This week sees the beginning of the end for one of the most popular franchises of the past decade. The Twilight Saga: Breaking Dawn, the last of Stephenie Meyer's books divided into two movies by the studio Summit, promises to be a controversial end to a controversial series.
The vampire/werewolf/humanlove triangle has earned millions of fans (and billions of dollars) around the globe, but they have also had their share of detractors, as well as criticism. So, is Breaking Dawn: Part One, released in the UAE today, a victory lap for a fine series of movies, or a welcome end to just another over-hyped Hollywood craze?
Released in 2008, Twilight was an overwhelming success at the box office, thanks largely to a teenage audience who were either fans of the book or enamoured of the film's British star, Robert Pattinson. A sequel followed, and by the time the third instalment, Eclipse, was released, the series was close to making US$2 billion (Dh7.3bn) in worldwide box-office receipts - a success that few could argue with. The movies sparked a vampire "craze" in Hollywood, with many films and TV series developed, such as True Blood and The Vampire Diaries. Even the Harry Potter franchise, another multibillion dollar series, planned its release dates to avoid conflict with Twilight, after the first film capitalised on Warner Bros moving the release of The Half-Blood Prince from November 2008 to July 2009.
The most vocal supporters of the series are, of course, the infamous loyal fan base, unofficially nicknamed "Twi-Hards". From creating their own terminology (the phrases "Team Edward" and "Team Jacob" are now widely used to reference someone who is a fan of either Robert Pattinson's or Taylor Lautner's characters in the series), to the hordes of fans who visit the town of Forks, Washington, where the books are set, they make their presence felt wherever the actors are. There are more extreme samples of fan devotion: Pattinson admits fans regularly ask him to bite them, while even relatively minor characters of the franchise have been subject to some odd behaviour. Kellan Lutz, who plays Emmett Cullen in the films, revealed at a press conference: "[A fan] asked for an autograph and asked if she could take me home, then she yanks out this big old pair of handcuffs!" Similarly, the security of many of the film's cast has become an issue, with fans becoming more and more determined in their quests to meet their idols.
As with any successful brand, the voracity of fans is just one of the many negative aspects of the series that critics of the films have targeted. Portrayed as rabid, almost violently protective of the saga, they have been lampooned in many areas of popular culture, even in a short satirical video by Cam Gigandet, the first film's villain, in a comedy video where "fans" mistake him for his character and attack him.
The sombre tone of both the books and even the acting ability of the stars have been the subject of fierce criticism and satire. The popular series Supernatural pokes fun at the awkwardness of both Pattinson and Kristen Stewart's performances in their episode Live Free or Twi-Hard, while The Simpsons mocks the films in one of its Halloween specials in a segment called "Tweenlight", where the Harry Potter star Daniel Radcliffe plays a Pattinson-like character named Edmund. Critically, the films have always been met with a mixed reception, with the consensus being that while they may delight fans of the books, newcomers to the stories will find little to enjoy.
The success of the series may also prove a negative factor to its principle stars, Pattinson and Stewart, as the threat of typecasting looms large in their "post-Twilight" careers. Stewart, in particular, has made efforts to distance her future projects from the series, with the New York Daily News reporting that the success of the films had "caught her off guard", leading her to turn down the coveted role of Lois Lane in Zack Snyder's Superman. Pattinson himself has stuck to drama roles outside of the franchise, although many critics have commented it is difficult to separate the actor from his most famous role outside of the films.
The series ends with Part 2, expected out in November next year, and studios are already preparing franchises with the intention of grabbing the attention of the Twilight fans. Front runners include the adaptation of Suzanne Collins's The Hunger Games, and Stephenie Meyer's non-Twilight book The Host. Something both fans and critics can agree on is that, regardless of the merits of the series, the final instalments promise to be a huge box office event. In particular, how the director Bill Condon (Dreamgirls) plans to portray the final book's controversial and graphic scene, where Bella is almost fatally injured giving birth to a half vampire, half human child, is the source of some speculation. It remains to be seen whether the series will stand the test of time, but the immediate legacy will be that, for a few years at least, much of the world has gone vampire crazy.
ENGLAND SQUAD
Goalkeepers: Jack Butland, Jordan Pickford, Nick Pope
Defenders: John Stones, Harry Maguire, Phil Jones, Kyle Walker, Kieran Trippier, Gary Cahill, Ashley Young, Danny Rose, Trent Alexander-Arnold
Midfielders: Eric Dier, Jordan Henderson, Dele Alli, Jesse Lingard, Raheem Sterling, Ruben Loftus-Cheek, Fabian Delph
Forwards: Harry Kane, Jamie Vardy, Marcus Rashford, Danny Welbeck
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.”
Syria squad
Goalkeepers: Ibrahim Alma, Mahmoud Al Youssef, Ahmad Madania.
Defenders: Ahmad Al Salih, Moayad Ajan, Jehad Al Baour, Omar Midani, Amro Jenyat, Hussein Jwayed, Nadim Sabagh, Abdul Malek Anezan.
Midfielders: Mahmoud Al Mawas, Mohammed Osman, Osama Omari, Tamer Haj Mohamad, Ahmad Ashkar, Youssef Kalfa, Zaher Midani, Khaled Al Mobayed, Fahd Youssef.
Forwards: Omar Khribin, Omar Al Somah, Mardik Mardikian.
Saturday's results
Brighton 1-1 Leicester City
Everton 1-0 Cardiff City
Manchester United 0-0 Crystal Palace
Watford 0-3 Liverpool
West Ham United 0-4 Manchester City
Overview
Cricket World Cup League Two: Nepal, Oman, United States tri-series, Tribhuvan University, Kathmandu
Fixtures
Wednesday February 5, Oman v Nepal
Thursday, February 6, Oman v United States
Saturday, February 8, United States v Nepal
Sunday, February 9, Oman v Nepal
Tuesday, February 11, Oman v United States
Wednesday, February 12, United States v Nepal
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Company%C2%A0profile
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First Person
Richard Flanagan
Chatto & Windus
Company profile
Name: Thndr
Started: October 2020
Founders: Ahmad Hammouda and Seif Amr
Based: Cairo, Egypt
Sector: FinTech
Initial investment: pre-seed of $800,000
Funding stage: series A; $20 million
Investors: Tiger Global, Beco Capital, Prosus Ventures, Y Combinator, Global Ventures, Abdul Latif Jameel, Endure Capital, 4DX Ventures, Plus VC, Rabacap and MSA Capital
How Tesla’s price correction has hit fund managers
Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.
It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.
The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.
Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.
Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.
He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.
AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”
A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.
Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.
Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.
Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.
By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.
Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.
In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”
Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.
She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.
Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.
Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
Company%20Profile
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