Latest news with #Apollo
Time Out
an hour ago
- Entertainment
- Time Out
Harlem's historic Apollo Theater is closing for a year for its $65 million makeover
The show's on pause, but the legacy is getting a serious glow-up. Harlem's iconic Apollo Theater officially closed its doors on July 1 for a $65 million, yearlong renovation—the most ambitious in its 91-year history. The lights on the famous marquee may be dimmed, but the vision for the future is anything but. Opened in 1914 and rebranded in 1934, the Apollo became a cornerstone of Black American culture, launching the careers of artists such as Ella Fitzgerald and Lauryn Hill. Now, the 1,500-seat landmark is undergoing a comprehensive facelift, featuring a restored façade, upgraded LED marquee, expanded lobby, new seating and modern AV systems. Crucially, historic elements, such as the performer-signed 'signature wall,' will be preserved. 'It is the first large‑scale renovation of the historic theater in our 91‑year history,' Joy Profet, the Apollo's chief growth officer, told NY1. While work on the lobby began earlier this year, 'July 1 is really the full-scale.' The final in-house show before the closure was last Wednesday's grand finale of Amateur Night at the Apollo. Neverson Cadesca, performing under the name Nev, closed out the night. The $20,000 prize went to saxophonist Emanuel Garilus from Gainesville, Florida. While the main auditorium is shuttered, performances will temporarily relocate to the Apollo Stages at the Victoria, just down 125th Street. That complex includes two smaller theaters, part of the Apollo's ongoing expansion. Scaffolding is already up along the 125th Street exterior and temporary guest access is now rerouted through a covered entrance on 126th Street. A pop-up box office under the marquee is now serving guests. According to architects Beyer Blinder Belle, the renovation aims to make the Apollo feel more open and community-connected. A café and new street-facing windows will anchor the expanded lobby and the Wall of Fame is going digital. Work is expected to wrap by mid-2026. Until then, Amateur Night is on hold, but the Apollo's spirit is just down the block—still shaking things up, still center stage.
Mint
12 hours ago
- Business
- Mint
Apollo Hospitals: Simplifying corporate structure could lead to rerating
Apollo Hospitals Enterprise Ltd has decided to give its existing shareholders direct ownership of its subsidiary, Apollo Healthco Ltd. Apollo Healthco will have online, offline, retail, and wholesale pharmacy segments under one umbrella, apart from the digital consultation and treatment business of Apollo 24|7. The new entity will have nearly 667 million equity shares with a face value of ₹2 each. Apollo Hospitals' shareholders will receive 195.2 shares of Apollo Healthco for every 100 shares they hold. Apollo Healthco's listing is likely in 18-21 months. The exercise would mean that Apollo Hospitals would only have a 17.5% stake (direct plus indirect through its other subsidiaries) in Apollo Healthco, as against the earlier plan of having a 59.2% stake. Also Read: Will Torrent Pharma's big bet on JB Chemicals pay off? The two separate listed entities with dedicated leadership will allow the management teams to sharpen their focus on hospital and pharmacy businesses separately. Following the announcement, Apollo Hospitals shares touched a new 52-week high of ₹7,584.50 apiece on Tuesday. Growth potential Is there more steam left based on the separate valuation of the two businesses? Well, the answer depends on the management's ability to achieve the aspirational targets for its pharmacy business—Apollo Healthco. According to the company's presentation, Apollo Healthco's FY25 revenue (pro forma without the restructuring) was ₹16,377 crore. The management aspires for an operating revenue of ₹25,000 crore in FY27, which would mean a compound annual growth rate of 24% over the two years from FY25. This would require a significant pick-up in growth, given that the FY25 revenue had increased 19% year-on-year. Excluding Apollo 24|7 losses, the FY25 Ebitda margin was already about 6%. So, the Ebitda margin target of 7% in FY27 with operational efficiencies is achievable as it would only require Apollo 24|7 to achieve breakeven. If management is able to deliver on the aspirational numbers, it would mean an Ebitda of ₹1,750 crore in FY27. Based on the EV/ Ebitda multiple of 30x assigned by analysts at Nomura, the market capitalization attributable to Healthco is about ₹50,000 crore, as the net debt is small. Ebitda stands for earnings before interest, taxes, depreciation, and amortization. Also Read: Tech Mahindra: What can upset its apple cart Apollo Hospitals' market capitalization is now ₹1.08 trillion. So, the residual market capitalization of Apollo Hospitals, after deducting the valuation of Apollo Healthco is at ₹58,000 crore. With a net debt of around ₹5,000 crore, the implied EV/Ebitda valuation multiple of Apollo Hospitals comes to 20x based on Nomura's estimate of ₹3,150 crore Ebitda for FY26 (Apollo Health and Lifestyle having sugar clinic, dental clinic, etc. not considered due to its small size). Nomura's fair value multiple for Apollo Hospitals at 25x is higher than the derived implied multiple at 20x, implying room for upside. The growth prospects of standalone Apollo Hospitals are strong. Its future growth is likely to be largely led by capacity additions, unlike the last three years to FY25, when it relied on average revenue per occupied bed (Arpob) for growth. Apollo Hospitals had 8,025 operating beds at FY25 end. This is likely to rise by more than 50% as it plans to add nearly 4,400 beds over the next 3-4 years to address supply-side constraints, even though getting more patients is also crucial. The management expects to maintain the Ebitda margin of the hospital business at 24% even after the large expansion. Also Read: Nykaa's premium bet: A smart strategy if it delivers The hospital business has a higher Ebitda margin but is more capital-intensive in nature, whereas the pharmacy business has a lower Ebitda margin but lower capital requirements. Besides, the separate listing of Apollo Healthco would mean that the shareholders of Apollo Hospitals would have an option to choose the business they want to remain invested in.
Newsweek
a day ago
- Automotive
- Newsweek
Cadillac F1 Adopts NASA's Apollo Mission Strategy for 2026 Debut
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. As the Cadillac F1 team gears up for its 2026 Formula One debut, team principal Graeme Lowdon has revealed that the outfit has been relying on a management model based on NASA's Apollo project to manage its operations from multiple locations in the UK and the USA. With around six months to go before the second American F1 team enters the grid, Cadillac is on course to get two cars ready after making significant investments in manpower and infrastructure. While the team has already developed a 2026 car concept for crash testing and aerodynamic testing, Lowdon emphasized the need for an efficient management structure for easy and quick "peer-to-peer interaction" across multiple locations. People attend an event to unveil the colors for the 2026 Cadillac debut in Formula One racing, ahead of the 2025 Miami Formula One Grand Prix, in Miami Beach, Florida, on May 3, 2025. People attend an event to unveil the colors for the 2026 Cadillac debut in Formula One racing, ahead of the 2025 Miami Formula One Grand Prix, in Miami Beach, Florida, on May 3, 2025. GIORGIO VIERA/AFP/Getty Images As a result, the team adopted a flat management model, inspired by the one NASA used for its Apollo mission. Speaking to the media in Silverstone, Lowdon explained: "It's very similar. OK, we're not putting a man on the moon, but it feels like it sometimes. "If you look at the task in hand, we've got immovable deadlines. We've got a massive necessity for peer-to-peer interaction. "So we need engineers talking to engineers. We need an engineer here [in Silverstone] talking to an engineer in Charlotte [North Carolina] and another one in Warren, Michigan, or eventually in Fishers [Indiana, where Cadillac U.S. racing headquarters is being constructed]. And so we've looked to have a very, very flat management structure. "We've leaned heavily on the management structures that were used for the Apollo project. It's super interesting and I don't know if other teams have used that before. "You always look around to get inspiration from how other people have tackled things. And I just thought that there was some good learnings from that. "Is it the equivalent of putting a man on the moon? I don't know about that. But what strikes me is it's quite a difficult task." Lowdon added that compared to a pyramid structure that several teams run on, a flat management structure is best suited for a multi-site team like Cadillac. He said: "So race teams are often described in military terms where, even if you see a garage tour, someone will say, this is organised in a kind of pyramid, and you have one person at the top. And the typical military structure is command and control. So you issue commands, people do things. "When it's a multi-site team like this, that becomes a massive challenge. And what you can't have is an engineer here [in Silverstone] having to go up and down a particular hierarchy and then hop across, in our instance, not just to a different geographic location, but a different country altogether, and then go up and down. "So instead, it's a kind of a different structure where it's mission control instead of command and control. So you have this really flat structure. Engineers are able to talk directly to each other. And the thing that's heavily imparted on them is the mission itself. Everyone knows what the mission is. They know what needs to be done. "So far it works. You know, the proof of the pudding is going to be in whether the car's quick."
UPI
2 days ago
- Entertainment
- UPI
NASA to live-stream launches, spacewalks on Netflix
NASA will launch its live-streamed programming on Netflix -- featuring rocket liftoffs, astronaut spacewalks and live views of Earth from the International Space Station -- starting this summer, the space agency announced Monday. File Photo by Aaron Sprecher/UPI | License Photo June 30 (UPI) -- NASA plans to launch its live-streamed programming on Netflix -- featuring rocket liftoffs, astronaut spacewalks and live views of Earth from the International Space Station -- to the "broadest possible audience," starting this summer, the space agency announced Monday. Through Netflix, NASA+ could expand the space agency's reach to a global audience of more than 700 million viewers. NASA+ will continue to be available for free through the space agency's website and through the NASA app. "The National Aeronautics and Space Act of 1958 calls on us to share our story of space exploration with the broadest possible audience," said Rebecca Sirmons, general manager of NASA+ at the agency's headquarters in Washington, D.C. "Together, we're committed to a Golden Age of Innovation and Exploration -- inspiring new generations -- right from the comfort of their couch or in the palm of their hand from their phone," Sirmons added. NASA's grainy footage of the first Apollo moon landing in 1969 captured 650 million viewers around the world. Now the space agency is planning to showcase its Artemis moon missions with numerous high-definition cameras. Artemis II, which will orbit a crew around the moon, is currently targeting a launch date of April 2026. Artemis III, which will land on the moon, is currently scheduled for the middle of 2027. "I hope to be on the moon missions, but if I'm not, I'm going to be glued to my TV, and I'm going to be watching almost everything that comes down," Artemis astronaut Scott Tingle told UPI in 2021. "There's a huge opportunity here to pipe a lot of this through NASA TV, and I don't think that this organization is going to miss an opportunity to do that if it's technically possible," Tingle added. Netflix has been showcasing space exploration content for years. In 2021, Netflix released a five-part docuseries on SpaceX and the first launch of its all-private orbital spaceflight, Inspiration4. The series featured footage of the entire mission "from training to launch to landing." That same year, Russia's space agency, Roscosmos, produced a full-length feature film shot at the International Space Station to promote the growing commercialization of orbital spaceflight. In 2020, NASA Administrator Jim Bridenstine tweeted that actor Tom Cruise would fly to the space station for a movie, but no date was announced. The film is still in development, as plans call for Cruise to become the first civilian to perform a spacewalk outside of ISS. "More and more movies and videos will be shot in space as the price of launches falls due to competition from firms like SpaceX and Blue Origin," James Neihouse, IMAX movie cinematographer told UPI.
Yahoo
2 days ago
- Business
- Yahoo
One chart shows how brutal the housing market has become for first-time buyers
The real estate market is still stuck in low gear halfway through 2025. For first-time buyers the situation is tough, with rates and prices stubbornly high. Apollo economist Torsten Slok highlighted just how sharply the share of first-time buyers has plunged. Even as fresh data points to the US housing market turning in buyers' favor, first-time buyers are still struggling to break in. Torsten Slok, the chief economist of Apollo Global Management, recently highlighted just how tough it is for people looking to get into the housing market, with the share of first-time buyers plummeting in the last 15 years. "In 2010, 50% of all homes sold were purchased by first-time home buyers. Today, the share is 24%." The data is a stark reminder that buyers and sellers are at a stalemate midway through 2025. Even as housing inventory piles up across the country, prices aren't budging and rates remain restrictive. Redfin reported recently that there was a record $700 billion in unsold housing stock in the US in April, a month when prices rose 17%. Meanwhile, new home sales plunged by almost 14% in May, another datapoint showing the deep freeze that the US housing market has fallen into. In its US Housing Outlook, published May 2025, Apollo said that 44% of consumers believe that "this is a bad time to buy a house because of high mortgage rates and tight credit." It also noted that 34% of Americans have said that if they were to move, they would rent. Part of the problem is the so-called lock-in effect. Current homeowners are hesitant to sell as they cling to the low rates they locked in during the era of low rates during the pandemic. Meanwhile, economic uncertainty is still high as the US economy navigates tariffs and the outlook for interest rates remains clouded, adding to difficulties for buyers trying to enter the housing market. Read the original article on Business Insider
