Royal Welsh College of Music and Drama, Cardiff Moving from Schubert through Chopin to Liszt, the young pianist brought deep interpretative insights Moving from Schubert through Chopin to Liszt, this recital by Alim Beisembayev – the Kazakh-born winner of 2021’s Leeds international piano competition – described an arc delineating the passionate surge of Romanticism over the span of 30 or so years ...
Royal Welsh College of Music and Drama, Cardiff Moving from Schubert through Chopin to Liszt, the young pianist brought deep interpretative insights Moving from Schubert through Chopin to Liszt, this recital by Alim Beisembayev – the Kazakh-born winner of 2021’s Leeds international piano competition – described an arc delineating the passionate surge of Romanticism over the span of 30 or so years from the 1820s to 1853. Beisembayev’s approach to Schubert’s Moments Musicaux, D780, was calm and understated, perhaps as a way of underlining the vast contrast with the Liszt yet to come. Using the fine acoustic of the Dora Stoutzker hall to his advantage, he created an intimacy where Schubert’s characteristic slipping in and out of major and minor modes was quietly evocative. Tellingly, the two Moments in F minor – No 3 where sadness and insouciance dance together and No 5 with its more dramatic outbursts – presaged the key of Chopin’s Fantaisie, Op49. Continue reading...
The VIX has climbed 41% in a single month, sitting at 26.95 and in the 93rd percentile of the past year’s readings. For retirement investors who felt last April’s volatility spike to 52.33, that environment raises a pointed question: is a smoother ride worth the cost of a slower one? iShares MSCI Global Min Vol ... The Low-Volatility Promise of ACWV Costs Investors 118% Over a Decade Compared to S...
The VIX has climbed 41% in a single month, sitting at 26.95 and in the 93rd percentile of the past year’s readings. For retirement investors who felt last April’s volatility spike to 52.33, that environment raises a pointed question: is a smoother ride worth the cost of a slower one? iShares MSCI Global Min Vol ... The Low-Volatility Promise of ACWV Costs Investors 118% Over a Decade Compared to SPY
RyanJLane/E+ via Getty Images Scary times, nowhere to hide In Q1 2026 a lot of things have been turned upside down. Unfortunately, not in a positive way. The unanimous consensus that the Wall Street analysts had for 2026 bringing new record high in the S&P 500 ( SPY ) has been increasingly replaced by a debate about potential recession. The interest rate path seems to be indicating an imminent u-t...
RyanJLane/E+ via Getty Images Scary times, nowhere to hide In Q1 2026 a lot of things have been turned upside down. Unfortunately, not in a positive way. The unanimous consensus that the Wall Street analysts had for 2026 bringing new record high in the S&P 500 ( SPY ) has been increasingly replaced by a debate about potential recession. The interest rate path seems to be indicating an imminent u-turn: i.e., cuts being priced out and replaced with higher and higher probabilities of hikes. Going into 2026 growth names such as Nvidia Corporation ( NVDA ), Amazon ( AMZN ) and Tesla ( TSLA ) already were under pressure as the capital was fleeing into value and high-quality areas of market. What has happened now is that the growth has remained on a declining trajectory with value ( VTV ) reversing the course and joining the party of negative repricing. The same applies to small-caps ( IWM ) and international equity ( SCHF ). The small-cap factor has lost its steam because of high-for-longer interest rate scenario. International equity has started to suffer because of stronger dollar and more tangible headwinds from soaring oil prices as most non US developed economies are net importers of oil and gas (or LNG). High duration or interest rate sensitive asset classes also have fallen under the chopping block. It is not only private credit ( BIZD ) and high-yield names ( PDI ) that have experienced unfavorable price dynamics (very logical given the risk-off mode). The pressures (mostly from elevated long-term interest rates) have spilled over to REITs ( VNQ ) and infrastructure ( BIP ) - irrespective of underlying asset quality. And, of course, anything that has to do with speculation and aggressive risk taking such as Bitcoin USD ( BTC-USD ), equity CLOs ( XFLT ), and silver ( SLV ) has massively sold-off. For prudent income investors (including retirees), who rely on portfolio cash flows (or are in the process of snowballing the necessary mass of income) the obvious issue n...
Rafael_Wiedenmeier/iStock Unreleased via Getty Images Amcor ( AMCR ) is a global leader in consumer packaging. Following its combination with Berry, it has fortified that position. The stock is trading at historically low multiples with a forward P/E ratio of 10x, and a juicy dividend yield of 6.5% , backed by a 69% payout ratio and a stable free cash flow stream. The integration of Berry is a lon...
Rafael_Wiedenmeier/iStock Unreleased via Getty Images Amcor ( AMCR ) is a global leader in consumer packaging. Following its combination with Berry, it has fortified that position. The stock is trading at historically low multiples with a forward P/E ratio of 10x, and a juicy dividend yield of 6.5% , backed by a 69% payout ratio and a stable free cash flow stream. The integration of Berry is a long and complex process that will take years to complete, but so far synergies have exceeded expectations. Also, the balance sheet is on a path to deleveraging, and the business is supported by a series of competitive advantages that do not constitute a wide moat but allow for a stable revenue base. All this leads me to conclude that the dividend is relatively safe. At current price levels, AMCR offers an attractive combination of high income through dividends and potential capital appreciation, making it a strong candidate for a defensive position in a diversified portfolio. I rate Amcor as a Buy. Global leader in packaging I have no idea what the AI world will look like, but I am certain that humans will still be buying packaged products. Millions of people around the globe come into contact with packaging produced by Amcor every single day. This is due to the global footprint of the company, which, following the $8.4 billion all-stock merger with Berry Global that closed in April 2025, operates 400+ locations in 40+ countries. Amcor generates around $23 billion in revenue , of which 51% comes from North America, 28% from Western Europe, and the remainder from emerging markets. The firm’s products are segmented into flexible packaging, representing 57% of revenue, and rigid packaging, the remaining 43%. For multinationals like Coca-Cola ( KO ), PepsiCo ( PEP ), or McDonald's ( MCD )—all of which are AMCR’s clients—working with smaller regional packaging manufacturers is not a viable option because they require high and consistent quality across all geographies. This underpi...
Investors are getting carried away with bets on higher U.S. interest rates, warning that markets are misreading how the Federal Reserve is likely to respond to an oil-driven inflation shock, according to Goldman Sachs. Traders have rapidly shifted expectations in recent days as surging energy prices, rising import costs and intensifying stagflation fears rattled global markets. At one point Friday...
Investors are getting carried away with bets on higher U.S. interest rates, warning that markets are misreading how the Federal Reserve is likely to respond to an oil-driven inflation shock, according to Goldman Sachs. Traders have rapidly shifted expectations in recent days as surging energy prices, rising import costs and intensifying stagflation fears rattled global markets. At one point Friday, futures markets implied a greater-than-even chance that the Fed could raise rates by the end of 2026, according to the CME Group's FedWatch tool. Those odds fell back to about 14% by Monday morning. "The market has priced a much larger hawkish shock than historical experience would suggest," strategist Dominic Wilson wrote in a note. "We think the market is mispricing the policy distribution now, though the 1990 experience suggests the market could struggle to reverse that properly while oil prices are rising sharply." The shift in expectations has been fueled by a surge in global Brent crude prices , which have climbed above $115 a barrel as the Iran war drags on, compounding inflation concerns already heightened by U.S. tariffs. The backdrop has prompted some investors to question whether the Fed might be forced back into tightening mode despite signs of slowing growth. @LCO.1 mountain 2026-03-02 Brent in March Goldman said history offers a cautionary parallel. During the 1990 oil supply shock — which shares similarities with the current environment — markets initially pushed yields sharply higher, pricing in a hawkish policy response. Ultimately, however, the Fed moved in the opposite direction, cutting rates as economic conditions deteriorated. "So we have precedent for the market leaning heavily on the risk of higher rates, and demanding a sizable risk premium, even though the Fed ultimately cut rates sharply in that episode," the strategists said. President Donald Trump offered investors hope that an end to the war against Iran is drawing near. While the president a...
Higher oil prices could breathe new life into offshore drilling and support a comeback for Airbus Helicopters’ ( EADSF )( EADSY ) H225 Super Puma, Reuters reported Monday, citing the company’s departing chief executive. The aircraft’s reputation suffered after a 2016 crash in Norway that led to a six-month grounding and raised safety concerns. Since then, the redesigned model has returned to servi...
Higher oil prices could breathe new life into offshore drilling and support a comeback for Airbus Helicopters’ ( EADSF )( EADSY ) H225 Super Puma, Reuters reported Monday, citing the company’s departing chief executive. The aircraft’s reputation suffered after a 2016 crash in Norway that led to a six-month grounding and raised safety concerns. Since then, the redesigned model has returned to service in markets such as Brazil, Nigeria and parts of Asia, though operators in the North Sea remain cautious. Airbus Helicopters CEO Bruno Even said customers will ultimately determine adoption, but he expects the H225 to gradually regain share in offshore operations over time. The outlook is tied in part to rising oil prices, which have climbed sharply amid geopolitical tensions involving Iran. Higher prices tend to make expensive offshore projects more viable, potentially increasing demand for long-range transport helicopters. While the industry has recently favored smaller aircraft, Even suggested the H225 could benefit as aging models such as the Sikorsky S-92 approach replacement. He also noted that military demand has helped sustain the H225 production network. Supply chain conditions have improved, with fewer parts shortages than in recent years, though some suppliers are still struggling and require attention. Even is stepping down after eight years leading the division, during which orders doubled. He will be succeeded by Matthieu Louvot. During his tenure, Airbus introduced the H140, its first new helicopter in a decade, aimed at eventually complementing and partly replacing the widely used H135. Both models are expected to remain in service for now. The company continues to explore future designs, though Even declined to discuss specific development programs, suggesting that projects with coded names are intentionally kept confidential. He emphasized that demand remains strong for current models such as the H145, even as Airbus invests in innovation for the next ge...
Five miles from their former city zoo, seven gorillas are exploring their new ‘African forest’ home It has been an eventful few months for Bristol’s gorillas. The troop made headlines across the world when an urban explorer snapped pictures of them looking downbeat in their old, almost deserted home near the city centre. Then they were moved – under armed police escort – to a new out-of-town base ...
Five miles from their former city zoo, seven gorillas are exploring their new ‘African forest’ home It has been an eventful few months for Bristol’s gorillas. The troop made headlines across the world when an urban explorer snapped pictures of them looking downbeat in their old, almost deserted home near the city centre. Then they were moved – under armed police escort – to a new out-of-town base and promptly suffered a shock bereavement. On Monday, in warm spring sunshine, the western lowland gorillas were to be found exploring a new woodland habitat at Bristol Zoo Project, five miles from their former city home. Continue reading...
Uber Technologies Inc. has acquired the chauffeur booking app Blacklane, the company’s latest move to court a high-end clientele. The deal will expand Uber’s offerings targeting business executives and wealthy consumers, a fast-growing segment of the business, the company said in a statement on Monday. The transaction is expected to close by the end of 2026. Financial terms were not disclosed. Com...
Uber Technologies Inc. has acquired the chauffeur booking app Blacklane, the company’s latest move to court a high-end clientele. The deal will expand Uber’s offerings targeting business executives and wealthy consumers, a fast-growing segment of the business, the company said in a statement on Monday. The transaction is expected to close by the end of 2026. Financial terms were not disclosed. Competition is heating up at the luxury end of the ride-hailing market. Uber just a few weeks ago introduced a new chauffeur ride option called Uber Elite. Last week, London-based Wheely, which specializes in serving business elites and high net worth individuals, announced that it is expanding to New York City, its first US market. And in a move similar to the Blacklane acquisition, Lyft Inc. bought TBR Global Chaufferuing five months ago for $110 million. Read More: Luxury Ride-Hailing App Wheely Expands to NYC, Targeting Elites Berlin-based Blacklane, whose backers include Mercedes-Benz Mobility AG , operates in more 500 cities across more than 60 countries through a mobile app and web booking platform. The purchase is set to bolster Uber Elite , which the rideshare giant is so far offering to frequent Uber Black riders and corporate account customers in Los Angeles and San Francisco. It is planning to expand the service soon to New York City. Uber’s premium ride options, which include Uber Comfort, SUV and Black, already account for more than $10 billion in annualized gross bookings, the company said last year, representing a 35% increase from the prior year. Blacklane was founded in 2011 and was valued at more than €500 million ($574 million) after a 2024 funding round, Bloomberg reported at the time. Its investors include Tasaru Mobility Investments, a subsidiary of Saudi Arabia’s Public Investment Fund, as well as Gargash Enterprises LLC, Al Fahim Group and RI Digital Ventures. Read More: Chauffeur Firm Blacklane Draws Saudi Arabia’s PIF in New Round