Ben Goldwasser, left, and Andrew VanWyngarden of the band MGMT perform at the Coachella Valley Music and Arts Festival in Indio, California.
Ben Goldwasser, left, and Andrew VanWyngarden of the band MGMT perform at the Coachella Valley Music and Arts Festival in Indio, California.

Giving fans what they don't necessarily want



Picture the scene. You're at a gig you've looked forward to for ages. The hits from the band in question have soundtracked your every move for the past six months. This will be an evening where you can let yourself go and sing along to your favourite songs at top volume. And then the frontman leans into the mic and tells you: "This one's a new one." It's one of the most deflating sentences in the rock lexicon, but shouldn't it actually be one of the most encouraging?

Such brave decisions to give the crowd what the artists think they need are becoming more and more prevalent. Take Tom Jones, who's just played to a packed crowd at the Latitude festival in England. His audience - surprisingly diverse in age and tastes - had come prepared to hear songs from his excellent new album Praise & Blame, but also had every right to expect they would sing along to Sex Bomb, Delilah or It's Not Unusual. Instead, Jones ambled his way through Praise & Blame in its entirety, thanked everyone profusely for staying with him, and left. For a man well versed in giving his fans exactly what they want, it was probably a rather odd experience for him, too.

In the end, Jones played a great set. But he's not been alone this year in surprising an expectant throng. Earlier this month, Lou Reed played to a chorus of boos as he "treated" his audience to, as one member put it to the Montreal Gazette, "discordant noise lacking melody, style, beauty or skill". There was certainly no Walk On The Wild Side, despite that classic song from his Velvet Underground days earning an explicit mention in the programme.

True, there was a clue that this would be no ordinary show. Reed was playing the Montreal International Jazz Festival. But it didn't prevent people from walking out after his bandmate John Zorn invited those who had paid nearly U$100 and didn't think they were listening to "music" to do just that. In the end, surprisingly, concertgoers who did leave and asked for a refund actually got their money back.

It's not just the "heritage acts" who play fast and loose with their own back catalogues. MGMT's return to touring earlier this year was remarkable not just for the fact that the new record they were promoting, Congratulations, contains absolutely no hit singles whatsoever. They also refused to play Kids, their most recognisable song to date. All of which was perhaps understandable - MGMT wanted to concentrate on their new material - but in the end remarkably arrogant. It's a five-minute song everybody in the crowd would have wanted to hear. Could they really not have spared the time to play it?

At the same time, though, such determination to confront audience expectations should be applauded. If you're about to see a big band, such as Coldplay or U2, playing live, going on the fan forums beforehand is like reading a spoiler for a forthcoming film. The set lists for these groups are immoveable beasts - thanks to the tightly choreographed pyrotechnics, no doubt - which remain unchanged from city to city. It means it's easy for arena bands simply to go through the motions.

So there's a genuinely wide chasm between purely entertaining an audience and making a live artistic statement. It's not a dilemma confined to music, either. The comedian Rhod Gilbert often bemoans the inherent paradox in stand-up comedy. If he creates a set of all-new material, then he runs the risk of disappointing fans who, often, have learnt his best jokes via the best-selling DVD and want to hear them retold, live. But if he does choose to include some of his better work collated over the years, he's accused of re-hashing the same old jokes.

Surely, though, we want our favourite bands and comedians to keep developing creatively. It's what keeps them fresh, vital, interesting. It's just that it appears we'd prefer them not to do so in the live arena - where somehow they're shortchanging the fans by not playing a crowd-pleasing set. So is there a nice, utopian middle ground where the hits intermingle with promise of some (good) new material? Yes. It's those tours where a band plays an album in its entirety and then some other fan favourites in the encore. You know exactly what you're getting with them. But who ever wanted rock'n'roll to be that boringly prescriptive?

The Perfect Couple

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5

Brolliology: A History of the Umbrella in Life and Literature
By Marion Rankine
Melville House

Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

The 12 Syrian entities delisted by UK 

Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

Griselda
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The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

At a glance

Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.

 

Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year

 

Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

 

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30 

 

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

 

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

 

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

Company%20Profile
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UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Young women have more “financial grit”, but fall behind on investing

In an October survey of young adults aged 16 to 25, Charles Schwab found young women are more driven to reach financial independence than young men (67 per cent versus. 58 per cent). They are more likely to take on extra work to make ends meet and see more value than men in creating a plan to achieve their financial goals. Yet, despite all these good ‘first’ measures, they are investing and saving less than young men – falling early into the financial gender gap.

While the women surveyed report spending 36 per cent less than men, they have far less savings than men ($1,267 versus $2,000) – a nearly 60 per cent difference.

In addition, twice as many young men as women say they would invest spare cash, and almost twice as many young men as women report having investment accounts (though most young adults do not invest at all). 

“Despite their good intentions, young women start to fall behind their male counterparts in savings and investing early on in life,” said Carrie Schwab-Pomerantz, senior vice president, Charles Schwab. “They start off showing a strong financial planning mindset, but there is still room for further education when it comes to managing their day-to-day finances.”

Ms Schwab-Pomerantz says parents should be conveying the same messages to boys and girls about money, but should tailor those conversations based on the individual and gender.

"Our study shows that while boys are spending more than girls, they also are saving more. Have open and honest conversations with your daughters about the wage and savings gap," she said. "Teach kids about the importance of investing – especially girls, who as we see in this study, aren’t investing as much. Part of being financially prepared is learning to make the most of your money, and that means investing early and consistently."

if you go
BORDERLANDS

Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis

Director: Eli Roth

Rating: 0/5

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

RedCrow Intelligence Company Profile

Started: 2016

Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel 

Based: Ramallah, Palestine

Sector: Technology, Security

# of staff: 13

Investment: $745,000

Investors: Palestine’s Ibtikar Fund, Abu Dhabi’s Gothams and angel investors

The specs

Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5