Wales Millennium Centre, Cardiff Jack Furness’s unconventional staging for Welsh National Opera sees the orchestra play up a storm under Tomáš Hanus in Wagner’s legend of the man condemned to sail the oceans for eternity In 1839 the 26-year-old Richard Wagner almost drowned during a perilous voyage across the Baltic from Riga. It was this experience that he claimed inspired The Flying Dutchman, th...
Wales Millennium Centre, Cardiff Jack Furness’s unconventional staging for Welsh National Opera sees the orchestra play up a storm under Tomáš Hanus in Wagner’s legend of the man condemned to sail the oceans for eternity In 1839 the 26-year-old Richard Wagner almost drowned during a perilous voyage across the Baltic from Riga. It was this experience that he claimed inspired The Flying Dutchman, the legend of the man condemned for eternity to sail the oceans in his ghost ship gave him the narrative for his first mature opera. Wagner thought of his libretto as a poem, and it certainly grapples with some of the epic questions: birth, life, love and death. Welsh National Opera ’s new staging, directed by Jack Furness, begins with a woman in childbirth, the wild and stormy surges of the overture coinciding with her contractions. So Senta is born, destined, as a small child, to see her mother die, whisked away on her hospital bed into the great abyss. Senta will be a damaged soul, obsessed to the point of derangement by the story of the Dutchman, whose single hope of redemption, the love of a true woman, becomes possible only on touching land once every seven years. Backstories seem to have become a necessary accompaniment to any opera’s overture, which anyway spells out the whole trajectory in its leitmotifs. The strength of this intervention is visual, in the widely sweeping circles run first by Senta the young girl, then as a young woman, a parallel to the Dutchman’s septennial cycles, their dresses symbolic of the blood-red sails of his ship, all metaphors which later return. Continue reading...
DNY59/iStock via Getty Images The euphoria continues with the major market indexes marching to new all-time highs for a second day in a row. The Nasdaq has soared for 12 consecutive sessions, which is its longest stretch since we emerged from the Great Financial Crisis in July 2009. Yesterday’s fuel was the announcement of a 10-day ceasefire between Israel and Lebanon, along with more assurances f...
DNY59/iStock via Getty Images The euphoria continues with the major market indexes marching to new all-time highs for a second day in a row. The Nasdaq has soared for 12 consecutive sessions, which is its longest stretch since we emerged from the Great Financial Crisis in July 2009. Yesterday’s fuel was the announcement of a 10-day ceasefire between Israel and Lebanon, along with more assurances from President Trump that the war was over and negotiations would lead to a speedy resolution in the war with Iran. I was a steadfast bull at the beginning of this year, adding exposure to stocks during the correction in anticipation of a short conflict, but I am not as confident as the President in a quick resolution. I think the market has now fully reflected one. Therefore, I am reducing risk as this euphoric rally ensues. IMF global growth outlook (IMF) My macroeconomic analysis is focused on rates of change, and I am starting to see the tables turn to the extent that there are more negative ones than positive ones. The International Monetary Fund and World Bank think that investors are underestimating the economic damage from the war, because the impact is likely to get worse rather than better even if the war ended today. We are going to see higher costs, longer trade routes, and slower growth ahead. Global growth rates have been revised down to their lowest levels since the pandemic. GDPNow estimates table ( Atlanta Fed) I don’t think investors are recognizing the disruptions the war is having on supply chains or the economies outside the United States. The Strait of Hormuz has been closed for six weeks, and the ships leaving the strait just before the war started are just now arriving at their destinations. The pain will be felt in the coming weeks, and it will take a long time for supply chains to restart and normalize. There is the potential for a food crisis from the lack of fertilizer available. Semiconductor production could be interrupted, due to the lack of he...
KTOS ramps up its hypersonic push with in-house innovation, successful tests and cost-focused systems, strengthening its role in next-gen defense programs.
KTOS ramps up its hypersonic push with in-house innovation, successful tests and cost-focused systems, strengthening its role in next-gen defense programs.
olrat/iStock Editorial via Getty Images Alstom ( ALSMY ) ( AOMFF ) sank nearly 30% in European trading Friday, on course for its worst single-day decline since October 2023, after withdrawing its financial guidance , citing slow progress on key projects for railway rolling stock. The French train maker pulled its target for €1.5B (~$1.77B) in cumulative free cash flow for the three years until th...
olrat/iStock Editorial via Getty Images Alstom ( ALSMY ) ( AOMFF ) sank nearly 30% in European trading Friday, on course for its worst single-day decline since October 2023, after withdrawing its financial guidance , citing slow progress on key projects for railway rolling stock. The French train maker pulled its target for €1.5B (~$1.77B) in cumulative free cash flow for the three years until the end of the current 2026-27 financial year, as well as its target of an 8%-10% adjusted EBIT margin by FY 2027. Alstom ( ALSMY ) ( AOMFF ) issued preliminary results for FY 2026 ended March 31, saying its adjusted EBIT margin fell to 6%, down from 6.4% in the previous fiscal year and lower than the 7% it previously forecast, and free cash flow declined to €330M from €502M in FY 2025. Orders for the fiscal year jumped 42% Y/Y on an organic basis to €27.6B, while sales grew 7% organically to €19.2B. "In a business where rigorous planning and disciplined execution are essential, some large rolling-stock projects have progressed more slowly than anticipated, weighing on near-term margins and cash," new CEO Martin Sion said, without describing which projects and regions were hit by the delays. "We are therefore launching immediate actions to stabilize performance, while preparing deeper operational changes to restore sustainable execution, cash generation, and profitable growth," Sion said. " The core issue is engineering execution rather than demand, with delays in homologation, German ramp-ups, and late‑stage deliveries driving cost overruns," Redburn analyst James Moore said in a note. More on Alstom Alstom Q3 2026 Sales/Trading Call Transcript Alstom Q3 2026 Sales/Trading Statement Call - Slideshow Financial information for Alstom
State Street (STT) delivered earnings and revenue surprises of +9.23% and +3.24%, respectively, for the quarter ended March 2026. Do the numbers hold clues to what lies ahead for the stock?
State Street (STT) delivered earnings and revenue surprises of +9.23% and +3.24%, respectively, for the quarter ended March 2026. Do the numbers hold clues to what lies ahead for the stock?
Just_Super/iStock via Getty Images Voyager Technologies ( VOYG ) has surged 8.8% following the win of a private astronaut mission from NASA. While this is a meaningful win for Voyager Technologies in terms of paving the way to their commercial space station called Starlab, we note that the stock price is only up 9.4% since my last report, in which I upgraded the stock from sell to buy. That is def...
Just_Super/iStock via Getty Images Voyager Technologies ( VOYG ) has surged 8.8% following the win of a private astronaut mission from NASA. While this is a meaningful win for Voyager Technologies in terms of paving the way to their commercial space station called Starlab, we note that the stock price is only up 9.4% since my last report, in which I upgraded the stock from sell to buy. That is definitely better than the market, but a substantial part of the stock price increase comes from the stock price reaction after the mission award. That also makes it important to assess the value of the mission. Voyager Technologies: On The Cross-Road Of Defense And Commercial Space Voyager Technologies Voyager Technologies was established in 2019 and operates through three segments: Defense and National Security Space Solutions Starlab Space Solutions In 2025, the company generated $166 million in sales, of which 74% was attributable to defense and national security and the remainder to the space business. We note that defense and national security were the growth engines supporting hypersonics, missile defense, kill vehicles, and re-entry vehicles. Space revenues, on the other hand, declined, driven by the completion of legacy NASA contracts. The Starlab Space Solutions segment is an interesting one. The joint venture with Airbus ( EADSF ), MDA Space ( MDA:CA ), Mitsubishi Corporation, and Palantir ( PLTR ) aims to provide a replacement for the ISS for microgravity science and research in space. The ISS is set to be de-orbited around 2030, which could put the company at the forefront of facilitating research in space. We do note that Starlab is partially funded through NASA’s replacement program, and the current budget cuts at NASA could alter funding and replacement requirements. We note that Voyager Technologies is aiming to grow organically and inorganically to become a vertically as well as horizontally integrated company. The Significance Of The Private Astronaut Missio...
According to a report from Reuters, Elon Musk's space exploration company, SpaceX , has filed for an initial public offering (IPO) slated to go live in June. With an expected valuation of more than $2 trillion, this is likely to be the largest IPO in history. And it will give retail investors access to an established industry leader in the rapidly expanding space opportunity. But all that glitters...
According to a report from Reuters, Elon Musk's space exploration company, SpaceX , has filed for an initial public offering (IPO) slated to go live in June. With an expected valuation of more than $2 trillion, this is likely to be the largest IPO in history. And it will give retail investors access to an established industry leader in the rapidly expanding space opportunity. But all that glitters isn't gold. IPO investing comes with a unique set of risks compared to other stocks. And it is very easy to get burned. Let's discuss three reasons why investors may want to think twice before betting on SpaceX as soon as it becomes publicly available. Image source: Getty Images. Continue reading
When it comes to theology, Donald Trump’s vice-president clearly knows best. Are we about to see an American break with Rome? The battle to be the absolute worst Trump henchman can feel so closely fought. But in the end, it’s always JD Vance, isn’t it? You would say Stephen Miller, but Miller’s too hidden to qualify as a front-of-house henchman among the US president’s court of grotesques. Stephen...
When it comes to theology, Donald Trump’s vice-president clearly knows best. Are we about to see an American break with Rome? The battle to be the absolute worst Trump henchman can feel so closely fought. But in the end, it’s always JD Vance, isn’t it? You would say Stephen Miller, but Miller’s too hidden to qualify as a front-of-house henchman among the US president’s court of grotesques. Stephen’s clearly been judged so wantonly horrifying that the administration must keep him out of public view. If you enter the store, Miller is the only-for-the-initiated entity alluded to in a whisper by the oleaginous sales assistant. “We do have something in the back – off-the-books, as it were – if sir is after something a little more … specialist .” But Vance? Vance besets us like the 11th plague – the plague of media appearances. For the next South Park season, I hope the creators give their brilliantly ghastly little vice-president avatar a papal mitre to wear. After all, here we have a man whose pick-me book on his journey to Catholicism has yet to even be published. That tome currently lies in the rectum of HarperCollins, ready to be excreted in June – yet inevitably, Vance is already giving menacing doctrinal advice to the pope as part of the multi-theatre fallout of Operation Epic Facepalm. Marina Hyde is a Guardian columnist Continue reading...
The Schwab Long-Term U.S. Treasury ETF (NYSEMKT:SCHQ) stands out for its ultra-low fees and marginally higher yield, while the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) dominates in assets under management. Both SCHQ and TLT target long-term U.S. Treasury bonds, appealing to investors seeking interest rate sensitivity and government-backed security. This comparison unpacks differences in cos...
The Schwab Long-Term U.S. Treasury ETF (NYSEMKT:SCHQ) stands out for its ultra-low fees and marginally higher yield, while the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) dominates in assets under management. Both SCHQ and TLT target long-term U.S. Treasury bonds, appealing to investors seeking interest rate sensitivity and government-backed security. This comparison unpacks differences in cost, performance, risk, and structure to help clarify which fund may better align with different investment priorities. Beta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months. Continue reading