Shares of home builders and steel makers sell for two to four times earnings. There are plenty of bargains in both groups.Long read
Law-enforcement budgets are increasing, along with demand for products they use to do their jobs. Cadre Holdings, a maker of body armor and handcuffs, is ready to capitalize.Long read
Emma Nelson and the weekend’s biggest discussion topics. Justin Quirk reviews the day’s papers and we visit the Royal College of Art’s new premises in London.
This week the World Economic Forum are highlighting 4 top stories – rethinking global institutions, 4-day week vs flexible work, turning food waste into cement and income loss for UK mothers.
The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.
The American sports car racing scene of the 1950s was a time like no other, when fiercely independent, deep-pocketed men could acquire ex-factory racecars and campaign them with some of history’s most legendary drivers. Admirably pure in its essence, this was a golden era of racing that fielded some of the decade’s most beautifully sculpted and ferociously specified competition machines.
One of the most significant purpose-built Ferrari “big block” sports-racing prototypes from the 1950s, this 1955 Ferrari 410 Sport Spider by Scaglietti is one of just two factory-campaigned 410 Sports equipped with a 24-spark plug 4.9-liter V-12 and is one of a select few Ferrari models with coachwork both designed and built by Sergio Scaglietti.
0598 CM was the Scuderia Ferrari team car driven by Juan Manuel Fangio at the 1956 1000 KM Buenos Aires and later piloted by Carroll Shelby during his landmark 1956 and 1957 seasons when driving for the renowned Southern California-based team principal John Edgar. Shelby won more races as a driver in 0598 CM than any other car in his racing career, with eight wins and ten podium finishes.
There seemed to be no race it could not win as Shelby told a Los Angeles Times reporter, “Nothing can touch this Ferrari if it runs” and decades later he added, “It was the best Ferrari I ever drove.” Also raced in-period by legendary drivers Phil Hill, Eugenio Castellotti, Masten Gregory, Richie Ginther, Joakim Bonnier, Bruce Kessler, Jim Rathmann, and Chuck Daigh, 0598 CM is, without exaggeration, one of the most important and colorful Ferraris to compete in racing during the 1950s. It is among the most successful of all even-numbered sports-racing Ferraris, entering nearly 40 races in-period with 11 victories and 19 total podium finishes from 1956-1958.
As it remains a highly original example retaining the matching-numbers engine, chassis, and body, and fitted with the original fuel tank inscribed by Shelby, “Mr. Ferrari told me that this was the best Ferrari he ever built,” this example offers an unparalleled opportunity to acquire a purpose-built, even chassis-numbered racing sports car of unequaled provenance. Faithfully presented in its period livery and desirably maintained, including the recent engine rebuild by a team of Ferrari experts, this 410 Sport can expect an enthusiastic welcome at the most exclusive vintage racing and exhibition events worldwide and will go to its new owners with the first (1956) and last (1958) trophies won by Shelby driving 0598 CM, along with the original 1957 Nassau racing license plate.
Like the famed men who rode it to such success in-period, the illustrious John Edgar and the inimitable Carroll Shelby, this Scaglietti-built spider is a powerful and nuanced character that cannot be repeated—and will never be forgotten.
This week: our associate editor, Kabir Jhala, and editor-at-large, Jane Morris, have been in Kassel, Germany, to see Documenta, the quinquennial international art exhibition.
They review the show and respond to the escalation of a long-running row over antisemitism and broader racism, which has resulted in a work being removed from the exhibition. Virginia Rutledge, an art historian and lawyer, discusses the dispute over Andy Warhol’s appropriation of a photograph by Lynn Goldsmith of the pop icon Prince. The case will be heard in the US Supreme Court this autumn and has potentially huge implications for artistic freedom. And this episode’s Work of the Week is An Outpost of Progress (1992), a drawing by the late Spanish artist Juan Muñoz, inspired by Joseph Conrad’s short story of the same name.
Documenta 15, Kassel, Germany, until 25 September.
Juan Muñoz: Drawings 1982-2000, Centro Botín, Santander, Spain, 25 June-16 October.
We hear the latest from Ukraine and a look at how the growing energy crisis is affecting Europe. Plus: aviation news and a preview of Paris Men’s Fashion Week.
Alcohol was part of daily life in the colonial Maghreb. In 1913 the French banned alcohol in Tunisia, revealing a deep distrust of local drinks and their Jewish and Muslim makers.
During the worst year of the Troubles, the British government became alarmed at the implications of a Soviet embassy opening in Dublin.
Leighton Lum from ‘Aiea, O‘ahu
“I took this shot during the 2020 pandemic lockdowns. This shot was only made possible because there were very few people going outside during the lockdowns, and bait balls were coming into beaches along Waikīkī. With the bait balls so close to shore and with so few people around, these sandbar sharks were able to come in and snag an easy meal.
I was lucky enough to be flying my drone that day and had a few great views of this interesting hunting behavior that is not often seen in heavily populated areas such as Waikīkī.”
Semaj Thomas from Honolulu, O‘ahu
“I went out for sunrise at Kualoa Regional Park. It was a cloud covered morning—which generally are my favorite times to shoot because there is always potential for light leaks. I sent up the drone, set the composition and Mother Nature did the rest. This image to me is indicative of the stories I’ve learned about historic Hawai‘i, and I hope it stands the test of time.”
Peter Tang from Honolulu, O‘ahu
“A high surf advisory ushered a procession of waves to O‘ahu’s Waimea Bay. The wind blew water off the lip and the morning sun illuminated the spray to create a rainbow in its wake.”
Lisa Titimacco from Wahiawā, O‘ahu
“I remember this day well—I got out a little before sunset during a decent winter south swell on O‘ahu. After a set rolled through, I saw my friend Nancy (@nancxyx) sitting on the nose of her longboard, taking a break and watching the other surfers. She was so relaxed and the golden hour light was hitting her face perfectly so I took a couple shots. They turned out pretty good.”
Even as they firefight, governments must resolve the conflict between safe supply and a safe climate.
This year’s energy shock is the most serious since the Middle Eastern oil crises of 1973 and 1979. Like those calamities, it promises to inflict short-term pain and in the longer term to transform the energy industry. The pain is all but guaranteed: owing to high fuel and power prices, most countries are facing soggy growth, inflation, squeezed living standards and a savage political backlash. But the long-run consequences are far from preordained. If governments respond ineptly, they could trigger a relapse towards fossil fuels that makes it even harder to stabilise the climate. Instead they must follow a perilous path that combines security of energy supply with climate security.
Tensions rise between the Baltic nations and Russia. Plus: the EU-Western Balkans Summit, a landmark casino bill in Macau and the house lights are dimmed for the start of the London Indian Film Festival.
