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Netflix’s cheaper, ad-supported tier has reached 70 million global monthly active users two years after it was launched.

The company said Tuesday more than 50% of its new sign-ups are for ad-supported plans in countries that offer the option. Netflix said it continues “to see positive momentum and growth across all areas of the business,” adding it has seen “steady progress across all countries’ member bases.”

Netflix launched the option in November 2022 as one of its responses to a slowdown in subscriber growth.

Recently, subscriber growth hasn’t been an issue. Last month Netflix reported it added 5.1 million subscribers during the third quarter, beating Wall Street estimates. In total, Netflix counts 282.7 million memberships across all of its pricing tiers.

Beginning next year, Netflix said it will no longer update investors on its subscriber numbers as it shifts focus toward revenue and other financial metrics as performance indicators.

When Netflix launched its ad platform two years ago, the company said Nielsen would rate its content.

Netflix in May announced it would air two National Football League games on Christmas Day this year as part of a three-year deal. On Tuesday it said it sold out of its ad inventory for the two live games.

Netflix also said it’s brought on FanDuel and Verizon as advertisers for the games. FanDuel will become the exclusive pregame sportsbook betting partner, Netflix said, and will have a sponsored in-show feature.

Media companies have been focusing on ad-supported strategies for their streaming options that woo customers with cheaper plans and also offer advertising revenue that can help move the streaming businesses toward profitability. While the ad market has been slow for traditional TV, it has grown for streaming and digital businesses.

Netflix offered its last update on its ad-supported tier in May, when it said it reached 40 million global monthly active users, nearly doubling the figure it had shared in January. That announcement came during Upfronts, when media companies make their pitches to advertisers.

Netflix also announced in May it would launch its own advertising platform, ending a partnership with Microsoft for that technology. It’s rolled out the platform in Canada and plans to launch it in the U.S. by the end of the second quarter next year. It plans to set the platform live everywhere by the end of 2025.

This post appeared first on NBC NEWS

Elon Musk spent $44 billion to buy Twitter, now known as X, and at least $130 million to help get Donald Trump elected president.

It’s a combination that’s paid off handsomely. Since Trump’s victory last week, Musk is about $70 billion richer on paper.

Most of Musk’s wealth is wrapped up in his holdings of Tesla, and in the four trading days since the election, the electric vehicle maker’s stock has soared by about 39%. That’s lifted the company’s market cap well past $1 trillion.

Musk’s net worth has swelled to $320 billion, according to Forbes, putting him close to $90 billion ahead of Oracle founder Larry Ellison, the world’s second-richest person. Ellison, a close friend of Musk’s and a former Tesla board member, is a longtime Republican donor who’s seen his own Trump bump, with Oracle’s 10% increase lifting his net worth by about $20 billion.

For Musk, getting Trump back into the White House became another full-time job. He funded a swing-state operation to register right-leaning voters, and he led rallies as a surrogate for his favored candidate. He started $1 million giveaways to registered voters who signed one of his America PAC petitions, and he faced a lawsuit over running an illegal lottery in Pennsylvania.

Musk also used X, the social media platform he acquired in 2022, to constantly tout his support for Trump while frequently spreading misinformation about his opponent, Vice President Kamala Harris, as well as topics like immigration and voter fraud.

Now, Musk is trying to make sure he cashes in on his investments.

After the election last week, Musk briefly joined Trump’s phone call with Ukrainian President Volodymyr Zelenskyy, NBC News reported. Other outlets, including The New York Times and ABC, have reported that Musk has been weighing in on staffing decisions for the next administration, and he’s spent a lot of time since the election at Trump’s Mar-a-Lago resort in Florida. Brendan Carr, who is likely to be Trump’s choice to run the Federal Communications Commission, is seen as a longstanding Musk ally.

Musk ran a straw poll on X for his 200-million plus followers asking who should be Senate majority leader, and he’s personally endorsed Florida Republican Sen. Rick Scott for the position. He also reposted a comment from Trump about the need for the majority leader to support recess appointments for his nominees so they don’t need Senate confirmation.

“Without recess appointments, it will take two years or more to confirm the new administration!” Musk wrote.

Musk has long sought to reduce regulatory authority so that he can eliminate impediments to his sprawling business empire, which includes Tesla and X, as well as defense contractor SpaceX, artificial intelligence startup xAI, brain computer interface company Neuralink and tunneling venture Boring Co.

Those companies are currently embroiled in a range of probes and lawsuits from federal agencies pertaining to matters including alleged securities law violations, workplace safety, labor and civil rights violations, violations of federal environmental laws, consumer fraud and vehicle safety defects.

Given the executive branch’s outsized control over federal regulatory bodies, Musk can look forward to regulators and intelligence agencies winding down some or all of the 19 known ongoing federal investigations and lawsuits against Tesla, SpaceX and X.

“He’s got the golden touch right now and has the ear,” said Deepwater Asset Management’s Gene Munster, a longtime Tesla bull, in an interview with CNBC on Wednesday.

In addition to Tesla, SpaceX is also a “clear beneficiary” of a Trump presidency, Munster said. He added that xAI could be rewarded as the new administration considers AI regulations.

“I’m stretched to try to find out how this could play out negative for Elon,” Munster said.

Musk didn’t immediately respond to a request for comment.

Musk owns 411.06 million Tesla shares, as of the latest filings, and about 304 million performance-based options. In January, Judge Kathaleen McCormick of the Delaware Chancery Court voided Musk’s historic pay package from 2018 that included the options, calling it “unfathomable” in part because Musk controlled the board. Shareholders then voted in June to retroactively ratify the package. McCormick has said a final ruling on whether to restore Musk’s compensation will come soon.Musk and Ellison aren’t the only two billionaire tech executives to see a post-election windfall.

Coinbase CEO Brian Armstrong has added about $4.5 billion to his net worth since Trump’s victory. Coinbase shares soared 20% on Monday, bringing their gains since Tuesday to 67%.

The crypto exchange was a major contributor to pro-crypto candidates up and down the ballot, largely through a PAC called Fairshake. Most of its preferred candidates were victorious, setting the stage for the likelihood of a more favorable regulatory environment for the industry.

That’s a win for Tesla as well. At the end of the third quarter, the company reported “digital assets” with a fair value of $729 million. Cryptocurrencies have rallied since the election, with bitcoin jumping about 29% to a record of over $88,000 on Monday.

This post appeared first on NBC NEWS

In the days since President-elect Donald Trump won the presidential race, Nicole Bivens Collinson’s phone has barely stopped ringing.

Collinson, who helps lead the international trade and government relations division at the lobbying firm Sandler, Travis & Rosenberg, said she is fielding “dozens and dozens and dozens” of calls from anxious U.S. companies looking to protect themselves from Trump’s hardline tariff plans by finding loopholes and exemptions.

“Absolutely everyone is calling,” Collinson told CNBC. “It is nonstop.”

Over the course of the 2024 campaign, Trump made universal tariffs a core tenet of his economic platform, floating a 20% tax on all imports from all countries with a specifically harsh 60% rate for Chinese goods.

That hyper-protectionist trade approach sent chills up the spines of economists, Wall Street analysts and industry leaders who warned that across-the-board tariffs could make production — and in turn, consumer prices — more expensive, just as they were recovering from pandemic-era inflation spikes.

“The threat of tariffs has alarmed retailers and a wide range of other U.S. businesses,” David French, senior vice president of government relations at the National Retail Federation, told CNBC. “Our members have been working on contingency plans since President Trump secured the nomination.”

Ron Sorini, a principal at the lobbying firm Sorini, Samet & Associates, echoed that sentiment, noting that he takes at least two to three calls a day to field companies’ concerns about the proposed tariff ramp-up, especially in China.

″[Companies] question where they should go, and how do they get the components out [of China]? How do they get the whole supply chain out?” Sorini said.

When Trump unleashed his first set of China tariffs in 2018, securing an exemption became a golden ticket in corporate America, a way to safeguard a company’s China-based supply chains rather than paying the hefty price of relocation.

And to obtain that golden ticket, it paid to know the right people.

A 2021 research study found that applications for Trump’s first-term tariff exemptions were more likely to be approved when they came from lobbying firms whose employees had made political contributions to the Republican Party.

Now, with Trump set to retake the White House in a matter of weeks, tariff escalation is becoming a more likely reality.

And in corporate America, the race is on to find the right lobbyists to help companies rub shoulders with the right people, to give them an advantage in securing tariff loopholes.

“Firms are prepared,” SUNY Buffalo finance professor Veljko Fotak, one of the authors of the 2021 study, told CNBC. “The real winners of this process are going to be the lawyers and lobbyists.”

What tariffs will look like in the next Trump administration, and whether exemptions will be available at all, are both unknown.

“Until that clarity comes, businesses will have to plan for a variety of scenarios,” Tiffany Smith, vice president of global trade policy at the National Foreign Trade Council, told CNBC.

In response to CNBC’s request for comment about the Trump team’s plan for exemptions and companies’ concerns of the tariff proposals, Trump transition team spokeswoman Karoline Leavitt doubled down on the president-elect’s campaign promises.

“The American people re-elected President Trump by a resounding margin giving him a mandate to implement the promises he made on the campaign trail. He will deliver,” Leavitt told CNBC in a statement.

In the meantime, companies have been trying to set up defenses against Trump’s more aggressive trade approach. These include stockpiling goods in the short run, readying price hikes so they can pass the cost of import duties on to customers, and trying to move their production out of China.

On Thursday, Steve Madden pledged to reduce its Chinese imports by 45% over the next year in anticipation of Trump’s tariff plans.

But exiting China is a significant undertaking for many U.S. companies, especially small businesses that may not have the buying clout or leverage to move production so easily.

“What I would urge is that folks look at the impact on small businesses. Those are the people that are really getting hurt. There’s got to be some way to help companies like that,” Sorini of Sorini, Samet & Associates told CNBC. “Because they really can’t do it on their own.”

This post appeared first on NBC NEWS

Saudi Arabia’s Crown Prince Mohammed bin Salman has accused Israel of carrying out “collective genocide” in Gaza, in some of his strongest criticism of the country since the war began last year.

During a gathering of leaders of Islamic nations hosted by Saudi Arabia in Riyadh on Monday, the country’s de facto leader said: “The Kingdom reiterates its condemnation and absolute refusal of the collective genocide committed by Israel against the brotherly Palestinian people.”

The crown prince, widely known by his initials MBS, also defended Iran, in stark contrast to his comments in 2017 comparing the Iranian Supreme Leader Ayatollah Ali Khamenei to Adolf Hitler.

MBS urged the international community to “compel Israel to respect Iran’s sovereignty and not to attack (Iranian) territories.”

Saudi Arabia has recently signaled more political involvement and policy shifts in support of the Palestinians.

Last year the kingdom was in the process of negotiating a historic normalization agreement with Israel but recently said that was “off the table” without Palestinian statehood, a demand rejected by Israeli Prime Minister Benjamin Netanyahu.

Iran sent its First Vice President Mohammad Reza Aref to the Riyadh conference, who in his speech mourned the deaths of Hezbollah Secretary-General Hassan Nasrallah and Hamas leaders Ismail Haniyeh and Yahya Sinwar. Saudi Arabia strongly opposes Iran-backed militias such as Hezbollah and Hamas.

Riyadh and Tehran repaired ties last year after decades of animosity over regional influence.

Those attending the high-level meeting included Palestinian President Mahmoud Abbas, Lebanese caretaker Prime Minister Najib Mikati, Jordan’s King Abdullah II and Egyptian President Abdel Fattah el-Sisi.

Presidents Recep Tayyip Erdogan of Turkey and Bashar al-Assad of Syria, who were also at the meeting, remain embroiled in an ongoing conflict over Turkey’s military operations in northern Syria and its support for rebel groups.

The stated goal of Monday’s meeting was “unifying positions” and “exerting pressure” on the international community to take steps to end the “ongoing attacks and establish lasting peace,” in the region, Saudi’s governmental state agency said.

This post appeared first on cnn.com

Over the last decade, Afrobeats has become a global phenomenon, bringing African music into the Western mainstream. There’s now an Afrobeats category at the MTV Video Music Awards, and performers like Burna Boy and Wizkid can sell out major venues in the US and Europe.

While many African artists have been able to ride the wave of the genre’s international popularity, some musicians are now pushing for global recognition beyond its confines.

In recent years, popular music coming out of Africa has widely been classified as Afrobeats in the global soundscape, despite encompassing styles such as hip-hop, R&B, amapiano, dancehall, highlife, and more.

King Promise, whose sound blends R&B, highlife, and hip-hop, began releasing music in 2017 and rose to international fame in 2023 with his TikTok viral dance track “Terminator.” But the 29-year-old singer and songwriter doesn’t want to be boxed into a single sound.

“Afrobeats kind of serves as the umbrella which all of our music comes together (under),” he says. But he adds that the label has a crossover feel “to make it sound appealing not to just to people back home but to the rest of the world as well.”

“I don’t think that’s the best thing,” he argues.

“I make music that I love,” he explained. “If I feel like making R&B today, I make it. If I feel like making highlife I can make it. If I feel like making Afrobeats I can make it. It’s really about my direction.”

The roots of the Afrobeats genre can be traced back to Nigeria and music icon Fela Kuti, who is widely considered the architect of the similarly named genre, Afrobeat. Popularized in the 1970s, Afrobeat merged American jazz and funk with traditional Yoruba music. More recently, Afrobeat morphed into Afrobeats a looser label and catch all for all African music that took inspiration from the original Afrobeat sound.

Although King Promise understands the label from a marketing perspective in Western countries, he and other artists believe it robs them of their authenticity.

At the 2024 MTV Video Music Awards, South African Afropop and amapiano singer Tyla described her win for Best Afrobeats song “Water” as “bittersweet” in her acceptance speech.

“The global impact that ‘Water’ had on the world just proves that African music can be pop music too,” she said.

She added, “There’s a tendency to group all African artists under Afrobeats; it’s a thing, and even though Afrobeats has run things and has opened so many doors for us, African music is so diverse. It’s more than just Afrobeats.”

Nigerian superstars including Davido, Tems, Wizkid, and Burna Boy, have publicly distanced their music from the term Afrobeats.

Wizkid even took to social media in March to say that labeling his music Afrobeats was “ like saying every American artist makes rap.”

“It’s almost like artists are being stifled”

“Here you will get put into the same crowd (Afrobeats), so the more street type of song is in the same crowd with someone that sings Afrosoul.”

She added the Afrobeats label makes no distinction between genres or sounds, leading to audiences to expect everyone to sound the same.

“It’s almost like artists are being stifled,” Simi explained.

“You have to be a certain kind of artist before people respect you or give you the kind of accolades that you know you deserve.

“Someone like Adele is not having this kind of struggle.”

King Promise argues that although the Afrobeats sound has evolved over the years with the fusion of new sounds, the foundational element of the music remains the same: African tradition music. He says that will remain a mainstay in popular music.

“Just like we have hip-hop that stood the test of time, Afrobeats as a representation of our music as Africans on a global scale, it’s locking horns with the biggest, standing its ground, and it’s only getting better,” he said.

This post appeared first on cnn.com

Germany is set to hold a snap election on February 23 after an agreement was reached among parties in the country’s fractured parliament on Tuesday, according to reports from public broadcaster ARD.

Last week, Germany’s governing coalition collapsed after disagreements over the country’s weak economy led Chancellor Olaf Scholz to sack his finance minister, leaving him in a minority government with the Green Party.

The exact date for an election needs to be confirmed by the president, but only following a vote of confidence that Scholz must call.

The confidence vote will be held on December 16 following an agreement from all parliamentary parties, according to ARD.

German President Frank-Walter Steinmeier needs to rubber-stamp the date of the election, but reports suggest this is a formality. Steinmeier said at an unrelated event in Berlin on Tuesday that “our country needs a government that is capable of taking action.”

“That is why we must not lose any time now. We must find answers to the question of how we can make our state better able to act,” Steinmeier added.

The greater clarity on a date for elections, originally due to be held in September 2025, comes just a week after Scholz’s government coalition fell apart as he fired his finance minister, Christian Lindner, following a major disagreement on Germany’s economic future.

Scholz initially announced that he planned to hold a confidence vote on January 15, but he came under immediate pressure from the Christian Democratic Union of Germany (CDU) opposition party to hold them earlier.

Friedrich Merz, leader of the CDU, said last week, “there is absolutely no reason to wait until January” to call the confidence vote.

Scholz’s position on the date seemed to shift over the weekend. On Friday, he tweeted that he would “like to facilitate new elections as soon as possible.” Then, on Sunday evening, he told German TV that he would be willing to call the confidence vote before Christmas.

Scholz is currently leading a minority government with the Greens. His government has grown increasingly unpopular in Germany, with Scholz also one of the least popular chancellors ever, according to a September opinion poll.

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Archbishop of Canterbury Justin Welby, the most senior leader in the Church of England, has resigned over his handling of a child abuse case, according to his official account.

“Having sought the gracious permission of His Majesty The King, I have decided to resign as Archbishop of Canterbury,” Welby said in a statement on Tuesday.

Pressure had been mounting on Welby in recent days, following an independent review into “sickening abuse” committed by John Smyth, a deceased British lawyer considered the worst serial abuser linked to the Church of England.

The incriminating report, commissioned by the church and released November 7, tracked a “worrying pattern of deference” to Smyth, concluding that “a serious crime was covered up.”

In Welby’s resignation statement, he said the review “has exposed the long-maintained conspiracy of silence about the heinous abuses of John Smyth.”

“When I was informed in 2013 and told that police had been notified, I believed wrongly that an appropriate resolution would follow,” Welby added. “It is very clear that I must take personal and institutional responsibility for the long and retraumatising period between 2013 and 2024.”

It is unclear when Welby will leave his post. In his resignation statement, he said: “exact timings will be decided once a review of necessary obligations has been completed, including those in England and in the Anglican Communion.”

Summer camps

Smyth perpetrated “traumatic physical, sexual, psychological and spiritual attacks” on as many as 130 boys and young men, with abuse spanning from the 1970s up until his death, in 2018 – according to the Makin Review.

He was accused of abusing his own family members, as well as attendees of evangelical Christian summer camps he helped run for students from Britain’s prestigious private colleges in the 1970s and 1980s.

From 1984 to 2001, when Smyth relocated to Zimbabwe and then South Africa, church officers “knew of the abuse and failed to take the steps necessary to prevent further abuse occurring,” the report added. Welby worked at the summer camps that Smyth helped run. The pair exchanged Christmas cards and Welby donated small sums of money to his “missions” in Zimbabwe.

In 2017, Channel 4 News reported on Smyth’s abuse. After the publication of the independent review earlier this month, Welby told the network he “did not” ensure the allegations were pursued as “energetically” and “remorselessly” as they should have been, when he rose to the highest rank in the church, in 2013. He was first ordained as a priest in 1993.

The church’s review found that there was a “missed opportunity” in 2012 and 2013 by the highest levels of the church to “properly” report him to law enforcement.

The review said that “it is not possible to establish whether Justin Welby knew of the severity of the abuses in the UK prior to 2013,” adding: “It is most probable that he would have had at least a level of knowledge that John Smyth was of some concern.”

The Bishop of Newcastle was the most high-ranking church official to call for Welby’s resignation. On Monday, Helen-Ann Hartley told the BBC that it would be untenable for members of the clergy to “have a moral voice… when we cannot get our own house in order.”

Throughout his tenure, Welby has demanded accountability from those accused of mishandling abuse, including his predecessor, George Carey, and the former Bishop of Lincoln. Until now, there’s been no historical precedent for an Archbishop of Canterbury resigning over child abuse.

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A doctor accused of criticizing the war in Ukraine in front of a patient was convicted Tuesday of spreading false information about the Russian military and sentenced to 5 and a half years in prison, part of an unrelenting Kremlin crackdown on dissent.

Dr. Nadezhda Buyanova, 68, was arrested in February after Anastasia Akinshina, the mother of one of her patients, reported the pediatrician to authorities. Akinshina alleged that Buyanova told her and her son that his father, a Russian soldier who apparently was killed in Ukraine, was a legitimate target for Kyiv’s troops and had blamed Moscow for the war.

A video of the outraged Akinshina complaining about Buyanova was widely publicized, and chief of Russia’s Investigative Committee Alexander Bastrykin personally demanded a criminal case be brought against the doctor.

Buyanova, who was born in western Ukraine, denied the accusation, insisting she never said what she was accused of saying. In a tearful closing statement to the court last week, she had urged it to acquit her.

Her defense argued the prosecution failed to present evidence that the purported conversation took place, including any recordings of it, and alleged that her accuser fabricated the story out of animosity toward Ukrainians, according to the independent news site Mediazona, which reported all of the hearings in the trial.

In her closing statement to the court, Buyanova said it was “painful” to read the accusations in the indictment, and broke down.

“A doctor, especially a pediatrician, is not capable of wishing harm to a child, his mother, or traumatizing the child’s psyche. Only a monster is capable of this – and of the words that I allegedly said to them,” Mediazona quoted her as saying.

Buyanova’s case drew national attention, with more than 6,500 people signing an online petition demanding her freedom and supporters regularly attending court hearings. As the judge read out the verdict, they shouted, “Disgrace!” before bailiffs escorted everyone from the courtroom.

Her lawyer, Oscar Cherdzhyev, told reporters afterward that the verdict was “unexpectedly harsh” and “monstrously cruel.”

“We didn’t expect this,” he said.

“Spreading false information” about the army has been a criminal offense since March 2022, when Russia adopted a series of laws prohibiting any public expression about the invasion that deviated from the official narrative. Authorities started actively using them against critics and protesters.

According to OVD-Info, one of Russia’s leading rights groups that tracks political arrests, more than 1,000 people have been implicated in criminal cases on charges related to speaking or acting out against the war.

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At least 15 people have been killed and 14 injured in clashes between inmates at one of Ecuador’s largest and most notorious prisons, local authorities say.

The violence broke out early Tuesday in one of the pavilions at Litoral Penitentiary in the coastal city of Guayaquil, according to national prison agency SNAI.

Both Guayaquil, Ecuador’s largest city, and the prison itself are notorious for violent confrontations between rival gangs.

By Tuesday afternoon, authorities said they had managed to regain control of the prison and carried out a large-scale search.

Murder charges will be filed against at least nine inmates, the Attorney General’s Office said.

Ecuador’s prison system has long been the main theater of violence in the country, with hundreds of inmates killed in recent years as members of competing criminal organizations square off.

Security forces have often struggled to confront the gangs inside the overcrowded facilities, where inmates have been known to take control of branches of the penitentiaries and run criminal networks from behind bars, according to Ecuadorian authorities.

This is just the latest violent episode at Litoral Penitentiary, which has seen riots and massacres in recent years and is widely considered the country’s most dangerous prison.

Last year, more than 30 people were killed, some of them beheaded, during a multi-day uprising at the prison, while in September 2021, clashes between rival gangs left more than 100 people dead.

Two months ago, the penitentiary’s director María Daniela Icaza was killed in an armed attack while she was driving home.

Litoral Penitentiary is among five facilities that make up a major prison complex in Guayaquil.

In January, notorious gang leader José Adolfo “Fito” Macías escaped from one of those facilities, in a jailbreak that kicked off a wave of violence across the country.

Following the escape, President Daniel Noboa declared a state of emergency, deploying the armed forces across the country to crack down on gangs and criminal groups.

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The Princess of Wales will host her annual Christmas carol concert on December 6, with a focus on “how much we need each other, especially in the most difficult times of our lives,” Kensington Palace has announced.

It will be the princess’ fourth “Together at Christmas” carol service at Westminster Abbey and it will broadcast in the United Kingdom on Christmas Eve.

Catherine began the festive tradition in 2021, surprising British television viewers with a piano performance of “For Those Who Can’t Be Here” with Scottish singer-songwriter Tom Walker, recognizing the impact of the pandemic.

Linked to the prince and princess’s Royal Foundation charity, this year’s concert will “shine a light on individuals from all over the UK who have shown love, kindness and empathy towards others in their communities,” a statement from Kensington Palace said.

Some 1,600 people, nominated for their commitment to helping people in need, will be joined at Westminster Abbey by members of the royal family and other well-known faces.

Carols will be sung by the Westminster Abbey choir alongside performances from musicians including Paloma Faith, Olivia Dean, Gregory Porter and young performers from Restore the Music.

Fifteen “Together at Christmas” community carol services will also take place across the UK.

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    Last year’s concert saw the prince and princess accompanied by their three children and other members of the royal family.

    The news comes after Kate’s back-to back appearances at Remembrance Day events in London at the weekend.

    In September, the princess announced she was cancer-free and would be taking a phased approach to resuming public royal duties. Last month, she accompanied William on visit to Southport in northwest England, where the couple met with the bereaved families of three children killed in a knife attack in July.

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