Popular Las Vegas Sphere Lost $98.4 Million Since Opening

Nov 13 2023

The Las Vegas Sphere, a highly anticipated new venue that debuted with a residency by the renowned Irish rock band U2 in September, has faced significant financial challenges.

Owned and operated by the parent company of Madison Square Garden, the multi-billion dollar venue reported a revenue of $118 million USD, reflecting a substantial 71% decrease from the previous year, according to a report from The New York Post.

Despite an impressive opening with sold-out U2 shows generating $4.1 million USD and an additional $2.6 million from suite licensing and advertising on its exosphere, the venue seems to have lost momentum.

Gautam Ranji, the Sphere’s CFO, reportedly resigned, as indicated in an SEC filing. The filing clarified that his departure was unrelated to disagreements with auditors or management.

However, The NY Post suggested that Ranji’s abrupt resignation followed an incident where CEO James Dolan was observed “yelling and screaming” at him. The company, while acknowledging the CFO’s departure, expressed confidence in its ability to drive long-term value for shareholders.

As speculation lingers about the viability of the Sphere as a sound investment, the venue’s future remains uncertain despite its initial attention-grabbing launch.

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Elon Musk Could Be Getting A Movie About His Life

Nov 13 2023

An upcoming biopic on billionaire tech mogul Elon Musk is set to materialize as independent studio A24 secures the adaptation rights to Walter Isaacson’s latest biography.

The acquisition came after a competitive bidding war, with A24 emerging victorious, and renowned director Darren Aronofsky, known for Black Swan, at the helm of the project.

Isaacson’s authorized biography, published in September, faced criticism for lacking insights, deemed by some as a “dull, insight-free doorstop of a book.”

Aronofsky, recognized for his recent work on The Whale, starring Brendan Fraser, and the Oscar-nominated Black Swan, adds his directorial prowess to the venture.

The biopic will delve into Musk’s complex life, shaped by his South African upbringing and strained relationship with his father, Errol. Musk, the 52-year-old CEO and CTO of SpaceX, chairman and CTO of X Corp (formerly Twitter), and CEO of Tesla, faced legal challenges in 2018, resulting in a fine and his resignation as Tesla’s chairman.

Despite controversies, Musk currently holds the top spot on Forbes’ Real Time Billionaires list with a staggering net worth of $223.8 billion (£183.2 billion).

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Should Teaching In Public Schools Be In Maltese, PN MEP Candidate Asks

Nov 13 2023

‘How much should we change as a society to adapt to foreigners in our country’, Nationalist Party MEP Candidate Peter Agius asked when visiting the Marsa primary school.

At the school, Agius said, and like many other schools around the island, the teaching which used to take place in Maltese now takes place in English.

‘This is because you will have three or four foreign students in class who do not have impetus from their family to learn the Maltese language’, Agius said.

The MEP candidate said that when meeting with the relevant authorities, he needs to address them in Danish or French. ‘He won’t learn Maltese for me?’

‘Do we have a sense of Maltese identity wherein we teach our children Maltese? I am not saying that parents who want to teach their kids in English shouldn’t be allowed to. They have every right.’

‘Was there a discussion with the parents? And if foreigners are coming from abroad to work, shouldn’t they make the effort to learn the Maltese language?’

What do you think? Should there be specialised schools solely in English?

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Increase Of 55% In Cruise Passenger Traffic In Last 3 Months

Nov 13 2023

In the third quarter of 2023, the total cruise passenger traffic surged by 55.8%, reaching 348,268 passengers, compared to the same period last year.

The quarter witnessed 108 cruise liner calls, marking an increase of 11 calls compared to the corresponding quarter in the previous year. Transit passengers dominated the traffic, constituting 83.6% and totaling 291,216 passengers.

On average, each berthed vessel in Malta carried 3,225 passengers, a notable rise of 921 from the previous year.

Passengers from EU Member States represented 59.6% of the total traffic, with Italy contributing 25.3% and Germany following at 11.7%. Non-EU countries contributed 140,544 passengers, with the United Kingdom and the United States accounting for 40.7% and 28.9%, respectively.

In terms of gender, female passengers comprised 52.9% of the total, and the largest age group was 40-59 years, making up 36.9%.

For the first three quarters of the year, total cruise passengers amounted to 645,567, with 58.0% originating from EU Member States. The majority of passengers were female (53.3%), and the age group of 40-59 years constituted the largest share at 35.5%.

There were 227 cruise liner calls during this period, with an average of 2,844 passengers per vessel, reflecting a significant increase from the previous year. Read the full NSO report here.

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