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The investment to transform historic St Helen’s ground in Swansea

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The famous rugby ground is being revamped and will host its first Ospreys in October.

St Helen's

Work has started transforming the St Helen’s ground in Swansea.(Image: John Myers)

Swansea Council has confirmed plans for a £7.6m investment to transform St Helen’s into a new home for professional rugby region the Ospreys which they believe will strengthen the club’s long-term commercial viability.

Preparatory work is under way on the first phase of redeveloping the ground, which will include a new pitch and a stand on the seafront side, as well as a new fan zone and community facilities.

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A report to the council’s cabinet says the existing clubhouse will come under the local authority’s ownership – it already owns the ground – and will provide modern changing facilities, accessible amenities and flexible indoor spaces for sport and wider community use, including non-sporting events and functions.

A new 3G pitch will be repositioned closer to a newly-covered terrace to improve the atmosphere and spectator experience. The existing stand will be relocated to the Mumbles end, with a new stand seating close to 2,000 replacing it on the seafront side. A new fan zone and hospitality offer at the Guildhall end will create a focal point for matchdays and year-round activity.

The council said the revamped ground will also be used for grassroots sport, schools and colleges, while promoting healthier and more active lifestyles across Swansea.

St Helen's

(Image: John Myers)

Subject to cabinet sign-off, the council will make a £5.1m capital contribution with the Ospreys’ owners, Y11 Sport and Media, investing £2.5m. It was originally envisaged that the total investment at St Helen’s would be around £5m.

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Y11 has acquired temporary stand infrastructure from Worcester Rugby to support the revamping of the historic ground. The Ospreys will enter into a 50-year lease with the council with an annual rent of around £100,000 per year, subject to inflation-linked reviews. The Ospreys will take full responsibility for matchday operations, including sporting and commercial. The upgraded ground and facilities will meet the standards required for the Ospreys to compete in the United Rugby Championship (URC) and European competition.

Swansea Council’s cabinet will discuss the proposals next week. Subject to health and safety assessments, the revamped ground will have a capacity for close to 7,000 spectators. Work is expected to be completed so the Ospreys can play their first home game in the 2026/27 URC season in October against the Dragons. Swansea RFC will also return to its historic home from Dunvant RFC. Swansea Cricket Club has relocated to Swansea Civil Service Cricket Club. Last year the Ospreys played at the Brewery Field in Bridgend.

Y11, which is majority-owned by Kuala Lumpur-based private equity firm Navis Capital, had been identified by the WRU as its preferred bidder to acquire Cardiff Rugby, which the union acquired out of administration last year. However, both parties walked from a proposed deal in April, having entered into an exclusivity period. The WRU has not disclosed what professional advisory fees it incurred before the planned deal was aborted.

The governing body, with the full backing of its board, is still looking to reduce the number of professional regions from the current four to three for the start of the 2028/29 URC season. It is expected to shortly provide details on how this will be achieved. One route would be for the Ospreys and the Scarlets to voluntarily merge, with the possibility of games being played between Parc y Scarlets and a revamped St Helen’s. However, if that is not forthcoming – and there is currently no indication that the two clubs would be open to such a move – they will find themselves having to bid against each other for a west Wales licence in a competitive tendering process from the union.

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On its financial position, the Ospreys is the least indebted of the regions. A new permanent home at St Helen’s, with the option for future phases to increase the ground’s capacity, would strengthen the case for the Ospreys if it went head-to-head with the Scarlets to secure the west Wales licence. Last year the Llanelli-based club entered into a deal with US-based luxury asset broker House of Luxury, set up by Pontypridd-born Kirsti Jane Baker, which gave the company an option to acquire a majority stake in the club. However, little has been heard recently from the Montana-registered business on whether it still intends to invest in the club by taking a 55% interest.

The investment in St Helen’s comes as the Ospreys have confirmed they have entered into an improved funding deal with the WRU, by signing up to Professional Rugby Agreement 25. It now leaves only the Scarlets still on the financially inferior PRA 23 deal.

Abi Tierney, chief executive of the Welsh Rugby Union said: “PRA25 creates greater alignment across rugby in Wales, and I am very pleased that constructive discussions with Y11 Sport and Media have led to the Ospreys signing the agreement.

” Three out of four of our regional men’s clubs are now on PRA25 and due diligence work with the Scarlets is continuing. We look forward to having all of our men’s professional teams on the agreement ahead of the start of the next United Rugby Championship in September.”

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Marianne Økland, chair of the Professional Rugby Board, said: “I have been very encouraged by the collaborative way negotiations between the WRU and the professional clubs have been conducted over recent months. This positive spirit is also evidenced by the meaningful progress made on the future model for the development pathways.”

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(VIDEO) Venezuela Earthquake Death Toll Rises to 920 as Rescue Teams Race Against the Closing Survival Window

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Venezuela Earthquake Death Toll Rises to 920 as Rescue Teams

CARACAS — The death toll from a pair of powerful earthquakes that struck Venezuela this week has climbed to at least 920, with more than 3,300 people injured and dozens still believed trapped beneath collapsed buildings, as international rescue teams worked through the weekend in what officials describe as a narrowing window to find survivors.

The disaster, among the deadliest in the country’s modern history, has overwhelmed a healthcare system already strained by years of economic crisis and left thousands of families searching for missing loved ones in a country with some of the most restricted media access in the world.

Twin quakes strike without warning

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The earthquakes struck Wednesday evening, just 39 seconds apart. A magnitude 7.2 foreshock hit at 6:04 p.m. local time near San Felipe in Yaracuy state, followed almost immediately by a magnitude 7.5 mainshock centered near the town of Morón on Venezuela’s Caribbean coast, roughly 100 miles west of Caracas. The U.S. Geological Survey identified the stronger quake as the most powerful to strike Venezuela since 1900, when a magnitude 7.7 earthquake hit the country.

USGS seismologist Paul Earle told NPR that earthquakes striking in such close succession is highly unusual. “This doesn’t happen very often,” Earle said. “When they’re right together, it’s hard to understand what would happen.” Earle added that USGS modeling estimated a 40% chance that a magnitude 6 or larger aftershock could strike the same region within a week, along with what he called an “almost certainty” of at least one quake measuring magnitude 5 or higher. At least 138 aftershocks have been recorded since the initial quakes, according to Venezuelan officials, complicating rescue efforts in already unstable structures.

A rising toll and a critical window closing

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As of Saturday morning, Jorge Rodríguez, president of Venezuela’s National Assembly, said the death toll stood at 920, with more than 3,300 injured and at least 172 people still believed trapped under rubble. The figure has climbed steadily since the quakes struck, rising from an initial count of 188 dead on Thursday to 589 by Friday morning and then surging past 900 by Saturday as search teams reached previously inaccessible areas.

The United Nations Office for the Coordination of Humanitarian Affairs has stressed the urgency of the search effort. “After an earthquake, the first 72 hours are critical to saving lives,” the agency said Friday, adding that in the search for survivors, “every second matters.” The U.N. agency said it had organized at least 17 international search teams, comprising more than 1,600 personnel and over 100 search dogs, working alongside Venezuelan responders.

La Guaira bears the brunt

The coastal state of La Guaira, just north of Caracas, has suffered the most severe damage of any region in the country. Acting President Delcy Rodríguez described the devastation in stark terms. “We can say that the state of La Guaira is experiencing a genuine tragedy and has become a disaster zone,” she said. A United Nations humanitarian agency reported that more than 100 buildings collapsed in La Guaira alone, with satellite imagery showing dozens of partially or fully flattened structures in the town of Caraballeda.

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With nowhere else to go, many displaced residents have taken to sleeping outdoors. In the city of Catia La Mar, families have set up temporary shelters on a baseball field, while others have told reporters they are too afraid to return to damaged buildings that remain standing but structurally compromised.

Overwhelmed hospitals and a struggling response

Venezuela’s healthcare system, already weakened by years of underfunding, has buckled under the surge of injured patients. Rodríguez said 13 hospitals across the country sustained damage in the earthquakes, and at least two hospitals — one in Caracas and one in La Guaira — have collapsed entirely, according to Caracas pediatrician Dr. Huniades Urbina-Medina, who told CNN that surviving facilities are now facing shortages of basic supplies including water, antibiotics, IV solution and anesthetics.

Frustration has grown among residents over what some describe as a slow and under-resourced official response. In some coastal communities, residents have called for civilian volunteers to assist with debris removal using “pickaxes and shovels” rather than wait for heavy machinery that has yet to arrive in critical areas.

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An international rescue effort takes shape

Foreign assistance has poured into Venezuela in the days since the quakes struck. Rescue convoys from Mexico, El Salvador and the Dominican Republic arrived by Friday, joining teams already on the ground, including elite search-and-rescue units from Fairfax County, Virginia, and Los Angeles County in the United States. A Miami-Dade Fire Rescue team of 80 personnel and six canine units also deployed to the region. Salvadoran rescuers were among those credited with locating a 15-year-old girl trapped on the ninth floor of a collapsed building in Catia La Mar.

U.S. Secretary of State Marco Rubio said on social media that Washington was “immediately deploying search and rescue teams, medical resources, and humanitarian assistance to Venezuela.” Acting President Rodríguez said she had received a call from President Donald Trump and Rubio, who she said “reaffirmed the United States Government’s support during this difficult time for Venezuela.”

A communications blackout complicates the crisis

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The disaster has unfolded against the backdrop of Venezuela’s tightly controlled information environment. According to monitoring group VE sin Filtro, more than 200 websites in the country remain blocked, including news outlets, social media platforms and tools used to circumvent censorship. The United Nations’ Independent International Fact-Finding Mission on Venezuela has urged authorities to “fully restore access to social networks and all media outlets,” warning that timely information will be “vital for the protection of the lives, safety, and well-being of the population.”

A crowdsourced website created to track missing persons, Desaparecidos Terremoto Venezuela, has logged more than 62,000 names since the earthquakes struck, with more than 52,000 of those individuals still listed as unaccounted for as of Friday. Those figures have not been independently confirmed by Venezuelan officials.

A nation already in crisis

The earthquakes struck a country already grappling with severe political and economic turmoil, compounding what was already one of the most difficult periods in Venezuela’s recent history. The timing of the disaster — coinciding with a national holiday when many residents were at home with their families rather than at work or school — may have limited casualties in commercial and institutional buildings, even as it left densely populated residential areas particularly vulnerable.

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As search efforts continue into the weekend, officials have acknowledged that the death toll is likely to keep rising. With hundreds still missing and rescue teams racing against deteriorating conditions in the rubble, the full scale of the tragedy may not become clear for days or weeks to come.

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Summer box office could lead to first $10 billion year since pandemic

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Summer box office could lead to first $10 billion year since pandemic
The summer box office has had a surprisingly strong start

Hollywood is having its best summer since before the pandemic, and that hot streak is putting the annual box office on pace to cross $10 billion for the first time in seven years.

The season, which runs from the first weekend in May through Labor Day, has tallied $1.8 billion so far through Sunday. That’s down less than 2% from 2019 levels, or just about a $30 million lag. Industry analysts keep a close eye on this period of the year because it typically accounts for about 40% of the total annual domestic box office.

“The summer box office is incredibly important,” said Paul Dergarabedian, head of marketplace trends at movie data company Rentrak. “It’s vitally important in terms of what the overall health of the industry looks like and what that portends for the entire year.”

What sets this summer apart is that it didn’t kick off with a blockbuster action film or superhero team-up. Instead, the first major hit of the season came with the release of Disney’s “The Devil Wears Prada 2,” followed by Universal’s “Obsession” and A24’s “Backrooms,” two low-budget horror films from YouTube creators-turned-filmmakers

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It was further fueled by residual ticket sales of Lionsgate’s “Michael,” the Michael Jackson biopic, which debuted in late April.

Together, those four films have contributed nearly $850 million to the domestic summer box office since the start of May, according to data from Rentrak. Notably, that’s about how much Disney and Marvel’s “Avengers: Endgame” had tallied for the 2019 box office during the same period. 

Still from Pixar’s “Toy Story 5.”

Disney

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Last week’s release of Disney and Pixar’s “Toy Story 5” delivered another boost, posting a franchise-best opening of $160 million.

Combined, the handful of upside surprises is making for a stronger-than-expected domestic box office and a promising foundation for the second half of the year as the industry chases pre-pandemic levels.

As of Sunday, the 2026 box office has tallied $4.4 billion domestically, about 15% behind the $5.2 billion the 2019 box office had collected during the same time period.

Currently playing in theaters

Contributing to the surprisingly strong ticket sales is movies like “Michael,” “Obsession” and even Amazon MGM’s “Project Hail Mary,” which was released in March, that are holding strong at the box office week after week.

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Typically, after opening weekend, a title will see sales drop anywhere from 50% to 70%. But these films were seeing drops of between 20% to 40% each week.

“Obsession” has pulled off an even rarer box office feat as ticket sales actually increased in its second and third weekend in theaters, up 39% and 14%, respectively, according to data from The Numbers.

That success is a sign that films are getting solid word of mouth from audiences and that it’s driving new moviegoers to cinemas.

“It’s just been one after another after another,” said Alex DelVecchio, general manager of Rutgers Cinema in Piscataway, New Jersey. “I always said this whole year was about getting to June 19. Because once you get to June 19 you hit this six weeks in a row. It’s Toy Story, ‘Supergirl,’ Minions, ‘Moana,’ [‘The Odyssey’] and Spider-Man.”

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The combined efforts of those six films could boost the summer box office to $4.2 billion, Dergarabedian said. The summer box office has only surpassed $4 billion once since 2019, and that was thanks to the dual efforts of Warner Bros. “Barbie” and Universal’s “Oppenheimer” in 2023, according to Rentrak data.

That threshold would mark a return to normal cadence for the summer box office, which collected more than $4 billion practically every year between 2013 and 2019 before Covid shut down cinemas.

Movie posters for “Barbie” and “Oppenheimer” are pictured outside the Cinemark Somerdale 16 and XD in Somerdale, New Jersey, in 2023.

Hannah Beier | The Washington Post | Getty Images

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Universal’s “The Odyssey,” directed by Christopher Nolan, is currently tracking for a $100 million-plus opening weekend and is expected to benefit significantly from premium large format screenings.

Sony’s “Spider-Man: Brand New Day,” which was made in collaboration with Disney’s Marvel Studios, could perform even better, with some analysts predicting between $200 million and $250 million for its opening weekend.

“‘Spider-Man: Brand New Day’ could be the biggest opening weekend of the year,” Dergarabedian said. “And that opens on July 31st. What’s that going to mean for August? Well, a lot, because that’s going to add and contribute a lot of box office to the month. Then that sets up a fall and a holiday period [where] I think we’re not going to see really that much of a slowdown.”

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AI Boom Risks Driving Up Inflation Outlook

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Stocks Little Changed After Fed Decision

Heightened competition for memory chips amid increasing investment in artificial intelligence is already showing up in consumer prices, James Bull at RSM UK said in a note.

Both Apple and Microsoft have now issued price hikes, confirming an industry-wide response to supply-chain shortages, Bull said. “The four largest U.S. technology companies are forecast to spend $725 billion on data centers and AI equipment in 2026 alone. That level of demand for memory chips has created a shortage the supply chain cannot keep pace with.”

It is now clear that the costs of building the AI economy is being passed on to consumers and potentially even the inflation outlook, with industry leaders suggesting shortages could last beyond 2028, Bull added.

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Hotter Chip Prices Are Just One of Many Summer Tests for Wall Street

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Hotter Chip Prices Are Just One of Many Summer Tests for Wall Street

Hotter Chip Prices Are Just One of Many Summer Tests for Wall Street

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LVMH and Accor’s Orient Express sets its sights on new tech billionaire class

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LVMH and Accor’s Orient Express sets its sights on new tech billionaire class


LVMH and Accor’s Orient Express sets its sights on new tech billionaire class

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InvestingPro Fair Value predicted 53% drop in Regencell stock

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InvestingPro Fair Value predicted 53% drop in Regencell stock

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Stock Futures Slump as Tech Selloff Rages On After Mag 7 Dumped

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Barron's

Tech stocks were on track to extend their recent slump on Friday as investors continued to fret about soaring memory-chip costs and wondered if the AI trading frenzy may be about to fizzle out.

Nasdaq 100 futures dropped 1.1%. S&P 500 futures were 0.5% lower. Dow Jones Industrial Average futures fell 63 points, or 0.1%.

The Nasdaq closed in the red on Thursday as investors ditched the Magnificent Seven group of mega-cap tech stocks. The selloff came after Apple said it would hike the price of MacBooks and iPads, highlighting the impact the memory-chip shortage could have on its bottom line.

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Nasdaq Headed for Biggest Weekly Loss in Over a Year

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Caitlin McCabe hedcut

Things aren’t looking good for the Nasdaq.

The tech-focused index is down 4.4% through Thursday—and premarket activity suggests more pain is on the way. Stock futures are lower, with chip stocks and memory makers among the biggest losers premarket.

If the losses hold through the session, that could put the index on pace for its biggest weekly drop since April 2025, when President Trump’s tariff war sent markets tumbling.

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Citi says these beaten-down China internet stocks are worth buying on the dip

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Citi says these beaten-down China internet stocks are worth buying on the dip

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27 Attractive Low-Price Dividend Dogs To Buy In June

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27 Attractive Low-Price Dividend Dogs To Buy In June

This article was written by

Fredrik Arnold is a former quality service analyst. He is now reporting investment ideas with a primary focus on dividend yields by utilizing free cash flow and one-year total returns as trading indicators. He is the leader of the investing group The Dividend Dog Catcher, where he shares a minimum of one new dividend stock idea per week with focus on yield or extraordinary financial circumstances. All ideas are archived and available after weekly announcement. Learn more.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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