Sundry Photography/iStock Editorial via Getty Images Arm Holdings plc ( ARM ) has seen its stock more than double since the end of February; that advance is likely to unwind some after the company reports results on May 6 after the close of trading. The company is expected to report that earnings climbed by 5.8% to $0.58 per share in the fiscal fourth quarter, while revenue increased by 18.5% to $...
Sundry Photography/iStock Editorial via Getty Images Arm Holdings plc ( ARM ) has seen its stock more than double since the end of February; that advance is likely to unwind some after the company reports results on May 6 after the close of trading. The company is expected to report that earnings climbed by 5.8% to $0.58 per share in the fiscal fourth quarter, while revenue increased by 18.5% to $1.4 billion. Despite what is expected to be a lackluster quarter, the stock has soared, more than doubling from its February lows. Implied Volatility Is Very High Options positioning for ARM is very bullish, and implied volatility is extremely high. That means that after the company reports results and implied volatility resets to much lower levels, both puts and calls will have their premiums fall. The problem for the bullish case is that call positioning heavily outweighs put positioning, which is likely to pressure the stock lower. The biggest problem is that implied volatility has risen to over 150%, a massive level for any stock. As a result, the premiums for both puts and calls are inflated. Buyers of options are currently overpaying to own them. Implied volatility is expected to fall from around 150% for options expiring May 8, to around 90% for expiration on May 22, and it is possible that even the IV for May 22 will fall as well. Mott Capital, LSEG As a result, the $210 call that expires on May 8, which currently has a premium of $11, needs the stock to be trading over $221 to start earning a profit following results, or a gain of roughly 8% from its current price around $205 on the morning of May 5. However, once the IV falls, the value of the options will decline to about $6, assuming the IV declines to 90%. That does not even account for the decay in the premium over time. Delta and Gamma The reset in implied volatility and its effects will occur across the entire option chain. However, the call delta in ARM heavily outweighs the put delta, with most of the delt...
Earnings Call Insights: AH Realty Trust (AHRT) Q1 2026 Management view "Since announcing our strategic restructuring on February 16, we have executed more transformation milestones in a single quarter than in any comparable period in the company's history," said CEO, President & Chairman of the Board Shawn Tibbetts, highlighting a "binding agreement to sell 11 multifamily assets for $562 million,"...
Earnings Call Insights: AH Realty Trust (AHRT) Q1 2026 Management view "Since announcing our strategic restructuring on February 16, we have executed more transformation milestones in a single quarter than in any comparable period in the company's history," said CEO, President & Chairman of the Board Shawn Tibbetts, highlighting a "binding agreement to sell 11 multifamily assets for $562 million," the completed sale of the construction business, wind-down dispositions in real estate financing, "repurchased 4.3 million shares of common stock," and a rebrand to AH Realty Trust. Tibbetts framed the post-restructuring company as "a pure-play, high-quality retail and mixed-use office REIT" focused on the Sunbelt, Mid-Atlantic and Southeast, while noting macro risks: "higher interest rates, elevated financing costs and heightened global tensions." He said, "we are raising our full year 2026 FFO as adjusted guidance range to $0.51 to $0.55 per diluted share." On portfolio positioning, Tibbetts emphasized office mix and occupancy: "95% of our office investments are concentrated in vibrant mixed-use settings rather than stand-alone suburban office assets," and said quarter-end leased levels were "94.8%" for stabilized retail and "96%" for stabilized mixed-use office. CFO, Treasurer & Corporate Secretary Matthew Barnes said, "For the first quarter, FFO attributable to common shareholders was $20.6 million or $0.20 per diluted share," and "FFO as adjusted attributable to common shareholders was $15.1 million or $0.15 per diluted share," adding that FFO as adjusted "represents the clearest measure of the earnings of our go-forward retail and mixed-use office platform." EVP of Asset Management Craig Ramiro said the company added new disclosure to tie occupancy to cash results: "Economic occupancy as opposed to leased occupancy... considers free rent periods, rent abatements and periods prior to rent commencement," and "we believe reporting both economic and leased occupancy goin...
One of the best things about investing is that you can pass your stocks on to your kids after you pass away and put them ahead financially. It's the gift that keeps on giving as the investments (ideally) continue to grow over time. For that to happen, though, it helps to make sure you're leaving your kids' shares in blue-chip companies that have stood the test of time and will likely continue to d...
One of the best things about investing is that you can pass your stocks on to your kids after you pass away and put them ahead financially. It's the gift that keeps on giving as the investments (ideally) continue to grow over time. For that to happen, though, it helps to make sure you're leaving your kids' shares in blue-chip companies that have stood the test of time and will likely continue to do so. In the tech world, that's not always easy to find because companies come and go as technology evolves. One clear exception, though, is Microsoft (NASDAQ: MSFT) . If I could choose one tech stock to leave to my kids, it would be this one. Continue reading
"Moderate" Democrat Abigail Spanberger Considers Tax On Gym Memberships And Streaming Services, Among Other Ideas Virginia Governor Abigail Spanberger is facing backlash after refusing to rule out new taxes on everyday services like gym memberships and streaming subscriptions, according to the Daily Mail . During an interview with 8News, the Virginia governor was asked whether she would sign legis...
"Moderate" Democrat Abigail Spanberger Considers Tax On Gym Memberships And Streaming Services, Among Other Ideas Virginia Governor Abigail Spanberger is facing backlash after refusing to rule out new taxes on everyday services like gym memberships and streaming subscriptions, according to the Daily Mail . During an interview with 8News, the Virginia governor was asked whether she would sign legislation expanding the state’s sales tax to cover a long list of services. Rather than rejecting the idea outright, Spanberger said any proposal that seems “reasonable” should at least be part of the conversation as lawmakers search for new sources of revenue. "I think every idea, as long as it's reasonable and makes some amount of sense, should be entertained should be discussed," she said. "You mentioned the one on streaming services, you used to buy a DVD, there was a sales tax. Streaming is different," she added. "I recognize there is value in having these conversations, but whether I'd ever sign a bill is wholly predicated on what is actually in the bill, and how it is outlined." "I think there are worthy conversations to be had about what revenue generation looks like into the future as our economy changes in so many ways." The Daily Mail writes that the proposals floated in Richmond this year would have expanded taxes to services that have traditionally been exempt, including self-storage units, dry cleaning, vehicle repairs, counseling, website design, cloud storage, and digital subscriptions. One measure, HB978, would have specifically added sales taxes to fitness memberships and athletic clubs. None of the bills cleared the General Assembly before lawmakers adjourned in March, so Spanberger hasn’t had to make a final decision yet. Critics argue the proposals are a preview of where Virginia’s tax policy could be heading under its new Democratic leadership. Spanberger campaigned as a moderate but has already drawn criticism from conservatives over several early policy...
Toby Neugebauer , the ousted leader of Fermi Inc. , is calling for a special shareholder meeting on May 29 to expand the nuclear data-center developer’s board and elect himself and several additional directors. Plans for the meeting were announced Tuesday in a statement, though Neugebauer said he scheduled it last month, before he was fired as chief executive officer. He also said that Fermi has s...
Toby Neugebauer , the ousted leader of Fermi Inc. , is calling for a special shareholder meeting on May 29 to expand the nuclear data-center developer’s board and elect himself and several additional directors. Plans for the meeting were announced Tuesday in a statement, though Neugebauer said he scheduled it last month, before he was fired as chief executive officer. He also said that Fermi has sought to cancel the meeting, a move he opposes. Representatives for Fermi and Neugebauer didn’t respond to requests for comment Tuesday. The push marks the latest escalation in a dispute between Neugebauer, the company’s co-founder, and Fermi, which says it fired him due to “conduct in violation” of his employment agreement. The company has been one of the more prominent beneficiaries of the data-center boom, surging in value after its October initial public offering on plans to install as much as 17 gigawatts of power capacity. The stock has since fallen sharply as Fermi struggled to secure customers. Neugebauer has also been ousted from the board and Fermi has already elected his replacement. He is now pressing the board to evaluate a potential sale of the company. “We built a world-class company in record time, and my focus is entirely on protecting and realizing that value for all shareholders,” he said in the statement. “It’s time the shareholders get a voice in the future of the company.” Fermi shares slipped as much as 6.9% Tuesday. After Firing CEO, Nuclear AI Startup Seeks to Reverse 84% Crash Fermi Co-Founder Neugebauer Sues Over His Ousting in Texas Fermi Co-Founder Neugebauer Seeks Sale After Removal as CEO
In this article GOOGL MSFT Follow your favorite stocks CREATE FREE ACCOUNT U.S. President Donald Trump disembarks from Air Force One upon arrival from Miami on May 3, 2026 at Joint Base Andrews, Florida. Roberto Schmidt | Getty Images The Center for AI Standards and Innovation on Tuesday announced agreements with Google DeepMind, Microsoft and Elon Musk's xAI that will allow the U.S. government to...
In this article GOOGL MSFT Follow your favorite stocks CREATE FREE ACCOUNT U.S. President Donald Trump disembarks from Air Force One upon arrival from Miami on May 3, 2026 at Joint Base Andrews, Florida. Roberto Schmidt | Getty Images The Center for AI Standards and Innovation on Tuesday announced agreements with Google DeepMind, Microsoft and Elon Musk's xAI that will allow the U.S. government to evaluate artificial intelligence models before they are publicly available. CAISI, which sits under the U.S. Department of Commerce, will "conduct pre-deployment evaluations and targeted research to better assess frontier AI capabilities and advance the state of AI security," according to a release. The announcement builds on CAISI's previous partnerships with OpenAI and Anthropic from 2024, the center said. Those agreements have been renegotiated to reflect CAISI's directives from the Commerce Secretary Howard Lutnick and America's AI Action Plan, according to the release. Beyond CAISI's announcement on Tuesday, the White House has been weighing the creation of a new AI working group that would explore potential oversight procedures, including plans to vet models before they're released to the public, CNBC confirmed. The working group would bring together a variety of tech executives and government officials, according to a source close to the discussions who asked not to be named because the details are confidential. The group may be established through an executive order. The White House told CNBC that discussion about potential executive orders is speculation, and that any policy announcement will come directly from President Donald Trump . The New York Times was first to report the working group. Read more CNBC tech news Coinbase cuts headcount by 14% citing AI acceleration. The shares are gaining OpenAI sales leader leaves for role at Thrive Capital Palantir tops estimates on 85% revenue growth, fastest expansion since market debut in 2020 SEC and Elon Musk agree to ...
Earnings Call Insights: Black Stone Minerals (BSM) Q1 2026 Management View “We delivered a strong first quarter, highlighted by higher production across our mineral position.” (Co-CEO, President & Director Taylor DeWalch) “Our performance was driven by increased natural gas activity in the Louisiana Haynesville and Shelby Trough, along with strong oil production in the Permian.” (Co-CEO DeWalch) “...
Earnings Call Insights: Black Stone Minerals (BSM) Q1 2026 Management View “We delivered a strong first quarter, highlighted by higher production across our mineral position.” (Co-CEO, President & Director Taylor DeWalch) “Our performance was driven by increased natural gas activity in the Louisiana Haynesville and Shelby Trough, along with strong oil production in the Permian.” (Co-CEO DeWalch) “Looking ahead, we view 2026 as a year of production growth compared to 2025 as development across our core areas continues to ramp, and we maintain our production guidance outlined in February.” (Co-CEO DeWalch) “During the quarter, we acquired an additional $12 million of mineral and royalty acreage. This brings total deployment under the program since its inception in '23 to more than $250 million.” (Co-CEO, President and Director Fowler Carter) “Adamas spud 4 wells during the quarter and turned online 7 wells… reaching 30 MMcf per day.” (Co-CEO Carter) “We progressed the opportunity highlighted last quarter in our Shelby Trough expansion area, which includes another approximately 300,000 gross mineral acres. We are currently marketing this project to experienced Haynesville operators to secure an additional development agreement.” (Co-CEO Carter) “Net income was $13.3 million for the quarter with adjusted EBITDA of $87 million.” (Senior VP, Chief Financial Officer and Treasurer Chris Bonner) Outlook “We view 2026 as a year of production growth compared to 2025… and we maintain our production guidance outlined in February.” (Co-CEO DeWalch) “We are assessing the potential impact on their first year development program.” (Co-CEO Carter) “Without putting anything of real substance out there, it might be a bit of a speed bump. But over, I'm going to say, a 2-year period, you won't see any difference.” (Co-CEO Carter) “The other piece of the equation that we're really trying to understand right now is, kind of, operators' reaction to pricing right now with, kind of, geopoliti...
Earnings Call Insights: EVgo (EVGO) Q1 2026 Management View "EVgo's first quarter was in line with our expectations. We delivered solid results, headlined by record first quarter revenues of $110 million, a 45% year-over-year increase." (CEO & Director Badar Khan) "Throughput on our public network increased to 91 gigawatt hours in the quarter. Stores in operation across the EVgo network were 5,280...
Earnings Call Insights: EVgo (EVGO) Q1 2026 Management View "EVgo's first quarter was in line with our expectations. We delivered solid results, headlined by record first quarter revenues of $110 million, a 45% year-over-year increase." (CEO & Director Badar Khan) "Throughput on our public network increased to 91 gigawatt hours in the quarter. Stores in operation across the EVgo network were 5,280 with over 200 new stores added in Q1." (CEO & Director Khan) "We continue to make great progress on our next-generation charging architecture that we expect to start rolling out to the field by the end of the year." (CEO & Director Khan) "Rideshare drivers are already around 1/4 of our network throughput and we continue to deepen our partnership with Uber, where we are working towards finalization of an agreement where they guarantee a minimum level of utilization that incentivizes us to build more and larger charging stations in key urban metros." (CEO & Director Khan) "We have over 100 stores operational with NACS connectors and continue to target having over 500 NAC stores available across the network by the end of the year at approximately 15% of our sites." (CEO & Director Khan) "We've agreed an amendment to our loan with the DOE Office of Energy Dominance Financing with the current administration, which we believe increases certainty and reduces complexity of go-forward draws and further enhances our already strong liquidity profile." (CEO & Director Khan) "On May 1st, EVgo received our next advance of $81 million, bringing our cash balance on May 1st to $223 million." (CEO & Director Khan) "The size of the loan has been updated to $750 million, which includes $625 million in borrowings and up to $125 million in capitalized interest." (CEO & Director Khan) "A redundant construction risk-related reserve account of $35 million is eliminated... which reduces restricted cash for EVgo, further improving our liquidity profile." (CEO & Director Khan) "As of May 1st, we curr...
Readers respond to articles in the wake of the Golders Green stabbings and suggestions that pro-Palestinian protests could be banned Banning protests will not make Jews safer ( Some pro-Palestinian protests could be banned amid attacks on British Jews, 2 May ). I am Jewish and I no longer feel safe walking the streets of north London where I live. But I don’t blame the pro-Palestine marches. I bla...
Readers respond to articles in the wake of the Golders Green stabbings and suggestions that pro-Palestinian protests could be banned Banning protests will not make Jews safer ( Some pro-Palestinian protests could be banned amid attacks on British Jews, 2 May ). I am Jewish and I no longer feel safe walking the streets of north London where I live. But I don’t blame the pro-Palestine marches. I blame the Israeli government. In the wake of the attack on Jews in Golders Green , suggestions that pro-Palestinian protests should be banned are dangerously misplaced. Antisemitism is real and rising, and violence against Jews must be confronted without hesitation. But the protests are not the primary driver of that fear. Continue reading...
Earnings Call Insights: Donnelley Financial Solutions (DFIN) Q1 2026 Management view “We started 2026 by building on the positive momentum in our performance from the fourth quarter of last year, delivering consolidated net sales growth, year-over-year growth in adjusted EBITDA, adjusted EBITDA margin expansion and improvements in both operating cash flow and free cash flow,” said (President, CEO ...
Earnings Call Insights: Donnelley Financial Solutions (DFIN) Q1 2026 Management view “We started 2026 by building on the positive momentum in our performance from the fourth quarter of last year, delivering consolidated net sales growth, year-over-year growth in adjusted EBITDA, adjusted EBITDA margin expansion and improvements in both operating cash flow and free cash flow,” said (President, CEO & Director Daniel Leib). Leib emphasized the mix shift toward software and reiterated the company’s long-term framework: “Software solutions net sales represented 44.6% of total net sales in the first quarter… This continued positive mix shift positions us well to achieve our long-term target of deriving approximately 60% of total net sales from software solutions by 2028,” (President, CEO & Director Leib). On key products, Leib highlighted ActiveDisclosure momentum and broadened AI availability: “ActiveDisclosure… posted approximately 21% sales growth… Marking the sixth consecutive quarter of double-digit sales growth,” and “Active Intelligence… became available to all clients in April,” (President, CEO & Director Leib). On capital markets software, Leib positioned Venue as a growth lever: “Venue delivered solid year-over-year sales growth of approximately 7%… driven by a resilient demand for data rooms,” (President, CEO & Director Leib). On the newer ArcFlex initiative, Leib tied timing expectations to revenue impact: “We signed our first ArcFlex contract… We expect the commercial activities around ArcFlex to continue to scale through 2026, resulting in more meaningful incremental revenue starting in 2027,” (President, CEO & Director Leib). Gardella framed Q1 execution around mix and cost actions: “By continuing to execute our software-centric strategy while also driving operating efficiencies, we expanded our first quarter adjusted EBITDA margin by approximately 50 basis points to 34.4%,” (Executive VP & CFO David Gardella). Outlook “We expect consolidated second quarter...
Earnings Call Insights: Sotera Health (SHC) Q1 2026 Management View "This morning, we announced a strong start to the year with 6.5% constant currency revenue growth and 6.9% constant currency adjusted EBITDA growth, driving over 20 basis points of margin expansion compared to the first quarter of last year." (Chairman & CEO Michael Petras) "Sterigenics delivered 6.1% constant currency revenue gro...
Earnings Call Insights: Sotera Health (SHC) Q1 2026 Management View "This morning, we announced a strong start to the year with 6.5% constant currency revenue growth and 6.9% constant currency adjusted EBITDA growth, driving over 20 basis points of margin expansion compared to the first quarter of last year." (Chairman & CEO Michael Petras) "Sterigenics delivered 6.1% constant currency revenue growth in the quarter, while Nordion grew constant currency revenue 25.8% and expand margins by over 290 basis points." (Chairman & CEO Petras) "Today, we are reaffirming our 2026 outlook provided during our February earnings call." (Chairman & CEO Petras) "On March 30, 2026, the Georgia State Court dismissed the remaining 5 bellwether cases as the plaintiffs could not prove general causation in the Phase 1 proceedings." (Chairman & CEO Petras) "In March, the private equity shareholders completed another secondary sale of existing shares, bringing our public float to approximately 90% of outstanding shares." (Chairman & CEO Petras) "For the first quarter on a consolidated total company basis, revenues increased by 10% to $280 million or 6.5% on a constant currency basis compared to the first quarter 2025." (Senior VP & CFO Jonathan Lyons) "Adjusted EPS increased to $0.18 per share, an improvement of approximately 29% from the prior year." (Senior VP & CFO Lyons) "Following a thoroughly planned Board-led succession process, the Board has appointed Alton Shader as Sotera Health's new Chief Executive Officer effective May 26." (Chairman & CEO Petras) Outlook "We expect total company revenue to grow to a range of $1.233 billion to $1.251 billion, representing 5% to 6.5% constant currency growth and an estimated 100 basis point foreign currency benefit." (Senior VP & CFO Lyons) "We expect adjusted EBITDA to improve to a range of $632 million to $641 million, representing 5.5% to 7% constant currency growth and an estimated 100 basis point impact from foreign currency." (Senior VP &...
Earnings Call Insights: Enlight Renewable Energy (ENLT) Q1 2026 Management view "In Q1, revenues and income increased 54% year-over-year to $200 million, while adjusted EBITDA reached $154 million, representing 58% growth year-over-year, excluding the impact of the sell-down of the Sunlight cluster." (Chief Executive Officer Adi Leviatan) "The U.S. became our largest geographic segment this quarte...
Earnings Call Insights: Enlight Renewable Energy (ENLT) Q1 2026 Management view "In Q1, revenues and income increased 54% year-over-year to $200 million, while adjusted EBITDA reached $154 million, representing 58% growth year-over-year, excluding the impact of the sell-down of the Sunlight cluster." (Chief Executive Officer Adi Leviatan) "The U.S. became our largest geographic segment this quarter, contributing 37% of total revenues following the ramp-up of Roadrunner and Quail Ranch." (Chief Executive Officer Leviatan) "During the quarter, we grew our U.S. portfolio that successfully passed system impact studies by approximately 2 factored gigawatt, reaching a total of 20 factored gigawatt" and "we started construction at CO Bar 3, the 475 megawatt PV phase of the CO Bar complex." (Chief Executive Officer Leviatan) "Q1 '26 delivered a strong start to the year" and "the company's total revenues and income increased to $200 million, up from $130 million last year." (Chief Financial Officer Nir Yehuda) "During the first quarter, Enlight continued to solidify its financial position, raising approximately $740 million" and "our cash and cash equivalents at the topco level increased to $709 million." (Chief Financial Officer Yehuda) Outlook "We are reaffirming our full year 2026 guidance. Revenues and income of $755 million to $785 million and adjusted EBITDA of $545 million to $565 million." (Chief Executive Officer Adi Leviatan) "We see a clear and credible path to more than $2.1 billion of annual revenue run rate by the end of 2028." (Chief Executive Officer Leviatan) "We do have the opportunity to safe harbor an additional 2 to 4 factored gigawatt in the next couple of months until basically the end of June" and "we're taking those decisions in the next couple of months." (Chief Executive Officer Leviatan) Financial results "This was composed of revenues from the sale of electricity, which amounted to $157 million" and "recognition of $43 million in income from tax ...
John Marriott and Michael Pyke respond to a report on a UCL study on classes grouped by ability As a retired modern foreign languages teacher, I read your report with interest ( Teaching in classes grouped by ability does not hamper progress of less able pupils, study finds, 29 April ). I struggled for years to devise lessons to cater for all abilities and came to this conclusion very rapidly. Tha...
John Marriott and Michael Pyke respond to a report on a UCL study on classes grouped by ability As a retired modern foreign languages teacher, I read your report with interest ( Teaching in classes grouped by ability does not hamper progress of less able pupils, study finds, 29 April ). I struggled for years to devise lessons to cater for all abilities and came to this conclusion very rapidly. Thank goodness our department only taught mixed ability for a year before introducing setting. In other subjects colleagues strove to maintain mixed-ability teaching until the end of key stage 4. Many lay people cannot differentiate between streaming, where students are taught all subjects at the same level in forms, and setting, where students from different forms are taught each subject in groups of similar ability. Had setting existed when I was at grammar school in the 1950s, I would have ended up in the top set for French and English and near the bottom in maths and science. Continue reading...
Luz Castano responds to a column by Zoe Williams on how gen Z think old age begins at 53 At 58, I read Zoe Williams’s column with a mixture of laughter and disbelief, and, I admit, a flicker of irritation ( Gen Z thinks old age begins at 53 – so I have only three months to go, 28 April ). If 53 is now considered the starting point of “old age”, what exactly am I meant to be doing? Planning my fune...
Luz Castano responds to a column by Zoe Williams on how gen Z think old age begins at 53 At 58, I read Zoe Williams’s column with a mixture of laughter and disbelief, and, I admit, a flicker of irritation ( Gen Z thinks old age begins at 53 – so I have only three months to go, 28 April ). If 53 is now considered the starting point of “old age”, what exactly am I meant to be doing? Planning my funeral? Retiring from joy? Williams captures something real about generational perception, but the conclusion deserves a gentle pushback. The idea that life sharply declines into fragility and caution in one’s early 50s is not just exaggerated, it’s unhelpful. It risks shrinking people’s sense of what remains possible. At 58, I am not winding down; I am still discovering, still moving, still interested in the world. Yes, perhaps I am slightly more aware of my knees than I was at 27, but I am also wiser about what truly matters and far less interested in living by someone else’s definition of limitation. Continue reading...
Donald Trump has launched a new operation, dubbed ‘Project Freedom’, to try to open the strait of Hormuz. Could it spark a re-escalation of the war with Iran and bring an end to the ceasefire? Lucy Hough speaks to the Guardian’s senior international correspondent Julian Borger Continue reading...
Donald Trump has launched a new operation, dubbed ‘Project Freedom’, to try to open the strait of Hormuz. Could it spark a re-escalation of the war with Iran and bring an end to the ceasefire? Lucy Hough speaks to the Guardian’s senior international correspondent Julian Borger Continue reading...
MPs drinking | Birds of a feather | Going Green | Andy Burnham | Dangerous moves I am sorry, Gaby Hinsliff, but I cannot defend MPs’ booze culture ( My advice to Hannah Spencer? Before calling out MPs’ boozing, try to understand the reasons behind it, 1 May ). As a retired nurse, there were times when my colleagues and I were working long hours under a great deal of stress, often making life and d...
MPs drinking | Birds of a feather | Going Green | Andy Burnham | Dangerous moves I am sorry, Gaby Hinsliff, but I cannot defend MPs’ booze culture ( My advice to Hannah Spencer? Before calling out MPs’ boozing, try to understand the reasons behind it, 1 May ). As a retired nurse, there were times when my colleagues and I were working long hours under a great deal of stress, often making life and death decisions. There is no excuse for drinking at work. Hannah Spencer was right to call it out. Patricia Howlett South Benfleet, Essex • Friends at Abberton reservoir recently encountered a group of women in a bird hide who gave a whole new meaning to the term “hen party”. All glammed up (including in bride-to-be regalia), they were sporting binoculars and taking the birdwatching very seriously, confirming the RSPB’s findings ( Gen Z leads birdwatching boom as more Britons reach for the binoculars, 1 May ). Jannet King Brighton, East Sussex Continue reading...