset of) $M$ (or rather the corresponding portion of $\Bbb{R}^n$ when we identify using coordinate charts) obtained by  integrating a smooth function of $(x,t)$ with respect to $t$. In particular, this shows $\omega$ is a smooth $k$-form on $M$.
So, putting it all together,
\begin{align}
d\omega&=\left[\frac{\partial}{\partial x^j}\left(\int_0^1f_I(x,t)\,dt\right)\right]\,\,dx^j\wedge dx^I\tag{from $*$}\\
&=\left(\int_0^1\frac{\partial f_I}{\partial x^j}(x,t)\,dt\right)\,dx^j\wedge dx^I\tag{Leibniz Integral Rule}\\
&=\int_0^1\left(\frac{\partial f_I}{\partial x^j}(x,t)\,dx^j\wedge dx^I\right)\,dt\\
&=\int_0^1(d\lambda_t)\,dt
\end{align}
So, to summarize, once we clarify the definition, the only thing left to do is write things out in local coordinates, and use Leibniz's integral rule in its most basic form (because here we're integrating smooth functions on the compact interval $[0,1]$ so we have all the regularity we need to exchange the partial derivative with the integral). Thus, the identity you're asking about holds.

redpajama_set_name: RedPajamaStackExchange


Any chance the guy that did the spreadsheet is around?
Well to be honest that is the least of your problems with this swap, the 2015 electronics are much different than your 2003.
Short of doing a standalone engine computer you will need to use not only the ECU (PCM) along with the instrument cluster, Body Control module and matching ignition keys in order for the the engine to start and run.
Your 2003 has no CANBUS networks, the 2015 uses HS1, HS2 and HS3 along with the MSCAN, all of which needs to be working or bypassed with a custom ECU program to get it up and running.
When I looked into this as a option for my 2004 I discovered that while entirely possible it simply wasn't worth all the effort and cost to make it work, I was working with the wiring diagrams for a 2011-2013 F150 to avoid the multiple HSCAN bus requirement, you still need HSCAN at minimum to make that work.
Another issue is the fact that the 2015 uses electronic/electrical power steering rack, there are kits out there to work around that issue. I know of a few swaps that they added the hydraulic power steering pump to the engine so that's not a show stopper but the lack of HSCAN functionality in the vehicle will make it more difficult though.
My swap is in a mustang, so it's a bit different than yours. But I maybe able to offer some help. There are two ways to get around PATS without having it functioning. There are serveral ppl offering a PATS delete service. You have to send them your PCM, and they flash it to delete pats. This service I've seen costing up to $250, search Ebay. I'm not familiar with the trucks and where the PATS module is located, but I've read ppl using the truck PCM in mustangs. From what I read, the hardware is the same and only the flash is different.
The second option is to run the "Coyote Control pack" strategy from Ford. This is what my tuner did for me, and then we tuned my car on his dyno. This strategy does not support cruise control or emissions just so you know. The last option to get around PATS is to actually get it working. I've got this in the process so I can have cruise and be able to pass smog..but that is another story.
As far as missing modules, I may have some good news for you. Ford PCMs don't care if modules are missing. I don't have ABS and I don't have any warning lights about it. I think if you do a "PCM reset all adaptations", the first time you fire it up, the PCM will learn what modules are there, and that will be it. But this is a guess on my part, as I have no first hand experience.
I was able to delete some of the warning lights last time I played with it.
I believe traction control has been defeated, just working on SRS and ABS at this point.
Gotcha! I do have some experience in that area too. I did a cluster swap to get 140 mph speedo, and I also have a 2013 cluster so I can have stock PATS and 160 mph speedo. (Got PATS working, but need additional wiring for fuel gauge.) I configured both clusters with Forscan to turn off traction control and ABS lights. It seems the warnings don't come from the PCM. I found everything I needed in the first line of "as-built" data of the instrument cluster. Just had to experiment till I found the right combo after saving the original data.


Trudy Love is used to being on her own and has rarely been shown affection. Between growing up in foster care and her abusive boyfriend she has no idea what life can be. At 19 she goes through something no one should ever experience and is left alone once again. Six months later she moves to Mobile, Alabama where she meets someone whose eyes bring back memories of the one person she misses everyday. Too late she finds herself caught in a storm of emotions that are unwanted, but she's determined to fight them off.
Jaxon Coleman has a good life, and for him to attend one of the finest Med schools in the country and follow in his dad's foot steps is a dream come true. However, dreams can change in life and when he meets Trudy he knows his will never be the same. Jax knows she has secrets she is unwilling to share, but he's never given up on something he wants and he wants Tru. Can Trudy stop resisting her feelings and welcome the chance to live a different life than she pictured or will her defiance and haunted past eventually take her out of Jax's reach?
I originally bought this book in paperback so I could take it to a signing in July to get it signed by the lovely R.D. Cole herself. I never read the synopsis, so when I picked it up to read it for a blog tour, I was blown away! Now when I get it signed, it'll mean that much more to be, because this book was flipping fantastic!
Trudy Love was raised in different foster homes all her life. She never felt loved, except when she was with Ms. Freeman for a few years.
When she turned eighteen, she was kicked out of the system, since she no longer brought in money. Devastated and nowhere to go, Trudy moves in with her boyfriend, Brad. Everything is fine and good, and she even becomes pregnant. Then, the abuse starts to get worse. One day, all goes wrong and she loses her baby.
Trudy is offered a scholarship at the University of Southern Alabama. She eagerly takes it, happy to be away from her old life. She meets Jaxon and Jasmine Coleman, brother and sister. Jasmine and Trudy become fast friends, while it takes longer for Jaxon to get on Trudy's good side. Soon Jaxon and Trudy let their feelings for each other take over. But one night, her past comes back to haunt her. Will Jaxon be there in time to save her?
Let me just say this, I read this book in about twenty-four hours. I also complained to my friends about the b***h of an ex-girlfriend that Jaxon has. R.D. Cole had the ability to make me cry one minute (the prologue, OH THE PROLOGUE HAD ME IN TEARS!!!!) and then screaming the next (oh god, I will kill Ashton (Jax's ex)).
Other than minor grammar errors, which I know that she knows about and is getting fixed, this book was phenomenal. I heard a lot about it, but never got around to reading it. I hate I waited so long.
There is definitely a true love between Jaxon and Trudy. Their connection is undeniable and R.D. does an excellent job of having that come across.
mouth agape as you think "WHAT DID SHE JUST SAY?!" Thankfully, the second book, which follows Jazz and Jaxon's friend Mason, Learning to Heal, is already out. I am already far into that book, and I have not been disappointed with that one either.
Keep up the good work, R.D. Cole! You have some amazing talent! Five stars from me!
My name is Robin and I live in Alabama. I grew up an army brat and traveled a lot until we finally settled down along the Gulf Coast when I was 4. My husband is 9 years younger so I guess that makes me a COUGAR. I have a little girl who is 9 and is blind as well as autistic. My life is not boring with them two in it. Believe me. I have always loved creating and I would constantly draw on my walls. I love painting and reading. Writing is something I wanted to do but didn't think I could, until I woke up at three a.m. a few months back and started writing. Life has a way of throwing rocks at you and putting cracks in your soul. Either you can duck and cover or you can make something beautiful from the cracks.After that, the story took over. Even though some pieces of my life experience are within it, it is Tru and Jax's story now. I have truly fell in love with this story and hope you all do too.


The New Construction Service provides education, financial incentives and technical assistance to help building owners and design teams exceed the energy efficiency standards set by Illinois building codes. ComEd launched the program in 2009 and selected the Energy Center of Wisconsin to implement the program. Nicor Gas joined the program in 2011. Together, ComEd and Nicor Gas have developed an integrated, joint approach to support long-term energy savings objectives. The program offers customized design expertise and incentives to transform the commercial building design market and inspire greater investment in energy efficiency.


Wedding ceremonies containing no mention of God are referred to as "non-religious". They are, in most other ways, similar to non-denominational wedding ceremonies; though they may present a broader range of non-traditional designs. The example shown here is "short and sweet". We can personalize it to suit you.


text:
Carbon Design Technologies Evo IX
Материал с буржуйского сайта. Кто знает английский - втыкайте, кто не знает - смотрите пикчи и надейтесь, что когда-нибудь будет перевод.
High Strength Export
You'd expect a tech fest like the Carbon Design Technologies Evo IX to live in a cave on the outskirts of Tokyo, feeding on raw flesh and emerging weekly like Monkey, Pigsy, and Sandy to vanquish evil demons in a clumsy yet charming fashion. But it doesn't, it comes from Liechtenstein, which boasts just 35,000 inhabitants, covers just 160km2 and counts dental equipment among its chief exports. No global superpower, then, but this car, on one stage at least, could change all that.
Honed on the ferocious World Rally Championship stage, the Mitsubish Evo IX has become an icon, famed for cornering ability that leaves the Japanese bullet train shamefaced, admitting its failure and chopping its finger off. But of course every road car, especially those in this price band, are a compromise, and CDT has tweaked the handling, boosted the power and done just about everything else.
K&W's threaded and fully adjustable suspension, dropped almost to the deck for our test, joins up with beefy Cusco anti-rollbars on the front and rear. Lightweight 18x9" alloys from Volk Racing, the top end brand of giant Rays Engineering, and Pirelli P-Zero Corsas provide a turn-in so sharp it could cut the floor. It's an aggressive, track-bound set-up that would shatter bones on a gravel drive, but on the road it's unbelievable.
So good, in fact, that CDT felt we couldn't truly appreciate this handling and so employed the services of a test driver who works with the likes of Bentley on new model development to show us the extent of its skills.
And on the 300-metre handling course on Hockenheim Circuit soaked by the water jets, even he could manage just three lurid powerslides before some heat got into the rubber and the car just refused to budge from the line. Even that brief flirtation with sideways fun took a full-on Scandinavian flick to induce and opposite lock wasn't a factor, this machine steered on the throttle.
They were right, journalists would have looked like flailing muppets as we tried and failed to loosen the rear end. There's almost too much grip and that explains why this car would murder most supercars in the wet, the dry too to be fair. At the Oschersleben circuit in a recent shoot-out carried out by German magazine Auto Bild Sportscars, the CDT Evo IX wasn't just the fastest saloon, it even beat TechArt's overblown 911 Turbo.
Lots of modern cars require relatively little skill to drive fast, but this car sticks like Velcro so even the Burberry-clad youngsters without the brains to imagine the consequence of heading into a bend too fast shouldn't come to any harm. It is devastatingly quick and would make a mockery of many a supercar, though it might not be the most fun until you're well outside the remit of the law and that's more or less the only fault I could find with the car.
http://www.japanesecarfans.com/featu...01.mini13L.jpg
Awesome traction off the line and blinding straight-line acceleration are another Evo trademark, and this one goes even further. Not only will it hit 60mph in 4.6s, this car will nail the quarter-mile in 12.95s, less than half a second behind the Ferrari F430 that costs more than double the €62,275 that will get you behind the wheel of this beast.
Chip tuning adds most of the power, that and a new 'Super Dragger' exhaust from legendary Mitsubishi tuner HKS's locker that doesn't just boost the output, it also turns the turbocharged flat four's burbling fart into an altogether more seductive noise – purely through volume. The Evo isn't the sexiest sounding car in the world, but aficionados hear it a mile off and wait with thumbs up, like the local retard waiting to wave at the school bus.
Ram Air, a much-underused form of forced induction, also joins the fray to give that fraction extra power at high speeds and drag a few extra MPH out of the car in a straight line.
And all of that helps produce a terminal velocity of 170mph, and there are so few occasions in this world when more is required that it becomes a non-issue. Anything outside of the elite supercar class won't even come close and all that speed comes despite the aerodynamic finesse of a house, too. The Evo IX just shouldn't be able to break air this fast.
World Rally Cars rarely go beyond 140mph, what they need is traction and downforce, and the wings, various appendages and entire philosophy of the car is built with grip in all its varied forms in mind. A rally car can live without massive pace, without grip it is dead in the water and the various complexities of homologation mean that the basic form of the Evo IX has been dictated by rallying success.
But this is a road car, so CDT went to work on the aero side, providing a new front spoiler to sweep the air to the side and lower the ground clearance. It still comes with 390kg of downforce, a phenomenal amount, and its lighter too thanks to a carbon-fibre bonnet and boot. These new parts take weight from high up in the body, and they look damned cool – which may well be the point.
Braking was always a rally pre-requisite, but again it has gone to the next level in this particular instance with a set of six-piston Rotora calipers clamping on to 355mm discs on the front and four—piston units biting down on 330mm rears. When the whole car weighs just 1435kg, less than the great slabs of carbon-fibre and steel like the Lamborghini Murcielago, that's plenty.
And the truth of the matter is this car would wipe the floor with the Murci, the F430, just about anything you care to put in its path. Yes, like Monkey himself, it's not the prettiest super hero in the world, in fact it looks like its angered the Gods, but when you're wiping the floor with supercars without even touching opposite lock, its easy to see the cult appeal.
CDT has taken the Evo to a whole new level of on-track performance and if they continue to produce dream machines like this, could just knock dentist's drills off the top of the export list.
Спеки машины (на немецком )...
Телеметрия (справа сравнение с другими тестовыми машинками)...
« Аэрография | Subaru WRX STi 2006 от Valvoline »
Глушитель Carbon IvanBH Тюнинг 9 22.06.2005 16:42


text:
Best Web OpEds 4/1/2016 at 10:18 PM EDT H3'ed 4/1/16
Paul Krugman: Learning From Obama
(Image by david_shankbone) Details DMCA
At the end of 2015 Mr. Obama was still underwater, with significantly more Americans disapproving than approving. Since then, however, his approval has risen sharply while disapproval has plunged. He's still only in modestly positive territory, but the net movement in polling averages has been about 11 percentage points, which is a lot. It's hard for many people on both sides to wrap their minds around the notion of Obama-as-success. On the left, those caught up in the enthusiasms of 2008 feel let down by the prosaic reality of governing in a deeply polarized political system. Meanwhile, conservative ideology predicts disaster from any attempt to tax the rich, help the less fortunate and rein in the excesses of the market; and what are you going to believe, the ideology or your own lying eyes?
At www.nytimes.com
Related Topic(s): Approval; Obama; Obama Effect; Paul Krugman, Add Tags
"Rob Kall has been in on the modern bottom-up revolution from the ground floor. While the last two years have put the dangers of social media and connectivity at the forefront of our national debate, Rob Kall knows as well as anybody the infinite positive potential of our new world."
Jesse Lee, former White House Director of Rapid Response and Social Media Director for Speaker of the House, Nancy Pelosi


text:
Yellowstone TV
American Entertainment
'Yellowstone' Fans Still Can't Get Over John and...
Tailgate by The River: How Kenny Chesney and...
Tonga Eruption Was So Loud It Reportedly Left...
Bob Saget's Widow Breaks Down Remembering Late Comedian
Dog Tags Belonging to North Carolina WWII Veteran...
'Ozark' Season 4: Where We Left Jason Bateman's...
WWII Veteran Gets Surprise Birthday Parade in His...
New Ruling in Death of Mother and Child...
'NCIS' Alum Pauley Perrette Remembers Her Father in...
Tonga Eruption: Man Treaded Water for 27 Hours...
'Chicago Fire' Is Bringing Back One Event to...
'Wallace & Gromit' Makes Its Epic Return in...
'Law & Order: SVU': Mariska Hargitay and Jason Biggs Catch Up in New Set Photos
by Allison Hambrick January 6, 2022
written by Allison Hambrick January 6, 2022
The upcoming episode of Law & Order: SVU sees the return of a major character and the introduction of a new face, played by Jason Biggs. The American Pie alum will play Detective Andy Parlato-Goldstein.
While few details have been revealed about his character, new photos emerged from the set. Biggs shares scenes with series regulars Mariska Hargitay, Ice-T, and Kelli Giddish. Also featured in the photos is Donal Logue, who returns to the show after appearing from 2014 to 2015. Initially, Logue received an offer to become a series regular, but he accepted a role on Gotham.
The synopsis for the episode reads: "The Special Victims Unit is called in to help investigate a wave of hate crimes on Christmas Eve. Rollins catches up with an old flame." The old flame is Logue's character, Declan Murphy, who is the father to the oldest child of Giddish's Detective Rollins. In the years since he left SVU, the character became captain of his own unit.
More specifically, Murphy heads up the Hate Crimes Division. Parlato-Goldstein works alongside him to solve these hate crimes. How the SVU will factor in remains to be seen.
"The juxtaposition of the Christmas season with what is happening in New York raises the stakes," said Logue in an interview. As for the personal stakes of the episode, Logue said that Murphy's return cold spell trouble for Rollins's new relationship with Dominick Carisi, played by Peter Scanavino.
"I won't give anything away," Logue continued. "But I don't think there is a parent or child that doesn't mourn loss or absence."
Peter Scanavino Talks Law & Order: SVU Relationship
As for Scanavino, he said Carisi doesn't have much to worry about. Rollins and Carisi shared a kiss in the season 22 finale, after a few seasons of mounting romantic tensions.
"I like the direction that they went in," Scanavino said. "It didn't feel forced to me. It felt very earned. So, yeah, I mean that was kind of my reaction. It was excitement, because it's also character development, as well. It's them throwing you a bone, and it's something that you get to focus on, you know, in the relationship outside of the squad. It just makes things more interesting, more dangerous, in a way. Like, there's all kinds of implications with this relationship. So, I was happy about it."
So while fans may worry that Murphy will ruin things for Carisi and Rollins, Scanavino said their relationship is stronger than that.
"You know I think he's probably pretty secure in the relationship, because I do think it's not something that they're taking very lightly," said Scanavino. "They've been able to keep this going. Given their two jobs, they've got to be very forthright with it, express and talk to each other and communicate, and I don't think he thinks this is a tenuous thing in terms of the feelings involved."
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text:
Q: Backup software that allows to synchronize modified documents between two computers?
Possible Duplicate:
Synchronize Laptop and Desktop

I have two computers running on windows, one at work and one at home, I take a copy of the documents that I work on to home and keep working on them when I'm home. So my problem is that I need a software to backup these documents for me on my external hard at the end of the day at work and when I take it home I can synchronize my documents with it, so I'll have the same modifications on my documents at home as I have done at work.
appreciate any help.

A: Unison
But there must be an existing identical Q  ...

A: Synctoy if you want to keep two distinct file stores.
But also consider using free cloud storage, such as Dropbox, Skydrive or Google Drive. If you can install these at work (not always possible), they seem a more seamless option.


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At EmpoweredPAs, we encourage professional growth and empowering PAs to succeed in all stages of their profession. Check out the EmpoweredPAs Articles to find some great articles about other PAs, evidence-based practice, PA Leadership and so many other topics. Look around, there are plenty of PA Resources for each phase of your career. There are some great articles and posts coming soon, so check back later or follow us on social media links below, sign up to our email list. To learn more, check out about me.


SkyWatcher telescopes have the widest range from quality affordable starter models, WiFi telescopes to 20" goto computerised Dobsonians. Call the UK SkyWatcher telescope experts on 01322 403407 or Email with any questions. or browse the full range below. Authorised SkyWatcher UK dealer since 2009.


LVM is used to create logical partition that can span data between multiple physical hard disks. Online LV and VG resizing, raid volumes, mirror and strip are some features of LVM. A well documentation about LVM can be find in Logical Volume Manager (Linux) .
The follow image describe very well what is the relationship between LVM components.
- Physical driver are divided into Partitions.
- Physical Volumes are made from Partitions.
- Volumes Groups contains Partitions.
- Volumes Groups are divided into Logical Volumes.
- And Logical Volumes are base to File Systems.
Use fdisk -l to list the Psysical Drivers available to use. (the command bellow is truncated).
Use fdisk to create a disk partition.
Building a new DOS disklabel with disk identifier 0xd968e05e.
Use pvcreate to create physical volumes. This will associate the physical partition we made before to a Psysical Volume.
We can use vgcreate to create the volume group. A single volume group can contain one or more physical volume. The command bellow creates a VG called oracle_vg with two physical volumes /dev/sdb1 and /dev/sdc1.
The vgdisplay can be used to list all VG and VG attributes in OS.
The follow command (lvcreate) can be used to create a LV called ora_home_lv with 12G.


text:
Registration, reporting and liability for derivatives transactions in United Kingdom
CMS Cameron McKenna Nabarro Olswang LLP
United Kingdom July 4 2019
Liability and enforcement
Territorial scope of regulations
What is the territorial scope of the laws and regulations governing listed, cleared and uncleared equity derivatives transactions?
The various corporate regulatory and listing rules would apply to counterparties regardless of their jurisdiction.
The obligations under EMIR may extend to OTC derivatives contracts even where both counterparties are established outside of the EU - in particular if a contract has 'a direct, substantial and foreseeable effect' within the EU or compliance with EMIR is necessary or appropriate to prevent evasion of EMIR. If only one counterparty is inside the EU, in practice the second counterparty would also need to comply with EMIR in order to permit the counterparty inside the EU to meet its own EMIR requirements.
Registration and authorisation requirements
What registration or authorisation requirements apply to market participants that deal or invest in equity derivatives, and what are the implications of registration?
Market participants that engage in the regulated activity of 'dealing in investments', including equity derivatives, by way of business in the UK are subject to authorisation by the competent regulator(s) (unless they can rely on an exclusion or exemption). Market participants that are so authorised are subject to the rules and regulations (eg, in relation to conduct of business, standards of market conduct, systems and controls) as are applicable and set out in the relevant rule books (the PRA Rulebook or the FCA Handbook). A rule breach may result in regulatory enforcement action, including fines, public censure and, in extreme cases, withdrawal of the authorisation.
What reporting requirements apply to market participants that deal or invest in equity derivatives?
Under MiFID II/MiFIR, market participants executing transactions in certain financial instruments (including, eg, OTC derivatives where only the underlying is traded on a trading venue) are required to report such transactions to the FCA for market surveillance purposes. Market participants may directly report to the FCA or choose to report through an approved reporting mechanism (or through the trading venue where the transaction was completed. MiFID II/MiFIR also extend pre- and post-trade transparency requirements, which will be relevant to market participants in certain scenarios. Waivers and exclusions may be available for example with regard to transactions in instruments for which there is no liquid market or that are large in scale or above the size specific to the financial instrument in question.
In addition to the above, there are general derivatives reporting requirements under EMIR, but these are not specific to equity derivatives.
What legal issues arise in the design and issuance of structured products linked to an unaffiliated third party's shares or to a basket or index of third-party shares? What additional disclosure and other legal issues arise if the structured product is linked to a proprietary index?
To design and issue structured products (ie, securitised derivatives) that are subsequently sold, an entity may be required to be authorised by the FCA or the PRA. The rules are more onerous if the securities are being offered to the retail market or if they are listed.
If the product manufacturer is involved in marketing the product, then the entity may also need to be authorised under the FSMA. The product manufacturer or distributor, or both may also be subject to the FCA's MiFID II/MiFIR-derived Product Governance and Conduct of Business rules.
If securities are admitted to trading on a regulated market or offered to the public, then a prospectus may need to be prepared that is compliant with the Prospectus Directive (2003/71/EC). For retail structured products, a product manufacturer will also need to prepare a key information document that is compliant with the Packaged Retail and Insurance-based Investment Products Regulation (Regulation No. 1286/2014), providing details of the structured product in an easy to understand form.
If the structured product is linked to a proprietary index and the product is traded on a trading venue or via a systematic internaliser, the product manufacturer should also pay due regard to the Benchmarks Regulation (Regulation No. 1011/2016) (BMR), which regulates the provision and use of benchmarks, as well as the contribution of input data to benchmarks. In this context, 'use of a benchmark' includes issuance of a financial instrument that references an index or a combination of indices, or determination of the amount payable under a financial instrument by referencing an index or a combination of indices. The BMR only applies to financial instruments that are traded on a trading venue (or in respect of which a request for admission has been made) or via a systematic internaliser, as well as certain credit agreements and investment funds.
The FCA's MiFID II/MiFIR-derived Product Governance rules require manufacturers and distributors to have a proper product approval process in place and, among other things, to:
identify with sufficient granularity a target market with the end client in mind;
ensure that the product is designed to meet the needs of the identified target market;
ensure that the distribution strategy is compatible with the target market; and
keep the product under review so that it continues to meet all relevant requirements.
Further, the FCA has conducted thematic reviews of the appropriateness of structured products for investors and is generally interested in this area.
Liability regime
Describe the liability regime related to the issuance of structured products.
There is a range of statutes containing provisions relating to misleading statements made in offering documentation. There may also be additional common law liability. The relevant statutes include the following:
The Fraud Act 2006 provides that fraud will be a criminal offence, and this includes dishonestly making a false representation with an intention of making a gain or causing a loss, and dishonestly failing to disclose information where there is a duty to disclose it (with an intention of making a gain or causing a loss).
Section 89 of the Financial Services Act 2012 provides that it is a criminal offence to make statements that are false or misleading in a material respect, while section 90 contains prohibitions on giving misleading impressions.
The FSMA sets out penalties for failing to comply with the Prospectus Directive, and also details penalties for market abuse (in contravention of MAR) more generally.
What registration, disclosure, tax and other legal issues arise when an issuer sells a security that is convertible for shares of the same issuer?
In relation to a new issue of convertible securities, the issuer will need to ensure that it has authority under the Companies Act 2006 to allot the convertible securities. It should also consider whether pre-emption rights need to be disapplied before the issue. Unless an exemption applies, an FCA-approved prospectus will be required if the issue of new convertible securities constitutes an offer to the public; the convertible securities themselves will be admitted to a regulated exchange; or the underlying shares to be issued on conversion will be admitted to a regulated exchange (unless they are of the same class as those already admitted to trading).
In addition, applicable UK listing rules would need to be complied with.
A subscription agreement and a trust deed may also be required in connection with the issue of a convertible security.
In respect of any transfer of convertible securities issued by a UK company, SDRT will generally be payable by the purchaser on acquisition (see question 12).
What registration, disclosure, tax and other legal issues arise when an issuer sells a security that is exchangeable for shares of a third party? Does it matter whether the third party is an affiliate of the issuer?
The considerations applicable to an issue of exchangeable securities are broadly similar to those noted in question 31 in relation to the issue of convertible securities. As the key difference with an exchangeable security is that on settlement the shares to be provided to the counterparty are shares in a third party (and not the issuer of the exchangeable securities itself), if the issuer does not already hold those third-party shares, the counterparty will need to be satisfied that the issuer is able to fulfil its obligation to provide the underlying third party shares on exercise in accordance with the terms of the derivatives contract.
In respect of any transfer of exchangeable securities issued by a UK company or issued by a non-UK company, but exchangeable for shares in a UK company, SDRT will generally be payable by the purchaser on acquisition (see question 12).
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Posted on Last updated: December 1, 2020 Categories Flights, Travel, Travel News
By: Author Andrew Pope
New Proposed Bailout For U.S. Airlines Keeps 2021 Travel Hopes Alive
A proposed bipartisan COVID-19 relief bill, which would provide USD$17 billion in support for the beleaguered aviation sector, offers hope to US travelers planning vacations in 2021.
While the passage of the bill into law is not yet certain, the news provides a timely boost to US airlines, which have been placed under significant financial pressure due to a huge drop in passenger numbers since the pandemic. With federal assistance, airlines are much more likely to survive the next few months intact and be in a stronger position to offer full flight schedules to US travelers when normal service resumes.
Bipartisan Bill To Provide Much-Needed Support
A group of US senators including both Republicans and Democrats has devised a USD$908 billion COVID-19 federal assistance plan which they expect to receive widespread bipartisan support in Congress. The proposed bill represents the latest attempt to break a long political deadlock on measures to provide much-needed assistance for key sectors of the economy, including airlines which have been hit particularly hard by the travel restrictions introduced to control the pandemic.
Although the bill has not yet received support from the White House or President-Elect Joe Biden, it has received backing from senators across the aisle including Republicans Mitt Romney and Lisa Murkowski and Democrat Mark Warner. This has boosted the chances of it passing into law, and providing USD$17 billion for four months of payroll assistance needed to keep airlines functioning during the pandemic.
While no major US airlines have been forced out of business by the pandemic, all have been badly hit by the large reduction in air traffic, with passenger numbers down by around 60% since March. At least two regional airlines, Trans States Airlines and Compass Airlines, have declared bankruptcy, but others have been forced to tap financial markets and federal loans in order to stay afloat.
With losses mounting American Airlines and United Airlines were forced to furlough 32,000 workers in October after a previous federal payroll assistance program expired, highlighting the need for Congress to pass the new bill offering further support for the aviation industry.
Unless more federal assistance is provided, travelers could face more restricted options in terms of flights and reduced quality and availability of services. For example, if the airlines are forced to permanently shed workers this would restrict their operating capacity and make it more difficult to ramp up flight offerings once demand begins to increase again.
US Travelers Looking Forward To 2021
The proposed support for airlines means that US travelers can begin to look forward to vacations next year as the pandemic gets under control and travel returns to normal. Airlines have already been urging passengers to return to flying by highlighting their safety credentials and pioneering COVID-19 testing and quarantine-free international travel corridors.
While the Centre for Disease Control (CDC) continues to advise against non-essential travel at present, the rolling out of pre-flight COVID-19 testing programs, as well as potentially successful vaccination against the virus, offers hope that Americans will be able to return to pre-pandemic travel practices in the new year.
Americans can expect major airlines to continue offering a full flight schedule in 2021, allowing them to travel across the country and internationally. Southwest Airlines, based in Dallas Texas, has already announced an expanded flight program starting March 11 including new domestic services to Sarasota, Savannah and Honolulu as well as reinstating international flights to Los Cabos and Puerto Vallarta in Mexico.
Meanwhile American sun-seekers will welcome the news that United Airlines has expanded its services to Central America from December, including new nonstop flights between Los Angeles and San Jose, Costa Rica and San Pedro Sula, Honduras; between Denver and Belize City; between Washington D.C. and Santo Domingo, Dominican Republic, and between Liberia, Costa Rica and Los Angeles and San Francisco.
With airlines desperate to welcome back passengers and a combination of federal assistance and COVID-19 health screenings supporting a safe return to travel, American travelers can begin put the difficulties of 2020 behind them and look forward to vacationing again in the new year.
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Saturday 5th of December 2020
Let the government bailout those airliners. This will require printing more Fiat to keep the zombie economy alive, which in turn will make Bitcoin stronger.
Wednesday 2nd of December 2020
Just curious the take on this. Given that there should be widespread vaccination releases across industrialized nations, will more countries be opening up prior to vaccinations (Dec - March for some summer countries?) Or do you think what's open at the moment is more than likely going to be it and countries are going to stay closed until their own population is vaccinated?
Thursday 3rd of December 2020
Personally, I feel that it will take a long time for vaccines to allow countries to fully reopen for tourism again
Tuesday 1st of December 2020
Here's a thought: by accepting "bailouts" the airlines may be forced to do things like mandate masks and vaccines for passengers. I know many airlines are (or will) anyway, but this adds a whole other layer of control. Let them go bankrupt and let a real free market give us better options.
Excellent comment, Liberty. Precisely what I was thinking.
They should go bankrupt. Let them fail. The capital of those airlines would not go anywhere and would instead be purchased by multiple suitors if they were to go bankrupt. Instead the US is going to bail them out, prop them up, while the dollar is inflated to infinity.