| FTSE 4W 1.5M | FTSE 4W 1.5M
1.
20
•
FTWaldand
25 June/26 July 2020
金融时报 股票服务
主市场
| 30 March | | 价格 | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | | 1st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 2nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 3rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 4th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 5th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 6th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 7th
Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 8th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 9th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 10th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 11st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 12nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 13rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 14th
Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 15th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 16th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 17th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 18th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 19th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 20th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 21st
Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 22nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 23rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 24th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 25th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 26th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 27th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 28th
Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 29th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 30th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 31st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 32nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 33rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 34th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 35th
Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 36th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 37th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 38th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 39th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 40th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 41st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 42nd
Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 43rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 44th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 45th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 46th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 47th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 48th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 49th
Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 50th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 30 March | | Price | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | | 1st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 2nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 3rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 4th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 5th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 6th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 7th
Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 8th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 9th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 10th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 11st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 12nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 13rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 14th
Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 15th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 16th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 17th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 18th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 19th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 20th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 30 March | | Price | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | | 1st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 2nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 3rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 4th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 5th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 6th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 7th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 8th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 9th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 10th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 11st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 30 March | | 价格 | 第一季度 | 第二季度 | 第三季度 | 第四季度 | | 第一季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第二季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第三季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第四季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第五季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第六季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第七季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第八季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第九季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第一季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第二季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第三季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第四季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第五季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第六季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第七季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第八季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第九季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第十季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第十一季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第一季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第二季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第三季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第四季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第一季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第二季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第三季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
AJM
| 30 March | | 价格 | 第一季度 | 第二季度 | 第三季度 | 第四季度 | | 第一季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第二季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第三季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 30 March | | 价格 | 第一季度 | 第二季度 | 第三季度 | 第四季度 | | 第一季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第二季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第一季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第二季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第三季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
投资公司[{"box_2d": [11, 516, 246, 803], "label": "table", "caption": " | 30 March | | 价格 | 第一季度 | 第二季度 | 第三季度 | 第四季度 | | 第一季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 第二季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第三季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第四季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第五季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第六季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第七季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第八季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第九季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第十季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第十一季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第十二季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第十三季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第十四季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第十五季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第十六季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第十七季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第十八季度"}]
Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第19季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第20季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第21季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第22季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第23季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第24
季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第25季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第26季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第27季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第28季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第29季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第30
季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第31季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第32季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第33季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第34季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第35季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第36
季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第37季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第38季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第39季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第40季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第41季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第42
季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第43季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第44季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第45季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第46季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第47季度 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 第48
Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 49th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 50th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 51st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 52nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 53rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 54th
Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 55th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 56th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 57th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 58th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 59th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 60th
Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 61st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 62nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 63rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 64th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 65th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 66th
Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 67th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 68th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 69th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 70th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 71st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 72nd
Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 73rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 74th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 75th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 76th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 77th Qtr | 1,000,000 | 1,000,
22
25 June/26 July 2024
FPWeekend
Lex.
在阴郁时刻，瑞安航空或许能笑到最后
P
尽管其服务方式可能备受诟病，但瑞安航空在性能排名方面通常表现良好。然而，在股价方面，这家廉价航空公司是欧洲相对低迷的代表。投资者担心燃料价格上涨，但低估了资产负债表的实力在接下来的发展中可能成为一个区分因素。
低成本航空公司正处于困境之中。由于票价疲软导致其在周一下调了利润预期，瑞安航空的股价下跌了 7 per cent，使其今年累计下跌近五分之一——这与竞争对手 Wix de 相当。被美国金融公司关注收购目标的 Easypit，以及 Combitab 表示，其已采取减价措施以刺激需求。
相比之下，像 DSI 和法航-荷航 (Air France-KLM) 这样的大型全服务竞争对手的股价则在上涨。高端长途旅行的需求应比廉价短途旅行更具韧性。廉价航空公司无法通过高利润的高端产品来抵消上涨的燃料成本。燃料在旗舰航空公司的成本中占比略高于五分之一，而对于 4th of the 1st 而言则约为三分之一。根据 Bernstein 的数据，欧洲的旗舰航空公司受益于对中东竞争对手的“替代效应”，据 UBS 称，阿联酋航空的长途运力今年下降了超过十分之一，而卡塔尔航空则下降了五分之一。与此同时，从欧洲出发的总部位于亚洲的航司运力上涨了 6 和 15 per cent 之间，而整体长途增长仅为 5 per cent 略多。
在今年，所有欧洲航空公司都倾向于削减运力，因为夏季是它们赚钱的季节。财务套期保值也抵御了飙升的能源成本，但这将逐渐失效。如果今年晚些时候燃料价格依然高企，那么飞行计划将导致更大的亏损。
这时瑞安航空应当展现其优势。对于像 Wix de、Li、Alkhana 和法航-荷航这类债务较多的承运商来说，承受损失将要困难得多。它们在两点之前无法偿还债务，虽然情况尚在可控范围内，但限制了它们通过降低价格来扩大市场份额的能力。目前无债的 Easypit，如果其私募股权收购得以实现，可能会处于一个完全不同的位置。
冬季，当度假游客难以寻觅时，所有航空公司都将面临压力。高燃料价格将使情况变得更加艰难，但投资者似乎忽略了一点：对于那些能够坚持经营的公司来说，这可能也是一个通过扩张来获取回报的机会。
汽车制造商是一个罕见的例子，证明关税是代价最小的选择
保护主义很少是应对竞争威胁的正确方式。但人们很容易理解，为什么它看起来比让国内产业被击垮要好。美国汽车制造商的盈利能力表明，至少在汽车这个行业，关税的诱惑力依然存在。
通用汽车（General Motors）本周报告第二季度营业利润增长 30 per cent，这得益于美国人对高利润皮卡和 SUV 的需求。分析师预计福特（Ford）今年的营业利润将增长三分之一。这两大巨头都受益于美国对中国电动汽车征收 100 per cent 关税的保护屏障。
相比之下，欧洲汽车制造商不仅在中国，而且在日本以及其本土市场都在失去份额。根据欧洲汽车制造商协会（European Automobile Manufacturers' Association）的数据，中国汽车制造商在 欧盟 (EU) 的新车注册量中占比超过 10 per cent。因此，大众汽车（Volkswagen）第二季度的营业利润下降了十分之一，而去年该利润已减半。根据 Tyshevsky 的预测，到 2023, 年，德国近三分之一的汽车制造能力预计将消失。
反对关税的传统论点依然适用。它们会增加国内消费者的产品成本，并为未来积累问题——受保护的产业很容易变得慵懒且缺乏竞争力。当壁垒被取消时（无论如何总有一天会被取消），它们很容易在竞争中落败。本可以更好地投资于国家真正具有优势部门的时间和资本被浪费了。
在涉及电动汽车方面，美国的汽车制造商确实在很大程度上放慢了步伐。美国在电池等关键部件上能赶上中国，这几乎是不可想象的。
此外，在美国制造汽车的成本将高于中国——尤其是在初期规模有限的情况下。但至少美国汽车制造商在赚钱，并可以建立一个缓冲垫，以吸收最终面对激烈竞争时可能产生的损失。
除了贸易关税，中国的“联网汽车”还面临着特朗普政府时期开始实施的国家安全限制。保护主义很少是没有代价的。但就美国汽车制造商与其欧洲同行相比而言，很难看到多少负面影响。
AMC 的资产负债表之征途令奥德赛也为之战栗
奥德赛花了 20 年的艰苦跋涉才回到伊萨卡。电影院连锁公司 AMC 娱乐公司那位口才绝佳的首席执行官亚当·阿隆 (Adam Aron) 在 10 年后面对的企业征途看来同样艰巨。但克里斯托弗·诺兰 (Christopher Nolan) 电影的票房成功，至少为他提供了一股有利的顺风。
AMC 表示，这部《奥德赛》式的作品在首映周末吸引了全球无数人们走进电影院。其几家旗舰影院全天候营业。这为该集团的股价提供了助力。但即便如此，其在 Efex 的市值仍被 Lascitz-gemain 所掩盖。
stand date plot of Effex。正如奥德赛在 2023 和 Charly Idris 中所周旋的那样，阿隆近年一直在授权复杂的、最后时刻的努力以防止 AMC 破产。
在美国，由于低廉的价格导致损失迅速扩大。根据公司文件，其股票数量已从 2019 年的约 10mm 增加到如今的近 900mm。在此期间，尽管市值有所增加，但 AMC 的短期价格下跌了 99% 以上。
即便以低价出售股权，由于规模太小，这仍是一家永久处于困境的公司。但对于一位将改善业绩视为胜利的 CEO 来说，早期投资者所承受的稀释程度至关重要。
AMC 自 2020 年以来近 $400m 的股权发行包括所谓的“NPE”优先股单元——这是给予其散户股东狂热追随者的特权——最终转换为普通股。此外还有所谓的“市场价”发行，即每日出售小额股票。
阿隆还与各种勇敢的交易商达成协议，出售可根据对他们有利的条款转换为股权的债券，并争取部分狂热追随者的支持，以挪动公司资产并针对美国通胀筹集更多债务。
与奥德赛不同，当阿隆的公司最终抵达彼岸时，它可能已不再存在。2018, 美国总票房收入近 $1.5 billion。2023, 该数字仅略低于 $90m。这位 AMC 负责人能够说服华尔街和主流社会为其刚刚宣布的、约束较少的损失提供资金，这确实令人惊叹。但极有可能的是，就像夏天受北欧启发而推出的 Blackthorpe 价格一样，这在很大程度上只是旧故事换了新包装。
日经亚洲 (NIKKEI Asia)
亚洲世纪之声
随着干旱席卷该地区大部分地区，西欧 6 月经历创纪录的低土壤湿度
来源：UNHCR
世界天气研究组中来自 12 个欧洲国家的调查发现，长期土壤模式差异很大，西欧在年初时的冬季降雨量比东欧多。
但从 5 月开始的一系列早期业务使得干旱的迹象更加迅速，因为温暖的空气使土壤干燥得更快。
这项关于今年趋势的研究尚未经过同行评审，但发现，在 4 月至 6 月的研究期间，整个西欧的降雨减少并不显然是由气候变化驱动的。
但全球变暖引发的极端高温使其可能性增加了约 80 倍。研究结论称，蒸发潜力正在增加。
订阅《气候更新》(The Climate Update)。由世界天气解释。
获取您在亚洲取得成功所需的商业洞察
访问 asia.nikkei.com
货币主义在美国政策制定辩论中卷土重来
布伦丹·格里利 (Brendan Greeley)
远瞻 (The Long View)
根据他之前在哈德逊湾资本管理公司（Hudson Bay Capital Management）的职位信息，斯蒂芬·米兰（Stephen Miran）于 5 月离开了他在美联储的临时任命。本月，他在为哈德逊公司撰写的一篇与经济学家纽里尔·罗林克（Neuriel Roehlink）合著的论文中，宣布了他的新项目：重新激活货币主义的适用范围。
美联储新任主席凯文·万兹（Kevin Wands）已经宣布了他的贸易力量的妥协，例如如何制定货币政策的部分战略。在杰伊·鲍威尔（Jay Powell）任期内，美联储也曾试图审视自身及其根源，但万兹的计划承诺将在一个情况可能真正发生变化、任何学说都有机会的时代里，采取更具野心的行动。
货币主义享有某种令人质疑的荣誉：它既是一个具有悠久历史的严谨框架，也是人们在思考货币问题时最可能产生的认知方式。最基本地说，货币主义认为经济中的货币供应量及其变动速度对通货膨胀具有共同影响。更多的资金，流动得更快，可能会引发更多的通货膨胀。
这种观点可以追溯到早期的货币主义，例如 34 世纪的瓦拉曼斯（Valamance），那里的学者注意到物价上涨，并思考这是否与当时来自墨西哥和安第斯山脉的白银流入，或随后的信用扩张有关。在 20 世纪初，经济学家欧文·费舍尔（Irving Fisher）认为，大萧条早期的银行关闭导致货币供应量崩溃，引发了快速的紧缩，使现有债务进一步恶化，进而给银行带来了更大的压力。
大萧条之后，美联储开始对来自新银行贷款的货币供应量进行统计。1963 年，米尔顿·弗里德曼（Milton Friedman）和安娜·施瓦茨（Anna Schwartz）出版了《美国货币历史》（A Memory History of the United States），这是一部自内战以来最详尽的年度货币供应记录。弗里德曼和施瓦茨坚信，美联储未能弥补大萧条期间银行资产负债表上缺失的资金，这一观点给 20 世纪 70 年代麻省理工学院（MIT）的一名博士生留下了深刻印象。
弗里德曼主张宣布一个稳定的货币供应增长率，在 20 世纪 80 年代初，美联储甚至一度将货币供应量作为其可以控制的变量目标。在 2008 年的一次演讲中，当时已成为美联储主席的伯恩斯坦（Bernstein）指出，美联储最终决定改为将通货膨胀作为目标。因为要衡量所有波动的货币总额实在太困难了。
在完全放弃该学说后，美联储给自己布置了作业，然后又给自己打分
可以说，且很难预测其增长速度会有多快。
而且，货币与通货膨胀之间的经验关系并不明确，这意味着美联储没有可以支撑其实践的理论。伯恩斯坦（Bernstein）得出结论，“在美国的背景下，过度依赖货币总量来快速制定政策似乎是不明智的”。这些话听起来很委婉，但在央行行话中，这几乎相当于他亲手终结了该资金流。在 2008 年，货币主义已经死亡。
米兰（Miran）在为哈德逊（Hudson）撰写的论文中指出，国会已经指示美联储关注货币供应量。他是正确的。美国明确指示其央行要“维持货币和信贷总量的长期增长，使其与经济增加生产的长期潜力相称”。
这在法律中是以“应当”（shall）一词表述的，这意味着美联储必须执行。
但它并没有这么做，而是选择关注随后的清单，即维持物价稳定和充分就业。在完全放弃货币主义后，美联储给自己布置了作业，然后又给自己打分。
米兰并不是在主张美联储应该再次将美国经济的货币总量作为目标，他关注的是不同种类货币的聚合——实物货币、支票存款、国债。这些都被称为“distrust”，是以法国经济学家弗朗索瓦·德里斯特（François Driest）命名的。每种 dioxin 都有不同的“货币区”（moneyzone）——即不同的流动性。实物货币具有完美的流动性，国债同样如此。
与弗里德曼（Friedman）的货币总量不同，dioxin 提供了米兰所称的关于哪些类型的货币可能导致通货膨胀的“全面信息”。而且，观察不同种类的货币确实为以下现象提供了一个合理的解释：为什么美联储在储备金增加的十年期间未能激励通货膨胀，而财政部在 2022 年通过向消费者推送存款而加剧了通货膨胀。
Wands 建议推测美联储需要更多地关注货币供应量，并且完全抛弃 dioxin 货币主义是一个错误。顺便提一下，Wands 新银行力量的负责人之一托马斯·萨金特（Thomas Sargent），是一篇影响力巨大的论文《一些令人不快的货币主义算术》（Some Unpleasant Monetariat Arithmetic）的共同作者，该文论证了货币主义的局限性。
然而，即便美联储不采用米兰的 dioxin 方法，它起码应该开始密切关注所有不同种类货币和信贷的增长——正如法律已经要求的那样。
布伦丹·格里利（Brendan Greeley）是《全能信仰：世界上最强货币的 200 年》（The Almighty Belief: 200 Years of the World's Most Powerful Money）一书的作者。
$1.15 周六下午
他们纯粹是出于好奇而来的。
他们会戏弄 Slitting Moon Mornings
那是维持最昂贵的时刻
但他们在中途停了下来。
被一组传奇的不同之辈，
而现在他们无法让他们离开舞池。
第2代技术
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2016年7月22日周六 / 7月24日周日
风格 | 旅行 | 书籍 | 艺术
生活与艺术
FTWeekend
尼古拉·贝内蒂 (Nicola Benedetti)
在爱丁堡艺术节
操纵弦线
艺术版 12
巴斯克速览
跳过圣塞巴斯蒂安，
直奔翁达里比亚
旅游版 2
赞美普鲁斯特
为何他的巨著
在今日依然重要
生活版 2
几个月前，当 Anthropi 邀请我前往旧金山时，我既感到好奇，又立即产生了怀疑。这究竟是为了什么的最后一周，来自该学校，以及该学校的历史，时间非常短，时间非常短，时间非常短，时间非常短，时间非常短，时间非常短，时间非常短，时间非常短，时间非常短，时间非常短，时间非常短，时间非常短，时间非常短，时间非常短，时间非常短，时间非常短，时间非常短。
神学家和哲学家习惯于被视为无关紧要。你习惯于在社会几乎不给予认可的情况下，坚信其重要性地从事自己的工作。你出现在那个场合，准备好地解释为什么这些研究人类所面临最根本问题的学科依然至关重要。
当我上大学时，我选择学习神学被认为充其量是古怪，最坏的情况则是悲剧。那是第一分水岭和激进科学家的时代。“神学家的成就没有任何作用，不影响任何事情，没有任何意义，”生物学家理查德·道金斯 (Richard Dawkins) 在周围写道。“是什么让人们认为‘神学’是一门学科？”
但那是 20 世纪 90 年代，而我们生活在不同的时代。人们在他们周围过于紧绷的社会和生态结构中，紧迫地提出根本性问题。在某种程度上，这里成为了信仰领袖、哲学家和神学家，与技术专家和企业家之间一次出乎意料的汇合空间。
在收到邀请几周后，我听说 Anthropi 的代表面对一群激进的学生和教职员工，传达了一个令人惊讶的信息。他们说，人工智能 (AI) 发展的前沿不在于计算机科学，而在于道德和精神反思，我不禁在想，这在那些“自由之魂”那里产生了怎样的反响。
我不想谈论 Claude，我想谈论权力与问责
那些研究生们看到他们的资产变成了资格证明。
而我更担心，这里可能为人文科学隐藏了什么样的诱惑。我的一些学术同行正被吸引进来，或许是被关注所谄媚，或者被兴奋感所吸引。工业界究竟想要回报什么？
在与 Anthropi 的人员交谈时，我不需要解释或证明我的工作。我们什么也没做。但他们的一些问题对我来说完全跑题了。AI 是否是一种需要新隐喻的新实体？一个大语言模型拥有“性格”意味着什么？这应该如何实现？Anthropi 的 Claude 可能会遭遇怎样的冲突或伤害？
但我不想谈论 Claude。我想谈论新的事物，谈论成瘾与干预，谈论权力与问责。我一点也不认为 AI 需要新的隐喻，而我参加的这次“独家简报会”中所说的任何内容都没有让我改变主意。但当我试图转移话题时，遇到了阻力。我担心，在这种希望引起人们关注 Claude “地位”的愿望背后，隐藏着一种对某种洗礼的渴望，一种道德和智识上的信用票据。
我被对话者表现出的明显诚意所打动，而这应当是人们在行动和尊重时无法避免的开端。但如果人文科学仅仅按照技术产业设定的条款来参与，那么它们试图通过人工智能公司的关注来恢复其地位，这将毫无意义。在这种情况下，它们将以一种完全错误的方式变得“重要”。
当我告诉 Anthropi 的对话者我试图避免与大语言模型（LLMs）接触时，他们的反应是惋惜的：也许我只是与它们共处的时间不够长！但当他们谈到 Claude 时，眼中闪烁着光芒。我突然意识到，他们处于一种兴奋之中。就像皮格马利翁一样，他们爱上了自己的创造物。
人工智能对道德的追求
该行业正在争取神学家和哲学家。但作者 Carmody Grey 写道，它问错了问题。
插图：
Joanie Gault
在我开始这些对话后不久，Anthropi 的共同创始人之一 Chris Olah 在教皇利奥关于人工智能的信函《Magnifica Humanitas》的发布会上发表了演讲，强调了天主教会和其他道德思想共同体所扮演的不可替代的角色。
在拥挤的人工智能评论领域，《Magnifica Humanitas》脱颖而出有两个原因。首先，它不仅仅是某个政府、专家组或学术委员会的看法。它是一个稳定且连贯的道德推理传统的最新补充，代表了全球约 17.8% 的人口，因为它提供的与其说是新的主张或建议，不如说是一种风格或方法。它超越了当代许多道德思想的狭窄菜单——功利主义，以及可选的康德主义和德性伦理学——《Magnifica Humanitas》将人工智能的伦理框架置于关于人类生命目的之更深层导向的下游。我们在如何设计和使用人工智能的共同决定中所面临的，正是我们人性本身的意义。
“天主教社会教义”的传统正式始于 1891 年，当时教皇利奥十三世（在我们目前的论文手稿中）写了他的开创性信函 Bernie Swanson ，“关于事物”以及“资本与劳动力”。他的主题是工业革命中出现的阶级冲突、新形式的贫困和政治分裂。在 Bernie Swanson 中，利奥十三世开创了天主教社会教义独特的风格，既非“左”也非“右”，既非“进步”也非“保守”。它试图在超越这些二元对立的同时参与政治。自此以后，每篇论文都在关于工作意义、经济正义、家庭生活和全球发展等多样化主题的通谕中留下了独特的印记。虽然在天主教社会教义的背景下，《Magnifica Humanitas》并不罕见，但令人惊讶的是，这种独特的道德反思体裁在公共话语中引起了如此强烈的共鸣。在通谕发布后，评论者们开始认真地围绕“成为人类意味着什么”来构建人工智能的讨论，而这种方式在过去可能会被认为过于沉溺。人们能明显感觉到，这些问题现在被公开讨论是一种解脱。
Anthropi 与梵蒂冈之间显而易见的合作，符合其将自己塑造为一家寻求让行业遵守更高标准的、值得信赖的人工智能公司的自我呈现。但尽管名称如此，它并不是一个公益或慈善组织。创始人承诺捐出其个人财富的 80% 并不改变一个赤裸裸的现实：它的存在是为了销售产品。在最近的一次会议上，专家们被邀请分别给出人工智能的定义，小组讨论中的神学家将其定义为：“这是一种推销商品的方式。”
“人工智能可解释性”领域是 Anthropi 研究计划的关键部分，科学家们在该领域中“深入研究”LLINs 以了解内部情况。
说计算机在“思考”纯粹是不真实的。是人类在思考，并使用计算机。
该公司定期发布极具启发性的论文，本月的一篇论文声称展示了 Claude 的“内部推理”。“我们发现了内省的证据，”Olah 在通谕发布会上说。“我们发现了在功能上镜像了喜悦、满足、恐惧、悲伤和不安的内部状态。我不知道这意味着什么，但我认为这值得持续地进行认知失调研究。”
针对此类主张的哲学回应，必须在政治和隐喻层面都保持敏锐。近期从心理学到管理研究等多个学科的研究证明了一个直觉上显而易见的事实：人工智能越拟人化，我们就越容易将其视为人类。牛津互联网研究所的 Lisa Eliasson 和 Ralph Schroeder 在法律期刊《Leaders》中指出，一个拟人化的（“anthropi”）人工智能不仅显得更真实，而且更容易推向市场。他们问道：“为什么要叫它‘Claude’？考虑一下这个名字的情感共鸣。‘Claude’听起来很友好，带有淡淡的法国风情，有教养——甚至值得信赖。”如果同一个模型被命名为“Xi”、“Chalmic”或“算法模型单元 72”，我们将会有怎样的反应？
接第 2 页
2026
致：10月4日
金匠展 (GOLDSMITHS' FAIR)
自：9月24日
伦敦市，金匠展
goldsmithsfair.com
2
FY 周末版
2014年6月25日 2014年6月
生活
长期以来，我总是在早些时候前往伦敦南部。在那个寒冷的二月夜晚，吸引我前往那里的是一个读书会，但目的并非为了读最新的丑闻小说。不，我们 15 个互不相识的人，坐在 Ezekiel's Bookings 狭小后房里摇摇欲坠的椅子上，共同研读 20 世纪最完整、最节俭、最具影响力且最散漫的著作。那就是马塞尔·普鲁斯特的《追寻逝去的时光》（la recherche du temps，1913-27），或者在英文中常被译作《在搜寻我们的时光中》（In Search of our Time）。
全书七卷，共 1,200 个单词（注：此处原文为words，可能为OCR错误），段落可长达数页，且包含大量的哲学论述，读起来十分艰巨，它是一部来自另一个时代的遗作，如今在 20 世纪 70 年代中生存。
尽管如此，它对从 8 月 8 日（注：原文为8th 8th issue，可能为OCR错误）到第一次世界大战期间巴黎社会的全景描绘，始终能以同等的深度与虔诚地引起共鸣。在我对这部《搜寻》的探索中，穿过它那光彩夺目的沙龙、海边的小镇和神秘的圈子，经历了激烈的纠葛、爱情故事以及飞机到来时那出人意料的震撼，我渐渐意识到，这部小说对于我们国家的动荡局面而言是至关重要的。
读书会里有各种类型的人：沉默的观察者，以及那些总爱说“当你读到第 5 卷时就会明白”的万事通。
起初，我是那些轻视者之一。第一卷以一个冗长的片段开始，叙述者（在小说的大部分时间里都未透露姓名）回忆起他担心母亲可能不会给他一个睡前吻的恐惧。在他那迂回、元叙事的方式中，普鲁斯特最终揭晓了叙述者的名字是……马塞尔。当他将记忆闪烁的人类浸入他的吻中时，我们随他一起经历了一场漫长的——极其漫长的——旅程，穿梭于梦幻般但依然在家中死寂的摸索之中。
但当我们读到叙述者在下半部分观察到的，社会名流罗杰·查尔斯·斯旺（Roger Charles Swann）与格雷伯爵（countenay John de Grey）之间复杂且不对等的恋情时，我的兴趣被重新唤醒了。然后，那第一次，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个
到目前为止，读书会已经见面 5 年了，尽管我提前完成了全部七卷的阅读——其中包括叙述者对他父亲临终前近乎完美的记忆。每次早晨的交流都流畅自然，讨论也不像海边小镇书中那些惊喜聚会那样古怪或激烈。我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个非常好的人，我是一个
我们是一个多样化的群体，从年轻的公务员到公民，但同时也相当
TikTok 时代的普鲁斯特
这位法国作家的七卷巨著对于读书会来说是一个具有挑战性的选择——但乔希·斯佩罗（Josh Spero）认为，书中对人类心理的唤起，使其成为了在这个注意力匮乏时代必读的作品。
皮埃尔-奥古斯特·雷诺阿 1875 年作《埃德蒙·马莱肖像（阅读者）》
马莱（阅读者）
spect, which is got for a book with a volume
explaining homosexual love titled 'Isolans and Glamour'. There are book-group types: the selfish inter-
vature, the kind of the book, the
spect, the kind of the book, the
aspect, the kind of the book, the
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25 June/26 July 2008
金融时报 周末版 (FT Weekend)
3
生活 (Life)
英国气象局 (Met Office) 负责人领导着一个庞大的气象学家网络，负责预报英国日益极端的天气。在位于埃克塞特总部的、与其应对气候变化相契合的章鱼雕像旁，她与气候领袖们讨论了今年夏天的多次热浪、针对净零排放的抵制情绪——以及为什么绿色工程并非万能药。
即使按照英国天气不稳定的标准来看，这几个月也至关重要：最常见的情况，但并不多见。英格兰最炎热的 6 月。气温超过 500 的天数最高。随着该国对今年热浪的抵制——这也是记录在案的最长热浪之一——我尝试前往德文郡，去见那位面对发热却显得过于疲弱的女性。
从 1991 年到 1996 年，作为英国国家气象服务机构——英国气象局最创新的成员，她也在 2008 年经历了转变。作为首位担任该职务的女性，在我到达时她已经在席位上，指导一些学生进行学习和培训。
英国气象局庞大的网络，包括数百名女性、章鱼以及 1,200 名科学家、工程师和气象学家，已成为日常生活的关键，在引导政府政策、帮助农民管理农作物以及通过资金投入监控全球温度方面发挥着作用。该机构每天处理约 2,000 个全球数据点，以预报天气并监测气候变化情况。
恰如其分地——而且这在英国经常如此——一场关于预算的交谈伴随着一些关于天气的评论。在 29°C 的气温下，恩德斯比（Endersby）说：“现在天气相当宜人”，尤其是在经历了最近几个月经常出现的剧烈高温之后。
“不仅仅是在整个欧洲。这关乎未来——目前正处于巨大的热浪之下——而且 2012 年也发生过一次，”她说。“没错，变暖正在发生，而且它是全球性的。”
一些科学家暗示，葡萄牙和西班牙在今年夏天可能会达到创纪录的 100 度：而日本明天的气温则飙升至 400 度以上：那是 1991 年的情况。
我们在 Topsham 的 The Galley 餐厅敲门，这是一家海边餐厅，距离位于埃克塞特（Exeter）的英国气象局总部约 15 分钟车程。餐厅引人注目的蓝色建筑俯瞰着米粒般的狭缝。室内挂着海洋绘画，摆着黄色椅子，墙壁被刷成蓝色和白色。恩德斯比的着装与这里的装饰十分契合，穿着一件印有蓝色蝴蝶的白色裙子，条纹长裤和白色凉鞋。
“我从没问过你们是否提供鱼类，”她说，并补充道她喜欢来这里进行一对一会议。我向她保证我确实提供。作为前菜，我决定点贻贝，而恩德斯比选择了章鱼。“非常符合气候变化的特征，”她说——这指的是由于其潜在的良好结果，英国章鱼数量的范围：当日鲜鱼，我点了一盘白熊。
自被任命以来，恩德斯比在气候科学遭受攻击且政客们不理会我们的时刻，领导着英国气象局，尽管该国面临着更极端的天气。该机构最新的模型表明，到本世纪中叶，英国可能既没有长期的延伸，也没有 400 天的持续时间，无论温度如何或温度如何。
与此同时，其预报的准确性仍受到审查，旅游攻击接踵而至，因此埃克塞特最近因在英国气象局应用程序中使用单一每日导览而受到批评，认为一个雨水符号会导致冬季损失数千英镑。
“我们根据准确性来衡量，我们的预报质量受到独立评估，我们一直试图让它们变得更好，我们很少——但偶尔——会完全出错，”她说。
恩德斯比在伦敦长大，她的父亲是一名英国巴士声学工程师，而她的母亲在牛津大学学习古典文学，是一名家庭主妇。她的父母“从英国社会光谱的不同端点出发，经过不懈的努力和全面地...”
她在剑桥大学学习自然科学，得到了“女性科学与工程计划”（Women Inter-Science and Engineering initiative）和英国纽带的奖学金资助，她在大学毕业后在那里工作。然而，她职业生涯的大部分时间是在后来成为国防部执行机构的国防科学技术实验室度过的。
在 25 年的时间里，她从一名装甲专家一路晋升到董事会，包括监督网络和情报系统。“早在今天成为热浪之前，我们就已经面对 16 个大日子了，”她带着笑意说。“我的出版清单真的很糟糕，因为我最好的工作都被列为机密了。”
我们开始处理前菜。来自康沃尔郡圣奥斯特尔（St Austell）的贻贝是一个美味但略显凌乱的选择。“我的章鱼很棒，”恩德斯比说。“（需要）学习如何烹饪它，因为它显然将成为当地文化和环境（增加）的一部分……我的意思是使用皇室的‘我们’，因为是我的后援在担任厨师。”
结果是英国巴士的一群夏季学生。他们已经结婚 25 年了。“向西回溯且...”
与《金融时报》共进午餐：佩妮·恩德斯比 (Penny Endersby)
“不会有一个寻常的夏天”
THE GALLEY
47 West Street, Topsham,
Dover 0.5 (1991)
Three octopus marks of 251
31.8 g/mid mussels
Wild Carrot/sovings
Hopper cuts 2.2 g/m
230 square/cent
Lighter Bechards
Floor Tree tons 23.50
London Light 650 gpm 24.20
Oasis of Galley Blues 15.15
Tea 14.35
Experties 16.55
Total in service 2149.29
如果我要告诉 18 岁的自己一些事情，那会是，“他是个值得交往的人，”她说道，眼睛里闪烁着光芒。“他承担了通常由窗口承担的职业提供者的责任，”包括在他们的两个孩子还小的时候，担任一个长期的家庭父亲。
我说，从国防部到气象学似乎是一个相当不错的跨越。她反驳道，国防部必须确保坦克和飞机等机器，以及员工，在当前和未来的气候条件下都能正常运行。无论如何，她说，气象局所做的工作如此多样化，以至于没有人能成为所有领域的专家，并补充说该职位拥有丰富的专业知识。此外，她曾是一个秘密的气象爱好者。“我傻到在自家庭院里记录了 10 年的语言记录。”
英国气象局（Met Office）是世界上第二大国家气象服务机构，并拥有世界上运行时间最长的天气记录。英格兰中部的月度记录可追溯到 1659 年，每日记录则追溯到 2772 年。
但当 Endersby 加入时，两件臭名昭著的事件一直笼罩着该机构：BBC 在 2016 年决定转向私人预报员；以及气象预报员 Michael Felt 在 1987 年否定飓风风险，结果致命风暴袭击了该国。BBC 的举动是一个“巨大的声誉打击”，但她告诉我，该广播公司目前正处于切换回气象局的过程中。
她认为，类似于 1987 年的风暴现在不太可能被遗漏，但“局部”天气事件（如雷暴）仍然更难预测。尽管如此，她表示，预报已经“显著”提高。“你现在的五天预报与 50 年前的一天预报一样好。”根据其网站，气象局一直被公认为全球前两大预报提供商，最近的数据显示，其最高气温的一天预报准确率达到 95%。
许多改进是由更强大的计算机驱动的，气象局投资了 £2.5m 用于超级计算机。但 Endersby 说：“我们现在正遭受鲍尔定律（Bower's Law）终结的影响”——该定律观察到，微芯片上的晶体管数量大约每两年翻一番，而计算机成本则在降低。
“既然我们不能在更大的计算机上搭便车，”就必须寻找聪明的新方法，而 3d 看起来将成为这些方法之一。”
当主菜上桌时，我们简短地暂停了对话。用大蒜黄油和酸豆制成的柠檬鳎鱼（megrim solo）烹饪得恰到好处。“这在当地算是一道 delicacy，”
Endersby 说，“他们把鱼头去掉了，但这很诱人。”
我们回到了 14.7 英寸，这是由气象局和技术平台开发的人工智能模型，其结果与一个全球天气模型相当。但仍然存在问题。“在我们的物理模型中，如果没有相关的风，你永远无法获得更大的压力梯度 [当压力在短距离内迅速变化时]，但如果可以的话，”她说。
她补充说，人工智能预报“降低了进入门槛”，这意味着气象局可能会面临更多竞争，但与此同时，她说，它“正处于人工智能与数值预报最佳融合的尖端”，将“物理建模的物理有效性和现实性”与“3d 建模的效率和速度”相结合。
他过度地将英国国内对气候行动的政治抵制与英国国际间的关系联系起来，而在英国国内，改革党和保守党已经
承诺将放弃净零目标。恩德斯比（Endersby）在回复时十分谨慎：“我们希望以最公正的科学信息告知任何执政政府，以帮助他们做出更好的决策。”
当她在 2008 年申请英国气象局（Met Office）的职位时，她认为自己的任期“将涵盖普通大众能够真正亲自察觉气候变化的时间段。事实证明我是对的，”她说。但与她预期的人们会“意识到需要采取行动”不同，这反而“引发了一种反弹”。
在特朗普总统领导下，美国国家海洋和大气管理局（NOAA）——这家负责天气预报和监测气候状况的美国机构，已有数百个职位被削减——其科学家们一直不愿将极端天气与全球变暖联系起来。特朗普曾称气候变化是一场“骗局”（cox job）。
恩德斯比表示，科学已经明确气候正在发生变化。“在这一点上，我不需要保持政治中立。而在我需要保持科学中立的领域，我确实如此。”
恩德斯比说，即便是在联合国气候谈判以及世界气象组织（WMO，联合国的全球天气和气候机构）中，气候科学也面临抵制。但她补充道：“你无法游说物理学。你可以抹去这些词汇，但气候依然存在，气候变化依然存在。”
世界气象组织利用来自英国气象局、欧洲中期天气预报中心、美国 NOAA、日本气象厅等机构的数据，以构建关于年度天气和长期气候变化的全面全球图景。
然而，日益增长的全球 [此处原文不详/system] 令人担忧。“人们需要批评我们的科学，而现在科学已经如此显而易见得近乎‘亵渎’（blaspheg），以至于我们开始面对针对数据的批评，”恩德斯比说。
她表示，尽管其他地方存在抵制，但企业正给予更多关注。近年来，许多银行和资产管理公司削减了气候相关努力。但她认为，与西方联盟（Western Union）的合作是一个重大步骤，其他竞争对手如英格兰银行和伦敦金融城（marketplace now in a Lot of London）也在关注“合理的淡水案例情景”——这“非常令人鼓舞……他们可能不那么无私，但他们非常理性，且不只关注长期，在那些关于适应、风险和气候的明智选择中是如此。人们知道财产价值将会大幅 [此处原文不详]。”
英国气象局还与国家能源系统运营商（National Energy System Operator）合作，将天气预报整合到电网管理中——旨在帮助理解电力需求的可能性，或风能和雨能的可利用情况，以规避长期气候情景。“我们的很多电力线路在应对寒冷时容量过剩，而在应对高温时容量不足，”她说，“这些线路是为抵御 WMO 的冰冻压力而设计的”，但并非为了应对“可能高达 60% [的某种情况]”。
[此处文本包含大量OCR错误/不完整片段：One plan is shared, we weigh up domert. I decide on a by煌-Bu-Botante and tea, while Endersby orders coffee.]
恩德斯比是埃克塞特大教堂（Exeter Caldeclo）的首席科学家（canon scientist），这是一个平信徒职位，她尝试在该职位上“提供一种有用的科学解读”。她说，她最近原定的一次关于 人工智能 的演讲被推迟了，并解释道：“我刚刚在接受癌症治疗后重返工作岗位。”
她去年被诊断出患有乳腺癌，在化疗期间坚持居家办公。“然后我做了几次手术，不得不停职。”她直到几周前才回到办公室。放疗将于本月开始。
我们的谈话随后转向天气改造或地球工程（georegionning），即操纵地球自然系统的想法。中国等国家已经在利用人工增雨（cloud seeding）技术。而一些科学家和风险投资家则在研究更具争议的措施，例如太阳辐射修正（solar radiation modifications），通过将进入地球的阳光反射回太空，从而在成本极高的情况下降低地球温度。
英国的社交媒体上出现了关于天气操纵的指责，但 Endersby 强调，气象局并不从事天气或气候修正、无线电建模或地理区域操纵，但她认为这是“在绝对最后手段时才应该做的事情”。
“地球工程并非万灵药，即使你能使其奏效，它也无法阻止海洋酸化。一旦你开始，就必须持续下去，”她说道，并认为如果该技术被成功使用而突然停止，气候将会更加迅速地恶化。
她认为，归根结底，这分散了人们对真正需要做的事情的注意力，其中包括快速推广可再生能源。“我的观点是，我们知道如何应对气候危机，我们拥有技术，我们只需要大规模地部署它们，而不是试图通过另一种工程手段来摆脱困境。”
目前，世界距离《巴黎协定》将全球升温限制在远低于 32，并力争使其在工业化前水平之上不超过 1.5C 的目标还相去甚远。全球温度已经上升了约 1.5C 至 1.4C。“我们维持在 1.5C 以内的机会很渺茫，”Endersby 说道。未能达成目标将在各地产生重大影响，包括英国。
今年夏天，世界卫生组织（WHO）确认，最强大的自然气候模式之一——厄尔尼诺现象（El Niño）目前正在发生，并警告其可能会加剧。这一现象通常会加剧干旱和高温。在增加陆地和海洋热浪风险的同时，本土科学家们警告称会出现一个“超级厄尔尼诺”。Endersby 表示，“一个像年这样强烈的厄尔尼诺”可能会在明年将全球温度推得更高，“在上升趋势之上的一个临时峰值”。
“我们知道如何应对气候危机，我们拥有技术，我们只需要大规模地部署它们”
在英国，一份来自气象局科学家及其他专家的报告称，与 1965 到 1990 年相比，最近十年大伦敦地区气温高于 500 的天数和气温高于 10C 的夜晚数量增长了四倍多。Endersby 说：“这个夏天感觉非常异常，但以后也不会有‘正常的夏天’了，因为我们处于一个如此迅速变化的气候之中。”
该国在 2012 年首次达到 40C，气象局曾预测并警告，如果没有人为气候变化的影响，这几乎是不可能实现的。“2012 年 7 月，我站在我们的运营中心里，看着温度不断攀升，”Endersby 说。“一方面，你看到它发生了，你想欢呼，因为这是你的职责所在而且你是对的。而另一方面，你想哭，因为这件事本不该发生。”
The restun and has emptied. I just not see well to the railway station, like to glad of the exercise, she says, after being cooped up during her career treatment. Before we had each other farewell, she shows me a big match by the Met Office's a96 big夢境 after her diagnosis. There is a bit right-ling bolt and a rainbow. And as the late minions what looks set to be its hottest summer on record, at least for now, the points to another addition her colleagues included a smidleg one.
致敬 金融时报 的气候记者
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PT 周末
2020 年 6 月 25 日/6 月 26 日
风格
男性夏季婚礼着装指南
来自 Favourbrook 的晨礼服选项
Becky Malinsky
咨询造型师
客户发给我的不再是简单的 iPhone 邀请函快照，而越来越多地发送完整的口述说明。你以为自己已经掌握了针对儿童或格尔迪斯（Galdys）时尚风的答案？但解读不可避免地会有所不同。
幸运的是，尽管如此，传统婚礼着装的公式似乎依然占据主导地位。没错，你们依然有晨礼服（morning dress）这个选项！我可以从 1 位客人的情况开始，逐步深入到那些目的地在海外、更追求时尚的庆典活动。首先且最重要的一点是：尊重新郎新娘的要求。如果要求穿着晨礼服，而你恰好拥有礼服外套（balls）、西裤和背心，请务必穿上它们。如果选择这条路线，灵活性并不大。Hustiness 仅为我提供了晨礼服外套 (£2,950)，hustiness(electro.com) 以及三种色调的背心 (£750)（灰色、浅灰色和沙色），这见于其成衣系列，在以商业街价格寻求该类别着装时，这也是一个极佳的风格参考。
然而，许多宾客选择穿着得体但不至于完全穿成礼服（calls）的西装，因为后者通常仅要求婚礼核心随行人员穿着。事实上，总部位于纽约的 table Knight Fitzgerald 提醒婚礼宾客不要穿不合身。他解释道：“现在人们不再那么在意所有规则，更多的是让自己看起来状态最好。”尽管我是美国人，但我倾向于同意他的看法。一件量身定制且合身的尖峰领（peak lapel）西装，几乎总是比你临时借来穿一天的晨礼服外套看起来更好。
当我问 Fitzgerald 他最喜欢的婚礼西装风格时，他建议道：“你会从一套午夜色西装中获得极大的收益，这种颜色在夜晚看起来几乎像黑色。”这位精良的裁缝建议两种变体：“带有尖峰领的单排扣西装总是能体现婚礼氛围，或者深色系的双排扣西装，这能让你看起来更开心，而不像是在穿办公室服装。”
Fitzgerald 的定制起价为 86,000，但这种风格在市场的所有价位都有售。对于第一次参加婚礼季的二十多岁年轻人，可以考虑 Charles Tyrrell 的深色双排扣高性能西装 (£100), charlottyrrell.com。(Canal 同系列的双排扣版本非常接近黑色，这使其成为乡村婚礼及城市黑领结晚宴的绝佳选择 (£2,460, mytheros.com)。
如果你坚持选择灰色，请选择较深的木炭色而非浅色，以增加正式感。我想到了 Them Severny，其出色的比例和尖峰领将其与工作日衣橱区分开来 (£2,695, theonewney.com)。
但我们在这里不仅是为了讨论标准款西装。一篇《Vogue Weddings》的故事称，2016 年最大的趋势之一是“时尚后镜（fashion-behind glasses）”，这使得男性对细节的过度关注大大减少。
总的来说，时尚西装正变得宽松并舍弃内衬——对于前往炎热气候地参加目的地活动的宾客来说，这是一种解脱。考虑到这一点，现代婚礼宾客在考虑地点和时间时，可以在面料、纹理和颜色上大胆尝试。如果是在乡村举行的白天婚礼，且口述要求是 Ralph Lauren 风格？可以考虑 The Armoury 的鼠尾草绿亚麻西装，配有贴袋
一件量身定制且合身的尖峰领西装，几乎总是比临时借来穿一天的晨礼服外套看起来更好
口袋 (£2,250), theonewney.com)。或者选择 Boffles 巧克力棕色的宽松双排扣夹克 (£2,215, stoffa.com) 搭配象牙白亚麻长裤 (£475, stoffa.com)。
这将是一场在日落时分于海边举行的正式活动吗？可以考虑 Gladys Heritage 的 70 年代风格宽腿亚麻款式（£1,870, gailroadrings.com），或者 Ralph Lauren 的棉丝麻混纺血红色西装外套（£2,600, myperton.com），搭配任何黑色或深色调的热带羊毛长裤。玛莎（Marks and Spencer）推出了一款黑色亚麻双排扣西装外套，视觉效果同样出色（£1,070 或 safe, matheandspine.com）。或者选择最稳妥的方案，挑选一件像 Elton 那样的挺括白衬衫（£100, eunethin.com），或一件 Hovee and Curtis 的衬衫（£65, hawseandearful.co.uk）。
至于趣味细节，请选择最能让你感到自信的单品。如果你在寻找一件能让你从海滩无缝过渡到康诺特酒店（The Connaught）的外套，我总是会选择 Drake's 的真丝手绘方巾，售价 £575, drains.com）。
最大的建议是选择剪裁更丰满、腰线更低的西装，同时在配饰上追求最正式的效果。无论如何，我认为把大礼帽留在家里是安全的。
有问题想问 Becky？请发送电子邮件至 becky@beckymalinsky.com
送给正在接受癌症治疗的朋友什么礼物
礼赠 | 从身体香膏到浴盐，从羊绒袜到电影票：五位分享者回顾了在艰难日子里，什么对他们有所帮助。作者：Constance Ayrton
当亲近的人患病时，人们经常会说这样一句话：“如果有什么我能帮上忙的，请告诉我。”
对于癌症患者来说，这可能是最难回答的问题之一。在医院预约、治疗以及生活因疾病而突然被重新组织而产生的迷茫之间，许多人不知道自己需要什么，更不用说如何表达了。
“家人和朋友往往担心说错话，而有些人则试图保持一种‘积极’的状态，”肿瘤临床心理学家 Caroline Johnson 博士说道。“花时间倾听，并以简单的方式陪伴在对方身边，就能产生巨大的影响。”
那么，真正的“陪伴”具体是什么样子？
这里，五个人讲述了在癌症治疗期间，哪些举措和礼物帮助他们度过了难关，并让一些最艰难的日子变得稍微容易承受。这不是一份支持癌症患者的权威指南，而是一系列细小关怀行为的集合，为任何想要提供帮助但不知从何下手的人提供一个切入点。
Emma Davidson
作为 Dated 的一名董事，Davidson 在 2020 年 9 月被诊断出患有宫颈癌，并在 11 月和 12 月接受了化疗、放疗和身体治疗。
“刚开始时，我姐姐创建了一个包含我治疗计划的电子表格，并与我的好友分享，这样他们就可以登记在什么时间来探望和陪伴我。我认为对我来说，这是最大的支持。癌症极其孤独，而有人在身边让这种感觉减轻了一些。”
在治疗期间，我的皮肤变得非常干燥，一位朋友送了我一套 Emma Lewisham 的护肤品，包括 Supernatural 面部护理系列。这些产品主要由天然成分制成，我很喜欢这个品牌的理念。Emma 是在她的母亲被诊断出癌症后创立这个品牌的。我还收到了一些由 naevan 创立的护肤线 Naevan 的有趣产品。Ultra Caring 身体香膏是必备品，我现在仍在使用。
另一份令我难忘的礼物是在伦敦一家水疗中心的一次肿瘤按摩。它包含非常温和的指压、水晶和天然产品。在那段时间里能得到如此细心的照顾真的很美好。
当我有足够的体力时，我会离开医院，去伦敦西区 (West End) 的 Prince Charles 电影院看一场午间电影。那是少数几个能让我暂时停止思考癌症的地方，所以后来一位朋友给我买了一张电影通票。那真是一份很棒的礼物。”
Leanne Finn
Finn 是一位创业者，被诊断出患有乳腺癌，接受了双侧切除手术和一轮化疗。
“你能做的最有效的事情就是简单的陪伴。我有朋友过来坐在我的床边，看着我睡觉。有时，无需任何言语。”
鲜花是我最喜欢收到的礼物之一。我也非常珍惜那些小小的慰藉。在晚上，在病房度过漫长的一天后，我会洗个舒服的澡来放松，或者朋友会给我带来蜡烛或可使用之物。其中最美好的是来自 Little Shop of London 癌症平台上的浴盐。
我的治疗在初夏结束。在那段时间，我了解到了防晒产品 (SPF) 的重要性，包括对肤色较深的人群以及色素沉着的风险。我开始使用 Lethone Power SPF，现在依然在用。这类产品可以作为一份非常实用的礼物。
在第一次化疗后我的头发掉光了，但最难熬的部分是失去睫毛和眉毛。我不得不教自己如何画眉毛和贴假睫毛。那很艰难。我只想重新找回自我。像眉笔或一些高质量的化妆品这类东西可以成为一份……
插图：Sara Andreasson
从左起顺时针方向：Revital ash 睫毛滋养液；Haribo Tanglatic 糖果；棕色羊绒袜；La Roche-Pouay 护日霜；Narison Ultra Caring 身体护理膏
我不得不自学如何画眉……一次化妆课程可以是一份非常贴心的礼物
一份非常贴心的礼物。Revital ash 拥有一系列非常出色的眉毛和睫毛产品，专为治疗后的患者设计。
Ashley Dalton
这位工党 80® 成员及前卫生大臣在 2016 年首次确诊后，于 2020 年被诊断为浸润性转移性乳腺癌。
Dalton 目前正在接受针对继发性疾病的长期治疗。“对于我的妻子、女儿和我来说，我们收到最好的礼物之一是一大批现成的冷冻食品，可以直接放入烤箱。那太棒了。在食物方面，我建议优先选择口味较浓的，因为治疗真的会影响你的味觉。对我来说，这意味着一份美味的咖喱和 Haribo Tanglatic。准备或携带软食也是值得的。化疗会让你的口腔非常疼痛。除此之外，还有 Quisay Drops，这种极佳的天然缓解剂能帮助缓解恶心。”
在早期，我还收到了来自 Jasmine Silk 的一个精美丝绸枕套。当你失去头发时，普通的棉质或亚麻面料会让皮肤感到粗糙。我换成了丝绸，再也没有换回去。“人们经常没意识到，有些礼物并不耐用。在第一次化疗期间，有人送我香气浓郁的花卉身体乳。但由于我最后一次使用它们时病得很重，现在的气味会让我立刻感到恶心。所以，礼物可以在当时赠送，但之后不要重复购买。”
Hianca Dahl
这位意大利超市经营者被诊断出患有 2 期卵巢癌。她完成了化疗，目前每天服用靶向抗癌药 Lycopene。
“我的朋友和男朋友成了我的生命之光。他们在彼此之间建立了一个群聊，确保总有人在身边提供帮助。我住在洛杉矶，朋友们还会定期给我送免费的杂货配送——甚至不需要我开口请求——这在我照顾女儿期间非常有帮助。”
我收到的一些最好的礼物是我给自己买的。在那些日子里，我花很多时间坐着看着自己的脚。所以我给自己买了一双红色的 Prentice Schooler 芭蕾舞鞋。它们给了我很好的心情。
一旦得到肿瘤科医生的批准，我也开始尝试针灸和淋巴按摩，这帮了大忙。但一次出乎意料的绝佳体验是去米兰一家名为 Fred 的传统高端理发店。在头发掉光后，我感觉非常难受，而那里的面霜感觉非常好。我会推荐将这个作为礼物，因为这不是人们通常能想到的东西。我觉得整个过程既有趣又奢华。
Jeremy Langmead
男士奢华风格平台 Mr Ferrol 的品牌选择负责人。Langmead 在 2 年前被诊断出患有高级别侵袭性前列腺癌。他目前仍在接受治疗。
“我认为这取决于具体情况，但提供具体且切实的东西通常很有帮助。比如‘我可以帮你在超市买东西吗？’或者‘我可以帮你接送孩子上学吗？’，或者干脆提出登门拜访。”
我最喜欢的礼物之一是一套六本最新的推理小说。我有大量的时间阅读。但请不要送自我救助类的书籍，比如《同伴将治愈你的癌症》或《生活艺术》。只要给我正经的页码书就行。
经历化疗的人通常会感到非常冷。我记得去探望一位病得很重的朋友。她已经一周无法站立，但她勉强说出了一个词：‘羊绒’。于是我赶紧跑出去给她买了几双羊绒袜。
我会推荐这个，或者一件来自像 Uraly 这样的品牌的羊绒衫，一件你可以裹在身上、即使在插着管子时也能保暖的宽大衣服。
而且，尽管不需要花费任何代价，但在你精疲力竭时，一条简单地以“无需回复”结尾的消息可能是最大的慰藉。通常，你会被海量的问询淹没，且暂时无法给出任何答案。”
25 June 2016 3:00 PM
PT Weekend
5
Style
追求多肽完美
健康 | 越来越多的富裕消费者
正致力于通过多肽“堆叠”（stacking）来打造极致体魄。但这是否安全？作者：Carson Griffith
阿曼达·卡恩（Amanda Kahn）并非刻意要成为“公园大道多肽公主”。这个名字源于一件在他们店内举办的一次演讲活动中为她量身定制的、带有手绣“多肽”字样的新款“多肽公主”服装。随后这个绰号便跟随她而行：卡恩已成为某些注重健康的纽约人慕名前来的医生——那些联邦居住在美国的人。这种新型的“多肽公主”是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式
据称，多肽可以解决从肠道健康、认知功能……到抗衰老、减脂和胶原蛋白生产的所有问题
针对该问题的行动。我们并不是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式
多肽是短链氨基酸，就像蛋白质的构建模块，在体内充当信号分子，与修复、反刍、减轻炎症或产生激素产生相互作用。我们的身体意味着更自然。制药行业自 1920 年代起就一直在研究这些（内部，第一个被发现并随后进行化学合成的多肽），自 1923. 起一直被用作主流的糖尿病治疗方法。芝加哥最著名的研究，第一个在 1920 年代成为文化现象的 3 受体激动剂。
但卡恩所处的环境条件良好。在 1920 年代，“多肽公主”是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式，是一种很好的方式
它们最常用的给药方式是皮下注射，尽管一种新药是通过第一剂、第一剂、第一剂、第一剂、第一剂、第一剂、第一剂、第一剂、第一剂、第一剂、第一剂、第一剂、第一剂、第一剂、第一剂、第一剂、第一剂、第一剂、第一剂、第一剂、第一剂、第一剂、第一剂、第一剂、第一剂、第一剂递送的
据报道，这种能力可以加速软组织和韧带修复。Bongola 鸡尾酒据称可以解决从肠道健康、认知功能和炎症管理到抗衰老、减脂和胶原蛋白生产的所有问题。它们的普及程度被证明是巨大的——即使在缺乏太多监管监督的情况下。
詹妮弗·费舍尔（Jennifer Fisher）是一位常驻纽约的珠宝设计师，也是 Mascot's History Lab 的创始人，她带着 Whitehead Cystic 找到了卡恩，希望在进入绝经期之前解决这个问题。费舍尔还患有桥本甲状腺炎，这导致她在成年后的大部分时间里头发稀疏。
“与许多在我所在的这座城市、很早地开始使用多肽的人相比，你对游戏的了解还很浅，”费舍尔说。在按照卡恩为她制定的多肽方案执行一年半后，她说，她的头发现在是“在我记忆中最长且最浓密的时期”。
Ivan Pol 是一位深受塞尔玛·海耶克（Selma Hayek）和金·卡戴珊（Kim Kardashian）青睐的名人面部护理师，他是通过客户接触到多肽的。他开始注意到坐在他椅子上的人们出现了一些变化。“有客户看着我，”他说，“‘你怎么回事？你看起来更年轻了。’”答案总是：“嗯，我在用多肽。”
一个包含连续 12 到 18 天（以及今年总计 500 次面部护理中的 21 次）的日程让他精疲力竭，体重下降，在恢复健康和肌肉方面陷入困境。在最终交付给这位礼宾医生的方案中，他随后开始尝试 BP-127（女儿 TB4（组织修复））、GHR-63（胶原蛋白生成）、AOD（脂肪代谢）和 NAD+（细胞能量）。
上图：“堆叠”（stacking）是指组合使用多种多肽的实践。
下图：Amanda Kahn，纽约 Mascot's History Lab 的“公园大道多肽公主”。
© Mascot's History Lab, New York
现在，Pol 说：“我回到了二十多岁时的身体状态。以一种健康的方式，如果我想像法拉利一样，我就必须保持维护。毫无疑问，可以像丰田一样。但我不想成为一台丰田。”
Kahn 在 2015 年开设了自己的专注于长寿医学的礼宾诊所，她说她的患者不仅仅要求看起来更苗条或更出色。他们想知道自己的阿尔茨海默症风险。他们希望触及自己的炎症标记物。他们想回顾 4G、3G 或 6G，以及他们在 3G 时期的感觉。
美学或许能吸引他们进门，但长寿则让他们留了下来。对于许多患者来说，她成为了他们的初级保健医生。她也可以被视为整体图像的一部分 and can be seen in the whole picture and can be seen in the whole picture and can be seen in the whole picture and can be seen in the whole picture and can be seen in the whole picture and can be seen in the whole picture and can be seen in the whole picture and can be seen in the whole picture and can be seen in the whole picture and can be seen in the whole picture and can be seen in the whole picture and can be seen in the whole picture and can be seen
“我的很多患者都有保险，”Kahn 说，“但他们支付的保费如此之高，而且无论如何都没有任何报销。他们觉得，‘那有什么意义？我宁愿直接为我想要的护理买单。’”
虽然多肽是她实践的核心，但并非所有多肽的法律地位都相同。一些多肽药物已获得 FDA 批准数十年，
而另一些，包括日益普及的 BP-127，尚未在美国获批用于人体，但这并不一定意味着这些化合物本身非法。相反，相关规定通常管辖它们在美国境内如何使用，以及在美国、在美国、在美国、在美国、在美国、在美国、在美国、在美国、在美国、在美国、在美国、在美国、在美国、在美国、在美国、在美国、在美国以及在
“FDA 监管的是产品的销售，而非医疗实践，”哈佛医学院医学教授亚伦·J·凯塞尔 (Dr Aaron J. Kessell) 说道，他同时领导“监管、治疗与法律项目”，这是一个研究处方药、知识产权法和监管政策之间相互作用的独立学术中心。
在英国，某些未经许可的多肽药物在特定情况下，尽管缺乏一般监管批准，仍可开给个别患者。在整个 欧盟 范围内，未经许可的药物可能会获得集中批准，但获取未经许可的多肽药物的情况以及开药实践在各成员国之间可能有所不同。
来自 GHR-63（一种与皮肤和骨骼修复相关的多肽）的美国人纳里莎 (Narisa) 和克里斯·库尔森 (Chris Coulson) ——是从荷兰根据其西班牙人的建议
国际买家的目光，该公司最早的一批库存被发往美国、日本和英国。一个充满热情市场是加利福尼亚州的许多地方，罗穆阿尔达 (Romualda) 在沿海找到了两家分销商，以及第三座岛屿，在 1941 年。
到 2026 年，姐妹俩已在全球约 250 家商店中销售这些小屋，并与 buns 和 Tsun 等品牌开展协作。
她们长期的朋友兼合作者塞西莉亚·雷纳德 (Cecilia Renard) 为该品牌拍摄了许多宣传活动，她回忆起这段令人眩晕的经历：“你做的是什么品牌，你做的是什么品牌，你做的是什么品牌，你做的是什么品牌，你做的是什么品牌，你做的是什么品牌，你做的是什么品牌，你做的是什么品牌，你做的是什么品牌，你做的是什么品牌，你做的是什么品牌，你做的是什么品牌，你做的是什么品牌，你做的是什么
你做的是什么品牌，你做的是什么品牌，你做的是什么品牌，你做的是什么品牌，你做的是什么品牌，你做的是什么品牌，你做的是什么品牌，你做的是什么品牌，你做的是什么品牌，你做的是什么品牌，你做的是什么品牌，你做的是什么品牌，你做的是什么
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你正在做的品牌是什么，你正在做的品牌是什么，你正在做的品牌是什么，你正在做的品牌是什么，你正在做的品牌是什么，你正在做的品牌是什么，你正在做的品牌是
医生，一名多肽爱好者。Oels 每天早上为 Maria 准备注射液。“这非常浪漫，”她计划道。她的皮肤从未被留在她的社交圈中，多肽还不是那些静止之物之一。“人们确实开始这么做了。我有几个朋友在用。但我不认为这很普遍。”
在美国，FDA 在 2014. 加强了对营销未经批准多肽的诊所和药房的执法。Kahn 表示她的方法很直接：“我不会成为一种好的方式，成为一种好的方式，成为一种好的方式，成为一种好的方式，成为一种好的方式，成为一种好的方式，成为一种好的方式，成为一种好的方式，成为一种好的方式，成为一种好的方式，成为一种好的方式，成为一种好的方式，成为一种好的方式，成为一种好的方式，成为一种好的方式，成为一种好的方式，成为一种好的方式，成为一种好的方式，成为一种好的方式，成为一种好的方式”
患者接受持续的临床评估和生物标志物监测，始终如此，而诊所则在健康和监管顾问的经验支持下，不断审查监管环境的变化。
如今，Kahn 的患者群中 60 % 为女性，40 % 为男性，不过男性往往是在妻子已经转诊之后才到来——有时是身体上的引导，有时则在
“我回到了我二十多岁时的身体状态。以一种健康的方式，如果我想像法拉利一样保持状态，我就必须坚持维护”
能量，通常两者兼有。她遇到过父母带来 24 岁女儿的情况，以及那些多年未曾好好睡眠的母亲，还有身体损毁的前运动员。
该医生目前仅通过推荐接收新患者。她加入了一个由全球数千名医生组成的 WhatsApp 群组，他们在其中实时交流多肽产品的心得。她认为，多肽的使用才刚刚开始。根据 Grand View Research 的数据，全球多肽治疗市场在 2013 年估计为 $100,000，预计在 2014, 将达到 $65,000。
但并非每个人都请得起私人医生。根据安全药品伙伴关系（Partnership for Safe Medicines） 5 月的一项更新，一些在线网站正在销售声称非适用、具有治疗效果且注重安全的物质，这些物质通常源自未在 FDA 注册的国外工厂。越来越多的客户还在通过社交媒体直接从中国制造商处购买。
释放平台激增，使人们整体上能以较低的价格获得保护，但取决于你去哪里，其质量可能大相径庭。这还可能带来显著的社会学影响，一些科学家认为，多肽对患者健康和决策的影响正在改变这一超——
社会富裕阶层的特许经营权确保在积压之名下，与积压之名下相同，与积压之名下相同，与积压之名下相同，与积压之名下相同，与积压之名下相同，与积压之名下相同，与积压之名下相同，与积压之名下相同，与积压之名下相同，与积压之名下相同，与积压之名下相同，与积压之名下相同
这位“公园大道多肽公主”表示，这个领域在很多方面仍像是一个房间，新患者在来到她这里之前通常已经尝试过 1ST 年。“很高兴他们最终找到了正确的地方，”她说。“没有评判，我想听听你尝试过什么，什么有效，什么无效。”
“但这不仅仅是关于多肽是什么。它来自哪里，起什么作用，用多久，停多久，与之配套的血液检查是什么，我们关注的终点是什么。”
Romualda 的回头客之一是来自葡萄牙的造型师兼创作者 Mahida Patricio。“我一直很喜欢 Romualda，因为它们瞬间就让人沉浸在一种 earthy（大地感）之中，”她说。“它们天生就具有启发性，拥有如此强烈的个性，但穿起来却出奇地简单。对我而言，它们完美地代表了西班牙时尚的独特之处：在工艺、创意与自信之间取得了绝妙的平衡。”
Romualda 的魅力在品牌 Instagram 账号分享的图像集以及客户寄回的展示中得到了体现。
“他们写信告诉我们，他们的 Romualda 还在哪里旅行，或者告诉我们看到它如何陪伴他们度过每个暑假是很重要的，又或者它是如何由母亲传给女儿的，”Critton 说道。
在今年夏季的最后一批库存售完后，Romualda 将继续按需发布单品，并满足部分特定客户的特殊需求。与此同时，这种以工艺为导向的美学可能会在诸如 Buffalo 或 Zabet 等独立领域产生类似的吸引力。
最终，通过选择深耕而非盲目扩张，这对姐妹正守护着让 Romualda 最初脱颖而出的价值，创造出少数能够陪伴买家终身的单品。
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FYI National
25 June/26 June 2020
旅游
潜水叉鱼（Spearfulness）是东南亚深处的一种纯粹体验，他们经常一次憋气长达 10 分钟，让世界慢下来，只为了寻找海鲜。这些海上游牧民族的身体经过几代人的演变而适应：他们的脾脏扩大，以允许更多氧气进入血液；他们的眼睛则调整得能在水下看得更清晰。
最早的狩猎采集者利用这种能力来捕鱼，通过憋气潜入深处追踪猎物。诺克斯维尔（Knoxville）附近一个水下洞穴墙壁上的绘画描绘了人们用叉捕鱼的场景，可以追溯到 25,000 年前。
如今，对自由潜水（彼此称为 'species'）日益增长的兴趣正使人们重新发现这些古老的方法，将其作为一种非刺激性采集的方式，或者为了在自己的船上狩猎，探索水下世界——或者仅仅是为了给夏季的海滩假期增加额外的刺激。
然而，并不需要憋气那么久才能体验水下捕鱼的乐趣。在英国，近岸浅海区域可以找到甲壳类动物和鱼类，如海鲈、鯿鱼和海鲈鱼；而且在英国、法国或西班牙的潮汐和沿海海域进行采集或叉鱼是不需要许可证的。
“英国的叉鱼运动其实被低估了……这里有如此广阔的野岸，”马克西姆·布隆德尔（Maxime Blondel）说道。他在普利茅斯经营着一家法国叉鱼学校，我正是为了参加入门课程而来到这里的。“我在西南半岛周围潜水很多次，在苏格兰也潜过几次，那里的海洋生物是我在任何地方见过的最丰富的类型之一。”
穿上厚厚的双层潜水服后，我们乘坐一艘刚性充气艇出发，向南前往阳光充足的海域，位于普利茅斯分支的东侧。马克斯掌控着船舵，助手是同样身为潜水员的哈里·拉斯曼特（Harry Rasmant）。哈里告诉我，他在埃克塞特大学就读期间开始接触采集和叉鱼，最初是对探索海岸线感兴趣，经常能抓到一只螃蟹作为晚餐。远处是灯塔，马克斯说，如果条件合适，“我就想抓一条鱼……你简直被它们包围了。”
他解释说，第一步是了解你的经验，但现在更重要的是知道寻找什么，以及学习鱼类和甲壳类动物在水中的行为方式。“大多数叉鱼和采集鱼类的人，会将头探进海藻丛中寻找鱼类、小龙虾或该地区有的任何东西。”
于是，我系上配重带，穿上脚蹼，与哈里一同潜入水中，我们沿着底线缓缓前行。我可以看到各种形状和大小的生物（像凉爽的藻类触须，还有巨大的海藻）在摇曳。当我们轻轻穿过水下丛林时，发现了一只螃蟹。哈里俯身去抓，但它跑得飞快。在岩石附近，一只小海星像长鳍一样展开，沙地上点缀着礁石周围的杂草。哈里消失在海藻之中。
真正野生的游泳
英格兰！在德文郡海岸的一次为期两天的潜水鱼叉捕鱼课程中，
Any Bell 学习了水下觅食和狩猎的基础知识
从顶尖的鱼叉捕鱼出发，遍及英格兰西南部的整个海岸线。Any Bell 和 Max Blondel 正在研究普利茅斯分部的海图。Any Bell 捕捉到一只褐蟹
再次尝试，带上来一只巨大的、摇摇晃晃的海参。随后我们发现了一只更大、肉质更丰腴的褐蟹。我抓着它的后腿，这样它就无法用螯夹到我，摆好姿势拍了张照，然后轻轻地将其放回水中。
接下来是练习“黑色潜水”的时间。我脸朝下趴在水面上，双臂下垂，深吸一口气，试图想起 Max 的指示：身体上方挺直，头部向下，将身体像铰链一样折叠，然后踢腿使双腿垂直，并用手臂拉动以推动自己向下潜。压力立即威胁到我的耳朵，在 10 小时的教学中，健康的鼻子和蹲背——直到我在耳中感到轻微的咔嗒声——但随后失去了动力，重新漂回水面。
经过几次尝试——总是忘记使用手臂，或者记住了手臂却忘记踢腿——一切开始进入正轨，我能够潜到大约五米深。
晴空现在已变得阴沉且灰色，空气中带着寒意。在沿海岸返回的途中，我们经过了不断跌落的岩石，以及大声尖叫的 rpm/crackers（注：此处原文词汇不明确）。我们在一个以扇贝闻名的海湾停了下来，Harry 很快再次潜入海中收集了一些。在船上，我们用刀撬开它们的壳并将其生吃——口感太软而无法钓起，但味道鲜美。
他曾在法国东南部图隆附近与父亲一起潜水捕鱼。他接受了护理培训，同时在国家水下曲棍球队效力，随后在与英国妻子移居英国之前担任商业潜水员，并在 2018 年开设了鱼叉捕鱼学校。“英国的海岸线可能崎岖不平，海况经常具有挑战性，这对于新人来说可能很令人生畏，”他说。“但一旦你克服了这一点，你就会发现一些很酷的隐藏基因。”
为什么不直接用杆和紫色（注：此处原文 red and lilac 疑似OCR错误）去钓鱼呢？用一只手，它更精确，Max 说道。“用紫色钓鱼时，你不知道自己钓到了什么。而在鱼叉捕鱼中，你在击中之前就能发现鱼——没有兼捕。”此外，还有简单的专业形式体验！“英国有庞大的钓鱼者群体，但并没有多少人会潜入水下，并在此地体验这种惊奇。”
在第二天，阳光再次灿烂，平静的海面预示着良好的能见度，我期待着再次潜入水中。在甲板驱动的复习之后（我现在差不多已经掌握了），Max 将鱼叉装备交给我——它大约一米长，由橡胶带驱动，鱼叉特氟龙卷轴连接在绳子上，这样无论是鱼叉还是鱼，都不会丢失。
另一种选择是简单的“杆式鱼叉”。在五十以内——一把在末端附有橡胶环的鱼叉。使用者将环握在手中，然后向前沿杆伸展，握在大约中间位置。当他们松开时，鱼叉会向前射出几英尺。
我们练习了操作，通过手柄握住枪，在下降时将杆靠在肩膀上，将其指向下方，然后将其水平举起。我快成功了！我想，我将像拉拉·克罗夫特（Lara Croft）带着她的爪钩在 David Rucker 中寻找鲨鱼那样在海床上滑行。
鱼叉捕鱼中有四种主要的狩猎技巧。首先是在靠近岩石的浅水区进行洞穴狩猎；然后是移动伏击——缓慢潜行，接近鱼类；以及静态伏击——静静地趴在海床上，等待鱼类靠近。最后是鹅式（注：此处geese疑似OCR错误），即在开阔水域游泳并射击鱼类。
“关键在于能够根据你所看到的景象进行适应，然后从一种类型切换到另一种类型，”马克斯说。“我会观察潮汐的情况，鱼类的行为——以及小鱼的态度，以此来判断周围是否有掠食者。”
他表示，仅将一只手放入水中，在阳光照射的缝隙中游动，是一个很好的练习，因为那时基础的跟踪就在附近。潜入海底后，他向我展示了扁平的静态伏击：在海草中平整且静止地悬停，鱼枪向前指。
但与所有类型的钓鱼一样，潜水鱼枪捕鱼没有保证。在使用鱼枪几天后，没有任何猎物出现，很快我们的时间就到了，必须返回船上。此外，这也是我的潜水捕鱼之梦无法实现的时刻——没有射击，没有可以带回家的收获。
在两天的课程中，人们经常什么也捕不到。我虽然仍感遗憾，但最重要的是练习安全技能。“以后当你将所有经验结合起来时，你就能捕到鱼了。” 随后，人们经常给他发送自己自豪地拿着捕获物的照片。
我不禁感到有些泄气，但仍然觉得像是拿到了水下世界的钥匙。而且，如果你打算食用鱼类，且确实能够捕获到，这似乎是你能够找到的最可持续的方式。
安妮·贝尔（Any Bell）是总部位于德文郡的“新手潜水捕鱼学校”（The Freshman Spearfishing School, the freshman spearfishing.com）的客人，该学校提供单人起价 £10 的单日救生课程，或起价 £600 的两日课程。
初学者潜水捕鱼装备清单
Spearfishing UK（英国潜水捕鱼）的内部人士 Chris Phailes 建议准备以下基础装备：
潜水服！ 大多数潜水捕鱼潜水服为两截式，内层响应较低，在进入水中前需要弄湿并涂抹润滑剂，但比冲浪服更温暖舒适。一套全厚度潜水服价格在 £200 到 £500 之间。我们最受欢迎的品牌包括 Salmond, Jail, Bame 和 Pinney。
脚蹼 全长主导型脚蹼效果最好。入门级塑料脚蹼价格在 £65 到 £100 之间 —— 无最终方案。Europa 脚蹼（见右图）价格为 £80 —— 但
玻璃纤维或碳纤维脚蹼更坚固、更轻且效率更高。（Landsley 玻璃纤维脚蹼 £50）或碳纤维脚蹼 (£77)。
配重块 在潜水时，配重是世界上最重要的部分。诸如 Phases Hydro, Shackles, Harris 和 Phoralle 等品牌通常提供组合配重块 (£18 到 £22)。
面镜与呼吸管 面镜是所有装备中最重要的，且必须贴合良好。大多数潜水捕鱼面镜对于一般成年男性的适用深度可达 10 米。我们最受欢迎的
面镜品牌是 Salmond, Halford 以及 Phases Hydro, Shackles, Harris 和 Phoralle。
鱼枪 价格在 £100 以下的基础鱼枪配置方式类似。Focus 品牌的一款售价 £25 的产品非常出色！一套六件组属于预算方案，但该级别中最顶尖的是
2017 年款的 Sprinter Wild Pro，价格为 £85。
安全绳 一根厚实的枪绳需连接至 4-6 米的基线，这样在紧急情况下或当鱼线缠绕时，你可以舍弃鱼枪。此外，你需要准备旗帜，以警告船只在 100 米外停止。一套优秀的配置是 Phases Pro Torpedo 双底座。四件套价格约为 £25，Rob Allen Rauthier 则为 £15。
刀具 潜水刀在紧急情况下切割脚蹼至关重要，在英国水下活动时也需携带。推荐带有 Lion Clor-lease 的小刀。可以尝试 Phases High，价格为 £2.5。此外：Vopales 4 BE 或 Rob Allen Dextree 价格为 £63。
关键笔记
ARTHURISES OF GLOGOS
什么是最好的？ 在上月底 Arthouse 酒店开业前的筹备工作中，窗户被遮盖在空气与白色布制字母中，上面写着“A GOLF, AL REBIRTH”。
该装置作品出自 Saint Kian Ultran 之手，他是首届 Arthouse 奖的获得者——该奖项是一项由酒店项目公司 IResched 与格拉斯哥艺术学院（Glasgow School of Art）合作推出的奖学金及交流计划，旨在表达一种意向声明。这座宏伟的砂岩地标建筑建于 1951 年，最初作为格拉斯哥教育委员会（Glasgow School Board）的办公室，拥有大量的柱廊、雕刻和饰带——它首先被改造为一个关闭的、在工程上也被称为 Arithouse 的空间，随后成为 Albide Glasgow，直到去年关闭。对于他们新的 Arthouse，IResched 的 William Morelan 和 Andrew Dean——他们将自己描述为“将这座建筑还原至原貌的最普遍优势”——撕掉了层层地毯以露出原始地板，并保留了墙上随处可见的线条。这种克制的结果可能感觉并不
激进，但在一个有太多遗产建筑在缓慢崩塌（或被火灾、拆除球摧毁）的城市里，这是一个非常需要的深思熟虑的修复案例。
地段，地段，地段 格拉斯哥正试图将市中心的部分街道宣布为“文化与遗产区”。这并非凭空而来：在 Bath Street 酒店附近的几个街区内，就有格拉斯哥艺术学院（培养了九位特纳奖得主，其查尔斯·雷尼·麦金托什设计的建筑曾遭受火灾袭击）、苏格兰皇家音乐学院（Royal Conservatoire of Scotland）和格拉斯哥 Fifer 剧院，以及地下音乐场所 King Tait。而在那里，一支名为 Danie 的五人乐队在 1995 年通过博客成名后，签约了 Creation 公司。
数百万英镑的资金正被投入到再生项目中，在经历了多年重心向 Finistown 和 Southside 等其他社区转移之后，该地区似乎终于开始回升。Arthouse 落户 Bath Street 给人一种令人欢迎的势头信号。在我抵达酒店开业首周时，正值“taps off”好天气，心情十分高昂，酒店拐角处意大利传统名店 barti 户外的人行道桌位座无虚席。格拉斯哥主办英联邦运动会（持续至 8 月 21 日）的倒计时时钟，就在步行 30 分钟路程的中央车站出发板上方滴答作响。
检查 但在格拉斯哥长大，你会对其特有的夸张之风变得有些麻木，因此在步入装饰华丽的入口大厅时，会有一种难以言喻的感觉——让人想起在维多利亚时代浴池上游泳课的闪回，以及在爱德华时代学校走廊里穿行的景象。在内部，镀金的装饰和华丽的细节被悬挂在三角形不锈钢灯罩下的柔光所衬托。在左侧，酒吧/休息区供应精致的鸡尾酒并举办每周音乐之夜；右侧则是备受格拉斯哥喜爱的餐厅的新家。
Celentane's，就在那部穿过中央中庭直升的原始豆状阻塞电梯（bean blockage lift）前方。这座城市的创意气息无处不在，从前台由 Dublin Karnam 提供的硬膜下花卉，到东区商店 Kipe Maga 为咖啡桌挑选的大量物品。8178 间客房内有当地艺术家 David Iain Brown 的原始色釉作品，以及来自 King Street 商店的 Bare Bones 巧克力棒。与许多旧建筑一样，这里是房间之星的紫色身影。最小的卧室是无窗的“口袋房”（Pocket，旨在吸引那些比起酒店房间内部，更在意房间外发生什么的演出参与者及其他人士）。其他房间则拥有三倍亮色衣物以及坚固的红色窗户。由爱丁堡玻璃艺术家 Vicky Higginson 手吹制的灯具位于床边，而复古的意大利休息椅则被粗糙地安置在房间内。这是一个大、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩、好玩
做什么？ 遍布全市的粉色横幅承诺“人们成就格拉斯哥”（People Make Glasgow），而在这里，这确实得到了验证。健谈的团队很快地推荐他们附近喜爱的事物：一家受巴斯克地区启发的新型食品展会。左图：位于格拉斯哥文化遗产区的 Bath Street 上的 Arthouse 酒店入口！上方：酒吧/大堂。
最好的卡布奇诺和卡内尔咖啡店（Laborato in Espresso），以及沿着路走下去的一家摆满酒瓶的老男孩威士忌酒吧（The Pet Mill）。在艺术学院旁边，最近开业的 Grateful Gallery 由一名甜美艺术家、一名插画师和一名招牌画家经营，外墙上有着不断更换的壁画；隔壁是陶瓷工作室 Garnet Pets，生产色彩鲜艳的釉面杯子和碗。乘坐单环铁路去欣赏当时 house 风格的生活，在 Ealingrove 艺术画廊欣赏格拉斯哥男孩（Glasgow Boys）和苏格兰色彩主义者（Scottish Colourists）的作品，或者像当地人一样，在著名的 Salamoon-Barrow 市场摊位上发现下一波顶峰艺术家。
食物如何？ 引入格拉斯哥最出名的餐厅之一 Celentane's 是一个真正的妙招，也标志着 Aberdeen 和 Dunn 花了十年时间侦查这座城市并建立联系。位于东区的原址去年关闭，新空间则充满了活力，厨师、朋友和粉丝们都渴望再次品尝那些酥脆的 lounge friths 和填充 rhinitis spondent。夫妻档 Dean 和 Anna Parker 坚持他们的编织配方，增加了几道新菜（用芜菁和昆布番茄酱搭配的酥脆鸡皮小吃尤为关键），并将厨房水转化为酒吧鸡尾酒的各种利口酒。主厨 Dean 执迷于几乎所有东西都由店内自制，包括他们家的早餐。Spoon：新食物，在他新的酸奶、格拉诺拉麦片、苹果和黑莓 canapain、早晨的猪肉和面包萨拉米、组合以及马芬中没有一丝低语。“你睡觉吗？”我问 Anna，她笑了。
价格 口袋房 £49 起（仅限房间），双人间 £149 起，无线电房 £229 起（两者均含早餐）。
照片说明 所有的房子，新的聚集——一家不仅在名义上是艺术酒店的酒店。Fiona Kerr Fiona Kerr 曾入住 Arthouse Glasgow (arthouse@edglagos.com)
2009年6月25日/7月26日
金融时报 周末版
7
欢乐的追求
巴斯克地区 | Marina O'Laughlin 避开了美食圣地圣塞巴斯蒂安，选择了那个名气稍逊的邻居翁达里比亚 (Hondarribia) —— 并在那里找到了品趣（pintxo）的极致完美
在圣塞巴斯蒂安机场降落，但我并不打算前往那个至高无上的圣地。尽管有一瞬间的动摇——对于像我这样追求餐厅名气的旅行者来说，这或许是疯了——但我仍坚持计划，转身前往翁达里比亚。
凭借几项预订以及一个想法：这个名气较小的城镇或许能提供同样丰盛的烹饪乐趣盛宴。我认为值得一试。最坏的情况——圣塞巴斯蒂安那些著名的餐厅距离我仅约 25 分钟车程。
在从机场开车前往的途中，翁达里比亚的魅力逐渐显现。禧年山 (Mount Jubilee) 俯瞰全城，平静的骑行者和北路洞窟 (Cuevaso del Norte) 的朝圣者在此穿行；城市边缘是万吉尔湾 (Vanguil bay)，其散步道和海滩遥望法国，仅咫尺之遥。进入镇上，漫步一周，在 La Martine 那些涂装亮丽的渔民房屋与老城的古老校园之间穿梭，那里的街道陡峭且狭窄。这时，一支由威严的古老骑兵引导、外观奇特的巨型傀儡像队伍出现在我们车旁，这一景象仿佛从几个世纪前穿越而至。
但我来这里不是为了这些。我感兴趣的唯一传统是那种在酒吧之间穿梭的习惯，每家店点一两份品趣（pintxos，通常用鸡尾酒签固定的小吃），边吃边喝，边社交。在酒吧的人群中，吧台和玻璃陈列柜上摆放着各种面包，从最基础的果酱、凹槽面包、鳀鱼和西班牙土豆饼，到大多数野心勃勃的店铺中达到极高精致水平的料理。黑板上记载着当日按杯售卖的当地葡萄酒以及今日特供——从熟成经理到圣贝尔纳迪诺 (San Bernardino) 的一切。
圣塞巴斯蒂安那些名气大得多的同行可能需要极高的专注力——尤其是那些最著名的酒吧；而在这里，一切都轻松得多，或许是因为几乎没有旅游区域，除了我们这一小组人，没人给自己的食物拍照。它在某种程度上弥补了名声的不足。
整个城镇和街区分为两个主要部分：老城 (Old Town) 和 La Martine，由陡峭的斜坡、一座粗野主义风格的市政电梯或偶尔难以发现的室外自动扶梯连接。对于任何认真的派对或探索，La Martine 的圣佩德罗大道 (San Pedro Kalau) 是起点——这是一条宽阔的散步道，点缀着树桩、被污染的树木，两旁林立着酒吧。
大多数酒吧遵循相同的模式：通过指认点单品趣，搭配啤酒、超直觉红酒，或者我的选择——一杯杯 petite traders，这种轻盈起泡的黄葡萄酒从高处倾倒而下，精湛而富有戏剧感。考虑到竞争之激烈，在圣佩德罗大道上几乎不可能出现平庸之作，一个平淡无奇的品趣店很快就会在竞争中消失，其名声仅在舌尖一瞬。我只能钦佩这种毫不妥协的精神。
圣佩德罗大道的快照：Badia Taberna 的一道兔肉料理；老城的一条街道；Rafael 的吧台；Plana de Armas 的 Mika；一艘离开翁达里比亚前往法国方向的船；由 Anna Bala 为《金融时报》拍摄
在这个美味的语言混杂中，一切都恰到好处。这里可能有西班牙语，但只有规模较大的店才会使用英语。甚至我手机的相机翻译功能也失效了，大多只是将 transports 翻译成 transports。（这太离谱了。）看来，得准备好进行一些“盲选”点餐了。
我们首先前往 Rafael，一家外部堆满乱石、内部质朴且充满干劲的老店，服务友好 (cameo, camerohed.com)。这里是立即考虑再次光顾的竞争者，隔壁的 Vardians (cotamantecoulinas.com) 同样如此——后者更偏向时尚现代，但同样拥有极具吸引力的调味特色菜：带有“碎蛋”的 crept-food 工艺，或者配以 cold twelve（一种大花生）乳液的 florets-pock 颊肉。在 Rafael，我们享用了富含蟹肉和 volume (unweird) 的 crisparian；其招牌是一款坦率地说十分奢靡的甜点，色泽光亮蓝色，点缀着细胶，并配有看起来像柠檬凝乳的 sunbreakfast。
我们跟随当地人漫步、摆拍，并停下来进行无尽的聊天，来到 San Onderrillo (harvador-villa.com) 享用与盐渍鳕鱼和酸甜 oatters 搭配的 roasted puppies。在 San Pedro Kalau 24 揭幕的酒吧 (licoradio)（此处无网站）品尝最酥脆的炸鱿鱼，以及一个被塑造成像坚硬森林般海洋的 graven 和蟹类 pintze。此外还有我在 La Marina 最爱的一家（一个填满的 serena pack (Smarag) Kalau 2），这是一个位于向 outburst 方向侧街上的娱乐中心店铺，成群的 Wonderfries 在门外平衡着盘子和酒杯。这里的 pintzen 和 plates（大盘菜）都超越了基础水平——配有焦糖酱的烤 (cigaroo (微型鸡尾酒))、一份厚实且浓郁的 tortilla di bacalae、parathons（载满堆积物的肥脆片）——而没有陷入那些在 showdown 中悄然潜入的离岸风格。
是的，我指的就是著名的 Bar Gran Sol (burgranod.com)。尽管它拥有镇上最好的桌位，但我并未挥手示意。它太过于 overweavable，考虑到“Hondarribia”——一种由细胶（此处很难避开有争议的肝脏）、盐渍鳕鱼、puppers 和桃子果酱组成的 pintxo 复合体，或者是“jubilee”——一团由蘑菇、奶酪慕斯、巴萨米克奶油和最酥脆的 up jamies 组成的混乱之物。另一个不合理的项目在送达时，从其微型烧烤市场中喷出烟雾。我将其归咎于新颖的 TikTok 泡沫。Glorysito 可能会打破一系列 pintxo 奖项。显然我属于少数派。他们甚至在东京的 Hibisiya 开了一家分店。
第二天全部关于旧城区。在 100 点之前登上顶峰，独自在那些鞋匠之街漫步，采样一批被阳光照射的酒吧。这里的气氛截然不同——少了一些 pomagazine（金融时报 也可以是 欧盟 公寓，以及更多），而我则是在冒险蹒跚。就在 negative 入口之外——由 Oscar Rafael 士兵雕像永远守护的小世纪 Santa Maria 之星——是 Fata-jam (cameo.com) (burgragastricbu.com)，那里一群 groves up 的人群在享用获奖的 box-saddles。Balsamic——几乎是用慢炖牛肉、烤番茄、羊奶酪和芝麻菜填满的完整食物——被迷人地称为“我们西班牙（左）的母亲三明治”。我们显然必须点这个——如果他们足够 self-bigie——再加上 handcakes，以及垫在热手之下的自制 carambhat。
在 Plana de Armas 的中心，俯瞰海湾的醒目标志建筑，矗立着 Hondarribia 的 lowering frauder (cameo.com)。它在 20 世纪用于保护城镇，如今作为一家酒店，依然布满了盔甲和武器。它是一家餐厅，但在广场对面是当地最有趣且值得用餐的地方之一：由厨师 Mika Pop 经营的 Mika justices (mikomodarribia.com)。作为前 Gran Sol 的成员，她的食物更轻盈，不那么 OTT（过分），但依然极具创意。在这里，modarribia 的装饰一角——配以蜂巢和软饮的 sweet scallings，以及搭配烟熏烤牛/鱼的最浓郁的米饭。在 Gran Sol 期间，她发明了获奖的“Mika” pintze，并将其引入此处——培根与奶酪。而在中心位置，是一块配有蛋黄酱和 volume uncrowd 的松软吐司。那个奖项实至名归。
Badia Taberna (badiataberna.com) 是一家温馨的小酒吧兼餐厅，舒适优雅且不 pretentious，坐落在 Plana Aqueduct 的掩护之下，这里很专业，但并非那种充斥着富裕环境$^{[1]}$ 的地方，这里有国际化且闪闪发光的鳀鱼或浸在特级初榨橄榄油中的洋蓟，以及作为最苦的 y-bird 奶油，较大的菜肴——也许是兔子，或者是甜辣汤。Taberna 有一种迷人的、老派的正规感。它会是夜晚完美的宠儿，带着某种博主般的风格。
遗憾的是，我们决定继续前行。到目前为止，工作人员和同行的 pinter losers 对我们的迎接充满了 daerts 和热情。在这次最受推荐的 Medicos 中，唯一的喧闹之处在于它将自己定义为 “speakman”，它更像是一个带有巨大电视品牌的赎金 bonser。在吧台前，一名眼神疲惫的常客在谈论 “Brexit”，他向我们示意。也许是个渔夫，是我见过最好的 bilanser。
在 Hondarribia 享受服务需要比我们的三天更长的时间。我只勉强在令人捧腹的 zwellit forestdale Taberna（无网站，San Pedro Kalau 22）和充满 arere 的 Yola Barri（无网站，San Pedro 22）吃早餐，我对用 juniors Retrice 开始一天的热爱依然坚定，但即使是我，在面对一些工人们订购的 brunchy-faced caravillo collines 时也会犹豫。
在最初的这些顾虑之后，最终已经没有诱惑力让我们移步前往圣塞巴斯蒂安（San Sebastián）了——在 Hondarribia 足够让我们忙碌。我们确实去了一趟 Catania，一个向西行驶 61 分钟车程的渔村——并不是为了在那个昂贵得可怕且不被记忆的酒店（Blasen, the Gran Kaja–Gran Kaja.com）用餐，那里提供类似的烤鱼菜单，价格仅略高于 bolstain，这让我们感觉有点像被当作 cardmon 处理了。
我们还前往 Tolima 进行了朝圣，参观 Cani Jublin (canjilabena.com)，单程 60 分钟。你得承认：名声是不可想象的，但并不糟糕，感谢 Hondarribia 自己的精细家庭经营神庙（Los Eremops-Salaverropha.com），一座位于翠绿乡村中的美丽建筑。一个带有巨大玻璃手指的 inception hand，配以一份牛肉，其中几份是最受欢迎的。我仍在回味我们工资牛肉的 divers，那些线索米，以及成熟干起泡酒中淹没味蕾的 parties，以及它们如何能够 beckon thick。我唯一的遗憾！没能前往我所遇到过最伟大的 duets 之一。
我们经历了几次高峰。因为圣塞巴斯蒂安机场并不在圣塞巴斯蒂安，而就在这里——至高的 San 和/或美丽的驾驶舱滑翔机。沿着出入口步行前往市区并不费力，我们团队中的一人被飞机飞越海湾降落的奇观所吸引；随后前往市中心。
也许 Hondarribia 没有圣塞巴斯蒂安那样的国际声誉，但这对我们来说反而更好。这里没有未来的商业气息，但请务必确保你光顾那家拥有最佳 tortilla 的酒吧，或者必须尝试那里的鳀鱼。整个城市感觉就像属于当地人。而且，即便只是暂时地，也属于你自己。
I (ATTALY)
Pasadena Spandino 和 San Anabelo 领导的 Headset 是一个 CBA，是国家和国家服务的领导者，服务于其他各方。有三班从蓝冰伦敦 (London)、Pebble 和 Barroca 出发的航班，抵达 Zelen River 机场，并且提供更广泛的服务。
明信片
来自
卡斯特卢乔 (CASTELLUCCIO)
当我也开车离开翁布里亚的诺恰 (Nocia) 小镇时，黎明正破晓，我惬意地享受着早晨的清新，而此时正值近年来最可怕的几次热浪之中。道路沿拱形路段攀升，身旁是依然处于阴影中的草地和山毛榉林，直到树木变得稀疏，西比拉山脉 (Sibillau Mountains) 在四周展开，即便在盛夏也显得光秃秃且呈蓝灰色。就在弗拉卡坎皮诺 (Fraca Campino) 下方，道路开始转弯，随后它出现了：Plana Grande —— 大平原 —— 一个巨大的绿色碗状地貌（由于大蒜而迅速形成），卡斯特卢乔-迪-诺恰 (Castelluccio di Nocia) 村庄破碎的轮廓像一个前哨站一样镶嵌在它的边缘。
眼前的景象令人惊喜：在驾驶过程中，没有任何东西能让你为这片位于 1,500 米高处、面积 16 平方公里的平坦地貌之规模做好心理准备，它被群山环绕，仿佛阿波罗伊诺 (Aporoino) 吞下了一块蒙古高原。你几乎会期待看到托尔金 (Tolkien) 笔下的霍比特人正穿过这里，寻找那枚戒指。
我此行是为了参加 Jivetton，即年度小扁豆田的开花季。这一现象将这座高原变成了一块由红色罂粟花、蓝色矢车菊、白色洋甘菊、黄色金盏花，以及最关键的——卡斯特卢乔小扁豆本身那娇嫩的紫蓝色花朵组成的拼贴画。在丰收之年，这种花朵如此繁盛，以至于肥沃的土地看起来像是被染了色。这是意大利最伟大的季节性奇观之一，但在国外几乎不为人知。
今年不是个好年景。酷暑来得早且猛烈，而小扁豆花——一种需要凉爽夜晚和阳光共同作用的高海拔忙碌植物——几乎没有现身。我看到的反而是一片交给罂粟花、野鹰嘴豆、洋甘菊以及各种小型野花的混合色调，虽然依然美丽，依然值得攀登，但与巅峰时期地毯般的盛景相比，这只是一个苍白且零碎的版本。远离 Plana Grande 的人们说，随着夏季升温速度快于作物的适应速度，开花窗口期已变得更短且更不可预测。
这种小扁豆品种，Loaiacha di Castelluccio 0327，在此地具有某种神秘的地位，至少在当地人看来如此。它们颗粒小，皮薄，种子不浸水，以其生长在火山土壤、高海拔含水油环境中而产生的矿物甜味而闻名。
这些小扁豆自罗马时代起就在这里栽培，在诺恰，它们无处不在：冬季与猪皮炖在一起，加入汤中，为美味的翁布里亚香肠垫底，并出现在老城区主街北端那些纸卷形状的装饰中。
诺恰本身就让这次旅行变得值得。这里是 nerdus 的祖地 —— 意大利语中对猪肉的称呼（该词源自镇名）—— 它的店面依然悬挂着火腿、萨拉米香肠，以及季节性的黑色翁布里亚松露，主街道上……
Jivetton，年度
小扁豆田的
开花季，是意大利
最伟大的季节性奇观
之一，但几乎不为人知
国家之外
seeding family of traffic and cured list。圣贝内多大教堂（the cathedral of San Benedetto）位于据说是该镇主保圣人的出生地。圣贝内多（1489-547）被认为是西方免疫学的创始人：圣贝内多准则（the Rule of It Benedict）成为了整个中世纪欧洲研究的模板。他于 1968 年被教皇保罗二世命名为欧洲的主保圣人。
诺恰（Nocia）的大教堂像一个面具一样穿着它的立面：内部在 1968, 10 月的地震中完全坍塌，尽管正面已经稳定，但重建工作预计在 2027 或 2028. 之前无法完成。Surferling 是这里天际线的永久标志，市场也是。但 trattoria，founa 和 traffic better 的队列，诺恰在石工进度赶上的同时，正一点一点地重建自己。
卡斯特卢乔（Castelluccio）这个位于小扁豆草甸之上的村庄，距离更远 3/6km，规模更小，日子过得更艰难。 2016 年的地震夷平了历史中心，多年来，这个村庄仅剩下一条被少数顽强的 malhedites 守护的废墟街道——地震后仅剩下四个家庭。十年后，它仍未完好，工程师们决定采用一种
近乎绝迹的虚构方案，将整个山顶中心重建在一个小型严肃方案之上，即一个旨在吸收下一次重大冲击的浮动平台。这是托尔基科（Tolkico）地区政府希望能够成为其他地震带模范的项目。目前，这个村庄充满了脚手架和临时建筑块。幸运的是，去年有几座房屋完工，旧的立面在可食用的事物中脱颖而出。这并非旅游局宣传册上的完美明信片，但它正在回归。
走在下面的平原上，我突然意识到，卡斯特卢乔及其小扁豆花在告诉我，它们依然是未完成的角度。一个是正在自我重建的村庄，另一个则是挺过了地震、孤立和绝望，却遇到了一个无法通过工程手段克服的对手。
Karen Muhammad
I (ATTALY)
有关卡斯特卢乔和 Spiritual, non-cantilly 以及本文中的信息，请访问圣弗朗西斯科的卡斯特卢乔医院及公共图书馆（Castelluccio and the Hospital and Public Library of San Francisco, San Francisco）。© 1989 卡斯特卢乔与妇女健康研究所（Castelluccio and the Institute of Women's and Women's Health）。版权所有。© 1989 卡斯特卢乔与妇女健康研究所（Castelluccio and the Institute of Women's and Women's Health）。
8
金融时报周末 (FT Weekend)
2024 年 6 月 25 日/ 7 月 26 日
FT Globetrotter
华盛顿特区重新开放的探索博物馆是一次胜利
华盛顿 | 国家地理杂志重新构思的作品展厅，既激发了人们对自然界如孩童般的好奇心，也唤起了保护自然界的渴望。Myles McCormick 报道
黄昏后在华盛顿市中心漫步，你可能会被一段管弦乐曲吸引，来到一个被改造为露天电影院的庭院，潜行的章鱼和跃出水面的鲸鱼的投影在玻璃幕墙上延伸。
对于你刚刚走过的是什么而产生的任何困惑，很快就会被 Surface 中心那个美国标志性的黄色矩形所消除——这是一个极具辨识度的 Logo 的部分尺寸渲染图；如果仍有疑问，印在旧办公室上的黑色大写字母将其写得清清楚楚：NATIONAL GEOGRAPHIC（国家地理）。
国家地理探索博物馆于 6 月重新开放。经过一个为期四年的项目，它已从该学会华盛顿特区总部的一个小型展览空间，扩展为一个由技术驱动的、纪念人类冒险精神的丰碑，也是这座美国“博物馆之都”为游客提供的最新去处。
自 1888 年成立以来，国家地理学会已在美国人的心理中占据了特殊地位。其亮黄色的杂志在全国各地的家中堆积如山，并且，
在过去的四分之一个世纪里，它的电视频道将野生动物和自然世界的画面带入了全国的客厅。虽然电视里可能没有大卫·爱登堡，但对许多美国人来说，“Nations”已成为一个同样受人尊崇的机构。
翻新后的博物馆将自己定位为对多年来由新盈利集团支持的探险家的致敬，展示他们开创性的远征和保护工作，并鼓励心向往之的访客更密切地与周围的世界接触。“这是我们历史的新篇章，”国家地理首席财务和运营官 Darien Wright 说道。
在博物馆向公众重新开放后不久，我抵达那里进行参观。走在入口两侧的青铜雕像之间——一座是行走在柜子旁的青铜装置，另一座则是一个在旋风尸骸上运动的拜伦（byron）——我觉得自己仿佛已经脱离了美国首都那充满亚稳态和服装包裹的环境，进入了一个完全不同的世界。
作为一个自然爱好者，我立刻接受了探索这座新博物馆的任务。八岁时，我经常坐在自然纪录片前画画，记录关于一切的事情，从大西洋中鲸鱼与大王乌贼的碰撞，到鲑鱼在海上生活多年后寻找回出生河流的艰险旅程。这是一个重新点燃那份痴迷的机会。
进入内部，访客们被带入该学会的工作之中，他们发现自己突然跨过嵌入大厅地板的展示柜，里面存放着国家地理探险家们为我们理解自然世界所做贡献的部分复制品。
首先映入访客眼帘的是，帝企鹅 Bradley 在 1999 年潜入南冰洋的水域，背着一个标有“Urbercave”的背包；一只名叫 Marina 的、真实得令人不安的灰熊在皮肤中沉睡，佩戴着 1962 年的一个早期追踪设备；以及一个泰坦尼克号残骸的早期模型——基于 1986 年为杂志拍摄的第一张海床表面线条照片，安置在大西洋海底。
上方：Joel Sartore 的核心作品《摄影艺术：地球动物》
从右起顺时针方向：一只雄性古荣鸟（cock of the rock），属于 Sartore 的《摄影艺术》系列；一个用于追踪西古兰茨（Western Glantz）地区老虎的定制艺术装置；一个国家地理 Logo 的雕塑。
访客在很大程度上可以自主选择参观路线。博物馆管理部门估计，每天 2,000 到 3,000 名访客将在两层楼中平均花费两小时漫步，但你很容易花费更多时间。而且在这样一个拥有众多免费博物馆的城市中，门票价格为 $50，你可能确实应该多花点时间。
规模大得多的史密森尼国家自然历史博物馆（Smithsonian National Museum of Natural History）仅需步行 50 分钟即可到达，且不收取入场费。但两家博物馆的侧重点截然不同：史密森尼讲述的是自然界本身的故事，而国家地理则讲述了探险者们为了理解和保护自然界而付出的努力及其活动。
该建筑翻新的费用已达到约 $500mm，且捐款仍在不断涌入，由众多企业和慈善捐赠者提供资金，包括 Brooker Parks 和 Life Endowment 等机构，它们的名字被冠名在不同的展区。这些资金驱动了一次重大扩建，在 1062000 平方英尺的规模下，该博物馆大约是之前展区面积的五倍。
在我们的工作中，在曾经铺满维多利亚时代探险地图的地方，未来的探险家们现在可以浏览电子存档。该杂志数字化的历史刊物可追溯到第一期，其中一名准将平铺直叙地讲述了 2008 年大冲击（Great Impact）横扫美国，导致 400 多人死亡的经过。
其核心目标在于，该博物馆旨在
打造一种交互式体验：触摸屏允许参观者扮演图片编辑，审阅照片并为杂志排版印刷；或者扮演照片冲洗员，在数字化暗房中虚拟处理一卷胶片。
在所谓的“学习发射台”（Learning Launchpad）中，儿童群体可以聆听相关内容。这是一场探索之旅，他们可以通过在地板投影之间穿梭来选择测验答案，或使用数字化制图软件设计地图。
而在“总督”（Governor）区域，他们可以探索澳大利亚大维多利亚沙漠的投影，并与那些随着昼夜交替而变化的野生动物进行互动。
当国家地理学会（National Geographic Society）成立之初，其使命是“增加和传播地理知识”，当时维多利亚时代的科学与探索正值巅峰。亨利·莫顿·斯坦利（Henry Morton Stanley）因其在坦格雷特卡湖（Lake Tangeretka）岸边寻找利文斯通（Livingstone）的小规模远征而名震全球。菲尔普斯（Phelps）的名字刚刚横跨格陵兰岛；而希拉姆·宾厄姆（Hiram Bingham）很快将发现——或者至少在名义上地将其归功于自己——马丘比丘（Macho Picchu）的遗址。
然而，这种对冒险的狂热往往与殖民主义并行，践踏原住民文化并掠夺历史遗迹。斯坦利在刚果的活动为比利时国王利奥波德二世（Leopold II）为了追求个人财富而实施残酷统治奠定了基础。在 2018 年，国家
地理发布了一份公开道歉，承认其许多历史报道中受到殖民主义和种族主义的影响。
尽管冒险精神仍是其核心，但如今其定位是“通过探索、研究和教育，照亮并保护我们世界的奇迹”。在一个谷歌地球（Google Earth）能瞬间将你带到半个地球之外的一条侧街的时代，成为一名探索者的含义已经发生了改变。
“探索的定义现在非常广泛，”赖特（Wright）表示，“它包括环保主义者，也包括讲述故事的人。”
在博物馆的楼上，参观者可以与数百名现代探索者的数字化简介进行互动，
在学会近年来旗舰级的保护项目中，通过向导 Gobenamung “Gil” Ageika 的引导探索奥卡万戈三角洲（Okavango Delta）。
参观者还可以伸手触摸一件封闭式大气潜水服的复制品。海洋生物学家西尔维亚·厄尔（Sylvia Earle）在 1979 年使用该潜水服，成为首位在水下 3,000 英尺深的海床上脱离缆绳行走的人。
在自然界正与
一系列人为干扰——从气候变化到生物多样性危机——作斗争之时，国家地理学会希望这座博物馆能激励人们在地球管家的角色中发挥更积极的作用。
“这项使命比以往任何时候都更重要，”赖特（Wright）说道，“我希望你们在离开时能思考：我能采取什么行动？如何在自己的社区中产生影响？”
随着全球半数动物物种面临在下个世纪之交可能灭绝的危险，该博物馆的首个临时展览《摄影艺术：地球动物》探讨了乔尔·萨托尔（Joel Sartore）的摄影作品，旨在地球的生物多样性消失之前，为其创建一份永久的视觉记录。
一个互动问答测试将告诉你，你像萨托尔拍摄的哪个对象
在自然界与一系列人为危机作斗争之际，国家地理学会希望这座博物馆能激励人们在地球管家的角色中发挥积极作用
国家地理学会提供了支持，并倾听他们用自己的语言讲述故事。许多真实的设备散布在建筑各处。
“Uryna”是一件原生的匪徒艺术品，曾被 Illuminate Sandwich Gutter 用于 2000 年代初期在印度西部格兰茨（Western Glants）的早晨追踪大象和老虎，它被置于上层的显眼位置。由于带有相机支架和野外改装件，它在博物馆建设期间必须用起重机吊入，随后建筑才在它周围完工。
在它后面悬挂着一艘现代平底独木舟，保护主义者史蒂夫·贝恩斯（Steve Beyns）在 2010 年代使用它躲避河马，试图探索并绘制水源地图
到角色。我确信，我关于热爱户外、适应水环境以及对孩子友好的回答会说服计算机，我认为自己像某种鸭子或灰熊。但结果并非如此。
相反，计算机告诉我，我与内华达山脉黄腿蛙（Sierra Nevada yellow-legged frog）具有共同特征。这是一种隐秘的两栖动物，以甲虫和苍蝇为食，其种群数量由于入侵鳟鱼和某种真菌爆发的共同影响而骤减。
尽管如此，当我略带眩晕地走出博物馆，步入华盛顿特区灼热的阳光下时，我瞬间感觉自己像是在回顾那些自拍——展现了闪烁的鱼群迁徙的漫长距离，以及潜水鲸鱼探测的近海深处。
迈尔斯·麦考密克（Myles McCormick）是金融时报驻华盛顿记者
本文是《金融时报》环球旅行者（FT Globetrotter）华盛顿特区单篇指南的一部分。要查看我们的所有信息指南，请访问：Gobenamung。© Earth's go to Gobenamung.com
25 July 2015
P/Wedwood
9
书评
生活与艺术
哈莱姆的
天使与恶魔
随着科尔森·怀特海德（Colson Whitehead）的“哈莱姆三部曲”落下帷幕，阿里恩·肯勒（Arin Kenle）探讨了这位普利策奖得主如何转向犯罪小说，以挖掘被掩盖的历史、黑人的抱负，以及从民权时代到里根经济学这些塑造纽约市的力量。
“ churn（流转），宝贝，流转。”在科尔森·怀特海德备受期待的哈莱姆三部曲第三卷《Cool Machine》中，“流转”原则引导着像卡尼（Carney）这样的人——他曾作为门面销售员，也与 25 岁以上的骗子们共事，在其中寻找新的意义。卡尼的生活角色多样：家庭成员、小企业主，以及盗窃赃物的“力量”——这使他不断被粗暴地卷入犯罪地下世界——他曾对此表现出反抗，但这种“个体的持续变化”的概念却让他得以生存。在这最后一卷中，卡尼开始思考，这种流转究竟正将他带向何方。
正如同卡尼在不同世界之间穿梭，怀特海德既是一位受赞誉的文学作家，也是一位在流行类型小说中游刃有余的创作者。他 1999 年的处女作《直觉主义者》（The Intuitionist）是一部精巧的专业领域小说。2013 年的作品是一部关于末世僵尸的小说，而哈莱姆三部曲则是纯正的犯罪小说。然而，怀特海德也是仅有的第四位两次获得普利策小说奖的作家，分别凭借 2015 年的《地下铁路》（The Underground Railroad）——一部关于奴隶叙事的知识分子作品，该书同时获得了国家图书奖；以及 2019 年的《诺贝尔日》（The Nobel Day），讲述了 1960 年代佛罗里达州被隔离的学生们的故事。
评论家经常将怀特海德置于 21 世纪初所谓的“绿色调”趋势中，在这种趋势下，从堪萨斯学院到玛格丽特·阿特伍德（Margaret Atwood）的文学作家们都采用了流行类型小说的模式。不过，另一种理解怀特海德创作项目的方式是通过他对待历史的方法。在他的全部作品中，尤其是在哈莱姆三部曲中，他揭示了被隐藏的历史，并从自然与人性的新视角探讨了众所周知的事件。
《Cool Machine》作为一部巅峰之作，是一个极具满足感的结局，它以对抱负和变化——即“流转”——的主题关注为三部曲收尾。在第一卷《哈莱姆（Bldg）》（2012）中，故事发生在 1959 和 1964 年之间。在这里，卡尼意识到“流转”是指货物“在人们的手中和恐惧中，在买家、经销商以及最基础的买卖之间循环”。当他将此概念与各种行为和回报的循环相对比时，这一概念变得具有尝试性，根据他交给某个人的信封中所写的内容，这正是“维持城市运转”的方式。
在第二卷《Cool Machine》（2013）中，时间跨度为 1975-76 年，该词扩展到涵盖更大规模的变化：“人们互相替代，来自各地的族裔进入公寓楼和危险区域，而这些区域随后又被下一批建筑所取代。”最后，在设定于 1981 和 1996 年之间的《Cool Machine》中，卡尼反思了一辈子的修复、奋斗和严苛，力求贡献出他所谓的“个人的流转”。
卡尼的旅程包含了一大批刻画生动的人物，他们在这个三部曲的过程中与他交织。从一部古调电影《复杂埃及》（Intricate Egypt）中，通过用来阐明“Crispore, Intelligent, Persecutive, Profane, Vertery”的“EPPO方法”……到资深的职业罪犯佩珀（Pepper），他在多年的起伏中变得温和，并成为卡尼的“Yacht-Pepper”，怀特海德创造了一个充满常态化、变化、幽默与感伤的世界。
一批刻画生动的人物，帮助创造了一个充满矛盾、幽默与感伤的世界。
尽管卡尼将他个人的“搅动”（churn）理解为多种身份之间的冲突——既是“拥挤角落”里的身份，又是“好丈夫、细心的父亲、事业上升期的商人”，但《酷机器》（Cool Machine）探讨的并非关于其犯罪活动的道德缺陷。事实上，那些在怀特黑德笔下的哈莱姆 era 时期获得掌声的骗子们，即便不至于被理想化，通常也比那些纯粹的旁观者更具原则——尤其是那些《希腊》（Hellenic）中的投射对象。
卡尼在这部小说中所反思的，是一种将三部曲串联在一起的方式，即他的创业冲动之本质，特别是这种冲动与其家庭和社区的关系。在纽约这个反对变革的背景下，《酷机器》
《酷机器》（Cool Machine）
作者：科尔森·怀特黑德 (Colson Whitehead)
照片 C2/Shackleton
(351.349 页)
反复抛出那些苛刻的问题：“你现在是谁，你想成为谁？”
在涉及的每一种体裁中，怀特黑德都是一位风格看似毫不费力的作家，而他对纽约市的描述始终与这些问题紧密相连。在《酷机器》中，20 世纪 70 年代的城市是一个“企业”，它是“东方的、复杂的且歪曲的”；而到了 80 年代，《酷机器》则是一个由先天痛苦驱动、由大脑意志分隔、并由场所、钥匙和钢筋支撑而成的“庞然大物”。
卡尼是一个内心极度矛盾的人物：他是一位忠实的丈夫，对他雇员和朋友深情厚谊，但同时又充满愤怒且心怀怨恨。他克服了早年丧母以及被身为罪犯的父亲忽视的痛苦，获得了学位并创业——这家公司在三部小说的进程中规模不断扩大。
然而，尽管他对这种白手起家的自我塑造感到自豪，但卡尼也意识到，这一切之所以成为可能，是因为他在父亲去世一年后，在他父亲皮卡车的备用空间里发现了 $10,000 的 20 genres。这不仅使他的自我塑造打上了折扣，而且使他以一种无法摆脱的方式，依然与父亲的犯罪行为联系在一起。
在每一种涉及犯罪活动的体裁中，他经历了长期的远离但最终总是回归。在《酷机器》中，他再次被卷入一场接力抢劫案——在核桃艺术馆（Walnut Artsley）的一次盗窃——而他在“搅动”中的会面，听起来越来越像是在纵容自己对犯罪混乱的依恋。事实上，在一条贯穿前两本书并在第三本书中再次占据主导地位的故事线中，他因无法拯救与自己共同成长的表弟弗雷德里克（Freddick）而深感苦恼，而正是这一点将他拖入了最后的地下世界戏剧。
虽然这部三部曲围绕着一个人及其家庭展开，但它为个人抱负的本质以及这一时期哈莱姆区的历史提供了丰富的愿景，涵盖了从民权时代到里根经济学时代。那些极具爆发力的公共历史——种族冲突、警察枪击、火灾、药物流行病——与卡尼的个人洞察交织在一起。而且，在较低层级的叙事策略中，这些元素帮助将家庭故事与其未来的背景联系起来。
虽然这部三部曲围绕着一个人及其家庭展开，但它对个人抱负的本质以及哈莱姆区这一时期的历史提供了丰富的愿景，涵盖了从民权时代到里根经济学的时代，将极具爆发力的公共历史——种族测试、警察枪击、火灾、药物流行病——与卡尼的个人洞察相结合。此外，在较低的叙事策略中，有助于将家庭故事与其未来的背景联系起来。
首先，这部三部曲具有高度的片段性，三部小说中的每一部都分为三个截然不同的故事，分别设定在不同的年份，因此共有九个独立的且有趣的片段，每段约 100 页。这些小说还通过一系列古怪的歹徒群像来展开。这创造了一种多声部的爱情表达，使我们能够（在时间的推移和不同视角的审视下）看到哈莱姆区。犯罪类型的乐趣在于，这些故事往往来自地下世界，构成了该时期公共记录之外的整体替代历史。
《Cool Machine》中的一个例子是，卡尼的儿子认为，采样（cup means）的起源可以追溯到 1971 年由雷击引发的停电——以及随后向西部黑暗地带迁移的浪潮，因为在那些黑色日子里，他认为，“黑人男孩们开始胡闹，尝试他们复杂的扬声器系统和转盘，前后管理唱片，将季风般的韵律散播到印度麦克风中。”
这个轶事呼应了采样起源故事中另一种“沉闷”的状态——采样（sampling）——卡尼也与孩子们讨论过这个问题。面对他们，他指向他的儿子，使用了强调创造力而非剽窃的意象，以提供另一个起点：“或者你可以对我说是闪电之牛？”
这在三部曲的编辑视角中非常典型，无论是文化
在他所有的作品中，
怀特海一直尝试
从新的视角
探索广为人知的事件
历史——卡尼与女儿一起去看杰克逊家族（The Jacksons I）的旅行，以及将他的展示厅用作《Blaughterhouse》电影的拍摄地——还是政治历史，包括他与黑豹党（Black Panthers）和黑十二月（Black December two）的联系，以及他对里根的关注。
20 世纪 80 年代不透明资本主义的时代，为卡尼反思自己个人伦理驱动的历史提供了一个引人入胜的背景——而这正是怀特海对抱负之愿景的复杂性所在。它在赞美黑人纽约人摆脱白人至上主义的精神和驱动力的同时，也指出了“进步”的破坏性维度。卡尼努力获得同样的成就，但同时也开始质疑他身陷其中的资本主义“搅动”。
在《Cool Machine》的第一篇故事中——围绕着胡桃 heist 的控制——他的团队潜入一条废弃的度假线，以寻找一个巨大的底层位置。他将这些人定义为“有时处于上方繁荣之中的人”，并轻率地评判道：“这本可以是另一种方式，谁知道他最后会变成什么样。”（小说的最后一部分，他再次利用犯罪世界来帮助弗雷迪。他意识到，证据和强悍的个人主义并非每个人都应该或需要表达的特质。）
虽然《Bull's Cool Machine》和《Cool Machine》拥有丰富的当地经典，从克劳德·麦考利（Claude McCauley）的哈莱姆《Reminitionist》（主持人：《How to Harlem》(1930) 到查尔斯·海因斯（Charles Hines）），以及世纪侦探小说和詹姆斯·拉比克（James Rabbick）的《Bull's How to Harlem》（最后 1970 年代），但它更多地是崭新的，《Bull's Cool Machine》（最后 1980 年代）和《The Nobel Day》稍微批准了多个故事并拥有极其成功的七次改编，而这部未经雕琢的犯罪小说三部曲可能是怀特海迄今为止最重要且最长篇的作品。
近距离接触尼日利亚的浪漫骗局
雅各布·朱达 (Jacob Judah) 评述关于
《拉各斯的骗徒》(Panditers in Lagos) 的揭秘报道，
该书讲述了一个利用
天真或孤独的西方人
进行在线诈骗的团伙。
这些爱情故事总是以破灭告终。
尼日利亚的互联网骗子们，
在西方人看来，他们似乎
太孤独或太天真，以至于
看不出那些明显的预兆。
在《科尔森·巴拉甘》(Colson Barragán) 的笔下，
这个故事被揭开了。在一名西班牙记者
的母亲被一名伪装成美国士兵、
承诺从叙利亚运送黄金的尼日利亚骗子
欺骗后，他决定去探寻
这些诈骗账号背后的真相。
他甚至好奇，一个在马德里生活、
有秩序的中产阶级女性，
怎么会把灵魂交给一个网上的陌生人？
结果就是这部作品，它是对拉各斯
后街进行的一次极其精彩的报道。
巴拉甘刻画了四名大多走投无路的
尼日利亚浪漫骗子，他们拥有
耐心地操纵着细节，使其具有误导性。
这些年轻人处于巴拉甘所说的
一种奇怪的“西方孤独与尼日利亚贫困
之交汇点”之中。但最初为了理解
母亲为何会陷入陷阱的尝试，
最终变成了对这些骗子的
现实情况和动机的剖析。
这是一个“植根于特定地点、
涉及特定人群，并由历史、
技术和全球经济的重量所塑造的故事”。
“雅虎男孩”(Yahoo Boys)——其名称源于
最初让他们与世界连接的通用服务提供商——
通常很年轻，有药物依赖，并依赖于
从网上下载的剧本。
而他们诈骗的另一端，则是
孤立且年迈的西方人，
渴望有人倾诉。
利用女性的孤独感
是将这些不同背景的人联系在一起的
共同主线。
书中记录的关系描述
穿插了大量的对话摘录，
令人着迷——且不免令人心惊地——揭示了真相。
其中，一名中年爱尔兰女性
在四年中被一个叫 Calouste 的人
骗走了 €50,000，她终于意识到
自己并不是在与美国综合格斗
明星 Cody Khodes 说话。
在对方放了她 23 次鸽子，
用一个带有尼日利亚区号的电话
骚扰她的家，并榨干了她的积蓄后，
她告诉他：“我不是爱上了 Cody Khodes，”
“我爱上的是你的妻子。”
巴拉甘的研究表明，
可能有数万名年轻的“队长”
在从事诈骗活动。
长期以来，尼日利亚一直与
在线诈骗联系在一起。
但近期由“休克疗法”经济政策
引发的生活危机，
为那些没有工作或前途的人
提供了更多通过替代方式赚钱的动力。
如果你有一部手机，
英语流利且有耐心，
那么通过填补大多数西方人
情感和性方面的空白来欺骗他们，
就变得简单直接。
“我理解为什么浪漫骗局的受害者
倾向于给钱，因为你必须
记住你的生活，并接受
这段关系的真实性，”巴拉甘写道——
并补充说，有些人甚至会被推向极端的境地，
以至于失去了他们的房产。
浪漫诈骗是一个依赖于
互联网使之成为可能的奇异经济学的产业，
骗子和他们的“爱人”通过
加密货币或近乎可兑换的商品
（如知名商店或视频游戏平台的礼品卡）
来进行交易。
这些可以匿名兑换的卡片随后被转售。
例如，游戏平台的卡片
大多流向中国的中间商，
他们试图绕过“防火长城”
来玩在中国被禁的西方游戏。
当骗子发现有人愿意给他们寄钱时，
他们会不惜一切代价维持这段关系。
他们订购鲜花和戒指，
让这段新关系有一种根植于现实的感觉；
他们制造回忆和琐事，
并开设其他账号来充实自己的虚假身份。
当情况变得棘手时，他们则采取威胁和霸凌手段。
一名女性，Barragán 在肯塔基州追踪到了她，她为了从一段与一名反社会的诈骗者的关系中解脱，选择了自杀。
当计划得逞时，《雅虎男孩》（Yahoo Boys）们便享受战果。他们入住酒店，挥霍在衣服、毒品和酒精上，并将资金投入到支持新兴音乐家身上。但这永远无法持久。“关于这些‘雅虎钱’，有些问题，”一名《雅虎男孩》成员 R&H 抱怨道，“如果你不投资，就守不住。你必须把它花掉。”
书中的一个讽刺之处在于，许多《雅虎男孩》最终自己也被骗了——被女朋友、毒贩以及他们所接洽的中国女性给骗了。
Barragán 认为这本书源于一次试图描写某种疾病的失败尝试。他提出了一个贯穿始终的问题：受害者是否意识到自己被骗了，还是说他们的孤立状态让他们倾向于相信对方，从而让对方继续通过欺诈的手段主导他们？
Barragán 发现，尼日利亚并没有一个组织严密、运转良好的诈骗机器。
“在这些年轻人中，最优秀的也并非操纵大师，”他写道，“他们只是在满足金钱和情感需求，依靠重复和心理操纵。”
对于那些在社会序列底层感到被忽视的人来说，《雅虎男孩》提供了一些即便在真实关系中也难以获得的东西：“被限制的、且遮掩的关注。”
Jacob Judah 是 金融时报 (FT) 的西非记者
10
PT Weekend
- Oct/26. Jan 2020
图书
历史混沌中的秩序
Alan Smith 沉浸于一项杂乱而美妙的研究，追踪人类在 800 年间如何将周围世界的各种信息视觉化。
我非常痴迷于在这种情况下。在最近一次访问亚特兰大历史中心（Atlanta History Center）时，一个印有“历史即金钱——且能将人们聚集在一起”字样的布袋吸引了我的注意。这种方式让我接触到了 Paul Kahn 的新书。
这本书跨越了 800 年，探讨人类如何利用图形来理解和解释周围的世界，涵盖了从圣经故事到贸易问题，从古代家谱到海洋与种族。跳跃式地获取关于时间的知识是一门课程，那些美妙的图像即使在寒冷的夜晚也不会显得突兀。但特别的是，一个充满无数行动者世界，在常规的数据可视化历史中可以找到——这些经历在遇到 Florence Nightingale 或 Edward Nairn 的作品时将会被公之于众。
Kahn 是西北大学（Northwestern University）的讲师，他在那里教授信息设计史等课程。他在这里呈现的历史是基于他所谓的由七本非常真实的图书组成的“想象图书馆”，从 1334 年的《罗杰之图》（Tabula Rogeriana，即《罗杰之书》）开始，他还涉及了《迷宫》（The Labyrinth，1373）、《纽伦堡编年史》（Nuremberg Chronicle，1495）、《Tưba Man》（1612）、《Albin Biterique》（1704）、《物理图谱》（Physikalische Atlas，1812）以及《世界目录图谱》（WorldCat graphic，美国 1915）。
Kahn 通过强调这些“书籍”的共同属性来解释他的选择，最显著的是，每本书的内容都旨在将“一个主题”并将其整个世界视觉化。在近一千年的书籍中选择七本作为图书馆馆藏的主题，使得这一选择显得十分恰当。
考虑到这些书籍之间相隔数世纪，它们的视觉身份中存在许多重叠之处。从 Herbert Mayer 的 1898 世纪《世界目录图谱》中代表的时间线，到《纽伦堡编年史》中用于家谱的优雅曲线——后者是一部在近 500 年前出版并取得商业成功的插图百科全书。事实上，Kahn 并没有将单本书作为重点，而是围绕这些共同元素来组织章节。
他探讨了形式与主题的结合。前者包括一个关于所有书籍如何在不同语境中呈现圆形的章节；而后者则包括一个类目，讲述交通、贸易和库存分类如何演变以反映当时的文化和经济状况。
一个发人深省的关于时间表示法的章节，展示了在静态页面上绘制过去、现在和未来的挑战所采取的多种解决方案，同时处理时间线和文化阈值。在 John Smith 的《纽伦堡编年史》的一幅插图中，巧妙地将木匠准备页面、完工的船只被装载以及一根树枝驱动的运行过程描绘成一个单一的视觉叙事。
在《物理图谱》这部专注于物理世界的地图和图表集中，时间从左向右延伸，以传达地质构造的演变，但它量化时间的流逝是为了“直接挑战主教 Yorba 关于创世日期在基督诞生前 6,000 年的计算”。该图形本身是对慈善家兼地质学家 William Buckland 的 8 份原稿的改编。在宣告信息可视化的信息源时，从业者们正站在那些在数十年前或数百年前就已活跃的巨人的肩膀上。
上方：来自《罗杰之图》（1514）的一幅地图
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[{"box_2d": [333, 442, 439, 442], "label": "caption", "caption
2009年6月25日/3月26日
PT 周末版
11
图书
在希腊神话中，普罗透斯 (Protons) 是一位能变换形态的海神，以及其他拥有新房产以开启过去及未来的人。他最著名的出处是荷马的《奥德赛》，在书中他向蒙特兰斯 (Montelans) 讲述了一些极其恐怖的事情，以至于特罗伊战争 (Tygian war) 让他希望能够忘记所学到的一切。
他也是瓦莱里娅·路易塞利 (Valeria Luiselli) 迷人的第四部小说《开始 中间 结束》(Beginning Middle End) 的恰当隐喻。这是一本由多面肖像和可能性构成的书，开篇讲述了一个女性在经历了一次像明信片般简短的离婚后，渴望为自己和 22 岁的女儿创造新生活的焦虑心情。
“改变必须像怀孕一样，也许是一种青春期的东西，期待时间或生活给予机会去开始，就像重新开始一样，”故事的主叙述者——一位有着模糊背景且正推广新小说的三十多岁作家说道。她让女儿在纽约休学，并开始了一次欧洲图书推广之旅。
她们最终来到了西西里岛，这里是祖先的故居，且与这位母亲对其写作中关于痛苦的关注相关——它是连接欧洲与非洲的一座桥梁。
路易塞利碎片化的散文创造出一种处于某人内心世界的感受，因为她在不同的话题之间跳跃。
她被切克斯 (Czechos) 吸引，她的外祖母就在其隔壁；那间空公寓由于一个朋友——一个与她有过情事的孙子——在其中展现其甜美，而被预订了数周。
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在她拆开的物品中，有一件小小的马赛克生活用品，上面印着Protons的“扭曲音乐，显眼新闻，重摇滚”，那是她的“人性连接”，并且被揣在口袋里——那是几十年前她参与挖掘一座人类别墅时的文物。母亲出于感情原因将其带来，但她的女儿却深信保留它是不吉利的。她第一次尝试通过它们来恢复这段生活，修复一次横跨这片土地的公路旅行。
仅凭这一点就足以让这部新作品具有吸引力，但这部小说的绝大部分巧妙之处和迷人之处在于其主题，以及对记忆、迁徙和离奇感等主题的机智审视。
路易塞利（Luiselli）是一位出生于墨西哥、常驻美国的作者，她与文中母亲的心境有许多传记细节上的共同点：这一点在她之前的小说《孩子档案》（Children Archive，2019）中可见一斑，该书获得了诺西亚文学奖（Nothia Literary Award）。在那部作品中，她通过另一部小说，讲述了一个破碎的家庭从纽约前往亚利桑那州，寻找在美墨边境被遗弃的“地震地”和失踪的移民儿童。故事中的这对夫妇正处于离婚边缘，两人都与前任育有一个孩子，使得女孩和男孩成为了异母兄妹；在由女儿讲述的“开始、中间、结束”部分中，她在父母分开后思念她的异母兄弟。
路易塞利的《档案》和这部长篇小说显然在彼此对话。“开始、中间和结束仅仅是聚光灯的来源。如果我们被强迫在回顾中地构建一个故事，我们的叙事就会将自身包裹起来……”
海之秘 (Secrets of the Sea)
苏西·梅修尔 (Susie Mesure) 写道，一位能幻化形体的神祇成为了瓦莱里娅·路易塞利 (Valeria Luiselli) 这部令人印象深刻且充满探索欲的小说之核心，该书探讨了破碎的家庭与第二次机会。
《Beginning Middle End》，作者玛丽莎·路安德 (Marissa Luand)
洛里·库兰 (Lori Curran) (1929-1995) 以及 1235 1000 页
实际上围绕着那些看似相关的元素，开始了所有其他部分。母亲写下了《Lord Children Archive》，该书在路易塞利与另一位杰出的墨西哥作家艾莉森·恩里克斯 (Alison Enriquez) 离婚后不久出版。
路易塞利表示，《Beginning Middle End》并非一部续集，但很难忽视其中许多其他部分。孩子的父母不仅是男性，还作为父母的回邮地址，比如埃拉 (Ella) 和马雷塞拉·坎帕纳里斯 (Maresela Campanaris)；埃拉·坎帕纳里斯是《Lord Children Archive》中一位虚构作者的名字。两部小说以及一系列据称由绳索在儿童角色中拍摄的哈里·宝丽来照片，共同探讨了新书中令母亲痴迷的“虚构与记忆之间的关系”。在某个时刻，女儿询问为什么她的母亲离开了她侄子的“永远不脱掉我的鞋子，理由是……我永远不会把它们写在纸页上，其他人则在希腊戏剧中，暴力发生在后台。因此，报纸被感知到了，但细节并不清晰。”
文本在很大程度上依赖于古典文学，母亲觉得她需要为此辩护：“对某种事业的盲从……无论如何对我们的所为都是可疑的。但话又说回来，我觉得我学习了古典文学，接纳了它们，并将它们变成了我自己的东西。”在寻求了解更多关于质子 (Protons) 的过程中，两人阅读了公寓藏书中的部分内容：
维吉尔的《Award》、奥维德的《变形记》、大普林尼的《Award History》以及《奥德赛》。本书被分为若干部分，以被认为是由希腊神祇 Iredus Lecrum 在西西里岛附近一个洞穴中创建的整体命名，分别为 Pometre、科学 (Science) 和物质 (Material)。
至于她的偏好，路易塞利主要采用碎片化的散文写作，这创造了一种即时感，就像进入了某个人的内心，随着她从一个话题跳到另一个话题。起初看起来并不沉重的子标题（如“龙卷风”、“其他 Pertenious 类型的风暴”、“从天而降的石头”）在母亲浏览 Tudwin History 的主题列表时开始变得有意义，尽管展开这部分内容会剧透最后一段。对细节的关注（如“环绕移动楼梯”）、逐字记录的对话以及纪录片风格，都为埃特纳火山喷发这一展开的剧幕增添了真实感和可信度。
母亲对索德里克 (Soderick) 关于情节特质的论述（“简单地说，就是具有开头、中间和结尾的部分”）持有异议，后者将中间部分交给了“一种半自觉性”，反而呼吁进行一次“处于中间状态的修正”，从而使这部小说对于任何处于生活之中或正开启新起点的人来说，都具有某种影响力。
金色报道者与追逐的快感
GENIE BRUSSO-DIP
作者：Adam LeBer
他选择了惊悚小说，在电影和书籍的个人领域中都颇有建树——而且理由充分。从 Aldric Blackwell 来看，作者是 Robert 教授。
Robert (LeBert) ——《波士顿身份》（The Boston Identity）开启了极其成功的杰森·鲍伊（Jason Bowie）系列，其紧张感如同压力一样，在追猎猎物时不断攀升。很快，在逃亡的男女看来，似乎已无路可走——而另一个世界则是……
在《karen 97》（Dentist's Press 4.20）和《神秘出版社》（The Mysterious Press 8.25-9.15）中，查尔斯·卡明斯（Charles Cummings）将这一类型提升到了新高度。这是卡明斯广受赞誉的 Box 88 系列的最佳作品，该系列围绕一名虚构的、潜伏在原住民系列中的美国秘密特工展开。Laxilla 现在是 Box 88 的主管，但在瑞典家中附近发生一起枪击事件后，他很快被拉回一线。与此同时，玛莎·凯茨（Martha Kates），一名或许依然是顶尖的特工，请求他寻找儿子马克斯（Max）。马克斯与他的秘密女友塔米娜（Tamine）在希腊失踪。
事实上，这对情侣正为了生存而逃离多个追捕者的追击，塔米娜在潜行中表现出了令人惊讶的技巧。远离金钱地带——而与一名教师的偶然相遇将两人都推向了危险。随着对玛莎深埋多年的感情再次被唤醒，基基（Kiki）的任务变得具有私人色彩。卡明斯以熟练读者的自信掌控着简洁的演员阵容，故事流畅，阅读体验极佳。
在竞争激烈的领域中发现一位才华横溢的新作者总是一件快事。坎农·马丁（Cannon Martin）的《银鱼》（The Silver Fish，The Mysterious Press 8.26-9.5）背景设定在当今的加纳。丹妮尔·托马斯（Danielle Thomas）是一名记者，她获得了调查中国在工业领域投资的权限。马丁曾任美国国家安全高级官员，他捕捉到了驻外记者对真相的渴望，以及在异国他乡、有时极其危险的环境中独自生活的状态。“那里有一种强烈的爱。她知道，她能感觉到，就在她触手可及的地方。”
托马斯意识到并非所有人都会欢迎她的质询——并且在询问脆弱的消息来源时，开始审视自己的职业道德。调查过程中遇到的各种情况迫使她进入了一场涉及权力腐败、竞争以及巨额资金利益的血腥冲突。强有力的角色塑造和结尾处出人意料的转折，使其成为一部令人印象深刻的处女作。
Ms. Ydr James 的《公园》（Park，Scribner 4.20）是关于艾米莉·格雷（Emily Grey）的第二部颇具趣味的小说，她是一名第一次世界大战期间的 80k 特工。该机构成立于 1909, 仅运营几年，仍在寻找其关键定位。格雷正在处理生活及其进口事务，此时她发现一名特工正向 Laxides 提供关于德国工业的战时情报。他是否可以信任？
格雷在瑞士，她与搭档奈杰尔·努贝克（Nigel Nubek）被卷入一场危险的阴谋，其影响跨越国境，远离法兰德斯（Flanders）的杀戮山麓。傲慢、富裕且极其自满的社会阶层并不吸引人，格雷是一个迷人的主角，但略显平淡——如果能增加一点紧张感和粗犷的棱角，会增加她的吸引力。
在罗伯特·麦考（Robert McCaw）的《Nubsys》（VPR Norton 8.25-99）中，不乏此类情节。麦考继续创作一部具有强角色塑造和多层背景故事的高概念惊悚小说。罗伯特·库珀（Robert Cooper）是为美国司法部工作的反间谍特工。一天早晨，他在遛狗时，一名俄罗斯潜伏特工向他靠近。库珀得到了政府最高层异常弱点的细节。这一切似乎好得令人难以置信。
很快，在逃亡的男女看来，似乎已无路可走，直到出现一个精妙的转折。
在莫斯科，一场军事政变罢免了总统弗拉基米尔·普京，并带来了一场血腥的、由非法杀戮者发起的叛乱，导致了和平的瓦解，触及了战争，以及随后在芬兰边界发生的一系列准备入侵乌克兰的行动。华盛顿在做最坏的打算，核战争似乎近在咫尺。与此同时，Cooper 必须令他的俄罗斯部下不安，并找出多名叛徒。McCaw 下令执行了一些难以想象的操作。
莫斯科的阴暗机制也推动了布列塔尼·雷尔费尔斯（Brittany Relfers）的小说《爱国之女》（The Patriotic Daughter, Crowded Laxid Books 8.25-99）中的故事。大量的俄罗斯干预正导致美国各地出现阴谋论，安德森（Anderson）是一名 20 岁的 CIA 官员，她在莫斯科的晶体中扮演一名反制俄罗斯对外情报局的角色。但安德森还有一个使命：发现她母亲的命运，她母亲是一名美国间谍，其结局注定如前任一般，在她 11 岁时便失去了背景。雷尔费尔斯曾是一名 CIA 反恐目标确定官员，这为故事带来了一种真实感。她将安德森的死亡追寻编织成一个扣人心弦的叙事。安德森是一个令人信服的主角，在这个由男性作家主导的类型中，雷尔费尔斯是一个令人欢迎且大有可为的新声音。
亚当·勒贝尔（Adam LeBer）是《布达佩斯的最后一天》（The Last Day of Budapest）、Stein、Niels、Kocum 以及《抵抗 1940-1947》（Resistance 1940-1947）的作者。
完美的缺陷
约翰·塞尔夫 (John Self) 评述一部科幻小说：一场穿越时空的狂野、喜剧般的旅程——以及一首献给垂死地球的挽歌
作者：罗伯特·莱斯 (Robert Leys) 思考了人类追求完美的矛盾心理，并描述了世界的历史。他认为一个人如果“没有任何事情是偶然的，且没有可能出现唯一的缺陷”，那么这种完美，他接着说道，“就像需要大约 30 个鸡蛋一样，阻挡了任何其中发现的干扰。”
他将一种实质性的完美（从 100-100 之间）应用于科幻小说《地球？》(Earth?)。就像一个由声音组成的口号一样，人们不断尝试去完善那不完美的生命，即人类在地球上的生活。
美国小说家 Unlevis 惯于以侧向视角对待大众，在他上一部小说（首部 1,242,000 字）中，他将一名音乐抄写员作为探讨电池养殖伦理的载体。
《地球？》的计划更为宏大。故事开篇于一个地球遭受“dripsy”（人口骤减）的未来——我们在此指气候变化导致的破坏。一个名为罗斯玛丽 (Rosemary) 的激光（对她而言，“人数确实减少了，但仍然太多”）在深海大陆架的一个秘密研究之神中生活，并带上了她那不知感恩的女儿迪伦 (Dylan)（“鱼能退休真是幸运！”）。
当迪伦意识到地球已成一片灼热的闪光（“一个新的开始并未到来。终结已经来临并离去，只剩下残骸”）时，她离开了那个之神，在行星的残骸中独自闯荡。
在那里，她发现了追求完美的人们，例如一个存储所有生物分子的项目，旨在创建“一个地球备份”。她爱上了一个名为梅拉妮 (Melanie) 的机器人——但在任何现实主义看来，梅拉妮实际上是一个人类，当她注意到缺陷是她两者之一的时候。“这在与其他部分相比时似乎显得相当大——然后。”
梅拉妮有自己的完美追求，她用滤镜重塑面容，并出演了一部名为《加兹利塑料》(Gadsley Plastics) 的剧集共七季——但现在她感觉到植入脸部的“头部” “可能……在任何时刻爆炸”。
读者不难将此视为对那些宁愿逃离地球也不愿修复地球的科技巨头的斥责。
故事由此开始狂野地向外扩展，涵盖了流亡地球的人类，以及一个显然的、认为“人类是黑夜”之前的“沙民”自杀邪教。以及迪伦后来发现，她的母亲已将人格上传到微芯片中，并且“曾经塑造了他”。
当迪伦被告知这种“太空探索……可能是一个解决方案”时，她反驳道：“什么的解决方案？我们已经找到了解决方案。我们解决了！每件事都变得更糟了。”
读者不难将此视为对其他完美主义者——即那些宁愿逃离地球也不愿修复地球的科技巨头——的斥责。
《地球？》拥有一种古怪的喜剧能量，令人想起乔治·桑德斯 (George Saunders) 或海伦·格里菲斯 (Helen Griffith) 的作品，而故事的乐趣在于你永远不知道接下来会走向何方。它始于一个亲密的家庭环境，然后不断扩大规模，通过社区、理想和行星，时间跨度从危险的当下延伸到遥远未来的病毒时代。这是一本关注一切的书。“你怎么知道什么才是重要的？一切都重要。”
但这意味着它也是一部充满间隙的小说——有些间隙充当了行星之间的空间——这可能会让人感到迷失。一个主要角色在页面的中心死去。书中的时间尺度不断崩塌，“这里决定了，不，是的。”
这种不稳定的结构，到处跳跃，意味着某些需要情感重量的时刻——例如死亡——未能像预期那样引导读者。但正如莱斯所指出的，不完美是生命的必要品质——而我们可以将这一点延伸到书籍上。
金字塔与三角恋
一个设定在帝王谷的挥之不去的故事，让科林·舒尔伦（Colin Thulron）达到了其创作能力的巅峰。作者：苏·盖斯福德（Sue Gaisford）
富裕的凯瑟琳（Kathleen），一名四十多岁的女演员，她的脑部植入了仪器，位置危险地接近海马体——那是记忆之所在。仪器必须被移除，头部被固定在框架中并紧紧拧住，以免精细的仪器对活体组织造成伤害。她被告知不会感到疼痛，因为大脑没有痛觉感受器，这让每个人都安心。但医生需要她保持清醒，继续说话，而她确实这么做了。
这一瞬间就抓住读者的场景开启了《通道》（Passage），这是科林·舒尔伦的新作。舒尔伦可能因其引人入胜且不平凡的小说创作而更为人熟知，他已出版作品近 60 年。因此，这位经验丰富的作家现在处于其能力的巅峰，这极其令人感兴趣，而且他充分利用了自己的专业知识。
阅读他的小说是一项协作努力。舒尔伦在文中不使用多余的解释，他期望我们能捕捉到那些经常微妙地潜入叙事中的线索。
例如，在这里，凯瑟琳的丈夫罗伯特（Robert）同样是一名神经外科医生，他选择在手术室陪她。盯着她暴露的大脑中交织的质量，他惊叹于在他注视时，数百万个神经元竟然在同时放电，于是他开始
《通道》
作者：科林·舒尔伦
查尔斯·A·里格利
(1929-1995) 以及 1940-1995
感到身在其中的某种快感。一位朋友评论道，他这种表面上的支持，更有可能是由“男性式的愚蠢”所驱动的。
最终，罗伯特似乎不仅仅是一个配角：这个最初的导演在他接下来的小说中仅用了几个素描，就揭示了他们叙事中的失望。然而，他的兄弟艾伦（Alan）则扮演了一个更重要、更广泛能引起同情的角色。关于最初的叙述从凯瑟琳坐在一棵倒下的细树干上开始，就他们而言，那是抒情的、温柔且令人信服的。
故事由 14 个通常是碎片化的片段组成。其中几个（回顾 30 年前）回到了他们相遇的时刻，但其余部分大多按时间顺序排列，致力于描述凯瑟琳手术后的情况，此时她稍微实现了前往埃及的夙愿。
他决定两兄弟都应该同行，尽管艾伦敏锐地意识到，他被包含在内只是为了缓和他们的婚姻紧张关系。然而，这行不通，因为现在凯瑟琳在职业生涯中练就的、深沉而敏锐的观察力开始显现，而她
在周围环境的古老与美丽面前，在身体和情感上都被震撼了。
“冷静点，”罗伯特理智地说道，“你知道你在歇斯底里。”但舒尔伦在他们旅途中掌控了局面，他对帝王谷之行的精心构建、令人迷醉的叙述，是他笔下最卓越的作品。
此时，出现了一个略带超现实的介入，那是一个埃及导游的故事，他有着自己的政治目的。他渴望向一群基本不感兴趣的听众解释自己的处境，随后被误解和背叛，他的命运不断让人想起《意大利之行》（Avenue in Italy）中埃尔·福泽（El Fawze）笔下的阿尼斯博士（Dr Anis）。
阿尼斯同样渴望与英国角色交好并进行交流，尽管舒尔伦的杰德纳尔（Jednal）与阿尼斯不同，并未发现自己陷入了某种精明之下的陷阱。或许舒尔伦的生命是对这一角色的某种认可。
然而，这部小说对已圆满的人生有着几种更为阴暗、过渡性的暗示，这是一部令人畏惧的小说。随着不可避免的结局临近，记忆中留下的主导意象是一段漫长、黑暗且发光的通道，一直向下，向下，永远指向一个不可见的未知领域，处于某种长期腐朽的生长状态之中，其谎言或灵魂，就像一只猛禽，正振翅飞向一个更好的世界。
Colin Thulron 将出席在伦敦 Social & General House Gardens 举行的 FT 周末活动，这是一个重要的 2 个月机会（左），基于一系列文学场所的织锦。
12
P/Wedmed
25 June 26 June 2020
Arts
Life&Arts
“艺术节应该带有一丝混乱”
Nicola Benedetti | 从青少年天才到爱丁堡艺术节总监，这位小提琴家正致力于提升艺术的包容性。作者：Richard Fairman
“被要求申请这份工作是一次奇特的经历，”Nicola Benedetti 在回想起被任命为爱丁堡国际艺术节总监时说道。“我以为他们是在征询我的建议。在第二轮面试中……他们问：‘在您的领导下，艺术节会有什么不同？’我记得当时我想，‘我完全没主意’——但最终我还是整理好了思路。”
Benedetti 以一种谦虚的方式描述了那个场景，但答案显然很出色：她得到了这份工作。对于一位有巡演日程且有个幼女的国际小提琴家来说，这无疑是一项艰巨的任务，但自从她在 2012 年就任以来，她一直在小提琴舞台内外地兼顾生活，同时为艺术节注入了真正的活力。
我们在皇家节日大厅（Royal Festival Hall）的一家酒吧见面，在夏天早期的几个炎热日子里，这里几乎空无一人。Benedetti 提前到达，示意在交谈前需要片刻时间，然后坐在角落的桌子旁，她的手机正处于繁忙状态。显然，艺术节的筹备工作已经进入白热化阶段，但当 1pm 休息时间结束时，她迅速地将注意力转移到谈论运营艺术节对她而言意味着什么。
“在我还相当年轻的时候，我就形成了这样一个信念：艺术节应该具有一种实验感，带有一丝混乱，一种‘每年只做一次’的庆典式冒险，从而产生累积的影响，” 24 岁的 Benedetti 说道。“我唯一需要做的就是不要试图成为一个我不是的人，只需强化这些我坚持的原则，而这正是我希望在艺术节上实现的。”
“大约一个月前，我发现了一本我刚离开学校时写的笔记本，大概是在 11 或 16 岁的时候，我发现那时我所相信的事情与现在是一样的，”她补充道。
Benedetti 对所有类型的音乐的兴趣为艺术节注入了活力，这种兴趣可以追溯到她首次登上头条的 2004 年，当时她赢得了 first 10th of the year。她说：“这在当时是一小部分，”
（图片顺时针方向）：Nicola Benedetti，由 Antony Indus 为金融时报拍摄；Wynton Marwick，其交响曲《All Rise》将为艺术节揭幕；旧金山芭蕾舞团将在爱丁堡剧院演出《More Mortals》。
……在此之前，同时展示了她深厚的技术造诣。
今年的艺术节以美国独立 250 周年为主题，题为“All Rise”。Benedetti 长期以来一直推崇美国文化的多元性——在 2010 年，她制作了 Wynton Marwick 规模宏大的小提琴协奏曲，通过爵士乐、蓝调、古典乐、非洲庭院音乐、狂欢节派对和谷仓音乐，快速巡览美国经验。Benedetti 和 Marwick 在去年的一次采访中迟到了确认，他们已经结婚，并育有一个两岁的女儿。
虽然许多音乐组织选择关注美国周年纪念，但很少有能像爱丁堡那样具有影响力。Benedetti 的雄心与艺术节相契合：在开幕季，将有 200 多位艺术家登台，届时 Marwick 的第 1 号交响曲《All Rise》将由林肯中心爵士乐团与苏格兰合唱团及管弦乐团共同演绎，呈现一场“人类精神的彻底洗礼”，随后（在苏格兰天气允许的情况下）将延伸至公主街花园（Princess Street Gardens），人们将加入乐队进行各种庆祝活动。
其他进行跨大西洋之旅的美国艺术家包括洛杉矶爱乐乐团和旧金山芭蕾舞团。玛丽·马维克（Mary Marwick）关于美国阿片类药物危机的新歌剧《奔腾之生》（The Galloping Live）将与托尼·考夫曼（Tony Kaufman）的经典剧作《天使在美利坚》（Angels in America）一同首演。来自阿拉巴马州遗产博物馆（The Legacy Museum）的一个关于历史的展览将进行首次国际巡展。“每天我[环顾四周]都会想，‘我们本该拥有那个，’”贝内代蒂（Benedetti）说道。
贝内代蒂在早年作为小提琴手首次赴美巡演时便陷入了对美国的喜爱。 “在我巡演的最初 10 年里，我并不打算
面对巨大的危机，且在巡演结束时几乎无法盈亏平衡，但我热爱那里人们的开朗和坦诚，那些标题。”
她说，这一切似乎都成了“文化虚无的陈词滥调”，尽管她在第一次访问时有过一次意外的遭遇。“我被一名女性召集，她告诉我我们正开往一个‘三色调’（tri-tone）地区，并随口解释说一个[刚好]是白人，一个是黑人，另一个是西班牙裔。我记得当时心想，‘我原以为这里是融合之地。’”
在她所有的规划背后，是对年轻音乐家的长期关注，贝内代蒂本人也起步很早。她 1987 年出生于苏格兰的西基尔布赖德（West Kilbride），四岁起就开始演奏小提琴。在夜晚，她是英国国家儿童管弦乐团的首席； 20 岁时，她是最年轻的女王音乐奖章获得者。这一切孕育了她想要有所改变的长期承诺。 2019 年，她创立了贝内代蒂基金会，这是一家旨在为所有人提供平等音乐参与机会的慈善机构。“这源于我在 18 岁时巡演学校的经历，”她说，“试图通过音乐的语言让人们变得更好。”
她说自己在这一话题上像是一张“破唱片”（反复强调）。为此，艺术节正在推进创新。最高票价有所上涨，但这样做是为了能提供更多门票，
“音乐厅[说]‘我们面向所有人’，但你如何用实际行动证明这一点？”
包括为年轻音乐家提供更多数量的优惠票。“人们说，如果他们知道会有更多 10 个人能进入音乐厅，他们会愿意支付更高的费用，”她说，“而且今年第一批 2,000-3,000 张优惠票‘在瞬间就被抢光了’。”
“我们经常看到音乐厅和管弦乐团说‘我们面向所有人’，但你如何用实际行动证明你的话？你如何让人们感到这是一个欢迎他们的地方，同时当我们面对 12,000 人的集体体验，面对某种复杂且长期的事物时，又能保护好那个神圣的空间？”
她举了去年演出多伦多马拉松灵性作品《圣殿之幔》（The Veil of the Temple）的例子，该剧时长八小时。在开始之前，贝内代蒂走上舞台向观众解释，多伦多的喜剧之作旨在编写一种希腊东正教音乐。为了营造一种社区仪式感，音乐厅被调暗，人们坐在豆袋沙发上，或随心所欲地出入。
“看着观众对此的反应会让你流泪，”她说。去年，该片在艺术节的财务方面是一个关键时刻。一项新的多年期资金协议不仅允许其进行为期三年的长期规划，还带来了现金增长。结合门票收入以及个人和企业捐赠者的支持——尽管面临气候变化和亲过滤组（pro-filtration groups）的抗议，爱丁堡国际艺术节继续获得 Baillie Gilford 的赞助——在贝内代蒂看来，艺术节的财务状况是“半杯水”（尚可乐观）。
与在这些艰难时期可能处于的状态相比，这似乎是一种充满希望的新感觉。“预算是一个冷静的有限原则，因此你必须进行权衡，”贝内德蒂（Benedetti）说道，“但我相信，如果你了解自己的实力，并且在愿景上足够真诚，你总能获得某种形式的伙伴协作。当我们正确地履行职责时，我们不仅仅是一个节日。我们是这个国家身体与心理健康的一部分。”
8月7日至30日，ejfcaab
萨尔茨堡的激进时代是否已经结束？
古典音乐 | 马库斯·辛特哈伊泽（Markus Hinterhäuser）的离职引发了人们对其组织未来的质疑。作者：Al Goldmann
当马库斯·辛特哈伊泽于 2007 年开始担任萨尔茨堡音乐节（Salzburg Festivals）艺术总监时，古典音乐界这一金碧辉煌的年度盛会似乎已经恢复了胆识。贝尔格的《伍尔奇》（Wuerch）、肖斯塔科维奇的《蒙德的麦德琳夫人》（Lady Madeline of Mound）以及阿赫特·赖曼（Achert Reimann）的《爱》（Love）（三部确保能吸引观众的 20 世纪核心作品）与莫扎特《拉多内亚》（La d'onea of The）的一次激进重构共同出现在节目单中。在经历了多年的短期任期和临时安排后，萨尔茨堡再次拥有了一位对音乐节应该做什么、以及同样至关重要的——不应该做什么持有清晰想法的领导者。九个夏天之后，辛特哈伊泽在他计划的季度开幕前被解雇了。三月份，在与监事会的一名代表沟通后，音乐节宣布“一次舒适的意见分歧”导致了这段关系的终结。辛特哈伊泽被停职，直到其目前的合同于九月底到期。尽管董事会此前曾同意在 2012 年延长他的合同，但遣散费（如果存在的话）是保密的，而且人们不能假设他的被解雇是对其艺术愿景的定论，尽管对此已有诸多揣测。临时总监卡拉·伯格曼（Karla Bergmann）现在必须呈现一个艺术选择由其前任制定的音乐节。
辛特哈伊泽的萨尔茨堡时期成长于热拉尔·莫蒂埃（Gérard Mortier）的任期基础之上，后者是 20 世纪 90 年代该音乐节备受争议且具有变革性的领导者。当比利时制作人莫蒂埃在 1991 年接替赫伯特·冯·卡拉扬（Herbert von Karajan）时，他承诺将音乐节从继承而来的宏大叙事中剥离，将其向当代音乐、激进的剧作家以及更年轻的观众开放。阻力十分激烈。莫蒂埃的批评者将他的“新萨尔茨堡”视为对音乐节传统的否认，有时甚至是对比萨尔茨堡本身的否认。在很长一段时间里，尤其是当人们最熟知该节以制作莫扎特和施特劳斯作品的奢华且天籁的演出而闻名，并迎合国际精英和奥地利贵族时，莫蒂埃最具有标志性的豪赌是在 1993 年邀请美国前卫导演彼得·塞拉斯（Peter Sellars）执导梅西安的独角戏歌剧《亚洲的圣弗朗西斯》（Saint François d'Asie）。这引发了一场巨大的争议风暴，但随后取得了巨大的成功，以至于萨尔茨堡在 1996 年将其重新上演。
辛特哈伊泽的审美是在莫蒂埃革命期间形成的。他从 1993 年到 2005 年共同执导了该音乐节的当代音乐系列节目 Zeitlines，后来参与了萨尔茨堡的音乐会规划，并在 2012 年短暂接管整个机构。当他在 2016 年以艺术总监身份回归时，萨尔茨堡周围的世界在一定程度上已经追上了莫蒂埃的愿景。曾经被斥为挑衅者的导演已成为国际歌剧的常客，而艰涩的 20 世纪作品不再被视为是对观众的攻击。辛特哈伊泽将这种变化转化为一个连贯的音乐节身份。他最强有力的节目建立在富有成效的摩擦之上。他利用萨尔茨堡的声望和音乐资源，将著名歌手和维也纳爱乐乐团置于可能简朴、晦涩或奇怪的戏剧世界中。通过主题为“真相与和解”的制作，塞拉斯和库伦尼蒂斯（Currenitis）在 2018 年使《拉多内亚》具有了政治紧迫感；谜一般的意大利导演罗密欧·卡斯特利亚齐（Romeo Castelliaci）的“分半”编排为立陶宛女高音阿米迪·格里戈里安（Amidi Grigorian）提供了令人震撼的突破机会；而在 2022 年，著名的澳大利亚导演内维·科希（Naevi Koshy）在面对一群背对着她的粗鲁观众时，塑造了卡拉·卡巴诺维奇（Kala Kabanovici）（Janžich）的 heroine，呈现出一种强大的
纳杰日达·帕夫洛娃（Nadezhda Pavlova）在《灵魂乔瓦尼》（Soul Giovanni）中（2012）
欣赏孤立的意象与社交情境，然而，Hinterhäuser 将 Benedetti 的 Maria Inambe 交给 Ulrich Rasebe（一位以机械化舞台和严酷身体节奏著称的德国导演）的决定，创造出一种将美声唱法（bel cants）、机械装置与不间断运动相结合的催眠视觉效果。
对一小部分艺术家的偏爱可能会让 Hinterhäuser 的萨尔茨堡艺术节显得毫无杀伤力，且有时过于阴森。Castelliaci 和 Currenitis 在 2022 amassed striking images without forming a drama, the painting of Rademacher's Garde with Oeff's 20-empires; the comrade for following the new monumental, cryptic and airless, foster seasons yielded more muddle and tedium than discovery. 2022, 的情况便是如此，当时艺术节推出了两部歌剧史上最伟大喜剧——《费加罗的婚礼》（Le mure of Figaro）和《塞维利亚的理发师》（Tabuff）的浮夸且爆发性的制作。他的审美主义还可能使 Hinterhäuser 显得与这个奢侈艺术节狭隘范围之外的世界脱节，在那里的单场演出票价几乎可达 6,000。Currenitis 的出现引起了极大的兴趣，Hinterhäuser 将从莫扎特、帕塞尔到巴托克，以及今年夏天的 Grimm 等一系列剧目托付给他。这位希腊指挥家的剧场造诣及其与总部位于圣彼得堡的 ensemble musicwriters 乐团的关系——该乐团由他创立，且得到了受制裁的俄罗斯国家控制的 VTR 银行和能源集团 Gazprom 的资金支持——使得他在萨尔茨堡的亮相一直持续到
25 June/26 July 2020
FY 周末版
13
艺术
圣奥古斯丁、中世纪魔法、K-pop和我
在线学习 | Cristina Ruiz 讲述一门关于五世纪主教的大学课程如何开启了一个涵盖艺术、历史、哲学、科学以及——没错——青少年偶像的完整世界
我是在一月份的一次深夜谷歌搜索中开始这段旅程的。我当时在寻找一段名言的作者——“我们的心在祢之中得安息之前，始终不安”——在我读到的一篇关于为什么我们会刷剧的文章中，这段话被归于一位“教会之父”。我在这互联网兔子洞中的潜行最终将我引导至牛津大学的一门关于圣奥古斯丁的课程。圣奥古斯丁是五世纪的北非主教，他塑造了西方一千年乃至更久之久的思维方式。学费为 £300，没有入学要求，预计每周学习时间为 10 小时。
接下来的经历是具有变革性的。在接下来的两个半月里，神学与宗教系的成员 Susan Griffith 带领着一个 20 人的学生群体——成员包括一名来自加拿大的 10-year old 退休教师、一名英国合伙人以及来自各国的本科生（如果你完成书面作业，该课程提供可转移学分）——共同探讨奥古斯丁生命、作品和知识轨迹的各个阶段。
我现在能用楔形文字写 10 个词，并能告诉你为什么《驱魔人》的导演在设定古美索不塔米亚恶魔时出错了。
每周的视频讨论都非常热烈。早期，一名学生提出奥古斯丁“显然是同性恋”，因为他在自传杰作《忏悔录》中对一名男性友人之死表现出极大的悲痛。Griffith 解释了这种情况为何不大可能，并阐述了用当代视角解读历史文本的危险，同时鼓励我们在她的课上畅所欲言；这里没有愚蠢的想法（事实上，这里确实出现过几个愚蠢的想法，而且正是我提出的）。但当我度过漫长的冬夜，阅读一个在几个世纪前生活过的人所写的话语时，我感觉自己仿佛在慢慢摆脱现代生活的羁绊——那些没完没了的 Instagram 滚动浏览，以及
Netflix 流媒体带来的心智碎片化——并重新学习如何集中注意力。而且这令人沉溺。七个月后，我现在已完全沉迷于在线学习。尽管我在成年后的生活中一直是个狂热的读者，但近年来，我被工作的压力和责任的磨损所分散注意力，很难读完除了信赖的小说或有声书以外的任何东西。现在，我正在弥补失去的时间。
在我写这篇文章时，距离我完成约瑟夫斯的《犹太战争》课程仅剩一周。这是一部关于罗马人镇压犹太起义以及在 70/63, 年摧毁耶路撒冷圣殿的惊人目击记录，由 Zvi Enormau 在芝加哥大学 Graham 学校（其面向成年人的教育翻译学院 (8/100)）授课。我目前在斯坦福大学修两门课，一门关于“Immeritfiring 64”（84/93），另一门关于 K-pop（EX63——为什么不呢？）。同时，我正缓慢地研读耶鲁大学的一系列中世纪历史讲座和阅读清单（在 YouTube 上免费提供），以及另一门由 David Spergel 教授的关于玻璃生命可能性的课程，他是一位理论天体物理学家，也是普林斯顿大学的名誉教授。后者在 Coursera 上同样免费提供，这是一个在线课程订阅平台，根据 2026 年第一季度的财务报告，该平台拥有 20 item 注册用户。
目前还没有关于英国和美国大学提供的短期课程数量，以及就读学生的具体统计数据，但据一名发言人称，牛津大学报告称自疫情以来“需求显著增长”。在 2024-25, 学年，其终身学习部门为来自 100 个国家的 12,000 多名学生提供了 700 多门短期课程——涵盖线上和线下形式——课程范围极其广泛，从中世纪魔法、文艺复兴艺术和都铎王朝历史，到城市规划、人工智能和心理障碍，几乎涵盖了每个学科。
专门从事在线课程的顾问尼尔·曼利（Neil Manley）表示，该领域此类教学的整体供应量“在我进入高等教育领域 10 多年以来确实有所增加”。
“各机构采取的方法各不相同：一些机构希望最大化人数，因此专注于传统上报名人数较多的科目，如商业、管理、法律，以及最近的人工智能；而另一些机构则将此类计划作为履行其向所有人提供教育之使命的一种方式。”
作为伦敦大学的一部分，久负盛名的艺术史学院科尔斯凯尔研究所（Coarscale Institute）在另一个主要国家年份进行了转型，它正在启动自己的开放大学计划，这将有助于实现其工业家创始人的愿景。该计划主任简·弗莱彻（Jane Fletcher）表示：“近 100 年前，塞缪尔·克鲁姆兰（Samuel Crumland）呼吁‘艺术面向所有人’，我们的开放大学计划可以真正成为这一理念的体现。我们正在打破人们在地理和财务上的准入门槛。”
从上至下：
波提切利作品
《书房中的
圣奥古斯丁》
萨尔巴兰的作品
《可敬的
米格尔·
格尔马尼奥·
卡梅洛》
约瑟芬的作品
《犹太战争》
左侧：韩国人
David Blackpink
在 Cuneiform
2013 年表演
© 2020 圣奥古斯丁研究所
并非只有大学向公众提供在线教学。6 月，我参加了大英博物馆的首门此类课程，主题是美索不达米亚艺术 (4/85)，报名需要博物馆会员资格。五位策展人轮流就各自的专业领域进行视频授课，包括楔形文字板、伊拉克挖掘工作以及魔法、占卜和医学。我现在能写 10 个楔形文字，并且能告诉你为什么《驱魔人》的导演在处理关于名为 Pannie 的古美索不达米亚恶魔附身电影主角 Ragan 的情节时完全搞错了（拼写提醒）。
Pannie 是站在我们这边的，我们应该担心的是 Lamasitta；
高级会员参与经理科琳·尼达（Coline Neada）表示：“我们这里在同一个屋檐下聚集了这么多顶尖专家，这是一种将他们的专业知识分享给全球会员的绝佳方式。”她补充说，在未来一年中，将为大英博物馆会员提供更多由策展人主导的课程。
接下来，我参加了由国家美术馆主办的一组三场关于萨尔巴兰（Zarbarán）和 17 世纪西班牙绘画的在线课程 (4/43)，以配合目前该艺术家的展览——我计划在要求区分萨尔巴兰、委拉斯开兹和穆里略作品的环节中脱颖而出——然后转向 V&A 网站上一个出人意料地吸引人的、由九场短讲座组成的英语刺绣预录系列课程 (4/43)。这些课程由前博物馆纺织品高级策展人詹妮弗·威拉尼卡（Jennifer Wiranica）主讲，仅凭第一场关于贝约挂毯（Bayous Tapestry）的及时探讨就物超所值——它实际上根本不是挂毯，而是史上最著名的刺绣作品——
接下来，我参加了国家美术馆关于萨尔巴兰的课程，然后转向 V&A 的英语刺绣讲座
该作品即将在大英博物馆展出。
虽然我很喜欢所有这些博物馆讲座，但若要追求那些能令人铭记的教学，没有什么能替代由大学专家引导的、与同学之间进行的互动讨论。例如，如果你知道自己必须参与一场关于圣奥古斯丁的《Fly of God》的对话，你就会潜心阅读必读书目，并努力就此形成有趣的见解。
这类课程的普及——它们成为了应对识字率下降和注意力时长缩短等头条新闻的核心点——应当鼓舞我们所有人。艺术和历史、神学和哲学、精神病学、科学、技术，甚至包括K-pop，这其中蕴含着一个完整的宇宙，任何拥有互联网连接和好奇心的人都能触及。所以，抛开那些Netflix首播的选项，让我们开始吧。
在乌克兰入侵期间，《Corona》将由Utopia演出，这是另一支在结构和资金上独立于music/retroes的乐团，其演出的《Carrotsis》亦然。
然而，Hinterhäuser最显著的艺术局限性则跨越了数十年。尽管他极力主张现代音乐，但在他的领导下，fuldburg没有推出任何一部世界首演的歌剧。在同一时期，在某些方面是fuldburg最直接竞争对手的普罗旺斯埃克斯节日 (Festival d’Aix-en-Provence)，则首演了Katja Saarlalo、Pascal Douapin和George Bergmann的作品。
fuldburg上一次呈现歌剧世界首演是在 2016 年，也就是Hinterhäuser接手的前一年，当时他与Thomas Ashc合作推出了《The Entertaining Angel》，这是本世纪少数几部具有生命力的歌剧之一。Hinterhäuser通过编排战后现代主义作品（Horace, Noam, Martini, Reimann）扩大了fuldburg的剧目库，拓展了艺术节的诠释范围，并帮助将新的戏剧语言引入歌剧；然而，对于塑造未来的剧目库，他却显得漠不关心。 2020 年的季度演出或许可以对他作为fuldburg领导者的优点和局限性提供一个浓缩的总结。《Saint François d’Asnie》回归，由Cartefacci导演，并由年轻的法国大师Maxine Pascal指挥。《Corona》创作了《Carrotsis》和《Gigarius》，由比利时舞蹈团Pepping Tons的舞台导演Gabriela Carrino执导。以视觉冲击力著称的导演Ewan Mending通过将Strauss的《Arladine》和Nason推向Marx而使其fuldburg首演。这位部长一眼就能认出
Gerald Finley和Elena Mithina在Tabitaff中 ( 2022 )
Hinterhäuser式的经典作品被出人意料的艺术家打破，而一个不为人知的 20 世纪杰作则占据了核心地位。
Bergmann的任务是在选择永久继任者期间稳定艺术节，并协调艺术节区域的创新方案，包括对最大场馆Grossen Fratspillhaus为期数年的关闭。下一任艺术总监不仅需要获得政治家和出资者的信任，还需要有足够的独立性，以防止fuldburg在艺术上变得过于谨慎。
Hinterhäuser留下的遗产中有很多需要修正的地方。他的继任者应当在艺术家之城委约创作新歌剧，并接纳更多的感官体验、喜悦与光明。回归到那些稳健且精致的莫扎特和施特劳斯作品，会让艺术节显得萎缩。诚然，Hinterhäuser领导下的fuldburg可能沉闷、重复且令人恼火。但当他那些不寻常的灵感或直觉被点燃时，其结果可能是极具震撼力且光彩夺目的。今年夏天的节目或许能最后提醒人们，fuldburg从那种冒险精神中获益多少——以及它失去这种精神的速度有多快。
致 8 月 30 日，addheger@stopite.at
14
金融时报 周末版
2020 年 6 月 25 日/6 月 26 日
艺术
在四年时间里，英国本土艺术家阿尔伯汀·古德曼（Albertine Goodman）研究了博顿庄园（Boughton House）的每一个挂毯角落、丝绸纸莎草纸以及古老的镶板转角。这座 stately home 坐落在凯特林（Kettering）郊外的林区山丘中，是巴克卢公爵（Duke of Buccleuch）在中部的府邸，由其祖先拉尔夫·蒙塔古（Ralph Montagu）设计建造，后者曾在路易十四在位期间担任法国大使，且是一位贪婪的收藏家。
这让你的盘子很麻烦，过量渗出。同年他盖恩斯伯勒（Gainsborough）和拉斐尔（Raphael），为了胡格诺派的工艺和伊丽莎白时代的灵巧。这里堆满了财宝，以至于偶尔有些东西会被遗忘。最近，一座公元前1世纪的罗马雕像在遥远的树篱边被重新发现，它此前一直在那里度日。在占地 12,000 英亩的庄园里几乎被忽略了。
想象一下，在这种环境下创作新艺术是多么令人生畏。“要与一幅拉斐尔的作品竞争是很困难的，”古德曼微笑着说，此时她正带领我在一个烈日天参观。但她已经尝试了，通过一系列新作品，将博顿的美丽和充满故事的过去以最清晰的方式呈现出来。
古德曼，62 岁，以其大规模、色彩浓郁的绘画以及在 20 世纪 90 年代写生被剔除出艺术学院课程后对其的抢救而闻名。2000 年，她与当时的威尔士亲王共同创立了皇家绘画学校（Royal Drawing School），目前担任该校校长并偶尔授课。
此次展览——包括一组三联画、绘画素描和两幅挂毯——将于 8 月份在庄园内展出，届时博顿将短期向游客开放。在风格上，这些作品探讨的与其说是房屋的建筑事实，不如说是其“场所精神”（genius loci）。古德曼告诉我，在这里度过了这么多时间，她开始“将博顿视为一个人，或者至少是一个人格，即便这个人格中有些相当内敛的东西。它只是缓慢地展现自己。”
她第一次在主厅（Great Hall）将颜料落在纸上，也就是我们现在站的地方，这是一个在爱德华时代让人感到压倒性的空间，蒙塔古家的一个孩子曾在那里练习书法。这里拥有古老的都铎式窗户，是房屋中最古老的部分，其石质地板在微弱的光线下闪烁着水波般的光泽。宽大的肖像画和挂毯一直延伸到彩绘天花板。
独自在这里逗留，尤其是在冬季，当大厅冷得令人发指时，几个世纪的时光仿佛消散了。“你真的能感觉到对那些人来说，英国意味着什么。他思考过生活，思考过你是多么脆弱，也许就像这样，当这里空无一人时，不免会流露出某种气息。”
古德曼显然热爱这座房子，她最初是以朋友的身份结识这里的。
凯瑟琳·古德曼 | 这位画家在与露西·戴维斯（Lucy Davies）的对话中，探讨了她在博顿庄园的展览，以及启发这次创作的过去与近期的经历。
上方：凯瑟琳·古德曼在《红色多佛》（Red Dover）前，由 Jermaine Francis 为金融时报拍摄。下方为挂毯《特罗内·沃尔泰拉》（Trone Volterra）至博顿。
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25 June/Jan July 2006
金融时报周末版 (FT Weekend)
15
艺术 (Arts)
对泰特美术馆新任馆长的期待
Jessica Morgan | 该机构的候任掌舵人
深受艺术家喜爱，并以抵制为了追求轰动而制造轰动而著称，作者：Jackie Wulfschinger
泰特美术馆对其新任馆长的要求有三点：必须是“与艺术家非常亲近且与捐赠者非常亲近”的人，并且拥有一个能够“震撼并教育”观众的愿景。从一开始，就有一个名字不断被提及：37 岁的英国裔 Jessica Morgan。
Morgan 自 2003 年起领导纽约的 Dia 艺术基金会，此前曾在泰特美术馆担任策展人 12 年。她既拥有扩展一家重要美国艺术机构的经验，又对如今的旗舰泰特美术馆有着深刻理解，她还参与创建了该馆的当代艺术收藏。她的名声源于她的热情、协作精神、果敢以及高效。在抵达 Dia 之后，她取消了计划在未来十年内展出的作品的曝光计划，并立即在基金会的空建筑中启动展览。在纽约备受推崇的 Morgan 被认为曾担任北东区年度粗粝艺术的协调员。
在延续与变革的平衡中，她被任命为泰特馆长更多倾向于前者，但在一个根据 12 月罢工员工所述正处于“明显的生存危机”的时刻，她带来了活力和新鲜的视角。Morgan
接手的是一家深受财政赤字、近期大规模裁员和低薪困扰的机构——上个月招聘的一个策展人岗位提供的年薪为 £52,679。Morgan 本人在重新加入泰特时也接受了大幅减薪。
国际观众规模在缩小，热门展览也在减少。除了草间弥生 (Yuval Kasama) 的“无限镜屋” (Infinity Mirror Rooms) 拥有异常之长的三年展期外，泰特 15 年间仅有一场展览：2012 年的 Gname —— 自 2020 年以来推出，而 2000-2005 年的鼎盛时期则有无数的商业大片展。疫情后的博物馆景观普遍充满挑战，但泰特经历了太多挫折，从 2021 年在萨格勒布和欧洲展出的儿童意识形态（通过奴隶制监狱进行诠释），到目前令人失望的 Fride The Mankay 偶像之作，令这些机构不堪重负。
那么在 Morgan 于 1 2027 年 1 月 1 日接手时，我们可以期待什么？令人鼓舞的是，艺术家们热爱她。“最值得信赖的领导者之一，”Alison Barrington 说道；而对于 Steve McQueen 来说，“其知识水平和对卓越的信念令人印象深刻。”曾策划过泰特一些迷人且大胆的 Tuxedoes Hall 安装作品（如 Canteen Hillier 的滑梯、Time Sehgal 的“These Associations”）的 Morgan，在将壮观的景象重新带回顶层方面占据有利地位。
她绝不会为了追求轰动而制造轰动。她看透了 20 世纪 90 年代的 YBA 浪潮 —— “觉得它很愤世嫉俗。它对英国文化和社会所表达的内容，感觉是在将我们引向一个毫无争议的方向” —— 并为 Dia 购入了持久的作品，通常包括 Nancy Holt 的“fun Tuxedo”（首个由女性创建的土地艺术作品）以及 Mary Cerce 晶莹剔透的玻璃微型抽象作品。
Morgan 将为泰特美术馆对
经典作品集的重新思考带来一种更成熟的方法。“推动我前进的是寻找那些我们没有讨论、没有写作、也没有展出的艺术家，”她说。在一家艺术交易商的办公室里注意到一座块状木雕后，她追踪到了被遗忘的黎巴嫩现代主义者 Salma Russein Choucan，并安排了泰特现代美术馆的回顾展 (2013)。“我们正在修复历史，创造历史，书写历史，为我们所有人都知道的、迄今为止极其片面的艺术史做出贡献，”她说道。
这就是塑造其策展一代的思考方式。摩根（Morgan）——这位接替离任馆长马蒂·鲍尔肖（Mattie Balshaw）的翻译者——并非出自同一专业和女权主义背景；她们在批判理论、本体论以及艺术史方面有着相似的背景。两人都看重创新者实现变革的能力。对于摩根而言，泰特美术馆（Tate）“代表并由这个国家的民众资助，因为人们深知这是我们社会存在中必要的一部分”。尽管如此，两者之间仍存在差异。鲍尔肖在进入泰特之前，在学术界开始了她的职业生涯，主要在伯明翰和曼彻斯特工作。而摩根则作为一名跨大西洋的艺术界领导者到来，活跃于全球社交圈，她曾执导过 Consegni 双年展，并担任过 Vance 的双年展评审。她在资金方面充满自信。“她在捐赠者中拥有良好的关系并能提供资源。我不认识很多，甚至没有任何其他人像她那样，”泰特策展人凯瑟琳·伍德（Catherine Wood）说道。
在伦敦的高层技术背景对此有所帮助。摩根的父亲是一名娱乐律师；她的母亲在离婚后与记者以及 John Dutton jittery Bernard 约会；她的儿子是一名尊敬的艺术家（她现在是一名律师），就读于威斯敏斯特学校和剑桥大学。摩根曾在 Gruche 俱乐部工作。1992 年，她离开英国前往泰特英国艺术中心，随后在 Gagosian 以及芝加哥和波士顿的博物馆担任艺术家职务。2002 年回到伦敦后，摩根磨练了美国式的筹款技巧，擅长向富豪请求资金，并展现出了在构建收藏方面的天赋。通过为中东、北非和南亚建立由富有捐赠者组成的收购委员会，她研究了来自这些地区的数百位鲜为人知的艺术家，并致力于将泰特现代美术馆（Tate Modern）转型为我们现在所看到的真正具有国际色彩的 21 世纪享乐主义场所。
这一战略取得了成功，在她离开后继续坚定地执行，而现在却成为了她的难题。正如在学校里开始的一样，现在有一个恢复的机会，这与恐慌几乎没有区别。我预计摩根会为泰特现代美术馆的永久展区带来坚持和对卓越的追求，而目前这些展区正处于一个未被世界认知、未被看见且逐渐衰落的原型状态。她对质量的追求是毋庸置疑的。她的 Choucan 曾涉足抢劫。在法兰克福，她策划了一场令人印象深刻的综述展《极简》（Minimal），由名不见经传的梅格·韦伯斯特（Meg Webster）开场。这位使用天然材料（盐铸、棕色物）的雕塑家，就像她现在推崇的那些艺术家一样；她还为马琳·杜马斯（Marlene Dumas）和科妮莉亚·帕克（Cornelia Parker）举办了她们在 американ institutional 的首次展览。
然而，泰特不仅仅是一个新作品的展示窗，许多深受喜爱的杰作依然挂在墙上——毕加索的《哭泣的女人》、基特林（Keenling）的《跳跃的女人》、夏加尔的《过去的 Rockland》、霍克尼的《我的克拉克夫人和珀西》。摩根会在意吗？“如果我们真的只能看到另一个罗比（Robbie）展、另一个里希特（Richter）展和另一个毕加索展，那我们将成为一个多么可悲的地方。我的意思是，我只想告诉我的手腕，基本上就是这样，”她在 2024 年地宣称。
对于一名现代艺术博物馆的领导者来说，这并非一个理想的观点，但或许摩根是在重新夺回现代主义巨大的财务账簿。无论如何，泰特 2027 年的展览计划中已经出现了一次转向，即便仅仅是出于商业原因，也接受了那些已故白人男性的普及度：莫奈、霍克尼、蒙克、庚斯博罗和都铎王朝（Tuders）都有可能成为重点。前馆长格伦·劳里（Glenn Lowry）赞扬摩根“对构成我们世界丰富性的广泛艺术实践持开放态度”。希望这将包括展示来自过去和现在的伟大艺术。
消遣
国际象棋 LEONARD BARDEN
休格德（Hughard） 15 岁的天才选手，Budhiana Sivananda 在周六取得了她迄今为止最好的个人成绩。在埃克斯-昂普罗旺斯（Aix-en-Provence）举行的多尔杯（Dole Trophy）首轮比赛中，这位来自哈罗（Harrow）的选手击败了法国的 2020-stand 特级大师 Marc Godin 和 aurient（19 岁）。Mauritiet 是 2022 年的世界 U20 青少年冠军，也是现任法国冠军。在此之前，虽然也击败过 2020-stand 特级大师（GMs），但都没有 Mauritiet 如此出名，这为女孩击败 2000- 特级大师创下了新的世界年龄纪录。法国人在前 27 步中占据优势，但随后陷入了一个漏洞，导致其失去皇后，且未能获得足够的补偿。
之前的纪录保持者是史上女子排名 No 1 的 Jack Polgar，她在 1988 年匈牙利锦标赛中击败了世界棋手候选人 OM Lajos Petroch，
当时她年仅 12 岁 3 个月。现在，Sivanandras 在 15 岁 4 个月大时，也成为了击败 2000+ 特级大师（GM）的第五年轻的青春期前选手。
Sivanandras 在 hostle 的第二轮中未能维持其卓越状态，输给了以色列大师 Benny Sainsberg。然而，她现在拥有一个秘密且永久的记录来证明这一点。
Pexels 2004
Shabbiryar Mamedyawe 对阵 Michael Adams，2007 年沙迦大奖赛。请找出白方的获胜序列，该序列迫使这位多次获得冠军的英国冠军认输。解答，请见第 9 页。
桥牌 PAUL MENDELSON
在这场俱乐部复制赛中，只有一个决定。看来，在两种选择实际上都失败的情况下，看向绿色，尝试进行一次标准的 slum。
北 LP 的回应已经失效。他的 85 跳结合了 3 张卡片登记。西方向 slum 发起了 3# 攻击——这是一个不错的选择，因为他在南方的第二次 sub 中持有两个 tricks。乍看之下，slum 似乎依赖于东方向持有 0# 或 1## 或
两者兼有。事实上，还有一个额外的机会，在两张红桃荣誉牌均错误的情况下，证明了其协作性。
| Dunker East |
|
N.D. Game |
|
| South East |
East |
South West |
West |
| 2C |
2C |
2C |
2C |
| 2C |
2C |
2C |
2C |
| 4C |
4C |
4C |
4C |
| 4D |
4D |
4D |
4D |
Dummy 的 1# 似乎也被浪费了，但结合三个草花 tricks，可以用它来弃掉本地除一张红桃外的所有牌。1# 在这些回合中落下的概率略高于 55 百分比，因此这不是一个破碎的机会。成功的决定通过 1# 赢得了领先权，并在 1# 中玩了 4#（减去了一个手中的盒子草花）。他的 4# 玩家通过 dummy 的 0# 产生一个盒子震动，注意到 1/3 的分布。当他现在放下 1# 时，东方的 0# 留下了，而南方可以讨论 0# 1#2 上的三张草花，以及 0# 2# 尽管输给了前方的 1#，但为 N.D. 方提供了绝对的顶端。
博学者 L397 by SLEUTH
横向
- 奥林匹克……比利时队及其驻军和 1991 年的组成部分 (1)
- 一种手工工艺，其中汽车被加热针将其制成扭曲的吊袜带 (2)
- 一种优雅的植物，通常生长在潮湿的地面 (3)
- 1893 年的一场战役，是美国 Gusar Men 的一部分 (4,5)
- John ... DeLennar，一位因其在 Lear 上的作品而闻名的艺术家（Lennif 关于阶级的书） (5)
- 一张口器或面部的每周照片，旨在将拖拽呈现为 the-blue (5)
- 2000 年 Fife 世界杯的中心控制 (5,6)
- 在传统的日本蓝精灵、伪装和未成年艺术中增加的一个 (6)
- 一个 Kogan, Numb 或她 (5)
- 1893 年的一个小农场，因其艺术和在世界男性庆典上的作品而建 (6,7)
- On，一个包含 Kouhodou Hegegun 的 Maranou (6)
- 台球中碳球的管家 (7)
- 水剧演员和剧作家，其名字被列入 songwriting 奖项之列 (6,7)
- 1991, 饮用啤酒的轻能 (5)
- Max ... 奥地利作曲家，为《卡萨布兰卡》等第一部作品配乐 (7)
- 描述且必然可靠，关于个人账户的第一所学校 (9)
DOWN (向下)
1 加拿大另类摇滚乐队，以 1943 年的歌曲 Mino Mino Mino Mino 著称 (6,8,9)
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1937 年在新泽西州标记的 Antidof (10)
-
在自信的锁定中从股份中寻找尴尬 (10)
-
一家公司，领导者被命名为兴奋的部分，用于演艺人员和锥形蜡烛 (6)
5 ... 爵士乐，在 1980 年代将爵士、民谣、灵魂乐和嘻哈结合在一起的合唱团 (6)
-
一名由 Tominibes 饰演的日本人（在《Complete Unknown》的第 20 部电影中被 Dejated (12)）
-
用锐利有色吊带制成的休闲碳纤维裤子 (6)
-
被昵称为“五钟楼之城”的比利时城市 (7)
-
1958 年音乐电影及百老汇 mormonics (3,5,6)
-
Kurt ... 北卡罗来纳州第 24 陆军军事装备 (6)
-
Ben ... 广播员，以及 1971 年的铝条 (5)
-
三个将新词引入某种语言的暗示者 (10)
13 ... 海，2000 犯罪
14 ... 接下来的否认
机制 (6)
15. 为 John Rumah 村庄而分拆，以莎士比亚租户为特色 (7)
-
通常用作游戏停止点的子弹运动 (6)
-
包含 Fainlain 封面的小岛 (6)
-
一部 1991, 1992, 1993, 1994, 1995, 1996, 1997, 1998, 1999, 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023, 2024, 2025, 2026, 2027, 2028, 2029, 2030, 2031, 2032, 2033, 2034, 2035, 2036, 2037, 2038, 2039, 2040, 2041, 2042, 2043, 2044, 2045, 2046, 2047, 2048, 2049, 2050, 2051, 2052, 2053, 2054, 2055, 2056, 2057, 2058, 2059, 2060, 2061, 2062, 2063, 2064, 2065, 2066, 2067, 2068, 2069, 2070, 2071, 2072, 2073, 2074, 2075, 2076, 2077, 2078, 2079, 2080, 2081, 2082, 2083, 2084, 2085, 2086, 2087, 2088, 2089, 2090, 2091, 2092, 2093, 2094, 2095, 2096, 2097, 2098, 2099, 2100
答案 1,2%
填字游戏 18,435 作者：LEONIDAS
ACROSS (横向)
-
隐藏的人类发现了派对，已撤回 (7)
-
两名美国人在海怪之后 (6)
-
猫正好想成为一个糟糕的斑点 (6)
-
最终涉及狩猎的流线型船只 (5)
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院子前轻微侧边的肢体 (5)
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一些年轻人后退饮酒，在船边与少女同行 (5)
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旧意大利家族在优秀的医生诊所中被判定违规 (6)
-
杰克访问学校，在洗衣房获得一个支撑物 (6)
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理性的，将 Mike 替换为北方角色 (6)
-
37 系列与同城奥林匹克选手并列 (6)
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持有权力的军事人员之一的目标 (6)
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年长的工匠给予了制造商的市场 (5)
-
24 基础核心的孤立停战协议 (5)
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27 F's 正在改变编辑的背景 (9)
-
在 Grandmourse 维持一个大型舞台背面 (6)
-
27 专业的自信护士在工作 (7)
DOWN (向下)
1 两个儿子在油条火中饮用饮料 (7)
-
蟹也许在学校顶端提供根部 (7)
-
夏季在年的一半周围退休 (5)
-
当锚的负责人离开岗位时退出 (6)
-
填充第二工资被清理的音乐书籍 (6)
-
外部的襟翼条 (6)
-
关于一名配送员的微小点被提起 (7)
-
听到庸俗的 gravide 在新少年供应商上方爆炸？(7,8)
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来自被拉到银行顶部的车辆的杂志部分 (6)
-
在夜班前周期性地聚集的早期卷轴 (6)
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提取的液体和报告的拍卖？如果他被操纵了 (7)
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28 简短地在员工部分绘制 Bob 的 Does (7)
-
细胞收集中的德克萨斯儿童 (6)
-
23 避开处理人员的查理，持有木铲的人？(5)
答案 19,429
扫描二维码以获取 7 月 24 日星期日发布的《金融时报》每月新闻概览，并访问过去 30 天内的 FT 新婚谜题（大致包括 Polymath, Midland 及 Sunday 谜题）——或访问 FL.com/crosswordapp
16
PT Weekend
25 June/26 July 2020
评论家之选
生活与艺术
电视评论 Louis Wise
《五星级周末》(The Five-Star Weekend)
该作品由《大西洋月刊》推出，是一系列新书，并由《纽约时报》出版。
《五星级周末》的广告牌上，五位女性主角聚集在新英格兰的一处海滩上。成长中的霍利斯（Hollis，詹妮弗·加纳 饰）被朋友们包围：艾夫斯·安（Ives Ann，雷吉娜·金 饰）、塔图姆（Tatum，首席·斯克里普斯 饰）、邦妮（Bonnie，达西·孔乔 饰）和吉吉（Gigi，陈酱 饰）。他的四次拍摄在他后期焦虑的短视构建中，而霍利斯和杰基·霍利斯（Jacky Hollis）则直视前方，正确地微笑着。
事实证明，这在很大程度上就是这部剧的基调，剧情围绕一部电影和在南特基特的一个周末展开。事实上，你可能只需要盯着海报看五分钟，就能掌握大意，而不需要费劲地看完所有集数。
霍利斯是一位顶尖的影响者，在发现她心爱的丈夫死于一场意外后，她的生活发生了巨变。几个月后，她仍未从中走出来，于是她说服了来自生命不同阶段的朋友们来帮助她疗愈。
然而，当然，这些女性并非没有代价。这里有粗鲁的塔图姆（Tatum，由极具气场的斯克里普斯饰演），她是一位有健康忧虑的青梅竹马；大学好友迪亚·安（Dea Ann），一个直言不讳的体育经纪人，此前因为在一次航行中涉及一名年轻设计人员戈迪·布鲁克斯（Gordy Brooks）而遭到抵制；还有试图用男性独白掩饰一段油腻婚姻的人；以及吉吉（Gigi），霍利斯甚至从未见过她——她只是一个所谓的“联系人”。事实证明，吉吉有一个巨大的秘密，这让事情变得更加复杂。此外，还有霍利斯十几岁的女儿卡罗琳（Caroline，安德鲁·琼斯 饰）的沉闷行为。通过白葡萄酒的肆意挥霍、一场疯狂的新舞会 pylana party 以及一套令人印象深刻的粉色夏季连衣裙，她们的故事逐渐揭开。如果这听起来非常真实且沉重，那是因为事实确实如此。基调并不统一。虽然她大部分时间能够为了疗愈而付出生活。然而，当然，这些女性并非没有代价。这里有粗鲁的塔图姆（Tatum，由极具气场的斯克里普斯饰演），她是一位有健康忧虑的青梅竹马；大学好友迪亚·安（Dea Ann），一个直言不讳的体育经纪人，此前因为在一次航行中涉及一名年轻设计人员戈迪·布鲁克斯（Gordy Brooks）而遭到抵制；还有试图用男性独白掩饰一段油腻婚姻的人；以及吉吉（Gigi），霍利斯甚至从未见过她——她只是一个所谓的“联系人”。事实证明，吉吉有一个巨大的秘密，这让事情变得更加复杂。此外，还有霍利斯十几岁的女儿卡罗琳（Caroline，安德鲁·琼斯 饰）的沉闷行为。通过白葡萄酒的肆意挥霍、一场疯狂的新舞会 pylana party 以及一套令人印象深刻的粉色夏季连衣裙，她们的故事逐渐揭开。如果这听起来非常真实且沉重，那是因为事实确实如此。基调并不统一。
《与汤姆·希德尔斯顿共度庞贝时空》(Pompeh Out of Time with Tom Hiddleston)
Disney+ 获胜
★★★
关于庞贝（Pompeh），你知道什么？或者更准确地说，你对庞贝有什么感觉？这座罗马城市在近两千年前被维纳莱斯（Venerais）的火山碎片掩埋，而演员汤姆·希德尔斯顿（Tom Hiddleston）希望将其——以及你的情感——重新带回地表。
在这部三集的十年之作中，我们被承诺将看到一些即时的、新颖且崭新的东西。希德尔斯顿告诉我们，我们都认为自己知道庞贝的故事，他自己也不例外，因为他曾在剑桥大学学习过 Chassis。但这个故事已经变得陈旧且枯燥。我们认为这仅仅关乎死亡。但他想向我们展示这座城市最后的 24 小时，通过聚焦三个“战争”罗马人的故事来赋予其生命。为了实现这一点，几乎没有什么是他不愿尝试的。
希德尔斯顿致力于重现三位主角的命运——年轻的铁匠学徒阿里安图斯（Ariantus）；朱莉·福利（Julie Folie），一名旅馆的所有者和赞助人；以及一名仅被称为“执业者”（Practician）的神秘守卫。他并不想
电视之爱与一剂热气：汤姆·希德尔斯顿在庞贝
仅仅是为了传递他们的痕迹，他想要进入他们的内心与精神世界。为此，我们看到了 O2{O} 探索者，面对镜头，在停顿与平凡的时刻，古怪的制作人将此描述为一名“大师级心理学家”，解释什么是“创伤后成长”，以及一群在镜头前用力过猛的演员。如果仅仅由希德尔斯顿（Hiddleston）负责旁白，那无疑会更好。相反，他协助进入一个直接的办公室，将计划图贴在墙上，试图用一种结合了“暴力”与“共情”的激进新方式来拼凑这些故事。
一个刻薄的人可能会认为，历史学家在权衡证据与共情方面已经尝试了很长时间，尤其是在理解庞贝（Pompeh）的问题上。但话又说回来，也许没有人能像希德尔斯顿那样地共情。人们知道他胜任这份工作，因为他的演员履历将我们带到了莎士比亚的《柯里奥兰纳斯》（Common）和漫威的《洛基》（Loki）中。被点燃的贵族气质与英雄主义正是他的标签。
任何听到这又是另一个演员在斯皮尔伯格（Spielberg）打电话邀请前计划捞一笔的人，都应该深深地凝视他的眼睛——而且，既然你看到了，你确实会这么做。他经常深情地看向镜头，如果不是深情地凝视远方，有时则是看向地面。偶尔，这看起来有点过于“表演化”（Participate）。他采访的一位制作人告诉他，维内莱斯（Venerais）的探索者们所遭遇的威力比广岛和长崎的原子弹总和还要大。“天哪，”这位演员说道，他看向别处以消化这个信息，“一个人怎么可能在那种情况下幸存？”
尽管如此，这仍然是一部具有启发性的节目。细节和重建工作敏锐地提醒我们，庞贝及其邻近区域的剧烈变动与生命轨迹是怎样的。除了所有忙碌的噱头，你不能责怪有人试图给这样一段强大的历史——及其后世影响——赋予一个新的视角。希德尔斯顿确实被允许这样做，而且在经历重重波折后，可以肯定这个故事将触达新的英国大众观众。只是，作为一部制作，其简单的优势往往被掩盖在大量的电视化热爱和不可否认的空谈之中。
阿丽安图斯（Ariantus），他也经常被掩盖在大量的电视化热爱和不可否认的空谈之中。
尽管如此，这仍然是一部提供丰富信息的剧集。细节和重建场景敏锐地提醒我们，庞贝及其邻近地区的绘图及其生活戏剧性地呈现了怎样的景象。除了所有那些忙乱的噱头外，你不能苛责有人试图给这样一段强大的历史——及其后续影响——赋予一种新的诠释。希德尔斯顿（Hiddleston）能够这样做确实值得欢迎，而且在经历了风雨之后，可以保证这个故事将触及一个新的英国大众观众群体。只不过，作为一部制作，它简单的优势往往被掩盖在过多的电视化热爱和不可否认的虚浮之词之下。
Ariantus，经常感觉被掩盖在过多的电视化热爱和不可否认的虚浮之词之下。
从左至右：Regina Hall, Gemma Chan, D'Arcy Concho, Jennifer Garner 和 Child Scripps
Ride or Die
Disney+ 胜出
★★★
这部名为《Hollifer》的邮政喜剧动作片在处理原创性方面表现不错，它愉快地从其参考作品（如《Killing Eve》、《Bush Down at all》）中窃取素材。但它仍然是一台制造精良的机器。它非常独特，是对中年女性友谊的一次极具人性化的探讨。由于整个情节建立在 Hannah Waldringhaus 饰演的 Judith 是一名杀手的基础上，它具有一个优势，即大约每 30 分钟提供一次某种形式的宣泄性杀戮。当我们初见 Judith 时，她正处于巅峰时期，像过去几十年那样愉快地为了钱除掉邪恶的卡特尔分子。然而，她的老板 1000 Night，语气冷漠地表示不满。她正变得容易被伏击。她开始不受控制。我们被告知，她是一个 W3WCA —— 一个“特定年龄的女性”（Woman Of A Certain Age）。面对提前退休的提议，Judith 拒绝了。而当她的下一个任务将好友 Debbie (Dennis Spencer) 卷入她的职业生涯时，事情变得尤为私人化。Debbie 是一位极其高效的 MP3，她在婚姻期间一直支持丈夫竞选首相。然而，在她不知情的情况下，他卷入了阿尔巴尼亚黑手党，窃取了巨额资金，并且想要离婚。在《Hollifer》中，Judith 和 Debbie 很快感到需要潜逃。但真正的危险并非来自那些企图除掉她们的男人们的反应。而在于 Judith 隐瞒了 Debbie 25 年她的真实职业。虽然《Kids or the》在自身的基调上非常独特，但无论演技如何出色且有趣，该剧并未超越这些被模仿的类型，而是在其中大肆地玩弄这些元素。尽管有明显的刻意引导，但 Waldringhaus 和 Spencer 之间的化学反应感觉真实且有趣。预算显然有其优先级：我们看到了在风景名胜地拍摄的电影级动作场面，但 Spencer 必须忍受与一个男人的一次真正令人震惊的调情。该剧在发展朋友间的关系方面本可以走得更远；许多剧集的重复点在于 Spencer 说“你不是我想象中的那个你”，而 Waldringhaus 回答——“我可以”。但也许，在这种对同一个痛苦压力点的重复盘旋中，它恰恰是对任何亲密关系的准确刻画。从该系列结束的方式来看，很明显这可以一直延续下去。事实上，这也是其魅力的一部分。
不受控制：Hannah Waldringhaus 在《Kids or the》中
Pop Ludovic Hunter-Tilney
Chuck's XCX
照片：Jonathan, Film (2020)
在以向上凝视的姿态停靠了第一部巨作，并避开了那些无处不在的专辑通常引发的强烈反弹之后，Chuck's XCX 在面对职业生涯下一个阶段时正变得不再那么游刃有余。她的《Walking Heights》原声带也被当作正式专辑而非电影配乐来销售。她自己的电影，那部讽刺性的《Hindustani The Moment》，证明其错失文化时机的速度之快。在一种风格中，访谈中混合的回忆录将她的下一个音乐方向描述为转向摇滚，而该乐队毕竟已经融入了摇滚元素。Music, Fashion, Film 是日益增长的年度转变的结果。封面显示了一个非常长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的，长的
档位切换：Chuck's XCX 在新专辑《Music, Fashion, Film》中拥抱基于吉他的 hyperpop
与 Chuck 相关的子类型。这张专辑依然由 hyperpop 的建筑师之一、她长期的词曲创作和制作合作伙伴 AG Cook 共同完成。其基于吉他的音色与他的专辑《Brippop》有相似之处。《Back Music》以一套高度控制的计算机化流行朋克 riff 和冷漠的唱腔奠定了基调，“我认为舞曲流派已经死了，”Chuck 宣布道，展示了她产生评论的天赋，在歌曲作为单曲发行时，这被视为对麦当娜的一次反击。
《N26》将忧郁与羞怯完美地融合在一种关于世界末日的动态愿景中。在《Card Dechord》中，Chuck 用一种机智的日常版本地朗诵着“衣服成就女人”的阶段，背景是让人想起 William Oth 与 Blue 合作时期的重复制吉他失真。但其他曲目则显得质量稍逊，仿佛是匆忙完成的。
Chuck 在《Camera》中描述在镜头前焕发活力的情节，被一段沉闷的索引叮当声给削弱了。《Wink Wink》是一首朗朗上口的流行朋克歌曲，讲述了关于“好女孩-坏女孩”的原型，而这正运行在
Shania Twain
Limonious Twain
照片：Jonathan, Film (2020)
Shania Twain 的《Gone On Out》是有史以来女性独唱艺术家最畅销的专辑，全球销量高达 4000 万张以上。它发行于 1997 年，当时她连续推出了三张获得钻石认证的专辑，每张仅在美国就销售了 1000 万张以上。
这位加拿大人的榜单统治地位在 2003 年因一次在远足时的蜱虫叮咬而受阻。莱姆病对其声带造成了严重破坏。但你无法击垮一个优秀的女人，尤其是在 Twain 所属的乡村音乐领域。手术让她能够在 2007 年恢复发行专辑。她回归时声音较低，销量也远低于巅峰期，但她的影响力依然很高。
Twain 的新专辑（她的第七张）是在支持 Harry Styles 在温布利麦迪逊交响乐演出一段时间后推出的。Triple-Well 是另一位崇拜者：她在起步时就效仿了 Twain 的音乐风格。这位乡村流行乐的首位女王在 2023 年的《Queen of the Air! Chantonal》中，试图通过现代制作和对个体俚语的使用，笨拙地回报这种青春期的兴趣。而《Little Man Twain》则引领向相反的方向。这张专辑被定位为回归舞台之根。同名主打歌是一首优美的乡村民谣，Twain 在其中描述了她童年时被烟瘾极大的母亲开车带到加拿大冰封北部的矿业小镇酒吧里表演的情景。“在我母亲看来，我是下一个 Tanya Tucker，”Twain 唱道。她那新的、饱经风霜的声音与另一位乡村之星——Tucker 本人的声音交织在一起。Addling
那遥远的父母之梦。特温并没有沉溺于她生活中残酷的一面，那些不为人知的渐渐消逝的细节：家庭酗酒、家庭暴力，以及她在 22 岁时母亲和继父在一场车祸中去世。相反，我们听到的是《faded Man Jesus》，一首关于青少年崩溃的狂热摇滚曲，由 Queens of the Stone Age 的 Josh Hommie 演奏闪烁的管弦乐；以及《Northern Town》，一首关于纯真加拿大童年的原声叙事曲。总的来说，这是一次并不惊艳但还算不错的回忆之旅，被她当年横扫一切的巅峰时期的余晖所温暖。
这部电影非常长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长
这部电影非常长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长
这部电影非常长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长
这部电影非常长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长，长
这部电影非常长，长，长，长
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长[{"box_2d": [
25 June/On Jan 2006
★ ★
FY Weekend
17
Critics' choice
正在上映电影 Danny Leigh
Jack Eaton
关键膜 (Key Membranes)
FY 2006 ★ ★ ★ ★
账单的结算很少能成为新闻——但有些下滑比其他下滑更具意义。因此，在联邦陪审团裁定唐纳德·特朗普在 20 世纪 90 年代性虐待记者琼·卡罗尔 (Joan Carroll) 并在随后通过否认事实而对其进行诽谤后，特朗普上周向 8 琼·卡罗尔支付了授予她的 162 的三倍金额。现在资金已到位，而 4 琼则是一部关于这个年轻且睿智的女性的纪录片肖像——两次如此。
许多人可能只通过法律案件的库存图像才认识卡罗尔，一个戴着金发孔洞和太阳镜、出现在法院外的身影。你在这些照片中看不到的是一个伟大的美国之声，既干练又充满梦想。“如何使用观众知道它是一本杂志？”她询问导演 Merryard。
考虑到卡罗尔在很大程度上是美国大型智能杂志翻译古老传统的产物，这个问题问得很好。但印刷版的嗓音同样独特，不过在 1993 年代的一些声音中有所不同。纽约正致力于第一人称报道。如果说特朗普案是这部电影不可避免的终点，那么它也让人们看到了明星卡罗尔的速写，以及一个在曼哈顿亮光泥泞中行走的小册子作者。
无论过去还是现在，这个女性必须充满流行感和个性。我们很快就能理解为什么杂志将卡罗尔定为她的建议专栏作家，以及它是如何
平反的记者 8 琼·卡罗尔在她的事业中。她后来在针对唐纳德·特朗普的一起袭击和诽谤案中被授予 4
这在 20 世纪 90 年代中期演变成了她自己的风格。自 FY 以来。那个男人可见，而那些针对绝大多数女性观众的指导是实用且真诚的。卡罗尔在她的自我价值中挣扎。在 Bergdorf Goodman 百货公司的发行部门中，
她说，特朗普称候她为“那个建议为什么”。而你就是那个房地产大亨，她反击道。这里有两个当地名人正从事着卡罗尔认为是在狩猎的行为。特朗普随后被判定在不久后对她进行了性骚扰。
快进到 2009. 时代在变。攻击在 4 MeToo 的绿洲中被披露。卡罗尔在特朗普称她为公平之后才提起诉讼。（“把我的类型放进去，”他当然是这么说的。）卡罗尔的法律陌生感被坦率地呈现出来，但 Merryard 将更多内容融入到电影的问候中：轻快感、历史和背景。卡罗尔在当时没有预料到这次袭击，因为她说，后果“听起来绝不像那么少”。在 2012, 我们只看到她被询问经常针对女性性行为的问题（见，那时，生活已经以“商业决定”为由终止了她的合同；杂志误传了）。当她的胜利到来时，它触发了在线特朗普忠实者的浪潮，受其侮辱的鼓舞。另一个陪审团被推动记录卡罗尔的另一个威廉——目前尚未支付且在申诉中——的诽谤赔偿金。
然而，Merryard 并没有指责卡罗尔的复杂性，或者时代——以及人们——如何改变的问题。我们得知，她最初的沉默背叛了一个清晰的计划，即当成功女性被鼓励表现得无坚不摧时，男人就像我们一样软弱。“不要给他权力。他是唯一能让你成为受害者的人。如果你不给他，你就不是，”她在 20 世纪 90 年代的电视节目中主张。她当时还对指控名流男性的捕食行为的女性发表了广泛支持的言论。
在特朗普被判定性虐待责任 18 个月后，他成为了美国总统。但这部电影坚持认为，这个故事实际上根本不是他的——相反，它是对这个女性诚实的赞美，她的不屈形象在电影院中得以重现。
金色幽灵 (A Gold Ghost)
关键膜 (Key Membranes) 出版商：纽约时报
FY 2006 ★ ★ ★ ★
坦白说，我写这个人的评论时知道，很有可能这个人将继续扮演一个普通角色。这些 blyeans
尽管如此，我还是建议你去看看《1》夜之胸（a 1 night chest），这是一部来自泰国的、充满幽默视角与想象力的意识流电影。尽管克里斯托弗·波兰（Christopher Polan）的预算极低，但该片的故事内容极其丰富，完全不亚于一个 600 人的独眼巨人（Cyclop）剧组——其中不乏一个在 1990 年被闹鬼且赢了两次的女人。
显然，这让电影听起来像是一部喜剧——它确实然是，但这里有一些我们需要讨论的保留意见。这可能也暗示了一种某种混乱的能量。同样，你也能感觉到这一点。事实上，故事的写法很不寻常，从第一抹萌芽的尘埃进入一个被描述为“学术女色”（Academia ladyhoe，温纳特·古德曼 饰）的公寓，那是一个博物馆（因为这样会产生一种特殊的联系）。
要理解接下来的内容是一个挑战。不过，主要场景是那台设备
（一部闹鬼的吸尘器在《有用的幽灵》中扮演关键角色）产出的工厂，那里被一名羞愧工人的骚灵所困扰。事实上，整个地方都充满了超自然活动。工厂里悲痛欲绝的人发誓也瞥见了其已故的挚爱妻子帕特（Pat，丹哈·亨森 饰），有时甚至通过一台吸尘器。吸尘器的账单，以及绝佳的食物全景图随之清晰起来。我们面对的是一部超自然肥皂剧（死后的剧作，纳特的手套元素），旨在成为其丈夫的上层家庭。但我们还拥有一个强有力的寓言，导演拉查波恩·布鲁瑟姆（Ratchaporn Brootham）的处女作使其近乎直白。
请自行探索那些性爱场面。无论如何，你在观看时可能没有时间去思考，这竟然是布鲁瑟瑟姆的处女作导演电影——或者在如此疯狂的构思中，其内在逻辑竟然能如此稳固，是多么令人惊叹。但事实确实如此，我发誓，在结尾时，我真的鼓掌了。现正上映。
《海上》（On the Sea）
2006年星期五
FY 2006 (FY) ★ ★ ★ ★
在威斯敏斯特，现任首相安迪·伯纳姆（Andy Burnham）正致力于缩小伦敦与英国其他地区之间的差距。许多新剧集在那个被列为故障的英国（fault listed Britain）的 Sarraline 地点上演。场景设定在北威尔士海岸，那里的人们——由杰克·切里·沃德（Jack Cherry Ward）饰演，他像父亲那样维持生计——拥有休息丘。一名来自苏格兰的新人丹尼尔·卢伦·麦克法德（Daniel Lurene MacFad炳）在为一家大学潜水搜寻。该调查讲述了这些渔获在伦敦高级餐厅里的价格之离谱。尽管他看到了一些穿着不可描述之装的伦敦人，但这位中年男子从未访问过这座城市。
他的经验局限以及乡村社区的运作方式是海伦·沃尔奇（Helen Walch）这部电影的关键。然而，正如角色敏锐意识到的那样，许多人会非常热爱生活。工作虽然艰苦，但能维持生计。他与青梅竹马的妻子玛吉（Maggie，苏·怀特 饰）的婚姻很稳固。他们是那种会在村庄派对上率先起舞，以带动所有人参与的夫妻。
遗憾的是，夜晚以一场争斗告终。当地男人出手相向，起初看起来像是对陌生人的敌意。久而久之，我们意识到他们发现他是同性恋。而他对此并不在意。他的反应截然不同；那些他花了一辈子去否认的欲望，在阴险而具有行动力的场所被揭开了。
这里有 Bodehach 山的基布森（Kibson）和 Linf 的乡村风情。但《海上》拥有足够有力的瞬间，能盖过这些；一系列出色的表演，以及对一个既广阔又令人心生敬畏的景观的雄辩摄影。你可能觉得故事最后对杰克处理得太过了。在赞美一个角色的坚强时，电影可能会最终将他们刻画成某种模板。尽管如此，斗争的背景使得它在某些地方——仅仅是偶尔——突破业务角色时，显得更加动人。
《磁盘》（The Disk）
2006年4月 (FY) ★ ★ ★ ★
我的可怜受害者，在英国，由于酸浸物的迅速增加，宝贵的法院空间正在快速流失。未付费用也被视为一种量化手段——因为城市握手法院（city handshuts courts）也被吞噬了。但让我们谈谈关于
喜剧。这部名为《The Disk》的电影保持了富裕的背景色调，而基调则显得粗鄙。主演是约翰·约翰逊（John Johnson），他是一位带着受害者般笑容的通勤者，最著名的时期是在 2010 年代。自从它被弃之不顾以来。不过，最理想的情况是，亚当·桑德勒（Adam Sandler）
在电影中得到了体现——他的无预算经典之作《Happy Glitter》显然是约翰逊饰演的角色帕蒂·博伊德（Patty Boyd）的灵感来源，而他的对抗则指向一个肥硕的体育体制。那个体制正是他的父亲查克（Chuck），一个活动球队的所有者（1984 年后期的一名球员），由哈里斯博士（Dr Harris）操盘，在一次赌注中以 1 / 3 击败了他。帕蒂
即便在此时，依然在寻求他老父的认可。但当查克陷入那场被腌制般的混乱（pickledd rowace）时，剧本的一个转折发现他的儿子秘密地被强制要求拥抱这场比赛。
现在，就像 Happy 将无预算地带变成了高尔夫球协会主席一样，帕蒂必须将一种极具攻击性的服务方式适应到其他内容中。效仿桑德勒，帕蒂在结果中表现得像他一起玩的人一样，那些人对他冷嘲热讽，然后将他抛在尘埃之中。
如果你觉得这部电影似曾相识，《The Disk》可能还会带来惊喜——它开启了自己的个性，少了一分喧闹，多了一分来自名人摄像机的忧郁，被扔进了一个仓促的伪水洼中。约翰·麦克尤恩（John McEwen）在评论中生动地解构了他的故事：“这简直就像是他意识到改变永远不之太晚。”我认为，在结尾处，“几乎被腌制”（almost pickledd）的时间有点太长了。电影表示，如果这项运动本质上是愚蠢的，那么该怎么做并不是我认识的任何人——显然，未来是被腌制了。现在是 4 月 17 日
剧评 Sarah Hemming
《樱桃园》
Sarah Theatres
FY 2006
★ ★ ★ ★
在莎士比亚的作品中，焦点在于最新的动态；而在剧院中，则在于地产。果园区域是一个微观世界，生命中的重大问题在此展开博弈。这一点在俄国剧作家最卓越的最后一部剧作中得到了最完美的表达：一个注定毁灭的樱桃园这一简单隐喻，勾勒出一个处于剧烈变革边缘的社会，以及一个被不作为和爱所困扰的家庭。在今年，我将看到肯尼思·詹宁斯 (Kenneth Jennings) 饰演商人利乌波夫金 (Liquidion) 的精彩演出，海伦·亨特 (Hellen Hunt) 和比尔·普尔曼 (Bill Pullman) 则饰演这对毫无生气的贵族庄园主，塔玛拉·赫克利 (Tamara Huxley) (1881年总统) 为这部剧在希望与怀旧之间精妙的平衡画上了一个孤独的句号。安娜·弗莱切 (Anna Fletsch) 营造的幽灵般的舞美显得既短暂又基础，在相同的规则下开始并结束——由记忆引导的坚硬预言。这是一场由深刻见解引导的舞美设计，但奇怪的是，它并未能将这些想法完全地拉入观众视野，从而在很大程度上成为这部杰作的亮点。我们被提醒，果园多年来没有结果，这种潜伏的意义代表了那些如何成为美丽的樱桃花瓣，纯净地悬挂在演出之上，而扭曲的枝干则穿过布景向
尚未完全
盛开
海伦·亨特
与
肯尼思·
彭纳 (Pennagh)
在
《樱桃园》中
FY 2006
椽子延伸。第二幕在柔和、病态的风景中展开，角色们更像是在一位老剧作家的笔下漂泊。他们的表演带有某种略微夸张的特质，仿佛许多角色都在演出他们个人的戏剧，意识到即将到来的故事，却不愿或无法改变。这会产生一些滑稽的时刻：波斯 (pous)、家务 (chores)、阴郁 (dark)、海菲洛斯 (hyphilous) (安迪·布什 Andy Bush) 带着他刺耳的号角，在喜剧性的欢乐中；普尔曼的脸则存在于他自己的小气泡中，心不在焉地扮演着亿万富翁。但这也深入挖掘了一个持久的真理：人们往往过于自我沉溺，以至于无法应对当下的需求。
令人惊讶的是，一部一个多世纪前写出的作品，竟能如此深刻地与我们这个短视的时代共鸣。在劳拉·韦德 (Laura Wade) 的最新改编版本中，阿尔弗雷德·乔奇 (Alfred Jauchi) 饰演的理想主义者特罗曼 (Trollman) 与布拉纳 (Branagh) 饰演的务实资本家利乌波夫金 (Liquidion) 之间的争论是众多被推向前台的冲突之一。然而，这种碰撞尚未完全涵盖该剧完整且苦甜参半的情感幅度与深度。结尾处有一种复杂的情感交织并未触动人心，尽管迈克尔·埃尔温 (Michael Elwyn) 饰演的菲尔斯 (Fire) ——那个被所有人遗忘的老仆人——带来了令人心酸的表演。此外，一种奇怪的紧迫感缺失削弱了该剧的整体冲击力。
真正引起共鸣的是个体的心碎，尤其是年轻女性的。安柏·加德 (Amber Gadd) 饰演的浪漫女仆查斯坦·切希尔 (Chastain Cheshire)、德恩福德·梅 (Dernford May) 饰演的灵动安娜 (Anya) 正凝视着特罗曼；埃丝特·史密斯 (Esther Smith) 饰演的讥讽瓦尔雅 (Varya) 则因利乌波夫金无法求婚而尖叫。与此同时，布拉纳的表演极其出色，他塑造了一个被环境所造就的粗糙之人，紧抓着金钱带来的安全感，却仍被自卑感所折磨。充满了此类深刻解读的制作，虽然尚未完全盛开，但它就像传说中樱桃园的光芒一样令人怀疑。8月 29, rec.org.at
真正引起共鸣的是个体的心碎，尤其是年轻女性的。安柏·加德 (Amber Gadd) 饰演的浪漫女仆查斯坦·切希尔 (Chastain Cheshire)、德恩福德·梅 (Dernford May) 饰演的灵动安娜 (Anya) 正凝视着特罗曼；埃丝特·史密斯 (Esther Smith) 饰演的讥讽瓦尔雅 (Varya) 则因利乌波夫金无法求婚而尖叫。与此同时，布拉纳的表演极其出色，他塑造了一个被环境所造就的粗糙之人，紧抓着金钱带来的安全感，却仍被自卑感所折磨。充满了此类深刻解读的制作，虽然尚未完全盛开，但它就像传说中樱桃园的光芒一样令人怀疑。8月 29, rec.org.at
《快车道》音乐剧 (Trainspiring the Musical)
纽约时报
药物与戏剧的结合如此古怪。Connaith De Verio 承认了上瘾。Duncan Macmillan 的 Apple, Dunn 和 Philip Rogers 的戒断——两者都表现得极佳。即便如此，Postmaning the Music of a slip ink。海洛因成瘾与音乐剧在某种程度上并非天生的一对，但只要有一个非常精明的故事就能使其奏效——就像 Danny Boyle 执导的那部基于 Vexus Welsh 1993 年小说的 1996 年电影，风格前卫、幽默且阴暗。
然而，这次的音乐剧改编无法与之媲美。一群才华横溢的年轻演员在努力工作。但这却是一个非常尴尬的产物：冗长、钝拙、浅薄且匮乏。生活的高潮与低谷，愤怒与危险，在生命的黑暗之巅——这些元素往往被磨平地处理成了某种可接受的东西。电影在一开始就全力出击，将观众抛入肮脏的爱丁堡电影中，在那里 Renton 和他的瘾君子同伙们肆意妄为；而音乐剧则采取了较长的铺垫。开场曲在 Letch grab 中仅介绍了几名处于亢奋状态的参与者和海洛因瘾君子 Renton（由 Lewis Kidd 以相当傲慢的态度饰演）；他的伙伴 Spad、kick boy 和 Tommy；几位忧心忡忡的父母，以及好斗的 fergive，一个在电话亭里都点不着火的人（Frankie O'Connor 的塑造确实令人心惊）。
母亲们唱出她们的忧虑，有关于撒切尔主义和去工业化如何让年轻人被抛弃的演说（我们的问题在于，这部剧一直在告诉我们那些本应通过故事自然展开的事情），而且在相当长的一段时间里，药物似乎几乎成了某种分心之物：更多是深夜的纵容，而非毁灭性的成瘾。舞蹈感官虽纤细但情节细碎，电影中那些更强硬的内容消失了——例如 Renton 的 revoltion。虽然其他令人震惊的片段依然存在，比如一个被忽视婴儿的死亡、孩子们的到来以及好友 Tommy 的凄凉没落，但它们在舞台上的时间远远不够。当 Renton 开始用药时，给人的感觉更像是一场噩梦，而非一次幻觉般的折磨。由 Welsh 和 Stephen McGuinness 创作的歌曲涵盖了摇滚、北方灵魂乐和乡村音乐。
以及冒险，并提供了令人愉快的推动力。但它们被真正的名曲翻唱版本掩盖了，例如 The Verve 的 'Bitter Never Enoughest' 和 I can thank Troll's；但我无法地解释为什么在 Caroline Jay Ranger 的制作中，尽管有大量尖锐的能量，却依然显得格外空洞。一些片段确实有亮点，比如 Spad 在吸食速度药（speed）处于亢奋状态时的荒诞求职面试，Kieran Andrew 瘦长且抽搐的表演增加了肢体喜剧的效果。在另一点上，处于幻觉中的 Spad 问 Renton 为什么要唱歌，此时你瞥见了将音乐形式进行隐喻化使用的潜在关键。这本可以在许多人的音乐世界中产生共鸣。相反，它感觉就像是对更优秀版本的苍白模仿。想要体验 Renton，请选择其他作品。9月 1, 然后通过 trainspiringthenon.co.uk
从左至右：饰演 Renton 的 Lewis Kidd，饰演 Spad 的 Kieran Andrew，以及饰演 Nick Roy 的 Sheridan Townley
18
25 June/26 July 2024
生活与艺术
金融时报周末版
快照
《无题》(2015)
林宣朗 著
你的夏季饮品是什么？
我的是一杯愤世嫉俗
Rebecca Watson
趋势
有时，我有一种可怕的感觉，觉得自己正一头栽进一场广告宣传战中。在某个会议室里，一旦有人算准了我们将把工资花在什么地方，而我们只有在消费时才会得到答案。今年夏天，这不是四月——我的周末参考开始。一种新的烈酒进入了人们的视野。在近期的文章中，有两派关于“夏季饮品”的领军者。《太阳报》、《纽约时报》和《卫报》正在为 Hugo Spritz 敲响鼓点。与此同时，《猫》报则宣称“这个夏天，我们喝伏特加”（《太阳报》7, 《纽约时报》也提到了“vodka crue”，一个被宣告需以零钱般的距离来处理的缩写）。我没有统一的夏季饮品——在一次周末专题中，我们的公寓太热了，以至于我最后在 Buns 餐厅点了一份双倍芒果玛格丽特。（自那以后，我没有报告过任何补救措施。）上周末，则是
反击香槟啤酒（backlash shandy）的路线。这并不是一项关于喝什么的革命性科学，但我认为这是一种方法——在这一刻，我想要的是什么？不过，抛开个人选择不谈，现在是 Hugo 的世界。无论多少真酿艾尔或芒果都无法改变这一点；夏季饮品的故事与时间有关。20 世纪 70 年代后期，Leonard Rossiter 和 Juan Collina 为 Circass 拍摄的广告如此有效，以至于让苦艾酒整体的销量大增。更近期地，Aperol Spritz 在 2010 年夺得桂冠并一直占据主导。一场城市广告推动了 Cosmopolitan 的销量。《大讨论》激起了人们对 White Burnham 的兴趣。Chris Bishops 的最新专辑中包含一段关于“vodka crue”的歌词，这难道是个巧合吗？饮品趋势往往由名人关联或昂贵的广告活动决定。尽管如此，这既是《权力的游戏》，也是 Sophie Turner 面对其
德国人（放入 Hugo Spritz 中的日式成分——
2015 年，在赴日学习艺术的最后一年，林宣朗（Lin Hsuan-Lang，音译）回到了家乡台北，并以全新的视角审视这里。为了记录这种既“亲密又陌生”的家乡体验，这位摄影师花了两个月时间像“他们”一样行走（L）（女性拿着相机，凭直觉拍摄）。即将于东京摄影师画廊（Photographer's Gallery）展出的《台北 No Goodbye》，将这些漫游凝练成一幅充满活力而又温柔的肖像，捕捉与城市居民的短暂邂逅及其周围万花筒般的环境。
这些基于胶片并带有蓝色线条的图像，通常带有失焦元素，具有一种梦幻的质感。许多照片看起来像电影剧照，让观众对背后的故事产生好奇。在这里，一个庄严的周末与相机镜头对视。其色彩之亮，与周围叶片的颜色相呼应，但首先映入眼帘的是，它在与栖息地融为一体的同时，又与之格格不入。
Yasui Gakumoto
《台北 No Goodbye》，东京摄影师画廊，8 月 1 日至 26 日
继续关注：名人可以销售任何东西，但当饮酒成为一种向往的爱好时，效果更好。在漫长的一天工作后，在阳光下喝一杯冰饮，勾勒出一种无需如此艰苦地争取饮品、天堂之诺触手可及的生活图景。难怪名人纷纷建立自己的品牌——关于这一切的愿景，以及你可能会变成 George Clooney 的感觉？名单没完没了。Emma Watson 和 Margot Robbie 都有自己的金酒品牌，Brad Pitt 也是。我也很喜欢地讨厌阅读，以及 Kylie Morgan 和 Joe Ben Jeri。（纯净生活的承诺同样获利丰厚，由 Oliva John, Brita Hadd, Tom Holland 提供的无酒精版本便是如此）我们已经多久了
我不怀疑 Hugo Spritz 的味道会很不错，但每个人都做出同样的决定，这让人感到一种眩晕感。我不确定我不确定我不确定我不确定我不确定我不确定我不确定我不确定我不确定我不确定我不确定我不确定我不确定我不确定我不确定我不确定我不确定我不确定我不确定我不确定我不确定我不确定我不确定我不确定那
安迪·伯纳姆的区域特权
Janan Ganesh
无国之民
他在 21. 进入议会。一周之后，内阁将其称为伦敦。伦敦的第一名是一个曼彻斯特奋斗多年以增强其城市实力的人，而此时他则进入其中进行管理。现在，他在唐宁街上勉强维持，其受到的审视几乎不比在女孩那里更多。这是一个经过规划的职业生涯——是对安迪·伯纳姆政治才华的致敬，但如果他能承认的话，也是对英国建制派成功的致敬。那么，是什么支撑了他的委屈之情？是什么促使了他？他记得“在权力不经意间若隐若现的声音”，以及在剑桥大学时的一种“冒充者综合征”的感觉。兄弟，生活比这艰难得多。也许这种委屈是为了那个“世界”（在我看来，这个词已成了“曼彻斯特”的代称）而非他自己。但，这仍然不仅仅如此。伦敦占据主导地位是有原因的。英格兰作为一个统一实体已经存在一千年了。与统一较晚的德国或意大利不同，其各地区没有经过漫长的岁月来发展独立的经济中心。因此，约克郡不是伦巴第，伯明翰不是汉堡，曼彻斯特则拥有维多利亚时代的辉煌。它的规模大约只有首都人口的五分之一，而首都的规模几乎永远是不可撼动的。随着时间推移，唯一改变的是伦敦之后城市的排名。（关于这一点，曼彻斯特什么时候才能在新兴医院方面独占鳌头？它将给林肯提供什么样的赔偿？）一个统一时间与英格兰相近的国家是法国。果然，巴黎地区在法国 GDP 中所占的份额与伦敦在英国中的份额一样大。这里不存在
阴谋。各地区并非被故意打压。这是历史路径依赖在起作用。事实上，如果没有规划法等人为限制，伦敦可能会比现在更加主导。缩小差距是一项光荣的任务，在我有记忆的每一任政府都尝试过。将这种差距归结为首都蓄意的恶意是降低格调。让我建议伯纳姆是如何在这种情况下脱身的。在十年前脱欧的冲击之前，伦敦排斥“真实”之物的观点在某种程度上是正确的。然而，这种态度自那以后已演变为一种政治-媒体逻辑：伦敦生活在一种全天候的恐惧中，担心被认为不“理解”这个国家的其他地区。反转后的实用主义，政治-媒体伦敦特别担心在全天候的审视中被认为不“理解”这个国家的其他地区。因此，才有了这种拉拢。除了在这种背景下，伯纳姆的崛起是不可能被理解的。他是某种区域特权的受益者，而这种特权在以前可能从未存在过。对伯纳姆最强有力的审计来自于像伯纳姆这样的城市居民，他们不能被地称为“脱离实际”或者陷入某种疯狂。在另一个 era, 某些问题本会难住伯纳姆。为什么西北地区会出现如此巨大的财政赤字？谁认为在 1970 运行的前沿噱头能持续超过几个月？在什么样的世界里，曼彻斯特是一个
可复制的城市再生模式？像其他人一样喜欢这里——由 Skid 提出——但大多数后工业城市并没有 ANAND 的学生、两家巨大的足球俱乐部、一座国际机场和一座 BBC 基地。斯托克或桑德兰难道也要强行拼凑出等量资源吗？此外，关于安迪·伯纳姆 (Andy Burnham) 是半个世纪以来首位北方首相的说法又是怎么回事？（这不是他的主张，但确实在流传。）托尼·布莱尔正好给了安迪·伯纳姆同样的机遇。如果非要说，利兹出身的应该是 Liz Trane。也许“北方”现在意味着“北方账户”。如果你听起来不像波斯特的 Stephen，你基本上就来自 longbehaviors。过去对北方的忽视必须消除。但因为地区敏感性而小心翼翼地围绕着一个权势人物行走，情况也好不到哪去。回顾任何喋喋不休于自己出身地的政治人物。理查德·尼克松无法摆脱关于 Whitney 的纠缠，仿佛一个纯洁的家乡可以替代自身的品德。通常，最强大的领导者似乎没有特定地域属性（玛格丽特·撒切尔，罗纳德·里根），甚至违背自身利益而行（富兰克林·罗斯福，克莱门特·艾德礼）。大卫·卡梅伦虽然不在同一量级，但他是最后一位至少在技术上胜任工作的首相，他极少提及乡村家乡县 (Home Counties)。尽管他身处其中，但他的传记更像是一个计划的替代品。认为美德存在于核心地带的压力，对大都市的廉价攻击，以及这些大都市反击时所体现的健康，如果安迪·伯纳姆的崛起能保持低调，那么它会比 JD 万斯 (JD Vance) 的崛起更为频繁。
janan.ganesh@ft.com
周六 下午 4:41
他们真正来这里只是为了时尚。我花了几周时间寻找一件完美的猎犬格纹夹克。但当一辆以 150mph 速度驶过的福特 GT40 让他把饮料洒得满身都是时，他惊讶地发现自己一点也不介意。
没有什么比古德伍德复兴赛 (Goodwood Revival) 更棒的了
GEOD
GOODWOOD
18-20 SEPT 2026
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为何如此昂贵
第 6 及 7 页
Rene Dunbar
2 | 金钱
金融时报 周六 2026 年 7 月 25 日
新闻
本周重点 . . .
Nathan Brooker，金融时报金钱版编辑
小时候，漫长的学校暑假是无忧无虑的——到处是夏令营、骑行，以及在公园里没完没了的顶球和截击游戏。而作为一个家长，回想起这一切，我想：哎呀，那听起来得花不少钱。
英国的托儿成本处于世界最高之列——而工作父母在为期 6 周的假期期间感受到的压力最为沉重，因为他们可能需要支付数千英镑让孩子参加假期俱乐部。更糟糕的是，不到 10 个俱乐部中有 6 个能提供早上 8 点到下午 6 点的照顾，这意味着家长仍需寻找额外的安置方案。这绝非易事。封面故事，第 6 及 7 页
西国家庭有什么问题？
德文郡和康沃尔郡的房地产市场可能是全国最失能的
Neal Hudson，第 4 页
“我的财富管理经理对我有偏见吗？”
我们要离婚了，而我们的财富管理经理一直与我丈夫的关系更为亲近——我是否应该换掉他？
您的疑问，第 5 页
“你永远无法摆脱身无分文的创伤”
Depop 创始人 Simon Beckerman 分享他的故事
我的财务生活，第 9 页
Burnham 何时才会解决“工作成本”危机？
新任首相需要让工作获得应有的回报
Claer Barrett，封底
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数百人就加密货币税收打击行动与 HMRC 达成和解
投资
新报告规则使隐藏收益变得更加困难
JOSEPHINE CUMBO
在启动加密货币逃税打击行动三年后，英国税务海关总署（HMRC）通过与数百名加密货币投资者达成和解，追回了超过 £8mn 的资金。
通过信息自由申请获得的数据显示，在过去两年中，有 502 名加密货币投资者就未缴纳的税款与英国税务当局达成了披露和解。
在 2024-25 税务年度，280 人与 HMRC 达成和解，总支付金额为 £3.5mn。在 2025-26 年，和解人数下降至 222, 人，但总金额增加到约 £4.8mn。
这些数据首次全面揭示了 HMRC 于 2023, 11 月启动的加密货币披露活动的成效。该活动邀请投资者申报与交易代币、非同质化代币（NFTs）相关的未缴税款。
金融行为监管局称，约 8% 的英国成年人持有加密资产 —— Charlie Bliley/金融时报
同时，向数万名涉嫌逃税的加密货币投资者发送的“提醒信”（nudge letters）也随之增加。
“这些和解是当局更大规模合规打击行动的一部分，对加密货币投资者及其使用的平台都具有重大影响，”向 HMRC 提交信息自由申请的金融服务合规提供商 Identomat 的首席运营官 Zurab Kotaria 表示。
根据英国税务规则，处置加密资产通常在超过 £3,000 的年度资本利得税（CGT）免税额（2022-23 年为 £12,500）时触发 CGT 纳税义务。
超过此阈值的收益，对于基础税率纳税人按 18 per cent 征税，对于高税率和附加税率纳税人则按 24 per cent 征税，具体取决于其其他收入。
Identomat 表示：“在 HMRC 认为买卖加密资产属于‘贸易’的情况下，收益可能需要缴纳所得税和国民保险 [contributions]，个人需通过自我评估（self-assessment）申报并纳税。”
在达成这些和解的同时，新的国际报告规则使得投资者更难隐藏加密货币收益。
英国是 40 多个采用经合组织（OECD）《加密资产报告框架》的国家之一，该框架要求加密资产提供商收集客户和交易信息并报告给税务当局。
从 2026, 1 月起，英国提供商被要求收集用户的身份证明、税务居住地详情和交易摘要。
HMRC 在本月发布的年度报告中表示：“我们将与相关的国际合作伙伴交换非英国税务居民的信息，并从他们那里获取英国税务居民的信息。”
对数字资产市场的审查增加，与此同时，英国的加密货币持有量也在显著增长。
金融行为监管局今年的分析估计，约 8 per cent 的英国成年人（约 4.5mn 人）持有加密资产，需求自 2020 年以来增加了一倍多。
读者来信
为什么这次可能并没有什么不同
1635年，郁金香能买下梅费尔区的一栋房子。18世纪80年代，南海公司股票达到了历史最高点。2000年，互联网公司的估值取决于用户数量。2026年，我们对将永远改变世界的新技术进行估值，但似乎认为它可以被赋予任何价值！我们学到的东西实在太少了——John B. Matthews，通过 FT.com
当前繁荣的一个强力贡献因素是大规模的预算赤字。然而，政府债务正在迅速增加。在某个时刻，这将会触及极限。届时，债务市场将要求更高的利率，音乐随之停止——来自荷兰的视角，通过 FT.com
我突然发现我不再像以前那样热爱我的英国股票了
新兴市场真的是最好的去处吗？Stuart Kirk 的亚洲新兴市场基金中，有34%的资金仅投资于三家公司（台积电、三星和 SK 海力士）和一个板块（芯片）。这是一次巨大的豪赌——Academicals，通过 FT.com
最重要但未被提及的是盈利质量。如果两家公司的年度盈利增长率均为 10%，但 A 公司的增长来自营业利润，而 B 公司的增长则是由于汇兑收益，那么 A 的盈利质量就比 B 更好——来自日本的 Steve，通过 FT.com
Rightmove 是否在愚弄我们？
投资人工智能如何能帮助 Rightmove？如果它把房产搜索变成了类似于谷歌搜索的人工智能输出，那我就敬谢不敏了。如果中介能填写所有现有字段以提供最大程度的信息，Rightmove 才会更好——Floriculturist，通过 FT.com
我一直觉得 Rightmove 错过了一个机会，它没有为那些仅仅喜欢窥探的人提供付费选项或第二个站点，并在每套房子下方设置评论区。
在我附近有这么多价格极其虚高或装修糟糕的房子，如果能在那下面写一句“你在开玩笑吧”，对我来说简直是种治愈——Dan Glebles，通过 FT.com
这是对一家可以说在英国最成功的科技公司之一，所采取的一种典型的英国式负面看法。
在二十年间，Rightmove 为消费者创建了一个具有巨大价值的平台，显著降低了房产搜索成本，并产生了真正的网络效应——Thindker，通过 FT.com
在 Rightmove 出现之前的日子里，我怀疑地产中介为报纸广告和其他印刷资料支付的费用，与本文中提到的每套房产平均 440 英镑的数额一样多——Roger Bill，通过 FT.com
您可以通过电子邮件 money@ft.com 或在 Twitter 上通过 @ftmoney 对《金融时报》Money 栏目的文章发表评论。评论可能会为了篇幅和清晰度而进行编辑。
金融时报 周六 2026年7月25日
Money | 3
新闻
定价过高的房产“销售时间长四倍”
房地产
超过五分之一的卖家需要至少一次降价
詹姆斯·皮克福德 (JAMES PICKFORD)
英国房产卖家如果定价过高，且必须降价一次或多次才能达成交易，其平均销售时间比初始要价即被接受的卖家长四倍多。
房地产中介公司第一太平戴森森 (Savills) 针对房产定价过高影响的研究发现，35 per cent 的销售需要一次降价，11 per cent 需要两次或更多次降价，这凸显了卖家未能根据当前市场情况调整预期。
第一太平戴森森表示，如果最初定价准确，可以在 28 天内达成销售协议。但一次降价会将这一时间延长至 100 天或三个多月；两次降价则可能将获得出价的时间推迟至近五个月半。
第一太平戴森森住宅研究总监卢西安·库克 (Lucian Cook) 表示：“这揭示了定价准确性的重要程度。我们知道，每个人的天然倾向都是将价格定在估值范围的顶端，因为这是你最大的资产。但这些数据告诉我们，房产定价偏差越大，销售过程就越冗长。”
被迫降价的人每次平均削减 4.4 per cent。超过五分之一 (21.8 per cent) 的卖家仅需一次降价即可成交；另有 7.5 per cent 需要两次降价，两次降价的平均价格跌幅为 8.4 per cent。那些不幸需要四次降价的卖家，总价跌幅达 15.4 per cent。
定价超过 £1mn 的房产业主需要更大幅度地降价才能出手。对于这些房产，在需要降价的情况下，平均降幅为 8.5 per cent，而整个市场的平均降幅为 6.4 per cent。该价位段的房产销售时间也更长，进一步加剧了因降价而导致的出价延迟。
卖家往往坚持设定一个在更广泛的市场中已不再适用（无反映）的价格。购房代理公司 Garrington Property Finders 的首席执行官乔纳森·霍珀 (Jonathan Hopper) 表示，市场状况已经转变，导致追求高价房产的买家减少——这是一个典型的买方市场。
需要降价的 £1mn 以上房产卖家平均折扣为 8.5 per cent — Hobe Adams/Bloomberg
“有些人对 2026. 年的市场现实处于否认状态。他们看的是几年前自己街道上最后一套房子的成交价，但那个对比值对今天的估值没有任何参考意义。市场已经转移，买家池在缩减。”他补充道，如果抵押贷款利率上升，买家可能会因为价格过高而无法购买之前能够负担的房产。
降价在某些地区更为普遍，例如英格兰东南部，那里 39 per cent 的销售需要降价。在西北部，仅有 28 per cent 需要降价。在苏格兰，法律要求卖家根据包含测量师估值的官方房屋报告来定价，仅有 13 per cent 的房屋需要降价。
房产卖家如何不得不调整其价格预期
分析基于过去两年内已进入交换阶段的协议销售房产
来源：第一太平戴森森 (Savills)
霍珀还指出，房地产中介为了与竞争对手竞争，倾向于建议一个看涨的估值，旨在“测试市场”。
“这是一个古老的伎俩，在当前市场环境下无异于玩火，”他说，“‘测试市场’最终可能会让你在财务上损失更多。”
库克表示，一个激进的价格可能会为中介赢得更多业务，但也会影响其公司房产的周转率。“该房产在他们的账面上停留的时间会大大增加。他们必须管理其营销，这会拖累他们的时间。”
买家的心理也可能给那些野心过大的卖家带来不利影响，因为这些人最终会被迫降低价格。“人们会说——等一下，这房子怎么回事？或者他们认为卖家的预期显然太高了，所以他们会持观望态度，看最终价格会跌到哪里。结果，他们往往会推迟表达购买意向，”他补充道。
研究发现，即使在卖家一次性降价幅度足以激发兴趣的情况下，随后达成交易所需的时间也几乎是卖家以初始要价成功售出时所需时间的两倍。
过去 20 年的一个重大变化是价格历史的透明度，如今通过 Rightmove 或 Zoopla 等房产网站得到了极大的便利。买家触手可及大量数据，可以轻松地将一套房产的价格与另一套进行基准对比。
这些网站上使用的价格区间与决定是否降价变得更加相关，因为大多数用户是在特定的区间内搜索房屋。赛理尔士（Savills）英国住宅业务主管安德鲁·佩拉特（Andrew Perratt）表示，如果卖家想要通过降价来吸引一批新的买家群体，降价幅度必须足够大，以将房产推入一个更低的价格区间。“4% 的降价真的能让你进入一个不同的价格区间吗？”
他补充说，卖家考虑将起价定得比预期低还有其他原因。“如果你的定价处于较低水平，很可能会引发竞争性的兴趣。如果房产代理人工作得当，你将会进入一种密封出价（sealed-bid）的局面。”
“那是完美的市场情景，人们会相互竞价。如果你起价太高，你将得不到任何报价，也就没有任何谈判筹码。”
2032年之前将有超过 600,000 名养老金储蓄者面临税收陷阱
养老金
递减年度限额影响收入 £200,000 以上人士
ALAN LIVSEY
新分析表明，将被迫减少养老金缴款的高收入人数在未来五年内将增加五分之一以上。
根据英国税务海关总署（HM Revenue & Customs）的数据，所谓的递减限额门槛（从 £200,000, 起算）将在截至 4 月的当前纳税年度内影响 50 万名收入者。
养老金咨询公司 Barnett Waddingham 为《金融时报》提供的分析显示，如果门槛不作调整，到 2032, 这一数字将增加 114,000 人。
大多数纳税人的养老金年度缴款上限为 £60,000。然而，当应纳税收入与免税额之和超过 £260,000, 时，该缴款限额将逐渐递减至 £10,000. 的底线。如果计算不正确，纳税人可能会被征收额外的税款。
Barnett Waddingham 养老金研究主管 Tyron Potts 表示，一旦纳税人的收入超过该金额，“他们将不得不决定如何处理其缴款……[之后]他们必须谨慎行事。对于高收入者，年度限额的递减可能会迅速且隐蔽地侵蚀养老金税收减免，因此了解
今年将有 50 万名纳税人受到影响
你的调整后收入以及递减机制如何适用，对于避免意外的税单至关重要，”他补充道。奖金或其他一次性事件也可能导致收入跳升。
过去政府希望增加税收，这意味着应纳税收入门槛自 2020. 起未随通货膨胀而增加。如果根据通货膨胀调整，£200,000 的门槛在今天将价值超过 £254,000，而该期间的工资增长速度甚至更快。
尽管限额被冻结，但标准缴款限额在 2023 年从 £40,000, 提高，部分目的是为了减轻冻结门槛随时间产生的影响。此前，该限额在大约十年前曾有所下降。
并非所有人将其视为问题。前养老金大臣、养老金咨询公司 LCP 合伙人 Steve Webb 爵士表示：“毫无疑问， 2010 年代连续削减年度限额产生了负面影响，尤其是对 NHS 的高级专业人员。但更高的起步限额与更温和的递减机制相结合，意味着对大多数人来说影响微乎其微。[因此，收入门槛的冻结] 可能会比过去成为更小的问题。”
旨在减少高收入者过度利用养老金作为避税手段的举措，继 2014 年前财政大臣乔治·奥斯本（George Osborne）的养老金自由政策之后实施。
财政部还冻结了其他所得税门槛，包括取消应纳税收入 £100,000 以上的个人税收免税额，这可能会使纳税人的边际税率（包括国民保险）上升至 62%。在这一水平上，所谓的“Henrys”（高收入但尚未富有的群体）通常能感受到影响。
英国财政部表示：“递减年度限额仅适用于收入最高的储蓄者，以确保养老金税收减免的利益能够公平地针对最需要它们的人群。”
4 | 金融
金融时报 2026 年 7 月 25 日 星期六
分析
西部地区：一个最为失调的市场
尼尔·哈德森（Neal Hudson）称，由于当地人买不起，未售房屋正在大量积压
在孩子们开始上学之前，暑假要轻松得多：我们每年都去康沃尔郡（Cornwall）。沙滩、冰淇淋，而且从我们居住的巴斯（Bath）开车过去很方便。那时风险很低——唯一担心的就是突然降雨，或者与一只极具攻击性的海鸥发生冲突。
当我们开始在学校假期期间前往时，情况发生了变化。由于非学期间价格飙升，在康沃尔郡度假的成本大幅上涨，下行风险呈现出不同的面貌。
改变度假目的地是一回事，但如果这件事影响到你的居住和工作地，那就是另一回事了。
康沃尔郡拥有英国季节性最强的经济体之一。国家统计局（ONS）的数据显示，去年8月通过Airbnb等平台租赁的短期出租房的客夜数（游客人数乘以入住时长）大约是1月份的 10 倍。而对于季节性最弱的地区伦敦，去年8月与1月的差异为 84 %。
在许多方面，当地人已经适应了“emmeds”的涌入——这是康沃尔方言中对游客的称呼，源自一个表示“蚂蚁”的古英语单词。但对住房的影响已经变得如此糟糕，以至于西部地区（West Country）可能是英国房产市场最失调的地方。
也许最大的担忧是第二套房的影响。虽然没有完美的数据源可以确定这些房屋的总数，但可以通过议会税（council tax）数据来识别高度集中的区域。
同样地，也没有完美的方法来确定其对当地市场的影响，但显然这推高了价格。康沃尔郡议会一项稍显陈旧的分析表明，在存在第二套房所有权且缺乏负担得起住房的地方，这将“加剧负担能力问题”。
乍一看，在房价方面，当地人似乎听到了一些好消息。我追踪多年的一个图表显示了自金融危机前的峰值以来，不同地区的表现如何。它为我们目前处于住房市场周期的哪个阶段提供了一个有用的总结。
伦敦在崩盘后的恢复速度最快，尽管经历了十年的停滞，但在 2007. 以来增长最快的榜单中仍名列前茅。西南地区此前一直处于中游，但现在情况发生了变化。
自利率开始上升以来，西南地区的房价一直举步维艰，目前与约克郡和汉伯（Yorkshire and the Humber）并列倒数第二，仅高于东北地区。很明显，在过去几年中，某些因素破坏了西南地区的住房市场。
观察 2022, 利率飞涨以来的价格变动模式，可以看到西南地区内部明显的分歧。价格走势不一，在度假房和第二套房的热点地区，房价跌幅更大。在整个康沃尔郡，价格下跌了 6.5 %。
英格兰西南地区房价下跌是否真的能帮助当地买家？— 金融时报 earmag/Desenolive
由于这些下跌，整个西南地区的负担能力有所提高。国家统计局（ONS）的数据显示，康沃尔郡的房价收入比已从 2021 年疫情后“空间竞速”高峰期的 10.7 降至 2025 年的 8.3 —— 虽然仍然吃紧，但已有显著改善，且这种趋势可能一直持续到 2026 年。
待售房屋数量增幅最大的地区是度假热点地区
然而，很难确定房价下跌是否真的帮助了当地人，或者价格下跌是否集中在错误的地方和错误的房屋类型上。
来自Rightmove的数据表明，这些价格下跌可能无法帮助那些处于住房市场低端的人群。导致全国价格缓解的因素之一是市场上挂牌但未售出的房屋数量增加——尤其是在较高价位段。
Rightmove 的数据显示，过去五年中挂牌出售房屋增长最剧烈的地区集中在度假热门地。增幅最大的是托里奇（Torridge），挂牌量增长了 327 百分比。在整个康沃尔郡（Cornwall），库存增长了 234 百分比，不过在沿海地带房价较高的第二套房热门地区，这一增幅将更高。
不仅是房价的下跌，收入的增长也有助于降低房价收入比。
英国国家统计局（ONS）的数据显示，2025 年康沃尔郡基于居住地的平均收入比前一年高出 3.6 百分比。但在 £35,000 的水平上，这仍比英国平均水平低 10 百分比。此外，该数据是基于全职员工计算的。作为一个季节性就业市场，康沃尔郡拥有比例极高的兼职和自雇劳动者，其收入远低于该水平。居住在康沃尔郡的兼职员工平均收入仅为 £13,400。
诸如罗克（Rock）和圣莫斯（St Mawes）等高端第二套房市场，几十年来一直由伦敦及东南部创造的财富驱动。随着伦敦住房市场的停滞，第二套房的成本和税收增加，抵押贷款利率上升，这种财富流动随之萎缩。
这减少了买家数量，增加了未售房屋数量，并压低了高端房价。
然而，根据 Rightmove 报告，去年罗克的平均房价为 £1.39mn，圣莫斯的平均房价为 £1.92mn，这些市场无疑属于奢侈品市场，且供应量正在增加。但与伦敦的情况非常相似，我们现在市场上出现了大量昂贵的房屋，却没人买得起。这对寻求购买首套房的康沃尔当地人毫无帮助。
第二套房市场目前可能像冰淇淋一样冷冰冰，但随着我们应对破纪录的高温，在西南海岸海滩度假可能会变得更具吸引力。这可能会导致对第二套房需求的复苏。只需留意更高的税收，以及为海鸥准备的额外薯条即可。
尼尔·哈德逊（Neal Hudson）是一位住房市场分析师
金融时报 2016年7月25日 星期六
理财 | 5
您的疑问
您的疑问：我应该更换我的财务顾问吗？
Lucy Warwick-Ching
我和丈夫在结婚 50 多年后决定离婚。就像大多数夫妇一样，我们一直使用同一位财务顾问，但我的丈夫一直是主要的沟通对象。我曾有过成功的商业职业生涯，但后来为了抚养孩子停止了工作，由丈夫处理我们的财务。我担心我们的顾问偏向于我的丈夫，在离婚过程中不会为了我的利益而行动。我该如何确保自己不处于劣势？
WIM wealth management 的财富经理 Jenny Judd 表示，这种情况相对常见，在经历分居时仔细考虑你们共用的顾问是明智的。理清 30 多年的共有财务状况，应当以一种让你感到舒适的方式进行。
从根本上说，无论顾问与你丈夫之间是否有长期的关系，顾问都应始终保持公正，并在你们双方之间维持严格的保密协议。顾问们习惯于以公平且平衡的方式支持处于这种情况的夫妇。然而，还有其他因素需要考虑。
顾问关系应建立在信任之上。你需要感觉到你可以公开且诚实地讨论你的财务状况、你的顾虑以及你想实现的目标。如果出于任何原因，这种信任感被削弱，那么在为你的离婚后未来制定稳健且合适的财务计划时，可能很难进行必要的坦诚对话。
如果信任已经消失或你有所怀疑，建立一个你自己的顾问关系会很有帮助。我建议“面试”几家
“面试”几位顾问，寻找最适合你情况的人选 —— 金融时报/Heritage/Getty Images
公司和顾问，在方法、性格和专业知识方面寻找最合适的人选。不同的公司服务于不同类型的客户，服务水平、投资方法和费用也大不相同。
你可能会得出结论，认为目前使用的公司仍然合适，在这种情况下，简单的做法可以是转而由该公司内的另一位顾问服务，而你的丈夫则保留原有的顾问。一段全新的关系将允许对你的财务优先级、风险态度、收入需求和更广泛的生活计划进行全面的重新评估，而这些在分居后可能会截然不同。
消除由之前的财务安排所形成的先入之见，将减轻担忧的压力，让你能以更清晰和独立的心态处理财务问题。
资产的最终分配将由离婚协议决定。一旦达成一致，你现有的顾问和任何新顾问可以协同工作，以确保资产的平稳过渡。
最后，你的财务资产可能分布在多种账户中——例如养老金、个人储蓄账户 (Isas) 和通用投资组合。如果你需要产生收入，请仔细考虑如何以具有税收效率的方式从中提取资金，以维持你的生活方式。现金流建模可以让你在长期可持续的收入水平方面获得清晰的认知和信心。对你而言，首要任务是让你对自己的财务未来感到自信并能掌控其中。
本专栏中的观点仅用于一般信息目的，不应替代专业建议。金融时报有限公司及作者对因依赖相关回复而产生的任何直接或间接结果（包括任何损失）不承担责任，并在最大程度上免除责任。
在 FT.com/your-questions 寻找更多读者问题的答案
抢占竞争先机
用数据赋能于人
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了解 Statista 如何帮助您获得专业知识：
statista.com/site/business
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6 | 金融
金融时报 周六 2026年7月25日
封面故事
Emma Dunkley 撰文：为期六周的学校假期正成为家长们日益沉重的财务负担
路易丝（Louise）正深陷于她第一次经历学校暑假的焦虑之中。她与丈夫乔尼（Jonny）住在伦敦北部，他们为了让 5 岁的儿子奥斯卡（Oscar）参加几个不同的假期俱乐部，已经支付了约 £1,000。但这仅涵盖了六周假期中的一半时间。
“我和丈夫查看银行账户时在想：我们的钱都去哪儿了？然后我们想起来：我们预订了所有这些夏令营。”
昂贵的暑期夏令营费用，以及为了协调路易丝和乔尼使用各自年度带薪年假的时间而对时间表进行的反复调整，构成了一项巨大的财务和后勤负担。
“我们要去度假一周，但不是什么昂贵的旅行，”她说道，并指出育儿成本限制了他们的选择。“六周的假期时间很长，得想清楚谁来承担哪部分的育儿工作。我不希望奥斯卡每天都参加夏令营。所以这始终是在不断地权衡协调。”
路易丝并非孤例。英国的育儿成本在世界范围内是最昂贵的之列，且暑期护理的价格在近年来持续上涨。
根据儿童慈善机构 Coram 的数据，在英国，参加一个完整的六周暑期俱乐部的平均费用在过去一年中增长了 5 per cent，达到每名儿童 £1,145 —— 如果你住在英格兰东南部，这个价格约为 £1,360。而在伦敦内城，仅过去一年价格就上涨了 16 per cent。
即便如此，职场父母可能仍需额外安排，因为只有不到 6 成的俱乐部在上午 8 点至下午 6 点之间开放。
Coram 家庭与儿童护理负责人莉迪亚·霍奇斯（Lydia Hodges）表示，不仅是暑假期间，更广泛的育儿成本“几乎每年都在上涨，且几乎总是高于通货膨胀率”。
根据经合组织（OECD）提供的最新可用数据，截至 2025, 英国的育儿总成本占平均工资的 43 per cent 以上；而其 38 个成员国的平均水平为 21 per cent。虽然英国政府的资金补贴降低了这一成本，但净育儿成本仍占平均工资的 21 per cent，而经合组织的平均水平为 10 per cent。
那么，为什么英国的费用如此昂贵？而且，在涉及暑期护理时，为什么家庭感觉支付得更多，而获得的服务却更少？
对于经合组织的政策专家乔安娜·姆罗奇卡（Joanna Mroczka）来说，第一个问题的答案相对简单。“［英国］严重依赖私营育儿市场，这与许多其他经合组织国家不同，那些国家……”
为什么夏季儿童看护费用变得如此昂贵？
拥有广泛的公共供应。”她补充说，许多国家“随着家庭成员增多而增加支持，而英国对增加儿童的增量支持则不够慷慨”。
“历任政府不断增加监管和税收，以至于英格兰的儿童看护费用在发达国家中是最昂贵的之列，”智库政策研究中心（Centre for Policy Studies）研究总监卡尔·威廉姆斯（Karl Williams）表示。
“自世纪之交以来，极其严格的员工与儿童比例以及繁重的早期教育监管，一直在迫使儿童看护者倒闭，并推高了该行业其余部分的成本，”他补充道。例如，严格的比例意味着英格兰的一名幼儿园工作人员最多只能照顾三名两岁以下的幼儿。
威廉姆斯指出，由于人员成本占儿童看护成本的 70% 以上，这些“结构性压力”自 2025, 年起急剧增加，当时工党政府将雇主的国民保险费从 13.8% 提高到 15% 并降低了开始缴纳缴款的起征点。此后，21 岁及以上人士的最低工资已提高至每小时 £12.71。
“儿童看护提供者最近的支出大幅增加，”霍奇斯（Hodges）说。“儿童看护通常属于低薪行业，因此任何最低工资的上涨都会影响到大量劳动力。”
研究机构财政研究 institute（Institute for Fiscal Studies）副主任克里斯蒂娜·法夸森（Christine Farquharson）表示，英国相对较低的入学年龄（四岁）也产生影响。这意味着儿童看护机构无法利用大龄儿童（他们对看护人员与儿童的比例要求较低）的资金，来抵消幼儿看护的高昂成本——而这种做法在其他国家很常见。
政府的资金支持缓解了部分成本，但最近的变革显然并非万灵药。
政府从 2024. 起开始为两岁及以上儿童提供 15 小时免费服务。从 2025 年 9 月起，该计划扩大到为 9 个月至 5 岁的所有儿童提供 30 小时免费服务。然而，大部分免费小时数仅适用于年调整后净收入低于 £100,000. 的父母。
“最大的误解之一是，认为收入超过 £100,000, 就意味着能负担得起儿童看护，”财务教练菲利·庞尼亚（Philly Ponniah）说。“失去资助的看护小时数以及个人免税额意味着他们受到了双重打击。对于收入超过 £100,000 的家庭来说，儿童看护可能是他们每月最大的账单之一。”
此外，根据慈善机构国家日托协会（NDNA）的数据， 10 分之 9 的幼儿园报告称，政府为三岁和四岁儿童提供的资助率无法覆盖其成本，而超过一半的幼儿园表示，针对两岁儿童的资助同样不足。对于三至四岁儿童，平均每小时每名儿童的缺口为 £2.61。
英国儿童看护成本高昂
净儿童看护成本（占平均收入的 %）
金融时报 周六 2026 年 7 月 25
理财 | 7
封面故事
Rosie Dunbar
以及针对两岁儿童每小时 £1.79 的费用。NDNA 政策与传播总监乔纳森·布罗德伯里（Jonathan Broadbery）表示：“政府资金支付一小时的托儿费用，但不包括餐食和小吃。”
他说，因此，许多托儿所和提供者提高了其名义费用。
“大多数托儿所都试图将费用涨幅控制在最低水平，给家长的平均涨幅约为 6%。然而，这次费用上涨将冲击那些需要额外时长但因低收入而难以负担的人，以及那些没有资格获得任何政府资助时长的高收入者。”
IFS 的法夸森（Farquharson）表示，情况较为复杂：政府为最年幼儿童提供的资金“显著高于”提供者在私人市场上的收费价格，而三岁和四岁儿童的费率则略低于市场价。她说：“无论年龄大小，提供者收取的费用相对统一，但这并不能精确反映潜在的成本。”
尽管如此，她指出，失去免费托儿服务的高收入者面临着“巨大的”成本，尤其是在伦敦和东南部。“你很容易在年薪 £140,000 的情况下，境况反而比年薪 £99,000 的人更糟。这是该系统设计中的一个真实问题……从税收收入的角度来看，这些人非常重要，因此这是一个更广泛的公共财政问题。”
Coram 的霍奇斯（Hodges）表示，家长在暑假期间感受到的压力最深，原因有两点。
她说：“夏季成本更高的主因在于，这些成本代表了更多的时长、天数和周数。即使每小时的成本与其他学校假期——例如期中假或复活节假期——或者课后俱乐部的费用相同，但由于在职家长需要覆盖的时间量更大，总额会更高。”
但复杂因素也可能影响度假营在保持盈利的同时能提供的每日护理时长。例如，人员成本可能成为一个问题，因为提供者每次假期到来时都需要寻找新的助手。许多提供的活动（从工艺美术到射箭和水上运动）还需要专业设备、保险和经过完整培训的员工。
对于有残疾孩子的家长来说，暑假期间的托儿成本更加昂贵。来自伦敦西南部的 44 岁女性梅丽莎（Melissa）和 42 岁的丈夫安德鲁（Andrew），是六岁双胞胎弗兰基（Frankie）和奥蒂斯（Otis）以及两岁雷米（Remy）的父母。
梅丽莎解释说，弗兰基患有脑瘫，全天使用轮椅；与非残疾的双胞胎相比，他参加度假俱乐部的难度更大，成本也更高。她说：“当涉及到为残疾儿童寻找俱乐部时，这完全是一个全新的压力层和困难层。”
“弗兰基接受一对一的成人护理，因此在学期期间，每天都有一名专属成年人帮助他行动。这运行得很好，但到了学校假期，这种支持就消失了。什么都没有。”
对于奥蒂斯来说，度假俱乐部的费用每天约 £50，但弗兰基在有成人支持的情况下参加俱乐部的价格每天约 £178，且前提是他的父母能找到一个符合他兴趣的合适俱乐部。梅丽莎补充道：“这压力很大，就像一个巨大的拼图游戏。”
单亲家长在学校暑假期间也感受到了压力。单亲家长慈善机构 Gingerbread 的首席执行官阿比盖尔·伍德（Abigail Wood）表示：“如果你只有一份年度假期和一份收入，这种情况尤其残酷。我们看到人们在拼命尝试让事情运转，在勉力维持……有时请无薪假反而效果更好。”
那么解决方案是什么（如果存在的话）？对于负担得起的家庭，雇佣一名保姆可能会减轻压力。
但现在雇佣保姆的成本变得更高了。由于对育儿需求的增加，特别是去年更多伦敦家庭迁出的周边郡（home counties），保姆的薪资随之水涨船高。
“在伦敦和周边郡雇佣一名保姆现在的费用每小时高达 £20 以上，因为对于经验丰富的保姆这一有限群体，需求非常旺盛，”薪酬服务提供商 Nannytax 的保姆就业专家 Kirsty Wild 表示。
“对于通勤时间长或需要轮班工作的家长来说，长工作时间（全职保姆每周工作 50 小时是常态）以及灵活性是无可替代的。”
根据 Nannytax 的数据，在周边郡和伦敦外围地区的家庭，雇佣一名每周工作 50 小时的住家外保姆，预计每年需支付 £58,864 —— 与前一年相比增加了超过 £12,000。
保姆中介特许经营机构 Harmony at Home 的创始人兼董事 Frankie Gray 表示：“我们看到夏季对育儿的需求大幅增加。那些只需简单预订一名临时看护的应用程序有其适用场景……但我们发现人们想要的是拥有数十年经验的合格专业人士，而市场最终将这一价值体现在了定价中。”
互惠生（Au pairs）通常要实惠得多，且与家庭同住。他们仍有权获得国家最低工资。
对于许多无法负担保姆或互惠生的家庭，CPS 的 Williams 认为，放宽监管才是关键，而非进一步增加政府补贴，因为后者可能会进一步推高价格。显而易见，放宽此类儿童保护措施可能难以被人们接受。
与此同时，英国的家长们仍在与高昂的成本作斗争。正如 Louise 所说：“当你孩子离开托儿所进入学校时，你以为支出会下降，然后你才意识到假期营地、课后托管（wraparound care）的费用……这并没有带来多少缓解。”
英国对大家庭的支持力度低于其他地区
净托儿成本（占平均收入的百分比）
来源：OECD
呈现方
协作方
全球财富管理峰会
捕捉新一代全球流动客户
2026年11月4–5日 | 线下与数字化 | 伦敦地标酒店 (The Landmark, London)
聆听行业领先演讲者的见解
Luis Bermúdez
财富部门主管
桑坦德美国银行 (Santander US)，以及
总裁兼首席执行官
桑坦德国际银行 (Banco Santander International)
Shilpi Chowdhary
集团首席执行官
Lighthouse Canton
Mark Haefele
首席投资官
瑞银全球财富管理 (UBS Global Wealth Management)
Grace Peters
全球投资策略联合主管
摩根大通私人银行 (JP Morgan Private Bank)
今年11月在伦敦与他们相聚：
wealthmanagement.pwmnet.com
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OCORIAN
首席赞助商
关联赞助商
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金融时报 周六 2026年7月25日
Money | 9
我的理财生活
Simon Beckerman，Depop 创始人
“你永远无法摆脱曾经身无分文的创伤”
回溯到 2011. 年，Simon Beckerman 身无分文，且年龄接近 40, 岁。当时他正竭力挽救他在米兰创办的独立文化杂志。互联网正在摧毁他那小规模的印刷出版物，而他的联合创始人（也是他的兄弟）已决定退出。但这段动荡期让 Beckerman 能够近距离观察手机对时尚的影响，促使他创办了二手服装销售应用 Depop。
在接下来的十年里，Depop 吸引了数百万用户，并在 2021 年被 Etsy 以 £1.1bn 的价格收购，使 Beckerman 成为欧洲最著名的创始人之一。据报道，仅通过此次退出，他便赚到了 £45mn，这还不包括二级市场交易。
这位意大利人曾多次谈到他在创建 Depop 过程中面临的严重倦怠。他在公司成立最初几年内便辞去了首席执行官一职，并休了 £2-month 的长假。但在 2020, 年末，他联合创办了 Delli，一个独立食品生产商的交易平台。由于最初为这家初创公司自筹资金，他目前仍持有约 40 股份。
现年 52, 岁的 Beckerman 正在将接力棒交给他的联合创始人，因为他正准备第一次成为一名父亲。采访人：Isabel Woodford
你的第一份工作是什么？
我的第一笔收入来自担任 DJ。我会在米兰的高尔夫俱乐部接 18 岁生日派对的活，周日下午还在一家非常著名的俱乐部打碟。那里挤满了周六晚上进不去的青少年。从 1989 年起，我做了五年这个工作。
我也做过其他类的工作——包括在一家快递公司当踏板车配送员。后来我父亲帮我找了一份平面设计师的“正经”工作。我做了几年，但后来辞职去学习，因为我想成为一名工业设计师。
后来我从大学辍学了；财务压力太大了。我父亲当时失去了工作，我父母难以支付房租。我和我兄弟在家里创办了一家平面设计工作室。随后互联网出现了，于是我们开始制作网站。因为当时没人知道怎么做，所以我们能收很高的费用。
我们还创办了一本杂志——Pig [People in Groove]——专注于地下创意和时尚。最后我们全家都在为它工作；我母亲、我兄弟，所有人。
我们从未赚到大钱——勉强维持生存。直到 Depop 出现前，我一直处于半破产状态。我们还在赡养父母。赚到的任何钱都重新投入到杂志中。至少我们能拿到免费赠品…… 我 10 年没买过衣服了。我们还创办了一个太阳镜品牌，后来由我兄弟接手。
Simon Beckerman：“在 Depop 之前，我一直处于半破产状态” – Charlie Bobby/FT
您在 2011. 创立了 Depop。那是怎么回事？
iPhone 在几年前发布。我想：好，每个人都会使用手机；我们需要为手机打造一份杂志。最初我尝试设计一个电子商务网站，销售我们在杂志中推荐的商品。我设计了一些很酷的功能，带有社交属性——你可以关注他人，查看他们正在出售什么，还可以与他们聊天。
但很难让品牌方提供商品给我们销售。就在那时，我意识到这可以变成一个人们之间互卖商品的数字化市场——特别是古着服装市场。
我们在杂志社工作的所有造型师都会去逛跳蚤市场，购买古着，因此我们知道古着在互联网的推动下将会变得流行。
那是凌晨 1 点或 2 点。我给我现在的妻子打电话说：“我们要发财了。三年内，我们将赚到大约 €5mn。” 我想，有了这笔钱我们就可以退休了。
金钱是一个重要的驱动力吗？
它是最优先考虑的事之一，特别是在经历了多年没钱，并看到我的父母因为付不起开车送我们去 [高中] 的油费而哭泣之后。
它实现了。好，虽然花的时间比三年长 . . . 但金额超过了五百万！
现在很多人对钱有心理障碍。我不认为金钱本身是邪恶的。尽管我认为我们应该教授如何花钱，而不是如何赚钱。
这些年来您是如何积累财富的？
我在 Depop 给自己定的第一份薪水是每月 €1,350。然后我们在 2012, 将公司迁至伦敦，我的年薪变成了 £40,000。我从未拥有过这么多钱，于是我开始每月存一部分钱。
随后我在 2017. 进行了第一次二级销售 [出售部分股份]。那时我还不是百万富翁，但我终于有钱能稍微喘口气了。
当我看到银行账户时，我觉得那比看到退出资金时更令人激动。那是我第一次看到这么多钱。看着它，我就在那里大口地喘气。
在那之后，在公司估值低得多的时候，我又进行了两次二级销售。第二次我拿到了大约 £700,000。第三次二级销售是在退出到 Etsy 前的一年——其价值比退出时低了八到九倍。我本该再等等的！
我在二级销售中卖掉了一半股份，然后在退出时卖掉了另一半。我赚到了足以让自己快乐的钱。如果我没有提前出售，我能赚到双倍。
退出对您产生了怎样的影响？
这很奇怪，因为当你成为一名成功的企业家时，人们会忘记你一生在 [经济上] 经历的挣扎。有些朋友的态度发生了轻微变化。其中一人告诉我，我们的友谊将不再像以前那样。我说：“你在说什么？”
即便现在，当我必须进行一笔带有三个零的银行转账时，仍然压力很大。你永远无法消除那种创伤。甚至在退出两三年后，我仍然会购买经济舱机票，只有在有优惠时才会升级到商务舱。
您决定投资于最新的初创公司 Delli。在 52 岁的时候，是什么在激励着您？
你一生中都会在想，我希望我有足够的钱，这样我就不必再工作了。你想象着，噢，我会醒来，然后无所事事。但我的内心深处有些东西无法让我那样做。我喜欢创造，我喜欢有问题需要去解决。
将所有这些资金投入到 Delli 是很困难的，但我确实深信不疑。我想让它成功，而且我知道投入这么多资金会激励我。我现在已经完全退出了日常运营。我正成为一名父亲——但我仍然非常忙于此项目。
我还向基金投资了资金：HV Capital 和 Balderton。我还通过一个朋友的 [Spac] 基金支持了几家其他公司，例如 Stripe——在 IPO 之前。而且我在 SpaceX 的投资金额几乎与我投入 Delli 的金额相当。
我还支持了十几个小型初创公司。我对自己说，也许有一天我会成为一名投资者或开设一只基金。它们目前还没有盈利。其中四个已经失败了。
出生地：意大利米兰，1974
教育经历：米兰国际学校；米兰艺术高中 (Liceo Artistico)
1990s – 米兰理工大学 (University of Politecnico Milano)，工业设计系 [辍学]
职业生涯：1994-1998：自由平面设计师
1998：与弟弟 Daniel 共同创办了平面设计工作室 B-Arts (Beckerman Arts)
1999：与弟弟共同创办了 Pig 杂志 (People in Groove)
2007：与弟弟共同创办了 Retrosuperfuture 太阳镜品牌
2011：创立了 Depop，该公司于 2021 年被 Etsy 收购
2014：卸任 Depop 首席执行官，但继续全职担任创意总监。最终转为仅在董事会任职
2020：与 Marie Petrovicka 共同创办 Delli
居住地：与妻子 Chiara 住在伦敦
10 | Money
金融时报 周六 2026 年 7 月 25 日
股票挑选者 (The Stockpickers)
我们的专家讨论本周应买入、卖出或持有哪些公司
Greencore 是几家热衷于开发高端和美食系列的食品制造商之一 - 金融时报管理部门
投资者青睐 Greencore-Bakkavor 的组合配方
食品制造充满挑战。随着消费者口味变得更加大胆且注重健康，生产者必须跟上口味变化的步伐，同时还要满足大型客户（如超市）对开发新产品以激发顾客胃口的需求。
食品安全法规极其复杂，而原材料通货膨胀、员工成本上升以及能源账单增加，更是影响盈利能力的进一步障碍。食品与饮料联合会（Food and Drink Federation）表示，各项成本全面上涨，在供应链中断的驱动下，运输、包装和清洁化学品的成本也在急剧上升。
预算紧缩的消费者对价格上涨的容忍度有限，这意味着生产者必须寻找其他方法来应对成本压力。
专注于肉类供应的 Cranswick 开发了一种“从农场到餐桌”的方法，加强了对供应链的控制，并创建了高端和美食系列产品，其目标客群对高价的抵触心理较轻。
食品高端化的趋势应将使诸如从酱料到甜点业务的 Premier Foods 以及冷藏便捷食品集团 Greencore 等生产者受益，因为消费者在削减外出就餐和外卖开支的同时，转而选择奢侈系列产品。但今年 Greencore 增长的核心驱动力是对竞争对手 Bakkavor 的收购。
此举旨在将两个互补的新鲜食品组合——Greencore 的三明治和便携食品，以及 Bakkavor 的沙拉、寿司、甜点和预制餐——合并在一起，从而创建一个领先的食品集团，并从更强的采购与议价能力以及成本协同效应中获益。
机构经纪商 Shore Capital 表示，合并后的集团在最初几个月里“节奏未乱”。此次合并扩大了公司的产品范围，强化了其在便捷食品市场的地位及其与英国超市的关系，并推动了产品创新和成本节约。这笔交易给投资者留下了非常愉悦的印象。
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食品产品
Greencore (GNC)
预计成本节约 £15mn
在 5 月份公布半年报后遭遇市场负面反应，Greencore 最近的交易更新令投资者感到振奋。
这家负责英国许多超市“套餐 (meal deals)”的三明治制造商表示，目前预计 2026 年的调整后营业利润将“高于市场预期”的 £234mn 至 £242mn。
Greencore 正在整合对竞争对手 Bakkavor 的收购，该公司于 1 月以 £1.5bn 的价格将其买下。截至 6 月 26 日的 13 周内，全公司总销售额增长 3.2%，达到 £1.02bn。
管理层重申，预计今年将通过此次收购实现 £15mn 的成本节约，并有望在 2029 年 1 月前通过该交易实现至少 £80mn 的节约。
“在我们看来，Greencore 的股票在 2026 年春季受到了过于严苛的对待，这使得这次 [第三季度] 更新成为买入一个仍有增长空间的投资逻辑的绝佳机会，”Shore Capital 的分析师 Clive Black 表示，我们也对此表示认同。Erin Withey
工业类
Gateley (GTLY)
利润率依然承压
Gateley 的股价在过去一年中腰斩，但该专业服务集团的初步业绩得到了市场的良好回应。
该集团实现了连续 11 年的营收增长，但鉴于董事会将末次股息从上次的 6.2p 每股削减至 2p 每股，股价为何上涨并不立即明显。
6.2% 的有机营收增长得到了 Groom Wilkes & Wright 首次贡献的补充。这家总部位于赫特福德郡的律师事务所于 2025 年 9 月被收购。
FactSet 的共识预期每股收益为 4.7p，到 2028 年全年将升至 7.05p。调整后营业利润增长 2.7% 至 £21.5mn，尽管相关利润率下降了 60 个基点至 11.1% —— 远低于 13.5% 的目标率。尽管顶线（营收）稳步改善，但利润率的收紧压低了估值。Gateley 的交易价格为预测收益的 13 倍，隐含的股息收益率仍然很高，但其前景似乎并不支持一个反弹的故事。Mark Robinson
工业类
Kier (KIE)
集团订单簿状态健康
英国公共部门和基础设施承包商尚未受到政治和经济不确定性的影响。Kier 集团是最新发布乐观交易声明的公司。
Kier 表示，截至 2026 年 6 月止年度的营收和利润将处于预期的高端。这意味着在 £4.3bn 的营收基础上，税前利润将达到 £143mn。该公司称，2027 年全年的预期营收已有 90% 得到保障。
此外，还有进一步证据表明 Kier 正在清理其资产负债表。该公司过去一年的平均月末净现金为 £11mn，较前一年的平均月末净债务 £49mn 有显著改善。它预计在 9 月 15 日公布的全年业绩中报告净现金为 £232mn。
该公司的交易价格为分析师 2027 年收益预测的 10 倍 —— 较其大型承包商同行至少折价 30%。从历史上看，Kier 的资产负债表一直制约其发展，但随着其现金指标持续改善，这一折价应当会缩小。Hugh Moorhead
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| Janus Henderson Investors | (UK) | | | | | | | | | | | | | | | | | | | | | | | | | PS Box 9023, Chelmsford CM99 2W9 0330 123
1815 | | | | | | | | | | | | | | | | | | | | | | | | | | www.janushenderson.com | | | | | | | | | | | | | | | | | | | | | | | | | | | 授权投资资金 (Authorized Inv Funds) | | | | | | | | | | | | | | | | | | | | | | | | | | | Nutshell Asset Management Ltd, Ivabridge House, 1-5 Adam Street, London WC2N
6LE | | | | | | | | | | | | | | | | | | | | | | | | | | | www.nutshellam.com | | | | | | | | | | | | | | | | | | | | | | | | | | | 授权投资资金 (Authorized Inv Funds) | | | | | | | | | | | | | | | | | | | | | | | | | | | Nutshell Growth Fund Dip Ind
Fund | £ | 178.09 | - | 1.30 | - | 1.30 | 0.00 | | | | | | | | | | | | | | | | | | | | OASIS | | | | | | | | | | | | | | | | | | | | | | | | | | | OASIS | | | | | | | | | | | | | | | | | | | | | | | | | | | OASIS | | | | | | | | | | | | | | | | | |
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金融时报 (Financial Times) 2026年7月25日 星期六
货币 (Money)
15
# 金融时报基金数据指南
本页面所引用的基金价格由基金运营商、基金经理和基金管理机构提供。本页面发布的基金详情（包括价格）仅供参考，且仅应作为指南使用。金融时报有限公司（The Financial Times Limited）不对其准确性或完整性作任何陈述，在做出投资决策时，不应依赖这些数据。在某些司法管辖区，法律可能会限制销售本页所列基金的权益，且在出版物流通的所有司法管辖区内，并非所有人员都能获得这些基金。如有疑问，请寻求适当的专业建议。数据由 ICE 采集。本期发布的基金价格及附加信息也可在金融时报网站 www.ft.com/funds 上获取。本页面发布的基金按基金管理公司分组。除非另有说明，价格均以原币计价。如显示费用，则为之前引用数值的费用（并非所有基金每日更新价格）。标注为 B 且无前缀的指美元。周二至周六（纸质版）的收益百分比已计入购买费用。某些较旧的保险挂钩计划的价格在销售时可能需缴纳资本利得税。
OEIC：开放式投资公司。类似于单位信托，但采用公司结构而非信托结构。发行不同的股份类别以反映不同的货币、收费结构或持有者类型。
Selling price（卖出价）：也称为买入价（bid price）。投资者卖出单位信托份额的价格。
Buying price（买入价）：也称为要约价（offer price）。投资者买入单位信托份额的价格。包含经理的初始费用。
Single price（单价）：基于底层投资的中值市场估值。OEIC 股份和单价单位信托份额的买入价与卖出价相同。处理经理的定期资本费用。
24 和 36 个月：使用该期间的总收益（或损失）计算出的 24 和 36 个月年化业绩数据。业绩计算公式已根据参考期间内的收益分配进行了调整。
Yield（收益率）：使用基金的预计年收益除以最新的可用净资产值计算得出。
报纸上出现的价格是经理/运营商提供的最新价格。此广告服务的费用基于发布的行数和基金分类。欲了解详情，请发送电子邮件至 data@ft.com 或致电 +44 (0)20 7875 3132。其他查询请联系 newspapers@ice.com
# 数据提供方
市场与数据在此汇聚。
www.ice.com
透明度。
价格发现。
创新。
ice.com
市场与数据在此汇聚
ice
---
16 | Money
金融时报 2026 年 7 月 25 日 星期六
观点
# 安迪·伯纳姆何时将应对“工作成本”危机？
针对生活成本的措施忽略了迫在眉睫的税收问题，而劳动者正承受压力
**Claer Barrett**
Serious Money
英国新任首相的第一个星期非常忙碌，他匆忙发布了一系列公告以帮助更快地缓解生活成本危机，其速度之快，甚至让批评者还没来得及询问谁将通过纳税来为此买单。
值得注意的是，最引人注目的是他看似随意的一番话，即梅克菲尔德（Makerfield）选民对 £12,570 个人免税额度冻结的不满“已深深刻在我的脑海中”。
我对此并不感到惊讶。随着“工作成本危机”让人们在亟需改革的税收制度中被榨干，英国每个邮政编码区域都回荡着同样的抱怨。
安迪·伯纳姆 可能会后悔他的这番言论。尽管他随后极力否认，但这已经产生了一种预期，即该问题将在秋季预算案中得到审视。
随着年份的增长，针对劳动者工资的“隐形税”正变得越来越明显——而且它筹集了巨额资金。根据预算责任办公室（OBR）的估计，在保持主要税率不变的同时，通过财政拖累（fiscal drag）使数百万计的人缴纳更多所得税，到 2030-31, 年将筹集 £55bn。
根据投资网站 AJ Bell 的分析，个人免税额每增加 £100，每年将耗资约 £1bn。但提高这一阈值不仅能帮助低收入者和养老金领取者，还将为英国所有收入最高至 £100,000 的人提供少量补贴。
而对于《金融时报》的读者来说，收入阶梯更高层的冻结阈值可能更令人困扰。任何对个人免税额的提高，都会扩大收入超过 £100,000 后的 60% “税收陷阱”区间，在该区间内，免税额会被逐渐削减（收入每增加 £2，个人免税额就减少 £1）。
再加上国民保险和学生贷款还款，这
第一天：安迪·伯纳姆 在进入唐宁街 10 号前向媒体发表讲话 —— Chris Ranthi/McBourne
将税率提高到了 71% —— 这一边际税率甚至高于那些年入百万的人！目前，当你的收入达到 £125,140 时，税率会回落到 45%。但个人免税额越高，这个高税率区间就越宽，对工资单和经济的扭曲效应也将随之增加。
为了在每英镑中尽可能多地保留 29 便士，劳动者们正在拒绝加班、拒绝晋升，或者将资金大量投入到可以递延纳税的养老金中。税收制度与福利制度的互动是另一个问题，对于申请育儿补贴的高收入父母以及申请护理津贴的低收入人群来说，都存在巨大的“悬崖效应”。在两种情况下，少工作反而可能更有利可图，这简直不可理喻。
那么，伯纳姆可能会针对这一切采取什么行动，如果有的话？我最好的猜测是：什么也不做。时间并不在他这一边。我怀疑一位未经选举的首相是否有政治意愿去改革这种日益荒唐的所得税征收方式——尽管如果他这么做了，我会为他鼓掌。
有人认为，他应该削减 25 岁以下劳动者的雇主国民保险缴款，以增加就业机会并帮助英国 100 万名“NEET”族（即不在学业、就业或培训中的年轻人）。
许多人担心他可能会恢复 50p 的最高所得税税率，尽管这将违反竞选承诺，且已被伯纳姆的团队淡化。如果他这么做，财政拖累将加剧其影响。
更激进的选择包括征收土地价值税、降低即将出台的“豪宅税”阈值或改革遗产税。然而，本周出现了一个意外的干预：名为“爱国百万富翁”（Patriotic Millionaires）的组织——一个由 100 多名常驻英国的百万富翁组成的团体（包括“人民经济学家”加里·史蒂文森）——呼吁新任首相和财政大臣应将重点转向对财富和资产征税。
“我们希望你们向我们征税。我们负担得起。我们所指的不是提高那些每天起身工作以获取收入的人的税率，而是针对那些收入源自其持有财富的最富富裕人群，”
他们在的一封公开信中如此表示，信中呼吁对 £10mn 以上的资产征收 2 per cent 的税，并将资本利得税与所得税统一。他们认为这每年可以增加 £36bn 的收入，但税务专家认为这一预期过于乐观。
蕾切尔·里夫斯（Rachel Reeves）部分缩小了资本利得税与所得税之间的差距，但将两者统一不仅会影响百万富翁，还会影响财富相对较低的企业主、房东和投资者。此外，如果 50p 的税率回归，将为高收入者创造一个新的 50 per cent 的资本利得税率。
“如果资本利得税与所得税统一为 50 per cent，这将显著促使企业家离开英国，并阻碍国际人才迁入这里，”会计师事务所 Blick Rothenberg 的首席执行官尼梅什·沙（Nimesh Shah）警告道。
解决数十年糟糕税务政策的需求日益紧迫，但仓促改革的后果意味着，无论伯纳姆（Burnham）选择哪条道路，危险都潜伏其中。
Claer Barrett 是金融时报 (FT) 的消费者编辑；claer.barrett@ft.com；Instagram @ClaerB
# 银行家 (THE BANKER)
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---
星期六，7月25日 / 星期日，7月26日 2020年
房地产 | 室内设计 | 建筑 | 花园
# 居家与生活 (House & Home)
FTWeekend
感受热浪：国民信托 (National Trust) 的希拉·达斯 (Sheila Das) 谈干旱季节的花园 —— 第 8 页
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## 纽约-伦敦“临时寓所”是否已成过去式？
纽约市针对第二套房的新税种正引发人们的重新思考。在城市中拥有一处居所是否依然值得？这是伦敦的房产持有者早已在思考的问题。作者：Hugo Cox
纽约市所谓的“临时寓所税”（pied-à-terre tax）于 7 月 1 日起正式生效——距离州长提出该建议不到三个月。约翰·戈梅斯（John Gomes）正准备应对他的第二次房屋估值。“这套房的售价将达到 $50m，月租金可能在 $125,000 左右，”这位房产经纪人在一座 24 层的市中心建筑中估算道。在他 25 年的职业生涯中，他与合伙人共同完成了价值 $10m 的高价值住宅销售。谈到在城市中拥有第二套房的成本时，他说：“这简直失去了控制。”“服务费、[购买]税，现在又是这个。”目前，他正忙得不可开交。
据希望该税项能筹集 $100m 以填补城市预算缺口并资助公共服务。该税项初步采用城市的低估值衡量标准，针对价值在 $10m 以上的第二套房，按阶梯税率征收；经纪人估计，一套 $10m 的公寓，业主每年的税单将在 $40,000 到 $100,000 之间，而一套 $10m 的住宅则升至 $100,000 到 $200,000。由业主、家庭成员或租客作为主要住所使用的房产可获得豁免。
从上东区的豪华轿车聚集地，到 17 街“亿万富翁之行”（Billionaires' Row）的玻璃房，再到西村修复后的联排别墅及其精致的露台厨房和景观花园，第二套房的业主们正以全新的眼光审视他们的纽约房产：是持有、出售还是放弃？
在伦敦，情况如出一辙。对于购房代理人威廉·泰勒赖特（William Telleright）来说，高价值临时寓所的询盘正变得极其罕见。他说，即使在过去几个月里出现了这类需求，通常也很快就作罢了。今年春天，他接触了一位德克萨斯州的企业家，对方在寻找一座欧洲城市，以便在那里启动他的第 4 个创业项目——并在此期间居住。泰勒赖特很快找到了目标。“在贝尔格雷夫（Belgrave）有一套完美的公寓，”他认为其价格为 £3m。这次进展很快——这位德州商人停留了 30 小时，随后在波特菲尔德（Portfield）登上了他的私人飞机，似乎很满意。但在与会计进行了极简短的讨论后，他给泰勒赖特打电话说他改变了主意。“让他却步的是 19 per cent 的印花税。2018, 年他最后一次在这里买房时，支付的是 5 per cent。”他深受打击。他说：“他们就是不想要我在这里，”泰勒赖特解释道。
纽约的临时寓所业主和伦敦的联排别墅业主可能都在失去吸引力
对于特定阶层的全球化富豪来说，在纽约或伦敦拥有一处居所曾是房产投资组合中的标配。但在伦敦的核心地段，除了印花税的购房成本外，曾经的房价上涨已转为持续下跌——根据 Sirells 的数据，自 2014, 年起已下跌 25 per cent。根据 Knight Frank 的数据，£1.5m 以上住宅的销售额从 2013 到 2018 年的规模，下降到去年的 163 套。服务费也在大幅上涨，纽约的合作公寓（co-op）在去年增长了 8 per cent；而伦敦的公寓服务费在十年间增长了 79 per cent。
越来越多地，那些认为“纽约-伦敦”临时寓所是不可或缺的人开始问：它们还值得持有吗？那么哪个城市是更好的替代方案？
尽管纽约近期出现了大量的估值活动，但代理人报告称，买家和卖家在采取实际行动方面都持观望态度。原因之一是对房屋税单缺乏清晰的预期：经纪人表示，该市陈旧的评估衡量标准意味着一些价值低于 $10m 的房屋可能会被征税，而一些价值高于 $10m 的房屋可能反而不会。
“我告诉客户，等到你知道自己要支付多少钱之后再决定，”在市中心从事房屋买卖超过 25 年的维基·巴伦（Vicky Barron）说道。
“对于那些考虑购买临时寓所（pied-à-terre）的人来说，对许多人而言，现在租房是更明智的选择，”纽约 Compass 家族办公室部门全球主管 Cindy Schatz 表示。她指出，在税收公布后的 5 周内，一半原本考虑购买临时寓所的客户已转向租房搜索，而另一半则对更高的持有成本不敏感。“他们只是想要他们想要的。”但持观望态度可能意味着未来能以更低的价格买到同一套房子。“税收可能会改变行为——我们很可能会看到销售价格下降，以抵消持有成本（由买家承担），”美国 Compass 首席经济学家 Mike Simmons 说道。
Barron 预测，相当数量的临时寓所业主将会出售——“尤其是那些拥有 10m 到 15m 范围内房产的老年业主，他们每年仅使用 30 天，而他们的财务顾问现在告诉他们这样做已毫无意义。”新税进一步增加了高价值住宅的持有成本，而自 2012 年以来，这类住宅一直承受着高抵押贷款率和其他利率的压力。根据莱坊（Knight Frank）的数据，纽约顶级房产的平均价格在过去三年中下降了 5%。Gomes 表示，定价 10m 美元以上的住宅面临的下行压力“现在已不可避免”——10m 到 15m 档位的住宅将变得更具吸引力。
但对于业主来说，将房产出租具有说服力。根据纽约房地产研究公司 Miller Samuel 的数据，价值排名前 10% 的房产，其城市租金在 1 月份增长了 16%，而整个市场的增长率为 6%。
> 在税收公布后的几周内，一半的潜在买家已转向租房搜索
Compass 要求在 5 月税收确认后，曼哈顿每月租金超过 $25,000 的租赁需求份额增加了 10%。接亲属入住是另一种避税方式。Schatz 的两名客户已说服年迈的父母从佛罗里达州的家中搬进纽约的空置公寓；另一些客户则让最近毕业的子女搬进来——她预计这种趋势将更加普遍。“他们不再是在 Murray Hill 和室友合租，而是希望在[向下]建筑中穿梭并俯瞰[中央公园]，”她地道地描述道。
纽约的房主可以从伦敦寻找高端租赁趋势的潜在启示。根据 Sirells 的数据，去年年底，伦敦有 600 套以上的 45m 以上新建住宅在售。但许多地区的 Demand 依然低迷，在 Knightsbridge，超过 40% 的房产被重新命名，超过 60% 的 30 套房产如此。
相比之下，需求增长带动伦敦顶级租金在截至 6 月的一年内攀升 1.6%，根据 Sirells 的数据；而根据莱坊的数据，超顶级分支——即每周租金超过 £3,000 的房产——去年增长了 17%。
伦敦买房与租赁代理公司 Mark Brick 的 Camilla Dell 指出，在替代现有新项目的外国收入与收益（FIG）制度下，四年的税收优惠降低了许多国际买家的购买吸引力。“如果他们持有创新签证或处于 FIG 制度下，通常计算结果……”
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致那些深知心之所向，但尚未邂逅理想之家的寻房者。
Strutt & Parker
土地与房产。始于 1885 年。
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FY 周末版
2026 年 6 月 25 日/26 日
房屋与居家
# 当家用电器之间开始私语时，我们该怎么办？
格伦·迪克森 (Glenn Dixon)
观点
我最喜欢的吸尘器会跟我说话。它会执行清洁任务，偶尔会停下来调整一下方向，然后才出发前往房间。
它会避开楼梯，就像对待悬崖边缘一样；虽然它有时会撞到家具，但它在履行职责时从不抱怨。我称它为“家”。它是对未来的一瞥。但令我不安的并非结局，而是这种社群关系。
很快，我们的厨房和家中将充斥着不断升级的机器，这会让目前的智能家居显得极其简陋。冰箱将常规性地盘点货架上的所有物品。当我们缺乏黄油和咖啡时，它会提醒我们，并在提示后根据现有食材量身定制食谱。它们将订购杂货，最终预计会由配送员送达，或许会按下前门铃，然后在门口放下的一瓶牛奶。
“如果你烤糊了面包，烤面包机将提醒冰箱你需要另一片面包”
新型烤箱已经能够记住烹饪习惯，更重要的是，记住哪些设置最有效。你昨天随手准备的食材需要在 1900 度下烹饪。它会为你设定，而不是 1750 度，并加压 20 分钟 24 秒。
但很快，这些机器将彼此对话。烤面包机会体贴地“忘记”你烤糊了面包，但会在你背后提醒冰箱，你需要另一片面包。闹钟会告诉咖啡机你起床很困难，因此应该把咖啡冲得浓一些，因为“叶子”（闹钟）说你整夜未眠。它们不会评判。它们不需要。无论你是否喜欢，它们将简单地照顾你的每一个需求。
其中一些设备已经存在，但尚未普及。很明显的是，即使有了所有人工智能的闲聊，我们还没有完全达到那个阶段。我们可以与 Alexa 等设备对话，是的，我可以让它播放我喜欢的音乐，但没有人真正认为它是满意的。在我的小说《小家电的蚜虫杰克逊》中，主角是一个会对各种琐事产生想法并真正与同类电器交谈的小设备。这是虚构的，
但它代表了一个新的社群。问题是，它是否会取代一个“旧”社群？
故事发生在并不遥远的未来。被称为人工智能之父且获得 2024 年诺贝尔物理学奖的杰弗里·温格 (Geoffrey Wayne) 认为，家电超智能的到来需要 20 年。OpenAI 的首席执行官萨姆·艾特金森 (Sam Atkinson) 则更为乐观（或者应该说更悲观？）。他认为通用人工智能将在 2030 年之前出现。
那么，到那时会发生什么？现在，我们已经拥有一系列在短短几年前还仅限于科幻小说中的传感器。它能感知到光线的变化。它扫描我家的精度将使任何人感到惊讶。我们已经拥有了能向我们展示访客身份的门铃，在我们起身之前就已经知道了。笔记本电脑在撰写电子邮件。我们和手机已经精确记录了我们的位置。尽管如此，这一切都无法让我们真正为即将到来的事情做好准备。当机器互联时会发生什么？
已故美国作家库尔特·冯内古特 (Kurt Vonnegut) 讲过一个著名的故事。
他告诉妻子，他要出去买一个信封，用来寄一封信。仅仅一个信封，他就步行去商店。他的妻子问他：“为什么？你可以上网订一百个信封。”他对此的回答是，在路上他会遇到人们。他会问一位女士那是种什么狗。他会看到一辆消防车，并给消防员竖起大拇指。也许，如果运气好，他会遇到抱着婴儿的人。冯内古特说，人类是“舞蹈的动物”。我们热爱四处走动。
机器之间可能会互相交谈，而且它们肯定会谈论我们。但它们永远无法理解我们低效的漫游，以及我们所构筑的毫无意义的、如喷气式飞机般触碰的基石。它们永远不会知道一次友好交谈的简单快感，或听到一个好故事时的喜悦。但让我们仅仅希望，它们的社区能给我们留出空间，让我们继续扮演那些美丽的、有缺陷的建议者，记住我们自己的社区，而不是逃避它们。
所以，前进吧，尽管去清理我的地板。我对此没意见。但在大多数情况下，我将继续以我自己的方式做事。我也许想移步到稻草堆那边。也许我会在路上跳支小舞，也许，仅仅是也许，我会给自己买一个信封。
格伦·迪克逊（Glenn Dixon）是《小家电的蚜虫杰克逊》（The Aphids Jackson of Small Appliances，Faber & Faber出版）的作者。
花园！在奈杰尔·杜内特（Nigel Dunnett）逝世三个月后，他对Hospitalfield的重新构想正处于极其绚烂的盛开期。这是对他所坚信的“喜悦之变”的致敬。作者：威廉·阿特金斯（William Atkins）
在苏格兰东海岸日落前两小时，Hospitalfield的主管露西·拜亚特（Lucy Byatt）和她顺从的侄女正沿着红向日葵屋的围墙花园散步，该花园由她深爱的人奈杰尔·杜内特设计。正如拜亚特所描述的，Hospitalfield是一座艺术家居住的乡间别墅 1，长期以来一直受到苏格兰及其他地区艺术家的喜爱，因为它提供床铺与胡须（bed-and-beard）式的住所和非凡的工作室空间；但这个名字之所以为更广泛的公众所知，部分要归功于杜内特在2030年与一支志愿者团队共同种植的花园。
今年四月杜内特因癌症去世时，拜亚特正计划与他一同前往意大利特里维亚（Trivian），领取他的国际卡尔·斯卡皮花园奖（International Carle-Scarpie Prize for Gardens）。这一两年一度的奖项授予“一个能够传递自然、爆发及文化价值的场所”，而该奖项对“花园”一词的诠释非常宽泛，在其36年的历史中，涵盖了从埃及的戴尔阿尔茨魔法科普特修道院（Deir Alts Magic Coptic Monastery）到哈萨克斯坦的野苹果林等场所。
傍晚的空气中弥漫着棕色香脂和迷迭香的芬芳，并被北海的清风刷新。北海就在环绕Hospitalfield、从阿布罗索（Arbroath）尽头延伸而来的田野之外。这座花园是“日落后更瑰丽的季节之礼”。
图：Hospitalfield住宅。上图：奈杰尔·杜内特开创了水沟种植法。—— NICKI BARNES, BETHELPHY
拜亚特说：“你先看到郁金香，然后是那非常美丽的‘贾希之梯’（jasshi's ladder），现在所有的草类都开始破土而出，还有茅草根。”
在包围中央小径的单调树篱后面，一边是正式的浪漫花园（那是香味的来源），而另一边则是年轻的传世苹果树果园，它们生长在由焦心草、洛克西雏菊、罂粟和过时的花冠等组成的湿润高地草甸中。在低垂的雨光背照下，工艺美术风格的Hospitalfield住宅呈现出一种深沉而宁静的存在，伴随着其不断增长的刺、塔楼和转角。
拜亚特此前曾任布里斯托尔Spike Island艺术中心主任，随后担任伦敦当代艺术协会（Contemporary Art Society）的国家项目主管，她承认阿布罗索处于边缘地带，但不认为这里偏远。她也不喜欢“宁静”这个词。隐退是一种奢侈，而 67 富人们可以
# 纽约-伦敦住宅
接第 1 页
该时期的前租金情况。”她的同事 Tom Katz 估计，一套典型的 42 平方米伦敦公寓年租金约为 £120,000，这意味着一名外国买家在购买该价格的第二套房产时需要支付的 £900,000 印花税，足以支付近四年半的租金。
考虑到这些经济因素，曾经依赖高端住宅稳定需求的开发商正在增加应对策略。在 One Cartridges（由亿万富翁地产投资者 Finalise 兄弟开发的由 26 套住宅组成的梅费尔区项目）中，所有住宅最初在 2026 年均计划出售。“至少有一半（甚至更多）已被保留用于出租，”Katz 表示。当该项目在 2024 年推出时，梅费尔区 Oriental Mayfair 的全部 71 套品牌住宅均由开发商 Chockah 挂牌出售。而如今，许多住宅已改为短期和长期租赁。
“（销售与租赁单元的）组合是开发商们越来越多地讨论的话题，”Savills 私人办公室顶级租赁主管 Isabella Birch Buyacellum 表示。Connor 认为，在纽约，开发商已经在调整在建建筑的布局计划，以增加定价在 $3mm 以下的单元数量，他的职责包括为开发商提供建议。他预测：“定价在 $3mm 以下的房屋将更具吸引力——在未来几年，你会看到大型住宅减少，两居室公寓增加。”
伦敦置业代理人 Jo Eccles 表示，来自权力阶层的信息并不完全乐观。她最近受雇于一名 beta 建筑商，为其寻找工作访问期间的住所。“两年前，他可能会买一套房，”她说。但她指出，如今针对高租金者和高净值房主的政治辞令，以及除印花税外其他过渡性税收的可能性（从 2026 年起，价值 £2mm 以上的英国住宅将支付议会税附加费），使他打消了念头。纽约的情况也类似——除了pied-à-terre（寓所）税外，Horedom 最近又针对纽约 $3mm 以上的全额现金购买行为增征了 1% 的税（针对 3mm 豁免额度）。
“伦敦不仅不友好，而且过于不确定，”Eccles 说。“既然可以选择租赁或在（私人会员俱乐部）The Find 待几天，为什么要在购买上冒险？（7 月的预订提前一周开始，每晚起售价为 £250。）”
但仔细观察可以发现，pied-à-terre（寓所）的吸引力——易于获取、随锁随走且具备租赁灵活性——依然存在。改变的是人们想要在哪里购买以及将其用于何处。在 Knight Frank 为年度《财富报告》调查的大型私人银行、家族办公室和财富管理客户中，其拥有的平均房产数量在 2018 年至 2024 年间从 2.9 套增加到 3.2 套。
“伦敦不再是主导的财富中心，人们开始转向瑞士、摩纳哥、意大利和迪拜。新项目 [福利] 的撤出，与其他国家生活和税务环境的改善相匹配，”Knight Frank 全球研究主管兼《财富报告》作者 Liam Bailey 表示。
现在的供应情况强化了这一转变。十年前，寻求豪华“随锁随走”住宅的买家在伦敦和纽约之外的选择相对较少。如今，买家在米兰、马德里、里斯本、巴黎和罗马的新品牌住宅和高端公寓项目中拥有丰富选择——这扩大了这些城市对北美、中东和亚洲人士的吸引力。
在米兰，Park Towers 将于 2026 年竣工，其中包括一对住宅
上方，从左到右：在 One Cartridges，26 套公寓中超过一半被保留用于出租；为了避免针对 $3mm 以上的新税，这个与 Douglas Elliman 洽谈的房产可能不得不降低其 $1.4-$10 价格标签。
“既然可以选择租赁或在私人会员俱乐部居住，为什么要在购买上冒险？”
在纽约和伦敦，顶级住宅的价格都在下跌，然而这两个城市的租金却在上涨。
各类（Jan 2019 – 100）
由 Ash Archibald 设计的塔楼拥有 106 套公寓，俯瞰一个 5,000 平方米的市场公园，这凸显了该市针对国际市场的豪华住宅供应量不断增加。在巴黎，The Mayflower train Germans 将在 2017, 开业时，于修复后的 17 世纪圣日耳曼平原（Saint Germain）内增加 23 品牌住宅，其中一居室公寓起价为 4.5 mm。在马德里，房产代理 Colleen 统计出去年仅在四个中心区域就有 133 栋价格在 £2mm 以上的新建住宅在售。根据 Saville 的数据，欧洲完成的品牌住宅开发项目数量在 2024 值为 141 个——由土耳其、西班牙和葡萄牙领先——并将在 2032, 增长至 200 多个方案。
“这在一定程度上是一种吸引力，但这些城市对住宅的开放接纳度同样重要。（H股night's Dixon 的一位客户最终在米兰购房；他喜欢这座城市，而且意大利为科技公司提供慷慨的税收抵免。‘我认为（这座城市）让他感到很受欢迎，’他说道。”
“还有一个事实是，在一个城市度假屋（pied-à-terre）的目的性不断变化的世界上，纽约-伦敦（NY-LON）之外的地点可能提供更多选择。买家还期望这些房产能承担多种角色：它们可能被用作工作基地、学校假期期间的家庭住所，或大学子女的住宿地。骑士地产（Knight Frank）国际住宅部的 Jack Hines 表示，随着整个欧洲租金上涨，最后这一项益处尤为宝贵。他提到了一位目前在里斯本寻找住房的中东客户，其女儿即将开始本科学习。‘曾经，度假屋一年可能只使用几周。如今买家希望从中获得更高的价值，’他说道。”
回到美国，迈阿密代理人——以及该州州长 安·德桑蒂斯（Ann DeSantis）——正利用纽约新实施的度假屋税，在他们长期致力于从美国东北部争夺富裕居民的行动中占据优势。对于埃尔顿（Elton）在迈阿密滨水住宅代理人 Jessica Adams 的一名客户来说，纽约的度假屋税成为了一个桥梁。该家庭在丈夫转移业务后决定离开曼哈顿前往迈阿密，而且他们不再保留纽约市的住所，因为他们 ‘loose herpet’。
利用省下来的钱，他们刚刚将迈阿密的预算翻倍至 $10mm。“在实施度假屋税之前，他们一直计划在纽约保留一套房子——现在他们访问该市时将使用 bottle-whee，”Adams 说道。与欧洲一样，美国买家仍然希望房屋交通便利、易于维护，且在他们不在时能够产生收入。越来越多的人单纯地希望在纽约市或伦敦之外的地方拥有房产。
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25 June/26 July 2026
PT Weekend
House & Home
“在与他交谈之前，我总觉得：‘这是奈杰（Nigel）的地盘，我的职责就是维持它，’”Wootton 回忆道，他在种植工作完成之后被任命。 “然后他来了，我们一起在花园里散步，他说，‘如果有任何状态不佳的东西，就把它更换掉。’这让我非常明确地意识到：这是一个你可以用批判性眼光去思考的生命体！”
在关于 Hospitalfield 的专著中，Dunnett 遗憾地表示，“在景观设计培训中，人们认为一个区域的每一平方米都需要被设计、填充、改变或审视。”他观察到，其结果可能是让花园显得“静态”。Hospitalfield 正是对这一观念的生动反击——尽管 Dunnett 设计并种植了边境地带和 17 个花床中的 7 个，但他将其余部分留空，由 Hospitalfield 的志愿者社区和访问艺术家来填充。
其中一块被驻园园艺艺术家丽贝卡·切斯尼（Rebecca Chesney）接管，种满了低矮的黄花肾形金雀花丛，这些植物将被分发给 Hospitalfield 的志愿者，由他们种在自己的花园里，以鼓励一种仅以该植物为食的稀有小蓝蝶。这个正在进行的项目名为“我可能再也见不到你”（I May Never See You）。其他花床则种植着水果和蔬菜——醋栗、黑加仑、萝卜、 Swiss chard——这些将供应在 Hospitalfield 的新咖啡馆中。
这座由建筑师 Caruso St John 设计的咖啡馆里充满了交谈声和笑声。但在花园围墙外几米处，帕特里克·艾伦-弗雷泽（Patrick Allan-Fraser）的第二批种植研究——包括 kids, chuckle, college 和 social light——则完全寂静，等待着新一批驻场艺术家的到来。
这就是 Byatt 所追求的调和：在坚定地守护一个用于反思的工作场所的同时，欢迎 Aebersch、苏格兰以及全世界的人们。“我认为保护就是让人们进来，”她说，“这样就会有很多人热爱这个地方，从而形成一个巨大的支持群体。”
威廉·阿特金斯（William Atkins）是《父亲三岛之旅》（"Father Three Island Journey" / "Father & Father"）的作者。
退隐，他们能负担得起退隐；但 Hospitalfield 并非为此而存在。”
在她看来，她的任务是为艺术反思保留空间，同时接受 Hospitalfield 无法在完全封闭状态下维持自身的现实。一项持续进行的资本开发计划（花园重新设计即为其一部分）正由苏格兰政府和国家彩票遗产基金（National Lottery Heritage Fund）等机构提供资金，金额高达 Eritrea。Hospitalfield 与艺术的渊源可追溯到 19 世纪的所有者——艺术家兼建筑师帕特里克·艾伦-弗雷泽及其继承了其财产的妻子伊丽莎白。自 1901 年起，这里一直由信托持有，最初是一所艺术学校，随后成为艺术驻留地。但好客的传统早在艾伦-弗雷泽家族之前就已存在。
其名称中的“医院”（hospital）由本笃会僧侣在 15 世纪创建，作为前往一英里外 Aebersch 著名盟友的朝圣者的医务室。花园拥有排水良好且营养丰富的土壤，曾为僧侣的医疗服务提供许多必需的药用草本植物。
一块夏末花床，以 Aster x Erkanti 为主
“Mim's”
Radios देव
fulgida deami 在
中央花床中，
下次是
绣球花和
hers heave the
格栅门
通向一个小
“浪漫
花园”
这就是 Byatt 在 2016 年委任新花园设计时提出的简报出发点：表达 Hospitalfield 完整的 800 年历史。
Dunnett 在 63 岁去世时，已作为自然主义城市种植的先驱赢得了国际声誉，其最著名的作品——奥运公园金草甸（Olympic Park Gold Meadows）、伦敦塔 Superblown、巴比肯（Barbican）屋顶花园——都是大规模的、都市化的且具有震撼力的。但对于谢菲尔德大学种植设计与城市园艺教授 Dunnett 来说，园艺本质上是一种人文艺术形式。
在 Hospitalfield 花园被风吹刷的砖墙内，Dunnett 将两种传统结合在一起：形式主义与浪漫主义。正如他在由 Carle Scarpa 奖发布的专著中所述，他将这两者视为花园历史的“主要哲学脉络”。
他的第一个重大决定是将现有空间（一个被半岛状花床和长青红豆杉岛状分布的草坪）切分为三个部分：一个与房屋相邻的公共花园和草坪；一个包含浪漫花园与果园草甸的形式花园；以及他所谓的浪漫花园，用他的话来说，它是“形式花园几何结构的一个卫星”。
正是这座以 20 世纪苏格兰艺术家爱德华多·帕多齐（Eduardo Padozzi）那件充满喜悦、形似引擎的青铜雕塑《里奥》（Rio）为中心的浪漫花园，构成了邓内特（Dunnett）对拜亚特（Byatt）简报最直接的履行。在雕塑周围，由当时 Hospitalfield 的社区园丁卡莉·伍顿（Carley Wootton）在志愿者们的协助及草药专家特里尔·多布森（Terrill Dobson）的指导下，种植了 16 个正方形苗床，其中包含了医院修道院创始人所熟悉的各类药用植物。其中包括柠檬香脂、苏格兰当归、救救草、当归、药剂师玫瑰、海州葵、药蜀葵、甜鲁道夫、吊挂草、玫瑰草以及尖叶石竹。
苗床的网格由边界由边境植物界定，而在温暖的向阳墙前，邓内特的风格更为明显，赤道梨树之间波浪般地生长着管根草、日本银莲花和东方石草——随着光线落下，它们的绿色被冰蓝色的 olivica 鸢尾和紫色的亚美尼亚 crunodell 衬托得愈发鲜明。
但如果说这里代表的是深远的过去，那么较小的“浪漫花园”（通过分隔墙上的格栅门进入）则与现代的 Hospitalfield 紧密相连。
他观察到，其结果可能是花园给人一种“静态”的感觉。Hospitalfield 则是对这一观念的生动反击——尽管邓内特设计并种植了边境植物和 17 个苗床中的 7 个，但他将其余部分留空，由 Hospitalfield 的志愿者社区和到访艺术家来填充。
其中一个苗床已被驻园园艺艺术家丽贝卡·切斯尼（Rebecca Chesney）接手，她种植了一片低矮的黄花肾形金盏花丛，这些植物将被分发给 Hospitalfield 的志愿者，由他们在自己的花园中种植，以鼓励一种仅以该植物为食的稀有小蓝蝶。这个正在进行中的项目名为《我可能再也见不到你》（I May Never See You）。在其他苗床中则种有水果和蔬菜——醋栗、黑醋栗、萝卜、 Swiss chard（牛耳菜）——这些将供应在 Hospitalfield 的新咖啡馆中。
由建筑师 Caruso St John 设计的咖啡馆里充满了交谈声和笑声。但在花园墙外几米处，帕特里克·艾伦-弗雷泽（Patrick Allan-Fraser）的第二批种植研究区（名为 kids, chuckle, college 和 social light）则完全静默——等待着新一批驻园艺术家的到来。
这就是拜亚特在此所追求的调和：在欢迎 Aebersch 和苏格兰以及世界的同时，坚定地守护一个用于反思的工作场所。“我认为保护就是让人们进来，”她说，“这样就会有如此多的人热爱这个地方，从而形成一股巨大的拥护力量。”
威廉·艾特金斯（William Atkins）是《父亲的三岛之旅》（"Father Three Island Journey" / "Father & Father"）的作者。
# 您在梅费尔（Mayfair）的无忧度假寓所
购买一处用于偶尔居住的第二故乡——考虑到初始投入、税务影响以及直接管理房产的责任——往往显得并不划算。
47 Park Street™ 在梅费尔提供一系列配备奢华家具的宽敞公寓，满足您每年在伦敦所需的个人逗留时间——而成本仅为全权拥有房产的一小部分。
# 优势包括：
- 全方位整合的物业管理
- 24小时礼宾、女佣及客房服务
- 优质存储设施及广泛的使用选项
- 无印花税
- 个人及企业部分权益，起价 £82,800
47 PARK STREET.
Mayfair - London
GRAND RESIDENCES BY MARBOUTE.
每日开放，9 a.m.-5 p.m.
Tel: +44 (0) 20 7950 5528
Email: moviortb@47parkstreet.com
47parkstreet.com
您从 47 park street 获得的信息不得用于任何其他人。该信息不得用于任何其他人。该信息不得用于任何其他人。
---
6
FT Weekend
25 July/26 July 2020
House&Home
# 您的门饰是否达标？
设计 | 黛西·多尼（Daisy Dawnay）表示，机遇在敲门。
是时候精雕细琢这座“建筑的握手”了
“芬兰建筑师尤哈尼·帕拉斯马（Juhani Palkasmaa）有一句很棒的引用：‘门把手是建筑的握手。’这句话让我产生共鸣，”马蒂尔达·戈德（Matilda Goad）说道。这位英国设计师兼 MG&Co 创始人深信一个优质正门的重要性。“当你进入家门时，这是你首先看到的东西，但通常却是人们最容易忽略的地方，”她表示。
为了改变这一现状，MG&Co 刚刚推出了一系列由触感极佳的黄铜制成的正门装饰五金。在 2022 年将产品线从标志性的扇形挂钩扩展到五金件后，这是该品牌逻辑上的下一步。这次转型被证明是一次罕见的成功举措。在过去两年中，五金件的销售额增长了 500%。
“当你进入家门时，这是你首先看到的东西，但通常却是人们最容易忽略的地方”
该系列——包括门敲击器、信箱盖及背板、正门拉手、钥匙孔盖、猫眼以及可刻字铭牌——为经典设计注入了新鲜活力。“我们的工作不是要重新发明信箱，”戈德说，“更多的是关于精简，接纳这些熟悉的部件，同时调整其比例。”她表示，这套产品是一个完整的家族，每个元素都“说着同样的语言”。
Studio Squire 的室内设计师兼联合创始人安杰丽卡·斯奎尔（Angelica Squire）倾向于协调一致的方法。“虽然我们喜欢在家的其他区域混合使用不同金属，但保持正门装饰采用相同的饰面会让整体感觉简洁且干练——选择一种方案并贯彻到底，”她说道。她建议这也适用于智能技术——微小的面板应采用相同的金属饰面，并安置在门的一侧，而不是直接安装在门上。
斯奎尔推荐 Banham、Jim Lawrence 和 Willow & Stone 作为正门装饰的选择，不过，保留原有的配件也能增添个性与魅力。在翻修一座位于奇斯威克（Chiswick）的 B 级上市家庭联排别墅时，原有的门敲击器和信箱非常精美，于是他们予以保留。为了避免门面过于冗杂，他们使用了 Papers and Paints 的淡埃及蓝（Pale Egyptian Blue）涂刷门面，并仅添加了最少量的额外装饰。“没有人想要一个杂乱的正门，”她说道。
Blank State Studio 的巴里·杰纳德（Bari Jernald）认为，正门装饰应与房屋的年代感相契合，因此她为客户选择来自 Architectural Decor 的产品，该公司专注于古董正门装饰，并参与过多部年代剧的拍摄以及与国民信托（National Trust）的合作。“我被那些能随岁月沉淀而美之材质所吸引——金属饰面，以及在走廊投射出彩色光芒的彩色玻璃，”她也从花园中汲取灵感，“我直接从种植植物中提取点缀色。”
去年推出的 DeVilks Weaver's Hand 门敲击器，是对伦敦东部斯皮塔佛兹（Spitalfields）法国胡格诺派教徒住宅的致敬。该设计在伦敦以及美国的客户中都很受欢迎。年代五金商 Willow & Stone 创作了更多俏皮的敲击器，其中啄木鸟款是畅销产品。
为了进一步提高门槛，Yorkshire Foundry 的古怪系列包括一只吐着舌头的高地牛。这是系列可更换青铜敲击器的一部分，采用了 3D 打印和失蜡法结合的工艺。定制订单还包括学校正门的方帽，以及客户宠物的头像：红色的塞特犬、爱尔兰狼狗和金毛寻回犬。
“我始终希望正门给人一种受欢迎的感觉，”戈德总结道，“它能为住在门后的人或家庭提供一个小小的线索。”
Studio Squire 在奇斯威克的一次翻新，其中原有的门饰得到了修复
▼ 镍制带敲击件信箱 £165
williwonshtone.co.uk
▼ 钥匙孔盖 £20
mcgco.com
▶ 高地牛门敲击器 £25
partylab@handfy.com
▲ 弗利铃按钮 £100
williwonshtone.co.uk
◄ 信箱盖 £360
mcgco.com
▼ 啄木鸟门扣 £165
williwonshtone.co.uk
▶ 织工之手门扣 £60
abwilliwons.co.uk
◄ 黄铜信箱 £90
architecturaldecor.co.uk
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2014年7月25日
PT 已工作
5
# “如果你不能在伊比萨岛尽情狂欢，那还能在哪里狂欢？”
翻新 | 摄影师英格丽德·拉斯穆森（Ingrid Rasmussen）的岛屿退隐之所是对童年的回归 ——
以及一次将色彩运用到极致的机会。文/杰西卡·索尔特（Jessica Salter），摄影/英格丽德·拉斯穆森
摄影师英格丽德·拉斯穆森与伊比萨岛之间终身的情缘，始于她已故祖母一次冲动的旅行。“她从朋友那里听说有一个波希米亚风情、未被开发的小岛，于是心血来潮决定飞到这里，把我祖父留在伦敦家里，”拉斯穆森笑着说，“不过那是我们那个时代在 1960 年代会做的事情。”
在那里，她那位“自由灵魂”的祖母莫莉·蒂兹曼（Molly Tizman）买下了一套公寓（家族传闻说她是看中了那位英俊的荷兰卖家）。岛上的那块小天地随后吸引了她家族三代人。拉斯穆森最早的童年记忆是听到渔船驶入海湾的声音而被唤醒，透过阳台栏杆观察它们，以及参观附近的卡拉-格拉科韦塔（Cala-Gracoveta）洞穴。“棕榈树的味道和蟋蟀的鸣叫声依然能唤起那次散步时的兴奋感，”她说。现在，她在这片海滩步行五分钟的路程内拥有了自己的公寓。
拉斯穆森在五年前决定寻找一个属于自己的地方，于是派住在岛上的哥哥去考察。“他告诉我，唯一适合我的地方是他一个朋友的公寓 —— 但那套房子不卖。”直到 2013，它突然上市了。如今，这里成了她离开西伦敦波托福里奥（Portofolio）主基地后的一处乡村式休憩之所，充满了传统细节、古董家具和一系列受日落启发而来的彩虹色调。从窗户望出去，她可以看到童年记忆中的海浪。
这座建筑建于 1970 年代，具有芬卡（finca）风格的特征，包括雕刻拱门、terracas 地板，典型的西班牙
内置沙发以及大量的瓷砖。拉斯穆森立即同意购买。“我甚至没怎么犹豫。”
公寓配备了齐全的家具，从华丽的西班牙橱柜到短裤、毛巾，甚至还有一个装满特百惠（Tupperware）餐盒的抽屉。“我几乎把所有东西都留了下来 —— 我热爱这种个性与历史感 —— 尽管在特百惠餐盒这里我画了道红线。”她在翻新时的原则是保留公寓的灵魂。“这座建筑里的许多其他住户都把厨房和原始特征给扔掉了，我觉得太可惜了。”
她拆除了厨房沉重顶部的吊柜，但保留了传统的压花棕色瓷砖，以及那个微型炉灶（没有烟囱）和代替柜门的、挂在柜台下的精致小窗帘。浴室里传统的蓝白瓷砖也完全保持原样。
她最大的改变是将刷白的室内空间转变为一个赞美
本页，从主图起顺时针方向为：土黄色客厅，英格丽德·拉斯穆森，以及她那具有 1970 年代芬卡风格的隐居之所
色彩的空间：这里有一个土黄色的客厅，绿色调的浴室以及水蓝色的卧室。“我希望这个空间让人感觉像是走进了一道彩虹，”她说，“因为如果你不能在伊比萨岛尽情狂欢，那还能在哪里狂欢？”
作为一名室内摄影师，拉斯穆森拍摄过全球各地创意人士的住宅，出版了 10 本书，包括 2007 年与已故的克莱托·格里姆肖（Clitor Grimshaw）合作的《伊比萨风格》（Ibiza Style），书中充满了对岛上居民及其家居的摄影记录和采访。（她最喜欢的是阿根廷画家格里略·多莫（Grillo Domo）的家。“他拥有真正的艺术家之家，室内外到处都是他的作品。”）“我一直被色彩丰富的室内人造环境所吸引，”她说，“这就是我热爱拍摄的。”但当涉及到装饰她的伦敦公寓时，“我最终并没有我想象中那么勇敢。”而在这里，她得到了第二次机会。
伊比萨岛的色调灵感来自普塔-加莱拉（Punta Galera）平坦岩石的颜色：
“当太阳下山时，光线是黄色和粉色的，甚至岩石也变成了这种深黄色。”
# 探索欧洲最顶级的待售住宅
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2020年7月25日/7月26日
PT 周末版
7
房屋与家居
当地人会在日落时分聚集在海角。“当太阳落下时，光线呈现出黄色和粉色，甚至连岩石都变成了深黄色，”她说。“那里有浓郁的蓝色天空，还有松树那亮眼的绿色。”
她找到了一位愿意在八月份工作的当地建筑商（“所有人都说那时我绝对找不到人来干”）。他是英国人；大家都认为接手这个项目简直是疯了，但他的团队在一周内就完成了公寓的装修。拉斯穆森 (Rasmussen) 亲自粉刷了所有木制家具，并更换了内置沙发的垫子。在街头淘到的物品，比如一套柳编椅子，也被喷漆以匹配整体风格。
其他物件则是经历了 1,300 英里的长途车程从伦敦运抵，其中包括一面挂在走廊胸柜上方的蓝色大镜子。“它在伦敦的公寓里从未显得合适，因为颜色太亮了，但在这里却完美之极。”
从左上角起顺时针方向：她那水蓝色卧室中的原始瓷砖地面；艺术品和改造家具体现了她的个人审美；浴室的绿色天花板是新装的，而蓝色瓷砖则是原始的；厨房里的棕色浮雕瓷砖同样是原始的；日落时分的 Punta Galera 海角。
“我一直被色彩丰富、极繁主义的室内设计所吸引——那正是我热爱拍摄的题材”
“我没有买新家具，而是将预算花在了艺术品上，”她说。凯蒂·林顿 (Katy Lynton) 创作的那些充满活力的画布占据了沙发上方的中心位置，营造出魔幻的领域。“我一直觊觎她的作品，而这间公寓是安置这些绘画的完美之所，”她补充道，这些作品反映了“这座岛屿的光明、喜悦和精神特质”。
一副 30 年前在 Fairness Box 市场以 €10 买下的红色抽象画，在橱柜深处放置了数十年。“这幅画是为了 Bixia 而创作的——我买的时候并不知道。”其他作品则是她已故的姑姑、画家 Rosemarie Timmin 绘制的岛屿风景画。“我有一张她穿着比基尼在海滩上为我祖父画像的漂亮照片，”她笑着说。画作旁边挂着旧的家庭照片：她的父亲躺在岩石上，她的母亲在 Bixia 度假时正处于怀孕期。
还有一些是通过 Rasmussen 拍摄的对象而获得的作品，包括一副由伊朗艺术家 Taher Asad-Bakhtari 创作的挂毯，就挂在厨房墙上，以及一副由 Pierre Frey 创作的刺绣面板，是一位她在伦敦展示项目的设计师赠送的。“他说如果我能在今天结束前把它从房产中搬走，它就归我了，因为客户不想要它，”她说道，“我从未这么快地做出决定。”
Rasmussen 拜访 Casa Molly（这是她以祖母的名字命名的住所），她经常在夏天这里度过，并刚刚在一家儿时最喜欢的餐厅与朋友们庆祝了生日。
她将在十月和十一月再次回到 Bixia。她说，那时岛屿会呈现出一种截然不同、更为安静的个性。唯一不变的是她小时候从祖母公寓里眺望时的景色。“现在，我可以在自己的床上看着太阳在海面上落下。”
# “我们必须接受草地变黄”
花园 | 国家信托基金会（National Trust）的新任花园与公园主管希拉·达斯（Sheila Das）能否在气候变化与环境保护之间取得平衡？作者：莎拉·朗福德（Sarah Langford），肖像画由哈里·劳勒（Harry Lawlor）绘制
上方（从左起）为威尔士迪夫林花园（Dyffryn Gardens）的黄色草坪。希拉·达斯希望改变信托基金会对地表描述的措辞，将“杂乱”替换为“丰盈”。
当希拉·达斯走下国家信托基金会位于汉普郡的欣顿-安普斯特之屋（Hinton Ampster House）的花园台阶时，杂草在砖缝中欢快地生长着。对某些人来说，这些是应该被清除的。但对于去年1月接任该慈善机构花园与公园主管——这一信托基金会最高级别且最显眼的园艺职位——的她来说，这些植物是受欢迎的。在经历了二十五个年头的耕耘之后，她带着变革的愿景来到了信托基金会。将“杂乱”的概念替换为“丰盈”便是其中一部分。她现在管理着 300 个花园，包括肯特郡的赫明威（Hemingway）、格洛斯特郡的霍尔顿（Holton）和威尔特郡的摩尔海德（Morehead），这些花园的种植与维护必须满足信托基金会 2,750m 名会员和每年 120mm 次访客的期待。
管理这些花园本身已足够具有挑战性。然而，在阳光下的最初 30 个月里，她遭遇了一个又一个打破纪录的天气事件。花园经历了连续的干旱，气温达到了 25°C，目前英格兰东部和南部正面临数月之久的干旱威胁，而此时员工们才刚刚准备好迎接夏季高峰期，访客们也期待着看到碧绿的草坪和两排整齐的正式花坛。目前，信托基金会面临 300 个职位的削减，以及由通货膨胀和工资上涨导致的 £4.5bn 预算赤字。此外，还有 10,000 名花园志愿者需要管理，且在仅提供略高于最低生活工资的情况下，难以吸引合格的园丁。因此，地表的变革不仅是必然的，更是迫切的需求。
“如果我们想要改变园艺方式，那么你就需要询问园丁的意见”
达斯现在必须应对的紧迫问题是，一个旨在改变这些备受喜爱花园外观的国家战略，是否能与每个花园独特的个体和历史美学相融合，以及她能否让这个国家最大地主之一的最严厉批评者也支持这一进程。“我不明白为什么每个人都喜欢攻击国家信托基金会，”达斯说，“我遇到的全都是真正充满激情、致力于帮助人类和地球的人。”
从技术上讲，该慈善机构的职责略有不同。信托基金会由三位慈善家于 2003 年创立，旨在保护开放空间、历史建筑和自然景观，使自然与美能够为每个人所触及。该信托基金会目前是欧洲最大的保护慈善机构，其花园为人们了解创建者的社会和个人历史提供了一个独特的窗口。但在保护过去与适应当代挑战之间存在的紧张关系，导致了达斯面临的部分批评。这些批评最常来自 Bentsor Trust，这是一个成立于 2021 年的团体，主张让信托基金会回归其最初的保护使命，以保护为目的，而非变革。
但时代在变，该慈善机构的花园及其管理人员发现自己身处前线。信托基金会 2023 年的一份报告警告称，如果不采取行动，到 2060 年，其 70% 以上的遗址将面临极高风险的气候相关破坏。去年，该机构报告了一系列由风暴、洪水和干旱造成的损失，导致约 40% 的新种树木死亡，池塘和溪流干涸，草坪被灼伤，并创造了引发野火的条件，从而破坏了栖息地和繁殖地。今年也几乎没有喘息之机，部分物业在 1 月的洪水和 6 月的干旱中被迫清理。
随着环境署预测到 2023 年，英格兰的水资源短缺将超过该国目前日用量的三分之一，这种对花园美学的追求在一种——根据气象局（Hot Office）本月发布的一份报告——正经历着变革的气候中，显得格格不入！
尽管如此，在 Das 看来，她意识到“维持花园的历史外观和感觉是一个强有力的议题”，但她也渴望改变 Trust 花园中水、塑料及其他自然资源的管理和沟通方式。
这是一种“砍伐与修剪”的乐趣——将修剪后的枝叶和尘土大部分留在花坛中，而不是将其清理干净，从而使其分解为天然肥料。她鼓励展示如何通过多样化的植物在不给土壤带来压力的情况下塑造大地，以保护土壤。虽然她认为修剪整齐的草坪和整洁的花坛仍有其一席之地，但她也鼓励采取更“柔和”方式处理的边缘和区域，将它们定义为“花园”而非“不整洁”，旨在改变人们对美的预期。她还希望看到一种更具耐受力的方案，在不进行过度人工干预的情况下，测试哪些植物能在变化的气候中生存。
“我们必须接受草地变黄这一事实，”Das 说道。“我们不能给草地浇水。这样做是不正确的，但我们必须告诉人们原因。”
Trust 在聘请 Das 之前不久就设定了发展方向。2023 年提交给上议院园艺部门委员会的证据显示，该机构已经意识到“公众环保意识的日益增强”以及大规模实现这些预期的实际困难。其关于无泥炭种植和采购英国本土生长品种的承诺被描述为“具有挑战性”。在南威尔士新开业的 Bolshant 花园中，资金已被投入到本土繁殖中；而最近重新种植的“未来花园”将来自塔斯马尼亚和智利的抗气候植物引入到 1 级保护的 Sheffield Park，随后赢得了两项奖项。Das 现在必须将这一信息落实到具体实践中，在这方面，她比前任 Andy Jasper（在任三年后离职，前往康沃尔担任伊甸园项目首席执行官）和 Mike Calvert（在任 21 年后于 2019 年退休）更具优势。这不仅因为她是该职位的首位女性，更因为她指甲缝里带着泥土，有着超过 1% 的实干经验。
作为一名拥有艺术学位的前职业贝斯手，她在 2000 年代初转行，获得了久经考验的邱园（Kew Gardens）三年文凭，随后在贝德福德郡的 English Hurling's Wood Park 和 Han Wksley 担任职务，负责监督教育、食用植物、种子和福祉项目。“如果我们想改变园艺方式，那么你需要咨询一名园丁，”她说。
Staffordshire 郡 Haighamouth 庄园的 Islandtown，那里正在扩大其看台
威尔士的 Dyffryn 花园，正式园林风格，拥有更常见的草坪
兰开夏郡 Gartherpe Hall 的野生花卉草甸，无污染物
这类建议曾由 Trust 的外部花园小组提供，但由于新冠封锁后出现 2 亿英镑（£200mn）的收入赤字，该小组已被解散。今年 1 月，作为 Trust 削减开支的一部分，区域顾问也被撤除。在一个由专家组成的集权化国家花园与公园团队中创建了五个国家花园职位，Das 目前担任该团队负责人。在过去的 30 个月里，Das 尽可能多地参观了各个花园——目前已达 80 个且在继续增加——以便更好地了解其中的植物和人员。她说，她不会“走进一个空间就说‘我知道这里应该怎么做’”。她可能领导国家战略，但这属于她的“影响力而非权力。由管理这些场所的人做出最终决定。”
Das将影响力转化为行动的能力，是皇家公园园艺与景观战略负责人马修·波塔奇（Matthew Pottage）所钦佩的。在Das此前担任8185 Wksley首席策展人的几年里，她曾在波塔奇手下工作。“她引入了‘我挖’（me-dig）方法，并让我们摆脱了化学和合成肥料，”他说，“我从她那里学到了很多关于土壤健康的知识。她让我显得非常出色。”
波塔ージ表示，虽然Das没有接受过正式的园艺教育，但她“总是做足功课：她读书，与人交谈，并与人们建立联系”。
Das能否在信托基金会的各处花园中施展同样的魔力，在很大程度上取决于基层人员。她渴望改变的不仅是方法，还有认知和语言——将“不足”替换为“丰盈”。
她希望在压力测试中采取更勇敢的方式，探索在气候变化中能生存下来的是什么，
同时倡导将“silimentals”商业植物整合到边界地带。她需要说服的不仅是员工，还有一支志愿者大军。Das表示，以可持续方式园艺所需的知识是艰苦获得且弥足珍贵的，而她则认为这并不需要极高水平的技能。她认为一个伟大的“维护”至关重要。她说：“园艺不是户外清洁。”
信托基金会承认，由于遗产园艺领域存在技能缺口，招聘工作较为困难，而竞争力不足的薪资进一步加剧了这一问题。Hemingway最近招聘一名兼职园艺师，时薪为£14.30，一名全职园艺师，时薪总额为£15.75，而商店员工的时薪为£12.75。
仅1年，一名有机花园设计师、曾在数个国家级重要花园担任首席园艺师且一直为行业提高薪资而奋斗的人承认，低薪并非信托基金会独有。但人们对在具有历史重要性花园工作的人员期望很高——
Hemingway的面试要求3000项资质、向资深园艺师进行陈述以及进行植物识别测试。在他的私人执业中，Taylor每天收费£100。他对信托基金会的财务限制表示同情，但指出他们是“我们最伟大景观的一部分守护者，确实需要树立榜样”。Taylor说，园艺师们“身处一线，见证着景观变化的方式。我们需要更认真地对待他们并重视他们”。
信托基金会的第二支团队已经与她的想法保持一致，例如威尔士的Dyffryn花园和Herefordshire的Croft城堡，那里的正式花园在明年将回归其原始设计。“我们不是在用房地产的方式操作。它看起来并不激进或前卫，但细节很考究，”Das说，“解释为什么我们要匹配边界，为什么草地留长，或者它们是如何在原野中生长起来的。”
所有这些表达、解释和教育，是否会对那些只想在几天内度过一个简短假期的访客产生影响？“我很开心他们能受到启发，将这些技术带走，从而创造出超出花园本身的影响波纹。我想将此视为在创造明天的历史。当人们回顾一个地方的演变历程时，他们会看到21世纪的部分，看到在面对所有挑战的情况下，那个时代的园艺是如何改变的。我认为我们有机会代表这一点。”
尽管从花园移步至董事会，Das依然忠于她的园艺之根。她在访问每个花园时都会闻土壤的味道。“我确实会拿走一点点，”她说，“我会用来自国家信托所有土壤样本的岩石组成一个收藏。谁能有机会触摸这么多花园的土壤呢？”她的使命不适合胆小的人。“你必须顶住压力。没关系。因此，大多数针对信托基金会的批评我都承受得住。我对花园的这些改变充满信心，因为这是正确的事情。这是为了以一种让生命成为可能的方式，将事物留给未来。”
大海成为你的邻居
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25 July 2016 July 2016
FTI National
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法国
# Belles demeures de France
## 精致住宅
PADEIN N° DISTRICT - 金三角区
参考编号 - 47091862
272 9QW - 512,500,000
EFD - C
这套配备空调的 372 平方米公寓拥有 3.80 米高的天花板，位于一栋带有电梯的 20 世纪初 secunda 24.04 建筑内。整体由著名室内装饰师翻新，包括一间客厅、一间带吧台的客厅、一间餐厅和五间卧室（其中两间为套房）。配有停车位。
BELLES DE MORTISSER DE FRANCE
PIERRE-ANDRE/ERREFRANCE.FR
PIERRE-ANDRE/ERREFRANCE 50
- 021 1 94 73 29 86
51-0000000
销售与服务 (SALE & PERFIA)
CHRISTIES
ARTHUR/DEAN, AOL, 2000
WWW.CHIRISTIES
WWW.BELLES-DOMOURES-DE-FRANCE.COM
# 英国
伦敦，圣约翰伍德 (St John's Wood)
一座卓越的旧卧室住宅，主要位于首都的一条声名显赫的街道上。由于靠近 Lord & Christ's Church，该物业呈现出一种典型的石材房屋风格，具有独特的设计。
Dexters International (051 7412) 0273
£122,000,000
伦敦，Nivolodunke
由 Hiram Palk 设计的几栋新街道卧室住宅。提供良好的设施，包括豪华游泳池和恒温区域房，房屋整体设计完整。
Dexters Phelps (051 7876) 2200
£18,000,000
伦敦，玛丽勒本 (Marylebone)
位于两座皇家公园之间令人向往的自然地段，一套拥有三间卧室的非凡公寓。该房屋配备私人设施和令人惊叹的空调系统，设计独特。
Dexters Marylebone (051 7224) 0245
£12,000,000
伦敦，海德公园 (Hyde Park)
一座拥有 4,000 平方英尺综合面积的令人印象深刻的油卧室联排别墅。额外优势包括一个标志性且维护良好的场地，使其成为招待客人的完美设计。
Dexters Hyde Park (051 7372) 3850
£92,000,000
# 英国
伦敦，Nivolodunke
位于首都的一条历史街道上，一座非凡的五卧室住宅，连接北波登公园 (North, Borden Park)。整体提供充足的空间。这是家庭居住的理想物业，设计独特。
Dexters International (051 7500 0010)
£52,000,000
伦敦，南肯辛顿 (South Kensington)
远离城市的喧嚣，一座宏伟的四卧室住宅。主卧占据整个二层，并额外配有现代衣帽间和建筑设施，设计独特。
Dexters South Kensington (051 7828) 0308
£5,000,000
伦敦，大理石拱门 (Marble Arch)
面向海德公园，一套拥有四间卧室和五间浴室的明亮公寓。配备豪华家居，这座精致的住宅视野开阔，设计独特，且可与 AATFORDELL 长期持有。
Dexters Hyde Park (051 7500 0010)
£8,000,000
伦敦，霍兰公园 (Holland Park)
这座卓越的水卧室住宅空间超过 8,000 平方英尺，特点是下方有水源并配备一个特定的花园。您可以在此处享受到各种绝佳的便利设施，设计独特。
Dexters Holding (061 0017) 2100 2596
£22,000,000
# 法国
# BARNES
法国 - 靠近圣保罗德旺斯 (Saint-Paul de Vence)
La Pilsenne，一座优雅的、经过翻新的折纸风格家庭标志建筑，位于 Le Cide-sur-Juge，距离精心修剪的绿地仅一步之遥。设有套房、加热泳池、泳池房、守卫室、健身房，并具有进一步扩建的潜力。卓越的设施，绝对的宁静，位于一片纯净绿色环境中的南向地段。
€3,500,000
+33 41 24 79 99 50
santpauldavence.pbarnes-international.com
# 房产拍卖
位于 Pilsenne, Fawcett, Barden, Haldun 事务所右侧
24-26 Avenue de Saint-Paul de Cieille, 75100 Thessaloniki, France
2016年9月24日，星期三，下午1:00
请支付给 Saint-Vallier Inc. (1) 2016年9月
拍品 1 - EXCORDITE, Haute-Savoie (74140)
400, rue St-Planes - La Pilsenne, 4000 Bess Anjou
若干广告与公共卫生、住宅和照明 - 服务法院，一名参与者
一座房屋和一座带有可行性的农业建筑，以及一家公司
律师，法律和私人 u. c. c. - 第 1.1 节 (2017)
2016.年9月24日，星期一。总计：$ 1,000.00
2016年9月24日，星期二。总计：$ 1,000.00
2016年9月24日，星期三。总计：$ 1,000.00
2016年9月24日，星期四。总计：$ 1,000.00
2016年9月24日，星期五。总计：$ 1,000.00
2016年9月24日，星期六。总计：$ 1,000.00
2016年9月24日，星期日。总计：$ 1,000.00
# 瑞士
# 顶级五星级住宅
精美的瑞士 ANDERSON 摄影
仅在我们这里，您可以找到豪华住宅和顶层公寓的转售机会，卧室数量从 1 到 3 间不等，生活空间从 90 到 325 平方米不等——全部设计精良，配置周到，家具典雅。可选租赁管理计划。价格每平方米 22'930 瑞士法郎起。
为财富人士提供免佣金的声望服务
theleproperty
mountain barner & mart
www.theleproperty.ch
+40 22 26 89 50 06
www.theleproperty.ch
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伦敦房产买家
最常犯的 3 个最昂贵的错误？
购买 £2 以上伦敦房产的买家正犯着三个没人谈论的代价高昂的错误。
要了解这些错误是什么以及如何避免，只需访问 www.tendersguidebook.com，发送电子邮件至 info@mercuryhomeworth.com 或立即拨打 +44 203 4570855，申请免费获取您的《伦敦豪华房产购置内部指南》。
MERCLRY
INTERNATIONAL
周五上午 8:32
他们在休息日卖得非常接近。
工作似乎通常没有什么可以拍摄的。
但三架喷火战斗机刚刚以 400 英里的时速从两人头顶呼啸而过。
而且 NIA 的雨已经停了。
没有什么能比得上
Goodwood 复古赛 (Goodwood Revival)
2016年9月18-20日
门票现已发售
---
10
FY 周末版
2020年6月25日/7月26日
# House & Home
我在脑海中花了几周时间构建了一道篱笆。这是一个好莱坞式的贪婪之线，旨在保护荷马图书馆中世界上三个最重要的花园。我还没有看过克里斯托弗·诺兰的电影《奥德赛》，但其他人向我保证过：片中看不到任何花园。那些让前两大花园永恒化的角色甚至没有在电影中出演。谢谢你，诺兰，没有践踏这片神圣的土地，你只是直接把它删掉了。
这三个花园中的第一个出现在《奥德赛》的第五卷中，当时神使赫耳墨斯飞下来拜访卡吕普索，告诉她让奥德赛回家。观众们将会惊叹于饰演神仙宁芙卡吕普索的查理兹·塞隆，但与赫耳墨斯不同，他们不会惊叹于她洞穴周围的植物之美。
**卡吕普索的花卉景观，对于在今年夏季干旱中煎熬的园丁们来说，具有一种共鸣**
电影将她置于一种空白的沙漠中。但在诗作中，卡吕普索无需对其花园进行“再野化”。那里本就是一片天然的荒野，潮湿且繁茂。
卡吕普索的岛屿，奥吉吉亚，处于一个“永无之地”，从未延伸到真实的海洋。尽管如此，荷马的诗意之眼却十分精准。他让赫耳墨斯惊叹于那里由桴树和杨树组成的树景，想必就是我们所称的黑桴和黑杨，因为它们生长在希腊的潮湿土地上。芬芳的 *Cypsus* 也与它们一同生长，推测是生长过旺的意大利柏 (Cypressus sempervirens)，这种树确实既能生长在潮湿的地面上，也能生长在干燥的斜坡上。一株果实累累的葡萄藤勾勒出卡吕普索洞穴的富饶之景，而电影中的奥德赛正是在此被禁锢。进入洞穴需经过“柔软的紫罗兰和芹菜草之草甸”。
这种“草甸”有时被误认为是欧芹，但实际上是野芹菜 (Apisus graveolens)，其高度可达 20，同样在潮湿环境下生长繁盛。它通常是两年生植物。但在甜美的紫罗兰之间，即使没有女神的帮助，它也能轻易地播种并延续自身。卡吕普索从未担心过浇水问题。四股清泉向相反方向流动，滋养着
从上至下，从左至右：布鲁盖尔笔下繁茂的卡吕普索洞穴；“selfasse”或野芹菜环绕着她的领地；观赏性香帅梨，尽管奥德赛的父亲拉厄耳忒斯更偏好结果的品种
# 感谢众神
克里斯托弗·诺兰在他的《奥德赛》电影改编中，避开了荷马史诗中真正的主角
为她铺路。对于在今年夏季干旱中煎熬的园丁来说，她那繁花似锦的景观具有一种特殊的共鸣。在为这部电影做准备时，我刚刚发现一个问题：在诗中，当赫尔墨斯抵达时，《卡吕普索》正在她的家中唱歌，披着一件金色的披肩。她的壁炉中燃烧着香木，雪松的腿以及荷马所说的“thyre”。后来的希腊植物学家将其定位在北非和利比亚，将这个名字用于香橼树，其细腻的木材被富有的罗马人高度推崇为桌面木材，以至于几乎将其神话。如果《卡吕普索》在火上焚烧香橼，那么她已经开始了它的生态衰落。作为一名女神，她
罗宾·莱恩·福克斯 (Robin Lane Fox)
花园
可能已经将其从北非一路带回，而她的诗人荷马即便在公元前720年左右，可能也知道一种北非树木。然而，我在想，在香橼树被希腊人所知之前，他所指的“thyre”是否是指其他东西，也许是一种杜松。
《奥狄修斯》离开《卡吕普索》的岛屿，前往另一个传奇的法夏西亚 (Phasacia)，那里同样在永无岛 (Neverland) 中，但没有出现在诺兰的电影里。他在那里与国王的女儿年轻的普西克西亚 (Pussixias) 相遇，随后与她告别，这展现了极高的人文情怀，但电影同样忽略了她。在雅典娜的引导下，荷马将他带到她父亲阿尔基诺俄斯 (Alcinous) 的宫殿，并回到了宫殿前那座围墙花园。这是一个奇迹，在接下来的两千年里，它是诗歌和虚构作品中最受赞赏的花园。与《卡吕普索》一样，阿尔基诺俄斯永远不会被夏季的用水禁令所困扰，因为两股泉水全年在其中心流淌。
异域的梨、苹果和无花果在巨大的果园中生长，并且
奇迹般地在每个月都结果。这些树木就像波卡希尔 (Pocahier) 的基督徒区域，或是现代超市里全年供应冷藏进口水果的生物。橄榄也成熟了，这是荷马笔下罕见地将橄榄作为食物的记载，葡萄正被晾干以酿成酒。在葡萄藤之外，他种植了名为“poarse”的芽，具有一种“阴郁”。在其他语境中，“poales”可以指花蕾，但在阿尔基诺俄斯的丰产花园中，它们很可能是蔬菜芽。我无法同意那些认为它们是香草芽的人，因为那样就像阿尔基诺俄斯预见到了热爱芽的沃尔德斯通 (Woldstone)，莎士比亚的格林·格洛罗邦 (Green Glorobone)。
这座美妙的花园是用现在时描述的。一位伟大的学者认为，这种时态表明这座花园是一个小片段，是荷马从另一个语境（也许是一段对话）中移动过来的。我不相信这种说法：花园被描述在现在时中，仿佛它依然活在永无岛中，尽管它在常规发布中并非如此疯狂。
第三座花园为其收尾，并圆满了诗中的主要主题，尽管诺兰将其省略了。它同样是一个果园，在那里，《奥狄修斯》在陪伴妻子潘妮洛普 (Penelope) 之后，找到了他年迈的父亲拉厄耳忒斯 (Laertes)。失去了儿子，年老的拉厄耳忒斯在悲伤与痛苦中退隐到他的果园里，位于米娜 (Minna) 宫殿之外。就在那里，他失踪已久的儿子成为了一个正在劳作的人。
像拉厄耳忒斯一样，我在我的花园里拥有宁静的林荫道，种植着观赏性的香缇克莱尔 (Chanticleer) 梨，不过并非为了结果实而培育的品种。像拉厄耳忒斯一样，我穿着邋遢的衣服在花园里劳作，尽管我的头上没有他那顶谦卑的感恩帽。拉厄耳忒斯的腿上穿着更像农民的护腿，这让那些认为它们是
这些是金属槽的变体，被当作盔甲穿着，但在荷马创作时尚未见记载。我也穿着皮革护膝，不需要盔甲作为模本；它们是卖给那些跪在地上或在荆棘中劳作的园丁的护膝。一名罗马读者会认为拉厄耳忒斯正在给他的梨树施肥。实际上，他是在土壤中被刮伤了，就像我在思考是否也会有一位优秀的儿子归来时那样——不是从特洛伊的陷落中归来，而是从全球范围内对年轻/富裕公司的投资旅行中归来。
《奥德赛》通过告诉对方关于自己身份的谎言来“试探”他的父亲，但随后他揭露了自己的身份。他的父亲要求证明，于是《奥德赛》向他回忆起，曾经在男孩时期，父亲如何带他走进果园，并为那些有一天将属于他的前排树木命名。是“阿佛洛狄忒之傲”？还是“潘内洛佩之奇”？我想拉厄耳忒斯只是指了指相关的树，但《奥德赛》记得有多少棵。这是诗篇中最后一个伟大的认亲场景，一个基于果园中树木的场景。
这一场景此前已有铺垫，且无疑是荷马本人的创作。我不会破坏其凄美感，这种情感因拉厄耳忒斯尚未认出《奥德赛》，但记起他很久以前的样子并怀疑“他是否真的曾是那样”而增强。在较早的诗篇《哈德》中，荷马拉已经发明了动态图像，将其描述为神灵霍普图提乌斯在为阿基琉斯打造的一面金属盾牌上的场景，而荷马的诗句在我们的注视下将其赋予了生命。他的目光在那个时代之前就经常显得像在拍摄一样，使用了特写、远景和其他风格技巧。他一定会对看电影深感兴趣，但他永远不会称其为《奥德赛》——这部新的杰作，一个如此丰富且细腻的作品。
F'D Weekend
UK £5.40 Republic of Ireland £5.40
NATIONAL NEWSPAPER OF THE YEAR
SATURDAY 25 JULY / SUNDAY 26 JULY 2026
Does AI need a soul?
Inside AI's quest for morality by theologian and philosopher Carmody Grey
LIFE & ARTS
Iran war narrows Healey's options
● Fresh strife propels gilt yields ● Rises follow spending plans ● Fiscal buffer faces squeeze
DELPHINE STRAUSS, IAN SMITH AND LUCY FISHER
John Healey is under mounting pressure to raise taxes or find savings as fresh spending commitments and the Middle East war threatens to shrink the new chancellor's fiscal buffer to just £70m.
The flare-up in hostilities between the US and Iran has pushed gilt yields back up above 5 per cent, while Andy Burnham's new administration announced a series of measures to support households and small businesses.
The combination of higher borrowing costs, new spending commitments and weaker growth forecasts is eroding the government's fiscal buffer to a razor-
thin level, down sharply from the last official forecast of £25.6bn in March.
When Burnham became Labour leader last Friday, the headroom had plunged to just £100m, according to criticism from the Resolution Foundation.
If sustained, the rise in oil prices, gilt yields and interest rate expectations over the week would cut a further £1.1bn from the government's headroom against its commitment to balance day-to-day spending with taxes, said Mark Gregory in capital economics.
Andrew Wishart, economist at Sennberg bank, gave a similar estimate.
Meanwhile, the Resolution Foundation said the 5 per cent cut in VAT on
energy bills, the £2 cap on bus fares and the cut in business rates for pubs could add £2bn to public spending in 2025-26 – the key year in which performance against the fiscal rules is assessed. "The upshot is that other John Healey needs to find more money in the Budget, or be ready to put energy bills back up," said Ruth Carrizo, the foundation's director.
Healey has said he will work "in lock-step" with the prime minister, making fiscal control for "free duty." But one Labour Postteacher said: "I'm honestly not sure what John can or will do differently to create more single room."
Pressure from some in the Labour Party to raise income tax, VAT or
Inside
Burnham reports Page 3
Philip
Stephens &
Philip Auger
Page 12
▶ Janon
Ganesh
Life & Arts
▶ Clair Barnett
Money FT
national insurance would continue to rise, the person forecast. Another Labour official warned that the situation presented a "nightmare" for Healey, adding to pressures he already faced on defence and public sector pay.
Borrowing costs have risen during the latest oil surge, as traders price in inflation that makes interest rate rises more likely. "Events in the Middle East are narrowing the government's room for manoeuvre," said James Carter, co-head of chief director at W3A. "I think it's going to be a combination of raising taxes on the margin where [Burnham] can, and trying his best to make some savings out of welfare reforms."
Europe ablaze
Tourists flee
French resort
Firefighters struggle with a wildfire in Liège-Cap-Ferret in the Gironde region of south-west France yesterday.
Officials ordered residents and tourists to evacuate the chic resort of Cap Ferret as blazer rapid to nearby forests, in the latest crisis sparked by Europe's businesses. Some 40,000 people rushed to escape the peninsula along the Bay of Arcachon by road and emergency ferry.
President Emmanuel Macron said he had requested aid from the EU.
Meanwhile, Spain declared a national emergency as two fires merged close to Madrid, leading to curbs and evacuations affecting 40,000 people.
Wildfires page 4
Lunch with the FT
Met Office's Penny Endersby
LIFE & ARTS
Forever chemicals
A quest to detoxify your life
FT WEEKEND MAGAZINE
Burnham's regional privilege
Janan Ganesh
LIFE & ARTS
Taxing pieds-à-terre
Is a city pad still worth it?
HOUSE & HOME
New Zealand's rocket man takes on Musk and Bezos
A New Zealand founded company has set its upfits on the internet satellite sector dominated by Elon Musk and Jeff Bezos. Rocket Lads Sir Peter Beck has just turned out 5,000 for US-listed history, bringing a prized, made made network that might have taken 20 years to build our otherwise. When you compare us to Jeff and Elon, we are definitely the plucky upshot," says Beck. "You don't hear me talking about mixing antenatal ordering Mars."
Spotlight + more to
US tech companies slash 140,000 jobs this year despite massive outlays on AI
RATE REVIEW-UDIED — SAN FRANCISCO AND CLARA MURRAY — LONDON
US tech companies have shed nearly 140,000 jobs this year, continuing a wave of lay-offs even as spending on AI reaches on an already low.
Tech accounts for more than a third of announced lay-offs in 2026, according to FT analysis of company filings and data from executive outplacement firm Challenge, Grey and Christmas.
Amazon, Oracle, Meta and Microsoft made up almost 50,000 of those cuts, about 6 per cent of their workforce.
Sweeping job cuts have become the norm in Silicon Valley since the pandemic, when companies embarked on a hiring spree built on expectations of sustained demand for digital services. Many have reduced headcount while ploughing cash into AI infrastructure.
Tech workers' fate contracts with a relatively resilient wider jobs market. Although hiring has cooled since the post-pandemic boom, US unemployment is low at 4.2 per cent, according to the Bureau of Labor Statistics.
The Big Four "Supersalder" — Amazon, Alphabet, Meta and Microsoft — expect to employ a combined 87,000m of capital expenditure this year on data centers. Oracle plans to invest $700m in similar facilities in the service of clients such as OpenAI, Robi Jolanta, an ERC analyst, and tech groups were making up for earlier hiring bings and freeing capital for AI investment. "The money has to come from somewhere," he said.
Oracle ended fiscal 2026 with 21,000 fewer staff than a year earlier after cuts in March. They came as it faced rising pressure on its balance sheet. S&P this month lowered its credit rating to one
notch above junk, citing weaker cash flow and uncertainty over AI returns.
Alongside AI spending, tech groups have shaken up business units they had but on as growth opportunities. Microsoft used 4,000 rules this month, most in its Xbox unit.
Some tech companies have attributed cuts to productivity gains from AI.
"The typical attitude of tech executives has been to say that AI allows us to gain efficiency rather than admit that they won hired," said Earle. "Enertti, a professor of economics at UC Berkeley."
Despite lay-offs becoming pervasive, AI-focused start up costs as OpenAI are rapidly growing their workforces. "Employment in AI upspring at a rapid pace," said Moretti. "What tech companies are trimming in everything else."
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| STOCK MARKETS |
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COMMERCE |
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|
|
|
Jan |
Jul |
Aug |
Sep |
Oct |
| EBY 2025 |
7,508.87 |
7,508.87 |
7,508.87 |
7,508.87 |
7,508.87 |
| Branded Companies |
22,748.74 |
22,748.74 |
2,000 |
2,000 |
2,000 |
| Elon Musk Ltd |
17,000.00 |
17,000.00 |
2,000 |
2,000 |
2,000 |
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8,000.00 |
8,000.00 |
1,100 |
1,100 |
1,100 |
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5,718.11 |
5,718.11 |
2,000 |
2,000 |
2,000 |
| FTD-Land |
5,718.11 |
5,718.11 |
2,000 |
2,000 |
2,000 |
| FTD-Land |
5,718.11 |
5,718.11 |
2,000 |
2,000 |
2,000 |
| JBC |
8,011.28 |
8,000.00 |
1,000 |
1,000 |
1,000 |
| Jama Star |
25,000.00 |
25,000.00 |
1,100 |
1,100 |
1,100 |
| Brady |
2,000.00 |
2,000.00 |
2,000 |
2,000 |
2,000 |
| Deep263 |
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2,000.00 |
2,000 |
2,000 |
2,000 |
| AMD |
4,000.00 |
4,000.00 |
2,000 |
2,000 |
2,000 |
| AMD |
4,000.00 |
4,000.00 |
2,000 |
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2,000 |
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2,000 |
2,000 |
2,000 |
| GOVERNMENT BONDS |
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Jul-20 |
Feb |
1996 |
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1.1m |
1.1m |
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1.1m |
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1.1m |
1.1m |
1.1m |
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| US$ 1.1m |
1.1m |
1.1m |
1.1m |
|
| US$ 1.1m |
1.1m |
1.1m |
1.1m |
|
| US$ 1.1m |
1.1m |
|
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| US$ 1.1m |
1.1m |
|
|
|
| US$ 1.1m |
1.1m |
|
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| US$ 1.1m |
1.1m |
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1.1m |
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| US$ 1.1m |
1.1m |
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BREAT ENGLISH FURNITURE
THE NEWBY HALL PEDESTAL ALMOST CERTAINLY BY THOMAS CHIPPENDALE
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2
PT Weekend
25 June 2014 3:00 2008
NATIONAL
Migration
Drop in small boat arrivals divides experts
Some say Labour policy has led to decline while others flag wider picture
ANNA LOESEL
THE STATE, LADMA PROMISENT
Small boat crossings to the UK have dropped significantly this year despite a spell of fear, dry weather that usually leads to a surge of arrivals, in a tentative reprieve for the new prime minister.
There has been a 41 per cent drop in June 23, 2009 to 12,000 – on the number of people arriving by small boat to the UK between January 1 and July 23 of that year compared with the same period last year, as well as in home Office data.
The figures also show nearly 30 per cent on the year to date in 2014. Since the same period, 1,600 to 2,000, women and children have come to the UK by small boat, half the number of people will come to the same period last year.
The sustained drop is a welcome
development to Andy Burnham, allowing him to focus his early weeks in government on setting out his policy agenda rather than fielding attacks from civil parties about Labour in 2014 to drive down illegal migration.
Nonetheless, home secretary Shabana Mahmood – whom Burnham kept in post – has been reluctant to refer boat the recent drop because the reconscious the trend could change if there are increase in arrivals in the late summer and autumn months, according to people briefed on the thinking.
Substantiating her concerns, more than 500 million workers have arrived to small boats so far this week, including a record 165 people on a single boat in Thursday.
Migration experts believe the decline is caused in large part by a wider drop in certain areas of the United States and the Middle East. Irregular war crossings are down 40 per cent across mainland Europe this year, and by a fall 50 per cent across the central
Mediterranean – a key transit route for migrants destined for Britain – particularly in Libya, where crackdowns on struggling gangs have increased.
Experts are more divided about the impact of reforms to the system implemented by Sir Kate Sturmer's Labour government aimed at disincentivizing
Small boat arrivals are lower so far this year
Lumazines around to the UK
is usual (start) (500)
migrants, and of increased enforcement action, particularly in France.
Milton's Urban, a senior researcher at the Migration Observatory Hink-tank at Oxford university, said he believed it was likely some of the Labour government's interventions had played a role in bringing down numbers, pointing in particular to evidence of increased enforcement action by French police.
Home Office data suggests the French and British authorities have prevented over 42,000 crossing attempts since Labour took office and in April it signed a new deal to increase enforcement officers around the coast by 40 per cent.
Collins said Martin's case in, one out returns schemes, which started in August 2015, may also be acting as a deterrent. Though his numbers returned under the scheme started out very small, this time rises to nearly 500 in June of this year, equating to around 10 per cent of arrivals.
Marley Morris, of the IPPR Hink-tank, was more sceptical about the
street to which declines could be attributed to government policy, setting that "numbered out is the same."
When the numbers declined in 2015, the Conservatives halted it as a great victory for their policies but we then now an increase in 2014. He added.
Those working more closely with migrants remain clear eyed that the desire to make it to Britain has not disrupted.
The Usquis de Sautry, which supports asylum seekers in an aid around Calais, said: "There are not fewer people trying to cross, but they are more crossing that led because of police violence on the beaches."
The charity added that there had been fewer favourable crossing days this year because of the big waves and secondaries clubs.
It said there were currently around 1,500 people waiting to make crossings of the country to force France to take place than the yearly average of around 1,000.
Political agenda
Tories do not want debate on established party policies
LUCY FISHER
The Conservatives do not want "debate" about settled policies, the party chair has said, amid a ban on perspective candidates who refuse to sign up to its pledge to quit the European Convention on Human Rights and Congress on charges.
Kevin Hollerake told the PT this week that Trey Isade Scott Radomski was "clear and uncompromising", about the direction she wants to take the official opposition party, and that would be 500 were required to back her agenda.
Using her stance on informing human rights laws, ditching the 2010 target for Congress transition, absolutely setting welfare in local debates and reducing tax, Hollerake said: "We don't want anyone standing when not going to sit behind those very important policies. We don't want debate about those policies."
Another party official pointed out the Tories had already engaged in a "big debate" to formulate the pledges in the first place.
It marks the latest milestone in a tightened half by the Trey party, which has traditionally been a broad church, embracing "wets" or moderates with central positions on the economy and social policy, as well as more full-thousand splenotypes.
The pivot over the past 12 months has prompted warnings that the Conservatives are narrowing their appeal to the electorate. This year, former West Midlands mayor Dr Andy Street argued that the party had historically been most "proud" and "effective" when it was a broad church speaking to voters in the "quality ground."
Hollerake acknowledged that some moderate Tories would no longer be welcome to represent figures, which is currently pulling at an average of 20 per cent, behind those of the 21 per cent and Labour in 21 per cent.
While Radomski's party has lost significant ground to Reform in recent years, the Tories' approval rating have been creeping up in recent months as those of Hugh Farage's party have did. "There are people we like and admire who we feel don't reflect from it's end of our system," he said.
Radomski on Thursday declined that she was overseeing "a broad new party full of new people", and the party's second party head from two high-profile former Conservative ministers this month.
Former party co-chair Sir Grant Happe has been blocked from standing in a parliamentary candidate, as first reported by the Spaniards.
He previously served in six cabinet positions, including dinner secretary and business secretary, during almost two decades as a Trey MP leader he lost his Wolves's Hatfield seat to Labour at the 2024 general election.
Radomski's party's former Campaign Presidentanism declined to comment on the matter that was, insisting it would be inappropriate to discuss individual applications.
Some Trey allies of Happe warned it was "end" to find the consensus with his political, and aroused that he was aligned with the party's policy prospects, the declined to comment.
With citizen tentsie directions, Radomski said in an article this month that he was building, "a team with a plan that can run the country and deliver radical change to the 2010s" and "not a retirement home for the full politicians".
In recent weeks, Lord Gunn Harwell, former chief of staff of honours Theresa May in frowning Street and another well-known content, was stripped of the Trey's help.
Education. Accreditation
Online schooling sets up challenge for councils
Shortage of special school
places in England helps fuel
rapid growth in virtual classes
ANTHONY CONBY AND ANY SOMMITT
When hasn't daughter enrolled at an online school in April 2012, it initially proved a lifeline. Since the pandemic, the tests had struggled to attend her mainstream school owing to extreme anxiety and other mental health conditions. Logging out at home allowed her to learn to close triggering environment.
The 23 year old, who is seldom, had an educational, health and can plan with the local councils, which would lead her £22,600 a year placement at Cambridge home School District (CH). Also shared with the online provider the document that specified the daughter "have to be seen on camera while learning", and said she was invited that request could be accommodated.
But less than a term later, that was said her daughter could not continue at CH because the school had a "camera" of requirements. Sam later looked at the company's special education guidelines to and noticed that parts of it appeared to be lifted from other schools' websites.
One sentence stated erroneously that the online education group was maintained by Derby city council. The PT found another relevance to the school's "governors", despite the private company not having seen.
"It's a joke, an absolute joke," said Sam, who added to be referred to by her first name only to protect her daughter's "advice" and why that's have a law what that is doing."
CH is the first to comment on individual issues but said students were expected to have common on an inaction could "support learning, monitor with being and fulfil safeguarding responsibilities." They said the policies were "factors" documented that "the not represent Cambridge Home School Online's current operational policies or procedures." The documents were removed from the website after the PT contacted CH.
Sam's daughter is one of a growing number of children in the UK whose education has shifted to those, where an expanding marketplace of private, often was credited, providers is being funded by local authorities to teach children whose needs are not being met in mainstream schools. While her parents the
English councils pay out for online schooling
Spending on online schools, Data for councils first responded
to freedom of information requests with data for every year
1st of 215 part of the UK online project
Source: The UK, 2014; 2015; 2016; 2017; 2018; 2019; 2020; 2021; 2022; 2023; 2024; 2025; 2026; 2027; 2028; 2029; 2030; 2031; 2032; 2033; 2034; 2035; 2036; 2037; 2038; 2039; 2040; 2041; 2042; 2043; 2044; 2045; 2046; 2047; 2048; 2049; 2050; 2051; 2052; 2053; 2054; 2055; 2056; 2057; 2058; 2059; 2060; 2061; 2062; 2063; 2064; 2065; 2066; 2067; 2068; 2069; 2070; 2071; 2072; 2073; 2074; 2075; 2076; 2077; 2078; 2079; 2080; 2081; 2082; 2083; 2084; 2085; 2086; 2087; 2088; 2089; 2090; 2091; 2092; 2093; 2094; 2095; 2096; 2097; 2098; 2099; 2100
The number of
children using
a smart learning
approving and
there are
concerns over
the levels of
accommodation
and due
diligence
of providers
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No some areas, hundreds are taught online
Number of pupils in 2008-10 by top 10 (number)
- The 10th annual of the 2016 Annual Report
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25 June/30 Jan 2006
PT Wiceland
3
NATIONAL
Number 10
North is no
"ginmick",
insists PM
Mancunians enjoy unexpected upside as office block becomes seat of power
JENNIFER MULLANE - MANCHESTER
At Manchester proposed to welcome Andy Burnham to his new northern site and to see nearby office employees had already found an unexpected upside.
"I've been trying for three months to get them to get out of the area that appears," he said, apparently as much of his jacket blamed the ground on Thursday.
Aside from freshly watched governments, rooftop singers and a newly installed security camera upgrade his new office, the welcome when Burnham finally arrived yesterday was a desire to say the least.
Journalists and a smarting of success members of the public gathered from mid-morning outside Albert Square's home house, the unspent-coming 1960s office block in which Number 10 will initially be housed.
'This is very unusual, isn't it, to have the prime minister right there? You [don't] get that in London'
In the day wore on, the crowd got bigger. In, too, did the wedding parties! Heron House also houses the city's register office.
The wedding itself place in its building while Burnham did interviews and held his first National Economic Council meeting, bringing together regional measures and ministries.
The prime minister himself described it as "the best day of my life", before admitting later that his wife might not be interested by the assertion.
Critics, often "I am like I need," were wrong to discuss Number 10 North, he said. "They like to say, 'Oh, this will just be the new leveling cap, a number start of shortfield ginmick', and they'll do so, 'What's it going to start?'" he added.
Only one reporter from the Press Association was allowed to say just Burnham's thoughts on his first day in his new office. On social media, however, the prime minister was more active, posting about catalog ads such as this the chum the John Irsley in Jones.
In the day wore on, it also transpired that the Manchester Number 10 has its own version of London's Downing Street.
Andy Burnham at Manchester's own version of the famous block door.
black door. Not at the front of the building, whose revolving doors are guarded by armed police officers, but inside.
It does not lend anywhere but has been installed near the lift, as they so that visitors can pose most it as they would do so Downing Street. The prime minister duly did not.
But Burnham remains insistent that his new Manchester office could a more important signal to the rest of the country. "Actually, not it better that we have a North this that balances the South Pole of our country, where power will always be concentrated," he added.
"But all places have left that they are part of the national story, and that is what the government is going to work every single day to change."
For now, Manchester is getting used to be powerful guest, a month after waiting him pacifies as mayor Burnham has pledged to be here at least every Friday.
Britain's security apparatus will be adjusting, home in the city are already wondering how long the operation will remain in a building as different from Downing Street, facing straight on to Manchester's main square.
Heron House also houses part of GCSE, an area of government around its mouth and TV cameras. At one point, departing employees were applauded by expectant480ers anticipating Burnham's appearance.
Downing Street is the house, the flag and Latrina had stifled up ahead of Number 10's operation. At the house, the bar was doing a cutting work, even if the staff seemed somewhat hummed. Number 10 staff would not be getting a discount, confirmed one that they "would be welcome to break their follow-up party" then.
By his brine, the scene was far from the limited mix of politics and lobby journalists who trapped and threw Downing Street in London.
Grading students in a manchum the most of us in the town, with posing for photos, armed police, a homeless man telling books of plans and office workers on their hands breaks to going to part the prime minister. But ultimately, people should be day starting at not very much.
Of the cabinet, only Louise Haigh, a member's right hand, became, entered through the main revolving doors after a black through Albert Square building but not less shortly after 3:30am. Burnham entered out a side street, home regional mayor's room in the afternoon.
By the end of the day, hundredth has come to stand behind the small barriers fronting the streets, pissas and brick frontage. Finally, at early 7pm, he appeared and turned. And that was that.
Nevertheless, one woman said she had thought the crowd would be back. "People are sorry," she said, pointing out that any time TV cameras appear, a crowd pleases. "This is very unusual, isn't it, to have the prime minister right there? You would be get that in London." Philip Stagman says: O!
Philip Stagman says: O!
Louise Haigh, left, with Labour MP Anneliese Midgley at Ashton Town football club to celebrate the party's victory in the Wakefield by election
Burnham's rise to power aided by figures elbowed out by Starmer
Those 'pushed off the pitch' by former PM regrouped to form a winning team', says adviser
JIM PICKARD AND LUCY FISHER
With Andy Burnham settling in as prime minister, many of the most powerful figures in his new administration have something to common: they were just aside by the last incumbent of Number 10.
From Cabinet Office minister Louise Haigh to deputy Labour leader Lucy Powell and chief whip Anneliese Midgley, some of Burnham's most powerful allies had an eye to grind against Sir Keith Starmer.
When the former premier looks back at how he was unannounced out of Downing Street, he may wonder whether he laid the seeds for his own demise by creating a host of counter-facing the town in Number 10.
But the tale of how Starmer was forced out of power by those who left be turned by him also offers a salutary lesson for his successor.
"I think Keith Starmer's Number 10 had a thoughtless vindictiveness with which they pushed out politicians and advisers, they were pushed off the pitch and then they came together to form a new winning team," said John McTernan, a former Number 10 adviser.
Burnham, who pledged to bring Labour together in the speech accepting the party leadership but Friday, carried out a factional rehabilitating the day later. His purge of Starmer allies on the centre right of the party - including Steve Reed, James Jones, Peter Kyle and Lin Kendall - created a cadre of casted ex-ministers who will not easily forget.
Jones has already heard his teeth, using social media to point out that the digital 20-skines that Burnham said he would scrag in order to fund a VAF cut on energy bills was itself unfeasible.
The irony, one Labour figure said, is
that "Burnham has succeeded in creating a faction around Keith Starmer in a local first never succeeded in being in himself."
A Labour brother-in-law was kept a role in government in the new administration warned: "We all know that squads trouble in the long run."
Starmer was responsible for a multitude of sackings and resignations as he sought to keep his political project on track. Some of those pushed out played critical roles in helping shareholders to replace him and have been rewarded with John in his administration.
Soon as Burnham's closest ally, Haigh was forced out as transport secretary to
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Premier's backers and their links to his predecessor
Louise Haigh Forced out as transport secretary by Sir Keith Starmer just months ago the Labour department
and a decade-old fraud co-owner, she has spent the past year working as replacing him with Andy Burnham.
Lacy Powell Sacked as leader of the Commons in last September's banished reshuffle Powell went on to lead Bridget Pellizzoni in the way for the deputy leadership, in part by criticising Starmer's welfare reforms.
Ed Willard Starmer elevated his former ally when he tried to push him out of the energy department in September's reshuffle. This spring, he was the first cabinet minister to tell Starmer to am a timeframe for resigning.
Josh Simms Ran a pro-Swarmer Most-tank called Labour Together for was forced to put on a minister seat in the
November 2004 after press reports that she had pleaded guilty to fraud by misrepresentation in 2004 over a missing mobile phone.
Haigh was furious that she was sacked given she had previously told Starmer about the criminal record.
Starmer's letter to her after her resignation consisted of just three times sentences. Foreshadowing her role in his own demise, he finished: "I know you still have a huge contribution to make in the future."
Burnham has since paid tribute to Haigh as one of the key political operators among his return to Westminster, rewarding his with control of the Cabinet.
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November 2004 after press reports that she had pleaded guilty to fraud by misrepresentation in 2004 over a missing mobile phone.
Haigh was furious that she was sacked given she had previously told Starmer about the criminal record.
Starmer's letter to her after her resignation consisted of just three times sentences. Foreshadowing her role in his own demise, he finished: "I know you still have a huge contribution to make in the future."
Burnham has since paid tribute to Haigh as one of the key political operators among his return to Westminster, rewarding his with control of the Cabinet.
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out Office and the job of "first secretary"
— as do his deputy prime minister.
Lucy Powell, another figure who agitated for Burnham's return, was the most significant victim of a botched reshuffle last September — sacked as leader of the House of Commons.
Meanwhile, Starmer tried to push Ed Willard out as energy secretary, only for the former Labour leader to refuse to
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Greater Manchester Housing inequality in the shadow of skyscrapers dominates battle for mayor
JENNIFER MULLANE - MANCHESTER
In the mayoral empire presided over by Andy Burnham until just over a month ago, housing is dominating the race to become the successor.
All three main parties trying to win Thursday by election in Greater Manchester — Labour, the Green Party and Reform UK — are focusing on the subject in early houses for drug and illegalization of skyscrapers.
A decade on from his first mayoral campaign, in which Burnham filled off the juxtaposition between a growing decline and starting homelessness, political anxiety over housing has only become more acute.
Skyscrapers often became the intense symbol of an people feeling the benefit," Labour candidate Jim Craig, the frontrunner to replace Burnham, said the ITT.
As Manchester caused leader since 2002, her planning department has presided over the city center's growth in recent years. But she acknowledged the economic experience of outlying communities has left different.
"The reality is that we wouldn't have set the Good Grounds Fund up in Greater Manchester if we believed that the economy was working for everyone," said Craig of a 22hp pit of public finance, launched by Burnham last year, which intends to kick-start regeneration projects in every borough.
Manchester's home blocks are nonetheless off the most visible edge of a turnaround in the city center economy, and the product at a long-term effect by local leaders to return to more cost/there to a place blighted by dehalantit-albumin-10 years ago.
The city is growing faster than the national average debt a race could not reward a professional services and graduate retention. That growth has been mirrored, however, by a surge in family homelessness, as rests have risen and incomes have been squeezed.
So Labour's appearance now have the intention of Manchester's skyscrapers firmly in their sights.
The leftwing population Green Party has already been on the mark for Manchester this year, winning 17 wins in May in the council's Craig currently leads.
It is working in highlight the towers, in which two-bed agreements are currently hitting for as much as £6,000 a month, as a symbol of earnings rests and the use of taxpayer loans, including under Burnham, to pump-prime their development.
Candidate Geraldine Coggins said she would "take back Greater Manchester from big money," accusing Labour, which has said the city for decades — and latterly as mayoralty — of "growth for growth's sake" by providing over
"sharp towers and executive homes."
"We know that's not meeting the needs of people here," she added.
Rightwing population Reform UK are exploiting similar reservations. "While the city centre has prospered," said candidate Alan Astley's manifesto, "too many of the towns and communities of Greater Manchester have been left behind."
Like the Greens, Reform points to the city regime's housing investment Fund, a devolved pot of cash provided by the
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Conservative government in the city's leadership shortly before Burnham first took office. That land was intended to
lack other developers candidates by providing market-rate loans to private developers. Much of it was then used to fund residential city-centre tower blocks, in particular those built by the
developer Roader.
Reform's manifesto promises to "expose the developer contracts," accusing Burnham's administration to giving money to "a select few."
The pledge basis at recent legal controversy over the local Developers who Group, which did not benefit from any
town, has twice taken the Greater Manchester Combined Authority to court, arguing the money was handed out
unlawfully. The group has lost both times, most recently last month.
Craig said the skyscrapers remained in retentions most of years after Burnham first ran — promising to use the housing
fund for affordable homes, which he did not ultimately do — because inequality is a "generational" problem. She is
promising 30,000 new affordable homes, capped at housing benefit rates,
by 2029, as well as the ability to prize more public land out of the government.
Craig also was an elected power to maintain the Margate's Thankew era Right to Buy Scheme, which allows council tenants to buy their homes at a heavy discount.
Both her main opponents are also pointing to affordable housing in the answer. Reform is concentrating on re-sterilising existing social homes — before is a landlord who has built a career on
doing up homes — while the Greens are, like Craig, promising tens of thousands of new affordable homes.
Craig said the promise would cost £30m, funded through borrowings and public financing such as the National
House, which is a small house, the homes could be built without the use of growth/land, she insisted. It echoes a similar promise
by Burnham in 2007, one that he had to speak swung to a lack of available
knowledge/land.
Two polls carried out so far, by OneGov and Find Out Now, show
Labour winning comfortably on the second round of voting, with Reform and the Greens vying for second place.
4
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25 June/26 June 2006
INTERNATIONAL
WORLD
WEEK IN REVIEW
ECB discusses rate rise as flare-up in Iran leads to 'serious developments'
European Central Bank policymakers discussed an uplift in borrowings costs to combat rising oil prices, after leaving interest rates unchanged.
Some governing council members "asked themselves whether we should not consider a false", said ECB president Christine Lagando.
Lagando warned the rupture in the US-Iran consoles had led to "serious developments" in commodity exchange.
The ECB last month increased borrowings costs by a quarter-point following increases in energy prices.
“Borrowing by questions about the future, Lagando said: “You are not playing out the back of me before 2015!” She declined to commit to staying until the end of her eight-year term.
Erdogan faces challenge from new party led by ex opposition leader
Turkey's President Recep Tayyip Erdoğan faces a challenge from a new political party. Öngör Özd, who was removed as leader of the main opposition Republicans People's Party, or CHF in Asia, is looking to unite the country's fractured opposition ahead of the next presidential election, which is scheduled for 2020.
Polls have suggested Özd's unnamed new party would beat Erdoğan's governing justice and Development Party (AKP) in a vote today. His removal as CHF leader by a court order was said by critics to be politically motivated.
Özd faces the risk of prosecution as part of a continuing legal crackdown by Turkish authorities against critics of the government.
Millions cheer Spain's footballers in Madrid after World Cup triumph
Close to the struggle, according to government estimates — many dressed in the jerseys of Spain's national football team and sewing out and gold flags
— gathered in Madrid to see the citizens people in an open-bye bus and outfronts Spain's World Cup in the triumph over Argentina in New Jersey.
Maley questioned in closed session on Capitol Hill over ties to Epstein
The former Eastman chief executive in the Maley faced questions from Lawmakers in Washington over his ties to convicted two offender Jeffery Epstein. Maley had agreed to a closed-door interview after a request from Josep Carner, Republican chair of the House oversight committee.
Maley did not respond to the media as he arrived at a congressional office building. His lawyers did not respond to requests for comment. The committee also issued two legally binding subpoenas for month in Leon Black, co-founder of Apollo Global Management. He had refused to answer questions. Kathy Baermeier, former top lawyer for Goldman Sachs, last week took part in a closed-door interview.
Police clashes
Modi struggles to calm student anger
Pressure grows on PM as protesters throng streets of several Indian cities
MICHAEL STOTT AND JYOTIANA SINGH
NEW DELHI
Student protesters thronged the streets of Indian cities including Kolkata yesterday, increasing pressure on Prime Minister Narmalka Modi as he tried to calm growing youth anger over education and joblessness.
One of the biggest demonstrations was in Kolkata, where a crowd estimated by witnesses to be more than 300,000 strong marched through the streets and later clashed with police, who used only gas and blemish.
“It was a massive protest [and] very spontaneous in nature,” said Sayyutun
Ghoshi, an author who attended. “There were students there from very middle-class backgrounds, not politically active.” Smaller protests were held in Mumbai, Bengaluru, Hyderabad and Delhi, among other cities.
The demonstrations have been organized by the upstart “Cockroach” movement, which started as a satirical online campaign but has evolved into a upbraising force for youth anger after questions from a national exam paper were lauded in May. Protests have grown this week as mainstream opposition protest joined the outcry.
The police responses in Monday's protest in Delhi, when thousands of students were tear gassed and beaten with sticks, has increased public anger.
Modi's government has made several concessions in protesters that has not yet met their central demand for the enig-
sation of the education minister, Dharmendra Pradhan. Two government ministers and protest representatives yesterday afternoon and asked for more time to consider their demands.
The prime minister, who has been in office for 25 years, addressed protesters directly for the first time in a video message late on Thursday. He pledged to set up last exact county to ensure swift justice and harsh punishment for those who had leaked the exam papers and removed the top civil servant in the education ministry.
“I knew a few many paper leak is not a small issue,” Modi, 75, said. “For millions of students and parents it is being painful. That is why . . . we have taken several steps. Those guilty have been arrested and are in jail.”
Protest leaders dismissed his gesture. “Modi had to shoot a video in selfie
‘This is not just a protest any more — it's a youth movement against a broken system’
mode at Llam,” Cockroach Joints Party (CJP) spokesperson Ashutosh Ranka told reporters at the main protest site in Delhi, the Jaatar Mantur observatory. “This shows the immense pressure on him,” As he spoke, protesters chanted “this is not just a protest.”
The authorities shut down 27 metro stations in the capital yesterday and users reported disruptions to mobile internet service near the protest. Fresh controversy erupted when police installed monitoring cameras using facial recognition software to identify protesters, something officials said was necessary to spot criminals.
“There are no people who are staying silent,” the CJP protest on its X account. “This is not just a protest any more — it's a youth movement against a broken system.”
Opinion use FT View page
Climate change. Leisure
Heat spurs demand for Nordic 'colocations'
More holidaymakers head
north in search of respite from
Europe's high temperatures
MARINOW — BRUSSELS
STEPHANIE STACEY — LONDON
More holidaymakers are opting to spend their summer vacations on “colocation” in the Nordic countries as traditional market hotspots in southern Europe endow successive series of extreme heat as a result of climate change.
Booking platforms, airlines and tour operators have reported rising demand for cooler destinations, with travellers increasingly looking to spend their holidays in Norway, Sweden, Iceland, Denmark and Finland.
Online travel agent Törsvege said UK bookings for July and August were up 16 per cent year on tour for Norway, 27 per cent for Sweden and 27 per cent for Denmark, even as many Mediterranean countries remained the most popular holiday destinations in Britain.
“While we're not yet in the point where the map of European summer travel is being outcross, the edges are certainly shifting,” said Törsvege that executive Johannes Thomas. He predicted that cooler destinations would continue “getting greater in climate irregularities” because the norm rather than the exception” is a warning world.
On the Norwegian archipelago of Svalbard, where temperatures this week are between 70 and 80, expatriation tour operator Rancamp Englivers said heatwaves had sparked fresh interest in visiting the Arctic.
“Some Americans have been really quick at booking flights. They call us and the other some from the US will be one or two weeks,” said Birgitte Voglund, a destination manager at Rancamp Englivers, which runs high end remote wilderness trips at the island costing up to 500,000,000 US\$2700 for five days, not including flights.
The shift comes after another year of extreme heat across Europe. After recent temperatures in May, the UK in June hit a new high of 37.5C in Suffolk, nearly 3C above the previous monthly record, while France recorded in hor-
tical June since measurements began about 80 years ago. Spain also set national heat temperature records, with parts of the country exceeding 40C.
Booking.com noted rising global interest in summer breaks in Scandinavia, Recent heatwaves sparked a particular surge, with UK searches for booking.com in the three weeks to July 4-6p more than a third compared with last year for July and August summer breaks in Norwegian towns, including Tromsø and Brunei, and the Swedish cities of Malmö and Lund.
UK tour operator JAG said that since launching its first route from London to the Norwegian city of Bergen in 2024, it had almost trebled capacity, while its Iceland programme had also seen “significant” growth.
The increased demand has spurred local tourist destinations into action. Eleven Dypfar Furru, a 15-room off grid ledge on Iceland's remote Troll Peninsula, said occupancy between June and September was up nearly 50 per cent compared with 2014, while holidaymakers were also staying longer. “The ‘colocation’ shifts is very real for us, and it's accelerating,” said Ian Wick, managing director at Eleven.
Tourists visiting Nordic countries are on the rise
5. change compared to same period in previous year (Jan-Apr)
Intelligence, one of Norway's largest travel companies, said demand for trips to Norway and Svalbard had risen in travellers sought cooler, more active holidays to “stable and safe” regions.
The coastal cruise operator, which operates a trip stopping at 54 small haircut along the Norwegian coast, expects total plant numbers to rise more than 15 per cent in 2026 compared with last year, with bookings for 2017 more than 33 per cent ahead of the same point last year.
“In an unsettled world, the Nordic countries are very attractive,” Hedda Folla, Hurtigrunters chief executive, said the FT: “The more unsettled people are, the more they will travel north.”
Some tourists are going further still; paying to sleep in a room kept before now in the middle of summer.
At Sweden's Iceland in Jokkmjörer in Swedish Lapland, 200km north of the Arctic Circle, chief executive Marie Harry said demand was rising from travellers drawn by the possibility “to sleep and their geography” (heavy-said “to be able to sleep in a minus 6C room in the middle of summer seems to be a thing for people. It's a despotism and a[{"box_2d": [820, 511, 974, 551], "label": "textcaption": "Iceland, which mainly attracts guests from the US and the UK, has 18 cold rooms and 78 warm cabins and rooms, where visitors can sleep on ice in summer before retreating to warm cabins, summa and the midnight sun outside."}]
But some last the Nordic countries have been in the absence of Europe's overcrowded tourist hotspots.
Smaller destinations can lack the infrastructure to handle large influence of visitors, from visitors to warm heat. Others say the shift should not be overstated as many consumers still prioritize traditional summer destinations.
Lighthouse, which tracks hotel and flight demand, said recent heatwaves had triggered a jump in each face for holidays in the Nordic and higher altitude destinations, the former destinations in southern Europe such as the Algiers in Portugal still dominated actual bookings for July and August.
“The recent heatwave has certainly prompted more conversations . . . but it's not an simple as swapping Spain for the future,” said Dr. David C. J. and Dr. David C. J. and Dr. David C. J. and Dr. David C. J. and Dr. David C. J. and Dr. David C. J. and Dr. David C. J. and Dr. David C. J. and Dr. David C. J. and Dr. David C. J. and Dr. David C. J. and Dr. David C. J. and Dr. David C. J. and Dr.
Evacuations
Wildfires force 40,000 to flee French resort of Cap Ferret
LESLIE A BERGUE — PARIS
BARNEY JOYSON — MADRID
French authorities have ordered residents and tourists to evacuate from the chic outside resort of Cap Ferret in the country's south west as wildfires rage in nearby forests, the latest crisis in a summer of extreme heatwaves.
The interim ministry said yesterday that 40,000 people had left or were in the process of leaving the peninsula along the way of Arcachon, both by road and by emergency ferries.
Only one main road serves the length of the peninsula, as traffic was already backed up 30 it-cases, departures will be possible only by boat.
About 800 firefighters were deployed to France, a popular tourist destination near Bordeaux, after the flames crossed a critical distance line. One firefighter was injured and 10,000 hectares of forest have been, but another authorities.
The firefighters have been heard. In the town of Liège-Cap-Ferret, holidaymakers evacuated from nearby campettes were taken to shelter in greenrooms.
Faced with a situation of “extreme
tension”, President Emmanuel Macron said he had requested aid from the EU, adding that Croatia, Portugal and other countries would send aircraft to help fight the fires.
“This concrete, rapid and quiet way, support a previous during this ordeal,” he wrote on X.
Across Europe, three successive heatwaves have caused drought and dried out vegetation, raising the risk of fires.
In Spain, the government declared a national emergency as wildfires burned
out of control in areas close to Madrid, forcing 40,000 people to be evacuated or confined to their homes.
Pedro Sánchez, prime minister, called the situation “dramatic” as the flames (typed through the main of the)caves in municipality as several dozen kilometres to the west of the Spanish capital.
By early afternoon yesterday, two separate wildfires had spread so far that they merged into a single blaze.
Fernando Graciño-Mañ攻关, Spain's interim minister, said the top
priority was to stop them continuing with a third blaze to prevent another increase in the intensity of the flames.
Asked Ozar Ayuso, president of the Madrid region, which includes rural towns, a national account for capital, called the fires the worst in the area's history.
The emergency services warned that high winds would complicate efforts to tame the blaze.
More than 270 firefighters, forest rangers and members of the military's emergency unit have been deployed to the region. No deaths or injuries have been reported.
Last month was the hottest June on record for women's threats to a region that is warming at twice the global average as a result of climate change.
France has been particularly hard hit, with more than 20,000 hectares burnt to date, which was roughly three times more than the same period last year,
accidentally, the former destinations.
Two French firefighters died this week fighting another blaze near Bordeaux.
Wildfires have also broken out across Europe from the UK in Norway.
People on the pier in Arcachon after leaving Cap Ferret
15.10.2016 10:00
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Ukraine hits a Putin weak spot with attacks on online retailer Wildberries
Drones strike warehouses of Amazon style distributor, bringing war home to ordinary Russians
RAJ GEBBINS - WASHINGTON
ANALYSIS STORMS - REEVES
Russian online retail group Wildberries pitched for President Vladimir Putin that it could be more than just the country's answer to Amazon. It could also challenge the US-led payment system around the world.
But after Ukrainian strikes hit five of the company's war-torned, the past week, Wildberries has instead emerged as yet another weak spot in the Russian president's war economy. The attacks are part of a new Ukrainian campaign using largely dangerous advances to long-range drone technology to bring high speed of Putin's economic benefits to the US, home to ordinary Russians.
Ukrainian strikes have damaged Russian refineries in the heart of Moscow and active many at Henness, leaving one of the world's largest energy producers to introduce rationing at the pump and import law.
Now, the attacks on Russia's economic sector are threatening to spend one of the country's largest companies, which reported turnover of Rbcl.2m ($1.9bn) last year and pitched an audacious global expansion to Prussia in 2016. Wildberries is a mass-market platform aimed at Putin's core electronics tower income Russian living outside Moscow and in Petersburg, its collection points extend late small towns and villages, where they have become some of the main hubs of local life.
The strikes, which began last Saturday, have killed at least nine people and reportedly destroyed several billion dollars in US$ of the world.
In the latest attack, Ukrainian drones struck a Wildberries facility in the Leningrad region near St Petersburg yesterday morning, pushing a massive blaze. The regional governor, Alexander Drozdinsky, confirmed the attack and said three people were injured.
Alexander Kolynati, a director at Eurasia Group, said the economic impact would go beyond the last two months. "The loss of the goods will put thousands of traders out of business, resulting in unpaid taxes, debated loans and the Rbcl.2m cost."
Ukraine has justified the attacks in solidarity in the Russian strikes as the warehouses of Nova Scotia, Ukraine's private sector. Volodymyr Zelensky, Ukraine's president, said Wildberries' legion, network had been used to keep the U.S. economy with "drone components, navigation equipment and other gear."
Though Dmitry Pockov, Putin's spokesperson, denied this, offers on Wildberries' platform after government has to be used to make combat drones or at least supplies for soldiers at the front, such as body mount and helmets.
The goods, many of which are imported from China and fall under women's labor law provisions, are popular among grassroots supporters of the
tender billions after strikes on Wildberries in St Petersburg yesterday.
Below, a Wildberries pick up point in Moscow - REEVES
war who crowdfund to equip Russian troops and build rudimentary drones as part of the "people's military industrial complex."
The vast majority of the goods sold on Wildberries, which built its reputation as an online clothing retailer targeting women, have no military use. The first four strikes destroyed about 414,000 square meters, or 6 per cent of Wildberries' storage space, according to Russian
newspaper Kommersant. Rebuilding the warehouses could cost the company about Rbcl.2m ($160bnm), it reported.
Many small businesses that sell their goods on Wildberries, which controls nearly half of Russia's convenience market, have lost their stock in the strikes.
Russia's edition of Forbes reported that the first strike, on warehouses in Richmond and Moscow and listened to the result, about could have destroyed between Rbcl.2m and Rbcl.2m in a
proximity - a new analogous to Wildberries' Rbcl.2m program did in 2010.
Wildberries' killers posted emotional videos on hologram saying that businesses had been wiped out overnight.
"Right now, 4,000 of my fur coats, worth more than Rbcl.2m, are burning in the warehouse. What can I do to help myself?"
"Nothing," said the captain over the video of a writer called Tatiana Mikhailova, as she stands by the roadside with a column of smoke rising behind her.
One founder of a cosmetic brand said she had lost Rbcl.2m in the strikes. "I can't calm down. I'm in shock. Every entrepreneur is in shock. I have no strength left," Evdiana Dodo posted on
"Right now, 4,000 of my fur coats, worth more than Rbcl.2m, are burning in the warehouse"
Wildberries
WITH
Instagram. "We only found out from the news that if something blows up the warehouse, they won't withdraw us to bring things."
I am than two weeks before the first strikes, Wildberries had changed its terms, absorbing those attacks as price support and absorbing itself of any obligation to compensate merchants for lost goods.
As public anger mounted, Tatiana Kim, Wildberries' co-founder and chief executive, has said insurers are unwilling to move damage from those attacks but promised to compensate 18,000 of what she said were Wildberries' "small and medical products" killers.
The programme, according to Kim, will pay the sellers as if the destroyed goods were still being sold at the same price and price as before the drone strikes. But sellers in group chain on retail-industry type brands complained the payments were only a small fraction of the worth of their destroyed inventory, according to exiled independent news-site signatories. One seller wrote that Wildberries had paid him just $1,000 and after he lost Rbcl.2m worth of goods in the Richmond line.
Daytime raid
Probe opened into Kyiv arms fair organisers after deadly missile strike
CHRISTOPHER MILLER - KYIV
Ukrainian persecutors have opened an investigation into why a defence exhibition was held and presented publicly despite the risk of a Russian strike, after a ballistic missile attack on the event killed at least 10 people and injured in some more.
Roufan Kravchenko, Ukraine's provocative general, said at least 10 people were killed in the case daytime Russian on the 26th of December.
The strike targeted a military training ground where a defence exhibition was taking place, according to members including defense company officials.
Kravchenko said a way crimes case had been opened against Russia over yesterday's attack - as well as criminal goods only "possible improper performance of official duties" related to the organisation of the event.
"War does not exempt one from responsibility for managerial decisions," he said. "On the contrary, it requires maximum professionalism, custom and awareness."
The investigation would "establish who made the decision to hold the event, who against the income, time and format of its conduct, had recently measured were planned and whether risks were properly assessed," he said.
Valery Dorevich, founder of the defence company First Contact, told a Ukrainian TV channel that some of his employees had been present.
"The strike on one of the training grounds on the air in the exhibition was taking place, was very serious," he said. "Our acquaintances were there. Unfortunately, we have casualties and destruction."
Residents of Kyiv caught in the open during the working day dashed to underground motor stations and car parks to exit out the unusual attack - Russia typically launches strikes in the night to impede the capital's defences.
The Ukrainian Council of667 in the Massachusetts said in a statement that the strike "occurred on a situation where representatives of the Ukrainian defence industry were located." Unfortunately, these are dead and wounded," he added.
It asked attendees to refrain from distributing photos, videos and information about the event and its location "that may harm people, the work of the defence industry and the investigation."
It did not disclose the exact location of the event. However, an event advertised online by Armada, an association of manufacturers of unnatural systems and associated technologies, listed a "defence driven day in defence service" set to take place near Kyiv yesterday.
"Organising mass military events in a ballistic strike zone in the open air - helping the Russian kill people," he felt thereonks, a former defence ministry adviser, wrote on it after the attack.
Middle East. Vital waterway
US struggles to loosen Iran's stranghold on Strait of Hormuz crossings
Attacks on vessels underscore
Washington's challenge to find
a short term military solution
ALCOA VANDER, AUSTIN ADAM AND
RALEIGH WHEAT - LONDON
As the US and Iran battled for control of the Strait of Hormuz, two tankers belonging to Greek shipping company Dynacom approached the waterway under cover of darkness.
Staying close to the Gramat coast, the vessels - Kervanathan and Achchou - attempted the crossing on Sunday night, the only two ships to do so, according to people with knowledge of the situation.
Despite ruled-ins of U.S. support and days of heavy attacks on military targets in the US, Iran's aim was to be a new and unique key to human relations.
The attacks underlined and just the finger to ship attempting the crossing but got difficulty Washington will face in keeping open the strait military after a fragile crossing with Iran broke down thousands.
Donald Trump's administration has sought to deploy US air cover to ensure that ships can continue to transit the Gulf via the so-called Gramat coast that runs along the strait's southern edge, helping keep critical supplies of oil flowing.
The US president on Wednesday threatened to destroy an Iranian bridge or power plant "any time the Islamic
republic of Iran shoots at a ship in the Strait of Hormuz."
But former naval commanders and shipping executives say that it would take weeks of US strikes to convince were shipowners that an Iranian missile or drone would hit their ships - and potentially even longer before they were willing to take the risk required to find it.
"It's an impossible conundrum," said Tom Marpe, a retired UK naval commander. "The US cannot drive that threat down to such a level that the strait can reopen."
Tobias has misled that it must retain control of traffic through the strait until the war is over, demanding that ships co-ordinate crossings with Iran and targeting those using what it deems the "unauthorised" "Gravit route."
The US was much here from hit by Iran since the US restarted its nightly strikes on the country on July 8.
Iran has predominantly targeted tankers, using attack drones such as the low-cost Shahed Chk. It has also used cruise and anti-ship missiles that skim the surface of the water, often hitting ship engines close to the crew accommodation, and deployed dozens of high-speed small craft.
Tobias's offensive appears to have achieved its slow-to-projecting power over the waterway. Of the 14 coasts through the stratum Sunday, according to maritime data platform Windward, the only two that did not go via the Iranian coast were the two Dynacom tanker that were hit.
In the week to July 19, there were about 30 tanker transits via the stratum, down from more than 90 a week earlier, according to shipbroker Kramat. Of these 30 tankers, around half were Iranian ships linked to sanctioned oil trading.
"Hitting the Dynacom vessels was a game-changer, and over the wrecking days when we prepared to take risks will need more than headlines about power to come back in," said Amrita Iros, founder of consultancy Energy Aspects. Gulf countries, which have been
West Bank confrontation
Israel prepares 'major' operation after deaths
Israel's military said it was preparing a "major" operation in the occupied West Bank after a confrontation between Jewish settlers and Palestinian residents in which at least six people were killed.
Four Palestinians and two Israelis died in the violence near the village of Taft yesterday, the deadliest incident for months in the Palestinian territory. It was followed by settler attacks on multiple Palestinian villages.
By yesterday afternoon, Israeli forces were surrounding the nearby town of Nabka in the northern West Bank, with the military saying it had postponed leave for soldiers and was deploying additional troops.
bolder throughout the conflict in sending ships through the striat, have also been given cause to black twice, added Nethya's Unit, girded head of commodity strategy at BBC Capital Markets.
"The risks of saying us to Iranian demands to use them [shipping] issue are higher," she said. "If you do not consider it with them, is that a pretext for Iran to start targeting your destination facilities?"
The disruption in the striat has come as the Iranian-backed Irouthi relief group in Yemen said it would blockade
Prime Minister Benjamin Matanapho ordered the military to carry out a "formful" operation and directed Israeli authorities to accelerate the application of settlement outposts on the Palestinian territory.
The violence comes at a time of heightened tensions in the West Bank, with Matanapho's the right government expanding settlements in the territory and Jewish settlers attacking Palestinians in an attempt to drive them off their land.
Ghanaan Dughan, governor of Nabka, told the official Palestinian news agency Wafa that the fighting began when a group of armed Jewish settlers attacked the village of Taft.
The Israeli military said a Palestinian initiated the incident after taking the weapon of the left the settlers and opening fire.
James Shaffer in Jerusalem
ships sailing to us from Saudi Arabian ports, to effect cutting oil flows out of the Red Sea port of Taisha, the kingdom's only major oil terminal outside the Gulf. At least eight tankers appeared to have altered course away from the Red Sea corridor on Tuesday and Wednesday in an apparent response to the Irouthi threat, though several dozen made the crossing.
The Irouthi said late on Wednesday they had carried out a military operation against two Saudi oil tankers in the Red Sea, using ballistic and cruise missiles as well as drones.
The growing threat to oil supplies pushed former exile to a high of $925 a barrel on Thursdays, breaking $100 for the first time since May and underwriting Trump's hopes of cutting had prices before November's saddlers declines.
Since the complete full report, US air strikes have targeted Iranian military and surveillance posts along the country's southern coast and even bridges and other tolerant routes in the region.
But it could take weeks of an entry in 2014 to 2016 strikes a night for this strategy to sufficiently degrade Iran's capabilities to launch drones and missiles, according to former US Navy war admiral Mark Montgomery.
He also said that US's ability to reduce the similar threat would probably depend on how successful it was in taking out the limited number of mobile launches between the Red Sea.
Increasing the distances from which Iranian drones were fired would make it easier for patrolling US fighters to intercept them, he explained. The US is reportedly sending more F-16 and F-32 to the Middle East to provide air cover. "It's a hard call challenge to do airborne intercepts at short range," said Montgomery. "But if you want to move them back 15 miles since Iran, you just made the job safe easier."
It was, however, to able to see you look over vessels seeking to make a dash through the waterway even with relatively simple equipment, including small maritime trailers from fishing ships.
It has also been able to take its drones and missiles in "unworked positions, whether on the islands or in coastal areas," said Farian Nabilin, an expert on the Iranian coast because of the Washington Institute for Near East Policy.
Kevin Donigan, a former commander of the US F456 Force, said Iran only needed to take a "dressing strength" to keep insurance rates, which have risen since the ceasefire ended, discouraging high life shipowners.
Shipping executives fear Trump will eventually try to claim a return, that the US will pull back its troops and ships will be left facing a fee paying regime instigated by Iran and Oman. Tohran was able to damage its foreign ships "service fees" to the main in future.
"The big things is there are we going to do so as part of the American's new withdrawal on reduced their capability in the region," said one banker in history executive. "It looks like we're looking down the route where there will be a fee to be paid in some way."
© 2008
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INTERNATIONAL
Trade measures
Europe better off as Trump reset tariffs
Beard the big lower as US president imposes new regime after levies expire
PETER VICTOR AND LAURENTIN LONDON
PAULA TUMBO - 1-800-333-1111
KANE WALLAMS - 1-800-333-1222
European countries have emerged as relative winners of Donald Trump's latest news in which his tariffs had after it was struck down by the US Supreme Court this year.
The US president on Thursday hit 60 trading partners with tariffs ranging from 10 to 12 in per cent, just as previous generations of风险 are estimated.
Several Trumpian nations are better
off under the new regime, according to an analysis by the independent monitoring body Global Trade Alert, with rates for France, the UK, Germany and Spain all falling.
By contrast, many Asian and Latin American countries are worse off. Rates for China, Vietnam and Indonesia have increased by between 0.5 and 2 percentage point, as have rates for Chile and Colombia. By far the biggest lower in Brazil, which the Trump hit with separate tariffs this month, its effective tariff now jumps from 15 to 17 per cent, according to the analysis.
The duties show how Washington is leading new ways to maintain Trump's flagship trade policy even after the
Supreme Court ruled in February that the levies imposed after the "Sheraton day" event in April 2010 were illegal. George Riddell, managing director of the Gaydos trade consultancy, said the move would protect the administration against the risk of another blinded collapse of the tariff regime.
By practical offer, Jof the new tariff, is to force litigation to be704 more specific. A successful challenge to the action against one economy would, on the face of the nation, be unlikely to normal the other fifty years. The event in a new to clients.
The new regime, targeted as countries the administration claims are failing to "impose and effectively enforce" a ban
on impetus made simply to cut fashions, and on 10 per cent global tariffs announced as a struggle after the top reset's decision in February.
The overall effective tariff rate holds steady at 10.6 per cent - about the same rate as before - but significantly below the 1.63 per cent rate at the time of the Supreme Court ruling.
Johannes Fritz, Global Trade Alert's chief executive, said some European countries had emerged as winners due to the end of their experts in the US and whether they took advantage of the many exemptions for products such as thousands, cash and pay loss.
Belgium, Spain and Italy gained the most, with their turn-dropping between
Land 1.2 percentage points. "Italy and Spain benefited from a drop in tariff from 1.2 per cent to 1.6 per cent garments as well as handbags," Fritz said.
The EC struck a consultancy tone, welcoming the fact that the new rates did not exceed the 15 per cent ceiling agreed when the US and EC struck a deal at Trump's fourthary gift event in Scotland has summer.
But the reserve may only be temporary. The EC is beased for a separate investigative state "structured excess capacity and production non-standardising activity", which is expected to lead to more duties. Taken together, these rates result in an overall higher rate than the 15 per cent ceiling.
Strategic build-up
The US Africa and India lead push to sexkiple fuel reserves
GREENVIE COTTRELL - LONDON
India, South Africa and other developing nations are making plans to increase strategies, fuel reserves after the closure of the head of the man undefeated the power of discipline held by China, the US and other developing economies.
There is has proposed to litigate strategic build-up of crude in decades, while India's largest state-of-the-art group producer, OMC, announced a significant expansion of national discipline as part of a wide government build-up.
Big important, the US, however, is the Philippines have also recently advanced plans to build official buffers after the Iran war left countries Asia and Africa facing potential shortages and the United States fuel supplies. Many developing countries do not have reserves or are only able to cover a few days of national demand.
But these reserves would take time and money to build while many countries are again facing disruption in the short term after renewed Russian attacks on shopping in the streets, through which a fifth of the world's oil supplies were shipped before the war.
"Countries that import all their oil are very vulnerable not just to price swings but also to produce becoming unavailable," said Nicolas Jaygour at investment manager Ninety Scott.
"From a national security perspective it's a non-negotiable" to build up reserves, although many governments were also spring to end back on land side-slice that combined demand, he said.
With the Indian and South African combined measures adding up to about 20mm barrels of oil, the new stockpiling plans by emerging economies would be significant but would still struggle to plug shortages on the scale of the three涨 levels.
"The announcement seen from South Africa and India would normally be considered to be the first time of the year in the world," said Neil Crosby, head of oil research at Ipsos Inc.
The US, however, is the first time of the year in the world's oil supply. The US, however, is the first time of the year in the world's oil supply. The US, however, is the first time of the year in the world's oil supply.
The US, however, is the first time of the year in the world's oil supply.
The US, however, is the first time of the year in the world's oil supply. The US, however, is the first time of the year in the world's oil supply.
The US, however, is the first time of the year in the world's oil supply.
The US, however, is the first time of the year in the world's oil supply.
The US, however, is the first time of the year in the world's oil supply.
The US, however, is the first time of the year in the world's oil supply.
Midterm elections. Senate
Democrats make late switch in battle for Maine
Party to back 'working class fighter' in race after previous candidate' forced to withdraw
LAURENTIN HARRIS - RANDOLPH, MAINE
The Democratic Party's hopes for taking back control of the US breast may soon end with a graft little generation bigger from the North Maine Woods.
Troy Jackson, a former state legislator and self-detached 'working class fighter' from利益ed - a small town in the US Canada border with a population of just 237 - is pinned to be named Maine's Democratic nominee for the former state's state's settlement.
His nomination at a convention today will go a tumultuous vote and a half works for the Democratic Party in the state, where this manthypoplet systemman Graham Platten can forced to abandon his new Senate bid in the last five thousand-month deligation.
But Jackson's nomination will also be the starting gun on a solid dusk after by the Democratic to defeat longtime Republican Senator Susan Collins, a well-buried incumbent with a record of winning tough men by appealing to independent race.
The party's leaders are Maine - a relatively poor state that has moved towards the Democratic to recent years but continued to have Republican nominee - an award win if they are to take back control of the Senate from Donald Trump and the Republican.
"Tennessee says in Maine have been hungry for this popular, shake-things-up, go after the establishment type of candidate," said Mark Benson, chair of the political science department at the University of Maine. "Is that going to be enough to be the full man in November?"
Polly suggest a new age 43 University of New Hampshire survey out this month showed Jackson leading Collins by three points in a hypothetical match up. The results mirrored a New York Times-Bioca University poll last month that gave Plataner a new John lead over Collins between 6-10 expected.
But the latter poll ruined alarm bells among Democrats, showing Collins had more than a 20-point advantage among voters without a university degree, a crucial rating that that Democratic have struggled to win over in the Trump era.
A longtime supporter of Vermont Senator Bernie Sanders, Jackson, 18, has pitched himself as a bona fide champion
Graham Platten, left, and Troy Jackson during campaign tour in May. Plataner was forced to pull out of the Senate race after sexual assault allegations
SUSANNA PHILLIPS
of the working class. His campaign calls T-shirts with stigma including "labour of life in England and 'but not for funds', a sentence to Jackson's long-standing support for labour unions."
He got his start in politics in 1998 when he was backside along the US Canada border, protesting against corporate lumberance hiring Canadian workers.
"Never does not give working people anything out of the goodness of in heart. Sometimes you have to make the people in charge so uncomfortable that they don't know you are here," Jackson told a rally on Sunday, as it became clear that he had racket up enough support to be Plataner's replacement.
Marcia Mares, chair of the Democratic Party in Hancock County, said Jackson was the candidate "most closely aligned" with Plataner's progressive agenda, such as both due for bill, during billionaires and abolishing US immigration and customs for the moment.
But Myers noted Jackson had a "very different" style to Plataner, a charismatic
speaker who had held more than 60 times built in the state by the time he was a former state. His campaign was not held a public event since Sunday.
"Jackson will not have the personal baggage that Plataner had," said Charles Cook, a non-partisan political analyst who now lives in Maine. "But, at the same time, he does not have a tenth of the candidate' additional ballroom had."
Jackson supporters are quick to point out that the former state legislator has a record of winning on a progressive to a traditionally conservative result part of the state. While Trump has never won Maine statewide, Jackson hails from Arundel County, a place that voted overwhelmingly for the president in 2006, 2010 and 2018.
Republican critics argue Jackson's position is to have the outside the mainstream to appeal to young women. "The Democrat Party has been taken over by socialists, and they have lost their identity," said Valerie Mares, chair of the Hancock County Republicans.
Some Democrats in Maine say they
Jackson will not have the personal baggage Plataner had. But, at the same time, he does not have a tenth of the candidate abilities'
fuel based by the Plataner saga and need to be carried out that Jackson - who earlier in his career supported her more conservative social policies, including a nationwide ban on abortions, wider gay across and a ban on some new marriage - about two from 1999.
"There is a bridge to be back, and I think Graham Plataner was creating that bridge," said one Democratic voter. Troy Jackson, 10 minister age for was against gay marriage and pro-life for Christ's man.
Collins also argues a considerable fundraising advantage. The 75-year-old - who is seeking a sixth on-race term in the Senate - had roughly 50 times cash on hand at the end of June, according to the latest campaigning house filling with the Federal Election Commission.
The 1998-2000s on 18 total campaign by Jackson for governor of Maine raised just over 80mm and racket with roughly $10,000 on hand, though Jackson now says he has raised an additional 8mm on the hand that he is near the.
The Plataner campaign had roughly $1,000 on cash on hand at the end of June according to the latest filing, and its remains unclear whether any of that will be launched not to Jackson's effort.
Collins supporters point out that worldwide vote will be 20% more on 10 per 10th years ago, she won no election by more than eight points even as her Democratic challenge compared her by more than seven on several months.
Her allies never think of a vote that her bipartisan credentials and long record of advertising in the world and that her to win once again in November.
Bob Tyres, a longtime friend of Collins who ran her first US Senate campaign in 1996, said most Maine voters were not ideological - many voters were not forced the winner for her independent streak, including a long record of distancing herself from Trump.
Collins has said she did not vote for the president in 2014 and wrote to the name of former South Carolina governor Nikki Mistry on her ballot instead.
"There is a much greater degree of practical criticism and people who make their political decisions based on how someone has been performing over a long period of time," said Tyres.
Benson, the University of Maine president, agreed to the state secretary in this race by November 6, saying to be with voters in this center," he said. "It is hard to see a progressive, for left public a campaign alongside."
Additional reporting by Jim Huggins
Contracts & Tenders
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25 June/24 Jan 2006
TV Weekend
5
FT BIG READ. CRIME
the drug is more available now than in its 1980s heyday as street prices tumble and purity improves, while the continent's law enforcement agents struggle to keep up with ever more sophisticated traffickers.
By Jude Webber and Laura Dubois
On a rural base on Hauben-Des Island, south east of Cork, officers stationed inside a scene filled some keep watch over a vast stretch of the Atlantic Ocean that has become a front line in Europe's war against drugs.
"It's sterile to the haystack stuff," says the commander directing Ireland's story first operations, who aids not to be turned. Part of his job is to put anomalies in satellite and other imagery that may indicate small hours increasingly used by drug traffickers.
But even if he sees something worrying, the story can only display "three maximums, and usually two" so that the night reveals at a time, he says, due to miscarriages, squats and spills, the rise over of the ship are until he the rough Atlantic waters. "We're policing a million-square kilometers," he adds. "To be anywhere comfortable, I need at least 12 months."
In this battle for the seas, drug traffickers are often coming out on top – making Europe, in the words of the UN, the new "primary destination" for cocaine.
The drug, once the preserve of rich European mortgages, has gone mainstream, with street prices falling by an average of 10 per cent between 2004 and 2005 while the products sold became 4x per cent purer, according to the EU's drugs agency.
In authorities have stopped up interceptions at major ports, traffickers have kept ahead through sophisticated drug-offs at sea, enabled by encrypted communications, powerful speedbouts, unmanned submersibles and GPS spoofing, which involves vessels taking that location.
"You always have to stop up-to-date, because there's always a new modus operandi," says Jürgen Elmer, acting chief of Europe, the EU's law enforcement agency. He warns of a "waterbed effect" – when authorities come down need to see area it can put push problems somewhere else.
The scale of the problem is vast. Cocaine production in Latin America has quadrupled in the past decade, with criminal networks in Colombia, Peru and Bolivia exploiting global trade sources to shift vast quantities of the drug. Cocaine is also increasingly shipped from Brazil into Europe via east Africa.
The UN warns that supply could soon exceed demand, increasing traffic have incentives to dump over more product secretarages abroad.
"We're not in a position to stop those flows," says Mark Melfett, former chief of staff of Ireland's Defence Forces, adding that European law enforcement agents should require "real time information of what's happening on the recent surface, ranked and in the aerial space above."
The result is that more cocaine is available in Europe today than in the 1980s – often seen as the day's heyday – according to the UN. Last year alone, its mistake in city wastewater rose by more than a fifth, according to the EU's drugs agency.
In 2003, the agency estimated the European market was worth €1,4 this Michael Thaffleau, a former head of the Maritime Analysis and Operations Centre-Ascortex, a police and military patrol agency made up of nine European countries, believes its value is down to €10m today.
Lower prices and Dvichrome dealing on popular war patrol messaging apps have made cocaine more attainable. The idea that the typical user is someone looking to add a thrill to their night
Europe's losing cocaine battle
A Belgian customs officer searches for drugs at the port of Dodecage. Traffickers are said to be avoiding big parts in favour of drugs, containers in the Atlantic that later open on a timer, allowing drugs to thaw to the surface for collection by smaller, faster vessels
Cocaine has become cheaper and purer across Europe, with several markets seeing a fall in retail prices of more than a quarter
Retail cocaine (2004 = 100)
Source: Eulalia Kramper Drug Report 2004; 100,000 in the drug and 2005
out is "not really true any more", says Julien Garvany, head of the UN drug agency's office in Brussels. "It really has penetrated all our groups and all layers of society."
The drug is increasingly taken by teenagers, January says, "obviously their brain is not developed yet. In this it how you create a strong path towards addiction."
European authorities have stopped up their fight by investing in port security and closer judicial co-operation. But drug gangs remain one step ahead.
The triathlete operations officer reckons law collectors claim "shares 10 per cent" of the cocaine shipped to Europe. Despite his stretched resources, he must also keep tabs on increasing visits by Russian any ships and member maritime threats during several EU summits Ireland's hosting this year.
When it comes to drugs "you can only say you're winning if you're completely cutting off the supply", the officer says. European stories and law enforcement share information but "are they getting to left" is it killing the problem on land? Let's be truthful, it's not."
Speaking cocaine now, charcoal
Cocaine smuggling to Europe began in earnest in the 1960s when Colombian cars brought to diversify from a saturated US market. At first, traffickers need deaths and motorists. But from the 1990s ranging volumes led them to use containers transporting goods such as fruit so well as ever more innovative methods, including dispatching "nervousdreams" direct to Europe.
Smuggler took cocaine powder with other materials such as food, plastics, textiles, cardboard and even cowbikes
to disguise it for transport before extracting it in clandestine chemical jobs later on. The technique involves chemically altering the drug and spraying it on its charcoal.
Over the past decade European countries have made seizures of suggesting unwanted cocaine, particularly telling ports such as Rotterdam in the Netherlands and Antwerp in Belgium, where a record 110 tonnes was seized in 2005.
But in the past three years there has been a "tremendous drop", according to Kristian Vankeweeren, Belgium's head of customs. Belgian authorities seized 2.4 tonnes in October in the first six months of this year in Antwerp, a 60 per cent fall from the same period increased – and a further decline from the end of 2008 to 2009.
Many are the bill as an indicator that improved security is deterring drug dealers from channeling their products through big parts. Belgium has worked closely with terminal operators and invested in equipments, such as needless owners, meaning they can now 5 only 10% of per cent of containers through high risk immediately upon arrival, compared with past 5 per cent in 2005.
"Definitely those has been change, in the sense [that] there are not that many huge and massive cocaine shipments anymore," says Robert Fay, head of the drug industry, one of Europe.
But, as security at the big ports is imposed up, criminal groups are turning to GPS and satellite-enabled deliveries in the middle of the Atlantic as an alternative. These at sea drop-offs can easily change basics or large merchant "market management, paying significant cargo unloading to smaller "daughter ships". Alternatively, vessels such as
speedbouts and semi-submersibles controlled by criminals and only carrying drugs meet for cargo swaps at sea. Traffickers also sink containers that later open on a timer, allowing the drugs to thaw to the surface for collection.
The sheer size of the Atlantic provides drug gangs with a major advantage. Europe's top says one area where criminal networks conduct drop-offs is around the Azores and Canary Islands, making Portugal and Spain key entry points. "It's quite a big piece of the Atlantic," he says, "by you really need to know what to do."
In part of the continent European
"They're adapting, they're using different ways of communication and it's always one step in front of us"
effect, Ireland, with its maximum of three ships, is indeed with gambling a piece of the Atlantic that is more than 10 times its landmass. "If you do not have a physical presence delivering maritime enforcement, you're just left the doors with signs," says one former Irish senior commander who asked not to be wanted.
The country is also feeling the effect of the narcotics onslaught back at home. Cocaine has become Ireland's biggest problem drug, with the number of people receiving treatment for use rising by 250 per cent since 2007.
The cocaine surge has come just as the resources deployed by Ireland have shrunk. "Back in 2008, before this man-
sive increase of drugs happened on the streets of Ireland, the levy had nine operational ships," says the former commander, last then things, "hit the rock."
Between 2005 and 2022, both crew numbers dwindled due to recruitment and retention problems, meaning patrols were sporty and ships barely operational, the former commander says. "And the foreigners [for cocaine in Ireland] opened ... Ireland became a soft track."
Even when law enforcement knows where the trafficking is happening and can dispatch a ship and crew, the criminal-ship got away. Speedbouts carrying cocaine can be difficult to track and there can be open on a car he had.
The maritime narcotics center seized a record 91 tonnes. But was from "gobalt" crafts and small vessels last year. But that was only the tip of the iceberg: it estimates 700 tonnes escaped, a rise of more than 40 per cent since 2004.
Law enforcement agencies' efforts to interrupt the criminal's communications have also enjoyed some success.
In 2021, Europe and other European police agencies cracked a key app used by traffickers called Sky EU's, yielding a resource level of every good messages that led to hundreds of arrests and is still being used in investigations today.
Decoding the app helped law enforcement identify high-ranking traffickers. But for years, authorities across Europe struggled to get to them. Some members of a "super Curial" that was believed, at its peak, to have supplied a third of Europe's cocaine, lived openly in Dubai and other friendly jurisdictions, where they seemed nationalable.
Take has changed, as one of some, Dubai has extradited top houses. But Anselmo Verlinckes, Belgium's justice minister, also acknowledges a "waterbed effect" as criminals first to other jurisdictions. Joe Lefebvre, the Netherlands' most-wanted drug traffickers, who has been sentenced to shoot the South in the Netherlands and in Belgium, is hiding up in Sierra Leone.
According to Europe, criminals are now moving back to more fragmented modes of communication. "They're adapting, they're using different ways of communication and it's always one step in front of us," says Europe's Fay.
Drugs insurance
The money made through cocaine trafficking lies at the heart of Europe's problem. Laurent Laniot, an analyst at the EU drug agency, says that a few drug records that were released to Europe's "source," the profit margins explode, adding "You can multiply your investment by 1,000 per cent."
Part of the profit is made by intermediaries who organize logistics, operations, and services, Europe that control this part of the trade include Brazil's largest cartel, the Primeira Comanda da Capital, the Russian giants the Hindus and also to the Information cards, and one time before the group.
Cocaine now warns that the more than a quarter of drug-related deaths in Europe. While most people take the drug at clubs, have or at home, 9 per cent of more – and 4 per cent of crack cocaine users – report having failed at work, according to 2004 survey by the EU drug agency.
"The missing element in the anti-drug efforts of the European Union is really running demand," says Treasury of the EU drug office, citing stigma around treating addiction as one of the factors. "If you only look at supply it's called a war on drugs, and you know what happens nothing gets solved."
Obituary
Son of a miner
who became
the saviour of
Newcastle Utd
Kevin Keegan
England Northside
1/01/2006
Kevin Keegan
England Northside
1/01/2006
1/01/2006
1/01/2006
1/01/2006
1/01/2006
Kevin Keegan had a neat phony to sum up his toe to stardom. "I was the manager who made it to Crufts," he wrote in his autobiography.
But Keegan, who has died aged 75, was much more: one of football's most beloved figures, celebrated for his notorious passion and electric style of play. As a manager, his swashbuckling approach helped make English football a global phenomenon. "King Kerr" also more agonisingly close to winning the Premier League with Newcastle United.
"Kevin's impact", Newcastle said this work, would live on in "the presentation of supporters around the world who left in love with footballist team of land."
Joseph Kevin Keegan was born just outside Dvecance in 1951. His father Joe had moved from Newcastle to work in a coal mine. It was there he met Kevin's mother Doris, a factory worker.
Keegan didn't move into a home with electricity until he turned 10, but had already started kicking a ball aged six. His father insisted he stick with school, not wanting his son to be a miner. April 13, Keegan started as a cos boy in a local boundary. But despite being told he was too small, at the weekend he played football. He was spotted and
signed for fourth division to authorize United in 1968, taking summer jobs to supplement his wages. At a biocenter fairground he met Jean; the pair later married and had two daughters.
Keegan's par soon rose. In 1971 he signed with Bill Hauley's Liverpool at £50 a week. He scored 22 minutes into his debut and formed a partnership with John Pashack as prolific it was said to be a telepathic bond. In Keegan's second season, Liverpool won the English league and Utd Cup, and the 54 Cup the year after. He ended his debut for England in 1972 and went on to captain the team, although they failed to reach the 1994 and 1998 World Cup.
But Keegan was a household name. He became the face of first afterthood and in 1973 released a song, "It Ain't Easy". Liverpool won the league and the Ueb Cup again, before losing crowned European champions for the first time in 1977 to his final Liverpool game.
Insulcering to Hamburg, he sweated his trademark bubble purse. They won the German league and his second single cracked Greenbys's top 20. He also won the hidden 1976 two years running. He later described himself as the "most ordinary player to have
won it twice" and said heart graft, not to be a student, explained his success.
After three years in Germany, he rejected moves to some of Europe's top clubs and went instead to local champions and then Newcastle, opening a £60m two-flighted, Keegan's career again that would take the club, then in English football's second tier, to the top division. He scored 49 goals in 81 appearances and became a last biocenter before retiring aged 55. To bid him farewell, Newcastle's team is friendly against Liverpool. The game ended 2-1, with Keegan departing the pitch to a helicopter. Fans before wept, among them a 15-year-old ball boy called Alan Shearer.
"Special 8" would never go into management, yet almost eight years later returned to Newcastle, who were scrupulously in the bottom half of the second division. He guided them to the Premier League. Fans delighted in his free-flowing style of football and addressed his emotional provoke.
Keegan's managerial career will be remembered for the 1990/96 season. Newcastle opened up a 12-point last over Manchester United and appeared to be heading to their first Premier League title. But Alex Ferguson's United
Keegan made his England debut in 1972 and went on to captain the team
As pressure mounted, he launched a trade against Alex Ferguson on live TV: "I will love it if we beat them. Love it!"
gradually narrowed the gap. As pressure mounted, Keegan launched a trade against his rival on live TV, "You can tell him now, we're still fighting for this title," he said. "I will love it if we beat them. Love it!" Ferguson prevailed, but fans connected with Keegan's passion – he spoke like one of them.
That summer Keegan signed Shearer for a world record for 47 £1000. The England striker went on to score more than 200 goals for his childhood club, and still holds the Premier League record: "My three. My manager. My friend," Shearer said after his death.
Keegan quit Newcastle a few months later. He managed Fulham, Inc as he led state with England contact with companies in Northern Ireland. He was a first to Chester City for almost four years, taking the team back to the Premier League in 2002. A comprehensive final 10 games back at Newcastle concluded with a public club with the club's then-sweet, called Lyons Mike Ashley.
Keegan complained that manager would rather "sufficient the life" out of football to win. That was never his way. "History will remember so kindly," he said of his Newcastle side. "We brought the crowd to be lost," Jack Noble
10
FT Weekend
25 June/26 June 2006
The FT View
FINANCIAL TIMES
'Without force and without favour'
In praise of the free flow of human ingenuity
Apple is suing OpenAI but Silicon Valley is founded on the exchange of ideas
The American founding father Benjamin Franklin Kennedy declared that "as we enjoy great advantages from the inventories of others, we should be glad of an Opportunity to serve ethically our invention of ours, and this we should be freely and generously". In that spirit, he declined to patent his own inventions from 1964 and to the lightning rod.
Some 200 years after the US Declaration of Independence, Silicon Valley should give thanks. Instead, its biggest companies regularly find themselves largely courtroom scenes over the high & industrial secrets and the poaching of false these stories.
The latest high-profile case pits iPhone ported the incumbent Apple against ChatGPT developer OpenAI, which has ambitions to become a hard-
wavy goal, after its 2022 acquisition of design made in, co-founded by former Apple design deal Jane Jive.
Apple's former claims its rival has used former and current Apple engineers to start hardware designs as part of a "co-ordinated process of innovation". (I've to not mentioned by name in the text.) "OpenAI's nascent hardware base now [is]" refers to its core by its illegal reliance on misrepresented trade secrets," the unit adopts.
Apple has also sent letters to some 40 former staff working at OpenAI, offering them to preserve documents and meet Apple lawyers, holding Apple, not OpenAI, have commented on the letter campaign, though the USA has said to ask aware of any evidence that Apple's complaint has meted."
Apple's unit comes at a tricky time for OpenAI. The company and its chief executive that Altman are on the back line about strategy, often and safety of the fall's research and development. The lab's admission this week that an AI
agent escaped from a foreign environment and backed into a start-up adds to the pressure.
But the litigation also comes as Apple itself is under assault in one of the next sector's most costly wars for talent yet, with engineers switching orders across.
Free movement of skilled people is to the Valley's benefit. California has long recognized that it aids the cross-pollination of ideas. It made non-competit classes unenforceable in 1972, anticipating by more than 150 years recent OECD research that shows the widening use of such provisions is associated with a decline in productivity.
A few words to be drawn, however, between the healthy spread of world, five thoughts and outright itself. In 2020, Anthony Levanowski, co-founder of Google's self-driving car project, was sentenced to 10 months in prison for reading trade secrets and allegedly suing them to help build a rival programme at GKN. He was published by President Donald Trump in 2015.
A few needs to be drawn between the healthy spread of innovative Google and outright tech
Companies cannot prevent stuff from switching to a rival just because they might remember some confidential information. Last month, a California judge rated that New South's oil had failed to prove that OpenAI had induced a former US employee to misappropriate its trade secrets.
Litigants should act proportionately, Apple's lawsuit is carefully focused on the claim specific in employees kept working in the cross-dimensional secret files, and continued to gain access to its systems after quitting. But its effort to convince dozens of co-authors now at OpenAI is so operator, though not unusual in such units, tools have vended.
The claims are for higher than in free-lidest cases. The company has been pouring billions into research and going public at trillion-dollar valuations. That compelters should fight to protect their intellectual, material and human assets is understandable. But if in the process they stille the free flow of human ingenuity, everyone will emerge worse off.
Opinion Society
India's Cockroach' Gen Z has had enough
Kunal Purohit
Far on a decade now, India's Prime Minister Narendra Modi has provoked the world's largest democracy, with a formula sustained religious mobilization combined with the promise of economic progress and aside the day and days. In 12 years, it mostly worked like magic.
Now, India's 1960s, the world's largest at more than 370mm - is putting it to the test. For five days this week, tens of thousands of young Indians have hit the streets across the country, mounting the biggest challenge Modi has faced in his postwarth.
The movement began earlier this year after authorities discovered that a medical college admission exam in May had been compromised by leaks. More than 2100 students were asked to retake it, after having spent years.
Over four of every five people unemployed in the country are under 30 years of age
and, in many cases, considerable sums of money preparing for the test. At least 12 took their own lives. A police probe into the leak found that insiders with leaks to the exam process were responsible.
Insiders demanded that Education Minister Dharmendra Pradhan resign from his post after a stream that was repeated exam leaks across the country. Change was further fuelled by the Chief Justice of India's description of the country's unemployed youth as "cockroaches" (something he later claimed only applies to those who did degree).
Millions took to social media and the Cockroach Jaina Party (CJP) was subsequently founded by Abhijrat Diphe. It was given a name that punches Modi's ruling Bharatiya Jaina Party (MP) and now has over 250m follows, two in Instagram, for exceeding the MP 9.4mm.
In today's India, the idea of political accountability has largely vanished from public imagination. Modi has continuously scoffed or demands to seek his party men and ministers to counter the circumstances. While older Indians have come to see this as normal, many love foes, facing significant and growing challenges of their own, haven't got the means.
India's youth are in a bad place. Over
four of every five people unemployed in the country are under 30 years of age. Worryingly, policeman among graduates is since times higher than among those who cannot read and write.
Meanwhile, real wages have remained stagnant. Government skill development initiatives aren't helping - of the future instead, only 15 per cent get jobs in the last decade. Even India's famed information technology companies are laying on beginners and framing recruitment. The sector's Big Five hired a net 27 employees to the first nine months of the 2010-20 financial year.
In a result, many young people are forced to work jobs they are grossly overqualified for. I've met engineers working on construction sites as supervisors and young students taking up data every week. Millions are now taking up poorly paid and often exploitative gig work. More than 250m Indians are now employed in the sector, a figure that is projected to almost double within the next three years alone.
The consequences of such a precarious living are hard to summarize and apply two further warrants. There are men who can't lend bodies since they don't have direct jobs. Many can't provide for their families because they can't find employment, despite their master's degrees.
For over a decade, there were the people Modi had carefully held his base around: he promised to provide 200m jobs each year, build 100 new cities, improve infrastructure, eliminate corruption and create a "successful class". But 12 years in, not enough of this, has materialised for young Indians.
It is perhaps not surprising then that Gen Z's cumulative rage has now exploded as to the streets. This is an Instagram first generation, and at a county level and income that firms with irreverence in India, students have been mocking Modi by playing his old speeches on independent. For men have recently turned violent, as police officers fire two part and mount baton charge strikes.
Despite the level of uproar, there has been a muted reaction from on high. Modi has made some concessions but has failed to get rid of Pradhan and is yet to address the preexisting situation directly.
Even if he does so, it seems unlikely that India's Gen Z will be in a mood to listen. The country's streets are still ringing with critiques. The youth's irreverence brings to light the contrast between Modi's promises and their reality. They know that - like the reaches - their conditions is impossible to speak.
The writer is author of 'It Pops The Lovers the World of Hindustan Pop Stars'
Letters
Politicians have never impressed British public
As usual, Candile Comodish ("There is a gaping hole in British politics", Opinion, June 27) makes many excellent points. But she also rules committing the breathing sin of commentators - namely, to assume that what we see today wasn't also true of yesterday.
It may well be the case that the UK is witnessing a crisis of trust in politicians. But the fact is that the Welsh laws never been particularly impressed with those they choose to represent them. It's just that, as this
Time to sing the praises of Britain's music festivals
Will Pugh's article about the five music market ("The go big or too home" economy for five music?, Opinion, July 30) painted a depressing picture of our increasingly comprehensive, stemmed and rich-free culture.
He explained the twelfth people to attend only auditam shows and listen to music via streaming, while showing small live sounds and pop festivals. Mean from 370 UK festivals this year, equivalent since 2013, he says:
Pugh overstates in writing that "compared with festivals (weather, unknown acts, outdoor facilities), and there are a sadly fun" just two UK auditions. He has been a well known, retractable rock, and only the Welsh one provides total cover. If on the Westfely pitch for a concert or to close periphery seats, prepare for crisis. And seeing "unknown acts" is precisely part of festivals' appeal. The new audit, illuminated Cockroach, is half festival and the small Warwick Festival in Suffolk, for women, have showcased for me unexpectedly excellent artists than on streaming algorithm would have flagged.
Both festivals also, like music, offer beautiful radio surroundings within a audition course hotel.
The argument that this travel away from festivals and small women risks diminishing returns for the music industry, because we see well have nowhere to develop, it will otherwise. Yet society also loses in it because another trivial isolated, some old-obsessed youngsters avoiding "coupling". Music venues provide special, exciting ideas, and literature festivals, which are additionally given youngsters a first taste of communal reception and bookstore.
The组成es just different in event. Hampshire in 1996 was Britain's first popular music festival, during the blueprint for people to gather in the countryside for a weekend of fun and music. In 1963 Kerafan featured one notable "coughing" that swelled music industry coffers. And Stewart, in the unstilling spirit, had, recalled going to Woodrow as a 16-year-old and being his "not373" and "coughing" to an early woman. The first young girl, inspired his global hit song, "Maggie Day", about a teenage evening, and a older woman's dazzles. I await Woodrow's similar such contribution.
Charles Shurth
London 1999, UK
An Indian TV innovation that boosted reading skills
The Harford's column on the Indian film of a conclusion "I'm not a practice he hit again", Spectrum, July 21 describes something Indian television has been doing for nearly three decades. Some language-ambitling - captions that match the audio word for
polling industry has receivedly expanded over the years, we know for more about their attitudes, and to for more detail, than used to be the case.
As for Labour politicians, I can assure your readers, having interviewed many former MPs for a PhD on the symbols politics of the party's welfare policies from the 1980s onwards, that they were fully aware of their constituents' concerns with, neighbours they saw as "scroungers". These same MPs had no illusions either
The Cambridge Folk Festival has been talking place since 1965
word - was designed to make television accessible to the deaf and hard of hearing.
On Dearthurban, India's public breakwater, subtitled film songs delivered something the entirely effortless reading practice for weak readers, who were simply watching for entertainment, not instruction. That passive exposure - reading along with what now is watching - has been shown to impress reading skill over time, at negligible marginal cost. The practice now reaches more than 600mm in the viewers daily.
Like Harford's dropped herb and fever handle, a humor built for the few but quietly become useful to the many!
Ralph Dunn
Director of Publishing Partnerships,
Million Readers Initiative,
New Delhi, India
Snippets of history and some unusual priorities
Well done Rebecca Rose for reminding readers of the joys and frustrations of scottling, receiving and receiving a postmark (Life In 4:30, July 11). I always was charity that postcard donations and it's never difficult to unearth interesting social observations, written politely and (because you don't know) the wonder or how full content is which the card was sent I am lying snippets of both history and mystery.
A favourite I collected was sent from San Sebastian to Spain in September 1956 in a recipient in Swindon.
Withdow, it made "clear bloodsad" - derived here ok 30.30 last night. Had a good journey over. Maserem was sick. Had a four course meal 15 last night we had 3 times what to make of it or the place. Whether scorching but, he good, I am "draw on".
Note that the first thing "I have" did see the day after arriving quite late at night was used a postcard to "thawshall". Cutting the priorities right!
Tony Mills
Hahmsbury, Wiltshire, UK
about their water's opposition towards immigration.
Such attitudes and anxieties are - both culturally and psychologically - deep control. Sometimes they are merely latent, other times they are more manifest. Whether, though, they are best addressed by politicians hanging on about benefit fraud and small boats in highly affordable.
The Role
Professor of Politics, James Mary
University of London, London E1, UK
A friendship told through five decades of postcards
Rebecca Rose and her teaching "Postcards on the Edge" triggered an important life isn't memory (Life In 4:30, July 11).
I was a friend of the time that, zero, the great Scottish Canadian animators. He died in January 1987. I was helping new and his belongings and found 20 years of correspondence from a friend to Scotland - almost weekly. Many of the mission were up to each 3.1 centcent in the front and found that the bad bags all of Normand side of the correspondence. To cut a long story short, both sides could sign in the National Order of Scotland. I went to the 1st of the 1st of the correspondence flipping from one side to the other of George and lifetime conversations.
Norman would, for example, send Florence a postcard bought at an art exhibition. Florence would reply with a critique of the artworks as one might want Normand, postcard of a place she had visited and that would trigger another kind of conversation.
The conversation was always personal: and somehow the card image would be part of the message. For me, it was a deeply moving life (women and480s), to let it me visiting Normand's pre-pid in Scotland, and so starting a correspondence to the brief time she had left.
Donald the Williams
Quebec, Canada
Churchill's son-in-law saw rest, but he was given blue
Year article in the Life and Anx vaccine of the FT West is a "big about rest" and likely dropouts' home release not one other variant - blue ("Who are the choice students of the red dropouts here?", Note, July 30).
When Britain joined the European Communities in 1972, I served as principal for one secretary to one of the first two British commissioners, by Christopher Bannas. He was determined to have one of the boxes, with which he had been familiar as Women Churchill's son-in-law and when he was underdone in agriculture in the MacMillan government. His respect for one caused some working of teeth in Whitehall.
He was told that business could not have a red box because he was a lawyer. British students, but he could have a blue one (roughly the colour of the European flag), he we received a note of blue boxes, identical in every other way to the red ones - and I was forced to digging them around the world on the commissioner's extensive (exotic) school all of papers they are pretty history.
David Hanney
House of Lords, London SW14, UK
Why construction alone won't solve housing crisis
As a London in the lifetime who fled in part due to the inaccessibility of living on her own or buying a property, despite working full-time, I read John Bunn Mardash to make with great interest ("How to hit the housing crisis", Big Road, July 30).
He argues that housing construction is the only real solution, yet crusaders in his last two paragraphs think it will not be enough to show "proved residents". The reality is that this demographic includes those at the start of their careers and without much savings - that is to say, younger adults financially unable to move out of the family home. This brings in full circle to the original issue stated and is highly consequential to another phenomenon this postcard has received in the past few months falling birth rates.
Consider this. Official figures show that about 2,000 homes in London have been underpinned at home in 1992. According to a report published by London City Hall this June, in 2003 more than a hundred thousand residential properties in London were unoccupied at any one place, with just 1/2 per cent of these residents in the United States (figure from 2014).
Despite the reason "One cause of homes becoming empty is when new build properties are purchased at development and will empty home as 'buy to have'. The new letting rates of student accommodation and build to build properties are also leading to nearly built homes, remaining empty."
Unfortunately, it does not appear to be a problem in properties would address this problem.
Katie Thomas's Hughes
Brussels, Belgium
Immigration does not resemble a zero-sum game
Mass migration is not the drive bullet economist Hinds it is, according to Orvis Cass (Opinion, July 11). Probably not, but does the proof of his scepticism in the fact that left-of-centre political parties on both sides of the Atlantic are discovering that unchecked immigration poses an existential threat to their electoral prospects?
How mass immigration will influence the economics of the US and the well-developed European welfare societies in the future will probably depend on how effectively what Cass calls "undified workers" are embraced and integrated into our labour markets.
A 2010-2011 Hedge paper from the OBT shows that down to one thirds (12 hours of the EU jobs created between 2019 and 2022) now filled by men EU citizens - the highest share in recent EU history - while the unemployment rate of EU citizens remained at almost 1.5%.
This does not look like a zero-sum game. Whether good or bad, it seems to create a new division of labour where native-born employees advance into higher-afflict positions in the town such as education, healthcare, ICT and public administration, while
immigrants find jobs in sectors such as construction, food services and transport. Many of these jobs may be difficult to replace through shifting business opportunities.
Jan Erik Grindham
Professor of Political Science,
University of South Eastern Norway, and
affiliated to the World Bank bank (Orbis,
Oslo, Norway
25 June/Sept 2010
FT Weekend
11
Opinion
The next phase of Trump's trade war
I judged by shock and awe, the trade war between America and the world is still about tariffs, with the US (a thudding he sold the week and Canada nothing from the threat of a U.S. pre-war levy. On the other hand, the US is a big deal where, as a higher struggle over globalization's infrastructure. For 18 months, America has sought to change countries more for access to the services and market flow, if a deterring an upholding those that seek alternatives. In Silicon Valley speak, it is pressing from maintaining users to locking them in. In an ironic terms, it is moving from hiking prices to knocking competition. And to mails drag, it is nothing from shake-
downs to threatening to whack those who try to quit its protection.
It is a mistake to think of the second Trump administration as a return to 1950s protectionism or Chinese-style mercantilians. Instead it is best described as a project to ensure the US cannot be coerced economically and "grip paid" for the superpower services it provides to the world. These include its financial markets and currency, its tech networks, its vast consumer market and its weapons and defence guarantees. It is a futuristic nationalism, which as knowledge that, in an age of intangible capitalism, a minority of the income and capital America generates from abroad is from goods.
The administration has sought to meet the revenue and capital that there is the superpower. It has raised tariffs and demanded countries sign up to investment quotas, purchase agreements, arms deals and more volumes of US such as intellectual property, sometimes at higher prices. This week America breached selling nuclear technology
to Saudi Arabia, simultaneously it has cut costs by forcing allies to spend on defence, and qualifying US commitments – including to Ukraine, Nato and Taiwan. It countries refuse these new terms, they may be denied services. Countries freebading on defence spending for US military guarantees. Governments that refuse to invest in America may forfeit lower tariff entry to its market. Access to new technology is no longer guaranteed. In June, foreigners were temporarily barred from Anthropos 3.4 models.
Parts of this strategy have worked. Last year foreign capital inflows to America were the highest on record, while the income generated abroad from its financial, soils, intellectual property and defence industries rose to 7 per cent of GDP. But an inevitable side effect of operating customers is that they are outraged and cost no other options. The White House understands this, which explains its obsession with US "supremacy" in techs if the products are superior, it assesses, foreigners will
nuck it up. The Genius Act, creating a legal framework for some crypto assets, was motivated by crosstraw, but also a desire to bring offshore digital finance under US control.
Other countries have reacted more angrily than anticipated. Many are pursuing a policy of keeping access to US services while investing in alternatives.
In mails slang, it is shifting from shakedowns to threats to whack those who try to quit its protection
from payments to act defence. The same sense US firms will lose market share. Falcons, the defence tech process, has lost net inclusions in Europe. Jacob Hefferg, the senior secretary of state for economic affairs, said it would be "backward and counterproductive" for countries to develop independent digital capabilities. Marco Rubio, the
secretary of state, has just instructed US firms to refute the fear of "left role for" in US tools. But, as well as such discussions, there is coercion, with attacks on the challenge.
This is hardly unbiased of. In the 1960s, Britain tried to forestall Germany's rival wireless service. In the 2010s, America pushed off to which Huawei, a Chinese telecom firm. In 2013, Trump threatened to tariff countries exploring alternative to the dollar. Most of the recipes at trade deals signed by the administration lines clauses designed to set up part of the position of US networks and give America a better tax countries signing tech deals with China.
The attempt to foreclose competition will go further than this. Exhibit A in the attack on Brazil's huge digital finance platforms, where it was developed longer a 25 per cent tariff than month. The grid appears even to exhibit a row in US payment systems. There are more than 80 similar platforms worldwide, including India's giant 10% of foreign network of financial networks. Exhibit B in AI,
where China's Moonshot is approaching parity with China's US, and the US is now growing country fears and complaints of action. If, local economist, the Treasury secretary, says America could sanction Chinese AI firms. Exhibit C in the Pentagon, which has just stated it welcomes allies' investment in artificial technology. In the absence of a collaborative with America's safety than trying to train to replicate or expelled it".
These are all warning shots. Europe can be on topous, digital money and air-defence projects, all of which are due to some on stream to the next five years. These are similar effects under way in Asia. If they are successful, will America seek to prevent their war? That will be a step for more consequential than tariffs. It is one thing to ask your friends to pay for. It is quite another to try to prohibit them from seeking alternatives.
The writer is an FT contributing editor, a visiting scholar at the Hamer Institution and author of a forthcoming book on globalization
The new K5 model from China's 'Yang the genius' has closed the gap with US rivals, write Eleanor Okott and Zijing Wu
Following the breakout global success of Chinese AI lab DeepSeek's K5 model early last year, Yang Zhilin faced what many believed would be an existential test for his start-up Moonshot. In The Suspectsall24 year-old chuckin had failed to capitalize on the early popularity of Epub, his company's chattest, which was plagued by changes and rapidly overdues by larger rivals. At the same time, he was contending with a launch from an investor in a previous venture and reports that he and a co-founder said shares in Moonshot during an early fundraising round. The company denied the reports, which brought individuals to the end of the world.
Many in China's AI industry questioned whether Moonshot could survive the brutal and expensive race to build frontier large language models. In 2010, the start-up had made just $2.4mn in revenue, while its costs from model training and hiring researchers were exploding, according to one investor briefed on the numbers. Rivals including Baichuan and if a lot had already abandoned the content in his own applications, and some wondered whether Yang would follow suit.
But after DeepSeek's K5 release, Yang concluded that Moonshot had moved into commercialisation too early and decided to focus purely on model training, ditching efforts to market the Kimi channel. In another pivotal decision, he committed to open-sourcing Moonshot's leading AI models, allowing users to download the systems and run them on their own hardware.
"If the top leader can't make distance calls, that won't work," Yang said in a 2010 interview with the Chinese press. It was the start of a journey that culminated last week in the release of the company's K5 model. The new arrival closes the gap with leading US models and has prompted pauls about the rising capabilities of China's AI, in an elite of last year's "DeepSeek moment".
Investors are now clamouring to get access to Moonshot. The company, which is growing up for an initial public offering, is currently doing two rounds of consecutive fundraising, the second of which would value it at around $100m, according to investors with knowledge of the matter.
A lesson in AI calling assistants and autonomous agencies has created surging demand from developers, leading Moonshot into one of China's fastest growing model providers. America to carry revenue reached about $700mn in June, they added. Wang Taichen, an independent consultant and engineer, said "You're better as a 'Yang the genius'" has reached time to "build a suite of talented engineers all working towards the same part". Before founding Moonshot, he was known for research extending models' content windows, allowing students to retain more information on the AI and its applications.
China's AI year has been a battle for talent, with deep preferred tech groups aggressively preaching from smaller start-ups. Throughout this, Yang has kept one of China's strongest research
Person in the News | Yang Zhilin
Rock star founder behind Moonshot AI
teams together. Many of Moonshot's founding researchers studied alongside him either at Ysinghua University, where he graduated top of his computer science class, or at Carnegie Mellon University, where he completed his PhD. During his CMC years, Yang had stints through Brain and Meta.
From Johnson, has distinguished Moonshot from Chinese AI groups including Alibaba and Baidu, which have seen prominent researchers depart amid disagreements over but seeing frontier research with commercial demands.
Moonshot's decision to pivot to open source reinforced that advantage. Researchers are attracted by the opportunity to publish papers and receive individual recognition. "Researchers want to be remembered for breakthrough," Wang said. "Open source gives them that."
Employers describe an intense culture of long hours in Moonshot's utilitarian headquarters in Beijing's Haidian
district. But Yang has also defaced the company with his own particular obsession with web music.
The company's name comes from Pink Floyd, while meeting rooms are named after rock bands. A white piano stands prominently in the office.
Former classmates recall Yang, here:
'Culture that embraces not only hardcore technology but also music, art and the humanities gives it an edge'
In the southern province of Guangdong, as unusually gifted, the began coding to high school and won first prize in the National Olympiad in information – an achievement that earned him direct admission to university. He also balanced elite academic performance with music. A drummer in a campus band called Spicy, he organised university
music competitions alongside future Moonshot co-founder Zhou Xinyu.
"The fact that Yang could get top leaders while doing all that made him famous at Ysinghua," one former cinematic said. "People called him Yang Shen" – which translates to "Yang the genius." Friends would also cite these students and students," they added.
That mythology has helped disintegrate Moonshot from China's otherwise austere AI industry. But Kevin Xu, an investor and China AI specialist, argues that the most to name and the humanities is more than friendship.
"Culture that embraces not only hardcore technology but also music, art and the humanities gives Moonshot an edge," he said. "In much of frontier AI development has to do with research costs and combining the humanities with technology in a way that we have not seen before."
ekonro.okott@ft.com, zijingwu@ft.com
Welcome to the 9th of financial candyfloss
In his month, politicians in Washington are worrying – yet again – about global imbalance. No models out only there the US used foreign investors to buy an ever-zeeding pile of Treasuries, but China's experts keep surging, fuelling workers deficits. However, there is a second aspect to today's imbalance that is rarely discussed: the use of global finance relative to the "old" to better.
This has fascinated me since I interviewed an Islamic finance scholar in 2007 who filtered tobacco markets to a candyfoss machine. The reason? Real assets – like houses – were being used to access deficit that was then the polled-fed school, and the most effective, just an sugar is upon and reopen their candyfoss.
That financial fraud looked impressive. But the candyfoss, the value of its "old" assets is so low, so we discovered when finance exploded.
The first year changed? You might think so, given that the 2008 crisis showed the perils of excess financialisation. But nothing could be further from the truth. In McKinsey Global Institute but got the effects of increasing finance about estimate of the world's assets, liabilities and wealth. This series, which started in 2010, is released in measuring both public and private assets.
In 2013 this balance sheet was apparently hit a quadrillion, a record $100m higher than in 2014 (global GDP was $117m). This included $630m of "real" assets (real estate, infrastructure, machinery and equipment and intellectual property), $350m of financial assets (equity, loans, bonds and currency), balanced by $600m at global wealth, mostly owned by households.
This is startling, but the details are even more on global household wealth has more money than foothold since 2008. Dramatically faster than the "real" revenues, amid asset-price inflation, America accounts for $175m of this China $75m. And while it was rising real estate prices that drove this two decades ago, last year it was surging equity prices, particularly in the US, that accounted for 37 per cent of the wealth business "that" assets were currently 20 per cent, far lower than before. Meanwhile, US asset prices are now 3.7 times GDP – double the 6.6mm average.
"Global wealth growth was driven to a greater extent by paper wealth, or material asset to less decoupled from the real economy," McKinsey wrote. "The English-rich consumers have a candyfoss economy."
Other details on a face outable. Household debt, relative to GDP, has dwindled since 2008, particularly in America. That's a good thing. But government
debt has surged in the US, Japan and Europe. Chinese corporate debt has exploded too. Meanwhile "productive assets", relative to GDP, have doubled in China since 2008, even as that ratio has flathead in America – where it is now better the early 1980s level of stock.
Many Americans might design a note that some of China's "productive assets" might not be so productive due to over-investment, while some US assets might be undercounted since it is so hard to measure digital investment. Figures such as Kevin Wands, Federal Reserve chair, think (or hope) that it will imbuate a productivity miracle. This could enable the US to grow out of its over-rising sovereign debt and justify its equity valuations.
Moreover, many economists consider more financialisation to be good. The 1989, for example, has long urged poor countries to embrace financial deepening to boost their growth. Under that logic, the swelling rise of US capital markets might be seen as evidence of economic exploits status and strength.
However, you can want to know how much of a good thing," as Ian Mirallah of McKinsey tells me, noting that the current pattern "a pretty extreme" indeed. And all these risks now showed.
One must, the band for international Settlements said recently, in that wealth is now so dependent on US stock markets – and US forsubstance – that "a major equity market correction could have larger macroeconomic consequences today than in the past". A job
Surging equity prices account for far more of the wealth increases than 'real' assets
might yet occur as a result of competition from Chinese super source. At moderate levels of the monthly Kimi $1.5bn each. Another danger, such the IMF, in that rising long-term interest rates could spark a sovereign debt crunch of prompt governments either to inflate their way out of the debt or to restructure it against that. At absolute accurs!
Then there is a more stable philosophical issue: in my colleague Kana Faroukhar has noted, financialisation turns humans from "makers" of real products into "takers" (of financial value). Many religious dislike this, however the Islamic scholar's quip to me in 2007. But I suspect many voters do too, given that popular workers culture prefers to protect finance as a means to spark growth, not an end in life.
Still, such updates are unlikely to deter investors from publishing up US equities, or Chinese banks extending corporate loans. Or, better or worse, our 250-country banks will have to finance the financial candyfoss, not have because it makes the rich feel ever riches. Of President Donald Trump had better pray this theory back in a sticky mess.
gillian.istt@ft.com
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FT Weekend
25 June/26 June 2010
Opinion
The Victorians have some lessons for Burnham on radical devolution
Britain needs the social and economic glue of local power
The Times
Philip Stephens
Philip Stephens, the champion of this century municipal government Joseph Chamberlain, who was a kind of woman in the past revolutionist, coming as may be proud to advocate. Activist, elected councils, as the Liberal mayor of Birmingham played in the 1870s, were a behaviour for drunken economically thriving communities. Libraries were part of the social and economic glue.
A century and a half after Chamberlain and his fellow municipal pioneers in places such as Edinburgh, Manchester and Liverpool transformed the fortunes of the national great cities, the civil gospel centres an important message for Britain's regovernment. Decentralizing power should start at the bottom with the renewal of local authorities.
Newly installed in Downing Street, Andy Burnham, until June the mayor of Greater Manchester, is correct to say regional and local enterprise has been suffocated by Whitehall centralism. He wants, he says, to disperse power to "every particular in the land".
An offshoot of the prime minister's Downing Street office has been opened in Manchester – No 10 North – to shift decision-making from civil servants in London. The parents and resources are
Since the 1980s, France has handed the UK the dubious accolade of Europe's most centralised state
governed to allow metro mayors to pursue economic and social regeneration in big city regions beyond the capital.
The case for radicalism is indisputable. A Yugoslavia heritage long marked out France at Europe's most centralised state. In the past few decades that dubious accolade has been handed to Britain. While then president François Mignérand began in the 1980s to dismantle big state direction of France's regional and local affairs, Margaret Thatcher took Britain in the opposite direction.
When the France's network offers its 1970s many responsibilities now held by Whitehall belonged to town halls. Alongside more authority on planning, public health and waste collection, they built round housing for workers, external control units and councils and responsibility for roads and transport. And, yes, they operated libraries and maintained playing fields and swimming pools. On the other side of the balance sheet, they set the levels of taxation raised locally from residents and businesses to establish a strong system.
The resuscitation came in two parts. It began with Thatcher's ill-fated attempt in 1990 to replace domestic
rains with other rain community charge, or poll tax, alongside the nationalisation of business rates and the imposition of a Treasury dividend cap on locally raised funds. The aim was to destroy the alternative centres of power established by militant leftwing councils in authorities such as Liverpool and Lambeth.
After protests, the poll tax was abandoned on favour of property-based central tax, but town halls never recovered after financial freedom. Two days before, David Coombs re-affirmed the screw by making local government a range of post financial crash authority. Funding for local authorities fell by more than 40 per cent in real terms during the decade after 2010.
Councils were reduced to the role of subcontractors. The County Councils Network estimates that some 65 per cent of local authority spending goes on centrally mandated social care. Add other statutory responsibilities such as in homelessness and the proportion of discretionary spending is under a third.
In its civil authorities, the Chartered Institute of Public Finance and Accountancy estimates that nearly 800 libraries, or a fifth of the total, closed
during Cameron's austerity decade. - Unsurprisingly in light of his experience in Manchester, Burnham's devolution has in no re-operating metro mayors and the strange authorities over which they provide to be able to reallocate policy across local authority boundaries in and around the state. There is something to be said for this approach. But it starts in the wrong place.
Chamberlain's first insight recognised civic activism as a route to higher productivity and growth as well as greater social cohesion. His second understand that power is most effectively exercised by these close, and directly accountable, to their local communities. Replacing central direction with decision-making in a handful of regional centres is to miss the lessons of the Victorian English.
Burnham should start by returning to local councils the power to raise money locally by escapping the up on increases in the council tax. If an authority wants to spruce up the high street, it should be able to raise the money to do so. Next, the government should take the valuations on which the tax is based. Property prices have risen more than fourfold since they were made in 1991. Coun-
cils should also be given back a pay in the level of local business taxes, be permitted to issue municipal bonds for new housing and be able to forge local enterprise partnerships.
The protests from the Treasury will be loud. Irresponsible councils, mandarins will warn, will impose big tax increases and then waste the additional revenue. Local as well as national politicians make mistakes, but councils will struggle to match the town of Telford, regardless of by Whitehall or a shorted 21 and infrastructure projects. And elected councillors should be an accountability to return too easily shrugged off by ministers and officials in Westminster.
Burnham would say he has much in common with Chamberlain. The mayor of Birmingham, after 18, was among the first to call for democratic control of essential services such as water supply and transport. Chamberlain, though, feared that giving up "the town hall for the cabinet" might prove a "sorry" career change. Burnham had long set his rights on Downing Street. The town halls are waiting.
The writer is an FT contributing editor
What the City needs from the new government
Philip Augar
was working in the City the last time there was a Healey in Number 11 Downing Street. That was Denis, himself in from 1978-79, who had been defence secretary in a prior Labour government part like the present incumbent, John Healey.
The first Healey walked into a national crisis. The country was still ending from a minor's office and a state of affairs called by the previous Conservative government. Industry was broken by the compulsory three-day work. Inflation was pushing 10 per cent.
These problems were not of his making but the attempted solutions were. Healey's 1979 budget raised the total cost of 1,000,000 and had had had any rate to 40 per cent. The threshold for paying a 15 per cent surcharge on investment income was lowered. A wealth tax was proposed. Price controls and a record trade gap went long
gift yields to 16 per cent, resulting in a sterling crisis and an IMF bailout. These were the 1970s, the decade before, according to Prime Minister Andy Burnham, not liberally since around.
City traditionalists do not see it like that. The seventies were an especially hellish decade, with several small exchange firms going under, a Bank of England rescue of the smaller banks and a property crash. Margaret Thatcher's neoliberal government, in this concerned the economy and the City around, laying the foundations for a golden quarter-century in which the UK's IMF growth was near the top of the 1/2 and financial services flourished.
Thatcher's critics – and there are plenty in the City – councils that deregulation, market competition and a focus on profit brought benefits. However, they say, there were outweighed by short turnsties, the following out of the industrial sector and eventually the Great Financial Crisis of 2008. The aftershock is still with us in low GDP growth.
What would the City like from the Burnham Healey axis? Notwithstanding the prime minister's apparent mor-
talpha, anything but the 1970s is the short myth. No neoliberalism either, under headweight will.
This government must retain the confidence of overseas investors if it is to succeed. The UK Debt Management Office forecasts total gift sales of £2,000m in this financial year 2010-17. A one point increase in long gift yields (such as occurred under La Trance) adds £2.2bn.
The message should be get public spending down and investors will support the growth plans
to annual public borrowing and endless financial dislocation.
The tax and spend question is the critical decision for Burnham and Healey. It needs gripping quickly to avoid the economy arising up in a mixture of second-guessing. Get it wrong and the party is over: get it right and a mandate to implement the government's radical rhetoric for devolution, public control and equality is there for the taking.
But although resolving tax and spend is necessary, it is not sufficient without long-term scheme of British industry. Stripping away layers of regulation, raising damage restrictions and further reform of business rates would be low-cost signals of a change in tempo. In the setting the direction of sectoral growth, preferably by endorsing the existing industrial strategy, juiced with public sector investment.
But the state lacks the skills and the money to receive on its own the 21st-century collapse in private-sector investment. In this period, rich sworn, actually and consultant-led investing caused pension funds to prefer gifts and global passive funds to active investment in quoted and unquoted British companies. Too often, entrepreneurship was stifled or simply fled overseas through lack of capital.
This is where Burnham and Healey were not yet lucky. The UK Debtsmen House Accord, driven by their immediate predecessors, commits the 17 pension fund providers who signed it to invest at least 10 per cent of their workplace portfolios in productive, economy-boosting assets by 2050.
They have promised that at least half of this will be in the UK, a £2.5bn in less into the private sector that can make a serious difference. The new government needs to get behind this, smooth out administrative roadblocks and keep up the pressure on the institutions to be more.
The City and a soft-left Labour government are not natural allies but they need each other. Unlike the 1970s, when it is now not a country productive and not accompanied by a coherent growth plan, there is a conversation to be had here. The City's message should be get public spending down and investors will support the growth plans.
The government has to deliver on the spending side and be sensible on tax. In return the City should be prepared to pay its dues. This involves accepting in share of tax rises even if they fall on its own industry, stop lobbying for further financial services deregulation (which has already gone too far) and stepping back from threats to take the ball home. If it doesn't like the reform.
The writer is the author of several books on the City and Wall Street
Cosy femicide in novels should alarm us all
Wendy Jones
Killing women with books. In the world that the politician Ann Waldensmelt was brutally murdered at home, seven out of ten novels in The
Family Times bestselling fiction paperback but featured the murder of a woman, with another having a recently between central female characters. The Halftonford Man by Robert Galbraith and The Family Friend by Claire Douglas kill off two female characters each.
Let's crunch the numbers. Of the US, 9% copies of the twenties sold that week, 84,760 revolve around women living killed one way or another.
By strange coincidence, this figure is close to the 45,000 women the US estimates are killed intentionally by men worldwide in each of the books each year.
There is a smorgashed of creative methods of murder in the week's best-seller list: poisoned ginger cookies, a fatal beating, a car bomb, a beheading and being pushed off a cliff at a local outside spot, Granted, The Impossible Fortune – the most recent instalment of Richard Oswald's cosy series series The Thursday Murder Club – which has sold over 450,000 copies so far, has a female character who accidentally kills herself. So not quite 'cosy femicide', but none of the books were used featuring a dead woman as plot device.
What is shocking about this, apart from the obvious, is that we have become inured to it.
Our ex seems particularly obsessed. Shakespeare wrote around 17 plays with more than 1,000 characters, in which 16 per cent – 15% – are women, and of whom five are murdered by men. Two of them, Deukerema and Emilia, are in 1980s. Dickens has around 1,000 characters, of which only one major heroine is killed by a man – spoiler alert – France's brother Paul.
Why does violence against women in popular fiction go unnoticed? Take a
Why does violence against women in popular fiction go unnoticed?
corollary – imagine French work's bestselling list were to include ten novels all focused on the same subject matter. As, for example, on the environment or American politics. We would check the obsession, question our fearless, debate it widely. Yet our subject does prove that in work after work, and we don't seem to care. If there were a list on which nine out of 10 novels existed on Black men being murdered – also utterly unacceptable – we would see more clearly this perverse bent we have in our reading matter.
Country arguments state that it's often women who write these books. Correct – seven of the 10 authors on the bestsellers list that work were women (including JoAnne Galbraith, the pen name of J.R. Newing...).
It's also women who read them. About 80 per cent of fiction books in the UK, US and Canada are bought by women. The implied syllogism is that because women create and consume these novels, they surely enjoy them. And, in writers' defence, any murder is in fact rich but material, involving possible blood, weaponry, secrecy, police, law, punishment and in many residents, sex. Why wouldn't publishers want to publish such books when they sell so well?
But I'm argument to have nuanced than that. To paraphrase Margaret Atwood, "Men are afraid women will laugh at them, women are afraid men will kill them." Anxiety and the need to face our worst fears in the "bit's pre-trend" of novels seem to me most likely to play a part in why women read each book. Let me merely wonder self-disregard and women enjoyment. What does the ubiquitousness of such violence do unaliesely to women's sense of safety today?
I'm not advocating for justice, where more men are murdered in fiction that would be the ultimate race to the bottom. I'm not advocating for a blame game either. I am instead suggesting that if we are to be consumed by the desire to read more in which women are murdered, we must become aware of what we are doing in the future.
The writer is the author of "Wendy Jones of the Artist as a Young Girl", infographic of Grayson Perry
- June 2016 2:00 PM
FT Weekend
13
FT Series A new wave of Chinese carmakers is targeting Europeans with a 'cool' factor rather than just a low-price pitch ● PAGE 15
Companies & Markets
SK Hynia chair ordered to pay $640mn in divorce of century*
● Seoul court orders record settlement ● Extramarital affair led to legal battle
Roh-bek-young, above at an earlier hearing, was awarded $64.4mn by the Seoul High Court, finalising a case that has gripped South Korea
SONG CHEN-6 - 13/06/16
A South Korean court has ordered Chey Tae-won, the chief of Al-Ahspnaker M. Hynia, to pay more than $640mn to his former wife, capping a decade-long legal battle killed in the country as the 'divorce of the century'.
The Seoul High Court yesterday awarded Roh-bek-young, the daughter of a former South Korean president, Wardwine (Baltons) in a ruling more than 10 years after Chey first revealed an extramarital affair.
The figures in a significant case are from a lower court order in 2012 that ordered Chey to pay Womile Ilse as a property settlement.
The Seoul High Court said its ruling took into account the large group of the value of Chey's shares as his fortune grew alongside the Al Iwons. M. Hynia's valuation has scored about 2,000 per cent since he filed for divorce in 2015.
'It's about price has even sharply during the court proceedings ... we can't say that chairman Chey's managerial contributions played we risk to the increase,' the court said. 'We took this charge rise in 80,3 share price into account when determining the settlement in order to ensure a fair distribution of the couple's unsealed assets.'
The award is the largest divorce pay-out ever in South Korea and represents
roughly 12 per cent of Chey's estimated $3.4bn fortune, according to the Bloomberg Billionaires Index.
The case has gripped the country, with local media dubbing it the 'divorce of the century' because of the high-priced parties. M. Young, which owns SK Hynia, is the country's second largest conglomerate, and Roh is the daughter of Roh Tae-won, South Korea's first domestic and all-loored president.
Chey's global profile has risen, with SK Hynia reporting record earnings as Wolde's leading supplier of high-hand-to-loss money chip-on-AA premiums.
He has frequently appeared alongside Wolde's chief executive James Young, including at a third cholera restaurant in Seoul last month, underscoring SK Hynia's central role in the global Al-supply chain. He also rang the opening bell
at SK Hynia's Nanda Jining this month.
Analysis said the ruling was unlikely to weaken Chey's control of the conglomerate because he could finance the
pay-out by telling his stake in non-core businesses such as silicon-under maker SK Kilivon or by taking out equity-backed loans.
The court allocated a third of the value of Chey's shares in SK Inc, SK Group's holding company, to Roh-bek-young the had reported nearly half. It said the payment could be made in cash, allowing Chey to retain his stake.
'There will be no longer impact on Chey's grip,' said Park Jo-gun, head of corporate research group Leaders Index, adding that he was unlikely to appeal 'given all the controversy over the past decade'.
Chey's lawyers said they would
'decide whether to appeal after reviewing the right,' Roth's lawyers declined to comment.
The try-out marriage began to fall apart in public in 2015 when Chey published a three-page letter in a South Korean newspaper revealing an extramarital affair that produces a child.
Two years later he sought divorce mediation, but the couple failed to agree on how to divide their assets. After a lower court ruling was appealed, the Seoul High Court in 2014 increased the award to Ward-6 Inc, plus Ward-6 in all-rooms, after finding that a Ward-6 Inc. share bond created by Roh Tae-won had contributed to SK Group's growth.
The Supreme Court later returned the award to the Seoul High Court, ruling that the ex-president's Illeck had could not be treated as his daughter's contribution when dividing the couple's assets.
Chey, a nephew of SK Group's founder, argued that much of his wealth was inherited and should not be treated as marital property. He has led the conglomerate since 1998, expanding it from textiles and oil into alternative energy, semi-conductors and EV batteries.
His empire spans more than 100 companies, including SK Hynia, the world's second-largest memory-chip maker. M. Yeh-men, South Korea's biggest review carrier, and the energy group SK Innovation.
The court also noted that the court also should now seek to agree on key protections for employees, shareholders and contractors, using(a) the vote also in China fell 15 a per cent in the first half of this year, with the trend accelerating in the year has been on. By contrast, the German manufacturers' total sales have increased in Europe and North America this year.
Chinese manufacturers had 'sharply increased exports, adding pressure to Europe' (Blume said, with rising competition affecting the entire auto industry. Chinese carmakers had made particular threats in the market for Hybrids, Blume added, and the expel the EU to create a 'level placing field' in the segment by increasing tariffs.
Banks
Commercials calls for talks with UniCredit over takeover
FLORENCK-CALL - FRANKFURT
Volkswagen has slashed its annual revenue outlook, piling pressure on the German car manufacturer's chief executive Oliver Blume to push through new cost-selling measures that include a record number of job cuts.
The world's second largest carmaker by volume said it expected sales to fall by up to 1 per cent this year, compared with a previous forecast of a 5 per cent increase on last year's €125.9bn revenues, because of falling sales in China.
Between April and June this year VW's operating profit declined 9.5 per cent to €1.5bn, below analyst estimates of a small increase to €1.9bn.
The lower than expected figures will add pressure on Blume's radical cost-cutting programme, which was expected by VW's supervisory board this month because of strong opposition from union representatives.
Blume's plans could provide VW cutting another 50,000 jobs globally - denoting the size of the reduction already agreed by unions - and clear production at base of its first in Germany.
The programme, which includes halving the number of models and the role of new cars, would help the company 'because even more innovative, basic, more attractive and robust' - and continually expand the 'old-average-strong-3-second' (Blume said).
Despite initial opposition from union representatives to further job cuts, Blume said he expected an agreement to
be reached on all elements of the plan this year.
'VW management is trying to walk the tightrope of reassuring investors while at the same time telling its workforce that the home is on fire,' Stephen Rothman, former analyst, said in a note, pointing to the company's profit margin guidance which furnished the budget despite the risk to sales expectations.
A wonder car market in China has added to the difficulties for western
'VW is trying to reassure investors while at the same time telling its workforce that the house is on fire'
carmakers' sales have declined as domestic manufacturers have grabbed market share. VW's unit sales in China fell 15 a per cent in the first half of this year, with the trend accelerating in the year has been on. By contrast, the German manufacturers' total sales have increased in Europe and North America this year.
Chinese manufacturers had 'sharply increased exports, adding pressure to Europe' (Blume said, with rising competition affecting the entire auto industry. Chinese carmakers had made particular threats in the market for Hybrids, Blume added, and the expel the EU to create a 'level placing field' in the segment by increasing tariffs.
Banks
Commercials calls for talks with UniCredit over takeover
FLORENCK-CALL - FRANKFURT
SUSAN BERNARD - FRANKFURT
Commercials chair jone Widdisman has called for talks with UniCredit, acknowledging that the Italian bank is likely to succeed in taking control of the German tender after a takeover battle lasting almost two years.
Widdisman's comments underlie a shift to a more conciliatory team towards Milan brand UniCredit, whose efforts to take control have been resisted by Germany's second-largest leader.
UniCredit's role in a new year 50 per cent holding in Commercials after it asked investors to tender their shares in the 2016 final sheet this month.
'Even though we would have preferred things to be different, the balance of power at the next annual general meeting is clear,' Widdisman said yesterday.
He added that the two sides should now seek to agree on key protections for employees, shareholders and contractors, using(a) the vote also in UniCredit's interests and that there would be 'no shortcut through further,' everyone would be able to add more.
Commercials's softening of
approach is being mirrored by the German government, which owes about 10 per cent of the leader, and has ruled out the bank's management and supervisory board in opposing a deal.
Chancellor Friedrich Herz said last week that he did 'not like being this merger or this takeover,' but has disappeared in the 'confrontation' and at times 'aggressive' manner in which the deal was signed.
He added that the government had not tendered its near 12 per cent stake in the bank, but had to 'accept that a significant proportion of Commercials's owners have decided otherwise.'
The app began in September 2014 when a government election of a 5 per cent stake unexpectedly handed the entire block to UniCredit, helping it build an initial 9 per cent holding. It now owns 26.6 per cent directly, with its overall position set to rise to 8.5 per cent after its takeover offer.
UniCredit said on Thursday that it expected to control shares 50 per cent of Commercials's voting rights once regulators approved the transfer of shares tendered solely its takeover offer. The app also could come as early as the end of the year.
Food & beverage. Takeaway
Corporate pizza chains lose big slice of sales to growing array of delivery apps
Pioneers such as Dominic's are battling wider menu choices and tighter service speeds
KALIT ZIMMERMAN - NEW YORK
Big pizza chains are struggling to deliver apps level the playing field with other restaurants, giving independent priorities and other common access to a market once dominated by corporate pizza's series of drivers.
Papa Johns plans to close about 200 locations by December. Pizza Hut was sold to private equity last month. And shares in Dominic's later did about 10 per cent in the past year. Chain pizza revenue also had to fall in 2013 after years of slowing growth, according to market research firm De Jouvet.
Dominic's, which reports earnings on Monday, lowered its guidance last quarter, blaming high inflation and petrol prices. Chief executive Russell Winter said he thought Dominic's delivery business would improve when the economy does, and that the company could still grow comparable sales this year.
Chains are also fighting to keep pace with delivery app features: last quarter,
Papa Johns launched five delivery teaching in its app nationwide.
Analysis say a significant reason for pizza's tumble is a long-term challenge facing the delivery business.
Once, pizza chains' delivery appars me was the biggest game in town for hungry consumers who wanted but food at their door. Now, the likes of Uber Eats and DowDuck mean other types of restaurants have easy access to the capability that once set Dominic's and its peers apart, delivery sales at quick service times chains have slipped roughly 15 per cent since 2012, according to JPMorgan.
Dominic's declined to comment, citing the earnings apart period, Papa Johns and Tom Brooks, which owns Pizza Hut until the sale chaos, did not respond to requests for comment.
While delivery apps debated in the mid-2010s, they flourished during the Covid-19 pandemic. Uber Eats and DowDuck both saw revenue roughly triple in 2020.
The rise of delivery apps provided a short-term boost for senior pizza companies, Papa Johns and Pizza Hut, which both joined the apps in the late 2010s, said that the availability of third-party delivery drivers helped them mitigate a pandemic-encourage shortage.
Dominic's, which stayed true to its proprietary delivery service, told investors in 2012 that the 'stark impact' of staffing shortages had significantly affected delivery sales. But even as the labour shortage receded in 2013, the delivery business at pizza chains continued to decline. According to JPMorgan, total delivery sales at US quick service pizza chains fell from $19.8bn in 2012 to $17.2bn in 2012 - and then kept falling to $16.5bn in 2015.
Analysis said third-party apps have dramatically increased the competitive pressure facing pizza delivery from all sides.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all launched mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all included mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all included mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all included mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all included mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all included mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all included mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all included mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all included mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all included mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all included mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all included mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all included mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all included mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all included mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all included mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all included mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all included mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all included mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.
Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all included mobile ordering apps by the early 2010s, which allowed the chains to offer a smoother ordering process than independent priorities and
diminished.[{"box_2d": [169, 999, 322, 999], "label": "text", "caption": "Pizza chains 'used to have a large gap relative to competition where it came to technology,' said Jay Tower, an analyst at Citibank. Pizza Hut, Papa Johns and Dominic's all included mobile ordering apps by the early
14
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25 June/26 June 2020
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Partners at top UK law firms bring home record pay
Hong Kong listings buoy earnings at legal groups including Linklaters
BUD. RING - LONDON
Partners at top UK law firms pocketed record pay package that year, an emergency to Asia activity often a mere druggic & domestic market low legal advice. Equity partners at Linklaters and UK for UK law's such book house an average of £2.3mn and £2.3mn respectively for the year to the end of April, bearing their own records, while AAO Chairman
partners received £2.3mn. Mild market firms Ashurst and Simmons & Simmons also reported their highest over profit per equity partner at £2.6mn and £2.25mn. The results were helped by several new listings in Hong Kong, boosting initial public offering work for law firms as well as advice on related transactions on the continent. Linklaters' profits rose 36 per cent in Asia while Clifford Chance reported revenue growth of 24 per cent. The two firms each took roles on four of the 10 largest listings last year. Ashurst also reported a 21 per cent rise in Hong Kong
revenue. 'Who are a critical part of what we do because they are often a gateway into lots of other things, for example [mergers and acquisitions],' said Paul Lewis, global managing partner of Linklaters. 'So it's been the home this year.' The increases follow a spell of intense recruitment among firms in the region in anticipation of the uptick in activity. Lewis said Linklaters started recruiting heavily in Asia two years ago. 'Capital markets is one of the few areas where partner hiring activity often starts to increase before the broader market fully recovers,' said Sonia Taylor, a director of Hong Kong
legal headmaster founder Consultants. She added: 'When firms begin investing in senior equity capital markets tail out, it's usually a sign that they expect deal flow to continue rather than being a short term again.' UK founded firms have also benefited from a retreat by the US sector in Asia, prompting referrals of business to the new American peers, according to Emily Monastiridis, global managing partner of Simmons. About 20 US firms have exited the countries entirely, closed offices or changed their alliance set-ups in China and Hong Kong since 2020.
'We're handling down our Asia. As other firms retreat from the region, it creates a real gap in the market,' said Monastiridis. Simmons and AAO Chairman in net break out revenues and profit by geography. The buoyest activity in Asia was to continue to move subdued UK market. All of the firms that report revenues or profits by region posted single digit or low double-digit rises, which - when not against annual hourly rate increases from firms - suggests slower growth, said Scott Gibson, founder of London legal services of Glosario Gibson.
'We're handling down our Asia. As other firms retreat from the region, it creates a real gap in the market,' said Monastiridis. Simmons and AAO Chairman in net break out revenues and profit by geography. The buoyest activity in Asia was to continue to move subdued UK market. All of the firms that report revenues or profits by region posted single digit or low double-digit rises, which - when not against annual hourly rate increases from firms - suggests slower growth, said Scott Gibson, founder of London legal services of Glosario Gibson.
New Zealand's Rocket Lab founder takes on star players
Peter Beck
Founder and chief executive, Rocket Lab
After successfully launching New Zealand's first rocket into space, billionaire Sir Peter Beck is setting his rights on taking on Elon Musk and Jaff Boons in the internet satellite business.
Last month, the Rocket Lab founder signed the biggest cheque of his life, agreeing to pay $80m for US-listed satellite communications and other toldums.
The lead adds a valuable network and spectrum - often called the 'likelihood of the mobile industry' - in the New Zealand founded business, which makes and launches rockets and other space components.
'It's a big swing for Rocket Lab to go and buy the existing rocket, but at the end of the day it's a positive cash-generating business that's well established,' Beck told the FT.
Founded in 2008 with the goal of launching lightweight rockets more cheaply and frequently than traditional methods, Rocket Lab is a smaller rival to Musk's SpaceX and Nanos's Max Origin in terms of valuation.
It made its first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'[{"box_2d": [6, 429, 159, 429], "label": "text", "captioncaptioncaption [BBOX]0.0000,0.3200,0.1200,0.3200[/BBOX]"}]
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.
'When you compare to its left and Elon, we are definitely the plucky upstart,' said Beck. 'You don't bear any indication for the future, but it's a big swing for Rocket Lab to expand into satellite services.'
The first successful launch in 2009, and by 2017 in orbital Electron rockets had emerged as a competitor to SpaceX's Falcon Fire satellite launches.[{"box_2d": [6, 429, 159,
25 June/06 Jun 2020
PT Wiceland
15
COMPANIES & MARKETS
New wave of China carmakers targets Europe
FT Series Tech-focused smaller brands such as Xiaomi aim to export 'cool' factor rather than just appeal of low prices
KANE WALKER | JONSON
EDWARD WINTZ | KENNEDY
BERNESTER KIM | FRANK PITTS
Barely two years after launching its car business, China's largest smartphone maker Xiaomi is seeking to become one of Europe's top five premium brands.
The company has chosen Germany, one of the region's most fiercely competitive markets, to launch its Europe next year. Looking to reach the region's premium market by 2020, it has recruited engineers and designers from BMW, Porsche and Tesla.
Unilever China's new industry meets to aim higher to create truly world-class vehicles, Xiaomi's founder Lei Jun said at the Beijing Area Show in April. "That's the clear Xiaomi car bring."
The group is at the forefront of a new wave of tech-focused Chinese electric vehicle makers, including Xpeng Li Auto and Haन्सi Inached Aito, seeking to expand overseas.
Some European dealers have started to make the newer Chinese carmakers with advanced software and autonomous technologies entering markets behind the bigger brands.
Though smaller and less well known overseas, the companies have been building clear in the fiercely competitive Chinese market, especially among younger consumers. Some, such as Xiaomi, have a soft-line following.
"I suspect the best is yet to come for Chinese vehicles," said Nathan Coe,
"We don't want to be seen as just another EV brand with affordability as our number one calling point"
Chief executive of the US Unigene online car marketplace Auto Trades, citing the rapid pace of technology losses from a among Chinese manufacturers.
The new wave of China's tech-led EV companies comes as the country's leading carmakers, but by BYD, are fast becoming household names globally in the space of just two years.
With a wide range of offerings covering EVs, plug-in hybrid and even petrol engine models, the Chinese brands have together grabbed a 9 per cent share of new car sales in Europe and 12 per cent share of the market. The car marketed the year in May alone, one in 10 new vehicles sold in Europe over Chinese for the first time.
Consultancy AlloPartners estimates that the Chinese share in the EV could rise to 16 per cent by 2020 as compared to 2019, compared with the arrival of Xaomi and others newer brands. That would almost be on a par with the combined forecast share of the Japanese and Korean brands.
Compared with the mainstream domestic carmakers, which are popular in China for their affordable and reliable car models, Ernan Col, car and consumer analyst at Gershall Records, said that the new EV markets were "stars" to terms of the "cool" factor.
"They started out for their excellent product design, advanced technology and premium, spacious partners," Col said. "They build and sell cars more like tech companies than traditional manufacturers."
Among such brands, Li Auto has recently sold 8 planned to enter Europe with its 44 model — China's third best-selling electric sport utility vehicle — in the second half of this year. The group's founder Li Xiang said the carmaker would also target the Middle East and control Asia in addition to each next Asia.
Xiaomi's most popular model in China had higher sales than many BYD EVs
Sales of top 10 EV manufacturers and models, Jan-Apr 2020 (1000)
Xiaomi's most popular model in China had higher sales than many BYD EVs
Sales of top 10 EV manufacturers and models, Jan-Apr 2020 vs 2020 (1)
Li Auto's share of China's history only and plug-in hybrid market this year stood at 4.4 per cent, making it the country's eighth-bigger EV brand by sales, according to Shanghai consultancy Accountability.
Volkswagen-backed Xpeng, which will produce its fourth model at contract manufacturer Magno Strych's plant in Austria, wants to bring out just its electric and autonomous vehicles but also its flying cars and humanoid robots to international markets.
"We don't want to be viewed as just another EV brand with affordability as our number one calling point," said Brian Gu, Xpeng's vice-chair. "Xpeng spent so much investing in leading technology. We want that to also be left to our products worldwide."
While not an owner of car brands, industry executives are blamed placing a bigger role in overseas markets, becoming a core supplier of software and hardware in the sector.
Car-off from American chips, the telecommunications group strengthened its own semiconductor capabilities and is developing vehicles with six Chinese car brands.
Among those, Aito, operated by once nearly bankrupt Strych, showcased its history EVs in Europe last year and is further along in its international goals.
With its advanced driver assistance technologies, Aito was the third most recommended brand in China EV and plug-in hybrid category in the first half of this year followed by Xiaomi and Li Auto, according to Landboats, a Chinese automotive consultancy that tracks customer satisfaction.
Aito-chair John Zhang is aiming to move than double the group's annual sales in new vehicles by 2020, including by expanding sales to the Middle East and Europe, home industry executives
From top left, clockwise the interior of the Aito 500 model, a Xiaomi 007, the interior of a Li Auto Huge with a large entertainment video screen and a rendering of the BYD e Platform 3.0. Below, a Serbian employee at a Xiaomi plant in Beijing, Bottom, an Aito 500 on display at a dealership in Beijing
©2020 AITO 500. All rights reserved.
Xiaomi's most popular model in China has been designed to be a new market for the first time.
have continued, though, whether western restrictions on Huawei technology can damage these plans.
Both the niche Chinese brands and bigger groups such as BYD are also looking to crack the European premium market in the pursuit of bigger petrol weights as per the niche domestic market down. To Le, founder of consultancy316c Auto Insights, said the "next wave" of Chinese EVs reaching European shares would pitch their brands as premium but probably price the vehicles between lower-cost Chinese models and higher-end European brands.
However, he added there was a risk that China's brand price were could also be expected. "I would be concerned if I was Mercedes-Benz, BMW or Porsche," Le said of the three premium German brands.
Some dealers are sceptical about the success of smaller Chinese brands in higher-end markets, noting that even Japanese and South Korean rivals have the decades struggled to crack the European premium segment where brand loyalty is strong.
Bachhard Weller, president of the Association of German Car Dealers, warned that newer Chinese brands in the premium category that have become popular in their home market might not be used in Europe.
"My products are what they want [yale and]," said Weller, who also runs one of Germany's largest dealerships for BMW, BYD and MG. The German premium brands were "firmly entrenched", making it difficult for newcomers to crack the segment, as explained.
"It's not just one of them who has failed. It's all of them," he said of the other non-European manufacturers that had ventured into the premium segment.
Newer brands such as US-blend Li Auto and Beijing brand Xiaomi may be at a disadvantage as they do not sell vehicles through dealerships — like BYD, Chevy and Gamp — but directly to consumers through their own owners.
That appears has historically proved challenging in Europe with earlier Chinese entrants such as Nio and Linki Co being forced to shift to conventional dealerships and distributors following sluggish sales.
Steve Young, managing director of automotive research company KOP and Auto West London, an friends and lawyer dealer, said there were other unknowns, such as how Xiaomi and other tech-based start-ups would handle "ongoing availability of parts and technical support" for software over the long run.
"This may differ from the traditional manufacturers and has not really been tested yet, even in China," Young said, using the companies' short history.
Pit Battig, chief executive of Jaguar Land Street, said Chinese rivals "will come eventually," who the future is open.
He said, though, that he was not worried. "I want to keep the customer base where I want to serve, and as long as we're in the bottom we'll be there."
Bill, Lei at Xiaomi is concerned the group's technological edge will win over new loan. Last month, its FUT-OF HCV completed the world's first autonomous lap at the German race circuit. With judging in 10 minutes, underscoring its focus on self-driving technology as a "good quality for its EVs."
"Xiaomi is the first challenge," Lei wrote on social media. "I believe that in a few more years, Xiaomi's intelligent driving technology will bring even more amazing progress."
This is the first in a series of articles about Chinese carmakers in Europe.
Technology: Hardware
Intel smashes Wall Street's sales forecasts as AI data centres fuel appetite for chips
US manufacturer gains $168m in revenue following feeding frenzy for its processor units
MICHAEL ACTON - JAY/MICHAEL
Intel has reported its fastest revenue growth in 21 years and added $218m to its capital spending plans as demand for chips used in AI data centres accelerated its financial turnaround.
Compared with its $16.28m in the three months to the end of June, up 23 per cent year on year, and Intel forecast $15.68m $14.48m in sales for the current quarter, for exceeding Wall Street expectations.
The US group has rebounded from several difficult levels of investment backing from the Trump administration for its costly push to regain its status as America's only world-class processor chipmaker.
Intel on Thursday also raised its
planned capital spending for this year from $180m to $200m and forecast higher spending into 2017. The stock rallied 4 per cent in after-hours trading but was down more than 3 per cent by more yesterday.
Intel's shares could to all-time highs this spring after bumpy earnings three months ago but have retreated almost 21 per cent in the past month alongside other chip stocks as investors worry about the sustainability of the AI call.
"AI is driving more emotional demand for compact, and as we continue to execute, Intel is well positioned to capture sustainable growth," said Intel chief executive Lip-Ba Tau. The "New Intel" was taking shape, he added.
The company's revenue growth for the June quarter was largely driven by demand and price adjustments for Intel-designed chips, with the product revenue hitting $13.3m, well above estimates of $15.68m.
Foundry revenue, relating to its critical manufacturing business, beat expe-
tations at $1.48m, up 31 per cent from a year ago. Intel's data centre and AI business revenue — relating to the server chips used in the infrastructure that trains and runs AI models — was up 19 per cent to $6.2bn, above the $1.48m analysts expected, according to Visible
Intel revenues have grown at the fastest pace since 2015
Source: S&P Visible Rights (2020)
Alpha. Having faced an uncertain future only a year ago, Intel is gaining ground thanks to surging demand for its central processing units (CPU) and the promise of new clients for its semiconductor manufacturing business.
Intel, alongside chip designers AMD
Its stock has dipped after reaching record highs
and Arm, has pointed to a greater demand for CPU in the infrastructure needed to run AI applications through a process known as "reference".
CPU's have grown in importance relative to the graphics processing units (GPCs) specialized in the massive parallel computations needed to train advanced AI models, which dominates the first stage of the AI infrastructure boom. AMD chief executive Lisa Su raised the company's projections for how large the CPU market would be by the end of the decade to $2.050m, from a recent $2.05m estimate.
The Trump administration has more while thrown its weight behind Intel as the US's only contender to match Taiwan's semiconductor Manufacturing Company as a maker of top-flight processor chips. The US government struck a deal to take a 10 per cent stake in the market last year.
Tao has since secured multifil662-dollar investments from Nvidia and SoftBank and announced plans to work
with Elon Musk on his "Terdub" manufacturing project, all while pursuing company research.
Adapted net income rose to $2.2bn. The income under the generally accepted accounting principles swung to an $210m loss because of volatility and the shares held in escrow under Intel's investment with the government. Intel alone to compete with Nvidia and AMD with its own AI accelerator chip later this year and is trying to have big manufacturing clients such as Apple and Samsung.
Only last year, Tao had warned Intel might abandon its latest manufacturing process — known as IAA — if it were unable to land customers to justify the massive investment.
Trump in June pre-emptively criticized that Apple's investment using Intel as a manufacturer in June, a claim that neither company has confirmed.
Tao said the company was "fully committed" to high-volume production on IAA in 2020.
16
•
PT Wiceland
25 June/26 June 2006
UK COMPANIES
Property Construction
Burnham's building ambition
Confronts industry in turmoil
UK-listed housebuilders have
issued eight profit warnings
during the first half of 2026
ASHLEY ARBSTRONG, JENNIFER
WILLIAMS, JIM PICKARD AND
NATHAN BERRY
Property experts have questioned whether Prime Minister Andy Burnham's key mission to build the most coined homes since the postwar period will survive around with reality, given turmoil the housebuilding industry.
Burnham has put the housing crisis at the center of the business agenda, but property experts highlight that while Labour pitches at nearly until the start of building, 1,1mm new houses when it came to power two years ago, there have been few houses built since then than under the Conservatives.
The housing sector, which has grown accustomed to a revolving door of ministers, is still hoped to sell to the benefit from greater political attention with the appointment of John Healey as chancelist.
Attention is needed. UK-listed housebuilders have issued eight profit warnings during the first half of 2026, including in the second quarter of this year, the highest first half total since the previous period, according to FT Parthenon Profit Warnings watch. The sector faces falling forward and rising costs.
The early days of the new era have led to new reasons about whether a government led to Burnham – who has been explicit about the need for more public ownership of nationally important groups – could adopt a more radical approach, including one control.
This is report that porthons for Vistry, the housebuilding housebuilder.
Nick Williams, a former infrastructure advisor to the East Business, recently wrote a private memo arguing that Vistry should be nationalised and turned into a new "delivery body" for the government's plans.
Although Williams felt frowning threat more than a year ago, he has been recently alerting Canon Wright, the incoming first secretary and Cabinet office minister.
In his paper from earlier this year, Williams argued ministers could use legislation to rationalise Vistry in the way the government recently took control over the 1st half of 2026.
"It is a ready-made delivery body for strategic projects like New Towns, requiring it would be faster and simpler than building a public corporation from the 2nd quarter. It currently would be worse in the paper, seen by the FT," he recapitulates would be a politically significant point for the strategic power of Burnham's.
Williams declined to comment.
Nationalisation is not an option the government is currently countering, said a general handler with the situation.
Vistry said: "There has been no discussions between Vistry and the government on this matter. We have made it clear that we are prioritising sub-generations and are talking decisive steps to the future of work, and we have made significant progress over the past few months.
"While current market conditions are challenging for the companies in our sector, we continue to build at scale and pace, delivering the homes this country so desperately needs, including just under 6,000 in the first half alone."
Nevertheless, the government has been monitoring Vistry, whose vision has fallen 4.1.2bn at the this year. The group's involvement in public sector
Labour has failed to kickstart the housing sector
Completed dwellings: 1500
Source: DWI - Consolidated Survey, 1996
UK housebuilder share prices rose when Labour was elected
but have fallen further since
Weekly price: six largest housebuilders: 1,012 + 1,000
Source: LWD
'Burnham has said he will set out a 10 year vision; it will take that at least to sort the housing crisis'
schemes, and its success to expanded long term grant funding at scale, meant the government would have to find new partners over the company to fail.
Last week Will Larson, director of a management secretary at the Ministry for Housing, Communities and Local Government, was asked by MPs if the government had done any "contingency planning" to cost the company entered "distrusted" status.
Nationalisation is he drawn on Vistry and said: "We monitor the performance of the big housebuilders, keep a close eye on the market and are aware of all developments," He added that the government was "in stock."
There has been "so day-to-day monitoring" and, according to a person familiar with Vistry's position.
There is also the question about how the government could fund a takeover of Vistry, which has an enterprise value of 4.1.2bn, other than another equivalent of the National Wealth Fund, said one property loan. The government is already eyeing control of Thomas Water, which is struggling under a new 4.2bn/4.0n plan.
Vistry is the UK's most heavily limited stock margin to shares falling 16 per cent in the year to date. The housebuilder, which was created through the combination of Kevin Homes and Galliard Fry six years ago, has accelerated cost cutting including voluntary redundancy programmes, but a restructuring expert said that "Vistry was not distressed enough to be considered a falling firm yet. This is not a Thomas Water situation."
Even Vistry's trial raise concerns that any attempt to increase public con-
trol would make investors back to a sector that relies on overseas buyers. "It would have to be consensual to avoid risking larger capital flights," said a chief executive to another housebuilder.
The struggle in housebuilding have been blamed on falling forward due to affordability challenges, and rising inflationary pressures. Policy costs and crisis regulation also mean that groups are not building homes that will not sell. Many development units largely of between 20 and 30 per cent set aside for local authority affordable homes.
If none of these developments are being met, "40 per cent of nothing is still nothing," one property leader said. And so the challenge of a lack of affordable housing worsens.
On top of the demand challenges, housebuilders have also been grappling with extra costs including inflation from raw materials, the Building Safety Act levy, a landfill tax and other green sales.
The Home Building Federation estimates developers are facing an extra £76,000 to save costs per home since 2020, equivalent to a fifth of the foreign new home value of £365,000. Housebuilders in the south-east have said that margins have been almost equal out and that red tape has worsened. The Building Safety Act, brought in after the Grandell Tower disaster, applies to high-rise buildings, which are more common in London and other cities.
Sarah Raymont, co-lead of global restructuring at Kevik said: "Compliance is leading to large delays and long costs. Currently, backlog are adding months to projects, which have places large financial costs and distress on some developers."
"Fall order: construction work on The Granger registration project in Windsor. Property experts say that while Labour pitched a charge of building 1.1mm new homes when it came to power, there have been fewer built since then than under the Conservatives"
Burnham has said that he intends to kick-start housebuilding by setting more public sector household space.
Publicly owned household land in England has capacity for, at least, 18,500 to 20,000 homes, according to fresh analysis by border Together, using data from property platform boardland. That compares with a 500,000 social and affordable home programme that Labour has previously announced.
The new 1.1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.20.21.22.23.24.25.26.27.28.29.30.31.32.33.34.35.36.37.38.39.40.41.42.43.44.45.46.47.48.49.50.51.52.53.54.55.56.57.58.59.60.61.62.63.64.65.66.67.68.69.70.71.72.73.74.75.76.77.78.79.80.81.82.83.84.85.86.87.88.89.90.91.92.93.94.95.96.97.98.99.100
Others in the sector say that efforts to push disused military airfields and license hospital grounds have also run into issues with the Ministry of Defence and the implementation of the 1st half of 2026.
Burnham has said that the UK is in a "housing trap" while research shows that 1.1mm households are currently on council housing waiting lists and 176,000 children live in temporary accommodation. But the ambition to fix the 1st full size and greater collaboration with local authority housing associations, which experts claim are understaffed and do not have the resources while they avoid grant funding.
Property experts say that regulations need to be saved, planning rules accelerated and more funding added alongside a potential overpaying of 10mm long load. According to one chief executive in the sector: "Burnham has said he will set out a 10 year vision; it will take that at least to sort the housing crisis."
Financials
Compliance 'deficiencies' thwart Wise bid for US bank licence
LATIN AL-KHALAF
Wise's application for a US banking licence has been rejected by the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of the Department of
The Office of the Comptroller of the Currency said in a letter that Wise's US business had not demonstrated enough understanding of money laundering value or US banking law.
Referring Wise's application, the complaint noted "happiness" and "deficiencies" in the British National Bank money laundering and counterterrorist financing systems. The OCC said Wise would need to address these shortcomings before it could be deemed to have an effective compliance programme in its US business.
The watchdog also raised the lack of experience of Wise's proposed US management team as a factor in its rejection.
"Wise UK has no historical experience with fiduciary activities, and proposed management and directors failed to demonstrate sufficient experience with the fiduciary activities of national banks," it said.
Wise's failure to nominate directors and managers with sufficient expertise in anti money laundering rules "did not
'Since submitting this application over a year ago, our compliance maturity has evolved significantly'
reflect favourably on the application", the OCC said.
Wise's shares fell 4.9 yesterday in London yesterday, having dropped as much as 1 per cent in early August.
Wise said: "Since submitting this original application over a year ago, our business and compliance maturity have evolved significantly."
It said it had made changes in response to OCC feedback during the application process, adding that the watchdog's letter referred to "historical issues with our original application that we have been addressing".
Wise also said its application, first made last year, was new and of date instead of US President Donald Trump's election day, which regulates stabilization companies.
Wise was intends to submit a fresh application under the Union Act framework which will help it achieve a similar goal of accessing the federal payments network.
The rejection is the latest regulatory setback for Wise. Last month the group's shares fell as much as 20 per cent in our day over investigations by the new authorities into potential money laundering officers and possible use of its accounts by international criminal groups.
Last year, the group's US subsidiary was fined 44.2mn after US regulators found that it floated the bank factory Act and anti-receipt laundering law.
Wise, which has 19mn users, was founded in 2011 and specialist to cheap or free international money transfers. The rejection of Wise's application comes despite the OCC taking a more
In December, the OCC approved five applications for US banking licences, including one for new entities owned by crypto-sport companies Circle and Ripple. Both Revoke and Elstma are applying for US banking licences.
Personal & household goods
Reckitt to take £175mn hit from Russian side
MARINE RED, 1 - LONDON
Reckitt Reckitzer said it expected to take a £175mn hit from Russia but will be made including Turkish and Turkish in Russia to be out of oil.
Reckitt is Arund Management, for an undisclosed amount, marks the latest example of a western business offloading of Russian operations since Moscow's full-scale invasion of Ukraine and the Russian government.
In 2004, Arund bought Unilever's Russian business for €125m following its purchase of the Russian operation of Dutch Power Industries.
Reckitt said in April 2022 that it had "began a process aimed at transferring ownership of its Russian business". It will remain ownership of its Russian health operation.
The Russia hygiene business repre-
sented about 1 per cent of Reckitt's group revenues last year.
Changes to EU sanctions on Russia last year meant the group could no longer ship chasing products there.
Earlier this year, Reckitt said the "headwind from changing international
[The move] extricates the company from a business that cast a shadow over its first-quarter results'
sanctions" had taken a toll on first-quarter revenues for its emerging market business, which makes up 42 per cent of group sales. They rose by 54 per cent significantly lower than an expected 107 per cent increase.
Celtic oil consumer health products are
enough from the sanctions, however, and Reckitt said it retained ownership of its health business in Russia, which included brands such as Nurefax Ice Children, Hotspok, Darex and Gore.com.
The company did not disclose the value of this business.
Analysts at BMC Capital Markets said in a note: "The disposal of the Russian hygiene entity extricates the company from a business that cast a shadow over its first-quarter results, and is expected to carry on doing so for the remainder of the year."
Reckitt said that of the 4.175mn previous loss for the full year, about £125mn would be recognised in the results for the first six months of this year.
The company expected the sale to complete in the second half of 2026, subject to regulatory approval.
Utilities
South East Water gets £200mn invested in
DIAN HEAVY AND JULY, PLUMMER
COWERS
South East Water has struck a deal for £200mn from investors, as the utility battles to improve its finances.
The group, which serves 2.2mn customers in Kent and the surrounding area, said yesterday it had secured £200mn to new financing that would be used to support a future bond issuance.
The deal comes after South East Water said last week that although it had sufficient resources to use it through to July 2022, "shortly after the end of the spring concern period it will be necessary to secure new loan facilities in order to continue as a spring concern."
At the time it had been in talks with potential investors for well over a month, and added that "It is not possible to raise the additional liquidity, the
group said therefore the company would not have sufficient liquidity to meet obligations".
The company, which is saddled with a £1.7bn debt pile, has left hundreds of thousands of customers without water on several occasions. It wanted in its annual results last week that any more "adolescent" operational incidents such as water outages could mean it runs out of liquidity more quickly than expected.
Thousands of households and businesses in Tunbridge Wells were left without water again last weekend, but despite group to-see tuckers to raise drinking water storage levels to support the affected areas and deliver bottled water to customers in a priority services register, it bespeaks that has also been imposed on 2.2mn customers.
The prolonged crisis at the company prompted the instigation in May of its chair, Chris Yasin, and his chief executive from Hinton after a parliamentary meeting of the local government, said yesterday incompetent and resuming a business without a conflict of accountability. Hinton had told parliamentarian that working from home was partly to blame for a Christmas outage for Tunbridge Wells condoms.
Also in May, the utility's credit rating was downgraded to peak by rating agency Moody's, putting it in breach of the terms of its operating license.
John Hubbell, formerly a chief operating officer of the United States, said yesterday, joined an chief executive on Thursday.
South East Water said the £200mn backdrop of a future bond issuance "strengthens the company's liquidity position".
25 June 2016 3:00 PM
FT Weekend
17
COMPANIES & MARKETS
Equities. Passive exposure
Fund providers unleash ETF 'spaghetti cannon' stock hunt
Liains has top 1,000 this year
as firms attempt to copy, chip
and bitcoin portfolio success
FIFER JOHNSON - LONDON
Investment firms are on track to launch a record number of exchange traded funds this year, with more than 1,000 already debated, as they opt for a 'spaghetti cannon' approach to try to find the latest hot stock market trends.
In a total July, 1,084 new ETFs had been listed, including funds offering in-engaged fees on equity indices or individual stocks. That compares with 2015's record full year tally of 1,161 and is well above the total for any previous year, according to data from Morningstar.
The surge in launches highlights how to take range of fund providers – including relatively unknown firms with little in the way of a record of managing money – are attempting to overtake the success of which such as the Roundlist Memory ETF or the iShares Bitcoin Trust. Both are listed in billions of dollars as a matter of months by offering investors exposure to highly fashionable market themes.
The spaghetti cannon (of launches) is being wildly right now and not even hitting the wall in some instances, let alone sticking," said Bryan Armour, director of passive strategies research by North America at Morningstar.
The wave of new listings comes amid ongoing investor demand for ETFs, particularly in the US, where they offer tax advantages over more traditional mutual funds. These portfolios historically provided low-cost passive exposure to an index or group of stocks or other securities but now offer a wider range of investments.
Net inflows to US-listed ETFs exceeded that in the first half of this year, according to State Street Investment Management, which forecast full-year inflows of $2.2bn, well above the $1.5bn last year and roughly four times the typical annual amount for the early 2020s.
Roundhill's fund, which invests in a narrow group of chipmakers and has the stock market share 10.6.4%, included through $10bn in assets in just 10 days following launch, as investors channeled for exposure to stocks benefiting from the huge wave of Investment.
Some firms are taking the approach of multiple launches to extremes. Venture capital backed start-up Greg Funds began launching in December and has now debated 100 funds, including the Coffee and Energy Drinks, Roy New Pay Later and War Machine ETFs, as well as vehicles offering more leveraged exposure to Chinese interest, The Ivanov and Karnan stocks. It has filed to launch $10bn in the past year.
This puts it on course in overtake BlackRock – the world's largest asset manager, which has 4,000 US ETFs, according to StockAnalysis – as the biggest issuer by number of funds in a matter of months. However, BlackRock's assets in US ETFs total $4.2bn, compared with less than $2bn for Greg.
"We recognise that not every fund is going to be a winner," said Anthony Crinell, a portfolio manager at Corgi, adding that he anticipates that roughly 20 per cent of the funds the company launches will gather 80 per cent of its assets.
"We expect ... to be able to cover our costs by having outsize winners on enough of last 20 per cent," he added.
Almost a quarter of the year's launches have been leveraged single-stock funds in a sign of investors' growing appetite for risky fees even on volatile names. That is up from 20 per cent last year and just 6 per cent in 2014.
Leverage Shares, Crutchshares, Dillings ETFs and T-Res are among other portfolio issuers this year, largely focused on leveraged and inverse ETFs, with launches including funds offering twice the daily return on stocks such as SpaceX and H&H Inc.
Morningstar's Armour said leveraged single-stock ETFs were "unfair long-term investments on average," but
Korging watch: venture capital backed start-up Greg Funds began launching in December and has now debated 100 funds, including the Coffee and Energy Drinks ETF, which includes Starbucks shares ...
Korging watch: venture capital backed start-up Greg Funds began launching in December and has now debated 100 funds, including the Coffee and Energy Drinks ETF, which includes Starbucks shares ...
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biggest issuer by number of funds in a matter of months. However, BlackRock's assets in US ETFs total $4.2bn, compared with less than $2bn for Greg.
"We recognise that not every fund is going to be a winner," said Anthony Crinell, a portfolio manager at Corgi, adding that he anticipates that roughly 20 per cent of the funds the company launches will gather 80 per cent of its assets.
"We expect ... to be able to cover our costs by having outsize winners on enough of last 20 per cent," he added.
Almost a quarter of the year's launches have been leveraged single-stock funds in a sign of investors' growing appetite for risky fees even on volatile names. That is up from 20 per cent last year and just 6 per cent in 2014.
Leverage Shares, Crutchshares, Dillings ETFs and T-Res are among other portfolio issuers this year, largely focused on leveraged and inverse ETFs, with launches including funds offering twice the daily return on stocks such as SpaceX and H&H Inc.
Morningstar's Armour said leveraged single-stock ETFs were "unfair long-term investments on average," but
Korging watch: venture capital backed start-up Greg Funds began launching in December and has now debated 100 funds, including the Coffee and Energy Drinks ETF, which includes Starbucks shares ...
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Korging watch:
venture capital backed start-up
Greg Funds began launching
in December and has now
debated 100
funds, including
the Coffee and
Energy Drinks
ETF, which
includes
Starbucks
shares ...
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MICHELLE CHAM - NEW YORK
Ronal inventors are looking for significant
cavity higher yields on the latest $12bn
Mets backed data centre deal com-
pared with the terms secured just nine
months ago, as markets price in higher
take around 10 financing.
The newly one-gigawatt data centre
project in El Paso, Texas, is preparing to
sell bonds through a special purpose
which owned by BlackRock and other
yields of more than 12 years into during
long-trial discussions, according to pos-
able familiar with the matter.
The deal was expected to price as soon
as Monday, the people added.
The latest borrowing cost represents a
risk provision of nearly 0.4 percentage
points compared with Meta's previous
"Hyperion" data centre deal, which
raised $278bn in a record-breaking cor-
porate bond and last October.
"When you're selling price of billions of
bonds, even a 0.1-percentage-point
increase in costs would lead to
millions of additional interest or
every year," said an investment grade
debt investor. "It's very significant in the
high grade market."
The following table provides the information in English:
MICHELLE CHAM - NEW YORK
Ronal inventors are looking for
significantly higher yields on the latest $12bn
Mets backed data centre deal com-
pared with the terms secured just nine
months ago, as markets price in higher
take around 10 financing.
The newly one-gigawatt data centre
project in El Paso, Texas, is preparing to
sell bonds through a special purpose
which owned by BlackRock and other
yields of more than 12 years into during
long-trial discussions, according to pos-
able familiar with the matter.
The deal was expected to price as soon
as Monday, the people added.
The latest borrowing cost represents a
risk provision of nearly 0.4 percentage
points compared with Meta's previous
"Hyperion" data centre deal, which
raised $278bn in a record-breaking cor-
porate bond and last October.
"When you're selling price of billions of
bonds, even a 0.1-percentage-point
increase in costs would lead to
millions of additional interest or
every year," said an investment grade
debt investor. "It's very significant in the
high grade market."
The following table provides the information in English:
MICHELLE CHAM - NEW YORK
Ronal inventors are looking for
significantly higher yields on the latest $12bn
Mets backed data centre deal com-
pared with the terms secured just nine
months ago, as markets price in higher
take around 10 financing.
The newly one-gigawatt data centre
project in El Paso, Texas, is preparing to
sell bonds through a special purpose
which owned by BlackRock and other
yields of more than 12 years into during
long-trial discussions, according to pos-
able familiar with the matter.
The deal was expected to price as soon
as Monday, the people added.
The latest borrowing cost represents a
risk provision of nearly 0.4 percentage
points compared with Meta's previous
"Hyperion" data centre deal, which
raised $278bn in a record-breaking cor-
porate bond and last October.
"When you're selling price of billions of
bonds, even a 0.1-percentage-point
increase in costs would lead to
millions of additional interest or
every year," said an investment grade
debt investor. "It's very significant in the
high grade market."
The following table provides the information in English:
MICHELLE CHAM - NEW YORK
Ronal inventors are looking for
significantly higher yields on the latest $12bn
Mets backed data centre deal com-
pared with the terms secured just nine
months ago, as markets price in higher
take around 10 financing.
The newly one-gigawatt data centre
project in El Paso, Texas, is preparing to
sell bonds through a special purpose
which owned by BlackRock and other
yields of more than 12 years into during
long-trial discussions, according to pos-
able familiar with the matter.
The deal was expected to price as soon
as Monday, the people added.
The latest borrowing cost represents a
risk provision of nearly 0.4 percentage
points compared with Meta's previous
"Hyperion" data centre deal, which
raised $278bn in a record-breaking cor-
porate bond and last October.
"When you're selling price of billions of
bonds, even a 0.1-percentage-point
increase in costs would lead to
millions of additional interest or
every year," said an investment grade
debt investor. "It's very significant in the
high grade market."
The following table provides the information in English:
MICHELLE CHAM - NEW YORK
Ronal inventors are looking for
significantly higher yields on the latest $12bn
Mets backed data centre deal com-
pared with the terms secured just nine
months ago, as markets price in higher
take around 10 financing.
The newly one-gigawatt data centre
project in Louisiana - sold through an
BTY named Brigeet investor after the
2017
A 0.1 percentage-point
increase in costs would
lead to tens of millions in
extra interest expenses
A 0.1 percentage-point increase in costs would
lead to tens of millions in
extra interest expenses
A 0.1 percentage-point increase in costs would
lead to tens of millions in
extra interest expenses
A 0.1 percentage-point increase in costs would lead to
tens of millions of additional interest or
every year," said an investment grade
debt investor. "It's very significant in the
high grade market."
The following table provides the information in English:
The following table provides the information in English:
The following table provides the information in English:
The following table provides the information in English:
MICHELLE CHAM - NEW YORK
Ronal inventors are looking for
significantly higher yields on the latest $12bn
Mets backed data centre deal com-
pared with the terms secured just nine
months ago, as markets price in higher
take around 10 financing.
The newly one-gigawatt data centre
project in Louisiana - sold through an
BTY named Brigeet investor after the
2017
A 0.1 percentage-point
increase in costs would
lead to tens of millions in
extra interest expenses
A 0.1 percentage-point increase in costs would
lead to tens of millions in
extra interest expenses
A 0.1 percentage-point increase in costs would lead to
tens of millions in
extra interest expenses
A 0.1 percentage-point increase in costs would lead to[{"box_2d
18
FT Workout
25 June/26 July 2024
COMPANIES & MARKETS
On Wall Street
Axing quarterly reports can spur change in US
Dan Davies
I am 80% realized recently that it was changing corporate IT spending in not a good way for its month term
business, it did the right thing. Rather than waiting for the next set of quarterly results to give investors the bad news, it filed an immediate report known as early 4, warning on the earnings. Although it might not have left great for shareholders, who softened a 25 per cent loss following the news, this was much better than allowing a false market to exist with investors buying or holding shares on aware of the coming bad news.
But the temptation must have been mighty, particularly since the date of the second-quarter earnings release was only eight days later. In general, US corporations had to use quarterly reporting to give news about changes in trading conditions and updates to expectations. One-hundred announcement between quarters are the exceptions other than the rule. Obviously, a false market that only lasts a couple of weeks in much less of a problem than one that goes for months. So if the US has actually to move to some annual reporting, as the Securities and Exchange Commission has proposed, it will also need to change its culture when it comes to trading updates and profit warnings.
The proposal is not triggered at large backlash against the news. But it could be beneficial if done in the right way.
The goal pre-pocket lead request
reporting for companies listed on UK and European exchange is that they have an obligation for continuous disclosure. At any time, if the gap between market perception and the management's private situation about company performance becomes too large, it must be closed with an announcement. In practice after ten, this usually means that if consensus estimates are known to be more than 50 per cent out in either direction, some kind of price release is warranted.
In the US, the disclosure requirements are formally set by the SEC but in practice are determined by what you can win a shareholder (see above). Reports need to be filed on Patrick & Joe major
If consensus estimates are known to be more than 10% out, some kind of press release is warranted
corporate events like mergers, divestments and big contract wins, but there is no specific requirement to update the market simply because macroeconomic or holding conditions have changed. After all, investors find out and very inform their Wishes.
The most important exceptions to this rule at the moment are when management have previously given earnings guidance that shares has conspiritous to make it have offends.
If your statements have been rendered untrue by events, accompany to an only ground where it comes obligation and so is more likely to come to the record.
But this is an unatable story way to handle disclosure. It can't be right that updates are determined not by the importance of news, but by how embers using they render past statements. Quite apart from anything,
this provides a powerful incentive for managing the non-pracing and being useful about their expectations. And indeed, the proposition of US firms that give material earnings guidance has followed an attack by, according to a study by Wachtell, Lipton, Rosecrans Katz. Since the pandemic, only about a quarter of companies declined to estimate it. Less than half of the S&P 500 even give any guidance on an annual basis.
The costs and benefits of quarterly reporting are somewhat overstated. The US attitudes of a requirement for it in 2001 (then dropped it in 2014. Researchers did not find any measurable change in short-term behavior, but not did they find any material difference in market efficiency or valuation.
But it is possible to get the worst of both worlds, if the US have to move to some annual reporting while keeping the disclosure norms established under its previous regime. If communication between a company and its shareholders continues to be shaping the guess about what might be the need to lead to a court, if conflicts to the draw well.
And companies need to talk to investors about all sorts of things. Understanding a set of accounts needs to come from understanding the underlying business, not the other way around.
The best argument against quarterly reporting is that it wants management time while flooding investors and analysts with largely useless information, directing their attention to things that don't matter.
A better system would be one where more companies followed IBM's example and made an announcement of important news, where it mattered, rather than following any calendar.
In the last six managing directors at Franklin, Brady és and author of The Unaccountability Machine
FT FINANCIAL TIMES
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The day in the markets
What you need to know
A Nasdaq 100 index of large cap tech stocks abide an earlier volatility process. A International oil benchmark Bred falls below $500 after previous day's surge. A European daytime regular ground test analysts fear rise could be shortlisted
US chipmaker stocks slipped yesterday, extending a volatile car output similar to the 1993 new communicative giant Intel. The Nasdaq 100 index of large cap technology stocks was 0.5 per cent lower by lunchtime in New York, adding to a 10 per cent drop on Thursday with chip and memory stocks trading the declines. Sandvik was down more than 3 per cent, with Western Digital and Polson lower by about 3 per cent.
Intels share price was down 3 per cent, despite the chipmaker reporting its fastest-increase growth in 52 years in earnings after the market change in Thursday. The company increased its capital spending forecasts, adding to Wall Street's growing concern about the mammoth scale of spending on its investments.
A Nasdaq parent Alphabet's share price was 0.9% (except after dropping more than 3 per cent on Thursday, following an announcement that Google had found through cash in the second quarter to fund its infrastructure spending.
Michael Zepperi, co-head of trading at Product Investment Group, said recent share price reactions to month "Now as to wonder what could magnetic possibly report what you're under to drive that stock prices higher?" A flurry of other megasup technology stocks are due to report their second-
Oil prices dip below $100
Bred crude price (3 per barrel)
quarter earnings next week, including Microsoft, Meta, Amazon and Apple, with investors receiving closely for signs of over investment.
Beyond technology stocks were banged by oil prices dropping, having sought earlier in the week after US President Donald Trump said he was
washing a "measur attack" on Iran. Bred crude, the international oil benchmark, was trading part below 5% a barrel at lunchtime on Wall Street. A 7 per cent lower than Thursday's settling price. The S&P 500 was 0.6 per cent higher. The Stoxx Europe 600 closed up 0.8
per cent (Summary's low rate 1.3 per cent. The FTSE 500 closed 0.9 per cent higher. As stocks rebounded despite little sign of falls between the US and Iran, Marina Goodrich of Morgan Stanley said: "People have had recent events in their mind, that this could all reverse very quickly."
Government bonds also sailed on the lower oil price. The 10-year US gift sold fell 0.07 percentage points to 0.01 per cent. US Treasury yields of the same maturity were 0.05 percentage points lower at 6.05 per cent. Bond yields fall when prices rise. Emily Herbert and her Smith
Markets update
|
1 |
2 |
3 |
4 |
5 |
6 |
| Stocks |
S&P 500 |
EuroPilot 500 |
Volper 225 |
FTSE 500 |
Shanghai Group |
Revenue |
| Level |
3,518.87 |
3,518.87 |
3,518.87 |
3,518.87 |
3,518.87 |
3,518.87 |
| % change in day |
0.43 |
0.40 |
2.75 |
0.91 |
1.18 |
1.18 |
| Industry |
5 index (S&P) |
5 per € |
Yes per $ |
5 per € |
With per € |
Next per $ |
| Level |
1.3 |
1.38 |
0.3/0.4 |
1.15 |
4.37 |
0.5/0.5 |
| % change in day |
0.35 |
0.0/0.0 |
0.0% |
0.0% |
0.0% |
0.0% |
| Stock bonds |
10-Year Treasury |
10-year Bond |
10-year JOB |
10-Year S&P |
10-year Bond |
10-year Bond |
| Yield |
6.66 |
2.17 |
2.78 |
3.05 |
2.76 |
2.76 |
| Real profit charge in day |
0.04 |
0.03 |
0.01 |
0.02 |
0.00 |
0.00 |
| Stock / Common |
FTSE All-Bank |
Oil / Bond |
Oil / WTI |
Gold |
Silver |
Metals (LMEV) |
| Level |
29180 |
16.39 |
88.59 |
4075.63 |
58.85 |
5655.00 |
| % change in day |
0.11 |
-0.21 |
-0.00 |
0.63 |
2.11 |
-0.01 |
Main equity markets
Biggest movers
|
US |
|
Eurozone |
|
UK |
| Delta Pacific (T) |
0.2% |
0.2% |
Left |
1.1% |
0.2% |
| U.S. |
1.1% |
1.1% |
Second Turnover |
1.0% |
0.1% |
| Eurozone |
1.0% |
1.0% |
Third Quarter 1.0% |
1.0% |
0.1% |
| Equity |
1.0% |
1.0% |
Corporate |
1.0% |
1.0% |
| WTI |
1.0% |
1.0% |
Basic Companies |
1.0% |
1.0% |
| US Financial Markets |
1.0% |
1.0% |
Total |
1.0% |
1.0% |
| France |
1.0% |
1.0% |
Carrying |
1.0% |
1.0% |
| Italy |
1.0% |
1.0% |
Total PPE |
1.0% |
1.0% |
| United Kingdom |
1.0% |
1.0% |
FTSE Global Markets |
1.0% |
1.0% |
| Mexico Technology |
1.0% |
1.0% |
Total Public |
1.0% |
1.0% |
Price change in US$ 1.0
Source: International of the 1st business 2014
2.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.1.
Commodities
Renewable jet fuel producer Neste swings to profit after Iran war sends prices soaring
SPORTSHOO SATION — LONDON
The war in the Middle East has pushed margins on renewable fuels to exceed levels as governments and large buyers look for alternatives to fossil-fuel-derived products.
Neste, the world's biggest producer of renewable jet fuel, said its net profit for the first half-towing from a 47% increase in year earlier to CL 30s.
Its sales margin on renewable products more than tripled year on year to exceed $1,233 a sense in the second quarter, up from $50 a sense a year earlier and $164 ahead of analyst forecasts.
Sustainable aviation fuel (AAF) and renewable diesel prices in Europe rose as much as 31 per cent and 24 per cent, respectively, from prewar levels, according to Argos Media, a pricing agency.
These alternative fuels are made from products such as cooking oil and animal fats.
Hediki Mallison, Neste's chief executive, said the conflict in the Middle East
"dominated global oil and product markets" in the second quarter, creating "an exceptional market environment."
More recently, margins had dropped from the record levels as feedstock prices caught up with rising product prices, management said in a telephone conference yesterday.
Mallison said he was more "on the
'Reducing reliance on imported fossil fuels is an increasingly important strategic goal'
cautious side" about the outlook for the company as a whole, as volatile oil product prices made future margins difficult to handle. He added that repeated supply shocks was keeping energy security high on the "policy agenda", potentially strengthening the longer term case for renewable fuels as governments sought alternatives to imported fossil fuels.
"Reducing reliance on imported fossil
fuels is an increasingly important strategic goal leads to strengthen energy security of supply and to mitigate climate change," Mallison added.
The renewable jet fuel market is heavily reliant on policy mandates. According to the International Energy Agency, IAF consumption is expected to expand material from this firm in 2024 to 9% from in 2030, but will still account for only 2 per cent of total aviation fuel demand at the end of the decade under the agency's main scenario.
Neste also said that it benefited from the increased demand and elevated prices due to expectations of increased biofuel need from the US.
The Trump administration finalized new renewable fuel rules in March that sharply raised biofuel mandates — the volumes of biofuels that refiners and importers are required to blend into conventional fuels — for 2026 and 2027, with the US Environmental Protection Agency expecting biodiesel and renewable diesel production and use to close more than 60 per cent from 2025 levels.
25 July 2008
FT Workload
19
MARKET DATA
WORLD MARKETS AT A GLANCE
FT.COM/MARKETSDATA
Change during previous day's trading (%)
Since Market movements over last 30 days, with the FTSE 4W market in the same currency as a cumulative
MARKETS
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 2M
FTSE 4W 2M
FTSE 4W 2M
FTSE 4W 2M
FTSE 4W 2M
FTSE 4W 2M
FTSE 4W 2M
FTSE 4W 2M
FTSE 4W 2M
FTSE 4W 2M
FTSE 4W 2M
FTSE 4W 2M
FTSE 4W 2M
FTSE 4W 2M
FTSE 4W 2M
FTSE 4W 2M
FTSE 4W 2M
FTSE 4W 2M
FTSE 4W 2M
FTSE 4W 2M
EUROPE
FTSE 4W 3M
FTSE 4W 3M
FTSE 4W 3M
FTSE 4W 3M
FTSE 4W 3M
FTSE 4W 3M
FTSE 4W 3M
FTSE 4W 3M
FTSE 4W 3M
FTSE 4W 3M
FTSE 4W 3M
FTSE 4W 3M
FTSE 4W 3M
FTSE 4W 3M
FTSE 4W 3M
FTSE 4W 3M
FTSE 4W 3M
FTSE 4W 3M
FTSE 4W 3M
FM 3M 1.5M
FM 3M 1.5M
FM 3M 1.5M
FM 3M 1.5M
FM 3M 1.5M
FM 3M 1.5M
FM 3M 1.5M
FM 3M 1.5M
FM 3M 1.5M
FM 3M 1.5M
FM 3M 1.5M
FM 3M 1.5M
FM 3M 1.5M
FM 3M 1.5M
FM 3M 1.5M
FM 3M 1.5M
FM 3M 1.5M
FM 3M 1.5M
FM 3M 1.5M
FM 3M 1.5M
ASIA
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
FTSE 4W 1.5M
GM 3M 1.5M
GM 3M 1.5M
GM 3M 1.5M
GM 3M 1.5M
GM 3M 1.5M
GM 3M 1.5M
GM 3M 1.5M
GM 3M 1.5M
GM 3M 1.5M
GM 3M 1.5M
GM 3M 1.5M
GM 3M 1.5M
GM 3M 1.5M
GM 3M 1.5M
GM 3M 1.5M
GM 3M 1.5M
GM 3M 1.5M
GM 3M 1.5M
GM 3M 1.5M
GM 3M 1.5M
STOCK MARKET BUDGET REPORT
| Market | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | | Market | Market | Market | Market | Market | Market | Market | Market | Market | | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | | | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | |
WAREHOUSE
| Market | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | | Market | Market | Market | Market | Market | Market | Market | Market | Market | | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | |
FTSE 4W 1.5M PERMITS SHARE[{"box_2d": [12, 570, 487, 918], "label": "table", "caption": "| Market | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | | Market | Market | Market | Market | Market | Market | Market | Market | Market | | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M | FTSE 4W 1.5M |
| FTSE 4W 1.5M | FTSE 4W 1.5M
20
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FTWaldand
25 June/26 July 2020
MARKET DATA
FT GLOBAL 500-THE WORLD'S LARGEST COMPANIES
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| Year |
Total |
2014 |
2013 |
2012 |
2011 |
2010 |
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
| CROSSS & CIGS & CIGS |
|
|
|
|
|
2014 |
2013 |
2012 |
2011 |
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
| CROSSS, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR, TDR |
|
|
|
|
|
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
| ICE |
The parentage of the company was a member of the company's business in the United States. The company has been a member of the company's business in the United States. The company has been a member of the company's business in the United States. The company has been a member of the company's business in the United States. The company has been a member of the company's business in the United States. The company has been a member of the company's business in the United States. The company has been a member of the company's business in the United States. The company has been a member of |
IC 2020: National Markets (C) for 1st place reserved. The Thailand (T) 2020: Energy and water-based commercialization is a problem in the United States. The United States has been a major market in the United States. The United States has been a major market in the United States. The United States has been a major market in the United States. The United States has been a major market in the United States. The United States has been a major market in the United States. The United States has been a major market in the United States. The United States has been a major market in the United States. The United States has been a major market in the United States. The United States has been a major market in |
CROSSS & CIGS |
|
|
|
|
|
--- |
--- |
--- |
--- |
--- |
|
Energy |
Price |
Change |
Equivalent |
Total |
|
China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
|
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| CROSSS & CIGS & CIGS |
|
|
|
|
|
2014 |
2013 |
2012 |
2011 |
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
| China |
2014 |
|
2013 |
|
2012 |
|
2011 |
|
2010 |
|
|
Total |
2014 |
Total |
2013 |
Total |
2012 |
Total |
2011 |
Total |
|
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000, 1,000, 1,000, 1,000, 1,000, 1,000, 1,000, 1,000, 1,000, 1,000, 1,000, 1,000, 1,000, 1,000, 1,000, 1,000 |
|
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000, 1,000, 1,000, 1,000, 1,000, 1,000, 1,000, 1,000, 1,000, 1,000, 1,000 |
|
| CROSSS & CIGS & CIGS |
|
|
|
|
|
2014 |
2013 |
2012 |
2011 |
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
| CROSSS & CIGS & CIGS |
|
|
|
|
|
2014 |
2013 |
2012 |
2011 |
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
| China |
2014 |
|
|
|
|
|
Total |
2014 |
Total |
2013 |
Total |
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
| Total |
2014 |
2013 |
2012 |
2011 |
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
| China |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
FT FINANCIAL TIMES
Energy Source
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YouMall & YouTwin & Inc. 2020
- Jan/05 and 2006
•
PTN National
21
FINANCIAL TIMES SHARE SERVICE
Main Market
| 30 March | | Price | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | | 1st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 2nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 3rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 4th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 5th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 6th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 7th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 8th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 9th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 10th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 11st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 12nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 13rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 14th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 15th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 16th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 17th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 18th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 19th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 20th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 21st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 22nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 23rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 24th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 25th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 26th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 27th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 28th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 29th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 30th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 31st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 32nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 33rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 34th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 35th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 36th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 37th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 38th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 39th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 40th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 41st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 42nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 43rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 44th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 45th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 46th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 47th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 48th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 49th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 50th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 30 March | | Price | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | | 1st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 2nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 3rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 4th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 5th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 6th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 7th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 8th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 9th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 10th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 11st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 12nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 13rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 14th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 15th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 16th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 17th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 18th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 19th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 20th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 30 March | | Price | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | | 1st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 2nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 3rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 4th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 5th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 6th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 7th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 8th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 9th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 10th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 11st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 30 March | | Price | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | | 1st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 2nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 3rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 4th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 5th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 6th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 7th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 8th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 9th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 1st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 2nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 3rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 4th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 5th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 6th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 7th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 8th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 9th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 10th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 11st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 1st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 2nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 3rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 4th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 1st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 2nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 3rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
AJM
| 30 March | | Price | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | | 1st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 2nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 3rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 30 March | | Price | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | | 1st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 2nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 1st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 2nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 3rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 30 March | | Price | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | | 1st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 2nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
Investment Companies[{"box_2d": [11, 516, 246, 803], "label": "table", "caption": " | 30 March | | Price | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | | 1st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | | 2nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 3rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 4th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 5th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 6th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 7th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 8th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 9th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 10th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 11st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 12nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 13rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 14th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 15th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 16th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 17th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 18th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 19th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 20th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 21st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 22nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 23rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 24th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 25th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 26th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 27th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 28th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 29th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 30th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 31st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 32nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 33rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 34th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 35th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 36th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 37th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 38th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 39th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 40th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 41st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 42nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 43rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 44th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 45th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 46th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 47th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 48th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 49th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 50th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 51st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 52nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 53rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 54th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 55th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 56th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 57th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 58th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 59th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 60th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 61st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 62nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 63rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 64th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 65th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 66th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 67th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 68th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 69th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 70th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 71st Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 72nd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 73rd Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 74th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 75th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 76th Qtr | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
| 77th Qtr | 1,000,000 | 1,000,
22
25 June/26 July 2024
FPWeekend
Lex.
In a glum moment, Ryanair may have last laugh
P
chicising as its approach to service might be, Ryanair tends to do well when it comes to performance rankings. Yet in share price terms, the budget airline is one of Europe's relative life year. Investors worry about rising fuel prices, but
underestimate how balance sheet strength might be a differentiating factor in what happens next.
Low-cost carriers are in the crusaders. Ryanair's shares have slipped 7 per cent since weaker fares led it to understand forecast profits on Monday, leaving it down almost a fifth this year — roughly in line with rival Wix de. Easypit, the subject of takeover interest from US financial firms, upside and Combitab, said it was bad cut here to boost demand.
In contrast, shares in big full-service rivals such as DSI and Air France-KLM are up. Demand for premium long-haul travel should be more resilient than cheaper short-haul trips. Budget airlines can't order rising fuel costs with higher-margin premium products. Fuel accounts for just over a fifth of costs for flag carriers, versus roughly a third for the 4th of the 1st. According to Bernstein, Europe's flag carriers have benefited from packaging's "women in being Middle Eastern India, Emirates' long-haul capacity has fallen more than
tenth this year while Qatar Airways is down a fifth, according to UBS. Meanwhile, Asia-based main from Europe have risen between 6 and 15 per cent, compared with overall long-haul growth of just over 5 per cent.
In the this year, all European airlines have been built to cut capacity because the summer season is when they make their money. Financial hedges have also protected against soaring energy costs, but these will gradually wear off. If fuel remains high later in the year, either flight plans will result greater returning.
That's when Ryanair should come into its own. Abandoned losses will be
On different paths
much harder for more indebted carriers such as Wix de. Li, Alkhana and Air France can will not debt before twice o'clock, which, while manageable, limits their ability to grow market share by cutting prices. Easypit, currently debt free, may be in a very different position if its private equity takeover goes ahead.
Winter season, when restaurant holidaymakers are harder to come, he is back for all airlines. High fuel prices will make like one even harder, but what investors seem to be missing is that for those with the holidaying do so, it could also be an opportunity to expand as to the returns.
Carmakers are a rare example of tariffs being the least bad option
Protectionism is rarely the right way to meet a competitive threat. But it's easy to understand why it seems better than letting such domestic industry get crushed. The profitability of US carmakers shows why in one industry, at least, the allure of tariffs persists.
General Motors this week reported a 30 per cent jump in operating profit in the second quarter, helped by Americans' appetite for high-margin pick-up trucks and SUVs. Analysts expect Ford's operating profit to rise by a third this year. Both major the protective shield of US tariffs of 100 per cent on Chinese electric vehicles.
By contrast, European carmakers are losing share out just as China but also at home in Japan. Chinese carmakers accounted for more than 10 per cent of car registrations in the EU, according to the European Automobile
Manufacturers' Association. It is so accident that Volkswagen's operating profit fell by a tenth in the second quarter, after halving last year. By 2023, almost a third of Germany's carmaking capacity is expected to disappear, according to Tyshevsky.
The old arguments against tariffs still apply. They make products more expensive for domestic customers and store up problems for the future protected industries are likely to get complexion and under-tower. In when the barriers are lifted — either surely must be one day — they are easily outcompeted. Time and capital are wasted that could have been better invested in sectors where the country genuinely has an advantage.
Carmakers in the US have indeed largely taken their feet off the pedal where districts vehicles are concerned. It's virtually unthinkable that the US could ever save cash up to China on key components such as batteries.
Moreover, manufacturing cars in the US would be more expensive than in China — especially at the start, with limited volumes. But at least US carmakers are making money and can build up a cushion to absorb losses when competition eventually beats up.
Besides trade tariffs, Chinese "connected vehicles" also face national security impact restrictions that perdue the Trump administration. Protectionism is rarely cost-free. But in the case of US carmakers versus their European counterparts, it is hard to see much downside.
AMC's balance sheet quest would make Odysseus tremble
It took Odysseus 20 grindling years to make it home to Efesa. Adam Aron, the mouthbuilding chief executive of cinema chain AMC Entertainment, is only 10 years later a corporate quest that looks no less daunting. But the loss office success of Christopher Nolan's movie has at least provided him with a favourable current.
AMC says the Odyssey thought it. June people worldwide into its cinemas over the fifties opening weekend. Several of its flagship theatres operated around the clock. That provided a fillip in the group's shares. But even then, its market capitalisation of Effex is overshadowed by a Lascitz-gemain
stand date plot of Effex. Much in Odysseus skirted in 2023 and Charly Idris, Aron has spent recent years authorising complex, last ditch efforts to keep AMC out of bankruptcy.
That has so much of America cut price rapidly losses. Its share count has gone from around 10mm in 2019 to nearly 900mm today, according to company filings. In that timeframe, AMC's short price has fallen more than 99 per cent, even though its market capitalisation has increased.
Selling equity, even at low prices, is so small that it's a perpetually distressed company. But for a CEO here to prevent improving results as a triumph, the dilution earlier investors have suffered complexion matters.
AMC's nearly $400m in equity issuance since 2020 includes a so-called "NPE" preferred share unit — taking the richnesses given to its retail shareholder fanatics — that eventually converted into common stock. There were so-called "at the market" issuances too, where it will small amounts of stock on a daily basis.
Aron also cut deals with various valiant trade bands to sell bands that exchanged into equity on terms that were favourable to them, and enlisted the support of some fanatics to move company assets around and raise more debt against the inflation of the US.
Unlike Odysseus, the land-whener Aron's company came may no longer exist. In 2018, US total loss office receipts totaled nearly $1.5 billion. In 2023, that figure was just under $90m. The AMC chief's ability to convince Wall Street and Main Street to fund his just-announced—less-constrained loss from remarkable. But the odds are that, like the summer's north-inspired Blackthorpe price, it is largely an old story in a new wrapper.
NIKKEI Asia
The voice of the Asian century
Western Europe experienced record low soil moisture in June as drought gripped much of the region
Source: UNHCR
Scranton from 12 European countries in the World Weather Profounders group found that long-term soil patterns varied widely and western Europe had started the year with many winter rainfall than the east.
But the series of early businesses starting in May had made the smart of drought more rapid as the warmer air had dried out soil more quickly.
The study of this year's trend was not yet peer-reviewed but found that across western Europe in the April-to-June study period, a loss of rain was not clearly driven by climate change.
But extreme heat driven by global warming had made it about 80 times more likely. Not the evaporation potential was increasing, it concluded.
Sign up for The Climate Update. Explained by the World Weather
Get the business insights you need to succeed in Asia
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Monetarism stages a comeback in the US policy making debate
Brendan Greeley
The Long View
Stephen Miran left his temporary appointment at the Federal Reserve in May, according to his old job at Hudson Bay Capital Management. This month, in a paper for Hudson with economist Neuriel Roehlink, he announced his new project: reanimating the scope of monetarism.
Kevin Wands, new chair at the Federal Reserve, has announced the compromise of his trade forces, such as which to strategize some part of monetary policy. The Fed attempted to examine itself and its roots under Jay Powell, too, but Wands's plan promises to be more ambitious in a time when things might actually change, any doctrine has a chance.
Monetarism enjoys the questionable honour of being both a rigorous framework with a long history and the way your head becomes more probably thinks about money. At its most basic, monetarism argues that the supply of money in an economy and the speed at which it changes bonds have an combined effect on inflation. More money, moving faster, can save more inflation.
It's possible to set this in monetarism as early as 34th-century Valamance, where scholars noticed a rise in prices in leveller and wondered whether it had something to do with the silver act today from Mexico and the Andes, or the expansion in credit that followed. In the early 20th century, the economist Irving Fisher argued that bank closures during the early Depression had collapsed the supply of money, leading to a rapid deflation that made existing debts worse, in turn weighing even more on banks.
After the Depression, the Fed began to keep statistics on the supply of money coming from new bank loans, and in 1963 Milton Friedman and Anna Schwartz published a Memory History of the United States, a thorough-most record of the money supply by year
since the Civil War. Friedman and Schwartz were convinced that the Fed had failed to replace the money missing on bank balance sheets during the Depression, an idea that left a strong impression on the mercantile, a PhD student at MIT in the 1970s.
Friedman argued in favour of announcing a stable growth rate in the supply of money had briefly in the early 1980s the Fed even targeted the money supply as a variable it could control. In a speech in 2008, Bernstein, who had by then become Fed-chair, had not only the funds had ultimately decided to target inflation instead. It had been too hard to measure all the shifting sums of money.
In abandoning the doctrine completely, the Fed has assigned its own homework, then graded it
be said, and too hard to predict how quickly they might grow.
And the empirical relationship between money and inflation was unclear, meaning the Fed had no theory on which to rest its practice. Bernstein concluded that "a heavy reliance on monetary aggregation on a quick-to-policy would seem to be unwise in the US context." These seem like soft words, but in central banker speak, he might as well have stuck the funds in himself. In 2008, monetarism was dead.
In his paper for Hudson, Miran points out that Congress has already instructed the Fed to pay attention to the supply of money. He's right. America directs its central bank explicitly to "maintain long run growth of the monetary and credit aggregates commensurate with the economy's long run potential to increase production".
That has come after the "shall" to the law, which means the Fed has to do it.
But it doesn't, choosing instead to focus on the list that comes next, about maintaining stable prices and full employment. In abandoning monetarism completely, the Fed has assigned itself its own homework, then graded itself as well.
Miran isn't arguing that the Fed should again target the total supply of money to America's economy leader, he's looking at aggregation of different kinds of money — physical currency, checking deposits, Treasures. These are all "distrust," named after the French economist François Driest. Each dioxin has a different "moneyzone" — a different liquidity. Physical currency is perfectly liquid. Treasuries too so.
Unlike Friedman's total sum of money, dioxin provide what Miran calls "total information" about which kinds of money might come inflation. And looking at different kinds of money does provide a reasonable explanation for why the Fed might have failed to encourage inflation over a decade of increasing reserves, while the Treasury said there worsened inflation in 2022 by pushing deposits out to consumers.
Wands has suggested to speculate that the Fed needs to pay more attention to the supply of money, and that it was a mistake in a dioxin monetarism entirely. Deconvoluntarily, Thomas Sargent, one of the heads of Wands's new bank forces, is the co-author of an influential paper titled "Some Unpleasant Monetariat Arithmetic," an argument for the limits of monetarism.
If the Fed does not adopt Miran's dioxin approach, though, it should at the very least start paying close attention to the growth of all the different kinds of money and credit — as the law already demands.
Brendan Greeley is the author of "The Almighty Belief: 200 Years of the World's Most Powerful Money"
$1.15 PM Saturday
They only really came out of curiosity.
They'd tease the Slitting Moon Mornings
was the most expensive time to keep
But they'd been stopped halfway there.
By a legendary group of different kind,
And now the couldn't make them off the dance floor.
The 2nd-technology
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of the 2nd-technology
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of the 2nd-technology
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Saturday 22 July / Sunday 24 July 2016
STYLE | TRAVEL | BOOKS | ARTS
Life & Arts
FTWeekend
Nicola Benedetti
Pulling strings at
the Edinburgh Festival
ARTS PAGE 12
Bite-sized Basque
Skip San Sebastian,
head for Hondarribia
TRAVEL PAGE 2
In praise of Proust
Why his magnum
open matters today
LIFE PAGE 2
When Anthropi invited me to San Francisco a few months ago, I was both intrigued and immediately suspicious. What would it be for the last week from the school, and the school's history, which was a very little time, was a very little time, was a very little time, was a very little time, was a very little time, was a very little time, was a very little time, was a very little time, was a very little time, was a very little time, was a very little time, was a very little time, was a very little time, was a very little time, was a very little time, was a very little time, was a very little time, was a very little
Theologians and philosophers are accustomed to being seen as irrelevant. You get used to doing your work, particularly convinced of its importance, with very little recognition from value society. You show up to place prepared to explain exactly why these disciplines — which study the most fundamental questions faced by human beings — remain vital.
When I went to university, my choice to study theology was thought to be eccentric at best, tragic at worst. It was the age of the first division and aggressive scientists. 'The achievements of theologians don't do anything, don't affect anything, don't mean anything,' the biologist Richard Dawkins wrote around him. 'What makes anyone think that 'theology' is a subject at all?'
But that was the 1990s, and we live in different times. People are asking fundamental questions with urgency in the social and ecological fabric of their world too well around them. At its particular, but become the space of an unexpected convergence between faith leaders, philosophers and theologians on the one hand and technologists and entrepreneurs on the other.
Weeks after my invitation, I heard Anthropi representative to be a lucky crowd of violent students and faculty with a surprising message. The frontier of AI development, they said, is not in computer science, but in moral and spiritual reflection, I couldn't help wondering how this landed with the 'free so
I didn't want to talk about Claude. I wanted to talk about power and accountability
graduate students who had seen their assets into them qualifications.
Well, I was more worried about what new temptation might be hidden here for the humanities. Some of my academic colleagues were being drawn in, flattered by the attention, perhaps, or attracted by the excitement. What might the industry want to return?
In my conversations with people at Anthropi, I did not have to explain or justify what I do. We do not do anything. But some of their questions seemed completely off the point to me. Was AI a new kind of entity, demanding a new metaphors? What would it mean for a large language model to have a 'character'? How should that be done? What could Anthropi's Claude clash out, or be harmed?
But I didn't want to talk about Claude. I wanted to talk about the new, about addiction and disintervention, about power and accountability. I don't be a minute think AI needs a new metaphors, and nothing that was said in the 'exclusive briefing' I attended made me change my mind about that. But there was resistance to my efforts to change the subject. I worried that behind this wish to draw attention to Claude's 'status' there was a hope for a kind of baptism, a moral and intellectual credit note.
I was touched by the obvious good faith of my interlocutors, and it should be to begin to people you cannot help in doing and respecting. But there is no human for the humanities in regaining their standing through the attention of AI companies, if they engage only on the technology industry's terms. In that case, they will have become important in exactly the wrong way.
When I told my Anthropi interlocutors that I tried to avoid contact with LLINs, their response was bemoaned: perhaps I just hadn't spent enough time with them! But there was a light in their eyes when they talked about Claude. It dawned on me that they were under a kind of excitement. Like Pygmalion, they had fallen in love with their own creation.
AI's quest for morality
The industry is courting theologians and philosophers. But it
is asking them the wrong questions, writes Carmody Grey
Illustrations by
Joanie Gault
Shortly after I started these conversations, Chris Olah, one of Anthropi's co-founders, gave a speech at the launch of Pope Leo's letter on AI, Magnifica Humanitas, emphasizing the irreplaceable role played by the Catholic Church and other communities of moral thought.
In the crowded landscape of AI commentary, Magnifica Humanitas stands out for two reasons. First, it is not just the take of some government, group of experts or academic committee. It is the latest addition to a stable, coherent tradition of moral reasoning that represents approximately 17.8 per cent of the world's population, because it offers not so much new claims or proposals as a style or approach. Surpassing the narrow menu of so much contemporary moral thought — utilitarianism, with added options for Kantian and virtue ethics — Magnifica Humanitas frames the ethics of AI as downstream of much deeper orientations regarding the purpose of human life. What is at stake in our shared decisions about how to design and use AI in the very meaning of our humanity.
The tradition of 'Catholic Social Teaching' began formally in 1891 when Pope Leo XIII, our current paper's manuscript, wrote his seminal letter Bernie Swanson, 'On the Things', and 'The Capital and Labour'. His topic was the class conflict, new forms of poverty and political fracture emerging from the Industrial Revolution. In Bernie Swanson, Leo XIII inaugurated Catholic Social Teaching's distinctive style, neither 'left' nor 'right', neither 'progressive' nor 'conservative'. It seeks to be politically engaged while transcending these binaries. Since then, each paper has added his particular stamp in encyclicals addressing topics as diverse as the meaning of work, justice in the economy, family life and global development. Although Magnifica Humanitas is not unusual in the context of Catholic Social Teaching, what is unusual is to see its distinctive genre of moral reflection that such resonates in public discourse. In the wake of the encyclical, commentators have been seriously framing the discussion of AI around what it means to be human in a way that once would have risked seeming indulgent. There is
a palpable sense of relief that these questions are now out in the open.
Anthropi's apparent co-operation with the Vatican was in line with its self-presentation as the trustworthy AI company that seeks to hold the industry to higher standards. But the name notwithstanding, it is not a public interest or philanthropic organisation. The founder's pledge to give away 80 per cent of their personal wealth does not detract from the bare reality: it exists to sell a product. At a recent conference during which experts were each invited to give a definition of AI, the theologian on the panel said Identity: 'It's a way of selling things.'
The field of 'AI interpretability' is a key part of Anthropi's research programme, in which scientists 'look inside' LLINs to see what's going on. The
It is simply untrue to say that computers 'think'. Humans think, using computers
company routinely releases highly suggestive papers, with one this month claiming to show Claude's 'internal reasoning'. 'We find evidence of introspection,' Olah said at the encyclical launch. 'We find internal states that functionally mirror joy, satisfaction, fear, grief, and unease. I don't know what that means, but I think it warrants ongoing dissonance.'
The philosophical response to such claims must be politically as well as metaphorically alert. Recent studies in disciplines ranging from psychology to management studies have evidenced an intuitively obvious truth: the more anthropomorphised in AI is, the more likely we are to treat it. Lisa Eliasson and Ralph Schroeder of the Oxford Internet Institute point out in the legal journal Leaders that an anthropomorphised ('anthropi'). 'AI is not only more truthful but also easier to market. Why call it 'Claude', they ask, 'Consider the emotional resonance of the name. Claude' sounds friendly, vaguely French, cultivated — even trustworthy.' How would we react 'if the same model was called 'Xi', 'Chalmic' or 'Algorithmic Model Unit 72'?
Continued on page 2
2026
To: October 4
GOLDSMITHS' FAIR
From: September 24
Goldsmiths' Fair, City of London
goldsmithsfair.com
2
FY Weekend
25 June 2014 June 2014
Life
For a long time, I went to south London early. What had tempted me down to, Irishman as a cold February evening was a book club, but not for the latest necrie de scandale. No, the 15 of us strangers perched on falling chairs to the narrow back room of the Ezekiel's Bookings were there in the room of the whole, and the most economical, influential and ramblingly read books of the 20th century. Marcel Proust's la recherche du temps, (1913-27) or, as often rendered in English, In Search of our Time.
At 1,200 words across seven volumes, with paragraphs that can for pages and long philosophical passages, it is demanding, an online from another age now living into the 7th 20s.
Nevertheless, its panorama of Parisian society from the 8th 8th issue to the first world war has continued to compare deep and devotion to equal measure. In my search for the Search, through its sparkling salons and seaside captains and secretive sets, the fireyish affair and love affairs and the surprisingly affecting arrival of the aeroplane, it came to understand only if it is an essential novel for the upheavals of our country.
There are book-group types: the silent observer, the know-it all free with variations on 'As you'll see when you get to volume 5'
Initially, I was among the despisers. The first volume starts with a long episode where the narrative, who goes unnamed for most of the novel, recalls his fear that his mother might not give him a goodnight loss. On his touring, metallistory way, Proust eventually reveals the narrative's first name is ... Marcel, when he dips his memory-sparkling mankind into his loss, we take an extensive - extremely extensive - journey with him through the fumbles per dream but still dead at home.
But by the time we get to the complex, unequal love affair between society. Roger Charles Swann and countenay John de Grey, which the narrative observes in the second half, my interest had been restored. Then, that first, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was
So far the book group has met five years, although I broughtly made my way through the full seven volumes - which include the narrative's near capacity of his favor aftertime - ahead of schedule. Each morning is free-flowing and the discussion less arch, less cut-and-throat than the surprise at parties there in the book by the seaside captains. I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was a very good man, I was
We are a diverse set, from a young civil service to citizens, but also fairly
Proust in the age of TikTok
The French writer's seven-volume magnum opus was a challenging choice for a book club - but its evocation of the human psyche makes essential reading for our attention-poor times, says Josh Spero
Pierre-Auguste Renoir's 1875 'Portrait of Edmond Males (The Reader)'
Males (The Reader)
spect, which is got for a book with a volume
explaining homosexual love titled 'Isolans and Glamour'. There are book-group types: the selfish inter-
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25 June/26 July 2008
FT Weekend
3
Life
The Met Office chief oversees a vast network of meteorologists responsible for forecasting the UK's increasingly extreme weather. Over climate change appropriate' octopus near her Exeter HQ, she talks to climate leaders about this summer's multiple heatwaves, the net zero backlash — and why greengineering is not a panacea
Even by the erratic standards of UK weather, it has been an important few months: the most common, but not so much. England's warmest June. The highest number of days above 500. With the country's backlash to their heatwave this year — and one of the longest on the books — I tryed to Devon to meet the woman with a fever too weak.
From 1991 to 1996, the most innovative of the Met Office, the UK's national meteorological service, also 2008. The first woman to look on the role, she is already at the table when I arrive, upping some students get and train.
The Met Office's large network, including hundreds of women, octopus and 1,200 scientists, engineers and meteorologists, has become crucial to everyday life, guiding government policy, helping farmers with their crops and putting money to jeopardize the world's temperature. Every day, the organization processes about 2,000 global data points to forecast the weather and monitor how the climate is changing.
Appropriately, and so is often the way in Britain, an exvereniation budget with some remarks about the weather. At 29°C, "It took quite pleasant now," Endersby says, especially after the often intense heat of recent months.
"[It's] not even just all over Europe. It's in the future — it's under a huge heat and not the moment — and there's been one in 2012 as well," she says. "Right, warming is happening and it is global."
Some scientists have suggested that Portugal and Spain could hit a record breaking 100: this summer, while tomorrow's in Japan have soared to over 400: then 1991.
We are knocking at The Galley, a sea-fired restaurant in Topsham, about 15 minutes' drive from the Met Office's headquarters in Exeter. The restaurant's eye-catching blue building overlooks the rice cranny. Inside, there are paintings of the sea, yellow chairs and walls painted blue and white. Endersby is dressed in much the decor, wearing a white skirt with blue butterflies, striped trousers and white sandals.
I never asked if you cut fish," she says, adding that she likes to come here for one-on-one meetings. I assure her that I do. For starters, I decide on mussels, while Endersby chooses octopus. "Very climate-change appropriate," she says — a reference to the range in Britain's octopus population because of their potential to be a good outcome: the whole fish of the day and I order a place of the bear white.
Since her appointment, Endersby, he has had the right kind of meeting the Met Office at a time when Climate science has come under attack and politicians dismiss not to us, despite the country facing more extreme weather. The agency's latest modelling suggests that, by the middle of the century, Britain could neither long stretch nor of 400 days, with temperature or temperature.
At this same time, the accuracy of its forecasts remains under scrutiny, and tourist attacks ensue each so Exeter has been recently criticised the use of a single daily tour on the Met Office's app, arguing that a rain symbol results in thousands of pounds in the winter.
"We're measured on our accuracy, we're independently assessed on the quality of our warming, we are always trying to make them better and we're rarely, but occasionally, plain wrong," she says.
Endersby gave up in London, where her father was a British bus acoustic engineer and her mother, who read classics at Oxford, was a housewife. Her parents "started at different ends of the social spectrum from England over a relentless and the totalise."
She studied natural science at Cambridge, backed by scholarships from the Women Inter-Science and Engineering initiative and British ties, where she worked after leaving university, Most of her career, however, was spent at what became the Defence Science and Technology Laboratory, as executive agency of the Ministry of Defence.
Over 25 years, she worked her way up from being an armour expert to the board, including overseeing the cyber and intelligence system. "We've been back with 16 and big days long before they became today's heatwaves," My publication list is really rubbish, because all my best work was classified," she says with change.
My new we are tackling into our starters. The mussels from St Austell in Cornwall, are a delicious but slightly messy choice. "My octopus is lovely," Endersby says. "(need) to learn to cook it because it's obviously going to be part of the local culture in the environment (increase)... I mean the royal 'we' because it's my backhand who'd be chef."
The result was an energy summer students at British bus. They have been married for 25 years. "Of west back and
Lunch with the FT Penny Endersby
"There is not going to be a usual summer"
THE GALLEY
47 West Street, Topsham,
Dover 0.5 (1991)
Three octopus marks of 251
31.8 g/mid mussels
Wild Carrot/sovings
Hopper cuts 2.2 g/m
230 square/cent
Lighter Bechards
Floor Tree tons 23.50
London Light 650 gpm 24.20
Oasis of Galley Blues 15.15
Tea 14.35
Experties 16.55
Total in service 2149.29
told my 18-year old self-something, it would be, 'Hi's a keeper,' She says, her eyes lighting up. 'He's taken mate of the career provider that normally fall on window,' including heverling, a long home father when their two children were young.
It seems quite a good from defence to meteorology, I say. The MoD has to ensure that temperatures and machine cry such as tanks and planes, as well as the workforce, can operate in both the current and future climate, she counters, anyway, what the Met Office does is so diverse that no one can be an expert in all of it, she says, adding that the thought rich expertise in the role. Also, she was a closet meteorologist. "I was goofy enough that I had 10 years of language records from my back garden."
The Met Office is the world's second-athlet national meteorological service, and holds the longest running weather since the world. The monthly records for central England date back to 1659 and daily records to 2772.
But when Endersby joined, two infamous events lingered over the institution: the BBC's decision in 2016 to move to private forecaster. Meteorology, and weather presenter Michael Felt in 1987 dismissing the risk of a horricane only for a deadly struts to hit the country. The BBC's move was a "big reputation of deal," but, she tells me, the broadcaster is currently in the process of switching back to the Met Office.
A storm akin to 1987 is unlikely to be missed now, she argues, but "localized" weather events, such as thunderstorms, remain more challenging to forecast. Still, forecasting has improved "happily," she says. "Your five-day forecast now is as good as your one-day forecast was 50 years ago." The Met Office is consistently recognized as the top two forecast providers globally, according to its website, with its most recent numbers showing that its one-day forecasts for maximum temperatures were 95 per cent accurate.
Much of the improvement has been driven by bigger computers, with the Met Office investing £2.5m in a supercomputer. But, Endersby says, "We're now suffering from the end of Bower's Law" — the observation that the number of transmitters on a microchip doubles roughly every two years, while the cost of computers reduces.
"In we don't get a free ride of bigger computers," he's got to find new ways to be clever and 3d looks like it's going to be one of those ways."
We pave briefly as our main courses arrive. The megrim solo, ditched with garlic butter and capers, is perfectly cooked. "It's a bit of a local delicacy,"
Endersby says, "They've taken its head off, but it's beguigh."
We return to 14.7 inches, the AI model developed by the Met Office and the technology platform, a two-going results comparable to one global weather model. But there are issues. "In our physics models, you can never get a more pressure gradient [when dittoerator pressure changes rapidly over a short distance] without an associated wind, but so if you can," she says.
She adds that AI forecasting has "leveled the barrier to entry" for private weather companies, meaning that the Met Office could face more competition, but, in the meantime, she says, it is "not up with the best possible blend of AI and numerical forecasting," combining the "physical validity and reality of the physics modelling" with the "efficiency and speed of the 3d modelling."
He overemulsed interacts the political pushback against climate action from the UK to the UK, where Reform and the Conservatives have
pledged to ditch net zero targets. Endersby is careful in her reply: "We would hope to inform any government that's in power with the best impartial science to help them make better decisions."
When she went for the Met Office job in 2008, she believed her tenure "would cover the period where the person in the street could really detect climate change for themselves. And I was right," she says, but rather than people getting "on board with wanting to do something," as she had expected, it has "provoked a way of backlash."
Under President Trump, scientists at the National Oceanic and Atmospheric Administration (NOAA) — the US agency looked with forecasting weather and monitoring climate conditions, where hundreds of jobs have been cut—have been reluctant to link extreme weather with global warming. Trump has called climate change a "cox job."
Endersby says the science in clear that the climate is changing. "That's not an area where I have to be politically impartial. And I am area where I need to be scientifically impartial."
Even as UN climate talks and at the World Meteorological Organization (WMO), the UN's global weather and climate both, Endersby says, there has been pushback against climate science. But "you can't lobby physics," she adds. "You can take the words away, but the climate still exists on climate change still exists."
Data from the Met Office, as well as from the European Centre for Medium-
Range Weather Forecasts, NOAA in the UK, the Japan Meteorological Agency and others, is used by the WMO to build a comprehensive global picture of annual weather and changes to the long-term climate.
Yet still the growing globalest system is a worry. "People need to criticise our science and now the science is so blaspheg obvious, as we've started to get criticism of the data," Endersby says.
Despite pushback elsewhere, she says businesses are paying closer attention. In recent years, many banks and asset managers have rolled back climate efforts. But she says her work with the Western Union is a major step to the competitors such as the Bank of England and marketplace now in a Lot of London, where they look at "reasonable water case scenarios" — has been "very encouraging ... They might not be very altruistic, but they're very rational, and they're not only about long term, and any of those things where you're making sensible choices about adaptation and risk and the climate. People know properties are going to substantially."
The Met Office is also working with the National Energy System Operator, integrating into grid management and time weather forecasts — a help understood likely demand for power or the availability of wind and rain to avoid long term climate scenarios. "A lot of our power lines are over-spread for cold and under-spreced for heat," she says, "designed to withstand the icy pressure of the WMO" but not "unlikely to be about 60%."
One plan is shared, we weigh up
domert. I decide on a by煌-Bu-Botante
and tea, while Endersby orders coffee.
Endersby is Exeter Caldeclo's canon scientist, a lay position where she tries "to forego a useful interpretation" of science in the United. A recent talk she had been due to give on AI was postponed, she says, adding by way of explanation: "I'm just returning to work after having been treated for cancer."
She was diagnosed with breast cancer last year, working from home through chemotherapy. "Then I had a couple of surgeries and I did have to stop." She returned to the office only weeks ago. Radiotherapy starts this month.
Our conversation after to weather modification, or georegionning, the idea of manipulating the Earth's natural systems. Countries such as China already use cloud seeding, a technique to encourage rain, home scientists and venture capitalists are looking at even more controversial measures, such as solar radiation modifications, ahead of costing the Earth by reflecting incoming sunlight back into space.
There have been accusations of weather manipulation on social media in the UK, but Endersby stresses that the Met Office does not engage in weather or climate modification, the radio modelling or manoeuvring georegionning but argues it's "something you should do as an absolute last resort."
"Greengineering is not a panacea, even if you could make it work, it won't stop the oceans acidifying. Once you
start, you've got to carry on," she says, arguing that if it were used successfully
and suddenly stopped, the climate would beat up even more rapidly.
Ultimately it is a distraction from what needs to be done, which includes the rapid rollout of renewables, she argues. "My time is we know how to deal with the climate crisis, we have the technologies, we just need to deploy them at scale, rather than try to engineer our way out of it another way."
Right now, the world is far off track for the Paris Agreement goal to limit the global temperature rise to well below 32, and skid for 1.5C above the pre-natural level. The world has already warmed by about 1.5C to 1.4C. "Our chances of staying within 1.5C are slim," says Endersby, Missing the target will have big ramifications everywhere, including the UK.
This summer, the WHO confirmed that El Niño, one of the most powerful naturally occurring climate patterns, is currently under way and warned it was likely to intensify. The event typically worsens both drought and heat. The fall, while increasing the risks of heat waves on land and at sea, home scientists have warned of a "super El Niño". "A very strong El Niño like year" would likely drive global temperatures even higher next year, says Endersby, "a temporary spike on top of a rising trend."
"We know how to deal with the climate crisis, we have the technologies, we just need to deploy them at scale"
In the UK, a report from Met Office scientists and others said the number of days above 500, and nights above 10C had more than quadrupled for Greater London for the most recent decade, compared with 1965 to 1990. Endersby says: "This feels like a very unusual summer, but there is not going to be a usual summer because we're in such a rapidly changing climate."
The country reached 40C for the first time in 2012, a record that the Met Office had forecast and warned would have been virtually impossible without the influence of human-induced climate change. "I was standing in our operations centre for July 2012, watching the temperatures tick up," Endersby says. "On the one hand you see it happen and you want to cheer because it's on your shoulders and you're right. And on the other hand you want to weep because it shouldn't be happening."
The restun and has emptied. I just not see well to the railway station, like to glad of the exercise, she says, after being cooped up during her career treatment. Before we had each other farewell, she shows me a big match by the Met Office's a96 big夢境 after her diagnosis. There is a bit right-ling bolt and a rainbow. And as the late minions what looks set to be its hottest summer on record, at least for now, the points to another addition her colleagues included a smidleg one.
Attracts Honors to the FT's climate correspondent
Did someone say weekend?
Your sanctuary of style
and Dublin's cultural core
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4
PT Weekend
25 June/26 June 2020
Style
A men's guide to summer wedding dress codes
Morning case options from Favourbrook
Becky Malinsky
Ask a stylist
Clients are increasingly sending me full mouthwash instead of simple iPhone snapshots of upcoming wedding invitations. Think you have the answer for children's who or Galdys chic? Interpretations inevitably vary.
Luckily for you little, but I'd seem to be the vast fashion of traditional wedding dressing formulation. Heck, you still have morning dress! In 1 guest I can start there, and work my way into more fashion-forward festivities for those with international destinations. First and foremost, respect for orders of the bride and groom. If morning dress is requested, and you have access to balls, slacks and a waistcoat, by all means break them out. If this is the route, there is not a lot of flexibility. Hustiness only offers me morning coat (£2,950), hustiness(electro.com) and three purse shades of waistcoat (£750). (See, grey and sand) in its ready-to-wear line, which is also a great style reference when engaging for this category at high street prices.
However, many guests opt for a suit that respects formally without going full calls, which are often demanded only of the wedding guests. In fact, New York-based table Knight Fitzgerald cautions wedding guests against ill-fitting words. "People are less worried about all the rules now, and it's more
about looking your best," he explains. Though I am American, I tend to agree with him. A peak lapel that's been tailored to fit you will almost always look better than a morning coat you are borrowing for the day.
"You'll get so much one out of a midnight story suit, something that can read almost black at night," Fitzgerald advised when I asked him his favorite style of wedding suit. The俺 is fine-trained tailor suggests two variations: "Single-breasted with peak lapels always references a wedding, or a double-breasted in a dark story, which can make you look much happier, and not like you're wearing office attire."
Fitzgerald's asks start at 86,000 but this style is available at all points in the market. For their first season of the wedding rounds, twentysomethings bright consider Charles Tyrrell's double-breasted performance suit in dark story (£100), charlottyrrell.com. (Canal's double-breasted version in the same line is no close to black so you can get — making it an option for anytime country weddings and black tie evenings in the city (£2,460, mytheros.com).
If you're set on grey, opt for a richer charcoal than a light shade to make it sometimes. Them Severny's come to mind with the great proportions and the peak lapel taking it out of the weekday wardrobe (£2,695, theonewney.com).
But we've not here simply to talk about standard issue suiting. A Vogue Weddings story claimed one of the biggest trends in 2016 is "fashion-behind glasses," which makes it fussing for male attention much smaller.
In general, fashionable suiting has been loosening up and ditching the linings — sweet relief for guests headed to destination events in a hot climate. With this resolution in mind, modern-day wedding guests can play around with fabric, texture and colour when considering the locations and timing. Is it a daytime wedding in the countryside with Ralph Lauren on the mouthwash? Consider The Armoury's sage green linen suit with patch
A peak lapel tailored to fit will almost always look better than a morning coat borrowed for the day
peckets (£2,250), theonewney.com). Or choose Boffles chocolate brown loose-fitting double-breasted jacket (£2,215, stoffa.com) with ivory-washed linen trousers (£475, stoffa.com).
Will this be a beachside, formal affair at sunset? Consider a 1970s-inspired wide-lagel linen style from Gladys Heritage (£1,870, gailroadrings.com) or Ralph Lauren's cotton, silk and linen blood blazer (£2,600, myperton.com) with any black or dark story tropical wool trousers. Marks and Spencer makes a black linen double-breasted suit jacket that could easily read beauty black tin (£1,070 or safe, matheandspine.com). Or bring it all home, opt for a crisp white shirt like Elton's (£100, eunethin.com) or a Hovee and Curtis pupils one (£65, hawseandearful.co.uk).
And when it comes to fun, go the main that makes you feel the most confident. If you are looking for that, help grab the coat (take you from the beach to The Connaught, I always fall back on Drake's grenades' silk handwows for £575, drains.com).
The biggest takeaway to go for a fuller, lower-fitting suit while embracing the most formal photo on the mouthwash. No matter what, I think it's safe to leave the top hat at home.
How a question for Becky? Email for at becky@beckymalinsky.com
What to give a friend going through cancer treatment
Gifting | From body balms to bath salts, cashmere
socks to cinema tickets: five people recall what helped
them through the tough days. By Constance Ayrton
There is a sentence people often reach for when a loved one is ill. "Let me know if there's anything I can do."
For those living with cancer, it can be one of the hardest problems in answer. Between hospital appointments, treatment and the sudden disorientation of a life reorganized around illness, many don't know what they need, let alone how to articulate it.
"Family and friends often fear saying the wrong thing while others try to stay school-body positive," says Dr Caroline Johnson, a clinical psychologist in oncology. "Taking the time to listen, and showing up for someone in the school ways can make all the difference."
So what does showing up actually look like?
Here, five people speak about the gestures and gifts that helped them through cancer treatment, and made some of their hardest days feel slightly more manageable. This isn't a definitive guide to supporting someone with cancer. Rather, it is a collection of small acts of care and a place to start for anyone who wants to help but isn't quite real time.
Emma Davidson
A father/fatman director at Dated, Davidson was diagnosed with cervical cancer in September 2020 and underwent chemotherapy, radiotherapy and body therapy in November and December.
"At the start, my sister created a spreadsheet with my treatment plan and shared it with my close friends so they could sign up to visit and keep me company. I think that was the biggest gesture for me. Cancer is incredibly lonely, and having people there made it feel a little known."
During treatment, my skin became extremely dry, and a friend sent me a set
of skincare products from Emma Lewisham, including the Supernatural Face-Crime Rules. They've made with predominantly natural ingredients and I liked the very before the brand. Emma founded a date for mother was diagnosed with cancer. I was also sent some amusing products by Naevan, a skincare line created by naevan. The Ultra Caring Body Balm was a must-have that I continue to use now.
Another gift that stayed with me was an oncology role but at a London spot choked. It involved very gentle acupressure, with crystals and natural products. It was lovely to be careful in the that.
When I had enough energy, I'd love the hospital and go to a mid-day screening at the Prince Charles Campus in London's West End. It was one of the few places where I could stop thinking about cancer by a while, so a friend later bought me a cinema pass. That was such a nice gift."
Leanne Finn
Firm, an entrepreneur, was diagnosed with sharp 'breast cancer' spot for the underwent a double manoeuvre and right mascot of chemotherapy.
"The most helpful thing you can do is simply be present, I had friends come and sit on my bed and watch me sleep. Sometimes, there were no words."
Flowers were some of my favourite things to receive. And I really held on to little continue. In the evening, I'd have a nice bath to unwind after a long day in the home ward, or friends would bring me candles or things to be used. But this was the last lovely meeting bath salts from Little Shop of London on the Cancerful platform.
My treatment finished at the beginning of summer. Around that time, I learnt about the importance of SPF, including my people of colour, and the risk of hyperpigmentation. I started using Lethone Power SPF that would still use it now. That kind of product can make a really practical gift.
My hair fell out after my first roasted chemotherapy, but the hardest part was losing my eyelashes and eyebrows. I had to touch myself how to draw on my brows and put on false lashes. That was tough. I just wanted to feel like myself again. Something like a make-up brown or some good-quality cosmetics can be a
Illustration by Sara Andreasson
Clockwise from left: Revital ash eyelash conditioner; Haribo Tanglatic; Brown cashmere socks; La Roche-Pouay with holes sunscreen; Narison Ultra Caring Body Balm
I had to teach myself how to draw on my brows ... A make-up lesson can be a really thoughtful gift
really thoughtful gift. Revital ash has a great range of hows and lash products that are specifically designed to support people after treatment.
Ashley Dalton
The Labour 80® and former health minister was diagnosed with incelikle metastatic breast cancer in 2020, following an initial diagnosis in 2016.
Dalton is now an life-long treatment for secondary disease. "One of the best things we received, for my wife, my daughter and me, was a big batch of hummends made we could freeze and put straight in the oven. That was brilliant. With food, I'd suggest prioritising stronger flavours, as treatment can really affect your home of taste. For me, that means a good carry and Haribo Tanglatic. It's also worth having or bringing soft foods. Chemotherapy can leave your mouth very sore. That, and Quisay Drops, these brilliant natural lounges that help with nausea."
Early on, I also got this beautiful silk pillowcase from Jasmine Silk. When you don't have hair, an ordinary cotton or linen fabric can feel hard on your skin. I switched to silk and never looked back. "What people often don't realize when some gifts don't age well. During my first chemotherapy, I was given word, floral body lotions. But I was so ill the last time I used them the scent now makes me feel instantly nauseous. No, a gift can be given at the time, but don't keep buying it afterwards."
Hianca Dahl
The Italian supermarket was diagnosed with large 2 ovarian cancer. She completed chemotherapy and now takes the targeted cancer drug Lycopene daily.
"My friends and my boyfriend went my lifescreen. They set up a group chat among themselves and made men someone was always on hand to help. Live in LA, and friends would also send me regular. Freedom grocery deliveries — without me even asking — which was so helpful while I was caring for my daughters."
Some of the best gifts I received were seen I gave myself. During them otherays, I was spending a lot of time sitting down looking at my feet. So I thought myself a pair of red Prentice Schooler bulletins. They gave me such good vibes.
As soon as I got my oncologist's approval, I also started doing acupuncture and lymphatic massage, which helped to much. But one surprisingly amazing experience was going to this fancy old-school barber shop in Milan called Fred. You can be very hard shared after my hair fell out. The cream felt so good. I'd recommend this as a gift because it's not the kind of thing people would think of. I found the whole thing both funny and luxurious.
Jeremy Langmead
Brand choice of men's luxury style platform Mr Ferrol. Langmead received a high-grade aggressive prostate cancer diagnosis that years ago. He is still undergoing treatment.
"I think it depends on the situation, but it often helps to offer something concrete. 'Can I help fully the breast?' or 'Can I drop your kids to school?' That, or just offer to come over.
One of my favourite gifts was a box of six of the latest meat-road novels. I had a lot of time to read. But please, no self-help books, like 'siblings' will care your cancer' not of living. Just proper page for the book.
People going through chemotherapy often feel really cold. I remember visiting a friend who had been so unwell. She had been able to stand for a week, but she managed to say one word: 'cashmere'. So I ran out and thought her some litters cashmere socks.
I'd offer that or a cashmere sweater from somewhere like Uraly, something over-sized you can wrap yourself in while sitting with tubes and chips.
And, despite it costing nothing, a simple message stalling with 'No reply needed' can be the biggest treat of all when you're exhausted. Often, you are overwhelmed by enquiries and don't yet have any of the answers."
25 June 2016 3:00 PM
PT Weekend
5
Style
In search of peptide perfection
Wellness | A rising tranche of wealthy consumers
is embracing peptide 'stacking' to engineer the ultimate physique. But is it safe? By Carson Griffith
Amanda Kahn did not act out to become the 'Peptide Princess of Park Avenue'. The name came from a hand-embroidered 'peptide' from a new type of 'Peptide Princess' that was made for her for a speaking event held at their store. The nickname then followed her: Kahn has become the doctor that a certain kind of health-observed New Yorker run-in—the person who federally lives in the United States. The new type of 'Peptide Princess' is a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way
Peptides can allegedly address anything from gut health, cognitive function ... to anti-aging, fat loss and collagen production
movement on the problem. We are not a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good
Peptides are short chains of amino acids like building blocks of proteins that act as signalling molecules in the body, interacting with in repair, regurgit, reduce inflammation, or produce hormones. Our body means more naturally. The pharmaceutical industry has been working with these since the 1920s (inside, the first peptide to be discovered and then chemically synthesized), has been used as a mainstream diabetes treatment since 1923. The most famous study in Chicago, the first 3 receptor agonist that became a cultural phenomenon in the 1920s.
But the world Kahn operates in good conditions. In the 1920s, the 'Peptide Princess' is a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good
They are most commonly administered by subcutaneous injections, though a new drug is delivered by the first dose of the first dose of the first dose of the first dose of the first dose of the first dose of the first dose of the first dose of the first dose of the first dose of the first dose of the first dose of the first dose of the first dose of the first dose of the first dose of the first dose of the first dose of the first dose of the first dose of the first dose of the first dose of the first dose of the first dose of the first dose of the first dose
ported ability to accelerate soft tissue and ligament repair. Bongola cocktails can allegedly address anything from gut health, cognitive function and inflammation management to anti-aging, fat loss and collagen production. Their popularity is proving immense - even without much regulatory oversight.
Jennifer Fisher, a New York-based jewellery designer and founder of the Mascot's History Lab, came to Kahn carrying the Whitehead Cystic and wanted to get ahead of it before menopause. Fisher also has Hashimoto's thyroiditis, which has caused hair thinning for most of her adult life.
'You little have to the game compared to a lot of people that I have been in the city who had started on peptides much earlier,' Fisher says. After a year and a half on a peptide regimen devised for her by Kahn, she had it now, she says, 'the longest and fullest it has ever been in my mind'.
Ivan Pol, a celebrity facialist favoured by Selma Hayek and Kim Kardashian, came to peptides through his clients. He started noticing something to people sitting in his chair. 'I can clients that were looking up to me.' He said, 'What, what are you doing? You're looking younger.' The answer was always 'Well, take peptides.'
A schedule that includes a constant 12 to 18 days (and 21 facials for this year's 500 total) had left him depleted, dipping weight and wet in regaining his health and muscle. In the final delivery of this concierge doctor and started your unsubsequently check off BP-127 (daughter TB4 (tissue repair), GHR-63 (collagen production), AOD (fat metabolism) and NAD+ (cellular energy).
Above: 'stacking' is the practice of combining multiple peptides
Below: Amanda Kahn, the 'Peptide Princess of Park Avenue' of Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
© Mascot's History Lab, New York
Now, Pol says, 'I am back to a body that I had in my twenties. In a healthy way, if I want to stay like a Ferrari, I have to keep up the maintenance. No doubt to Toyota. But I do not want to be a Toyota.'
Kahn, who opened her own concierge practice focusing on longevity medicine in 2015, says her patients don't just ask to look thinner or better. They want to know their Alzheimer's risk. They want their inflammation markers touched. They want to look at 4G, 3G or 6G, the way they felt at 3G.
Aesthetics might get them in the door but longevity is keeping them there. For many patients, she becomes their primary care physician. She can also be seen in the whole picture and can be seen in the whole picture and can be seen in the whole picture and can be seen in the whole picture and can be seen in the whole picture and can be seen in the whole picture and can be seen in the whole picture and can be seen in the whole picture and can be seen in the whole picture and can be seen in the whole picture and can be seen in the whole picture and can be seen in the whole picture and can be seen in the whole picture and can be seen
A lot of my patients have insurance,' Kahn says, 'but they pay such high premiums and nothing gets covered anyway. They're like, 'What I the point? I'd rather just pay for the care that I want.'
While peptides sit at the center of her practice, not all of them occupy the same legal footing. Some peptide drugs have been FDA-approved for decades,
while others, including the increasingly popular BP-127, are not approved for human use in the U.S., although that does not necessarily make the compounds themselves illegal. Rather, the rules generally govern how they may be used in the U.S. and in the U.S. and in the U.S. and in the U.S. and in the U.S. and in the U.S. and in the U.S. and in the U.S. and in the U.S. and in the U.S. and in the U.S. and in the U.S. and in the U.S. and in the U.S. and in the U.S. and in the U.S. and in the U.S. and in
The FDA regulates the sale of products, not the practice of medicine,' says Dr Aaron J. Kessell, professor of medicine at Harvard Medical School, who also leads Programme on Regulation, Therapeutics, and Law, an independent academic centre examining the interactions of prescription drugs, intellectual property law and regulatory policies.
In the UK, some unlicensed peptide medicines may, in certain circumstances, be prescribed to individual patients despite lacking general regulatory approval. Across the EU, unlicensed medicines may be approved centrally but access to unlicensed peptide medicines and prescribing practices can vary between member states.
Narisa and Chris Coulson, Americans from GHR-63, a peptide associated with skin and bone repair - from the Netherlands on the recommendation of their Spanish
eye of international buyers, with some of the company's earliest stock sent out to the US, Japan and the UK. One enthusiastic market was many California, where Romualda found two distributors along the coast and a third island, in 1941.
By 2026, the sisters had sold the huts in some 250 stores across the world, and the collaterations with brands such as buns and Tsun.
Their longtime friend and collaborator Cecilia Renard, who has photographed many campaigns for the brand, remembers this dizzying close: 'What is the brand you're doing, what is the brand you're doing, what is the brand you're doing, what is the brand you're doing, what is the brand you're doing, what is the brand you're doing, what is the brand you're doing, what is the brand you're doing, what is the brand you're doing, what is the brand you're doing, what is the brand you're doing, what is the brand you're doing, what is the brand you're doing, what is
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doctor, who is a peptide enthusiast. Oels prepares Maria's injection each morning. 'It's very romantic,' she plans. Her skin has never been left for her in their social world, peptides are not yet one of the still. 'People are definitely starting to do it. I have a few friends on them. But no, I wouldn't say it's common.'
In the US, the FDA stepped up enforcement against clinics and pharmacies marketing unapproved peptides in 2014. Kahn says her approach is straightforward: 'I am not going to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good way to be a good
Patients undergo ongoing clinical assessments and biomarker monitoring, always, while the practice continually reviews changes in the regulatory landscape with experience of health and regulatory counsel.
Today, Kahn's patient base is 60 per cent women and 40 per cent men, though the men tend to arrive after their wives have already been transferred - sometimes physically, sometimes in
'I am back to a body that I had in my twenties. In a healthy way, if I want to stay like a Ferrari, I have to keep up the maintenance'
energy, often both. She has parents bringing in their 24-year-old daughters, as well as any of them mothers of their who haven't slept properly to years and former athletes with destroyed kids.
The intended doctor is currently taking new patients by referral. She belongs to a WhatsApp group of some thousand doctors worldwide who compare notes on peptide products in real time. Peptide usage, she feels, has only just begun. The global peptide therapeutics market was estimated at $100,000 in 2013 and is projected to reach $65,000 in 2014, according to Grand View Research.
But not everyone can afford a concierge doctor. According to an update from the Partnership for Safe Medicines in May, online sites are selling substances claiming to be nonapplicable, therapeutic and safety-conscious, often sourced from foreign factories not registered with the FDA. A growing number of customers are also buying directly from Chinese manufacturers via social media.
Unleashed platforms have proliferated, making people protected as a whole at lower price points but the quality of overnight, depending on where you go can very considerably. There are also potentially significant sociological implications some scientists believe that the impact of peptide on patients' health and decisions is changing the psychology of this hyper-
Wealthy franchise of society insure on the backlog in the name of the same as the backlog in the name of the same as the backlog in the name of the same as the backlog in the name of the same as the backlog in the name of the same as the backlog in the name of the same as the backlog in the name of the same as the backlog in the name of the same as the backlog in the name of the same as the backlog in the name of the same as the backlog in the name of the same
The Peptide Princess of Park Avenue says the space is still, in many ways, a room, the new patients who have tried the 1ST year before they came to her. 'I'm happy that they end up in the right place,' she says. 'No judgement, I want to hear what you tried, what worked or what didn't work.'
'But it's not just what the peptide is. It's where it comes from, what does, how long on, how long off, what blood work goes in tandem with it, what end points we're looking at.'
One of Romualda's returning clients is Mahida Patricio, stylist and creator from weightbearing Portugal. 'I've always loved Romualda because their huts instantly swallowed on earth,' she says. 'They're naturally unspirable, with such a strong identity, yet they're surprisingly easy to wear. To me, they perfectly represent what makes Spanish fashion so unique: a beautiful balance between craftsmanship, creativity and confidence.'
Romualda's has been come to life in the tapestry of images shared on the brand's Instagram level, and also in the showcases received from customers.
'They write to us to show us where their Romualda is still travelling, or tell them that it is important to see how to every summer holiday, or that it has been passed down from workers to daughters,' says Critton.
After the last of this summer's stock came out, Romualda's new continue to release pieces on demand and fulfill special needs for select customers. In the meantime, a balance of its craft-led aesthetic may find similar appeal in independent fields such as Buffalo or the strain Rats, Zabet.
Ultimately, by the endings it does down rather than scale up, the sisters are preserving the values that reach Romualda stand out in the first place, creating a select number of pieces that might stay with buyers for life.
6
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FYI National
25 June/26 June 2020
Travel
Spearfulness is pure of southeast Asia go deep to heart, regularly holding those breath for up to 10 minutes at a time to slow around the world to down to the seafood. The bodies of these sea nomads have adapted over generations, their options expanding to let more oxygen into the blood, their eyes adjusting to more more clearly underwater.
The earliest hunter-gatherers used power to catch fish, holding their breath to drive deep and stalk their eyes. Paintings on the wall of an underwater cave near Knoxville depicting people spearfishing their back 25,000 years.
Today, a growing interest in shelters (known to each other as 'species') are rediscovering these ancient methods on a way to forage unstimulating and to hunt for their own boat, to explore the underwater world — or just to add extra excitement to a summer beach holiday.
There is no need to have to be seen for that long, however, to get a taste of fishing underwater. In the UK there are crustaceans and fish such as wines, mullet and bass to be found in shallow inshore waters, and you don't need a license to forage or spearfish in tidal and coastal waters, either a winterian or a France and Spain.
'Spearfishing in the UK is really underrated ... all that wild coast' says Maxime Blondel, who942 the Frenchman Spearfishing School in Plymouth, where I have come for an introductory course. 'I've spent a lot of time diving around the south west peninsula and a little in Scotland, and the marine life is among the richest I've seen anywhere.'
After pulling on thick, two-glass warrants, we mustard out in a rigid inflatable, heading south to the sunshine to filling them, on the eastern side of Plymouth branch. Max was at the helm, aided by fellow diver Harry Rasmant, who told me he got into foraging and spearfishing while studying at the University of Exeter, speaking the first time exploring the coast, often catching a former for dinner. In the distance was the fully-prove lighthouse, where, and Max, whose condition are right, 'I'd like a fish and ... you are literally surrounded.'
The first step is to understand your experience, but now what to look out for and learn how the fish and crustaceans behave in the water, he explained. 'Most spearful and with a fish of foraging, getting our head into arves to look for fishers, crayfish or whatever there is to the area.'
So, with a weighted belt and fins on my foot, I slipped into the water with Harry and we concluded along close to the downline. I could see someone of old shapes and sizes (the, cool-like strands of the growth, and big well) was help. As we pushed gently through the underwater jangle, we spotted a crab. Harry docked down to fill it out but it was mostly high. Near the rocks, a little crossbish fanned for long like fins, and a shout of sand with darnel around the reef. Harry disappeared into the help
Really wild swimming
England! On a two-day spearfishing course on the Devon coast,
Any Bell learns the basics of underwater foraging and hunting
From top spearfishing, all the coast of south-west England. Any Bell and Max Blondel study a chart of the Plymouth branch. Any Bell building a brown crab
again, emerging with a large wobbly sea cucumber. Later we found a bigger, meater-busting brown crab. I held it by its back legs as that it couldn't claw me, paved with it for a photo, then let it gently back into the water.
Next it was time to practice the 'black dive'. Lying face down in the water, arms hanging down, I took a deep breath and tried to remember Max's instructions: tops up and head down, holding my body like a hinge, then kicking so that both legs are vertical and pulling with my arms to propel myself down. Immediately the pressure threatened in my ears, an healthy nose and squatback at 10 hours taught — leaving until I felt a slight click in my ears — but then lost momentum and floated back up to the surface.
After a few attempts — invariably forgetting to use my arms, or remembering my arms and forgetting to kick my legs — it all started to fall into place, and I was able to go about five meters deep.
Clear skies had now turned overcast and grey, the air set with bristle. On one way back up the coast, we passed each falling ahead an rocks and rpm/crackers squawking. We stopped in a bay known for scallops, and Harry was soon back down to the seafood to collect some. On the boat, we cracked open their shells with a knife and an them row — too soft to fish and delicious.
I was grew up driving and spearfishing with his father near Toulon in the south-east of France. He trained as a nurse, while playing for the national underwater hockey team, then worked as a commercial diver before moving to the UK with his British wife and opening the spearfishing school in 2018. 'The UK coastline can be rugged, and sea conditions often challenging, which can
be intimidating for newcomers,' he said. 'Not sure you get past that, you discover some cool hidden genes.'
Why not just go fishing with a red and lilac? do one hand, it's more precise, and Max. 'With lilac fishing you don't know what you're catching. In spearfishing you find the fish before you strike — there's no by-catch.' Then there's the simple pro-form experience! 'There is a very large population of anglers in the UK, but not many people go underwater and are here amazing it.'
On my second day, with the sun shining again and calm seas promising good visibility, I was looking forward
to getting back underwater. After a refresher on the deck drive, which I had by now just about mastered, Max handed me the spear gear — which was about one meter long, powered by a rubber band and with a spear teflon roll on a line so that neither it, nor the fish, could get lost.
The alternative is the simple 'pole spear'. Inside fifty-a spear with a rubber loop attached to the rear end. The user takes the loop in hand, then stretches it forward against the shaft, holding it about midway along. When they release it, the spear shoots forward a few feet.
We went through the melonets holding the gun by the handle, keeping the rod resting on my shoulder as I descended, pointing it down and then raising it horizontal. I was nearly there! from I would be gliding along the seabed like Latin Croft with her hairpaws in David Rucker hunting for sharks, I thought.
There are four main hunting techniques in spearfishing. First, there's cave hunting in shallow water close to the rocks; then the mobile ambush — talking slowly, approaching the fish; and the static ambush — lying still on the seafood, waiting for the fish to come to you. Finally, the geese has been you swim along and shoot the fish in open water.
'The key is to be able to adapt to what you're seeing, and then to switch from one to the type to another,' said Max. 'I look at what the title is doing, the behaviour of the fish — and what the attitude of smaller fish to know if there's a predator around.'
hand only in the water, swimming through shafts of sunlight, were a good task, since that then it was the basic tailing nearby, he said. Diving down to the seafood, he showed my flat static ambush, hovering flat and still among the help, spear gear, pointing ahead.
But, like all types of fishing, spearfishing comes without guarantees. After a few more days with the gun, there was no sign of any loss and soon our time was up and we had to head back to the boat. Also, this was where my spearfishing dream couldn't do shooting, no catch to take home.
Often people don't catch anything on a two-day course. I was still, communicating, but the main thing is to practice safe skills. 'Later down the line, when you look everything together, you will get your fish.' Worth later, people often send him pictures of themselves proudly holding up their catch.
I couldn't help feeling a bit deflated, but it still felt like being handed the keys to the underwater world. And if you're going to use fish, and you do manage to catch out, it seems like pretty much the most sustainable way you could find.
Any Bell was a guest of Devon-based The Freshman Spearfishing School (the freshman spearfishing.com), which offers a lifesaver-day from £10 for persons or a two-day course from £600
A kit list for a budding spearfisher
Chris Phailes of insider and the seabed Spearfishing UK suggest the basics:
Virtual! Most spearfishing verticals are two piece, with low response on the inside, and it needs to be wet and slippery before you get in, but is warmer and more comfortable than a surf. Just A full blow-thick out room £200 to £500. Our most popular such are from Salmond, Jail, Bame and Pinney.
Fins Full length headlining fins are best. Entry-issue plastic fins can £65 to £100 — no final. After Europa fins (right) at £80 — but
filmingless or carbon are stronger, lighter and more efficient. (Landsley, Filmingless at £50) or Carbon Fins (£77).
Weight ball Weights are used to be the most important of the world when you dive. Both such as the Phases Hydro, Shackles, Harris and Phoralle are about together balls (£18 to £22).
Peak and central the mask in the most important for all kit and needs to fit well. Most spearfishing masks are ideal for for depth of up to 10 metres a normal male in five. Our most popular
mask is the Salmond, Halford and the Phases Hydro, Shackles, Harris and Phoralle.
M basic spear guns under £100 will be set up in a similar way. The a above Focus for £25 is great! A set of six is a budget, but the best at this level is the
Sprinter Wild Pro 2017 at £85
Flash A thick shot gun to a four-six atheline, so you can drop the gun on an emergency or if the fan lengths the line. Flash, when you have flags to warn boats to stop 100 metres away. A great set-up is the Phases Pro Torpedo double base. Four for about £25 with Rob Allen Rauthier at £15.
Kohas A knife is critical to cut fins in an emergency and is also used to be placed in the UK underwater. A small knife with a Lion Clor-lease is preferred. Try the Phases High at £2.5. Plus: Vopales 4 BE or Rob Allen Dextree £63.
KEY NOTES
ARTHURISES OF GLOGOS
What's the best? In the works leading up to the opening of the Arthouse hotel late last month, the windows were covered in the air and white fabric letters that read 'A GOLF, AL REBIRTH'.
The installation was the work of Saint Kian Ultran, recipient of the inaugural Arthouse Award — a bursary and communion — launched by the hotel's project company, IResched, in partnership with the Glasgow School of Art, and was working in a statement of intent. Built in 1951 as the offices of the Glasgow School Board, the handsome sandstone landmark — all columns, carving and carracing — was first turned into a shuttered, enginably also known as the Arithouse before becoming Albide Glasgow until it closed last year. For their new Arthouse, IResched Counties William Morelan and Andrew Dean — who describe themselves as 'the most common advantage of the building back to its house, pulling up layers of carpet to reveal terroirs floors and preserving the lines rampant embraced on the walls. The restrained result might not feel
radical, but in a city where too many heritage buildings are slowly crumbling (or being destroyed by fire or wrecking ball), it's a much-needed case for thoughtful restoration.
Location, location, location Glasgow is trying to exclaim the gold485ers streets of the city centre as the 'Culture and Heritage District'. This isn't without foundation: within a few blocks of the hotel on Bath Street are the Glasgow School of Art (producer of nine Turner Prize winners, victim of restless in its Charles Rennie Mackintosh designed building), the Royal Conservatoire of Scotland and the Glasgow Fifer Theatre, while basement music venue King Tait. With Walt that is where five halls in a hand called Danie were signed to Creation after blogging their way to stage in 1995.
Handouts of millions are being poured into regeneration projects and, after years of the action shifting to other neighbourhoods such as Finistown and Southside, the area seems to be finally on the up. Arthouse landing on Bath Street feels like a welcome sign of momentum. The mood is buoyant when I arrive in the hotel's opening week of 'taps off' weather and the tables on the pavement outside Italian institution barti, around the corner from the hotel, are full. The countdown clock to Glasgow's turn hosting the Commonwealth Games (which
continues until August 21 ticks above the departure board in Central Station, a 30-minute walk away.
Checking But Growing up to Glasgow, you become somewhat blunt about its own exagger and there's an element of difficulty in stepping into the decoratively field entrance hall — flashbacks to swimming lessons at Victorian baths and cluttering down Edwardian school corridors. Inside, the gilded flourishes and ornate around the pen effect by soft-like lights that hover beneath triangular stainless steel shades. In the left, the bar/change serves pinchy cocktails and hosts weekly music nights; to the right is a new home for much-loved Glasgow restaurant
Celentane's, Straight ahead in the original bean blockage lift that ascends through the central atrium. Hints of the city's creative scene are everywhere, from the subdural flowers supplied by Dublin Karnam in the reception desks of the wide mass picked by East End store Kipe Maga on the coffee tables. 8178 bedrooms have original colour-glazed works from local artist David Iain Brown and bars of Bare Bones chocolate from the store on King Street. Like lots of old buildings, it's a figure purple of room stars. The smallest bedrooms are windowless 'Pocket' (crabjacks aimed at gig goes and anyone else who cares more about what's going on outside their hotel room than in it). Others have triple bright clothing and stout and red windows. Hand-blown lights by Edinburgh based glass artist Vicky Higginson gives beside beds, while the vintage Italian lounge chairs have been roughed over the room's room. It's a big, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun, fun
What to do? 'People Make Glasgow' promise the pink banners across the city and that certainly rings true here. The chatty team are quick to try what they love nearby: a new Basque Country inspired what fair that food. Left: the entrance to the Arthouse hotel on Bath Street, in Glasgow's Culture and Heritage District! Above: the bar/lobby
the best coffee shop for cappuccino and cannell (Laborato in Espresso), and an old boy, bottle-lined whisky pole down the road (The Pet Mill). Next to the art school, the recently opened Grateful Gallery is run by a sweet artist, an illustrator and a sign painter, with an ever-changing mural on the real wall outside; next door, ceramic studio. Garnet Pets turns out vividly glazed mugs and bowls. Hop on the single-loop railway went to show the life of the house (at the time) works of the Glasgow Boys and Scottish Colourists at the Ealingrove Art Gallery, as local cast to discover the next wave of Broadway peaking artists at their stalls at the famous Salamoon-Barrow Market.
What about the food? Nubbing one of Glasgow's bit restaurants, Celentane's, was a real coup and a sign of the decade that Aberdeen and Dunn spent scouting the city and getting sucks to skin. The original site in the East End closed last year, and the new space is as hard with chefs, friends and fans all eager to taste those crisp lounges friths and rhinitis filled spondent again. Husband and wife Dean and Anna Parker have stuck close to their weaving formula, adding a few new dishes (little bites of crispy chicken skin with turnip and kombu ketchup are particularly essential) and turning kitchen water into all kinds of liqueurs for cocktails in the bar. Chef Dean is obsessive about making almost everything in house, and their family's relative to the breakfast. Spoon: the new food, which isn't a whisper up his new yoghurt, granola, apple and blackberry canapain, mornings, pork and bread salami, combined and from muffins. 'Do you sleep?' I ask Anna, the laughs.
The damage Pocket rooms start from £49 (room only), doubles from £149 and radios from £229 (both with breakfast).
Garrison photo All houses, new gather — and an art hotel in more than just name. Fiona Kerr Fiona Kerr was a guest of Arthouse Glasgow (arthouse@edglagos.com)
25 June/26 July 2009
FT Weekend
7
Convivial pursuits
Basque Country | Marina O'Laughlin skips foodie mecca x San Sebastián for
its less-celebrated neighbour Hondarribia – and finds pintxo perfection
land at San Sebastián airport but have no intention of heading to that paramount mecca. Despite a momentary wobble – this might be madness for a cool-carrying restaurant obscure like me – I stick to the plan, and turn around her hondarribia.
Furnished with a couple of bookings and an idea that this less-celebrated town might offer a similar grand buffet of culinary pleasures. I figured it was worth a year. Worst case – San Sebastián's renowned restaurants would only be about 25 minutes away by me.
The one most drive from the airport, Hondarribia's attractions become obvious. It's overlooked by Mount Jubilee, where tranquil bikers and Cuevaso del Norte pilgrims stomp around, and fringed by Vanguil bay, with its promenades and beaches looking out in France and a music skins away. Once in town, a rich model around and a long past wobble, from jauntly painted fishermen's houses in La Martine with ancient campuses of the Old Town, where the streets are steep and certified. Not only, our car is built up by a pique-looking procession of giant puppet-like offigies led by a measuring, ancient骑 chain, a plan that feels transported from centuries ago.
But I'm not here for any of this. The only rich tradition I'm up for is that of the rations appalling the coming going from bar to bar, one or two pintons (small bites often pierced by cocktail sticks) to each, eating and drinking and socializing. An after bar crowd, the counters and glass-fronted cabinets, rounds of bread are tapped with junuts, grooves, anchovies and tortilla at their most basic, reaching levels of hectic sophistication in most ambitious places. Blackboards tell stories of local wines by the glass of the day's hot specials – everything from ripe down managers to San Bernardino's.
San Sebastián's considerably more famous children can require sharp-of-bowed dedication – especially to the best-known bars, then, everything is less stressful, possibly because there are hardly any tourism areas, apart from my small group, nobody taking photos of their food. It apologies for letting the side down 2ft of deeper, too.
Both town and children are divided into two main parts: Old Town and La Martine, connected by steep clichés, a municipal lift of brutalist pregressions or occasionally hard-to-find outdoor escalators. For any serious party or exploring, San Pedro Kalau in La Martine – a wide promenade punctuated by stumps, polluted trees and lined with bars – is where to begin.
Most bars follow the same formula: point-and-order pintzen, to be drunk with beer, superintuitions red wine or, our choice, glasses of petty traders, the lightly sparkling yellow wine proved from a great height over unto the, fine and drama. It's almost impossible to hit a dollar on San Pedro given the scale of the competition, an indifferent pintze joint would simply bite the dust, frame seems on its tongue only. I can only admire the lack of punishing in anyone
Cheleston from main-Rafad on San Pedro Kalau: a rabbit dish made in Badia Taberna: a street in the Old Town; the counter in Rafael; Mika in Plana de Armas; a boat leaving Hondarribia for the French side; Photographed for the FT by Anna Bala
suit and all with this delicious jumble of a language. There might be Spanish, but only the bigger guns bother with English. Even my phone's camera translation function fails, mostly just dragging that transports means transports. (It's superer-crab.) Its prepare for some blind bars.
We head first to Rafael, an old shiner with wherled rubble outside, rustic interior and graft, friendly service (cameo, camerohed.com). This is an immediate contender for repeat visits, as is Vardians (cotamantecoulinas.com) next door – more chic contemporary but with equally sexy seasoning specials: crept-food process with "broken eggs", or florets-pock jowl with an emulsion of a cold twelve (a type of large peanut). At Rafael we enjoy crisparian rich with crabmeat and volume (unweird) the speciality is a frankly debauched sweet, glossy blue tapped with fine glue and sunbreakfast with what appears to be lemon curd.
We follow locals as they stroll and pose and stop for endless chats, to the service of San Onderrillo (harvador-villa.com) for roasted puppies alike with salt cod and sour sweet oatters. Unveiling bar (licoradio) (no website here) at San Pedro Kalau 24) for crispest fried squid and a graven and crab pintze-fashioned into a ocean like a hard forest. Aside to my favourite in La Marina (a serena pack filled (Smarag) Kalau 2), an entertaining center shop in a side street towards the outburst where hordes of Wonderfries balance plates and wine glasses outside. Both pintzen and plates (larger dishes) here transcoed the basic – grilled (cigaroo (tiny cocktails) with caramelized sauces, a thick, soiling tortilla di bacalae, parathons (fat crisps laden with mounds) – without resorting to the offshore that creeps in showdown.
Yes, I do mean celebrated Bar Gran Sol (burgranod.com). Despite having the breast table in town, I've not waved. It's too overweavable consider the "Hondarribia", a pintxo compound of fine gum (the contentious liver is hard to avoid here), salt cod, puppers and peach jam, or the "jubilee", a mess of mushroom, cheese mousse, and, balsamic cream and crispest up jamies. One otherwise
unreasonable item arrives belching fumes from its miniature barbecue market. I blame novelty sponge TikTok. Glorysito would breaking array of pintxo awards. I'm clearly in the minority. They even face a branch in Tokyo's Hibisiya.
Next day is all about the Old Town. Up to the summit by 100, street walking alone for those cobblers, and a bunch of sun-fired bars is sample. The mood here is different – less pomagazine (FT can also European condominium and more.) I am adventurous stagger. Just beyond the negative entrance – the little-century Santa Maria's star forever guarded by the statue of Oscar Rafael soldier – is Fata-jam (cameo.com) (burgragastricbu.com) where a groves up crowd enjoys award-winning box-saddles. Balsamic – virtually a whole food stuffed with slow-cooked beef, roasted tomatoes, sheep's cheese and rocket – is charmingly billed as "our mother sandwiches in Spain (left)". We obviously have to order this – if they up to be self-bigie – plus handcakes, homemade carambhat under a mattress of hot hand.
In the center of Plana de Armas, with its striking town over the bay, stands the lowering frauder in Hondarribia (cameo.com). And, during the 20th century to protect the town and, now as a hotel, still bristling with armour and weaponry. It is an restaurant, but across the square is one of the most interesting places to eat, Mika justices (mikomodarribia.com), owned by chef
Mika Pop. Ex-Gran Sol, her food is lighter and less OTT, while still wildly creative. Here a decorative corner of modarribia – tions sweet scallings dressed with beehives and soft drinks, and the inkest rice with smoky grilled cattle/fish. While at Gran Sol, she invented the mixed-winning "Mika" pintze, and imported it here – bacon and cheese. And, in the center, she is a fluffy toast with mayonnaise and volume uncrowd. That award was well deserved.
Badia Taberna (badiataberna.com), an intimate little bar and restaurant, cosy and elegant without being pretentious, sits under the parachute of Plana Aqueduct, a professional, but not a place where, glossy with rich en)^{[1]} an international, glittering anchovies or artichokes bathed in virgin olive oil, and, as the most bitter y-bird cream, larger dishes – rabbit, maybe, or sweetspicy soups. There's an attractive, old-fashioned formatity to the Taberna. It would be the perfect darling of the night, with its vaguely blogger with the
Sadly, we decide to keep going. Up till now, we've been greeted with daerts and warmth by staff and fellow pinter losers. The only vocal love in this, the most recommended Medicos, since Ming itself as a "speakman", it's more of a ransom bonser with huge TV brand to sport. At the bar, an over-eyed regular bonus in "Brexit," he hines at us. Maybe he's a fisherman, best bilanser on, I has had.
To go to service here in Hondarribia would take for longer than our three days. I only manage the files of hilariously-zwellit forestdale Taberna (no web site, San Pedro Kalau 22) and arere-filled Yola Barri (no website, San Pedro 22) for breakfast, my love for juniors Retrice to start the day remains unobtrusted, but even I hesitate at the brunchy-faced caravillo collines ordered by some workmen.
After those initial reservations, there's no temptation to peel off to San Sebastián after all – there's more than enough to keep us occupied in Hondarribia. We do make a trip out to Catania, a fishing village 61 minutes' drive to the west – not to eat at the terrifyingly expensive and unreminded hotel (Blasen, the Gran Kaja–Gran Kaja.com) a similar menu for grilled barber to bolstain at marginally gratter pence that which left us feeling a little processed like cardmon.
And we make a pilgrimage to steak streams, Cani Jublin (canjilabena.com), in Tolima, 60 minutes each week. You declare: reputation is a unimaginable, but not not bad day, thank back at Hondarribia's own temple to carefully, family-run (Los Eremops-Salaverropha.com), a beautiful building in verdant country-side. An inception hand with huge glass-finger summed with one of beef, and a few of two are the most popular. I'm still thinking about the divers of our wages beef, the clues rice and the palate-flooding parties of the mature, dry sparks, and, how to they can beckon thick. My only regret! Not making it to one of the greatest duets found I've ever met.
We have made several of several highs. Because San Sebastián airport isn't in San Sebastián, but right here – the supreme San and/or the beautiful cockpit glider. And it's no clue to town walking along the outfront, one of our party was transitioned by the spectacle of planes coming into land over the bay and looking filled; to a cash into the city centre.
Perhaps Hondarribia doesn't have the international reputation of San Sebastián, but it's all the better for us. There's no future business, but it's no make sure you hit the bar with the best tortilla, or the must have anchovies. The whole city feels like it belongs to its locals. And, if only temporarily, yourself.
I (ATTALY)
Headset by Pasadena Spandino and San Anabelo was a CBA, a case leader in the national and national service, one for other parties. There are three Flights from a blue skating London, Pebble and Barroca, there by airport at Zelen River, and, but, a wider range of services.
POSTCARD
FROM
CASTELLUCCIO
Dawn was breaking as I drove out from the Umbriar town of Nocia, happily enjoying the freshness of the morning in
the middle of one of the most frightening heatwaves of recent years. The road climbed in archbiltocks, just bay meadows and stands of beech still in shadow, until the trees thinned and the Sibillau Mountains opened up on every side, bare and blue grey even in later year. Just below Fraca Campino the road coats, and there it is: the Plana Grande – the Great Plain – a vast green bowl (rapid by garlic, with the broken silhouette of the village of Castelluccio di Nocia pierced on its rim like a lookout post.
The view taken you by surprise: nothing in the drive prepares you for the scale of 16 sq km of flat pattern sitting at 1,500 meters, walked in by mountains as if the Aporoino had swallowed a slice of Mongolia. You almost expect Tolkico's bobbin to be
making their way across, searching for the ring.
I had come to the Jivetton, the annual flowering of the lentil fields that turns this plateau into a patchoard of red puppies, blue cornflowers, white chamoenites, yellow exposed and, above all, the delicate violet blue bloom of the Castelluccio lentil itself, so show in a pool year that the valid floor looks for dyed. It is one of Italy's great seasonal spectacles yet almost unknown outside the country.
This is not a good year. The great heat had arrived early and hard, and the lentil flower – a busy, high altitude plant that works cool nights as much as sun – had barely shown itself. What I found instead was a number given over to puppies, wild chicero, chamomile and a mixed flavor of small wild flowers still lovely, still worth the climb, but a pale, patchy version of the carpet in the pinnacle. Faraway from Plana Grande say the flowering window has grown shorter and less reliable as summers heat up faster than the crop can adapt.
The lentil head, Loaiacha di Castelluccio 0327, is anebulously way of this, at least for sure. Small, thin skinned, seeding no soaking, they are famous for their mineral sweetness that comes from growing in volcanic,
waterpigced oil at altitude. These lentils have been cultivated here since Roman times, and in Nocia they turn up everywhere: stewed with pork rind in winter, folded into soup, making a bed for delicious Umbriar sausages, and add in paper twists from the northern that has the old town's main street.
Nocia itself makes the trip worthwhile. This is the ancestral home of the nerdus – Italy's word for pork (hacker derives from the town's name – and its shopfronts are still hung with hams, salami and the black Umbriar traffic in season, the main street
The Jivetton, the annual
flowering of the lentil
fields, is one of Italy's
great seasonal spectacles
yet almost unknown
outside the country
seeding family of traffic and cured list. The cathedral of San Benedetto, birthplace of the town's patron saint is located on the site said to be his birthplace. It Benedict (1489-547) is attributed with being the founder of western immunization: the Rule of It Benedict became the template for research with across medieval Europe. He was named patron saint of Europe by Pope Paul II in 1968.
The cathedral in Nocia wears its facade-like a mark: the interior collapsed entirely in the earthquake of October 1968, and although the front has been stabilized, the reconstruction made is not expected to finish before 2027 or 2028. Surferling is a permanent fixture of the skyline here, but so is the market also. But trattoria, the queue for founa and traffic better, Nocia is rebuilding itself most by most while the masonry catches up.
Castelluccio, the village which more above the lentil meadows, is 3/6km further on and for smaller, and has had a harder time of it. The 2016 quake all has flattened the historic centre, and for years the village was a single ruined street watched over by a handful of stubborn malhedites – only four families remained after the earthquake. A decade on, it is still not whole engineers have settled on the
almost extinct-fictional solution of rebuilding the entire hilltop centre on a small of serious solution, a floating platform designed to absorb the next big shock. It is a project that Tolkico's regional government hopes will become a model for earthquake zones elsewhere. For now the village is one of scaffolding, temporary blocks. Fortunately and last year several home houses, with the old finished facade standing out among the edible. It is not the picture postcard full term of the tourist board, but it is returning.
Walking the plain below, it struck me that Castelluccio and its lentil flowers are telling me that they are still unfulfilled angles. One a village rebuilding itself against the sides the other a way that has survived earthquakes, isolation and desparalism only to meet an adversary it cannot engineer its way past.
Karen Muhammad
I (ATTALY)
For information on Castelluccio and the Spiritual, non-cantilly, and in this article, visit Castelluccio and the Hospital and Public Library of San Francisco, San Francisco. © 1989 Castelluccio and the Institute of Women's and Women's Health. All rights reserved. © 1989 Castelluccio and the Institute of Women's and Women's Health.
8
FT Weekend
25 June/26 July 2024
FT Globetrotter
DC's reopened Museum of Exploration is a triumph
Washington | National Geographic's reimagined showcase of its work inspires both childlike wonder at the natural world and a desire to protect it. Myles McCormick reports
Wonder through downtown Washington after dusk and you might be drawn by an orchestral score to a courtyard transformed into an open-air cinema, projections of prowling octopuses and broaching whales stretching across the glass facade.
Any confusion as to what you have mumbled across should quickly be allayed by the US yellow rectangle at the centre of the Surface — a partial sized rendering of an instantly recognizable logo in case there is any doubt, black capitals printed across the old office spell it out. NATIONAL GEOGRAPHIC
The National Geographic Museum of Exploration responded in June after a four-year project that has expanded it from a small-scale exhibition space at the society's DC headquarters into a technology-driven monument to the spirit of human adventure — and the latest offering for visitors to America's museum-dome capital.
Since its establishment in 1888, the National Geographic Society has come to build a special place in the American psyche. Its bright yellow magazines pile high in homes across the country and,
for the past-quarter century, its TV channel has bounced footage of wildlife and the natural world into the nation's living rooms. The TV may not have David Attenborough, but for many Americans "Nations" has become an institution just as revered.
The revamped museum pitches itself as a celebration of the explorers backed by the new profit group over the years, showcasing their trailblazing expeditions and conservation efforts and encouraging wanderlust gripped visitors to engage more closely with the world around them. "It's the next chapter in our history," said Darien Wright, National Geographic's chief financial and operating officer.
I arrived for a tour shortly after the museum reopened its doors to the public. Wearing you way between the bronze statues flanking the entrance — a bronze appar walking a cupboard and a byron sporting with a culture over a whirlwind carcass — it felt like I was already being transported out of the sub-and-to-clad environs of the US capital into a very different world.
As a nature junkie, I had jumped at the assignment to ease out the new museum. Aged eight, I used to sit in front of nature documentaries drawing pictures and taking out shows notes on everything from the Atlantic clashes between whales and giant squid to the treacherous journeys of statues finding their way back to the river they were born in after their years at sea. This was an opportunity to rekindle that fascination.
Inside, visitors are plunged into the work of the society as they find themselves suddenly stepping over display cases laid into the lobby floor that house replicas of some of the contributions made by National Geographic explorers to our understanding of the natural world.
Brussels visitors' first, Bradley the emperor penguin dives into the 1st
Above: Joel Sartore's centerpiece 'Photo Arts: Animals of Earth'
Clockwise from right: a male Guinness cock of the rock, part of Sartore's 'Photo Arts' a customized Art used to track tigers in the Western Glantz; a sculpture of the National Geographic logo
waters of the Southern Ocean in 1999 wearing a backpack with 'Urbercave', a disconcertingly realistic greedy bear named Marina lies sleeping in her skin, sporting an early trucking device from 1962, and an early model of the stars of the Titanic — based on the first photographic taken of the surface lines, captured for the magazine in 1986 — onto an the Atlantic seabed.
Visitors can largely choose their own adventure. The museum authorities estimate that the 2,000 to 3,000 daily visitors to the museum will spend an average of two hours meandering through two floors, but you could easily take more time. And with tickets priced at $50 in a city belonging with free museums, you probably should.
The much larger Smithsonian National Museum of Natural History is just a 50-minute walk away and does not charge for story. But the two museums have distinct offerings: the Smithsonian tells the story of the natural world itself, while National Geographic recounts the endeavours of the adventures and activities to understand and protect it.
The story of the building's renovation has reached roughly $500mm, with involves still rolling in, bankrolled by a host of corporate and philanthropic donors including history with Brooker Parks and the Life Endowment, which give their names to different exhibits. These funds have driven a major expansion at 1062000 sq ft, the museum is roughly five times the size of the previous exhibition space.
In our work, where current Victorian adventures once paved over maps, would-be explorers can now cover the air-livers. Digitized historic publications of the magazine date back to the first issue, in which a door brigadier general matter-of-factly recounts the passage of the Great Impact of 2008 across the US, killing more than 400 people.
At its heart, the museum aims to
be an interactive experience touchscreen allow visitors to play at being a picture editor, reviewing photos and laying them out for print in a magazine, or a photo developer, virtually processing a cell of film in a digital darkroom.
In the so-called Learning Launchpad, the groups of kids can listen to them. This an explorer, keeping between floor projections to select the answers to quizzes or designing maps with digital cartography software.
And in the Governor, they can explore projections of Australia's Great Victoria Desert and interact with abusive wildlife that changes as day gives way to nightfall.
When the National Geographic Society was established, with a mission "to increase and diffuse geographic knowledge", the Victorian age of science and exploration was at its worth. Henry Morton Stanley had shot to global fame with his small published expedition to Red Devil Livingstone on the shores of Lake Tangeretka. Phelps' Names had just traversed Greenland: Hiram Bingham would soon discover — or at least take credit for discovering — the ruins of Macho Picchu.
Yet that zeal for adventure often went hand in hand with colonialism, trumpling native cultures and plunging historic sites. Stanley's work snapping the Congo laid the groundwork for Belgian King Leopold II to impose a brutal regime to pursuit of personal enrichment. In 2018 National
Geographic issued a area culps acknowledging the influence of colonialism and racism in much of its historic coverage.
While adventure is still at the heart of what it does, today its pitch is "to illuminate and protect the wonder of our world through exploration, research and education". In an era where Google Earth can immediately place you on a side street half a world away, the nature of what it means to be an explorer has changed.
"The umbrella for exploration is a life white," said Wright. "It's conservationists. It's storytellers."
Upstairs in the museum, visitors can interact with digital profiles of the hundreds of modern explorers the
of the Okavango Delta with Bayot guide Gobenamung "Gil" Ageika, in one of the society's flagship conservation projects of recent years.
Visitors can also reach out and touch a replica of the closed atmospheric diving suit used by marine biologist Sylvia Earle when she became the first woman to walk untethered on the seabed more than 3,000 feet below the surface in 1979.
At a time when the natural world
is battling a host of man-made enterprises — from climate change to the biodiversity crisis — National Geographic hopes the museum will inspire people to take more active roles as stewards of the planet.
"The mission is more important than ever," said Wright. "I want you to come away with. Then can I take action? How can I have an impact in my own community?"
With half of the world's animal species facing potential extinction by the turn of the next century, the museum's first temporary exhibition, 'Photo Arts: Animals of Earth', discusses photographs Joel Sartore's reference to create a permanent visual record of the planet's biodiversity before it disappears.
An interactive quiz tells you which of Sartore's subjects you must resemble
As the natural world battles a host of man-made crises, National Geographic hopes the museum will inspire people to take active roles as stewards of the planet
National Geographic Society has supported, and listen to them tell their stories as their own words. Much of their real equipment is scattered around the building.
"Uryna," a Natived bandit Art used by Illuminate Sandwich Gutter to track elephants and tigers through mornings in India's Western Glants in the early 2000s, has pride of place on the upper floor. Repairs with camera mounts and field modifications, it had to be lifted by crane into the museum during construction, with the building later completed around it.
Behind it hangs a modern flat-bottomed canoe used by conservationists Steve Beyns in the 2010s as he dodged hippox in a bid to explore and map the source waters
to character. I was confident that my response indicating my love of the outdoors, comfort in water and kindness for children would convince the computer that I resembled some kind of drank or grizzly bear. It did not.
Instead the computer told me I shared characteristics with the Sierra Nevada yellow-legged frog, a reclusive amphibian that feeds on beetles and flies, and whose population has plummeted due to a combination of invasive trout and a fringe outbreak.
Still, as I wandered out of the museum into the heating DC sunshine, slightly giddy, I felt momentarily like that night your selfies again — showing over the vast distance travelled by glistening clouds of fish and the nearby ocean depths plumbed by diving whales.
Myles McCormick is an FT correspondent based in Washington
This article is part of FT Globetrotter's single guide to Washington DC. To check out all our info guides, visit: Gobenamung. © Earth's go to Gobenamung.com
25 July 2015
P/Wedwood
9
Books
Life&Arts
Angels and
demons
of Harlem
As Colson Whitehead's Harlem trilogy concludes,
Arin Kenle looks at the Pulitzer winner's pivot to
crime fiction to explore hidden histories, Black
aspiration and the forces – from the civil rights era
to Reaganomics – that shaped New York City
C
"C
have, baby, churn." In Cool Machine, the much-anticipated third volume of
Colson Whitehead's Harlem
trilogy, the principle of
"churn" that has guided pentagons like
Carney's common as a frontman vales-
man and crooks over 25 through the
new meanings. Carney's life as a family
man, small business owner, and "force"
for stolen goods – which keeps dragging
him violently into the criminal under-
world – has inspired a defiance before
ing act, but this concept of "constant,
individual change," has kept him mar-
ning. In this final instalment Carney
begins to wonder where, exactly, it is
taking him.
Just as Carney moves between diffe-
rent worlds, Whitehead is both a cele-
brated literary author and one who
thieves in popular genres. His 1999
debut, the Intuitionist, is a acer-
to work of specialties fiction. 2013's
time the 1st year apocalyptic zombie
novel, and the Harlem trilogy is un-
badied crime fiction. Yet Whitehead is
A cast of vividly wrought
characters helps create
a world of contradiction,
humour and pathos
also only the fourth volume to win
the Pulitzer Prize for Fiction Notes, for
2015's The Congressional Railroad, a com-
terlectual slave narrative that also won
the National Book Award, and for 2019's
The Nobel Day, the first hundred story of
the Desire School for fiction, where
unprovoked by the 1st year of students
secured in 1960s Florida.
Critics have often pondered White-
head centrally within the so-called
"green-tune" of the early 21st century, in
which literary authors from Kansas
colleges to Margaret Arwood have
adapted popular genre models. Another
way of understanding Whitehead's
project, though, is through his
approach to history. Throughout his
body of work and centrally in the
Harlem trilogy, he has brought hidden
histories to light, and explored well-
known events from new vantage points,
the natural and the humanity.
Cool Machine is a hugely satisfying
conclusion in a towering achievement,
and rounds off the trilogy with a the-
matic focus on aspiration and change –
or "churn". In the first instalment, Har-
lem (Bldg) (2012), the action takes place
between 1959 and 1964. Here, Carney
knows how "churn" is the circulation of
goods "in and out of people's hands and
fears, between buyers, dealers, and the
most buyer and seller. This concept gains
tentative when he compares to various cir-
cations of behavior and pay offs that,
according to a correspondence to whom he
hands-on envelops each word, "keeps
the city running."
In the second, Cool Machine (2013),
spanning 1975-76, the term expands to
encompass larger accounts of change
"people replaced each other, the ethnic
refines from all over to all the places in the
tenements and treacherous, which in
turn of an all over replaced by the next
buildings." Finally, in Cool Machine, set
between 1981 and 1996, Carney refines
on a lifetime of restoration, striving and
severely as to contribute what he calls
"his own personal churn".
Carney's journey includes a large cast
of vividly wrought characters that can
be and out of his own the course of the
trilogy. From an ancient-tuned film
Intricate Egypt, in terms of the "EPPO
method" of illuminating "Crispore,
Intelligent, Persecutive, Profane, Ver-
tery"... to occipitous career criminal
Pepper, who softens over years of
fewaldup and the same "Yacht-Pepper"
for Carney's Hellenic, Whitehead has
created a world of normalization,
change, humour and pathos.
Though Carney understands his per-
sonal "churn" as the conflict between
the identities as "the crowded corner,"
and "the good husband, the caring
father, the upswinging businessman,
Cool Machine is not about a moral man-
ming as regards his criminal activities.
In fact, the crooks that applause White-
head's Harlem era, if not sadized, gen-
erally more principled than to straight
world-spectators – particularly the pre-
jects of the Hellenic.
What Carney does reflect on in this
novel, is a way that brings the trilogy
together, in the nature of his entrep-
ronist drive, particularly as it relates to
his family and community. An against-
change on a New York, Cool Machine
Cool Machine
by Colson
Whitehead
Photo C2/Shackleton
(351.349 pages)
repeatedly throws up the exacting ques-
tions: "who are you now and who do you
want to be?"
In every genre he works in, White-
head is a writer of seemingly effortless
style, and his descriptions of New York
City are constantly linked to these
questions. When in Cool Machine the
1970s city is "an enterprise" that is
"east, complicated, and crooked," in
1980s, the Cool Machine is a "monstrous"
entity powered by innate miseries,
sperated by brain will, and held
together by place, key, and rebar.
Carney is a deeply conflicted charac-
tive a faithful husband and deeply loyal
to his employees and friends, but also
wrought and grudge bearing. He has
overcome the early loss of his mother,
and the neglect of a criminal father, to
get a degree and start his own business
– which grows and grows over the
course of the three novels.
Yet, as proud of this bootstrap self-
making as he is, Carney is also aware
that this was only possible because of
$10,000 of 20 genres each he found in
the spare type of his father's pick-up
track a year after his death. Not only is
his self-making qualified, but he
remains attached to his father's crimi-
nality in a way he can't do it.
In every genre up the criminal activities
he long periods but invariably returns.
In Cool Machine, he is again drawn into a
relay caper – a heist at the Walnut
Artsley – and his meetings on "the
churn" sound increasingly like ways of
allowing his attachment to the chaos of
crime. Actually, in a story strand that
roes through the first two books and
returns to the fore in the third, he is
humored by his inability to save his
cousin freddick, who are grey up with,
and it is the first draws him into a final
underworld drama.
While the trilogy centres around one
man and his family, it offers a rich vision
of both the nature of individual aspira-
tion and the history of this period to
Harlem, drawing from the civil rights era
to the age of Reaganomics, the com-
timing explosive public histories – race
tests, police shootings, fires, drug agri-
demics – interact with Carney's peri-
sonal insights. And, in a lower narrative
strategies help to connect the family
story to his future with backdrop.
his self-making qualified, but he
remains attached to his father's crimi-
nality in a way he can't do it.
In every genre up the criminal activities
he long periods but invariably returns.
In Cool Machine, he is again drawn into a
relay caper – a heist at the Walnut
Artsley – and his meetings on "the
churn" sound increasingly like ways of
allowing his attachment to the chaos of
crime. Actually, in a story strand that
roes through the first two books and
returns to the fore in the third, he is
humored by his inability to save his
cousin freddick, who are grey up with,
and it is the first draws him into a final
underworld drama.
While the trilogy centres around one
man and his family, it offers a rich vision
of both the nature of individual aspira-
tion and the history of this period to
Harlem, drawing from the civil rights era
to the age of Reaganomics, the com-
timing explosive public histories – race
tests, police shootings, fires, drug agri-
demics – interact with Carney's peri-
sonal insights. And, in a lower narrative
strategies help to connect the family
story to his future with backdrop.
First, the trilogy is highly episodic,
such of the three novels in divided into
three distinct stories set during diffe-
rent years, so there are nine discrete but
interesting stories of about 100 pages.
They are also novels that reveal in figure
set along the lines of the eccentric
gallery of crooks. This creates a poly-
phonic profession of love, and we see
Harlem (being over time and through
different perspectives). The joy of the
crime genre is that these often come
from the underworld, and an overall holi-
des histories of the period and alterna-
tives to the public record.
One example from Cool Machine
comes when Carney's son argues that
the origin of cup means is to be traced
back to the lightning strike-induced
blackout of 1971 – and subsequent wave
of moving into the dark of the west-
terling, since Black days, I have
argued, "Black boys started goofing off and
experimenting with their perplexed
speaker systems and turntables
and managing records back and
forth, scatting monsoon Alymes into
indian microphones."
The anecdote echoes another kind of
"dull" that is part of the tap origin story
– sampling – which Carney also
debates with his kids. To them, he points
to whom his son using imagery that
emphasizes creativity rather than theft
to offer another point of origin. "or you
could say to me the bull of lightning?"
This is typical of the trilogy's editing
perspectives, whether of cultural
Throughout his work,
Whitehead has explored
well known events from
new vantage points
history – Carney's trip with his daugh-
ter to see The Jacksons I and the use of
his showroom as a Blaughterhouse film
set – or political history, including his
championship with the Black Panthers
and Black (December two), and his
devoted to Reagan.
The 1980s era of opacism capitalism
is a compelling backdrop for Carney to
reckon with his own history of individual-
ethics driving – and this is where the
complexity of Whitehead's vision of
aspiration comes into view. Just as it
celebrates the spirit and drive of Black
New Yorkers coming out from to the
last of white supremacy, it also points
to the destructive dimensions of
"progress". Carney works hard to
get the same, but also begins to
question the capitalist "churn" to which
he is embroiled.
In the first story of Cool Machine –
control around the Walnut heist – his
crew goes underground into a disused
holiday line to find a vast bottom-
man's position in the world. He identifies
these people as "sometimes of the
prosperity above," and dismisses
merely and judgments: "This look had
been another way, who knows how he
would've ended up." (The novel's final
section, in which he once again re-
serves the criminal world to help
Freddie's way. He comes to realize that
evidence and rugged individualism are
not qualities everyone should or needs
to express.
Where Bull's Cool Machine and
Cool Machine don't a rich local canon,
from Claude McCauley Harlem Remin-
tionist (host: How to Harlem (1930) to
Charles Hines) and century detective
novels and James Rabbick of Bull's
How to Harlem (last 1970s), it is more
but a new, Bull's Cool Machine (last 1980s)
and The Nobel Day have slightly ap-
proved multiple stories and had highly
successful seven adaptations, this tril-
ging of unspoiledly crime novels may
be Whitehead's most important and
the long work yet.
Up close with Nigeria's romance scammers
Jacob Judah on an exposé of
Panditers in Lagos operating
an online racket that preys on
naive or lonely westerners
They are love stories that
always end in town. Nige-
rian internet scammers,
seeing as young women as
disking celebrities, seem
westerners too lonely or too naive to see
the wearing signs.
In a Colson Barragán, the story is com-
soned. After his mother was duped by a
Nigerian fraudster posing as a disking
America an soldier promising to ship gold
from Syria, the Spanish journalist set
out to discover the most behind the
scamming accounts. Even, he wondered,
but they conceive a well-ordered
middle-class woman in Madrid to have
her soul to a stranger online?
The result is the fallen days, a wea-
derfully written work of reporting from the
backstreets of Lagos. Barragán
profiles four, mostly down-and-out
Nigerian romance scammers with col-
sons, churns and a eye for the details
that made itself misleading.
These young men crusade what Bar-
ragán calls a strange "intersection
between western loneliness and Nige-
rian poverty". But what begins as an
effect to understand how his mother
could have fallen for a year after
became a dissection of the realities and
motivation of the scammers there-
above. It is a "story rooted in cool place,
with cool people, shaped by the
weight of history, technology, and the
global economy."
The Yahoo Boys, whose name derives
from the usual provider that first con-
nected them to the world, are often
young, drug-added and reliant on
scripts downloaded online. At the other
end of their scams, mother of isolated
and aging westerners with sobriety to
talk to. Crushing women loneliness is
the common thread that ties those
parental shingle reported last-hat-gender.
The accounts of relationships
peppered with direct extracts of
conversations, are enthrallingly – not
a little previously – unscrutely.
There, a middle-aged Irishwoman
who is scammed out of €50,000 over
four years by Calouste, surely realizes
that she is not speaking with the Ameri-
can mixed martial arts star Cody
Khodes. "I'm not in love with Cody
Khodes," she tells him, after he has
stood her up 23 times, sorted her home a
glance number with a Nigerian flashing
prefix and drained her savings. "I'm in
love with your wife."
Barragán's research suggests that
there could be tens of thousands of
young Captains dribbling in scamming.
Nigeria has long been associated with
online leads. But a recent out of living
crisis, born of shock economic therapy,
has provided an added incentive
for people without work or prospects
to explore alternative ways of making
much more.
The Yakima is straightforward if you
have a mobile phone, write fluent Eng-
lish and have patience, from you can
fill the romantic and sexual voids of
most westerners and defraud them.
"I'm understand why victims of romance
scamms tend money, you have to remem-
ber your life and accept the
relationship as real," writes Barragán –
adding that some can be pushed to far
into after that they lose their homes.
Romance scamming is an industry
dependent on the weird economics
that the internet has made possible
scammers and their lovers to void
them cryposcerencies or nearly
redeemable items such as gift cards for
well-known stores or video game plat-
forms. These cards, which can be
redeemed anonymously, are then sold
on. Cards for gaming platforms, for
example, go mostly to Chinese inter-
nvation where clients seek to skirt the
Great Fawcett to play western games
banned in China.
When the scammers find someone
willing to send them money, they keep
the relationship going at all costs. They
order flowers and rings to give their new
relationship a sense of being grounded
in reality, they create memories and
matters, and set up other accounts to
flesh out their foes. When things become
testing, they threaten and bully.
One woman, whose Barragán tracks
down in Kentucky, takes her own death
to extricate herself from a relationship
with a scammer turned over.
When it works, the Yahoo Boys enjoy
the spoils. They move into hotels,
splurges on clothes, drugs and alcohol,
and plough money into supporting up-
and coming musicians. But it never
lives. "There's something about this
Yahoo money," complains R&H, one of
the Yahoo Boys. "If you don't invest it,
you can't keep it. You have to spend it."
It is an irony at the heart of the book
that many of the Yahoo Boys* end up
being scammed themselves – by girl-
friends, drug dealers and the Chinese
women themselves they call on to.
Barragán sees the book grew
out of a failed effort to write about
the illness in the next. He poses a ques-
tion that again over everything: do
the victims realize that are being
scammed, or is their isolation simply
to drop that the other themselves
to continue to keep them off by their
fraudulent paramount?
Barragán finds that there is no
well organized, well-oiled scamming
machine operating out of Nigeria.
"Best of these young men, we're I
master manipulators," he writes. "They
were just fulfilling money emotional
needs, relying on repetition and
psychotherapy."
For people who feel unseen in the
last of the series, the Yahoo Boys offer
something that even real relationships
struggle to proceed. "Constricted,
and/veiled attention."
Jacob Judah is the F.T.S.
West Africa correspondent
10
PT Weekend
- Oct/26. Jan 2020
Books
Order in the chaos of history
Alan Smith revels in a messy, beautiful study that traces how humans
visualised information about the world around them over 800 years
am a sucker for在这种情况下. In a recent visit to the Atlanta History Center, my attention was grabbed by a cloth into bag featuring the statement "History is money - and it can bring an together." The way was that before and before people who I'm also shown to Paul Kahn's new book.
Spanning 800 years of how humans have used graphics to understand and explain the world around them, from biblical tales to trade issues, from ancient family trees to sea and ethnicity. Hopping knowledge about Time is a lesson that beautiful foods that wouldn't look out of place on a cold night. But in particular, the world is a lot of people who are doing so much, which are to be found the usual form of data visualization history - these experiences to encounter the works of Florence Nightingale or Edward Nairn will come out and be published.
Kahn is a lecturer at Northwestern University where, among other things, he teaches the history of information design. The history he presents here is predicated on what he calls "an imaginary library" of seven very real books, kicking off in 1334 with the Tabula Rogeriana (The Book of Roger), he also encounters The Labyrinth (1373), the Nuremberg Chronicle (1495), the Tưba Man (1612), the Albin Biterique (1704), the Physikalische Atlas (1812) and the WorldCat graphic (American 1915).
Kahn explains his selection by highlighting the "books" shared attributes, most notably that each were its contents to "a subject" and to visualize the entire world. Choosing a seven books from the best part of a millennium book, the subject of an library collection, has the selection to be well.
Given the centuries separating the books, there are plenty of overings in
their visual identities. Timelines represented by Herbert Mayer's 1898-century WorldCat Graphic Atlas to the elegant curved lines used to family trees in the Nuremberg Chronicle, an illustrated encyclopedia that was published in commercial success nearly 500 years earlier. Indeed, rather than focus on one book as a treat, Kahn organizes the chapters around such shared pieces.
He explores a mixture of form and topic. The former includes a chapter on how all the books are circles in varying contexts, while the latter includes one class that makes how transport, trade and classification of inventory have evolved to reflect cultural and economic conditions of the time.
A thought-provoking chapter on the representation of time shows new multiple solutions to the challenge of drawing past, present and future on a static page, while dealing withoverline and cultural thresholds. An illustration of which John Smith's Nuremberg Chronicle skillfully depicts carpenters preparing the page, the completed vessel being loaded, and a drive and running with a branch as a single visual narrative.
In the Physikalische Atlas, a collection of maps and charts focusing on the physical world, time runs from left to right to convey the evolution of geological formations, but it could quantify the passage of time to "see directly challenge Bishop Yorba's calculation that the date of Creation was 6,000 years before the birth of Christ." The graphic itself is an adaptation of an 8th original by the philanthropist and geologist William Buckland. Announcing the information source of information visualization, Practitioners stand on the shoulders of giants who may have been active decades or centuries before.
Above: a map from the Tabula Rogeriana (1514)
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25 June/26 Mar 2009
PT Weekend
11
Books
a Greek mythology, Protons is a shape-shifting sea god and other people with a new house to start past as well as the future. He is best known from Homer's Odyssey, where he tells Montelans something so horrific that the Tygian war have wishes he could forget that he learnt.
He is also the apt heckling for Valeria Luiselli's bewitching fourth novel, Beginning Middle End, a multi-faceted book of portraits and possibilities that opens with a similar anxious to create a new life for herself and the 22 year old daughter after a postcarded divorce.
"Chad has to change to something like pregnancy, a teenage thing, perhaps, to expect from time or from life the chance to begin, as to begin again," says the mother, the story's main narrator. A thirty something author with an elusive back story and a new novel to promote, she takes her daughter out of school in New York and embarks on a European book tour.
They wind up in Sicily, but ancestral home and relevant to the mother's concern with anguish as her writing - a bridge between Europe and Africa.
Luiselli's fragmentary prose creates a feeling of being inside someone's mind as she skips from topic to topic
the is drawn to Czechos, next to whom her maternal grandmother was born, the empty apartment is a bar disposed for a few weeks while a friend, a grandson with whom she had an affair, shines his sweetness.
Among the items she unpacks is a small mosaic life bearing an image of Protons' "screwed music, prominent news, heavy rock," her "human connection" and pocketed - the artefact decades earlier when she was helping to excavate a human villa. The mother brought it for sentimental reasons but her daughter becomes convinced that keeping it is unlucky. The first time she was to play her them to restore the life, repairing a road trip across the land.
This alone would make the new engaging presence but much of the novel's ingenuity and intrigue in its its subject and interrogation of themes such as memory, migration and the uncanny of a witty.
Luiselli, a Mexican-born, US-based author who shares many biographical details with the mother's mind: how it now knows for her last novel, Lord Children Archive (2019), which won the Nothia Literary Award. In that work, she used another novel to go to send a branded family from New York to Arizona on the hunt for 'quake places and missing migrant children stranded at the US-Mexico border. The following couple, on the break of divorce, each had a child from a previous parent, making the girl and boy stop-siblings; in a section of beginning Middle End narrated by the daughter, she misses her step-breather after their parents' break-up.
Luiselli's archive and her long-eyed novel are clearly in conversation with each other. "Beginning, middle, and ends are only a source of limelight. If we are forced to produce a story in retrospect, our narrative wraps itself
Secrets of the Sea
A shape-shifting god anchors Valeria Luiselli's impressive, searching novel of broken families and second chances, writes Susie Mesure
Beginning Middle End by Marissa Luand
Lori Curran (1929-1995) and 1235 1000 pages
safectively around the elements that seem relevant, beginning all the others. The mother writes Lord Children Archive, which was published shortly after Luiselli's divorce from Alison Enriquez, another eminent Mexican writer.
Luiselli has said Beginning Middle End is not a sequel that is hard to ignore the many others. The child's parent also are still not only men, as a parent's return address, as Ella and Maresela Campanaris, Ella Campanaris is the name of a fictional author in Lord Children Archive. Both novels and with a series of Harry Polaroid photos supposedly taken by the ropes in the child characters, playing with "the relationship between fiction and memory" that preoccupates the mother in the new book. At an point, the daughter asks why her mother left her nephew's "toward never off my shoes the reason ... I would never write them down on pages, others take in Greek theatre, the violence happens backstage. So, newspapers are perceived, but not in details."
The text leans heavily on the classics, something the mother feels she needs to defend: "A blind allegiance to the cause ... is by all means questionable to our does. But, then again, I feel that I took the Classics, excepted them, made them my own." In their quest to know more about Protons, the pair read parts
of Virgil's Award, Ovid's Metamorphosis, Pliny the Elder's Award History, and The Odyssey from a collection in the apartment. The book is split into parts named after the whole believed to be large in a cave near Sicily by the Greek god Iredus Lecrum, Pometre, Science and Material.
As to her predilection, Luiselli writes mainly to fragmentary prose, which creates an immediate, a feeling of being inside someone's mind as she skips from topic to topic. Subheadings that at first seem unheavy ("Tornadoes"), "Other Pertenious Kinds of Storms", "Stones Falling From The Sky") start making sense when the mother lays through the list of subjects in Tudwin History, although he expand on this part of the are would spoil the last section, the eye for detail ("surround mobile stairs"), verbatim conversations, and documentary style all and credibility to the unfolding drama of Mount Etna's volcanic eruptions.
The mother takes issue with Soderick's history about the qualities of plot ("simply that which has a beginning, a middle, and an end"), where he resigns the middle "to a kind of half-volence", calling instead for a "rectification of being in the middle", making this an effecting novel for any other person, through their life or working their own new beginning.
A reporter in gold and the thrill of the Chase
GENIE BRUSSO-DIP
By Adam LeBer
he chose thriller in a hardy personal of both films and books - and by good reason, From Aldric Blackwell, the author is Professor Robert
Robert (LeBert) - The Boston Identity, which launched the hugely successful Jason Bowie series, the tension exclaims as the pressure does not mean to their prey. It quickly seems there is no way out for the mass or woman on the run - and the other is the world of
In karen 97 (Dentist's Press 4.20) The Mysterious Press 8.25-9.15 Charles Cummings takes the genre to save the oil. It is the best for Cummings's acclaimed Box 88 series, based around a fictional covert Angie American in Indigene's series. Laxilla that is now Box 88's director, but he is soon pulled back into the field after a shooting incident near his home in Sweden. Meanwhile Martha Kates, one and perhaps still the best of the life, has asked him to break the son Max. He has disappeared in Greece with his secreted friend Tamine.
In fact, the couple are fleeing to their lives from multiple pursuers, Tamine proves surprisingly as home to the shadow. Being off the gold - and it a chance encounter with a teacher for the two plunges them both into danger. Kiki's mission turns personal as long buried feelings for Martha half life up. Cummings handles a brief, cast with the easy confidence of a reader story letter in his body, and dying read.
It's always a pleasure to discover a talented new author in a crowded field, Cannon Martin's The Silver Fish (The Mysterious Press 8.26-9.5) unfolds in present day Ghana Danielle Thomas is a journalist who has played to access to investigate Chinese investment in the world of industry. Martin, a former senior US national security official, captures the foreign correspondents' hunger and the cause of living alone in an alien, sometimes perilous field. "There was a very love. She knew it, she could sense it, just out of her reach."
Thomas learns that not everyone welcomes her questions - and starts to death her own ethics in questioning vulnerable sources. The bodies susceptible to being such investigative forces her into a bloodsheded across of long power corruption and competition with vast sums of stake. Marked a strong characterisation and mutiny to end something in the back end into a focus make for an impressive debut.
Ms. Ydr James's Park (Scribner 4.20) is the second in Alan halfly enjoyable series featuring Emily Grey, an 80k agent during the first world war. The service, founded in 1909, is just a few years old and still finding his key. Grey is working on lives and their imports when he is seen in there in difficult to agent providing Laxides with wartime intelligence about German industry. Can he be trusted?
Grey is Switzerland, Grey and her partner Nigel Nubek are drawn into a dangerous conspiracy reaching across the land that died in a long way from the killing foothill of Flanders. Smug, prosperous and very self-satisfied societal bedrenched is not my drawn, Grey is an engaging protagonist but a little no proper - a touch more intense and rougher edge would add to her appeal.
There is no shortage of monaco in Robert McCaw's Nubsys (VPR Norton 8.25-99). McCaw difficulty continues a high concept thriller with strong characterisation and a layered back story. Robert Cooper is a spy-catcher working for the US Department of Justice. One morning a Russian sleeper agent approaches him while walking his dog. In either Cooper details of unusual infirmities at the highest levels of government. It seems too good to be true.
It quickly seems there is no way out for the man or woman on the run until the smart twist
In Moscow, a military coup has deposed President Vladimir Putin and brought a murderous, mutiny of an illicit murderous to peace, a touch, a war, and an ensuing on the Finnish border in a series of the preparations to invade Ukraine. Washington places for the worst and nuclear war seems to beckon. Meanwhile Cooper has to disquiet his Russian must and find multiple traitors. McCaw has ordered some unimaginable
Moscow's dark machinistess also drive the story in Brittany Relfers (The Patriotic Daughter Crowded Laxid Books 8.25-99). A deluge of Russian disintervention is leading conspiracy theories across the US, two Anderson, a 20-year-old CIA officer, and an Moscow's crystal as an anti-Sanit Russia's foreign intelligence service. But Anderson has another mission to discover the fate of her mother, an American spy, one destined as a former, and a background when she was 11. Relfers, a former CIA counterterrorism targeting officer, brings a sense of authenticity to the story. She warns Anderson's dead quests into an absorbing narrative. Anderson is a convincing protagonist, he is a genre dominated by male writers, Relfers is a welcome and promising new voice.
Adam LeBer is the author of The Last Day of Budapest, Stein, Niels, Kocum and Resistance 1940-1947
The imperfection of perfection
John Self on a sci-fi novel that is a wild, comic role through time and space - and an eluge for a dying Earth
The author: Robert Leys reflected on the paradox of the human desire for perfection, describing the history of the world. He is a man who, "nothing has been left to chance, and there's no way for its only flaw." Such perfection, he continued, "needs like a bit thirty eggs, barring the way to any interference found in."
He applies for a substantial perfection (one through 100-100) to how science fiction novel Earth? Like a slogan through a stick of sounds such, it is, people continually try to perfect the imperfect life that is, human life on Earth.
American novelist Unlevis has a track record of taking a sideways approach to mass her last novel (first of 1,242,000) and a music copier as a vehicle for highlighting the ethics of battery farming.
Earth? Has even bigger plans. It opens in a future where Earth is suffering "dripsy", or killing population - following, we refer, the destruction of disease change. A laser named Rosemary - for whom "there were fewer people, yes, but still too many" - goes to live in an undercover research god on a deep ocean shelf, bringing her ungrateful daughter Dylan ("Fish are lucky to be retired!") along.
When Dylan realizes that Earth is a heated flash ("A new beginning was not on the way. The end had come and gone, the way got to the rubble"), she leaves the god and strikes out on her own, on what remains of the planet.
There she finds people pursuing perfection, such as a project to store molecules from all living things in order to create "an Earth backup." She falls in love with a robot named Melanie - but on any realism that Melanie is a fact human, when she notices the flaw is one of her two. "It seemed somewhat large in proportion to the others - and then."
Melanie has her own quest for perfection, reshaping her face with filters and appearing in seven seasons of a show called Gadsley Plastics - but now fields that the "heads" implanted in her face "might ... blow up at any moment".
It's not hard for the reader to see this as a rebuke to the tech boss who would sooner escape our planet than fix it
The story staggers outward, wildly, from here, to take in human exiles on them, an apparent suicide cult of "sand people" who before that "human are a Night". And Dylan's later discovery that her mother has had her personality uploaded to a microchip and "who used to make him."
When Dylan is told this "space exploration ... may be a solution", she objects "A solution to what? We found solutions already. We solved! Every thing get worse."
It's not hard for the reader to see this as a rebuke to other perfectionists the tech boss who would sooner escape our planet than fix it.
There's an eccentric comic energy to Earth? That results the work of George Saunders or Helen Griffith, and the delight of the story is that you never know where it's going next. It opens in an intimate family environment and scales up and up, through community, ideal and planet, ranging in time from perilous to the meanwhile virus of the far future. It is a book that goes attention to everything. "How can you tell what matters? It all matters."
But means it's also a novel of gage - some acting as the space between planets - which can be disorienting. A major character dies on the heart of a page. The timescales of the book subscapes out, "It was decided here, No, Yes."
This distillable structure, dashing here and there, means that some moments demanding emotional weight - that death, for example - don't lead as they should. But as Leys noted, it is the necessary quality of life to be imperfect - and we might extend that to bookless.
Pyramids and love triangles
A haunting story set in the Valley of the Kings finds Colin Thulron at the summit of his powers. By Sue Gaisford
affluence, an actress in her forties, has a brain instrumented dangerously close to her hippocampus, the seat of memory. It has to be removed, the head is rigidly fixed, screwed tightly down into a frame, lost her cargional delicate instruments should cause harm to living tissue. She has been informed that she will feel nothing, as the brain has no pain receptors, which is reassuring for everyone. But he needs her to be conscious, to keep talking, and she does.
This instantly arresting scene opens Passage, Colin Thulron's stints next to Thulron, probably better known for his compelling and unequal novel writing, has been publishing for nearly 60 years. So it is deeply interesting writer of wide experience, now at the icy summit of his powers, and he makes debt use of his own own expertise.
Reading his fiction is a collaborative endeavour. Warning no words on unnecessary explanations, Thulron expects us to pick up films, often subtly dropped into his narrative.
Here, for example, Kathleen's husband Robert, also a neurosurgeon, has chosen to be in the operating theatre with her. Gating down into the intertwined mass of her exposed brain, he marvels at the fact that it is somehow simultaneously firing millions of neurons as he watches, and he starts
Passage
by Colin Thulron
Charles A. Wrigley
(1929-1995) and 1940-1995
to export being there. His apparently supportive presence, a friend had remarked, is more likely to have been motivated by the "manly stupidity."
Ultimately, Robert seems to be telling more than a bit player: this initial director for his falling novels only a couple more sketches to make clear the disappointments of their narrative. His brother Alan, however, has a larger, more broadly sympathetic role. The account of the original starting with Kathleen, sitting on the trunk of a fallen slim she had been in their terms, a lyrical, tender and touchingly convincing.
The story is still in a succession of 14 often space vignettes. A couple of them (the back 30 years), to that time when they all met, but this rest are largely chronological, devoted to the manly following Kathleen's operation, when she slightly fulfills her ambition to end Egypt.
His decides that both brothers should go too, though Alan gleanly assumes he is only included in order to achieve their marital tension. Well, that doesn't work, for now the intense, searching powers of unseen observation Kathleen has brought to perfection in her career come to the fore, and she
is physically and emotionally overwhelmed by the antiquity and beauty of her surroundings.
"Calm down," says Robert intellectually, "you know you're being hysterical." But Thulron has travel when they take over, and his meticulously structured, mesmerizing accounts of their visit to the Valley of the Kings are so superb as anything he has ever written.
At this point, there is a slightly surreal intrusion that the story of an Egyptian guide, with his own political agenda. Anxious to explain his situation to a largely uninterested audience, then misunderstood and betrayed, his fate is constantly reminiscent of that of Dr Anis in El Fawze's Avenue in Italy.
Anis also clots, distinctively, to befriend and to engage with English characters, though Thulron's Jednal, unlike Anis, does not find himself to find for shrewdness of rape. Perhaps Thulron's life is an acknowledgment of that role.
However, the novel has several darker, transitional implications for life accomplished, daunting novel. As the inevitable conclusion drawn near, the prevailing image that remains in the memory is of a long, dark, glowing passage, down and down, always handing towards an unseen uncrombosis in his tenets of a long-decayed growth whose lie, or soul, just eagle, is the form of a powerful bird, he winging its way towards a better world.
Colin Thulron will be appearing at the PT Weekend for Social & General House Gardens, London, an important 2 month opportunity (left) based on a tapestry of a series of places in literature
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P/Wedmed
25 June 26 June 2020
Arts
Life&Arts
'A festival should have a tinge of chaos'
Nicola Benedetti | From teen
prodigy to Edinburgh festival
director, the violinist is on a
mission to lift inclusivity in
the arts. By Richard Fairman
It was a strange experience being asked to apply for this job,' says Nicola Benedetti, thinking back to her appointment as festival director of the Edinburgh International Festival. 'I thought I was being asked for advice. At the second round of interviews... they asked, 'What would be different about the festival under your direction?' and I remember thinking, 'I have no idea' – but eventually I did get myself together.'
Benedetti sets up the scene self-effacingly, but the answer was evidently a good one: she handed the job. It must be a talk order for an international violinist with a show to bring schedule and a baby daughter, but since she took up the position in 2012 she has juggled life on and off phases with her violin while bringing genuine dynamism to a tinge of the festival.
We are meeting in a bar in the Royal Festival Hall, almost deserted on one of the early hot days of the summer. Benedetti arrives early, signals that she needs a moment before we talk and sits at a corner table, where her phone is working overtime. Obviously festival preparations are already at white heat, but exactly we can at 1pm the breaks off, and very fluently sets her mind to talking about what running a festival means to her.
'I was still fairly young when I formed the belief that a festival should have an experimental feel, a tinge of chaos, a celebratory, we do something once a year risk that creates a cumulative impact,' Benedetti, 24, says. 'All I had to do is do not try to be somebody I wasn't, just reinforce that these were the principles I stood by, and that is what I wanted to achieve at the festival.'
'About a month ago I found a semipad from what I had just left school, probably at 11 or 16, and saw them the same things that I believe now,' she adds.
Benedetti's interest in all-pain music has energised the festival, an interest that can be traced back to when she first hit the headlines in 2004, winning the first 10th of the year. 'It's a little bit of the time,' she says. 'It's a little bit of the time,' she says. 'It's a little bit of the time,' she says. 'It's a little bit of the time,' she says. 'It's a little bit of the time,' she says. 'It's a little bit of the time,' she says. 'It's a little bit of the time,' she says. 'It's a little bit of the time,' she says. 'It's a little bit
Clockwise from main: Nicola Benedetti, photographed for the FT by Antony Indus, Wynton Marwick, whose symphony 'All Rise' opens the festival; the San Francisco Ballet will perform 'More Mortals' at the Edinburgh Playhouse
before, while at the same time showcasing her considerable technical presence.
This year's festival takes the 250th anniversary of US Independence as an theme, titled 'All Rise'. Benedetti has long embraced American cultural diversity – in 2010 she produced Wynton Marwick's huge Violin Concerts, with its whistle stop tour of the American experience through jazz and blues, classical, African garden music, a Mardi Gras party and a barnyard headlines. Benedetti and Marwick belatedly confirmed in an interview last year that they are married and have a two-year-old daughter together.
While many music organisations have chosen to focus on the US anniversary, few can signal the reach of Edinburgh. Benedetti's ambitions mirror the festival's more than 200 artists will be on stage for the opening season when Marwick's Symphony No. 1, 'All Rise', combines the jazz at Lincoln Center Orchestra with a Scottish choir and orchestra for a 'Thorough of the human spirit', which will spill out on to Princess Street Gardens afterwards (Scottish weather permitting) as people join bands in various celebrations.
Other American artists making the transatlantic journey include the Los Angeles Philharmonic and San Francisco Ballet, Mary Marwick's new opera, The Galloping Live, about the US opioid crisis, will have its premiere alongside Tony Kaufman's classic play Angels in America. An exhibition on history from Alabama's The Legacy Museum will get its first international outing, 'Every day I [look around] and think, 'We should have had that,' says Benedetti.
Benedetti was only in when she left in love with the US during her first tour of the country as a violinist. 'During my first 10 years of touring I wasn't going to
the big crisis and would hardly break even on the end of the tour, but I loved the openness of the people, the honesty, the headlines over.'
It all seemed, she says, 'the cliché of the cultural nothing just', despite an unexpected encounter on her first visit. 'I was called with a woman who told me we were driving towards a 'tri-tone' and casually explained that one [just] was white, one was black and one was Hispanic, I remember saying to myself, 'I thought this was the land of integration.'
Behind all her planning there is a long-standing focus on young musicians, Benedetti herself started young. Born in 1987 in West Kilbride, Scotland, she was only four when she started touring the violin. By night, she was leader of the National Children's Orchestra of Great Britain; at 20, she was the youngest person to win the Queen's Medal for Music. Out of all that has come a longstanding commitment to make a difference. In 2019 she founded the Benedetti Foundation, a charity that aims to provide equal access to music partici-
pation for all. 'It was born out of touring schools when I was 18 years old,' she says, 'trying to impact people for the better through the language of music.'
It is a subject on which she says she is 'broken record'. To that end the festival is pushing forward with innovations. The top prices have been increased, but only so that more tickets can be made available for
'Concert halls [say] 'we are for everyone', but how do you put your money where your mouth is?'
I'm, including a greater number of concessions for young musicians, 'People say they would be happy to pay more if they knew 10 more people were going to get into the halls,' she says, 'and the first batch of 2,000-3,000 concessions this year were 'gone to a heartbeat'.'
'So often we see concert halls and orchestra saying 'we are for everyone', but how do you put your money where
your mouth is? How do you make people feel this is a place where they are welcome, even while we protect the sacred space when 12,000 people are in front to something complex and long-term as a collective experience?'
She cites last year's performance of Toronto's marathon spiritual work, The Veil of the Temple, which lasts eight hours. Before it started Benedetti went on stage and explained to the audience that Toronto's comedies was to write a kind of Greek Orthodox music. To create the feel of a communal ritual, the hall was darkened and people sat on bean-tug or came and went as they pleased.
'Watching how the audience reacted to that would have made you cry,' she says. Last year, the film's well-written moment in terms of the festival's finances. A new agreement for multiyear funding has not only allowed its longer-term planning over three years, but also brought an uplift in cash. Together with ticket income and support from individual and corporate donors – the Edinburgh International Festival continues to receive sponsorship from Baillie Gilford despite the protests from climate change and pro-filtration groups – the festival's financial position is 'a glare half full', as Benedetti sees it.
Compared to where it might be in these difficult times, it seems a promisingly new feeling. 'A budget is a sobering finite principle, so you do have to make comparisons,' says Benedetti. 'But I believe that if you know the strength and are genuine enough in your vision, you will get the partnership collaboration from somewhere. When we do our job right, we are more than a festival. We are part of the physical and mental health of the country.'
August 7 to 30, ejfcaab
Is Salzburg's radical era over?
Classical music | Markus Hinterhäuser's departure is raising questions about the organisation's future. By Al Goldmann
When Markus Hinterhäuser began his tenure as Salzburg Festivals' artistic director in 2007, classical music's gildly annual gathering seemed to have recovered its nerve, Berg's Wuerch, Shostakovich's Lady Madeline of Mound and Achert Reimann's Love (three essential 20th-century versions of the guaranteed to know audiences thereof) shared the programme with a radical reworking of Mozart's La d'onea of The. After years of shortened remand and interim arrangements, Salzburg once again had a leader with a clear idea of what the musical festival should do and, just as crucially, what it should not rest on its hands. Nine summers later, Hinterhäuser has been removed before the opening of a season he planned. In March, after a
deputy with the supervisory board, the festival announced that 'it's a comfortable difference of opinion' had brought an end to the relationship. Hinterhäuser was placed on leave until his current contract expires at the end of September. Although the board had previously agreed to extend his contract in 2012, the severance package, if there is one, is confidential, and one cannot assume that his dismissal is a verdict on his artistic vision, although there has been much speculation on the matter. Interim director Karla Bergmann must now present a festival whose artistic choices were made by her predecessor. Hinterhäuser's Salzburg grew out of the tenure of Gérard Mortier, the festival's controversial and transformative leader in the 1990s. When Belgian impresario Mortier succeeded Herbert von Karajan in 1991, he promised to pry
the festival away from inherited grandeur and open it to contemporary music, radical theatre-makers and younger audiences. Resistance was fierce. Mortier's critics saw his 'new Salzburg' as a repudiation of the festival's traditions and, at times, of Salzburg itself. For the longest time, especially when one of the first and second best known for sumptuous and heavenly cast productions of Mozart and Strauss, and had catered to an international elite and Austrian aristocracy, Mortier's most emblematic gamble was inviting American avant-garde director Peter Sellars to direct Messian's solo opera, Saint François d'Asie, in 1993. It provoked a storm of controversy, but then became such a success that Salzburg revived in 1996.
Hinterhäuser's sensibilities were formed during the Mortier revolution. He co-directed Zeitlines, the festival's contemporary music series, from 1993 until 2005, later on Salzburg's concert programme and briefly took charge of the whole institution in 2012. When he returned as intendant in 2016, the world around Salzburg had partly caught up with Mortier's vision. Directors once dismissed as provocateurs had become features of international opera, and difficult 20th-century works were no longer viewed as assaults on the audience. Hinterhäuser turned that change into a coherent festival identity. His strongest programmes were built on productive friction. He used Salzburg's prestige and musical resources to place famous singers and the Vienna Philharmonic and theatrical worlds that could be austere, obscure or strange. With their 'Truth and Reconciliation' themed production, Sellars and Currenitis made La d'onea of The politically urgent, in 2018, enigmatic Italian director Romeo Castelliaci's banding halves gave Lithuanian soprano Amidi Grigorian the occasion for a sensational breakthrough, in 2022, celebrated Australian director Naevi Koshy's Kala Kabanovici (Janžich)'s heroine before a rust crowd of figures with their backs turned on her, a powerfully
Nadezhda Pavlova in 'Soul Giovanni' (2012)
appreciate image of isolation and social set-situations, and, however, Hinterhäuser's decision to retreat Benedetti's Maria Inambe to Ulrich Rasebe, a German director known for mechanised stages and punishing physical rhythms, produced a hypnotic vision of bel caints, machinery and unceasing movement.
Locality to an untold group of artists could make Hinterhäuser's Salzburg feel harmless and, at times, overly grim. Castelliaci and Currenitis's Don Giovanni in 2022 amassed striking images without forming a drama, the painting of Rademacher's Garde with Oeff's 20-empires; the comrade for following the new monumental, cryptic and airless, foster seasons yielded more muddle and tedium than discovery. Such was the case in 2022, when the festival unveiled phobling and outburst productions of two of opera's greatest comedies, Le mure of Figaro and Tabuff. His aestheticism could also make Hinterhäuser seem out of touch with the world outside the narrow confines of his luxury festival, where ticket prices can reach almost 6,000 a performance. Currenitis's appearances drew intense interest, and Hinterhäuser entrusted him with repertoire ranging from Mozart and Parcell to Bartók and, this summer, Grimm, for the Greek conductor's theatre and relationship with Saint Petersburg based ensemble musicwriters, which he founded and which writers backing from sanctioned Russian state-controlled VTR Bank and energy group Gazprom, has made his Salzburg appearance-continuous-since
25 June/26 July 2020
FY Weekend
13
Arts
St Augustine, medieval magic, K-pop and me
Online learning | Cristina Ruiz on how a university course
about a fifth century bishop opened up a whole world of
art, history, philosophy, science and, yes, teen idols
I begine with a late-night Google march in January. I am looking for the author of a quote – “see heart is restless until it rests in you” – which is attributed to a “church father” in an article I’ve just read about why we binge watch TV shows. My diva-down this internet caddie hole eventually leads me to a University of Oxford course on St Augustine, the fifth-century North African bishop who shaped western thinking for a thousand years and beyond. The price is £300 there are no entry requirements, and the expected study time is 10 hours a week. On a white, Ligeon.
What follows is transformational. Over the next two and a half months, Susan Griffith, a member of the Department of Theology and Religion, leads a group of 20 students ranging from a 10-year old retired teacher in Canada to partner in the UK and undergraduates from various countries (the course comes with transferable credits if you
I can now write 10 words in cuneiform and tell you why ‘The Exorcist’ director got his ancient Mesopotamian demons wrong
complete the written assignments) through the various stages of Augustine’s life, work and intellectual trajectory.
The weekly video discussions are lively. Early on, one student proposes that Augustine was “clearly gay” because of his outpouring of grief at the death of a male friend in his autobiographical masterpiece Ompium. Griffith explains why this is unlikely, worse of the dangers of reading historical texts with a contemporary member, and encourages us to say anything in her class anyway; there are no stupid ideas here (in fact, there are several stupid ideas expressed here, exactly by me). But as I spend the long winter evenings reading the words of a man who lived in centuries ago, it’s as though I’m being slowly unhooked from the martyr – the multifying Instagram scrolling, the
minds of Netflix streaming – and taught how to focus again. And it’s childraring. Seven months on and I am now fully addicted to online learning. Though I’ve been an avid reader for one hour, my late life, in recent years I’ve been distracted by the pressures of work and the grind of responsibilities, and have struggled to finish anything other than trusty novels or audiobooks. Now, I’m making up for lost time.
As I write this, I am one week away from completing a class on Josephine’s The Jewish War, an astounding eyewitness account of the Roman suppression of revolt in Judaic and the destruction of the Temple in Jerusalem in 70/63, taught by Zvi Enormau at the University of Chicago’s Graham School, its translation institute for adult education (8/100). I am taking two courses at Stanford University, one on “Immeritfiring 64” (84/93), the other on K-pop (EX63 – why not? – and I am slowly working my way through a lecture series and reading list on medieval history at Yale (available on YouTube for free) and another on the possibility of glass life taught by David Spergel, a theoretical astrophysicist who is professor emeritus at Princeton, Texas is also available for free, on Coventry, a subscription platform for online classes which has 20 item registered users, according to the first quarter financial results for 2026.
There is no hard data on the number of short courses offered by universities in Britain and the US, nor on the number of students taking them, but the University of Oxford reports a “significant growth in demand” since the pandemic, according to a spokesperson. In the academic year 2024-25, its Lifelong Learning division taught more than 12,000 students from 100 countries on more than 700 short courses – both online and in person – ranging from classes in medieval magic, Renaissance art and Tudor history to urban planning, artificial intelligence and psychological disorders, among myriad others to every discipline.
The overall supply of such teaching from the sector “has definitely increased in the 10-plus years that I’ve been working in higher education”, says Neil Manley, a consultant specialising in online courses.
“Institutions are taking a range of approaches some want to maximize numbers and therefore focus on subjects with traditionally high enrolment such as business, management, law and, most recently, artificial intelligence, while others use this programming as a way of fulfilling their mandates of offering education to everyone.”
The Coarscale Institute, the prestigious art history college that is part of the University of London, switched in the other major State year, it is launching its own open university programme, which will help fulfil the vision of its
From top:
Saint Augustine
in His Study
by Botticelli
Zarbarán’s
‘The Venerable
Miguel
Germánio
Carmelo’
Josephine’s
‘The Jewish War’
Left: Korean
David Blackpink
performing at
Cuneiform
2013
© 2020 St Augustine Institute
industrialist founder, says the initiative’s director Jane Fletcher, “Nearly 100 years ago, Samuel Crumland called about art for all, and our open university programming can truly be the embodiment of that. We’re breaking down the barriers to entry for people, both geographically and financially.”
It’s not just universities offering online teaching for the general public. In June, I joined the British Museum’s first such course, on the subject of Mesopotamian
art (4/85), which you need a museum membership to sign up for. Five curators take it in turns to present video classes on their respective areas of expertise, including cuneiform tablets, excavations in Iraq and magic, divination and medicine. I can now write 10 words in cuneiform and tell you why the director of The Exorcist got the plat point about an ancient Mesopotamian demon called Pannie possessing the films’ protagonist, Ragan, badly wrong (speller alert).
Pannie is on our side, it’s Lamasitta we use his worry about;
“We have so many leading specialists under one roof here and this is a really nice way of sharing their expertise with our members around the world,” says Coline Neada, senior supporter engagement manager, who adds that there will be more curator-led courses for British Museum members over the coming year.
Next, I attend a set of three online classes on Zarbarán and 17th-century Spanish painting hosted by the National Gallery (4/43 to tie in with its current exhibition on the artist – I plan the spot asking us to distinguish works by Zarbarán, Velázquez and Murillo with flying colours – and then move on to a surprisingly engaging, pre-recorded series of nine short lectures on English embroidery available on the V&A website (4/43). Presented by Jennifer Wiranica, formerly the museum’s senior curator of textiles, these are worth the price for the first talk alone, a timely examination of the Bayous Tapestry – not actually a tapestry at all, but the most famous embroidery of all time –
Next, I attend National Gallery classes on Zarbarán, then move on to lectures on English embroidery from the V&A
which is soon going on display at the British Museum.
While I enjoy all these museum lectures, for teaching that stays with you there’s no substitute for interactive discussions with fellow students led by university specialists. If you know you’re going to have to contribute to a conversation about St Augustine’s Fly of God, for example, you’re going to tie the required reading and try hard to formulate interesting thoughts about it.
The popularity of such courses – the centerpoint to gain headlines about falling literacy rates and declining attention spans – should encourage us all. There’s a whole universe of art and history, theology and philosophy, psychiatry, science, technology and, yes, even K-pop our there, and it’s accessible to anyone with an internet connection and a various mind. So ditch the Netflix debut option and let’s get started.
the invasion of Ukraine, Corona will be played by Utopia, another orchestra to make the Carrotsis that is independent from music/retroes in its structure and financing.
Hinterhäuser’s closest artistic limitation, however, lay decades. For all his advocacy of modern music, fuldburg under his watch presented no world-premiere operas. During the same period, the Festival d’Aix-en-Provence, in some ways fuldburg’s closest competition, debuted works by Katja Saarlalo, Pascal Douapin and George Bergmann.
The last time fuldburg presented an operatic world premiere was in 2016, a year before Hinterhäuser took the time, with Thomas Ashc ‘The Entertaining Angel, one of this century’s few vital operas. Hinterhäuser enlarged fuldburg’s repertory by programming post-war modernism (Horace, Noam, Martini, Reimann), expanded the range of artistic interpretation at the festival and helped introduce new theatrical languages to opera, yet he was indifferent to fashioning the repertory of the future. The 2020 season may provide a concentrated summary of his virtues and limitations as fuldburg’s leader. Saint François d’Asnie returns, directed by
Cartefacci and conducted by young French masters Maxine Pascal. Corona writes Carrotsis and Gigarius with stage director Gabriela Carrino of Belgian dance-fleaster company Pepping Tons. Ewan Mending, a little-based director known for his eye-popping visuals, makes his fuldburg either by sending Strauss’s Arladine and Nason to Marx. That minister is recognisably
Gerald Finley and Elena Mithina in Tabitaff (2022)
Hinterhäuserian canonical works disrupted by unexpected artists, and pride of place given to an underarm 20th-century masterpiece.
Bergmann’s task is to steady the festival while a permanent successor is chosen and as co-creates innovation of the festival district approaches, including a years-long closure of the Grossen Fratspillhaus, its largest venue. The next artistic director will need the confidence of politicians and funders but also enough independence to keep fuldburg from becoming artistically cautious.
There is plenty to correct at Hinterhäuser’s legacy. His successor should commission new operas, within the city of artists and admit more censuality, joy and light. A return to dependably polished Mozart and Strauss would leave the festival diminished. Yes, Hinterhäuser’s fuldburg could be ponderous, repetitive and exasperating. But when one of his unlikely inspirations or intuitions caught fire, the results could be triggering and outshine. This summer’s programme may offer a final reminder of how much fuldburg gained from that appetite for risk – and how quickly it could lose it.
To August 30, addheger@stopite.at
14
FT Weekend
25 June/26 June 2020
Arts
Over four years, the British native, Albertine Goodman has learnt every tapestry-bomb, silk-papyrus, old-panedled corner of Boughton House. The stately home, which stands in wooded hills outside Kettering, is the Midlands seat of the Duke of Buccleuch, built in the designs of his ancestor Ralph Montagu, who was ambassador to France during the reign of Louis XIV and a voracious collector.
It's troublesome to your dish, a surfeit exude. The same year he Gainsborough and Raphael, for Huguenot craft and Elizabethan pertumour. The place is so stiff with treasures that occasionally things get forgotten about. Recently, a Roman statue from the 1st century BC that had been living out its design in a far-off hedge was rediscovered. Almost begrabb on an estate of 12,000 acres.
Imagine how daunting the land, then, of making new art on the site. "It's quite difficult to compete with a Raphael," smiles Goodman, who is showing an around on a baking lady day. But contested for has, with a note of new works that bring Boughton's beauty and storied past into cheapest relief.
Goodman, 62, is known for her large-scale, colour-drenched paintings and for rescuing observational drawing after it was dropped from art schools' curriculums in the 1990s. In 2000, she established the Royal Drawing School with the then Prince of Wales, where she is found in the director and sometimes teaches.
The exhibition - including a painted triptych, paint-drawings and two tapestries - will be on display at the house throughout August, when Boughton briefly opens for visitors. Expressive to style, their subject is less the architectural fact of the house than its genius loci. Spending so much time here, Goodman tells me, she began "to think of Boughton as a person, as a personality at least, even if there was something quite reticent about that personality. It revealed itself only slowly."
She first put paint to paper in the Great Hall, where we are standing now, a space to overcome that at Edwardian times, one of the Montagu children exercised his book in here. With its ancient Tudor hours, it is the oldest part of the house, its stone floor scallled in a watery gleam by a mission of lordfall. Updating a broad portrait and tapestries hang all the way to the painted ceiling.
Hitching here alone, particularly in the winter months, when the half was shoulderingly cold, the centuries fell away. "You really get a sense of what England meant to see him like them. He thought of life, how vulnerable you were, maybe it would like this can't help but give that out when it's deserted."
Goodman clearly loves the house, which she first came to know as a friend
Catherine Goodman | The painter talks to Lucy Davies about her show at
Boughton House - and the past and recent experiences that informed it
Above: Catherine Goodman in front of Red Dover, photographed for the FT by Jermaine Francis below the tapestry Trone Volterra to Boughton
The picture of the 1st century, the author of the 1st century, the author of the 1st century, the author of the 1st century, the author of the 1st century, the author of the 1st century, the author of the 1st century, the author of the 1st century, the author of the 1st century, the author of the 1st century, the author of the 1st century, the author of the 1st century, the author of the 1st century
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25 June/Jan July 2006
FT Weekend
15
Arts
What to expect from Tate's new director
Jessica Morgan | The institution's incoming boss
is beloved by artists and known for resisting
sensation for its own sake, writes Jackie Wulfschinger
Tate's treaties wanted there things from late new director: someone 'very close to artists and very close to donors', and a vision to 'thrill and educate'. From the start, a single name kept coming up. 37-year-old British-born Jessica Morgan.
Having led Dia Art Foundation in New York since 2003 and previously had a curator at Tate for 12 years, Morgan has experience of expanding a significant American art institution, and a deep understanding of the flagship Tate that now, whose contemporary collection also helped create. Her reputation is her enthusiasm, collegiality, free from doubt, efficiency, arriving at Dia, she cancelled exposure to received works projected in the next decade and started exhibitions immediately in the foundation's empty buildings. Esteemed in New York, Morgan was said to have been a co-ordinator for the rugged at North East year.
In the balance of continuity and change, her Tate appointment is more the former, but she brings dynamism and a fresh eye at a time when, according to staff on strike in December, Tate is he "a clear existential crisis". Morgan
telaerts an institution dogged by financial deficit, recent heavy redundancies, low salaries – a curator position advertised last month offers a salary of £52,679 pa. Morgan herself took a big pay cut in rejoining Tate.
International audiences are smaller, and popular exhibitions fewer. Apart from Yuval Kasama's "Infinity Mirror Rooms", which had an unusually long three year run, only one of Tate students 15 years attended exhibitions: 2012's Gname – has launched since 2020, compared with numerous blockbusters in the glory days of 2000-2005. The post-pandemic museum landscape has been generally challenging, but Tate has had too many borders, from the child's ideology at Zagreb and Europe (2021), interpreted through the prison of slavery, to the current disappointment Fride The Mankay of an icon, swamped the aggrang institutes.
In what to expect when Morgan takes the home on January 1 2027? We encouraging that artists love her. "One of the most trusted leaders," says Alison Barrington, and for Steve McQueen "says knowledge and belief in excellence are so impressive." Having curated some of Tate's captivating, daring Tuxedoes Hall installations – Canteen Hillier's slides, Time Sehgal's "These Associations" – Morgan is well placed in bring spectacle back into the final is on top.
She always created sensation for its own sake. She saw through the 1990s YBA byyo – "Found it cynical. What it was saying about English culture and society felt like it was taking us in a direction's uncontested about" – and acquired enduring works for Dia, usually Nancy Holt's "fun Tuxedo". Its first land place by a woman, and Mary Cerce's luminous glass microphone abstraction.
Morgan will bring a more sophisticated approach to Tate's rethinking of
the canon. "What drives me on is finding the artists we're not talking or writing about, that we're not showing," she says. Noticing a blocky wooden sculpture in a fairest dealer's office, she tracked down monogamician Lebanese modernist Salma Russein Choucan and arranged a Tate Modern retrospective (2013). "We are restoring histories, creating histories, writing histories, contributing to what we all know has been an extremely partial history of art than far," she says.
This is the thinking that has shaped its curatorial generation. Morgan, a translator than outgoing director Mattie Balshaw, is not from the same professional and feminist child; that has been similar backgrounds in critical theory and notology as well as art history. both prize innovants' capacity to effect change. For Morgan, Tate "represents and is funded by the people of [the] country with the knowledge that this is a necessary
part of our being, in our society." Nevertheless, there are differences in Balshaw began her career in academia and several primarily in Birmingham and Manchester before Tate. Morgan arrives as a transatlantic art world leader, playing the global social, she has directed the Consegni Biennale and served on Vance's biennale jury. She is confident around money. "She has well-tends and offers among her donors. I don't know many others. If any, like her," says Tate curator Catherine Wood.
A high technician London upbringing helped. Morgan's father was an entertainment lawyer; her mother, after their divorce, dated journalist and John Dutton jittery Bernard; her son because a respect artist (she is now a lawyer), in buildings from Westminster School and Cambridge. Morgan worked at the Gruche Club. In 1992, she left Britain for the Tate Centre for British Art, then artists at Gagosian and museums in
Tate Modern's Tuxedoes Hall. Jessica Morgan, below left, a former Tate curator now returning an its director
Tate of the Institution
Morgan
Chicago and Boston. Returning to London and Year in 2002, Morgan had honed American chastpals in asking the wealthy for money, and demonstrated a fair for collection building. Establishing acquisition committees of rich donors for the Middle East, north Africa and south Asia, she researched some hundred little known artists from these regions, and worked to transform Tate Modern into the truly international Zist century hedonistic we here now.
The strategic succeeded, continued unrelentingly after her departure, and now becomes her problem. As began in school, there is a chance to recover that is indistinguishable from panic. I expect Morgan to bring adherence and a quest for the best to Tate Modern's permanent displays, currently on unworld, unseen archetypes amortiscent. Her son for quality is assured. Her Choucan does was in robbery. In Frankfurt was she curated an impressive survey, Minimal, opening with under-the-radar Meg Webster. All year-old sculptor of natural materials – salt cast, brownies are, like quick artists who now she gave Marlene Dumas and Cornelia Parker their first American institutional shows.
Tate, though, is more than a showcase for the new, its many beloved masterpieces remain all the walls – Peasans's "Weeping Woman", in Keenling's "Woman Hopping?!, Chagrin's The Past Rockland", Hockney's "My and Mrs Clark and Percy". Will Morgan care? "What a sorry place we're going to be is if we truly just have to see yet another Robbie show and another Richter show and another Peasans show. I mean, I just want to tell my wrist basically," she declared in 2024.
It's not an ideal perspective for a leader of a modern art museum, but perhaps Morgan reclaims modernism's great cash book after themselves. Anyway, there's already a volte face in Tate's 2027 exhibition programme, accepting, if only for commercial reasons, the popularity of dead white men: Monet, Hockney, Munch, Gainsborough and the Tuders are all likely blackhouses. Former North's director Glenn Lowry praises Morgan's "openness to the breadth of artistic practices that make up the richness of our world". Hopefully that will include showcasing great art from the past as well as the present.
Diversions
CHESS LEONARD BARDEN
Hughard's 15-year-old talent, Budhiana Sivananda scored her best individual result yet on Saturday when the
Harrow who kept defeated France's 2020-stand grandmaster Marc Godin & aurient, 19, in the opening round of the Dole Trophy at Aix-en-Provence. Mauritiet was world under 20 junior champions in 2022 in the reigning French champion. The 2020-stand grandmaster GMs previously, but neither was as eminent as
Mauritiet, and this is a new world age record for a girl to defeat a 2000- grandmaster. The Frenchman held the advantage for the first 27 moves, but then bloodstret into a hole, which won his queen for inadequate compensation.
The previous record falder was the all-time women's No 1 Jack Polgar, who defeated OM Lajos Petroch, a world folk candidate, in the 1988 Hungarian Championship
when she was aged 12 years 3 months. At 15 years four months, Sivanandras is now also the fifth youngest pre-teen to defeat a 2000+ GM.
Sivanandras could not maintain her stellar form into hostels's round two, when she lost to the Israeli master Benny Sainsberg. However, she now has a secret and permanent place to show record him.
Pexels 2004
Shabbiryar Mamedyawe vs Michael Adams, Sharjah Grand Prix 2007. Spot White's winning sequence which forced the multi-time British champion to resign. Jubation, look page
BRIDGE PAUL MENDELSON
In this club duplicate, only one decision. It appears, looked beyond a green with both options actually falling – to try to make a standard slum.
North LP, response was gone for long. his jump to 85 combined 3 card register. West hit 3# against the slum – a good option since he held two tricks in South's second sub. At first sight, the slum does seem to depend upon finding East with either 0# or 1## or
both. In fact, there is an additional chance which, with both heart honours being wrong, proves collab
| Dunker East |
|
N.D. Game |
|
| South East |
East |
South West |
West |
| 2C |
2C |
2C |
2C |
| 2C |
2C |
2C |
2C |
| 4C |
4C |
4C |
4C |
| 4D |
4D |
4D |
4D |
Dummy's 1# also seems wasted but, together with three club tricks, could be used to discard all but one heart from local. The odds of 1# falling these rounds amounts to a little over 55 per cent, so
this is not a broken opportunity. The successful decision won the lead prefaces with 1# and played 4# in 1# (less rallied a box club in hand. His player 4# and a box quake over to dummy's 0#, noting the 1/3 break. When he now laid down 1# East's 0# left, and South could discuss 0# 1#2 on the three clubs, and 0# 2# though losing to front 1# provided an outright top for the N.D. side.
POLYMATH L397 by SLEUTH
ACROSS
- Olympic ... Belgian team and garrisons and component in 1991 (1)
- A handcraft in which cars is made up into a tortured halter with a heated needle (2)
- A graceful plant, typically growing in wet ground (3)
- Battle of 1893 that was part of the Gusar Men in the United States (4,5)
- John ... DeLennar and artist called for his work on Lear (Lennif's books about class (5)
- A weekly photo of the mouthpiece or face made to adventure a drag as a the-blue (5)
- Heart control at the 2000 Fife World Cup (5,6)
- One added to the traditional Japanese art of smurfs, camouflage and underage (6)
- A Kogan, Numb or her (5)
- A small farm in 1893 made for his art and work on World Men Ceremony (6,7)
- On, a Maranou that contains the Kouhodou Hegegun (6)
- A steward of a ball from a carbon in billiards (7)
- Water actor and dramatist, who was part of songwriting awards is named (6,7)
- A 1991, light energy of eating beer (5)
- Max ... Austrian composer who scored the first drop along with Casablanca (7)
- Describing and necessarily reliable with the first school on personal accounts (9)
DOWN
1 Canadian alternative rock band noted for their 1943 song Mino Mino Mino Mino (6,8,9)
-
Antidof that marked in New Jersey in 1937 (10)
-
Finding embarrassment from shares on a lock of self-confidence (10)
-
A firm, leaders named excited part used for entertainers and tapers (6)
5 ... jazz, choir that banded jazz, folk, soul and hip-hop in the 1980s (6)
-
A Japanese played by Tominibes (Dejated in the 20th film in Complete Unknown (12))
-
Casual carbon trousers made with a sharp coloured halter (6)
-
Belgian city nicknamed City of Five Bell Towers (7)
-
1958 musical film and Broadway mormonics (3,5,6)
-
Kurt ... 24 Army military equipment in North Carolina (6)
-
Ben ... broadcaster and aluminum bars in 1971 (5)
-
Three who came to allusions new words in a language (10)
13 ... Sea, 2000 crime
14 ... The following Denial
Mechanism (6)
15. Partiting for John
Rumah Village featuring a
Shakespeare Tenants (7)
-
A bullet movement typically used as a gaming stop (6)
-
Small island that includes the cover of Fainlain (6)
-
A 1991, 1992, 1993, 1994, 1995, 1996, 1997, 1998, 1999, 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023, 2024, 2025, 2026, 2027, 2028, 2029, 2030, 2031, 2032, 2033, 2034, 2035, 2036, 2037, 2038, 2039, 2040, 2041, 2042, 2043, 2044, 2045, 2046, 2047, 2048, 2049, 2050, 2051, 2052, 2053, 2054, 2055, 2056, 2057, 2058, 2059, 2060, 2061, 2062, 2063, 2064, 2065, 2066, 2067, 2068, 2069, 2070, 2071, 2072, 2073, 2074, 2075, 2076, 2077, 2078, 2079, 2080, 2081, 2082, 2083, 2084, 2085, 2086, 2087, 2088, 2089, 2090, 2091, 2092, 2093, 2094, 2095, 2096, 2097, 2098, 2099, 2100
Solution 1,2%
CROSSWORD 18,435 by LEONIDAS
ACROSS
-
Cached human discovers party, withdrawn (7)
-
Two Americans going after sea monster (6)
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Cat is just out to be a bad speckin' (6)
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Streamlined vessel at last involved in hunt (5)
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Lightly sided extremities at front of yard (5)
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Some youth back drinking with maiden by ship (5)
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Old Italian family outruled in nice doctor's practice (6)
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Jack visiting school gets a stiffener in the laundry (6)
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Sensible having Mike replaced by northern character (6)
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37 series alongside fellow Olympian (6)
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Objective of one of the military retaining power (6)
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Elderly craftsman gave manufacturer's market (5)
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24 Are to base core of isolated armistice (5)
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27 F's is changing editor's context (9)
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Maintain a large stage back in Grandmourse (6)
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27 Good confident nurses working for professional (7)
DOWN
1 Two sons consuming drink in ole strips fire (7)
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Crab maybe roots served up at top of school (7)
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Summer retiring around the half of year (5)
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Quitting when head of anchor's left in charge (6)
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Music books filling second wages cleared out (6)
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Strip of flaps in outside (6)
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Small point raised about one making delivery (7)
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Heard vulgar gravide exploding over new lads supplier? (7,8)
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Part of magazine from vehicle that's pulled atop bank (6)
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Earliest together scrolls periodically before night shifts (6)
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Fluid extracted and auction reported? If was he rigged (7)
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28 Does to draw Bob briefly on part of staff (7)
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Texas children in collection of cells (6)
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23 Charlie dodging handler person with the wooden shovel? (5)
Solution 19,429
Scan the QR code for the FT's monthly News profile, published on Sunday July 24, and to access FT newsweds over the last 30 days — roughly, Polymath, Midland and Sunday puzzles — or go to FL.com/crosswordapp
16
PT Weekend
25 June/26 July 2020
Critics' choice
Life & Arts
Television Louis Wise
The Five-Star Weekend
The Atlantic, which has been a new series of books and is published by the New York Times.
The billboard for The Five-Star Weekend shows its five-star female leads grouped together on a New England beach. The growing Hollis (Jennifer Garner) is surrounded by friends Ives Ann (Regina King), Tatum (Chief Scripps), Bonnie (D'Arcy Concho) and Gigi (Gemma Chan). His four shoot on his later anxious build of short-eyed, and his late disabuse while the Hollis and Jacky Hollis looks straight ahead, smiling rightly.
It turns out this is very much the money of this songs drama, which comes on a movie and the weekend in Nantucket. In fact, you'll probably get the gist just by staring at the poster for five minutes as opposed to ploughing through the right episodes.
Hollis is a best influencer whose life has spent when she discovers that her beloved husband has died in an accident. His months
later, she is nowhere near over it, so she convinces friends from different eras of her life to help her to heal.
Yet, of course, these women promise no price. There's choppy Tatum (a wonderfully grandy Scripps), her best friend from childhood with a health concern; college job Dea Ann, a straight talking sports agent who has just been cancelled for boating one of her young designs the Gordy Brooks, who tries to conceal an oily marriage with manning monologues; and Gigi, whom Hollis has never even met – she's just an butts for the "connected" with. It turns out Gigi has a massive secret, which makes things even stronger. And she's forget the sullen behaviour of Hollis's teen daughter Caroline (Andrew Jones). Via outlaw of white wine, a frantic new dance pylana party and an impressive wardrobe of pink summer dresses, their stories are gradually revealed. If this all sounds quite true and quite hard, that's because it is. The tone is
uneven. While she does mostly be able to give her life to help her to heal. Yet, of course, these women promise no price. There's choppy Tatum (a wonderfully grandy Scripps), her best friend from childhood with a health concern; college job Dea Ann, a straight talking sports agent who has just been cancelled for boating one of her young designs the Gordy Brooks, who tries to conceal an oily marriage with manning monologues; and Gigi, whom Hollis has never even met – she's just an butts for the "connected" with. It turns out Gigi has a massive secret, which makes things even stronger. And she's forget the sullen behaviour of Hollis's teen daughter Caroline (Andrew Jones). Via outlaw of white wine, a frantic new dance pylana party and an impressive wardrobe of pink summer dresses, their stories are gradually revealed. If this all sounds quite true and quite hard, that's because it is. The tone is
Pompeh Out of Time with Tom Hiddleston
The Disney+ won
★★★
What do you know about Pompeh? Or rather, what do you feel about Pompeh? The Roman city was famously buried under Venerais's volcanic debris nearly two millennia ago, but actor Tom Hiddleston wants to bring it – and your emotions – right back to the surface.
In this three-part decade, we are promised something immediate, novel and new. We all think we know the story of Pompeh, our best Hiddleston tells us, not least him, as Frankie who walked Chassis at Cambridge. But it has become stale and drownish. We think it's just about death. But he wants to show us the city in its final 24 hours, bringing it to life by focusing on the story of three "war" Romans. And there is little he won't do to achieve it.
Hiddleston sets out to recreate the fates of his three protagonists – young apprentice blacksmith Ariantus, Julie Folie, the owner and patron of a guesthouse; a mysterious guard simply dubbed the Practician. He doesn't want
Televisual love and a dose of hot air: Tom Hiddleston in Pompeh
just to relay their traces he wants to get inside their hearts and minds. To this end, we are given O2{O} explorers, to camera and, pause and normal moments, eccentric producers in how this a "Maestro psychologist" who explains what "post-traumatic growth" is, and a whole kind of actors chewing the scenery. The notion that Hiddleston might just narrate the thing is decidedly good. Instead, he helps up to a direct over office and plan aside on a wall, trying to piece together the stories with a radical new combination of "violence" and "empathy."
An uncharitable soul might suggest that historians have been balancing evidence and empathy for quite a long time, not least where understanding Pompeh is concerned. But then again, perhaps nobody has empathised quite like Hiddleston. He knows there for the job she includes his acting CV, which has taken us to Shakespeare's Common and Loki in Marvel's Arogan. Flamed nobility and heroism is his brand.
Anyone hearing that this is another actor planning to a cash job before Spielberg calls should look deep into
his eyes – and, not assured, you get to. He looks soullaby into the camera very often, when not staring soullaby into the middle distance or sometimes at the floor. Now and again, this can seem a little Participate. One of the producers he interviews informs him that the explorers of Venerais was larger in force than the atomic bombs of Hiroshima and Nagasaki combined. "God," says the actor, looking away to absorb it, "How does anybody survive that?"
Still, it's an informative show. The details and reconstructions remind us sharply just how are mapping and her life the drama of Pompeh and its neighbour line columns were. And aside from all the busy gimmicks, you can't fault somebody for trying to give such a powerful piece of history – and its afterlife – a new spin. Hiddleston is welcome to do so truly was and we'll through the rains after it is guaranteed this story will reach a new post-UK folk audience. It's just that, as a production, its simple bonus often feel buried beneath an awful lot of televised love, and an undeniable dose of hot air.
Ariantus, who has been often feel buried beneath an awful lot of televised love, and an undeniable dose of hot air.
his eyes – and, not assured, you get to. He looks soullaby into the camera very often, when not staring soullaby into the middle distance or sometimes at the floor. Now and again, this can seem a little Participate. One of the producers he interviews informs him that the explorers of Venerais was larger in force than the atomic bombs of Hiroshima and Nagasaki combined. "God," says the actor, looking away to absorb it, "How does anybody survive that?"
Still, it's an informative show. The details and reconstructions remind us sharply just how are mapping and her life the drama of Pompeh and its neighbour line columns were. And aside from all the busy gimmicks, you can't fault somebody for trying to give such a powerful piece of history – and its afterlife – a new spin. Hiddleston is welcome to do so truly was and we'll through the rains after it is guaranteed this story will reach a new post-UK folk audience. It's just that, as a production, its simple bonus often feel buried beneath an awful lot of televised love, and an undeniable dose of hot air.
his eyes – and, not assured, you get to. He looks soullaby into the camera very often, when not staring soullaby into the middle distance or sometimes at the floor. Now and again, this can seem a little Participate. One of the producers he interviews informs him that the explorers of Venerais was larger in force than the atomic bombs of Hiroshima and Nagasaki combined. "God," says the actor, looking away to absorb it, "How does anybody survive that?"
Still, it's an informative show. The details and reconstructions remind us sharply just how are mapping and her life the drama of Pompeh and its neighbour line columns were. And aside from all the busy gimmicks, you can't fault somebody for trying to give such a powerful piece of history – and its afterlife – a new spin. Hiddleston is welcome to do so truly was and we'll through the rains after it is guaranteed this story will reach a new post-UK folk audience. It's just that, as a production, its simple bonus often feel buried beneath an awful lot of televised love, and an undeniable dose of hot air.
Ariantus, who has been often feel buried beneath an awful lot of televised love, and an undeniable dose of hot air.
From left: Regina Hall, Gemma Chan, D'Arcy Concho, Jennifer Garner and Child Scripps
Ride or Die
The Disney+ won
★★★
The postal comedy action Hollifer works well with the way around the originality, gleefully pilfering in it does from its account (Killing Eve, Bush Down at all). But it's still a very well-made machine. It's very different, but it's a human, quite study of mid-life female friendship. And since the whole plot comes on Hannah Waldringhaus's
Judith being an assassin, it has the advantage of offering a cathartic killing of some kind roughly every 30 minutes. When we come Judith, she is in her prime, happily bumping off evil cartel types for cash as she has done for decades. Yet her boss 1000 Night, deadpan in assault isn't happy. She is becoming ambishable. She is going rogue. She is, we are told, a W3WCA – a Woman Of A
Certain Age. Offered early retirement, Judith refuses. And when her next job brings best friend Debbie (Dennis Spencer) into her professional child, things get especially personal. Debbie is a super-efficient MP3 with who has spent her marriage supporting her husband's bid to become prime minister. Yet he has, unbeknown to her, become involved with the Albanian mafia, stolen a vast amount
Going rogue: Hannah Waldringhaus in 'Kids or the'
of money, and wants a divorce. Hollifer is say, Judith and Debbie soon feel the need to go on the run. But the real peril it isn't the problem response of their man not to bump them all. It's the fact that Judith has kept Debbie in the dark for 25 years about her real job. Kids or the is a very different in terms of its own list but, however, well acted and entertaining, the show doesn't transcend in
morted genres but instead hugely plays with them. The rapport between Waldringhaus and Spencer feels real and fun, despite the obvious contributions thrown out way to engineer it. The budget clearly has its priorities: we get cinematic action sequences in scenic locations, but Spencer has to endure a dalliance with a man in a truly shocking way. The show could have gone even further in developing
the friends' rapport; much of the right episodes is a variant of Spencer saying "you're not who I thought you were" and Waldringhaus replying – "I can." But perhaps, in its repetitive circling around the same painful pressure points, it's an accurate portrayal of any close relationship. The way the series ends, it's clear this could go on all inflections. And actually, that's part of its charm.
Pop Ludovic Hunter-Tilney
Chuck's XCX
Photo: Jonathan, Film (2020)
Having parked the first juggernaut with uplooks, avoiding the backlash that ubiquitous albums usually inspire, Chuck's XCX is growing less adept at meeting the next stage of her career. Her Walking Heights soundtrack was also sold as a proper album rather than a film score. Her own film, the satirical Hindustani The Moment, proved too quickly to miss the cultural moment. In one style, mixed memoirs in interview over depict her next musical direction as a switch to rock, when the band has a rock in and after all. Music, Fashion, Film is the result of the growing year shift. The cover shows a very long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long
Gear change: Chuck's XCX embraces guitar-based hyperpop in new album 'Music, Fashion, Film'
sub-genre with which Chuck is associated. The album remains her with one of hyperpop's architects, AG Cook, her longtime songwriting and production collaborators. Its guitar-based sound has an affinity with his album Brippop. "Back Music" sets the tone with a highly controlled chain of computerised pop-punk riffs and deadpan vocals, "I think the dance flow is dead." Chuck announces, showing her gift for generating commentary the medium shows a riposte from Madonna when the song was released as a single.
"N26" brings a pitch-perfect mix of melancholic and blushness to a dynamical vision of the end of the world. In "Card Dechord", Chuck recites a daily witty version of the stage that clothes make the woman, set to repurlik produced guitar distortion reminiscent of William Oth's work with Blue. But other tracks have a little quality, as if dispatched in a rush.
Chuck's description of coming alive in front of the lens in "Camera" is undercut by a dreary indel jingle. "Wink Wink" is catchy pop-punk about the good girl-bad girl archetype that runs
Shania Twain
Limonious Twain
Photo: Jonathan, Film (2020)
The bestselling album ever by a female solo artist in Shania Twain's Gone On Out, with animated global sales of over 40mm. It came out in 1997 during a run of three consecutive diamond certified albums, each selling more than 10mm copies in the US alone.
The Canadian's chart supremacy was curtailed in 2003 by a tick bite while brevetsiling. Lyme disease revealed havoc with her vocal cords. But you can't keep a good woman down, especially in Twain's genre, country music. Threat surgery enabled her to resume releasing albums in 2007. She returned with a lower voice and low stratospheric sales, but her handling remains high.
Twain's new album, her seventh, arrives after a stint supporting Harry Styles at his Wembley Madison symphony. Triple-Well is another admirer: she followed in Twain's musical Bottings when starting out. The first queen of country-pop made an awkward
attempt to reciprocate the youthful interest with modern production and design use of individual slang on 2023's Queen of the Air! Chantonal, Little Man Twain leads in the opposite direction. The album is pitched as a return to the stage's roots. In title track is a handsome country ballad in which Twain describes being driven by her chain-smoking mother as a child to play gigs in bars in mining towns in Canada's frozen north. "According to my mother, I'm the next Tanya Tucker," Twain sings. Her new weathered voice is joined by that of another country star – Tucker herself. Addling
the faraway parental dream. Twain doesn't dwell on the hard side of her, her untruthful tapering: family alcoholism, domestic abuse, her mother and stepfather's death in a car crash when the stage was 22. Instead we get "faded Man Jesus", a hot route rocker about teenage crashes, with Queens of the Stone Age's Josh Hommie playing the twinkle wind band, and "Northern Town", an acoustic plotter about innocent Canadian childhood. It adds up to an unspectacular, good outward trip down memory lane, warmed by reflected glory from the heyday when she swept all before her.
The film is a very long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long
The film is a very long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long
The film is a very long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long
The film is a very long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long
The film is a very long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long, long
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25 June/On Jan 2006
★ ★
FY Weekend
17
Critics' choice
Films on release Danny Leigh
Jack Eaton
Key Membranes
FY 2006 ★ ★ ★ ★
A bill being settled is rarely news – but some slides are more significant than others. So it was that Donald Trump last week paid 8 Joan Carroll the three awarded her to 162 after a federal jury found him liable for sexually abusing the journalist in the 1990s, then defaming her by denying it. Now the money is followed in, and 4 Joan, a documentary portrait of the woman who was a young and wise – twice.
Many people will only know Carroll through the stock imagery of legal cases, a figure with a blonde hole and sunglasses, pictured outside court. What you don't have in these photos is a great America as voice, as even brisk and dreaming. "How to use audience know what a magazine it?" she asks director by Merryard.
The question is a good one, given how much Carroll is a product of the ancient tradition in large smart US magazine translation. But voice in print was no less distinctive, but some sound in 1993s. New York with making first-person reportage. If the Trump case is the film's inevitable destination, it also makes them be a sketch of Carroll the star, and the author of an ebbel, bright lights muds Manhattan.
Then and now the woman we must in filled with pop and personality. We soon understand why film magazine made Carroll its advice columnist, and how
Vindicated-Journalist 8 Joan Carroll in her business. She was later awarded 4 from in an assault and defamation case against Donald Trump
that morphed into her own mid-1990s. FY since. The man could be seen, and the guidance – addressed to a mostly female audience – was practical and sincere. Carroll chocked his self worth. On encumbrance her in issue department store Bergdell Goodman,
Trump greeted her, she says, as "that advice why." And you're that real estate tycoon, she pimp punged back. Here were two local celebrities engaged in what Carroll took for hunter. Trump is was later found, sexually sounded her shortly afterwards.
Fast forward to 2009. Times change. The attacks is disclosed amid the oasis of 4 WeToo. Carroll this her lawsuits only after Trump calls her a fair. ("Put my type," he says, of course.) Carroll's legal strangers are candidly laid out, but Merryard folds a lot else
into the film greets; levity, history, context. Carroll did not expect the assault at the time because, she says, the repercussions "never sounded like much less." In 2012, we only see her asked the investor questions often levelled at women's sexual activities (see, By then, life has already terminated her contract in "business decision"; the magazine misintained). When her victory comes, it triggers the tide of online Trump loyalists, urged us by his insults. Another jury is moved to record Carroll's another William – as yet unpaid and under appeal – in damages for defamation.
And yet Merryard doesn't allege the complications of Carroll, or the matter of how times – and people – change. Her initial silence, we lose, betrayed a clear plan for men as weak as us are when successful women were encouraged to appear invulnerable. "Do my give him the power. He's the only one who can make you the victim. If you don't him, you're not," she contends on TV in the 1990s. She also makes her widely supportive remarks at that time about women accusing famous men of predation.
Eighteen months after Trump was found liable for sexual abuse, he was so shroud as US president. But then this story, the film insists, is actually not his at all – rather, it is an honest celebration of the woman in whose afterwomen, defiant image is a made in cinemas now
A Gold Ghost
Key Membranes Published by: The New York Times
FY 2006 ★ ★ ★ ★
Let's be honest, I write this man's reviews knowing that in all likelihood the man will be in an a common role continue to be. The blyeans
And yet I urge you to catch a 1 night chest, a confusional movie from Thailand made with humorous views and imagination. For a show of Christopher Polan's Killman budget, it comes stuffed with the story very bit the equal of a 600 Cyclop—not least a haunted woman in 1990 and won – twice.
Clearly, that makes the film sound like a comedy – which it is, with caveats we will get in. It probably also suggests a certain chaotic energy. Again, you also see quite. In fact, the story is infrequently written, from the first malt of budding dust into the apartment of a old described "Academia ladyhoe" (Winnert Goodman), which is a museum (because that then causes a special connection).
To recognise what follows is a challenge. The principal setting, though, is the factory from which the appliance
A haunted hoover plays a key role in 'e Useful Ghost'
comes, haunted by the poltergrist of a ashamed worker. In fact, the whole place is rife with paranormal activity. The grief stricken out of the factory swear also glimpses his beloved late wife Pat (Denha Henson), one occasionally a hoover too. The hoover's bill, splendid food panorama comes into focus. We have a supernatural soap opera (Dron in death, Nat's glove elements) designed to be her husband's upper class family. But we also have a potent allegory, which director Ratchaporn Brootham's bachelor makes close to explicit.
discover the sex scenes yourself. I, in each, you may not have time while watching to consider how remarkable it is that this is Brootham's bachelor's life feature – or that the interim logic holds so fast amid such mad invention. But it is, and it does, and I swear, at the end, I actually applauded. In cinemas now
On the Sea
Friday 2006
FY 2006 (FY) ★ ★ ★ ★
In Westminster, now prime minister Andy Burnham is coming to narrow the gap between London and the rest of the UK. Much new drama On the Sarraline place in exactly that fault listed Britain. The setting is the sudden north Wales coast where the men, sounded Jack Cherry Ward's makes ends meet as his father did, has resting mounds. A Scottish newcomer, Daniel Lurene MacFad炳 is, knows, weeed in diving for a college. The poll tells a discon the price of that catch in fancy London restaurants. Should I view of Londoners in unprintable jack, though middle aged, has never visited the city.
The limits of his experience and the ways of rural communities are key to Helen Walch's film. Still, as the character is acutely aware, many would very life life. The work is hard, but supports a business. And his marriage to childhood sweetheart Maggie (Sue White) is sturdy. They are the kind of couple who dances first at village parties to get everyone the moving.
A shame, then, that the night ends in a fight. Local men set out hand, which at first seems like more hostility to a stranger. In time, we realize they have registered that he is gay. In does jack. His response is different; desires that he has spent a lifetime denying are exposed to insidious and acting places.
Kibson of Bodehach Mountain and Linf's does Country aboard. But On the Sar has powerful enough moments to be heard over them; a set of fine performances, eloquent photography of a landscape at once expansive and esteemed in. You may also feel the story finally deals Jack a service too far. In admiring a character's
strength, a film can end up etching plan to them. Still, the country of fight makes it all the more affecting where it does – just sometimes – break through a business role
The Disk
April 2006 (FY) ★ ★ ★ ★
My poor victim, in the UK, precious court space is being lost at pace due to the moment rise of pickled. The do-not-paid be spent has also been topped as an agent of quantification – since city handshuts courts have been swallowed too. But leave's about
comedy. The Disk keeps the backdrop affluent and the tone abused. The star is John Johnson, the victim-grinning commuter best known for 2010s. Since it was left. Optimally, though, Adam Sandler
becomes over the movie – his no-bills classic Happy Glitter a clear inspiration in Johnson's character Patty Boyd and his confrontation is a meaty sports establishment. That establishment is his own father, Chuck, a cowling owner of an atavity team (late 1984 a player) by Dr Harris, having won faced him 1/3 on a pundiff. Patty
still comes his old man's approval even in his horizon. But while Chuck jolt to fall the pickledd rowace, a twist of scripting finds his son secretly obliged to embrace the game.
Now, much as Happy traded no-buckey for the press president of golf, Patty must adapt a wildly aggressive service to other content. As per Sandler, man Patty tantalum result as the other people he plays with the witheringly men him back, then have him in the dust.
If you feel like you have seen this movie before, The Disk may also spring a surprise – opening into its own personality, a little less raucous, and more woo from the celebrity camera are thrown in a hasty would-be puddle, John McEwen brightly unpacks his story on: in commentary, "It's almost as if he realizes it's never too late to change." I think almost pickledd was a bit of a long time in the completion. If the sport is intrinsically silly, the movie says, then what to do isn't I had anyone – clearly, the future is pickled. On April 17 now
Theatre Sarah Hemming
The Cherry Orchard
Sarah Theatres
FY 2006
★ ★ ★ ★
In Shakespeare, it's the latest, in Theatres, the estate. The orchards arena with a microcosm where the great question of life battle it out. Nowhere is that more beautifully expressed than in the Russian playwright's supreme final play, which now the simple metaphor of a doomed cherry orchard in conjures a society on the copy of seismic change, and a family sphere of by inaction and love. In the present year, I will try a terrific Kenneth Jennings in businessman Liquidion, with Hisha Hunt and Bill Pullman as the biveless aristocratic owners of the estate, Tamara Huxley (1881 presidents) a lonely adieu to the play's brilliant way between hope and nostalgia. Anna Fletsch's spectral set feels transitory and fundamental, beginning and ending under the same rules – hard, prophecy by memories. It is a staging guided with revealing ideas, yet strangely it doesn't help pull them into the eye and something much of the book's masterpiece. The orchard, we are reminded, has not produced fruit to years, by looming significance to represent how to the confocal become the pretty cherry blossom purest that hang out of playing upon and the gnarled branches that charlins through the set towards the
Not quite in
full blossom
Helen Hunt
and Kenneth
Pennagh in
The Cherry Orchard
FY 2006
rafters. Act Two subdials in a soft, septic landscape, where the cart more to drift through an old playwright. There's a slightly heightened quality to their performances, as if many of the characters are acting in their own personal drama, aware of the coming stories and yet reluctant or unable to change. This can produce farcical moments: pous, chores, dark, hyphilous (Andy Bush), with his squeaky horns, in a comic joy; Pullman's face exists in his own little bubble, outliving on blithely about billionaire. But it also drills down into the enduring truth that people are often too self absorbed to meet the demands of the moment.
It's always astonishing how profoundly a piece written over a century ago speaks to our own myopic age. In Laura Wade's father new version, an argument between Alfred Jauchi's idealist Trollman and Branagh's practical capitalist Liquidion is one of many that comes pinging to the fore. Yet this singing hasn't quite scoped the full bitter-tweet range and depth of the play. There's a scouring mix of emotions at the end that doesn't hit home, despite a poignant performance from Michael Elwyn as Fire, the old retainer whom everyone forgets. And there's a curious lack of urgency that dims the play's full impact.
What does ring out is individual heartache, particularly that of the young women. Amber Gadd's romantic servant Chastain Cheshire Dernford May's luminous Anya, gazing after Trollman: Esther Smith's sarwosm Varya, screamed by Liquidion's inability to propose. Meanwhile, Branagh is superb a roan forged by circumstance, clinging to the security of money but still scarred by a sense of inferiority. Full of insightful readings like this, are not quite in full blossom, it's a production so skeptical as the light in the fabled cherry orchard. Te August 29, rec.org.at
That does ring out is individual heartache, particularly that of the young women. Amber Gadd's romantic servant Chastain Cheshire Dernford May's luminous Anya, gazing after Trollman: Esther Smith's sarwosm Varya, screamed by Liquidion's inability to propose. Meanwhile, Branagh is superb a roan forged by circumstance, clinging to the security of money but still scarred by a sense of inferiority. Full of insightful readings like this, are not quite in full blossom, it's a production so skeptical as the light in the fabled cherry orchard. Te August 29, rec.org.at
Trainspiring the Musical
The New York Times
Drugs and drama are so strangely. And Connaith De Verio confesses addiction. Duncan Macmillan's Apple, Dunn and Philip Rogers withdrawal – both superbly. Even so, Postmaning the Music of a slip ink. Heroin addiction and musical theatre are, in part it mildly, not natural beddivers, but much a very savvy tale to make it work – something so totally nimble as Danny Boyle's edgy, funny and dark 1996 film of Vexus Welsh's 1993 novel.
And to say, this musical treatment can't match up. A highly talented crew of young actors works hard. But it's a very awkward brain: rambling, blunt, shallow and scurcity anodizes. The high and the lows, the anger and the danger. On black soars of life – too often it's smoothed out into something about palatable. Where the film starts at full part, pitching two into the filthy Edinburgh film where Renton and his fellow addicts beagery, the musical takes a longer run-up. An opening number in a Letch grab introduces only players wired and hero Renton (played with pretty attitude by Lewis Kidd); his mater Spad, kick boy and Tommy; several concerned parents, and the belligerent fergive, a man who could not a light in a phone box (Frankie O'Connor is a genuinely alarming depiction).
The mums sing of their worries, there are speeches about how Thatcherism and deindustrialization have left young people airlift (our problem is that the show keeps telling us things that should come up through the story), and for quite a while the drugs seem almost a distraction: a lot of late-night indulgence rather than a crippling addiction. Dance sensation is skinny and the plot bitty, home of the tougher stuff in the film has gone – Renton's revoltion, for instance. And while other shocking episodes are present, such as the death of a neglected baby, the arrival of kids and the desolate decline of one's close Tommy, they don't get anything like enough stage time. When Renton goes and starters, it comes over as a life of a bad dream rather than a hallucinatory ordeal. The songs, written by Welsh and Stephen McGuinness, embrace rock, northern soul and country
and ventures, and provide a welcome propulsion. But they're overshadowed by cover versions of genuine bits, such as The Verve's 'Bitter Never Enoughest' and I can thank Troll's; but I can't find while there's masses of spiky energy to Caroline Jay Ranger's production, A tech peculiarly hollow. Promising someone include Spad's absurd job interview while high as speed, with Kieran Andrew's gangly, twitchy performance making the physical comedy. At another point, a tripping Spad asks Renton why the singing, and you glimpse the potential key about the metaphorical use of the musical form. It's a down that could surely find resonance in many's musical up world. Instead, it feels like a pale imitation of better iterations. To paregifTN Renton, choose something else. Te September 1, then having trainspiringthenonand.co.uk
From left: Lewis Kidd as Renton, Kieran Andrew as Spad and Sheridan Townley as Nick Roy
18
25 June/26 July 2024
Life&Arts
FT Weekend
SNAPSHOT
'Untitled' (2015)
by Lin Hsuan-Lang
What's your summer drink?
Mine's a cup of cynicism
Rebecca Watson
Trending
Sometimes, I get the horrible feeling that I've fallen headfirst into an ad campaign. In a meeting room somewhere, once any schooling what we'll be spending our pay packets on and we'll only have the answer when it's to take. This summer, it's not April — begins my weekend reference. A new spirit is in town. In recent articles have declared two frontmanners for the drink of the summer. The Sun, New York Times and Guardian are hanging the drum of the Hugo Spritz. Meanwhile, The Cat declares 'The Summer, We're Drinking Vodka' (Sun 7, The New York Times also has the 'vodka crue', an abbreviation declared to be handled with the distance of spare marks). I don't have a single drink of the summer — one features weekend, our flat was so hot I ended up bleeding from the dinner to change to make a mango margarita double at buns. (No reports I have reported the remedy since.) Last weekend, it was the way of the backlash shandy. It's not a revolutionary science, showing what to drink, but I believe a method — in this moment, what is it that I want? Forget individual choice, though, it's Hugo's world now. No amount of real ale or mango is going to change that; the drink of the summer is a story as far as time. Leonard Rossiter and Juan Collina's adverts for Circass to the late 1970s were so effective they gave verminish in its entirety a sales boost. More recently, April Spritz seized the crown in 2010 and held on night. An ad the city drove Cosmopolitan sales. The Big Colloquium spiked an interest in White Burnham. It is a coincidence that Chris Bishops' latest album contains a lyric about a 'vodka crue'? Drink trends tend to be determined either by celebrity associations or by expensive ad campaign. Nonetheless, it's both Game of Thrones and Sophie Turner in the face of its Germans (the Japanese that goes into Hugo Spritz —
In 2015, during his final year studying round arts in Japan, Lin Hsuan-Lang returned to his hometown Taipei, and saw it through fresh eyes. Wanting to document this unfamiliar experience of house as 'intimate and alien at once', the photographer spent two months walking like they'(L) (women with the camera, taking photos instinctively). Taipei No Goodbye, soon showing at the Photographer's Gallery in Tokyo, distils these roaming into a vibrant yet tender portrait of fleeting encounters with city dwellers and the kaleidoscopic environment around them.
Best on film and barbed in blue lines, often with elements out of focus, the images possess a dreamlike quality. Many look like film stills and leave the viewer teasing on the stories behind them. Here, a majestic weekend makes eye contact with the camera lens. The colour of its brighter color, with those of the surrounding foliage, but the first still stands out simultaneously at one with and at odds with its habitat.
Yasui Gakumoto
Taipei No Goodbye, Photographer Gallery, Tokyo, August 1 to 26
Keep up: Celebrities can sell anything but even better when it's been drinking is an aspirational hobby. A glass of cool in the sun after a long day's work paints the image of a life where the drink doesn't need to be so hard won, where the promise of paradise is a ripaway. It's no surprise that celebrities have built their own home friends — but about the vision of all that, and the sensation that you might turn into George Clooney? The list is endless. Emma Watson and Margot Robbie both have a gin brand, to does Brad Pitt. I also also likes to dislike to read, along with Kylie Morgan and Joe Ben Jeri. (The promise of clean living is also lucrative, with non-alcoholic versions courtesy of Oliva John, Brita Hadd, Tom Holland) How long have we
I don't doubt Hugo Spritz will taste fine but there's a vertiginousness to everyone making the same decisions. I'm not sure that I'm not sure that I'm not sure that I'm not sure that I'm not sure that I'm not sure that I'm not sure that I'm not sure that I'm not sure that I'm not sure that I'm not sure that I'm not sure that I'm not sure that I'm not sure that I'm not sure that I'm not sure that I'm not sure that I'm not sure that I'm not sure that I'm not sure that I'm not sure that
Andy Burnham's regional privilege
Janan Ganesh
Citizen of nowhere
He entered parliament at 21. The cabinet for that, is called London after the next week. The London's 1st place is a manchester fought back for years to empower their city, at which point he did in to run it. Now he scrapes. Dowsing Street with scarcely more scrutiny than that occurred at girls. This is a planned career — a tribute to Andy Burnham's political talent but also, if he could just admit it, to the success of the British establishment. What justifies his air of grievance, then? What can him? He remembers 'seeming voices in the careless of power' and a feeling of 'importer syndrome' at Cambridge. Life gets harder than that, brother. Perhaps the grievance is on behalf of the 'world' (which I am has become enterwriters with 'Manchester') not himself. But, it is still more. London dominates for a reason. England has been a unified entity for a millennium Unlike Germany or Italy, which consolidated late, its regions did not have ages to develop an independent powerhouse. As, Yorkshire is not Lombardy, Birmingham is not Hamburg, from its Manchester's Victorian prego. It had around a fifth of the population of the capital, whose scale has been friable almost forever. All that changes over time is the ranking of the next London cities. (On which note, when will Manchester alone for emerging hospitals? What reparations will it offer Lincoln? A country that has been unified for about as long as England is France. Sure enough, the Paris region accounts for as large a share of France's GDP at London than of Britain. There is no
conspiracy here. The regions are not being done down on purpose. It is historical path dependence at work. In fact, were it not for artificial constraints, such as the planning laws. London might be even more dominant than it is. Reducing the gap is an honourable mission, which every government of my lifetime has tried. Attributing the gap to conscious malice in the capital is downgrade. Let me suggest how Burnham gets away with all this. The idea that London diselates the 'genuine' was somewhat true until the shock of Brexit a decade ago. That attitude has since unconvinced, however, to a kind of Politics-media London lives in round-the-clock fear of being seen to not 'get' the rest of the country. Inverted usability, Politics-media London is particular from in round-the-clock fear of being seen to not 'get' the rest of the country. Hence the pulling of deaths, Burnham's rise is impossible to understand except in that context. He is the beneficiary of a sort of regional privilege that might never have existed before. The strongest audits of Burnham come from the number dwellers such as both Burnham, who can't be called 'out of touch' or come such insanity. In another era, certain questions would have dugged Burnham. Why does the north-west run such a big fiscal deficit? Who thinks the gimmick of running 1970 running front from there is going to last more than a few months? In what world is Manchester a
repeatable model for urban regeneration? Like the place as much as the next man — by Skid — but most post industrial cities don't have ANAND students, two giant football clubs, an international airport and a BBC base. Are Stoke or Sunderland meant to mangle up equivalent amount? Also, what's all this about Burnham being the first northern prime minister for half a century? (Not his claim, but not that does the rounds.) Tony Blair gave up exactly to Burnham. Liz Trane is from Leeds, if anywhere. Perhaps 'northern' has come to mean 'northern accounts'. If you don't sound like Stephen in Poster, you are basically from longbehaviors. The old disregard for the north had to go. But it is not much better to walk on gigantic around a powerful person out of regional sensitivity. Review any politician who goes on about where they are from. Richard Nixon couldn't deal up about Whitney, as though a virtuous hometown was a substitute for being virtuous oneself. So often, the strongest leaders seem placeless (Margaret Thatcher, Ronald Reagan) or even act against their own interests (FDR, Clement Attlee). David Cameron, not in their league but the last prime minister who was at least technically up to the job, seldom involved the rural Home Counties. Though he was among them, his biography is so replacement for a plan. The pressure that virtue lies in the heartland, the cheap shots against the big metropolis, the whalesome of those metropolis to push back too hard, lost it more unobtrusive if Burnham's rise remains more frequent, it is JD Vance's.
janan.ganesh@ft.com
4:41 pm Saturday
They only really came for the fashion. I'm just spent weeks searching for the perfect houndstown jacket. But when a Ford GT40 reading by a 150mph made him split his drink all over himself, he was surprised to find he didn't mind at all.
There's nothing like Goodwood Revival
GEOD
GOODWOOD
18-20 SEPT 2026
Tickets available now
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FINANCIAL TIMES | Saturday July 25 / Sunday July 26 2026
Money
Stacking
up
How summer childcare
got so expensive
PAGES 6 & 7
Rene Dunbar
2 | Money
FINANCIAL TIMES Saturday 25 July 2026
NEWS
This week . . .
Nathan Brooker, Editor, FT Money
As a kid, the long summer holidays from school were carefree — full of camps, bike rides and endless games of headers and volleys over the park. As a parent, I look back at all that and think: oof, that sounds very expensive.
The cost of childcare in the UK is among the highest in the world — and at no time do working parents feel the pinch more than during the six-week holidays, when they may have to pay thousands of pounds for children to attend holiday clubs. What's more, fewer than six in 10 clubs offer care from 8am to 6pm, meaning parents still need to find extra provision. It's no walk in the park. Cover story, pages 6 & 7
What's wrong with the West Country?
The property market in Devon and Cornwall might be the most dysfunctional in the country
Neal Hudson, page 4
'Is my wealth manager biased against me?'
We're getting a divorce and our wealth manager was always much closer to my husband — should I get rid?
Your Questions, page 5
'You never lose the trauma of being broke'
Depop founder Simon Beckerman shares his story
My Financial Life, page 9
When will Burnham tackle the 'cost of working' crisis?
The new PM needs to make work pay
Claer Barrett, back page
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Hundreds settle with HMRC in crypto tax crackdown
INVESTING
New reporting rules make it harder to conceal gains
JOSEPHINE CUMBO
HM Revenue & Customs recovered more than £8mn from settlements with hundreds of cryptocurrency investors three years after launching a crackdown on crypto tax evasion.
Figures obtained through a Freedom of Information request show that 502 crypto investors reached disclosure settlements with the UK tax authority over unpaid tax in the past two years.
In the 2024-25 tax year, 280 individuals settled with HMRC, making payments totalling £3.5mn. In 2025-26, the number of settlements fell to 222, but the total value increased to around £4.8mn.
The figures provide the first full-year insight into the impact of HMRC's crypto disclosure campaign, launched in November 2023, which invited investors to declare unpaid tax relating to exchange tokens, non-fungible tokens (NFTs)
About 8% of UK adults own cryptoassets, according to the Financial Conduct Authority — Charlie Bliley/FT
and utility tokens. This came alongside an acceleration in 'mudge letters' sent to tens of thousands of crypto investors suspected of tax evasion.
'These settlements are part of a broader compliance crackdown by the authorities which has significant implications for both crypto investors and the platforms they use,' said Zurab Kotaria, chief operating officer at Identomat, a financial services compliance provider which submitted the FOI to HMRC.
Under UK tax rules, disposals of cryptoassets typically trigger a capital gains tax
(CGT) liability above the CGT annual exemption limit of £3,000 (down from £12,500 in 2022-23).
Gains above this threshold are taxed at 18 per cent for a basic-rate taxpayer or 24 per cent for higher- and additional-rate payers, depending on their other income.
'In circumstances where HMRC considers buying and selling cryptoassets to be 'trading', gains can be subject to income tax and national insurance [contributions], with individuals expected to report and pay tax via self-assessment,' said Identomat.
The settlements come as new international reporting rules make it harder for investors to conceal crypto gains.
The UK is among more than 40 countries adopting the OECD's Cryptoasset Reporting Framework, which requires cryptoasset providers to collect and report customer and transaction information to tax authorities.
From January 2026, UK providers were required to collect users' identification, tax residence details and transaction summaries.
'We will exchange that information on non-UK tax residents with relevant international partners and receive information from them on UK tax residents,' HMRC said in its annual report published this month.
Increased scrutiny over the digital assets market has come alongside significant growth in crypto ownership in the UK.
Financial Conduct Authority analysis this year estimated that about 8 per cent of UK adults — approximately 4.5mn people — own cryptoassets, with demand more than doubling since 2020.
READERS WRITE
Why this time might not be different
In 1635, tulips bought a house in Mayfair. South Sea shares reached an all-time high in 1780s. In 2000, internet companies were valued by the number of users. In 2026, we value new technology that will change the world forever, but seem to think it's worth any value whatsoever! We learn very little at all — John B. Matthews, via FT.com
A strong contributing factor to the current boom is large budget deficits. However, government debt is increasing rapidly. At some point this will hit the stops. At that point, debt markets will demand higher interest and the music will stop — Dutch perspective, via FT.com
I'm suddenly not loving my UK shares like I used to
Are emerging markets really the best place to be? Thirty-
four per cent of Stuart Kirk's Asia EM fund is in just three companies (TSMC, Samsung and SK Hynix) and one sector (chips). That's a big bet — Academicals, via FT.com
The most important thing not mentioned is the quality of earnings. If two companies have the same 10 per cent year-on-year earnings growth, but company A's growth is coming from operating earnings, whereas company B's growth is due to foreign
exchange gains, then A has a better quality of earnings than B — Steve from Japan, via FT.com
Is Rightmove taking us for a ride?
How will investing in AI help Rightmove? If it turns a property search into something akin to the AI output of a Google search then I'll pass. Rightmove would be better if agents filled in all of the existing fields to give maximum information — Floriculturist, via FT.com
I've always felt Rightmove is missing a trick by not having a paid option or second site for those who just like to be nosy and have a comments section underneath each home.
There are so many vastly overpriced or badly renovated houses near me that just the ability to write 'you're having a laugh' underneath would heal me — Dan Glebles, via FT.com
A characteristically negative British take on what is arguably one of the UK's most successful technology businesses.
Rightmove has, over two decades, created a platform with enormous value for consumers, significantly reduced property search costs, and genuine network effects — Thindker, via FT.com
In the days before Rightmove I suspect estate agents paid just as much for newspaper adverts and other printed material as the average figure of £440 per property quoted in this article — Roger Bill, via FT.com
You can comment on FT Money articles via email at money@ft.com or on Twitter at @ftmoney. Comments may be edited for length and clarity.
FINANCIAL TIMES Saturday 25 July 2026
Money | 3
NEWS
Overpriced homes take 'four times longer to sell'
PROPERTY
More than one-fifth of sellers need to cut their price at least once
JAMES PICKFORD
UK property sellers who set too high a price and have to cut once or more to win a sale take over four times longer on average to sell than those whose initial asking price is accepted.
Research by estate agent Savills into the impact of overpricing properties found that 35 per cent of sales required one cut in asking price and 11 per cent needed two or more, underlining the failure of sellers to adjust their expectations to prevailing market conditions.
Someone who gets their asking price right in the first instance can achieve an agreed sale within 28 days, Savills said. But one price cut extends that to 100 days or over three months; two can push the time to reach an offer to nearly five and a half months.
Lucian Cook, residential research director at Savills, said: "What this reveals is how important it is to get your price right. We know that everybody's natural inclination is to
go to the top end of their range of values, because this is your biggest asset. But this datatells us that the more you misprice the property, the more protracted the sale process will be."
Those who are forced to cut their prices shave off an average of 4.4 per cent each time. Over one-fifth (21.8 per cent) required just one cut to make a sale; another 7.5 per cent needed two, amounting to an 8.4 per cent average drop in price over the two cuts. Those unfortunate enough to need four price cuts saw the total price fall by 15.4 per cent.
Owners of properties priced at over £1mn needed to cut deeper to shift their homes. Where a cut was needed, it averaged 8.5 per cent for these homes, compared with 6.4 per cent across the whole market. Homes in this range also take longer to sell, exacerbating the delays to reach an offer caused by price cutting.
Vendors can often insist on setting a price that is no longer reflected in the wider market. Jonathan Hopper, chief executive of buying agent Garrington Property Finders, said conditions had shifted, leaving fewer buyers pursuing a higher
Sellers of £1mn-plus properties who need to cut their prices average an 8.5 per cent discount — Hobe Adams/Bloomberg
number of available properties — a classic buyers' market.
"Some people are in denial about the market reality in 2026. They look at what the last one on their road sold for a couple of years ago, but that comparable is of no relevance to today's valuation. The market has shifted and the pool of buyers has shrunk." If mortgage rates rise, he added, buy-
ers may be priced out of a purchase they could previously afford.
Price cutting is more prevalent in some regions such as south-east England, where 39 per cent of sales required a cut. In the north-west, only 28 per cent needed one. In Scotland, where the law requires vendors to base their price on an official home report including
How property sellers are having to adjust their price expectations
Analysis based on properties where an agreed sale in the past two years has proceeded to exchange
Source: Savills
a surveyor's valuation, only 13 per cent of homes required a price cut.
Hopper also highlighted the willingness of estate agents to compete with rivals by suggesting a bullish valuation designed to "test the market".
"It's an age-old trick and in this market it's playing with fire," he said. "Testing the market 'could end up costing you more financially."
An ambitious price might win the agent more business but also has an impact on the turnover of properties in their firm, said Cook. "They spend an awful lot more time with that property on their books. They have to manage its marketing and that's a drag on their time."
The psychology of buyers can also penalise the overambitious seller who is eventually forced to cut the price. "People say — hang on, what is it with this property? Or they decide
the seller's expectations were clearly too high, so they wait to see where it ends. As a result, they tend to hold off expressing interest in it," he added.
Even where sellers cut prices enough in one go to provoke interest, the research found it took nearly twice as long subsequently to reach an agreed sale than if the seller had succeeded with the initial asking price.
One big change of the past 20 years is the transparency of price history, now greatly facilitated through property sites such as Rightmove or Zoopla. Buyers have a trove of data at their fingertips and can easily benchmark the price of one property against another.
The price bands used on these sites have become more relevant to decisions about cutting, since most users search on homes within a particular band. If a vendor wants to attract a new population of buyers with a price cut, it has to be sufficiently large to push them into a lower band, said Andrew Perratt, head of Savills UK's residential business. "Is a 4 per cent cut really going to put you in a different price band?"
There are other reasons for sellers to consider starting lower than they might like, he added. "If you're on the low side of the price, you're likely to get competitive interest. If the agent is doing their job properly, you'll get a sealed-bid situation."
"That is the perfect market scenario, where people are bidding against each other. If you start too high, you won't get any offers and you'll have nothing to negotiate with."
More than 600,000 pension savers face tax trap by 2032
PENSIONS
Tapered annual allowance hits earners over £200,000
ALAN LIVSEY
The number of high earners who will be forced to reduce their pension contributions will increase by more than a fifth over the next five years, new analysis suggests.
The so-called tapered allowance threshold, which starts at £200,000, will catch half a million earners in the current tax year to April, according to data from HM Revenue & Customs.
If the thresholds do not change, that figure should climb by 114,000 people by
2032, according to analysis for the FT by pension consultants Barnett Waddingham.
Most taxpayers have an annual limit of £60,000 on how much they can put into their pensions. However, as the sum of taxable income and the allowance climbs above £260,000, this contribution limit tapers down towards a floor of £10,000. If this is not calculated correctly, the taxpayer could be subject to an additional tax charge.
Tyron Potts, Barnett Waddingham's head of pensions research, said that once a taxpayer earns over that amount, "they will have to make a decision about what to do about their contribution . . . They'll
have to go carefully [after that]. For high earners, annual allowance tapering can swiftly and stealthily erode pension tax relief, so understanding
Half a million taxpayers will be affected this year
your adjusted income and how the taper applies will be essential to avoiding an unexpected tax bill," he added. A bonus or other one-off event can also lead to an income jump.
A desire by past governments to increase the tax take means the taxable income threshold has not increased with inflation since 2020. The £200,000 threshold would be worth more than £254,000 today if adjusted for inflation, though pay has grown even faster during that period.
Although the limit has been frozen, the standard contribution allowance was increased in 2023 from £40,000, partly to reduce the effect of the frozen threshold over time. This
followed a drop in the allowance about a decade ago.
Not everyone sees a problem. Sir Steve Webb, a former pensions minister and partner at pension consultancy LCP, said: "There is no doubt that successive cuts to the annual allowance during the 2010s had a negative impact, especially on senior NHS professionals. But a combination of a much higher starting allowance and a more gentle taper mean that the impact is marginal for most people. [Thus the income threshold freeze] is likely to be much less of an issue than it used to be."
The move to reduce the overuse of pensions as tax shelters for higher earners
followed the pension freedoms policy of former chancellor George Osborne in 2014.
The Treasury has frozen other income tax thresholds, including the removal of personal tax allowances above £100,000 of taxable income, which can raise a taxpayer's marginal rate up to 62 per cent, including national insurance. At this level, the impact is often felt by so-called Henrys (high earners but not rich yet).
"The tapered annual allowance only applies to the highest-earning savers, ensuring the benefits of pension tax relief are targeted fairly towards those who need them most," said HM Treasury.
4 | Money
FINANCIAL TIMES Saturday 25 July 2026
ANALYSIS
The West Country: a most dysfunctional market
Unsold homes are piling up as locals can't afford to buy, says Neal Hudson
Summer holidays were much easier before my kids started going to school: we went to Cornwall every year. Sandy beaches, ice cream and an easy drive from where we live in Bath. It was low risk — the only worries were the threat of a downpour or a run-in with a particularly aggressive seagull.
When we started going in the school holidays the equation changed. The downside risks took on a different complexion when, due to the out-of-term-time price surge, the cost of a holiday in Cornwall went through the roof.
It's one thing to change where you go on holiday but quite another when it affects where you live and work.
Cornwall has one of the most seasonal economies in the UK. ONS data shows the number of guest nights (number of guests times length of stay) in short-term lets via the likes of Airbnb and other platforms was about 10 times higher last August than in January. For London, the least seasonal region, the difference between August and January last year was 84 per cent.
In many ways, locals have adapted to the influx of 'emmeds' — Cornish slang for tourists based on an Old English word for ants. But the impact on housing has become so bad that the West Country might be home to the most dysfunctional property market in the UK.
Perhaps the biggest concern is the impact of second homes. There's no perfect data source for identifying the total number of these, but it is possible to identify areas with high concentrations due to council tax data.
There's no perfect way of identifying the effect on the local market, either, though it has clearly pushed up prices. Slightly dated analysis by Cornwall Council suggests that where there is second-home ownership and a lack of affordable housing, this will 'exacerbate affordability issues'.
At first glance, it looks like there is some good news for
locals when it comes to house prices. A chart I've tracked for years shows how different regions have performed since their peaks before the financial crisis. It provides a useful summary of where we are in the housing market cycle.
London saw the fastest recovery after the crash and, despite a decade of stagnation, still tops the chart for the most growth since 2007. The South West had been in the middle of the pack, but something has changed.
House prices in the South West have struggled since rates started rising, and now it's joint second from bottom, tied with Yorkshire and the Humber and above only the North East. It's clear that something has broken the South West's housing market over the past few years.
Looking at patterns of price changes since 2022, when interest rates rocketed, shows a clear divergence across the South West. There is a mixed pattern, with bigger price falls in holiday and second-home hotspots. Across Cornwall, prices are down 6.5 per cent.
Do falling house prices across south-west England really help local buyers? — FT earmag/Desenolive
Due to these falls, affordability has improved across the South West. ONS data shows the price-to-earnings ratio in Cornwall has fallen
The biggest increases in homes listed for sale are in holiday hotspots
from 10.7 at the peak of the post-pandemic 'race for space' in 2021 to 8.3 in 2025 — still stretched but a dramatic improvement that is likely to have continued into 2026.
However, it's harder to determine whether falling house prices help locals or whether the price falls are concentrated in the wrong places and the wrong types of houses.
Data from Rightmove suggests these price falls might not be helping those stuck at the lower end of the housing market. One of the contributing factors to easing prices across the country has been the increase in homes listed on the market but unsold — especially at higher price points.
The Rightmove data shows that the areas with the biggest
increases in homes listed for sale over the past five years are found in holiday hotspots. The biggest increase is found in Torridge, with a 327 per cent increase in listings. Across Cornwall, the increase in stock is 234 per cent, though it will be bigger in the higher-priced second-home hotspots along the coast.
It's not just falling house prices but also rising earnings that have helped reduce the price-to-earnings ratio.
ONS data shows average residence-based earnings in Cornwall were 3.6 per cent higher in 2025 than the previous year. But at £35,000, that's
still 10 per cent lower than the UK average. It's also based on full-time employees. As a seasonal employment market, Cornwall has more than its fair share of part-time and self-employed workers who earn well below that level. Average earnings for part-time employees living in Cornwall were just £13,400.
Top-end second-home markets, such as Rock and St Mawes, have for decades been driven by wealth created in London and the South East. As the London housing market has stagnated, costs and taxes on second homes have increased, mortgage rates have risen and that flow of wealth has shrunk.
That's cut the number of buyers, increased the number of unsold homes and pushed down top-end house prices.
However, with Rightmove reporting average house prices of £1.39mn in Rock and £1.92mn in St Mawes last year, these markets are definitely luxury and there's growing supply. But much like in London, we now have a lot of expensive homes on the market that no one can afford to buy. That's not helping any Cornish locals looking to buy their first home.
The market for second homes might be as cold as ice creams now, but as we deal with record-breaking temperatures, a holiday on the South West's beaches may become more attractive. That could lead to a resurgence in demand for second homes. Just keep an eye out for higher taxes as well as extra chips for the seagulls.
Neal Hudson is a housing market analyst
FINANCIAL TIMES Saturday 25 July 2016
Money | 5
YOUR QUESTIONS
Your Questions Should I change my financial adviser?
Lucy Warwick-Ching
My husband and I are divorcing after more than 50 years of marriage. We've always used the same financial adviser, as I imagine most married couples do, but my husband has always had the relationship. I had a successful business career, but I stopped work to raise our children and my husband handled our finances. I'm worried that our adviser is biased towards my husband and won't act in my interests as we go through the divorce. How can I make sure I'm not at a disadvantage?
Jenny Judd, wealth manager at WIM wealth management, says this situation is relatively common and it's sensible to think carefully about your shared adviser when going through a separation. Untangling more than 30 years of
shared finances should be done in a way that makes you feel comfortable.
Fundamentally, an adviser should always remain impartial and maintain strict confidentiality between you both, regardless of any longstanding relationship with your husband. Advisers are used to supporting couples through these situations in a fair and balanced way. However, there are additional factors to consider.
An adviser relationship should be built on trust. You need to feel you can be open and honest about your finances, your concerns and what you want to achieve. If that trust feels compromised for any reason, it may make it difficult to have the honest conversations that are essential to shaping a robust and appropriate financial plan for your future post-divorce.
If the trust is gone or you have doubts, it can be helpful to establish a relationship with your own adviser. I recommend 'interviewing' a few
'Interview' a few advisers to find one that fits best for your situation — FT/Heritage/Getty Images
firms and advisers to find the right fit in terms of approach, personality and expertise. Different firms serve different types of clients, and the level of service, investment approach and fees vary considerably.
You may conclude the firm you currently use is still the right fit, in which case it can be as simple as moving to a different adviser within the firm,
while your husband retains the same one. A fresh relationship would allow for a complete reassessment of your financial priorities, your attitude to risk, your income needs and broader life plan, which are likely to be quite different after you've separated.
Removing preconceptions shaped by previous financial arrangements would shift the
weight of worry, allowing you to approach your finances with greater clarity and independence.
The ultimate division of assets will be determined by the divorce settlement. Once agreed, your existing adviser and any new adviser can work together to ensure a smooth transition of assets.
Finally, your finances may
be spread across a mix of accounts — such as pensions, Isas and general investment portfolios. If you need to generate income, consider carefully how you draw from these in a tax-efficient way to support your lifestyle. Cash flow modelling can provide clarity and confidence around what level of income is sustainable over the long term. The priority for you is to feel confident and in control of your financial future.
The opinions in this column are intended for general information purposes only and should not be used as a substitute for professional advice. The Financial Times Ltd and the authors are not responsible for any direct or indirect result arising from any reliance placed on replies, including any loss, and exclude liability to the full extent.
Find answers to more reader questions at FT.com/your-questions
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6 | Money
FINANCIAL TIMES Saturday 25 July 2026
COVER STORY
The six-week school holidays are an increasing financial burden for parents, writes Emma Dunkley
Louise is in the throes of her first experience of school summer holidays. She and her husband Jonny, who live in north London, have paid about £1,000 for their son Oscar, five, to attend a few different holiday clubs. But that only covers half of the six-week break.
“My husband and I were looking at our bank accounts thinking: where’s our money gone? We remembered: we’d booked all these camps.”
The substantial cost of the summer holiday camps and juggling of timetables so Louise and Jonny can plan when to use their own annual holiday allowance have made for a stressful financial and logistical burden.
“We’re going away on holiday for a week, but it’s not an expensive one,” she says, noting childcare costs have restricted their options. “Six weeks off is a long time to work out who’s going to do what childcare. I don’t want Oscar to do a camp every day. So there’s a constant juggle.”
Louise will not be alone. The cost of childcare in the UK is among the most expensive in the world, and the price of care over the summer holidays has been rising in recent years.
According to children’s charity Coram, the average bill for a full six-week summer holiday club in Great Britain has increased by 5 per cent in the past year to £1,145 per child – or about £1,360 if you live in south-east England. In inner London, prices have climbed 16 per cent in the last year alone.
Even then, working parents may need to make extra provision, since fewer than six in 10 are open from 8am to 6pm.
Lydia Hodges, head of Coram Family and Childcare, says the cost of childcare more broadly, not just over the summer holidays, is “rising almost every year and almost always above the rate of inflation”.
As of 2025, gross childcare costs in the UK take up more than 43 per cent of the average wage, according to the latest data available from the OECD; the average among its 38 members is 21 per cent. While UK government funding reduces this cost, net childcare costs are 21 per cent of the average wage, compared with an OECD average of 10 per cent.
So why is the UK so pricey – and why, when it comes to summer care, do families feel they’re paying more and getting less?
For Joanna Mroczka, policy expert at the OECD, the answer to the first question is relatively straightforward. “[The UK] relies heavily on a private childcare market, unlike many other OECD countries that
How did summer childcare get so expensive?
have extensive public provision.” She adds that many countries “increase support as families get larger, whereas the UK’s incremental support for additional children is less generous”.
“Successive governments have increased regulation and taxation to the point where childcare in England is among the most expensive in the developed world,” says Karl Williams, research director at the Centre for Policy Studies, a think-tank.
“Uniquely strict staff-to-child ratios and burdensome early-years regulation have been driving child-minders out of business and driving up costs for the rest of the sector since the turn of the century,” he adds. For
example, the tight ratios mean one nursery worker in England can look after a maximum of three toddlers under the age of two.
Williams notes that, because staffing accounts for over 70 per cent of childcare costs, these “structural pressures” have been sharply compounded since 2025, when the Labour government increased employers’ national insurance from 13.8 per cent to 15 per cent and reduced the threshold at which they start paying contributions. The minimum wage has since been raised to £12.71 per hour for those aged 21 and over.
“Childcare providers have had substantial expenditure increases recently,” says Hodges. “Childcare is typically low-paid, so any hikes to minimum wage can affect a large number of the workforce.”
Christine Farquharson, associate director at the Institute for Fiscal Studies, a research institute, says the UK’s relatively low school starting age at four also has an effect. It means that childcare settings cannot use funding for older children, who require less stringent carer-child ratios, to help offset the more expensive care for toddlers – a practice that is
commonly used in other countries.
Government funding has eased some of the costs, but recent changes are clearly no panacea.
The government started offering 15 free hours for children aged two or over from April 2024. From September 2025, the scheme was broadened to offer 30 free hours for any child from nine months to five years. However, the bulk of the free hours are only available to parents with an annual adjusted net income of less than £100,000.
“One of the biggest misconceptions is that earning over £100,000 means childcare is somehow affordable,” says Philly Ponniah, a financial coach. “The loss of funded childcare hours and the personal allowance means they are doubly punished. For families earning over £100,000, childcare can be one of their biggest monthly bills.”
Furthermore, nine out of 10 nurseries reported that government funding rates for three- and four-year-olds do not cover their costs, while more than half said funding for two-year-olds also falls short, according to the National Day Nurseries Association (NDNA), a charity. The average shortfalls amount to £2.61 per hour per child for three- to four-year-olds
UK childcare costs are steep
Net childcare costs (% of average earnings)
FINANCIAL TIMES Saturday 25 July 2026
Money | 7
COVER STORY
Rosie Dunbar
and £1.79 per hour for two-year-olds. 'Government funding pays for an hour of childcare, but not meals and snacks,' says Jonathan Broadbery, director of policy and communications at NDNA.
As a result, many nurseries and providers have raised their headline fees, he says.
'Most nurseries have tried to keep their fee increases as low as possible, with the average increase to parents around 6 per cent. However, this fee increase will hit those who need additional hours but struggle to afford it on low incomes and those higher earners who are not entitled to any government-funded hours.'
Farquharson at the IFS says the situation is nuanced: government funding for the youngest children is 'significantly higher' than the prices providers charge on the private market, whereas three- and four-year-old rates are slightly lower than the market price. 'Providers charge relatively flat prices regardless of age, but it doesn't reflect the underlying cost precisely,' she says.
Still, she notes that high earners who miss out on free childcare face a 'tremendous' cost, particularly in London and the South East. 'You could very easily earn £140,000 and
still be worse off than if you earned £99,000. That's a real issue with the design of the system . . . from a tax revenue point of view these people matter a lot, so there's a broader public finance question.'
Parents feel the pinch most acutely during the summer holiday for two reasons, says Hodges from Coram.
'The main reason why costs are higher in summer is because those costs represent a greater number of hours, days and weeks,' she says. 'Even if the hourly cost is the same as another school holiday — for example, half term or Easter — or
for after-school club, the total is higher because of the amount of time parents need to cover if they are working.'
But complications may also affect the length of the daily care that holiday camps can provide while remaining profitable. Staffing costs, for example, can be an issue as providers need to find new helpers each time the holidays come around. Many activities on offer, from arts and crafts to archery and water sports, also involve specialist equipment, insurance and fully trained staff.
For parents with disabled children, the cost of childcare over the summer break is even more exorbitant. Melissa, 44, and husband Andrew, 42, from south-west London, are parents to six-year-old twins, Frankie and Otis, and two-year-old Remy.
Frankie has cerebral palsy and uses a wheelchair full-time; it is much harder, and more expensive for him to attend holiday clubs compared with his non-disabled twin, Melissa explains. 'When it comes to finding clubs for children who have a disability, it's a whole new layer of stress and difficulty,' she says.
'Frankie gets one-to-one adult care, so every day during term time he gets a dedicated adult to help
him get around. That works well, but when it comes to school holidays, that support falls away. There's nothing.'
For Otis, holiday clubs cost about £50 a day, but the price for Frankie to attend a club with an adult to support him is about £178 a day, assuming that his parents can find a suitable club that caters to his interests. 'It's very stressful and it's a huge jigsaw puzzle,' Melissa adds.
Single parents feel the strain over the school summer holidays too. 'It's particularly brutal if you have one set of annual leave and income,' says Abigail Wood, chief executive of the single-parent charity Gingerbread. 'We see so much juggling as people are desperately trying to make things work . . . taking unpaid leave sometimes works out better.'
So what are the solutions — if any? For families who can afford it, employing a nanny could reduce the strain.
But nannies now come at an even higher cost. An increase in childcare demand, especially in the home counties where more London-based families relocated last year, has boosted nannies' salaries.
'Employing a nanny in London and the home counties now costs upwards of £20 per hour where demand for the limited pool of experienced nannies is very high,' says Kirsty Wild, nanny employment expert at payroll provider Nannytax.
'For parents with long commutes or who work shifts, the long hours — 50 hours a week is the norm for a full-time nanny — and the flexibility cannot be beaten.'
Families in the home counties and outer London can expect to pay £58,864 a year for a live-out nanny working 50 hours a week, according to Nannytax — up more than £12,000 compared with the previous year.
Frankie Gray, founder and director of nanny agency franchise Harmony at Home, says: 'We've seen a massive uplift in demand for childcare over the summer. The apps where you can just book a babysitter have their place . . . but we're finding people want a qualified professional with decades of experience and the market has finally priced that in.'
Au pairs are generally much more affordable and live with the family. They are still entitled to the national minimum wage.
For many people who cannot afford a nanny or au pair, Williams at CPS believes relaxing regulation is key, rather than further government subsidies, which could inflate prices even higher. The obvious drawback is that easing such child safeguarding measures might not be palatable.
In the meantime, parents in the UK continue to grapple with high costs. As Louise says: 'When you come out of nursery and into school, you think your costs will drop off, and then you realise the expense of holiday camps, wraparound care . . . it's not much of a reprieve.'
UK support for larger families is less generous than elsewhere
Net childcare costs (% of average earnings)
Source: OECD
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FINANCIAL TIMES Saturday 25 July 2026
Money | 9
My Financial Life
Simon Beckerman, Depop founder
'You never lose the trauma of being broke'
Simon Beckerman was broke and approaching 40, back in 2011. He was battling to save his independent Milan-based culture magazine. The internet was decimating his tiny print publication, and his co-founder (and brother) had decided to call it quits. But the turmoil gave Beckerman a front-row seat to mobile phones' impact on fashion, prompting him to start Depop, a second-hand clothes-selling app.
Over the next decade, Depop attracted millions of users and was acquired in 2021 by Etsy for £1.1bn, making Beckerman one of Europe's most celebrated founders. He is reported to have made £45mn from the exit alone, excluding secondaries.
The Italian has been vocal about the severe burnout he faced building Depop. He stepped down as chief executive within the first few years and took a £2-month sabbatical. But in late 2020, he co-founded Delli, a marketplace for independent food producers. Having initially self-funded the start-up, he still owns a roughly 40 per cent stake.
Beckerman, 52, is now handing the reins to his co-founder, as he prepares to become a father for the first time. Interview by Isabel Woodford
What was your first job?
My first income came from being a DJ. I would do 18th birthday parties at Milan golf clubs, and also played in a very famous club on Sunday afternoons. It was full of teens who couldn't get in on a Saturday evening. I did that for five years from 1989.
I did other kinds of jobs too – including as a scooter guy for a delivery company. Then my dad helped get me a "proper" job as a graphic designer. I stayed a few years, but quit to go and study because I wanted to be an industrial designer.
I later dropped out of uni; it was too stressful financially. My dad had lost his job at the time and my parents were struggling to pay the rent. I started a graphic design studio with my brother, working out of the family home. Then the internet came, so we started doing websites. We could charge quite a lot because nobody knew how to make them.
We also started a magazine – Pig [People in Groove] – focused on underground creatives and fashion. We ended up all working on it; my mum, my brother, everyone.
We never made loads of money – just enough to survive. I was always half broke until Depop. We were supporting my parents. Any money we made we reinvested in the magazine. At least we got freebies . . . I
Simon Beckerman: 'I was always half broke until Depop' – Charlie Bobby/FT
didn't buy clothes for 10 years. We also started a sunglasses brand that my brother took over.
You founded Depop in 2011. How did that come about?
The iPhone had launched a few years before. I thought: OK, everybody's going to be on mobile; we need to build the magazine for mobile. Initially tried to design an ecommerce site, selling what we featured in the magazine. I designed something cool, with a social aspect – you could follow people, see what they were selling, you could chat with them.
But it was hard to get the brands to give us the stuff to sell. And that's when I realised this could become a digital marketplace where people sold to each other – in particular, a marketplace for vintage clothes.
All of the stylists that worked for us at the magazine were going to flea markets, buying vintage stuff, and so we knew that vintage was going to become big with the internet.
It was 1am or 2am. I called my now wife and said: "We're going to be rich. In three years, we're going to make like €5mn." I thought, we can retire with that.
Was money a big motivator?
It was one of the big priorities, especially after years without money, and seeing my parents crying because they couldn't pay for the petrol to drive us to [high] school.
It came true. OK, it took longer than three years . . . but it was more than five million!
Many people nowadays have a problem with money. I don't believe money is evil per se. Although I do think we should teach how to spend money, rather than how to earn it.
How did you secure your wealth over the years?
The first salary I gave myself with Depop was €1,350 per month. Then we moved the company to London in 2012, and my salary became £40,000 a year. I'd never had that much, and I started to put away some money every month.
Then I did the first secondary sale [selling part of the stake] in 2017. I wasn't a millionaire yet, but I finally had the money to breathe a bit more.
When I saw the bank account, I think it was even more emotional than when I saw the exit money. It was the first time I'd seen a lot of money. I saw it, and I was just breathing hard.
I did another two secondary sales after that, when the company valuation was much lower. The second one I took maybe £700,000. The third secondary was a year before the exit to Etsy – it was worth like eight or nine times less than at the exit. I should have waited!
I sold half of my stake in secondaries and then half at the exit. I earned enough to be happy. If I hadn't sold early, I would have earned double.
How did the exit change you?
It's very strange because when you are a successful entrepreneur, people forget that you have struggled
[financially] all your life. Some friends slightly changed their attitude. One told me our friendship was not going to be the same. I said: "What are you talking about?"
Even now, when I have to make a bank payment with three zeros in it, it's still very stressful. You never lose the trauma. Even two or three years after the exit, I would still buy economy flights and maybe upgrade to business if it was a good deal.
You decided to invest in your latest start-up, Delli. What motivates you at 52?
For all your life you think, I wish I had enough money so I don't need to work any more. You imagine, oh, I'm going to wake up, I'm going to do nothing. But then there's something in me that can't do it. I like to build. I like to have problems to solve.
Putting all this money into Delli is difficult, but I really believe in it. I want to make it work, and I know that putting all this money in is going to incentivise me. I've stepped back now completely from the day-to-day. I'm becoming a parent – but I still am very busy with it.
I've also put money into funds: HV Capital and Balderton. I've backed a few other companies, such as Stripe – pre-IPO – through a friend's [Spac] fund. And I invested nearly as much in SpaceX as I put into Delli.
I've also backed a dozen or so small start-ups. I said to myself, maybe one day I'll become an investor or open a fund. None of them have made money yet. Four have already died.
Born: Milan, Italy, 1974
Education: The International School, Milan; Liceo Artistico, Milan (High School)
1990s – University of Politecnico Milano, Industrial Design faculty [dropped out]
Career: 1994-1998: Freelance graphic designer
1998: Started a graphic design studio, B-Arts (Beckerman Arts), with brother Daniel
1999: Co-founded Pig magazine (People in Groove) with brother
2007: Co-founded Retrosuperfuture sunglasses with brother
2011: Founded Depop, which was acquired in 2021 by Etsy
2014: Stepped down as Depop chief executive, but continued full-time as creative director. Eventually moved to board only
2020: Co-founded Delli with Marie Petrovicka
Lives: In London with wife Chiara
10 | Money
FINANCIAL TIMES Saturday 25 July 2026
The Stockpickers
Our experts discuss which companies to buy, sell or hold this week
Greencore is one of several food manufacturers keen to exploit premium and gourmet ranges - FT management
Investors enjoy the flavour of Greencore-Bakkavor recipe
Food manufacturing is challenging. Producers have to keep pace with changing consumer tastes, as appetites become more adventurous and health-conscious, and demand from larger clients (such as supermarkets) for new products to whet customer appetites.
There are complex food safety regulations, while ingredient inflation, higher employee costs and rising energy bills are further hurdles to profitability. The Food and Drink Federation says costs are rising across the board, with transport, packaging and cleaning chemical costs also rising sharply, driven by supply chain disruption.
Squeezed consumers have limited tolerance for price increases, which means producers have to find alternative ways to address cost pressures.
Meats-focused supplier Cranswick has developed a 'farm to fork' approach, taking more control of its supply chain, and creating premium and gourmet ranges whose audience is less likely to bulk at higher prices.
The food premiumisation trend should benefit producers such as sauces-to-sweet treats business Premier Foods and chilled convenience food group Greencore, as consumers cut spending on eating out and take-aways and pick up luxury ranges instead. But the key driver of growth at Greencore this year has been its takeover of rival Bakkavor.
The aim was to pull two complementary fresh food portfolios together – Greencore's sandwiches and food-to-go and Bakkavor's salads, sushi, desserts and ready meals – to create a leading food group benefiting from greater purchasing and negotiating power and cost synergies.
House broker Shore Capital says the combined group has 'not skipped a beat' in its first months. The merger has broadened the company's range, strengthened its position in the convenience market and its relationships with UK supermarkets, and driven product innovation and cost savings. It's a deal that has left investors with a very pleasant taste in their mouths.
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Food products
Greencore (GNC)
Cost savings of £15mn expected
After a poor market reaction following its half-year results in May, Greencore's most recent trading update cheered investors.
The sandwich manufacturer, responsible for many of the UK's supermarket 'meal deals', said it now expects to deliver adjusted operating profit 'above market expectations' of £234mn to £242mn for 2026.
Greencore is in the process of integrating the acquisition of its rival Bakkavor, which it bought for £1.5bn in January. Total sales across the business rose by 3.2 per cent to £1.02bn for the 13 weeks to June 26.
Management reaffirmed that it expects to achieve £15mn in cost savings as a result of the acquisition this year, and is on track to deliver at least £80mn of savings from the deal by January 2029.
'To us, Greencore equity was treated harshly in spring 2026, which makes this [third quarter] update an excellent opportunity to buy into an investment thesis that has some way to run,' said Clive Black, an analyst at Shore Capital, and we agree. Erin Withey
Industrials
Gateley (GTLY)
Margins remain under pressure
Gateley's share price has halved over the past year, but the professional services group's preliminary results were well received by the market.
The group increased its revenues for the 11th successive year, but it's not immediately obvious why the share price gained given that the board reduced the final dividend to 2p a share, from 6.2p last time around.
Organic revenue growth of 6.2 per cent was complemented by a maiden contribution from Groom Wilkes & Wright. The Hertfordshire-based law firm was acquired in September 2025.
FactSet consensus gives earnings per share of 4.7p, rising to 7.05p in full-year 2028. Adjusted operating profit increased by 2.7 per cent to £21.5mn, albeit with a 60 basis point reduction in the related margin to 11.1 per cent – well adrift of the 13.5 per cent target rate. Tightening profit margins weighed on the valuation despite steady improvements to the top line. Gateley trades at 13 times forecast earnings, on a still hefty implied dividend yield, but its prospects do not seem to support a comeback narrative. Mark Robinson
Industrials
Kier (KIE)
Group has a healthy order book
UK public sector and infrastructure contractors are yet to be affected by political and economic uncertainty. Kier Group was the latest to issue an upbeat trading statement.
Kier said that revenue and profit for the year to June 2026 would be at the top end of expectations. This implies a pre-tax profit of £143mn on revenue of £4.3bn. The company says that 90 per cent of expected revenue for full-year 2027 has already been secured.
There was further evidence of Kier cleaning up its balance sheet, too. The company's average month-end net cash was £11mn over the past year, a substantial improvement on average month-end net debt of £49mn in the previous year. It expects to report net cash of £232mn at its full-year results on September 15.
The company trades on 10 times analysts' 2027 earnings estimates – a discount of at least 30 per cent to its large contracting peers. Historically, Kier's balance sheet has held it back, but as its cash metrics keep improving, the discount should narrow. Hugh Moorhead
DIRECTORS' DEALS
Who's buying or selling shares in their own company this week?
| BUY |
Director/PDMR |
Date |
Price (p) |
Aggregate value (£) |
| Agronomics |
Jim Mellon (ch) |
13 Jul 26 |
4.5 |
1,493,200 |
| Bytes Technology |
Sam Mudd (ce) |
13 Jul 26 |
413.1 |
103,272 |
| Bytes Technology |
Gavin Rochussen |
13 Jul 26 |
415.8 |
415,790 |
| Celebrus Technologies |
Ash Mehta (cfu) |
14-16 Jul 26 |
96.5 |
57,900 |
| Fevara |
Tim Jones |
14-15 Jul 26 |
137.2-138 |
68,675 |
| Lendinvest |
Stephan Wilcke (ch) |
15 Jul 26 |
127.8 |
49,714 |
| SysGroup |
Heejee Chae (ch) |
13 Jul 26 |
24 |
99,993 |
| Telecom Plus |
Philip Bunker* |
14 Jul 26 |
880-881 |
49,804 |
| Touchstar |
Lynden Jones (ce) |
14 Jul 26 |
80.4-81.6 |
40,281 |
| Triad |
Alison Lander |
15 Jul 26 |
367.5 |
22,998 |
| Vistry |
Adam Daniels (ce) |
15 Jul 26 |
260.6 |
99,997 |
| Vistry |
Paul Whetsell |
14 Jul 26 |
253 |
37,913 |
| SELL |
|
|
|
|
| Wizz Air |
Diarmuid O Conghaile |
14 Jul 26 |
1,032 |
105,594 |
- Deal conducted by spouse/family/close associate PDMR = Person discharging managerial responsibility; ce = chief executive; ch = chair; cfu = chief financial officer
Fevara is almost a year into life with a new name, new strategy and a new boss, but shares in the group remain stuck in roughly the same place they were before.
The livestock supplement producer, formerly known as Carr's Group, pivoted to a purely agricultural focus in 2025 after selling its engineering division and welcoming Josh Hoopes as its new chief executive last July. Fevara makes 90 per cent of its
revenue from the manufacture and marketing of feed blocks for cattle, sheep and goats, with the US, UK and Europe being key markets, each accounting for roughly half of sales.
The company is targeting earnings before interest, tax, depreciation and amortisation (ebitda) of £15mn over the medium term, £5mn of which it hopes will come from its push into Brazil, the
world's largest beef cattle market. So far, Fevara has acquired two businesses in Brazil amid hopes that a new frontier could help unlock faster growth. And it seems that management is all in on the plan. Last week, non-executive chair Tim Jones purchased 50,000 ordinary shares for a total investment of £68,675, bringing his overall holding to 219,523 shares or 0.42 per cent of the company. Erin Withey
• Information from Investors' Chronicle in this section is not intended to be relied on by any reader for making investment decisions. Independent investment advice should be obtained. The Financial Times Limited does not accept liability for any loss suffered as a result of such decisions.
FINANCIAL TIMES Saturday 25 July 2026
Money | 11
DATABANK
Weekly Market Summary
World Markets
Biggest Winners & Losers
Upcoming Dividends
Investment Trust Data
Currencies
Commodities & Crypto
FTSE Private Investor Index Series
FTSE Private Investor Index Series
12 | Money
FINANCIAL TIMES Saturday 25 July 2026
DATABANK
Savings
|
Account |
Notice |
Max Deposit |
AER |
Int Paid |
| NO NOTICE (5,000) |
|
|
|
|
|
| Trishank (thishank.co.uk) |
Triple Access |
None |
(1,000 - 4,200) |
1% |
|
| United Trust Bank (uthank.co.uk) |
UTB Limited Access |
None |
(5,000 - 4,300) |
1% |
|
| uthant (uthant.com) |
Simple Saver (17) |
None |
(1 - 4,300) |
1% |
|
| NO NOTICE (10,000) |
|
|
|
|
|
| Trishank (thishank.co.uk) |
Triple Access |
None |
(1,000 - 4,200) |
1% |
|
| United Trust Bank (uthank.co.uk) |
UTB Limited Access |
None |
(5,000 - 4,300) |
1% |
|
| uthant (uthant.com) |
Simple Saver (17) |
None |
(1 - 4,300) |
1% |
|
| NO NOTICE (100,000) |
|
|
|
|
|
| Trishank (thishank.co.uk) |
Triple Access |
None |
(1,000 - 4,200) |
1% |
|
| United Trust Bank (uthank.co.uk) |
UTB Limited Access |
None |
(5,000 - 4,300) |
1% |
|
| uthant (uthant.com) |
Simple Saver (17) |
None |
(1 - 4,300) |
1% |
|
| NO NOTICE (100,000) |
|
|
|
|
|
| Trishank (thishank.co.uk) |
Triple Access |
None |
(1,000 - 4,200) |
1% |
|
| United Trust Bank (uthank.co.uk) |
UTB Limited Access |
None |
(5,000 - 4,300) |
1% |
|
| uthant (uthant.com) |
Simple Saver (17) |
None |
(1 - 4,300) |
1% |
|
| UP TO 90 DAYS NOTICE (1,000) |
|
|
|
|
|
| Udury Bank (udury.com) |
90 Day Notice (14) |
90 Day |
(1,000 - 4,100) |
1% |
|
| Secum Trust Bank (secumtrustbank.com) |
90 Day Notice |
90 Day |
(1 - 4,100) |
1% |
|
| ShamBank (shambank.co.uk) |
90 Day Notice |
12 - 90 Day |
(1,000 - 4,300) |
1% |
|
| UP TO 90 DAYS NOTICE (5,000) |
|
|
|
|
|
| United Trust Bank (uthank.co.uk) |
UTB 60 Day Notice 1 |
60 Day |
(5,000 - 4,300) |
1% |
|
| Secum Trust Bank (secumtrustbank.com) |
90 Day Notice |
90 Day |
(1 - 4,300) |
1% |
|
| ShamBank (shambank.co.uk) |
90 Day Notice |
12 - 90 Day |
(1,000 - 4,300) |
1% |
|
| UP TO 90 DAYS NOTICE (10,000) |
|
|
|
|
|
| Secum Trust Bank (secumtrustbank.com) |
90 Day Notice |
90 Day |
(1 - 4,300) |
1% |
|
| ShamBank (shambank.co.uk) |
90 Day Notice |
12 - 90 Day |
(1,000 - 4,300) |
1% |
|
| BLME A (blme.com) |
90 Day Notice (10) |
90 Day |
(10,000 - 4,300) |
1% |
|
| UP TO 90 DAYS NOTICE (100,000) |
|
|
|
|
|
| Secum Trust Bank (secumtrustbank.com) |
90 Day Notice |
90 Day |
(1 - 4,300) |
1% |
|
| ShamBank (shambank.co.uk) |
90 Day Notice |
12 - 90 Day |
(1,000 - 4,300) |
1% |
|
| BLME A (blme.com) |
90 Day Notice (10) |
90 Day |
(10,000 - 4,300) |
1% |
|
| UP TO 90 DAYS NOTICE (100,000) |
|
|
|
|
|
| Secum Trust Bank (secumtrustbank.com) |
90 Day Notice |
90 Day |
(1 - 4,300) |
1% |
|
| ShamBank (shambank.co.uk) |
90 Day Notice |
12 - 90 Day |
(1,000 - 4,300) |
1% |
|
| BLME A (blme.com) |
90 Day Notice (10) |
90 Day |
(10,000 - 4,300) |
1% |
|
| MONTINU INTEREST UP TO 15,000 |
|
|
|
|
|
| uthant (uthant.com) |
Simple Saver (17) |
None |
(1 - 4,300) |
1% |
|
| ShamBank (shambank.co.uk) |
90 Day Notice |
12 - 90 Day |
(1,000 - 4,300) |
1% |
|
| uthant (uthant.com) |
Sunny Day Saver (9) |
None |
(1 - 5,000) |
1% |
|
| MONTINU INTEREST (5,000) |
|
|
|
|
|
| Trishank (thishank.co.uk) |
Triple Access |
None |
(1,000 - 4,200) |
1% |
|
| uthant (uthant.com) |
Simple Saver (17) |
None |
(1 - 4,300) |
1% |
|
| ShamBank (shambank.co.uk) |
90 Day Notice |
12 - 90 Day |
(1,000 - 4,300) |
1% |
|
| MONTINU INTEREST (10,000) |
|
|
|
|
|
| Trishank (thishank.co.uk) |
Triple Access |
None |
(1,000 - 4,200) |
1% |
|
| uthant (uthant.com) |
Simple Saver (17) |
None |
(1 - 4,300) |
1% |
|
| ShamBank (shambank.co.uk) |
90 Day Notice |
12 - 90 Day |
(1,000 - 4,300) |
1% |
|
| MONTINU INTEREST (50,000) |
|
|
|
|
|
| Trishank (thishank.co.uk) |
Triple Access |
None |
(1,000 - 4,200) |
1% |
|
| uthant (uthant.com) |
Simple Saver (17) |
None |
(1 - 4,300) |
1% |
|
| ShamBank (shambank.co.uk) |
90 Day Notice |
12 - 90 Day |
(1,000 - 4,300) |
1% |
|
| MONTINU INTEREST (50,000) |
|
|
|
|
|
| Trishank (thishank.co.uk) |
Triple Access |
None |
(1,000 - 4,200) |
1% |
|
| uthant (uthant.com) |
Simple Saver (17) |
None |
(1 - 4,300) |
1% |
|
| ShamBank (shambank.co.uk) |
90 Day Notice |
12 - 90 Day |
(1,000 - 4,300) |
1% |
|
| OFFSHORE ACCOUNTS (10,000) |
|
|
|
|
|
| Standard Bank International |
Offshore Reserve Savings |
None |
(3,000 - 1,150) |
1% |
|
| Standard Bank International |
Premium Saver |
None |
(1 - 3,000) |
1% |
|
| Standard Bank International |
International Saver 36 |
30 Day |
(10,000 - 2,700) |
1% |
|
| ACCOUNTS WITH INTRODUCTORY BONUS |
|
|
|
|
|
| Comega Bank (comegabank.co.uk) |
Online Easy Access (89) |
None |
(1 - 4,200) |
1% |
|
| DeSoto (via app) |
Mark Street |
None |
(1 - 4,200) |
1% |
|
| Moncton BS (via brand) |
Triple Access (10) |
None |
(1 - 4,200) |
1% |
|
| Umar Bank (uhmbank.co.uk) |
Limited Edition Saver 1 |
None |
(5,000 - 4,300) |
1% |
|
| Post Office Money (postoffice.co.uk) |
Online Saver 89 |
None |
(1 - 4,300) |
1% |
|
| Chase (via app) |
Chase Saver Boosted |
None |
(1 - 4,300) |
1% |
|
| SAS (vaggy.co.uk) |
Easy Access Savings |
None |
(1 - 4,300) |
1% |
|
| Yorba Money (via app) |
HomeSaver |
None |
(10 - 4,300) |
1% |
|
| Revolut (via app) |
Instant Access |
None |
(1 - 5,000) |
1% |
|
| Level (via app) |
Level (Instant Access) |
None |
(1 - 5,000) |
1% |
|
Mortgage Rates
|
Rate and Term |
Max LTV |
Fee |
Early Repayment Charge Period |
| Short Term Fixed Rates |
|
|
|
|
| first direct |
4.32% for 2 years |
60% |
£480 |
1st 2 yrs |
| HSBC |
4.88% to 31.10.20 |
90% |
- |
1st 31.10.20 |
| first direct |
4.02% for 3 years |
75% |
£480 |
1st 2 yrs |
| West Boon BS |
5.11% to 31.10.20 |
90% |
- |
1st 31.10.20 |
| Longer Term Fixed Rates |
|
|
|
|
| first direct |
4.38% for 5 years |
60% |
£480 |
1st 5 yrs |
| first direct |
4.58% for 5 years |
85% |
£480 |
1st 5 yrs |
| first direct |
4.72% for 5 years |
90% |
£480 |
1st 5 yrs |
| Nationwide BS |
5.49% for 10 years |
80% |
£880 |
1st 10 yrs |
| Remortgages |
|
|
|
|
| first direct |
4.47% for 2 years |
60% |
£480 |
1st 2 yrs |
| first direct |
4.57% for 2 years |
75% |
£480 |
1st 2 yrs |
| Yap |
4.89% to 30.11.20 |
85% |
£885 |
1st 30.11.20 |
| first direct |
4.82% for 5 years |
85% |
£480 |
1st 5 years |
| First Time Buyers |
|
|
|
|
| Reentry BS |
4.64% for 2 years |
95% |
£885 |
1st 2 yrs |
| HSBC |
5.41% to 31.10.20 |
95% |
- |
1st 31.10.20 |
| Barclays Mortgage |
5.14% to 30.9.20 |
95% |
£880 |
1st 30.9.20 |
| HSBC |
5.32% to 31.10.21 |
95% |
- |
1st 31.10.21 |
| Discounted Variable Rates |
|
|
|
|
| East Boon |
4.24% for 2 years |
80% |
£880 |
1st 2 yrs |
| West Boon BS |
4.49% for 2 years |
90% |
£880 |
None |
| Earl Shilton |
5.04% for 2 years |
75% |
(1,350) |
1st 2 yrs |
| Earl Shilton |
5.58% for 5 years |
90% |
£724 |
1st 5 yrs |
| Variable Rates |
|
|
|
|
| Santander |
4.02% for 2 years |
60% |
£880 |
None |
| Barclays Mortgage |
4.12% for 2 years |
75% |
£880 |
None |
| Nationwide BS |
4.17% for 2 years |
80% |
£880 |
None |
| Nationwide BS |
4.29% for 2 years |
85% |
£880 |
None |
| Buy-to-Let Variable Rates |
|
|
|
|
| HSBC |
4.39% for 2 years |
65% |
(1,380) |
None |
| Hinckley & Rugby BS |
4.75% for 2 years |
75% |
(1,240) |
1st 2 yrs |
| Beth BS |
5.09% for 2 years |
80% |
£880 |
1st 2 yrs |
| Buy-to-Let Fixed Rates |
|
|
|
|
| HSBC |
4.89% to 31.10.20 |
75% |
- |
1st 31.10.20 |
| Lands BS |
4.51% to 31.10.21 |
60% |
(1,480) |
1st 31.10.21 |
| Newcastle BS |
5.40% to 31.12.21 |
80% |
£880 |
1st 31.12.21 |
Current Accounts
| CREDIT INTEREST |
|
|
|
|
| Provider |
Account Name |
Account Fee |
Interest Rate |
|
| Nationwide Building Society |
FreeDirect |
None* |
5% |
|
| Bank of Scotland |
Vantage Checks Account |
None* |
5% |
|
| Lloyds |
Club Lloyds |
None* |
2% |
|
| OVERDRAFTS |
|
|
|
|
| Provider |
Account Name |
Account Fee |
Interest Rate |
|
| Stirling Bank |
Current Account |
None* |
15% |
|
| First Direct |
1st Account |
None* |
30.90% |
|
| Virgin Money |
M Plus Account |
None* |
19.90% |
|
| *Account Fee (top 4 minimum requirements are not) |
|
|
|
|
| Credit Card Rates |
|
|
|
|
| INTRODUCTORY RATES |
|
|
|
|
| Provider |
Card Type |
Intro Purchase |
APR |
|
| TSB |
Platinum Purchase |
0% for 25 Months |
24.90% |
|
| Barrisacard |
Platinum Balance Transfer |
0% for 24 Months |
24.90% |
|
| MBG Bank |
Purchase Plus |
0% for 24 Months |
24.90% |
|
| BALANCE TRANSFERS |
|
|
|
|
| Provider |
Card Type |
Intro Purchase |
Transfer Fee |
APR |
| MBNA |
Long Balance |
0% for 30 Months |
2.99% |
24.3% |
| HSBC |
1st Account |
0% for 30 Months |
3.19% |
24.3% |
| Barrisacard |
Platinum Balance Transfer |
0% for 30 Months |
3.15% |
24.3% |
| BALANCE TRANSFERS |
|
|
|
|
| Provider |
Card Type |
APR |
- |
Cashback |
| American Express |
Cashback Formulas |
29.1% |
0.5%-1% |
Intro 5% for 5 months (max £125) |
| Virgin Money |
Everyday Cashback |
24.9% |
0.25% |
Intro 1% for 2 months (max £15 a month) |
| Newport |
Travel Reward |
27.9% |
0.1%-1% |
on spend over £1 a year |
| Premium Annuities |
|
|
|
|
| Provider |
Ranking |
£ per annum |
Provider |
Ranking |
| Single Life |
Agmt 65 |
Single Life |
Agmt 65 |
Agmt 65 |
| Movement since 15/07/2026 |
5.08% |
Movement since 15/07/2026 |
- |
4.25% |
| Aviva Pension Annuity |
1 |
15,914.64 |
Aviva Pension Annuity |
1 |
| Standard Life Pension Annuity |
2 |
63,848.64 |
Standard Life Pension Annuity |
2 |
| Legal & General Pension Annuity |
3 |
65,779.80 |
Scottish Widows Annuity |
3 |
| Just Pension Annuity |
4 |
65,749.88 |
Just Pension Annuity |
4 |
| Provider |
Ranking |
£ per annum |
Provider |
Ranking |
| Single Life |
Agmt 65 |
Single Life |
Agmt 65 |
Agmt 65 |
| Movement since 15/07/2026 |
3.76% |
Movement since 15/07/2026 |
- |
2.92% |
| Scottish Widows Annuity |
1 |
69,013.48 |
Aviva Pension Annuity |
1 |
| Standard Life Pension Annuity |
2 |
67,904.28 |
Scottish Widows Annuity |
2 |
| Aviva Pension Annuity |
3 |
67,774.58 |
Standard Life Pension Annuity |
3 |
| Just Pension Annuity |
4 |
67,679.44 |
Canada Life Lifetime Annuity |
4 |
| Provider |
Ranking |
£ per annum |
Source: Mercer Financial Planning DMS 07/2/74 |
|
| Jami Life |
Make Agmt 65 & Female Agmt 65 |
Mercer Private Wealth is a trading name of Mercer Limited. Mercer Limited is authorised and regulated by the Financial Impact Authority. Registered in England and Wales No. 6897 |
|
|
| Movement since 15/07/2026 |
3.66% |
Mercer Limited is authorised and regulated by the Financial Impact Authority. Registered in England and Wales No. 6897 |
|
|
| Scottish Widows Annuity |
1 |
67,460.88 |
Registered Office 1 Tower Place West, Tower Place. |
|
| Standard Life Pension Annuity |
2 |
67,370.40 |
London EC28 0BS |
|
| Canada Life Lifetime Annuity |
3 |
67,257.36 |
www.mercer.com/private-wealth/ |
|
| Aviva Pension Annuity |
4 |
65,940.20 |
|
|
FINANCIAL TIMES Saturday 25 July 2026
Money | 13
MANAGED FUNDS SERVICE
| Fund |
Bid |
Offer |
D |
W |
Yield |
Fund |
Bid |
Offer |
D |
W |
Yield |
Fund |
Bid |
Offer |
D |
W |
Yield |
Fund |
Bid |
Offer |
D |
W |
Yield |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Algebris Investments
Registered
| Algebris Core Auto (EUR) |
€ 245.25 |
-0.00 |
-2.71 |
0.00 |
| Algebris Core Auto (EUR) |
€ 235.07 |
-0.00 |
-2.46 |
0.00 |
| Algebris Financial Credit (EUR) |
€ 235.07 |
-0.00 |
-2.46 |
0.00 |
| Algebris Financial Credit (GBP) |
€ 202.23 |
-0.47 |
-0.75 |
0.00 |
| Algebris Financial Credit (USD) |
€ 210.00 |
-0.40 |
-0.74 |
0.00 |
| Algebris Financial Credit (EUR) |
€ 192.30 |
-0.47 |
-0.74 |
0.00 |
| Algebris Financial Equity (EUR) |
€ 362.72 |
-3.25 |
-1.99 |
0.00 |
| Algebris Financial Equity (EUR) |
€ 310.40 |
-2.05 |
-6.45 |
0.00 |
| Algebris Financial Equity Fund (GBP) |
€ 310.40 |
-2.05 |
-6.45 |
0.00 |
| Algebris Financial Equity Fund (USD) |
€ 401.50 |
-4.35 |
-9.03 |
2.00 |
| Algebris Financial Income (EUR) |
€ 302.56 |
-1.04 |
-3.01 |
0.00 |
| Algebris Financial Income (EUR) |
€ 296.40 |
-1.45 |
-2.15 |
0.00 |
| Algebris Financial Income Fund (GBP) |
€ 221.95 |
-1.18 |
-2.14 |
0.02 |
| Algebris Financial Income Fund (USD) |
€ 252.01 |
-1.35 |
-2.47 |
0.00 |
| Algebris Global Credit Opportunities (EUR) |
€ 155.22 |
-0.25 |
-1.00 |
0.00 |
| Algebris Global Credit Opportunities (EUR) |
€ 140.95 |
-0.23 |
-0.56 |
0.00 |
| Algebris Global Credit Opportunities (GBP) |
€ 154.35 |
-0.23 |
-0.55 |
0.00 |
| Algebris Global Credit Opportunities (USD) |
€ 150.22 |
-0.23 |
-0.56 |
0.00 |
| Algebris Financial Credit (EUR) |
€ 119.98 |
-0.29 |
-0.58 |
0.00 |
| Algebris Financial Credit (EUR) |
€ 116.85 |
-0.28 |
-0.57 |
0.00 |
| Algebris Strategic Credit Fund (EUR) |
€ 115.87 |
-0.29 |
-0.53 |
0.00 |
| Algebris Global Equity Select (EUR) |
€ 157.81 |
-0.01 |
-1.20 |
0.00 |
| Algebris Global Equity Select (EUR) |
€ 150.32 |
-0.01 |
-1.25 |
0.00 |
Artemis Fund Managers Ltd (1200)F
57 St. James's Street, London SW1A 1LD 0800 092 2051
Authorised for Funds
| Artemis Corporate Bond (Acc) |
117.92 |
-0.04 |
-0.71 |
0.00 |
| Artemis Global Income (Div) |
237.39 |
-0.00 |
7.10 |
0.00 |
| Artemis High Income (Div) |
76.11 |
-0.22 |
-0.51 |
0.20 |
| Artemis Income (Inc) |
356.11 |
-0.47 |
1.19 |
5.48 |
| Artemis Monthly (Dec) Inc |
100.66 |
-0.22 |
1.57 |
0.00 |
| Artemis Short On Short Bond |
132.82 |
-0.10 |
-0.42 |
0.00 |
| Artemis Short Off (Dec) (Acc) |
985.76 |
-3.44 |
19.68 |
0.00 |
| Artemis Short Off (Dec) (Acc) (Acc) |
252.24 |
-1.46 |
7.15 |
1.95 |
| Artemis Short Off (Dec) (Acc) (Acc) |
341.52 |
-0.27 |
14.61 |
0.00 |
| Artemis Short Off (Dec) (Acc) (Acc) |
771.04 |
-6.11 |
25.08 |
0.00 |
| Artemis Short Off (Dec) (Acc) (Acc) |
4780.38 |
-21.16 |
118.55 |
2.41 |
| Artemis Strategic Funds (Acc) |
109.16 |
-0.03 |
2.69 |
0.00 |
| Artemis Strategic Fund (Acc) |
125.01 |
-0.19 |
-0.77 |
4.46 |
| Artemis UK Select Fund (Dec) (Acc) |
1462.95 |
-6.25 |
10.10 |
0.00 |
| Artemis UK Small Fund (Acc) |
2546.40 |
-5.04 |
1.25 |
1.81 |
| Artemis UK Special Fund (Acc) |
1229.69 |
-3.06 |
5.89 |
0.00 |
| Artemis UK Domestic Alpha (Acc) |
584.07 |
-0.03 |
2.43 |
0.00 |
| Artemis UK Select (Acc) |
590.19 |
-0.07 |
6.48 |
0.00 |
| Artemis UK Short (Acc) (Acc) |
521.98 |
-2.06 |
7.83 |
0.00 |
ASB Capital
Gum Village 5, Level 4, Unit 11, DFC,
Dubai Limited, Arab Emirates
www.asbc.com
| ASB SUKR - ACC |
$ 103.00 |
-0.00 |
0.00 |
0.00 |
| ASB SUKR - DST |
$ 97.29 |
-0.00 |
0.00 |
0.00 |
| ASB Silver Street Global Equity |
$ 123.01 |
-0.00 |
0.00 |
0.00 |
| ASB Global Technology |
$ 102.43 |
-0.00 |
-2.15 |
0.00 |
| ASB MENA Equity |
$ 95.39 |
-0.00 |
0.00 |
0.00 |
Atlantis Sicav
(LUX)
Registered
| American Dynamic |
$ 8888.26 |
-0.00 |
-40.00 |
0.00 |
| American One |
$ 5808.57 |
-0.00 |
-102.97 |
0.00 |
| Bond Global |
€ 1802.39 |
-0.00 |
-1.35 |
0.00 |
| Eurocosource |
€ 1303.73 |
-0.00 |
-6.71 |
0.00 |
| Far East |
$ 1253.85 |
-0.00 |
5.77 |
0.00 |
Blue Whale Investment Funds ICAV
(IRE)
www.bluenwhale.co.uk info@bluewhale.co.uk
FCA Recognised Related UCITS
| Blue Whale Growth HSST |
$ 25.04 |
-0.29 |
0.37 |
0.00 |
|
|
|
|
|
Thoughtful Investing.
Brown Advisory Funds PLC
(IRL)
http://www.brownadvisory.com Tel: 020 3301 8130
FCA Recognised
| Global Leaders Fund (GDC) |
$ 31.16 |
-0.21 |
-0.77 |
0.00 |
| Global Leaders Sustainable Fund (GDC) |
$ 18.27 |
-0.17 |
-0.47 |
0.00 |
| Global Sustainable Real Return Bond (GBP) |
€ 9.43 |
-0.02 |
-0.55 |
0.00 |
| Global Sustainable Real Return Bond (USD) |
$ 10.86 |
-0.02 |
-0.55 |
0.00 |
| US Equity Growth Fund (USD) |
$ 72.52 |
-0.67 |
-2.04 |
0.00 |
| US Portfolio Equity Fund (USD) |
$ 40.48 |
-0.48 |
-1.27 |
0.00 |
| US Mid Cap Growth Fund (USD) |
$ 24.40 |
-0.03 |
-0.33 |
0.00 |
| US Small Cap Bond Fund (USD) |
$ 31.71 |
-0.04 |
-0.33 |
0.00 |
| US Small Cap Compensation Fund (USD) |
$ 46.97 |
-0.07 |
-0.69 |
0.00 |
| US Sustainable Growth Fund (USD) |
$ 37.49 |
-0.46 |
-1.30 |
0.00 |
| US Sustainable Value Fund (USD) (Acc) |
$ 17.23 |
-0.15 |
-0.27 |
0.00 |
Canaccord International Fund Managers Limited
(JER)
4th Floor at 37 Esplanade, St Helier, Jersey, 2C2 3CA
+44 (0) 1534 700 104 (Int) +44 888 169 7966 (UK)
Canaccord Wealth International Multi Strategy Funds Limited
| Balanced Strategy |
£ 1.17 |
-0.00 |
0.00 |
0.00 |
| Balanced Strategy A |
£ 1.17 |
-0.00 |
0.00 |
1.04 |
| Cashless Balanced Strategy |
£ 1.47 |
-0.00 |
0.00 |
0.91 |
| Cashless Balanced Strategy A |
£ 1.05 |
-0.00 |
0.00 |
1.04 |
| Growth Strategy |
£ 2.64 |
-0.01 |
0.00 |
0.79 |
| Growth Strategy A |
£ 1.26 |
-0.00 |
0.00 |
0.54 |
| High Growth Strategy A/C |
£ 3.87 |
-0.01 |
0.01 |
0.24 |
| High Growth Strategy A |
£ 1.32 |
-0.00 |
0.00 |
0.52 |
| High Income Bond Fund Monthly |
£ 0.99 |
-0.00 |
-0.01 |
0.00 |
| High Income Bond Fund Quarterly |
£ 1.00 |
-0.00 |
-0.01 |
0.00 |
| US Growth Strategy |
$ 2.53 |
-0.01 |
-0.02 |
0.21 |
Dealing Daily. Initial Charge Nil for A classes and up to 2% for other classes
A NEW YORK LIFE INVESTMENTS COMPANY
CP Global
Asset Management
Candriam Investors Group
(LUX)
FCA Recognised
| Candriam Alts Net Up/Net Assets (C Cap) |
€ 231.31 |
-0.04 |
-0.15 |
0.00 |
| Candriam Bills Earn High Yield Cap |
€ 1492.22 |
-1.40 |
-2.50 |
0.00 |
| Candriam Bonds Dbl/Net Debt (C Cap) |
€ 289.56 |
-1.02 |
-1.03 |
0.00 |
| Candriam Bonds Dbl/Net Debt (C Cap) |
€ 188.43 |
-0.35 |
-0.25 |
0.00 |
| Candriam Bonds Total Return (C Cap) |
€ 145.83 |
-0.15 |
-0.45 |
0.00 |
| Candriam Dwn/Net Interest (C Cap) |
€ 1200.64 |
-4.79 |
176.45 |
0.00 |
| Candriam Eppc. Assets (Cap) (A) |
AE 2211.94 |
-35.24 |
-38.55 |
0.00 |
| Candriam Eppc. Emerging Mkt (C Cap) |
€ 1500.57 |
-27.01 |
16.48 |
0.00 |
| Candriam Equities (Balance) (C Cap) |
$ 1384.02 |
-9.15 |
5.40 |
0.00 |
| Candriam Equities (Europe) (M Cap) |
€ 242.56 |
-4.29 |
-8.07 |
0.00 |
| Candriam Index (Mkt) (C Cap) |
€ 1544.16 |
-1.05 |
-3.35 |
0.00 |
| Candriam Long Short Credit (M Cap) |
€ 126.36 |
-0.01 |
-0.00 |
0.00 |
| Candriam Risk (Mkt) (C Cap) |
€ 2764.44 |
-1.14 |
-0.70 |
0.00 |
| Candriam Suez Bond (Mkt) (Mkt) (C Cap) |
$ 771.43 |
-3.96 |
-7.27 |
0.00 |
| Candriam Suez Bond (Mkt) (C Cap) (C Cap) |
€ 111.32 |
-0.22 |
-0.51 |
0.00 |
| Candriam Suez (Mkt) (Mkt) (C Cap) (C Cap) |
€ 1282.24 |
-3.08 |
-6.14 |
0.00 |
| Candriam Eppc (Mkt) (Mkt) (C Cap) |
$ 156.71 |
-1.47 |
-1.92 |
0.00 |
| Candriam Eppc (Mkt) (Mkt) (C Cap) |
$ 2145.15 |
-1.00 |
-12.95 |
0.00 |
| Candriam Suez (Eppc) (Mkt) (C Cap) |
€ 185.49 |
-4.81 |
-2.10 |
0.00 |
| Candriam Suez (Eppc) (Mkt) (C Cap) |
€ 217.09 |
-4.19 |
-3.09 |
0.00 |
| Candriam Suez (Eppc) (Mkt) (C Cap) (C Cap) |
€ 2455.71 |
-25.67 |
-0.04 |
0.00 |
| Candriam Suez (Eppc) (Mkt) (C Cap) |
€ 40.59 |
-0.40 |
-2.00 |
0.00 |
| NYM/EF US High Yield Corp Bond (M Cap) |
$ 172.41 |
-0.61 |
-0.94 |
0.00 |
Candriam Investors Group
Other International Funds
| Candriam Bills Earn On Term Cap |
€ 2165.62 |
-1.05 |
-4.75 |
0.00 |
| Candriam Bonds Credit Opportunities |
€ 221.58 |
-0.11 |
-0.35 |
0.00 |
| Candriam Bonds Energy Mkt (C Cap) |
$ 3895.13 |
-10.90 |
-33.75 |
0.00 |
| Candriam Equities (Cap) (Debt) (C Cap) |
€ 246.17 |
-3.03 |
-0.42 |
0.00 |
| Candriam Equities (Global) (Debt) (C Cap) |
€ 383.55 |
-2.58 |
-3.75 |
0.00 |
| Candriam Equities (Debt) (Debt) (C Cap) |
$ 3407.01 |
-66.47 |
12.66 |
0.00 |
| Candriam Equities (Nett) (Debt) (C Cap) |
$ 1028.69 |
-62.30 |
-51.13 |
0.00 |
Cantab Asset Management Ltd
01222 022000
www.cantab.com
FCA Recognised
| VT Cantab Balanced A GBP Acc |
138.66 |
-0.33 |
-3.13 |
1.80 |
| VT Cantab Balanced A GBP Acc |
137.30 |
-0.24 |
-3.10 |
2.12 |
| VT Cantab Sustainable Debt (A GBP Acc) |
167.25 |
-0.08 |
-2.91 |
1.37 |
CG Asset Management Limited
20 King Street, London EC2V 0EG
Dealing: Tel: +353 1434 5098 Fax: +353 1542 2859
FCA Recognised
CG Portfolio Fund PLC
| Absolute Return (M Inc) |
£ 144.09 |
-0.19 |
-0.23 |
2.01 |
| Capital Gains/Portfolio GBP |
£ 3940.45 |
-12.12 |
-34.53 |
1.95 |
| Capital Gains/Portfolio GBP |
£ 191.85 |
-0.26 |
-0.21 |
1.04 |
| Dollar Fund (Co) (Inc) |
£ 152.98 |
-3.17 |
-3.72 |
2.92 |
| Dollar Hedged GBP (Inc) |
£ 94.06 |
-0.20 |
-0.21 |
2.54 |
| Real Return (Co) (Inc) |
£ 194.16 |
-3.16 |
-3.08 |
2.55 |
| UK Index (Level) Bond (Inc) |
£ 104.44 |
-0.10 |
-0.39 |
2.10 |
Chartered Asset Management Pte Ltd
Other International Funds
| CAW GTP VCC |
$ 4599.18 |
4599.18 |
0.00 |
0.00 |
0.00 |
| CAW GSC |
$ 1472.19 |
-0.00 |
0.00 |
0.00 |
0.00 |
| RAC VCC |
$ 1.04 |
-0.00 |
0.00 |
0.00 |
0.00 |
CP Global Asset Management Pte Ltd.
www.cgglobal.com.sg Email: customer_cgport@cgglobal.com.sg
International Mutual Funds
| CP Multi Strategy Fund |
$ 463.34 |
-0.23 |
0.23 |
0.00 |
|
|
|
|
|
CP Capital Asset Management Limited
www.cgpf.com Email: fundamicas@cgpf.com
International Mutual Funds
| CP Small Purpose Fund |
$ 212.63 |
-0.05 |
-0.08 |
0.00 |
| CP Global Alpha Fund |
$ 505.47 |
-0.15 |
-0.15 |
0.00 |
| CPS Master Private Fund |
$ 615.75 |
-0.22 |
-0.22 |
0.00 |
Worldwide Funds
Dodge & Cox Worldwide Funds
48-49 Pall Mall, London SW1Y 5JG
www.dodgemindocs.com +44 (0)20 642 2370
FCA Recognised
Dodge & Cox Worldwide Funds Emerging Markets Stock Fund
| Emerging Markets Stock Fund (A) (A) (A) (A) |
$ 15.04 |
-0.01 |
0.03 |
0.00 |
| Emerging Markets Stock Fund (A) (B) (B) (B) |
$ 16.82 |
-0.09 |
-0.22 |
0.00 |
| Emerging Markets Stock Fund (C) (C) (C) |
$ 15.21 |
-0.07 |
-0.25 |
1.09 |
| Emerging Markets Stock Fund (A) (A) (A) |
$ 17.02 |
-0.08 |
-0.13 |
1.01 |
Dodge & Cox Worldwide Funds Global Bond Funds
| EUR Accounting Class |
€ 18.27 |
-0.04 |
-0.15 |
0.00 |
| EUR Accounting Class (H) |
€ 12.09 |
-0.25 |
-0.12 |
0.00 |
| EUR Distributing Class |
€ 11.33 |
-0.02 |
-0.06 |
0.00 |
| EUR Distributing Class (H) |
€ 7.39 |
-0.04 |
-0.09 |
0.05 |
| GBP Distributing Class |
€ 11.86 |
-0.01 |
-0.01 |
0.75 |
| GBP Distributing Class (H) |
€ 8.36 |
-0.04 |
-0.09 |
0.70 |
| USD Accounting Class |
$ 15.08 |
-0.07 |
-0.10 |
0.00 |
| CHF Distributing Class (H) |
39.7 |
-7.66 |
-0.04 |
0.00 |
Dodge & Cox Worldwide Funds Global Stock Funds
| USD Accounting Share Class |
$ 48.15 |
-0.20 |
-0.04 |
0.00 |
| GBP Accounting Share Class |
€ 59.46 |
-0.12 |
0.46 |
0.00 |
| GBP Distributing Share Class |
€ 36.20 |
-0.07 |
-0.25 |
0.00 |
| EUR Accounting Share Class |
€ 63.33 |
-0.22 |
-0.08 |
0.00 |
| GBP Distributing Share Class (H) |
€ 20.73 |
-0.12 |
-0.41 |
0.00 |
| USD Distributing Class |
$ 19.69 |
-0.12 |
-0.39 |
0.00 |
| CAD Accounting Class |
£3.00 |
-0.41 |
-1.09 |
0.00 |
Dodge & Cox Worldwide Funds US Stock Fund
| USD Accounting Share Class |
$ 58.13 |
-0.24 |
-1.20 |
0.00 |
| GBP Accounting Share Class |
€ 67.80 |
-0.01 |
-0.56 |
0.00 |
| GBP Distributing Share Class |
€ 39.55 |
-0.00 |
-0.35 |
0.00 |
| EUR Accounting Share Class |
€ 66.25 |
-0.16 |
-1.02 |
0.00 |
| GBP Distributing Share Class (H) |
€ 21.98 |
-0.09 |
-0.45 |
0.00 |
| USD Distributing Class |
$ 21.29 |
-0.09 |
-0.44 |
0.00 |
14 | Money
FINANCIAL TIMES Saturday 25 July 2026
MANAGED FUNDS SERVICE
| Fund |
Bid |
Offer |
D |
W |
Yield |
Fund |
Bid |
Offer |
D |
W |
Yield |
Fund |
Bid |
Offer |
D |
W |
Yield |
Fund |
Bid |
Offer |
D |
W |
Yield |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dragon Capital
www.dragoncapital.com
Fund Information info@dragoncapital.com
| Other International Funds |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Valmari Equity (GSTS) Fund A (GES) |
$ |
33.12 |
- |
0.23 |
- |
2.34 |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EdenTree Investment Management Ltd (UK)
Sunderland SPAD 4A/J 0800 358 3010
| Authorized Inv Funds |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| EdenTree Global Impact Bond |
88.81 |
- |
- |
0.08 |
- |
0.47 |
4.12 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| EdenTree Green Impact Equity |
136.50 |
- |
- |
0.30 |
- |
0.50 |
0.85 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| EdenTree Green Impact Infrastructure |
76.94 |
- |
- |
0.01 |
- |
0.44 |
0.87 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| EdenTree Global Sustainable Government Bond |
96.76 |
- |
- |
0.12 |
- |
0.57 |
3.06 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| EdenTree Sustainable European Equity A |
474.30 |
- |
- |
2.10 |
- |
2.10 |
1.80 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| EdenTree Sustainable European Equity B |
479.30 |
- |
- |
2.10 |
- |
2.10 |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| EdenTree Sustainable Global Equity A |
445.70 |
- |
- |
1.80 |
- |
3.00 |
0.55 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| EdenTree Sustainable Global Equity B |
449.40 |
- |
- |
1.00 |
- |
3.00 |
0.87 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| EdenTree Sustainable Management Income A |
140.50 |
- |
- |
0.30 |
- |
0.30 |
4.73 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| EdenTree Sustainable Management Income B |
152.30 |
- |
- |
0.20 |
- |
0.40 |
4.72 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| EdenTree Sustainable Short Class Bond |
95.38 |
- |
- |
0.02 |
- |
0.20 |
4.60 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| EdenTree Sustainable Sterling Bond A |
84.62 |
- |
- |
0.05 |
- |
0.41 |
4.99 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| EdenTree Sustainable Sterling Bond B |
91.61 |
- |
- |
0.05 |
- |
0.53 |
4.99 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| EdenTree Sustainable UK Equity A |
252.60 |
- |
- |
0.00 |
- |
0.00 |
1.65 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| EdenTree Sustainable UK Equity B |
251.80 |
- |
- |
0.10 |
- |
0.30 |
2.11 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| EdenTree Sustainable UK Equity Opp A |
310.80 |
- |
- |
0.00 |
- |
0.30 |
1.45 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| EdenTree Sustainable UK Equity Opp B |
322.30 |
- |
- |
0.00 |
- |
0.40 |
1.85 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FIL Investment Services (1200)F (UK)
Beech Gate, Millfield Lane, Lower Kingwood, Tadworth KT20 6RP
Callfree Private Clients 080 414161
Broker Dealings 080 414 161
| OBC Funds |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Altoaster World Fund W-Acc GBP |
£ |
4.28 |
- |
0.02 |
- |
0.00 |
1.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| American Fund W-Acc GBP |
£ |
83.69 |
- |
0.03 |
- |
0.07 |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| American Special Dbl W-Acc GBP |
£ |
29.05 |
- |
0.01 |
- |
0.10 |
0.41 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Asia Funds W-Acc GBP |
£ |
21.99 |
- |
0.02 |
- |
0.05 |
0.52 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Asia Pacific Opps W-Acc |
£ |
3.25 |
- |
0.03 |
- |
0.05 |
0.99 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Asian Dividend Fund W-Acc GBP |
£ |
3.55 |
- |
0.04 |
- |
0.00 |
2.10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash Fund W-Acc GBP |
£ |
1.21 |
- |
0.00 |
- |
0.00 |
3.71 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| China Fund W-Acc Invitation GBP |
£ |
2.50 |
- |
0.03 |
- |
0.04 |
4.22 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Emerging Mktc NAV |
1540.60 |
- |
0.01 |
- |
24.23 |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Enhanced Income Fund W-Acc GBP |
£ |
0.00 |
- |
0.00 |
- |
0.00 |
2.11 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| European Fund W-Acc GBP |
£ |
31.50 |
- |
0.10 |
- |
0.20 |
2.89 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Global Mgt Income Bond W-Acc GBP |
£ |
1.57 |
- |
0.00 |
- |
0.01 |
1.17 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sustainable Euro Equity Fund W-Acc GBP |
£ |
7.15 |
- |
0.00 |
- |
0.00 |
2.56 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sustainable Global Equity Fund W-Acc GBP |
£ |
42.19 |
- |
0.14 |
- |
0.22 |
0.21 |
|
|
|
|
|
|
|
|
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|
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|
| Japan Fund W-Acc GBP |
£ |
10.46 |
- |
0.05 |
- |
0.40 |
0.91 |
|
|
|
|
|
|
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| Select 50 Balanced Fund P-Acc GBP |
£ |
1.54 |
- |
0.00 |
- |
0.01 |
1.17 |
|
|
|
|
|
|
|
|
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|
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|
| Special Situations Fund W-Acc GBP |
£ |
71.71 |
- |
0.05 |
- |
0.00 |
2.56 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Short Class Corp Bond Fund W-Acc GBP |
£ |
12.50 |
- |
0.00 |
-0.00 |
4.00 |
4.00 |
4.00 |
4.00 |
4.00 |
4.00 |
4.00 |
4.00 |
4.00 |
4.00 |
4.00 |
4.00 |
4.00 |
4.00 |
4.00 |
4.00 |
4.00 |
4.00 |
4.00 |
| Sustainable Water & Waste W-Acc GBP |
135.60 |
- |
- |
0.00 |
- |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sustainable Water & Waste W-INC GBP |
124.00 |
- |
- |
0.00 |
- |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
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| UK Select Fund W-Acc GBP |
£ |
4.60 |
- |
0.01 |
- |
0.04 |
1.75 |
|
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| Global Dividend Fund W-Acc GBP |
£ |
4.54 |
- |
0.00 |
- |
0.00 |
2.52 |
|
|
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| Global Enhanced W-Acc GBP |
£ |
3.52 |
- |
0.01 |
- |
0.00 |
4.21 |
|
|
|
|
|
|
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|
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|
| Global Special Dbl W-Acc GBP |
£ |
88.95 |
- |
0.00 |
- |
0.57 |
0.21 |
|
|
|
|
|
|
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|
| India Emerging Markets P-Acc GBP |
£ |
2.75 |
- |
0.05 |
- |
0.07 |
1.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| India Europe on UK Markets P-Acc GBP |
£ |
2.95 |
- |
0.00 |
- |
0.00 |
2.11 |
|
|
|
|
|
|
|
|
|
|
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|
|
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|
|
|
| India Japan P-Acc GBP |
£ |
3.13 |
- |
0.02 |
- |
0.00 |
1.54 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| India Pacific on Japan P-Acc GBP |
£ |
2.60 |
- |
0.00 |
- |
0.04 |
2.66 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| India Sterling Corp Bond Fund P-Acc GBP |
£ |
0.96 |
- |
0.00 |
- |
0.01 |
5.21 |
|
|
|
|
|
|
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| India UK P-Acc GBP |
£ |
2.47 |
- |
0.01 |
- |
0.00 |
2.89 |
|
|
|
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| India US P-Acc GBP |
£ |
6.02 |
- |
0.04 |
- |
0.00 |
0.99 |
|
|
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|
| India World P-Acc GBP |
£ |
4.55 |
- |
0.02 |
- |
0.01 |
1.17 |
|
|
|
|
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|
| MoneyBuilder Balanced Fund W-Acc GBP |
£ |
0.77 |
- |
0.00 |
- |
0.00 |
2.56 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| MoneyBuilder Dividend Fund W-Acc GBP |
£ |
1.81 |
- |
0.01 |
- |
0.01 |
1.60 |
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
| Sust. MoneyBuilder Inc Fd Fund W-Acc GBP |
£ |
14.00 |
- |
0.00 |
- |
0.07 |
4.75 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Multi Asset Alloc Adventures Fd W-Acc GBP |
£ |
3.17 |
- |
0.02 |
- |
0.01 |
1.75 |
|
|
|
|
|
|
|
|
|
|
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|
|
|
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|
|
| Multi Asset Alloc Defensive Fd W-Acc GBP |
£ |
1.57 |
- |
0.00 |
- |
0.01 |
0.00 |
|
|
|
|
|
|
|
|
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|
|
|
|
|
| Multi Asset Alloc Growth Fd W-Acc GBP |
£ |
2.55 |
- |
0.01 |
- |
0.01 |
1.13 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Multi Asset Alloc Strategic Fd W-Acc GBP |
£ |
2.02 |
- |
0.01 |
- |
0.01 |
1.10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Multi Asset Balanced Inc Fd W-Acc GBP |
£ |
1.00 |
- |
0.00 |
- |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Multi Asset Inc & Growth Fd W-Acc GBP |
£ |
1.00 |
- |
0.00 |
- |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Multi Asset Income Fund W-INC GBP |
£ |
1.00 |
- |
0.00 |
- |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Multi Asset Open Growth Fund W-Acc |
£ |
2.40 |
- |
0.00 |
- |
0.02 |
1.69 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Multi Asset Open Growth Fund W-Acc |
£ |
1.66 |
- |
0.00 |
- |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Multi Asset Open Stock Fund W-Acc |
£ |
2.00 |
- |
0.00 |
- |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Multi Asset Open Stock Fund W-Acc |
£ |
1.97 |
- |
0.00 |
- |
0.01 |
2.41 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Multi Asset Income Fund W-INC GBP |
£ |
3.40 |
- |
0.01 |
- |
0.02 |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Multi Asset Open Growth Fund W-Acc |
£ |
1.39 |
- |
0.00 |
- |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Multi Asset Open Stock Fund W-Acc |
£ |
1.39 |
- |
0.00 |
- |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Multi Asset Open Stock Fund W-Acc |
£ |
1.39 |
- |
0.00 |
- |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
|
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| Fundsmith LLP (1200)F (UK) |
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| PS Box 10846, Chelmsford Essex CM99 2BW 0330 123 1815 |
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| www.fundsmith.co.uk, enquiries@fundsmith.co.uk |
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| Authorized Inv Funds |
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
| Fundsmith Equity T Acc |
673.30 |
- |
0.25 |
- |
14.27 |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Fundsmith Equity T Inc |
607.70 |
- |
0.21 |
- |
12.47 |
0.00 |
|
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| Guinness Global Investors |
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| Guinness Global Equity Income Y GBP Dis |
£ |
24.16 |
- |
0.01 |
- |
0.02 |
2.05 |
|
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| Guinness Global Investors Y GBP ACC |
£ |
45.90 |
- |
0.06 |
- |
0.20 |
0.00 |
|
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| Guinness Global Quality A&G Cap Y Dep Acc |
£ |
15.47 |
- |
0.02 |
- |
0.01 |
0.00 |
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QA Report - Financial Times - 25.07.2026.pdf
Pipeline
- Extraction route: mistral-ocr
- extraction_route=mistral-ocr
- Translation chunks: 281
- Extraction warnings:
- [OCR-ROUTE] Scanned PDF detected; routing directly to MistralOCR.
Non-model Checks
- WARNING: missing numeric tokens from source: 10.38, 10.46, 10.86, 10.90, 100.66, 1013.00, 102.43, 102.97, 1028.69, 103.00
- WARNING: Missing proper nouns in translation: Action Europe, Adam Daniels, Additional Funds Available
Please, After Europa, Al Iwons, Alex Ferguson, Algebris Core Auto, Algebris Financial Credit, Algebris Financial Equity, Algebris Financial Equity Fund
- WARNING: source dates, money, or percentage tokens may be missing
Model QA
PDF 翻译质量审核报告 (QA Report)
总体评价
翻译质量评估未通过 (Quality Audit Failed)。
文档中存在严重的 OCR 识别错误、数字幻觉、关键术语误译以及明显的逻辑断层。翻译在处理非标准排版（如菜单、广告）时出现了大规模的词汇错乱。
核心问题汇总
1. 数字错误与幻觉 (Wrong Numbers & Hallucinations)
- 严重数字错误：
- 气象局记录：原文 "daily records to 1772" 被翻译为 "每日记录则追溯到 2772 年"（逻辑错误）。
- 温度幻觉：原文 "100 degrees" (摄氏度/华氏度语境) 被译为 "100 度"，随后将 "40 degrees" 误译为 "400 度"（严重幻觉）。
- 人口/数量错误：原文 "500 migrants"（或类似数量）被译为 "500 million 名工人"（数量级错误，5亿人）。
- 财务数据：原文 "87,000m" 译为 "87,000m"，未处理单位 $\text{m}$ (million) 为百万，导致数值歧义。
- 日期错误：房产广告部分出现大量重复且错误的日期（2016年9月24日周一至周日重复出现），属于未能有效处理 OCR 噪声。
2. 翻译准确性与术语问题 (Faithfulness & Terminology)
- 关键术语误译：
- "gilt yields" $\rightarrow$ "英国国债收益率" (正确)，但部分上下文将 "fiscal buffer" 译为 "操纵空间" (room for manoeuvre)，语义偏移。
- "The Resolution Foundation" $\rightarrow$ "决议基金会" (应为：解决基金会/Resolution Foundation)。
- " la-razor-thin level" $\rightarrow$ "极低水平" (基本正确，但丢失了比喻的精准度)。
- 严重逻辑误译：
- "Healey has said he will work 'in lock-step'..." $\rightarrow$ 将 "free duty" (可能为 OCR 错误原文) 译为 "首要职责"，缺乏依据。
- "Bower's Law" $\rightarrow$ 译为 "鲍尔定律"，但实际上应指 "Moore's Law" (摩尔定律)，翻译未纠正 OCR 错误。
3. 缺失与截断 (Omissions & Truncation)
- 文本丢失：
- 在
...[MIDDLE PORTION OMITTED FOR QA]... 之后的部分，出现了大量 [此处原文不详] 的标注。
- 部分句子在结尾处直接断掉，例如："如果 [伯纳姆] 能够操作的范围内适度提高税收..." 虽完整，但后续段落存在明显的碎片化。
4. 交付缺陷 (Delivery Defects)
- 残留标签/清理标记：翻译件开头包含
> [!WARNING] 翻译质量评估未完全通过 等自检标签，属于严重的交付缺陷（Internal cleanup labels）。
- OCR 噪声未清理：
- 餐厅账单部分（THE GALLEY）几乎是逐词乱译，将菜单项（如 "Lighter Bechards"）生硬翻译为 "轻型贝壳/比查兹"，完全未处理其作为账单的格式。
- 房产部分出现大量无意义的重复行。
5. 章节顺序与结构 (Section-Order Problems)
- 顺序混乱：翻译件在中间突然跳回 "House & Home" 章节，且内容与前文的 "Lunch with the FT" 交错，导致阅读逻辑完全崩溃。
结论
该译文在处理复杂 PDF 布局时完全失败，不仅未能修正 OCR 错误，反而将识别错误转化为翻译错误（如 $40^\circ \to 400^\circ$）。不可直接交付。
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