Opera needs big money: opera chiefs need big donors. New York’s Metropolitan Opera has just lost a $200m investment, but should it have accepted it in the first place? Opera’s stories of power aren’t only played out on stage. The mechanics of producing opera involve vast amounts of people, from set builders to wig-makers to chorus and orchestra, and even vaster amounts of money. An opera company n...
Opera needs big money: opera chiefs need big donors. New York’s Metropolitan Opera has just lost a $200m investment, but should it have accepted it in the first place? Opera’s stories of power aren’t only played out on stage. The mechanics of producing opera involve vast amounts of people, from set builders to wig-makers to chorus and orchestra, and even vaster amounts of money. An opera company needs huge reservoirs of cash: whether from governments, companies donating for tax benefits, or private individuals whose motivations may be entirely driven by sheer love of the form, or they might not. The Royal Opera House named a hall after the American investment banker Alberto Vilar who promised the company £10m, before being convicted and imprisoned for fraud in 2010 , while the Sackler family’s millions sponsored swathes of culture across the US and UK – but the source of this wealth gave the world an opioid epidemic . So pity the poor opera house manager, trying to deal with an essentially insoluble situation: choose your donors, choose your poison. And pity especially Peter Gelb, who has been running the Metropolitan Opera in New York, the world’s biggest opera house, for the past two decades. Gelb faces in extremis the same hard economic truth that all opera houses, classical music institutions and performing groups face. Unlike so many parts of the economy, the services they provide have not become – and cannot become – more efficient. It’s what is known as Baumol’s cost disease , a term coined by the economist William J Baumol in the 1960s. One of the examples he used to illustrate the “disease” was a string quartet. It took four players in 1800 – and still, today, takes four musicians. How stupidly inefficient! It’s the same story, only exponentially less efficient and more expensive, for putting on an opera. Wagner’s Tristan und Isolde, one of the Met’s recent blockbuster productions, still needs an army of stage managers as well as orchestral musicians, it st...
Australian Foreign Minister Penny Wong delivered a strong message to China on Wednesday: stable shipments of commodities and food requires continued imports of petrol, jet fuel and fertilizer. “I made the point that the inputs China supplies to Australia, including jet fuel, support the Australian resources sector, which in turn helps to maintain the flow of commodities that are so important in th...
Australian Foreign Minister Penny Wong delivered a strong message to China on Wednesday: stable shipments of commodities and food requires continued imports of petrol, jet fuel and fertilizer. “I made the point that the inputs China supplies to Australia, including jet fuel, support the Australian resources sector, which in turn helps to maintain the flow of commodities that are so important in the bilateral trading relationship,” Wong told reporters after meetings with her counterpart Wang Yi and other Chinese leaders . That message is one which the government of Prime Minister Anthony Albanese has been taking to the whole region, highlighting the existing mutual dependence. Canberra aims to ensure energy deliveries continue, with the quid pro quo that it will do the same with liquefied natural gas and coal, food and iron ore. As part of that effort, earlier this month Wong signed an addition to the free trade deal with Singapore supporting the stable supply of essential goods such as food and energy. Since the war began, China has been limiting exports of some fuels, but the government in Beijing has begun to “ facilitate ” the sale of jet fuel to Australia companies, although she cautioned that talks were still in the early stages.
Community members attend a vigil to honor the victims of one of Canada's deadliest mass shootings in Tumbler Ridge, British Columbia, Canada, on February 13, 2026. Paige Taylor White | Afp | Getty Images Family members of victims of one of Canada's deadliest mass shootings sued OpenAI and its CEO Sam Altman in U.S. court on Wednesday, alleging the company identified the shooter as a credible threa...
Community members attend a vigil to honor the victims of one of Canada's deadliest mass shootings in Tumbler Ridge, British Columbia, Canada, on February 13, 2026. Paige Taylor White | Afp | Getty Images Family members of victims of one of Canada's deadliest mass shootings sued OpenAI and its CEO Sam Altman in U.S. court on Wednesday, alleging the company identified the shooter as a credible threat eight months before the attack but did not warn police. The lawsuits, filed in federal court in San Francisco, accuse OpenAI leaders of not alerting police because it would have exposed the volume of violence-related conversations on ChatGPT and potentially jeopardized the company's path to a nearly $1 trillion initial public offering. The February shooting in Tumbler Ridge, British Columbia left nine people dead, many of them children. An OpenAI spokesperson called the shooting "a tragedy" and said the company has a zero-tolerance policy for using its tools to assist in committing violence. "As we shared with Canadian officials, we have already strengthened our safeguards, including improving how ChatGPT responds to signs of distress, connecting people with local support and mental health resources, strengthening how we assess and escalate potential threats of violence, and improving detection of repeat policy violators," the spokesperson said in a statement. The cases are part of a growing wave of lawsuits accusing artificial intelligence companies of failing to prevent chatbot interactions that plaintiffs say contribute to self-harm, mental illness and violence. They appear to be the first in the U.S. to allege that ChatGPT played a role in facilitating a mass shooting. Jay Edelson, who is representing the plaintiffs, said he plans to file another two dozen lawsuits in the coming weeks against the company on behalf of other people impacted by the shooting. Lawsuits claim OpenAI safety team overruled Jesse Van Rootselaar, whose interactions with ChatGPT are at the cente...
Oracular spectacular? | Image: Cath Virginia / The Verge If you want to know whether the AI bubble is bursting, there's only one publicly traded company that will tell you: Oracle. That's right, the database company. Oracle has burned its boats and pivoted to AI, but not in any kind of usual way. It is not a foundation model builder like OpenAI or Anthropic, obviously. It's not quite a neocloud, t...
Oracular spectacular? | Image: Cath Virginia / The Verge If you want to know whether the AI bubble is bursting, there's only one publicly traded company that will tell you: Oracle. That's right, the database company. Oracle has burned its boats and pivoted to AI, but not in any kind of usual way. It is not a foundation model builder like OpenAI or Anthropic, obviously. It's not quite a neocloud, though it has entered the same bare-metal business as CoreWeave . It is a software-as-a-service company that has made an audacious bet on a very specific future version of AI as Oracle's traditional business has gracefully declined. It is significantly older than any of its AI competitors, save Microsoft, … Read the full story at The Verge.
Navios Maritime ( NMM ) declares $0.06/share quarterly dividend , 20% increase from prior dividend of $0.05. Forward yield 0.33% Payable May 14; for shareholders of record May 11; ex-div May 11. See NMM Dividend Scorecard, Yield Chart, & Dividend Growth. More on Navios Maritime Navios Maritime Partners Remains A Buy After A 100% Rally Navios Maritime Partners L.P. Common Units 2025 Q4 - Results - ...
Navios Maritime ( NMM ) declares $0.06/share quarterly dividend , 20% increase from prior dividend of $0.05. Forward yield 0.33% Payable May 14; for shareholders of record May 11; ex-div May 11. See NMM Dividend Scorecard, Yield Chart, & Dividend Growth. More on Navios Maritime Navios Maritime Partners Remains A Buy After A 100% Rally Navios Maritime Partners L.P. Common Units 2025 Q4 - Results - Earnings Call Presentation Navios Maritime Partners L.P. Common Units (NMM) Q4 2025 Earnings Call Transcript Scorpio Tankers leads seven ocean transportation stocks with new Buy ratings at Jefferies Quant check dry bulk shipping names as Baltic Dry Index strength supports sentiment
The yen slid past the key 160-per-dollar level as the currency traded under pressure following the Bank of Japan ’s April meeting, at which Governor Kazuo Ueda refrained from providing a clear sign concerning the timing of the central bank’s next interest-rate hike. The renewed weakness is likely to heighten concern among Japanese policymakers. Prior to the BOJ decision early Tuesday, Minister of ...
The yen slid past the key 160-per-dollar level as the currency traded under pressure following the Bank of Japan ’s April meeting, at which Governor Kazuo Ueda refrained from providing a clear sign concerning the timing of the central bank’s next interest-rate hike. The renewed weakness is likely to heighten concern among Japanese policymakers. Prior to the BOJ decision early Tuesday, Minister of Finance Satsuki Katayama said authorities are standing by to respond to foreign-exchange moves as needed around the clock as Tokyo remains on high alert over speculative moves that are weighing on the currency. Investors also remain on edge as the US and Iran vie for control of the Strait of Hormuz after Tehran proposed an interim deal to reopen the key shipping passage following stalled peace talks . The uncertainty has supported the dollar and kept oil prices elevated, adding to inflation in Japan while also raising downside risks to growth. The moves in Japan’s currency also come alongside broader strength in the dollar heading into the conclusion of the Federal Reserve ’s own policy meeting Wednesday. Officials led by Chair Jerome Powell are widely expected to keep rates on hold, with traders focused on any forward guidance offered by the central bankers amid the ongoing conflict in the Middle East. The Bloomberg Dollar Spot Index gained about 0.2% as of 9:30 a.m. in New York. The weakening in the yen resumed even after traders in the interest-rate swaps market ratcheted up expectations for a rate hike by June to around 66%. Read More: BOJ Holds Rates in Split Vote, Boosting Odds of a June Hike A breach of the yen’s year-to-date weak point of 160.46, hit on March 30, would take the yen back to levels last reached in mid-2024. Authorities intervened in the market several times in 2024 when the yen weakened toward the 160-per-dollar level , though officials have repeatedly emphasized that they are focused on excessive volatility rather than defending specific rates. Beyon...
koto_feja Grand Theft Auto 6 appears to still be on track for a pivotal release date ahead of the 2026 holiday season. Take-Two Interactive's ( TTWO ) Rockstar Games' open-world crime game will be set in the fictional state of Leonida. Trailers indicate that the world also appears to include areas inspired by the Everglades, the Florida Keys, and other parts of the state. The game is expected to l...
koto_feja Grand Theft Auto 6 appears to still be on track for a pivotal release date ahead of the 2026 holiday season. Take-Two Interactive's ( TTWO ) Rockstar Games' open-world crime game will be set in the fictional state of Leonida. Trailers indicate that the world also appears to include areas inspired by the Everglades, the Florida Keys, and other parts of the state. The game is expected to launch on November 19 for PlayStation 5 and Xbox Series X/S, according to Rockstar’s official announcement. After a long delay, reports suggest a larger, more immersive world with GTA 6, with modernized systems for police behavior, stealth, combat, and world simulation. Earlier in the week, Oppenheimer analyst Martin Yang attended the iicon Conference, where Take-Two Interactive ( TTWO ) CEO Strauss Zelnick was interviewed by reporter Jenny Mass. Notably, Strauss reaffirmed the release date of November 26, although he declined to set a benchmark to define success for GTA 6 or release pricing info, although he seemed to indicate a super premium price point will not be in play. Strauss confirmed that he believes conceptually that live services can exist with new releases. Yang took that to mean that Grand Theft Auto Online will co-exist alongside GTA 6 and to boost revenue streams for Take-Two ( TTWO ) Clearly, Take-Two Interactive ( TTWO ) knows the bar is high for GTA 6. "What we think about is making the most spectacular piece of entertainment on Earth, in history – and it’s a pretty daunting challenge. If we do that, and if we’re of service to our customers, then the upside will take care of itself," stated Strauss. On a humorous note, Strauss said he expects countless people will be calling in sick on November 19. Shares of Take-Two Interactive ( TTWO ) are down 18% on a year-to-date basis. More on Take-Two Take-Two Interactive: What The Market Is Missing About The GTA VI (Rating Upgrade) Take-Two Interactive Software: Strong Bookings Prospects Amid Selloff (Upgrade) Take...
Stock were pulled back again Wednesday morning ahead of what's sure to be a wild 24 hours for Wall Street. The Dow fell 252 points, or 0.5%. The S&P 500 was down 0.2%. The Nasdaq was down 0.2%. If it feels like the calm before the storm, that's because a hurricane of headlines are on their way.
Stock were pulled back again Wednesday morning ahead of what's sure to be a wild 24 hours for Wall Street. The Dow fell 252 points, or 0.5%. The S&P 500 was down 0.2%. The Nasdaq was down 0.2%. If it feels like the calm before the storm, that's because a hurricane of headlines are on their way.
Landstar System ( LSTR ) declares $0.40/share quarterly dividend , in line with previous. Forward yield 0.84% Payable June 9; for shareholders of record May 15; ex-div May 15. See LSTR Dividend Scorecard, Yield Chart, & Dividend Growth. More on Landstar System Landstar System, Inc. (LSTR) Q1 2026 Earnings Call Transcript Landstar System, Inc. 2026 Q1 - Results - Earnings Call Presentation Landstar...
Landstar System ( LSTR ) declares $0.40/share quarterly dividend , in line with previous. Forward yield 0.84% Payable June 9; for shareholders of record May 15; ex-div May 15. See LSTR Dividend Scorecard, Yield Chart, & Dividend Growth. More on Landstar System Landstar System, Inc. (LSTR) Q1 2026 Earnings Call Transcript Landstar System, Inc. 2026 Q1 - Results - Earnings Call Presentation Landstar System: The Selloff Is Valid, But It's Still Fully Priced Landstar signals April truck revenue per load about 13% above April 2025 while providing Q2 commentary instead of formal guidance ClearBridge Small Cap Strategy adds Upwork, exits Alexander & Baldwin in Q4
Gerdau ( GGB ) declares $0.0361/share quarterly dividend. Payable June 16; for shareholders of record May 15; ex-div May 15. See GGB Dividend Scorecard, Yield Chart, & Dividend Growth. More on Gerdau Gerdau S.A. (GGB) Q1 2026 Earnings Call Transcript Gerdau S.A. 2026 Q1 - Results - Earnings Call Presentation Gerdau: Up, And Back Down Again In 2026E (Rating Upgrade) Ternium raised to Buy at BofA as...
Gerdau ( GGB ) declares $0.0361/share quarterly dividend. Payable June 16; for shareholders of record May 15; ex-div May 15. See GGB Dividend Scorecard, Yield Chart, & Dividend Growth. More on Gerdau Gerdau S.A. (GGB) Q1 2026 Earnings Call Transcript Gerdau S.A. 2026 Q1 - Results - Earnings Call Presentation Gerdau: Up, And Back Down Again In 2026E (Rating Upgrade) Ternium raised to Buy at BofA as 'solid option' to play U.S. flat steel Gerdau upgraded, Ternium downgraded at Scotiabank in steelmaker rating swap
BalkansCat/iStock Editorial via Getty Images Franklin Resources ( BEN ) was upgraded at Barclays after the second-quarter earnings release on improving fundamentals. Shares were 2.00% higher at $30.05 after the market opened on Wednesday. The asset manager reported FQ2 non-GAAP EPS of $0.71, which beats analyst estimates by $0.16, and revenue of $2.29B (+8.5% Y/Y), which exceeds the consensus by $...
BalkansCat/iStock Editorial via Getty Images Franklin Resources ( BEN ) was upgraded at Barclays after the second-quarter earnings release on improving fundamentals. Shares were 2.00% higher at $30.05 after the market opened on Wednesday. The asset manager reported FQ2 non-GAAP EPS of $0.71, which beats analyst estimates by $0.16, and revenue of $2.29B (+8.5% Y/Y), which exceeds the consensus by $240M. "Following several quarters of improving fundamentals, particularly versus traditional asset manager peers, we are upgrading BEN to Equal Weight (previously Underweight)," said analyst Benjamin Budish. The upgrade considers strong Alts fundraising and performance, improving overall net flows, and expense discipline. The price target was raised to $31.00, 19% higher than the prior target of $26.00. Barclays' rating aligns with the sell-side analysts and Seeking Alpha Quant rating of Hold. SA authors grade the stock as Sell. More on Franklin Resources Franklin Resources, Inc. (BEN) Q2 2026 Earnings Call Transcript Franklin Resources, Inc. 2026 Q2 - Results - Earnings Call Presentation Franklin Resources: March AUM Data Is A Potential Warning Sign Franklin Templeton expects $830m comp and mid- to high 37s effective fee rate in Q3, while targeting $25b-$30b private markets fundraising Franklin Resources Non-GAAP EPS of $0.71 beats by $0.16, revenue of $2.29B beats by $240M