• Royal Caribbean and Carnival Cruise ships leave from Baltimore for the first time since the collapse of the Key Bridge

    The Port of Baltimore in May 2024
    The Port of Baltimore in May 2024

    • Cruise ships left the Port of Baltimore for the first time since March 26.
    • The port's terminal was blocked after the Francis Scott Key Bridge collapsed and killed six workers.
    • Rebuilding the bridge will take four years and could cost up to $1.9 billion.

    Two months after Baltimore's Francis Scott Key Bridge collapsed, cruise ships are now taking off from the Port of Baltimore.

    A Royal Caribbean ship called Vision of the Seas left from the port on Saturday for a trip to Bermuda. And a Carnival Cruise ship called Pride destined for Greenland and Canada left Baltimore on Sunday.

    The two trips are notable as the first cruise ships to leave Baltimore since the port was blocked by the collapse of the Francis Scott Key Bridge on March 26. The bridge collapsed after being hit by a cargo ship, killing six workers. The Francis Scott Key Bridge services about 30,000 people a day.

    "We've been working through this process for the past two months," Jonathan Daniels, the director for the Port of Baltimore said in a video posted to X on May 25 by the port.

    One week ago, the port's terminal was the headquarters for the recovery operations for the Francis Scott Key Bridge, Daniels added. The terminal is also a massive area of tourism for Maryland, bringing in 440,000 cruise passengers a year, Daniels told the Baltimore Sun.

    The project to rebuild the Francis Scott Key Bridge will take four years and is estimated to cost between $1.7 billion and $1.9 billion, a spokesperson for the Maryland Department of Transportation said in May 2023.

    Read the original article on Business Insider
  • 3 pearls of Warren Buffett wisdom I think all ASX investors need right now

    Legendary share market investing expert and owner of Berkshire Hathaway Warren Buffett

    Warren Buffett is one of the world’s greatest investors. Berkshire Hathaway, the business Buffett has led for decades, achieved an average annual return of 19.8% between 1965 and 2023.

    Buffett is also one of the world’s most generous people with his money and advice. He plans to donate most of his huge wealth to charity. He also spends hours every year at the Berkshire Hathaway annual general meeting answering questions from shareholders and has given numerous pieces of advice over the years.

    I will talk about three Buffett pearls of wisdom that I think are very relevant to today’s investment conditions.

    Interest rates

    Inflation remains higher than central banks would like, so interest rates may stay at this level for longer. The US Federal Reserve boss Jerome Powell said earlier in May:

    We did not expect this to be a smooth road. But these [inflation readings] were higher than I think anybody expected.

    What that has told us is that we’ll need to be patient and let restrictive policy do its work.

    Of course, that doesn’t mean we shouldn’t invest at all. But, I believe investors should continue to assess company valuations on their merits and only buy if they think long-term returns can be solid.

    Warren Buffett once explained why interest rates are so important to valuations:

    The value of every business, the value of a farm, the value of an apartment house, the value of any economic asset, is 100% sensitive to interest rates because all you are doing in investing is transferring some money to somebody now in exchange for what you expect the stream of money to be, to come in over a period of time, and the higher interest rates are the less that present value is going to be. So every business by its nature…its intrinsic valuation is 100% sensitive to interest rates.

    Don’t have to swing at every pitch

    At a time when the share prices of many businesses are close to 52-week highs or all-time highs, I think it would be reasonable for investors to be discerning about which investments they’re buying.

    Investing is not like baseball, where batters must swing at pitches sooner or later. We can take our time with investments and only buy shares at a price we like.

    Warren Buffett explained how to handle investing in this situation:

    The trick in investing is just to sit there and watch pitch after pitch go by and wait for the one right in your sweet spot. And if people are yelling, ‘Swing, you bum!,’ ignore them.

    When the market does become fearful, that could be the time to be greedy. There doesn’t need to be a bear market to find opportunities, though; I’ve written plenty of articles recently where I see opportunities right now.

    Great companies at fair prices

    There is a wide range of potential ASX share investments for us to buy. Warren Buffett and Charlie Munger have been advocates of investors focusing on wonderful companies rather than average businesses. Warren Buffett said:

    It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.

    By choosing great businesses, I think those investments are much more likely to deliver strong metrics such as a higher return on equity (ROE) and better compounding of net profit after tax (NPAT) over the long term. Owning wonderful companies can deliver good share price (and dividend) returns over time.

    The post 3 pearls of Warren Buffett wisdom I think all ASX investors need right now appeared first on The Motley Fool Australia.

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  • Canva’s ‘cringe’ Hamilton-like hip-hop routine gets called out

    Canva logo display on a wall lit up
    Canva is reportedly planning for an IPO in 2025.

    • People on X are complaining about a "cringe" performance at a recent Canva event.
    • The hip-hop routine gave some people flashbacks to Lin-Manuel Miranda's musical Hamilton.
    • Canva reportedly continues to attract interest from investors, though it doesn't have any firm plans yet for an IPO.

    Forget Bill Gates and Steve Ballmer dancing at the Windows 95 launch party. On Sunday, some in the tech world were focused on a new bizarre performance.

    The routine took place last week on the stage at Canva Create, a conference hosted in Los Angeles by the company behind the design and editing app. In it, a singer is performing a hip-hop song and dance routine praising the virtues of Canva with six backup dancers surrounding him.

    Suddenly, another singer posing as a hypothetical chief informatoion officer from one of the company's clients appears onstage.

    "We've got pretty high stakes, no room to err," the CIO sings as she challenges the first singer on Canva's abilities as a jazz track plays in the background. "We need more than a cute little post to share!"

    "You can even manage automated licensing, compliancy, there's privacy," he responds to another question later in the performance. Canva did not respond to a request for comment on the performance from Business Insider.

    A video of the performance went viral on X, formerly known as Twitter, over the weekend. Even in an industry known for odd spectacles at conferences, some users said the routine stood out:

    https://platform.twitter.com/widgets.js

    https://platform.twitter.com/widgets.js

    Other posters pointed out the performance's similarities to Hamilton, the musical written by Lin-Manuel Miranda that's famous for using slant-rhymes and rap battles to tell the life story of Alexander Hamilton:

    https://platform.twitter.com/widgets.js

    https://platform.twitter.com/widgets.js

    Early Canva investors and employees made $1.6 billion on a share sale last month which valued the startup at $26 billion, according to the Australian Financial Review.

    The sale indicated strong interest in the company's shares as the company considers going public in the future, the Review reported. A date for an IPO has not been set.

    Read the original article on Business Insider
  • Blackstone CEO Steve Schwarzman says he will back Trump, citing concerns over rise in antisemitism

    Donald Trump (L) and Steve Schwarzman (R).
    Donald Trump and Steve Schwarzman.

    • Steve Schwarzman has endorsed Donald Trump's reelection bid.
    • It gives the former president backing from one of Wall Street's biggest figures.
    • Schwarzman cited concerns over antisemitism and the "direction" of the country.

    The CEO of Blackstone, Steve Schwarzman, has said he will back Donald Trump's reelection bid, citing concerns over "the dramatic rise of antisemitism" and the "direction" of the country.

    In a statement to Axios, Schwarzman said: "The dramatic rise of antisemitism has led me to focus on the consequences of upcoming elections with greater urgency."

    "I share the concern of most Americans that our economic, immigration and foreign policies are taking the country in the wrong direction. For these reasons, I am planning to vote for change and support Donald Trump for President. In addition, I will be supporting Republican Senate candidates and other Republicans up and down the ticket," he added.

    The endorsement marks a reversal for Schwarzman, the billionaire cofounder of Blackstone, the world's largest alternative asset manager.

    In November 2022, the lifelong Republican said he would not support Trump in the 2024 presidential primary, calling instead for "the Republican Party to turn to a new generation of leaders."

    Schwarzman's endorsement will, therefore, come as a particularly welcome boost for Trump, providing the former president with access to a powerful network of Republican donors.

    It would also appear to suggest Trump's strategy of accusing Biden of being weak on antisemitism — especially in the wake of pro-Palestinian college protests — has started to pay off.

    "If Jewish people are going to vote for Joe Biden, they have to have their head examined," Trump said in a video posted to social media earlier this month.

    If reelected, Trump has said he would he would revoke student visas of "anti-Semitic foreigners" and that he would not welcome any Gaza refugees into the US.

    "Under the Trump administration, we will revoke the student visas of radical anti-American and anti-Semitic foreigners at our colleges and universities and we will send them straight back home," he said at a campaign speech in Iowa last year.

    Read the original article on Business Insider
  • The Olympics is reportedly losing its largest sponsor over concerns the IOC is not doing enough to support the athletes

    The Olympic Rings in Paris
    The Olympic rings in Paris.

    • Toyota will reportedly end its $835 million sponsorship with the IOC after Paris 2024.
    • Toyota is said to be dissatisfied with a lack of support for Olympic athletes.
    • Toyota wants to continue with the Paralympics, but IOC's rules may not allow it.

    We are only two months from the 2024 Summer Olympics in Paris, and the games may be about to lose one of its most lucrative partners.

    According to a report from Japan's Kyodo News, Toyota will end its sponsorship contract with the International Olympic Committee (IOC) after this year's games in Paris. The report cited unidentified "sources close to the matter." Toyota has declined to comment on the Kyoda article, according to media reports.

    Toyota's deal, announced in 2015, is believed to be the largest sponsorship agreement ever signed by the IOC. At the time, Japanese media reported that it would be worth $835 million.

    Toyota and the Olympics
    Toyota reportedly is the largest sponsor of the Olympics.

    According to Kyodo's report, sources at Toyota were unhappy with how the IOC has used the money. The automaker believes the committee is not doing enough to support the athletes and promote the games.

    During the Tokyo Summer Olympics in 2021, the IOC was criticized for not doing enough to support the mental health of its competitors.

    Toyota sources told Kyodo that the company would like to continue sponsoring the Paralympic games. The IOC, however, requires its partners to support all its events.

    Toyota is one of just 15 "TOP" sponsors as part of The Olympic Partner program. TOP is the highest level of sponsorship for the games and is limited to one per industry. Other brands include Coca-Cola, Samsung, Intel, Corona Cero, and Procter & Gamble.

    Toyota pulled its commercials from the delayed 2021 Olympic games in Tokyo, and executives skipped the opening ceremonies in response to concerns about safety during the COVID-19 pandemic.

    Read the original article on Business Insider
  • 6 NATO countries are planning to build a ‘drone wall’ to defend themselves against Russia, reports say

    Ukrainian air defense intercepts a Shahed drone mid-air in Kyiv on May 30, 2023.
    Ukrainian air defense intercepts a Shahed drone mid-air in Kyiv on May 30, 2023.

    • Six NATO countries are planning a "drone wall" to defend against Russia.
    • Finland, Norway, Poland, and the Baltic states want to prevent smuggling and Russian provocations.
    • Further details on when such a system could be in place and how it would work are unclear.

    Six NATO countries are joining forces to create a "drone wall" to defend themselves against Russia, AFP news agency reported.

    Over the weekend, ministers from Finland, Norway, Poland, Estonia, Latvia, and Lithuania convened to discuss a coordinated system to help defend against Russian provocations and smuggling attempts, per the Financial Times.

    "This is a completely new thing — a drone wall stretching from Norway to Poland, and the goal is to use drones and other technologies to protect our borders," Lithuania's interior minister Agnė Bilotaitė reportedly told the Baltic News Service.

    Further details on when the wall could be in place and how it would function remain unclear, but Bilotaitė said that EU funding could be used to support the project.

    Estonia's Interior Minister Lauri Läänemets said of the proposed wall: "Drone surveillance and anti-drone capability is crucial both for deterrence and for countering the influence activities of our eastern neighbor."

    "The one who is even a step ahead of the adversary will succeed, but this advantage can be measured in days, as a countermeasure will be found to each measure very quickly, and the cycle will repeat itself," he added.

    Business Insider has contacted Agnė Bilotaitė's office for comment.

    It comes after a series of provocations involving Russia and the Baltic region.

    Last week, a draft Russian decree proposing revised maritime borders with Lithuania and Finland in the Baltic Sea sparked concern in the region.

    The Lithuanian foreign ministry said it was a calculated provocation designed to intimidate neighboring countries.

    "This is further proof that Russia's aggressive and revisionist policy is a threat to the security of neighbouring countries and Europe as a whole," the department's statement said, per Lithuanian National Radio and Television.

    Russian border guards last week also removed around 24 of 50 buoys that mark shipping routes on the Narva River — which marks the border with Russia, an incident that EU High Representative Josep Borrell labeled "unacceptable."

    The Institute for the Study of War think tank said the move "set conditions to further question maritime borders and test NATO resolve."

    Some officials have also warned that Russia may launch an attack on NATO within the next few years.

    Troels Lund Poulsen, the Danish defense minister, told the Jyllands-Posten newspaper in February: "It cannot be ruled out that within a three- to five-year period, Russia will test Article 5 and NATO's solidarity. That was not NATO's assessment in 2023. This is new knowledge that is coming to the fore now," per Reuters.

    German Defense Minister Boris Pistorius told Der Tagesspiegel in January that while he didn't expect a Russian attack on Nato "for now," it could be possible within "a period of five to eight years."

    However, some experts have said that Russia is in no position to make such a move, particularly after being weakened by the Ukraine conflict.

    Putin himself said in March that he doesn't intend to attack any NATO members, saying such claims were "complete nonsense."

    "The threat posed by Russia to NATO is unlikely to be an invasion; it's more likely to come from a range of other military and nonmilitary threats — what are often called hybrid threats," Ruth Deyermond, an expert on the Russian military at King's College London, previously told BI.

    Read the original article on Business Insider
  • All of the A-list celebrities seen at the Monaco Grand Prix, the swankiest race in motorsports

    Stars at the Monaco Grand Prix
    Stars at the Monaco Grand Prix.

    • Charles Leclerc won the Monaco Grand Prix after leading the entire race.
    • The Monaco Grand Prix is the most glamorous event in Formula 1.
    • The race attracts top celebrities, enhancing its prestigious appeal.

    Formula 1 is one of the ritziest sports in the world, and the Monaco Grand Prix is its swankiest event.

    Monégasque driver Charles Leclerc won his home race for the first time this year, leading the entire race.

    While the race has struggled to keep up with the larger modern F1 cars, the Monaco Grand Prix is still the grand jewel of the racing series.

    Off the track, the lure of the host city's glitz and glamour annually attracts some of the biggest celebrities in the world. Take a look at some of the A-list stars seen before and during the 2024 Monaco Grand Prix.

    Joe Jonas
    Joe Jonas
    Joe Jonas.

    Joe Jonas is one-third of the Jonas Brothers.

    John Legend
    John Legend
    John Legend.

    Singer John Legend was in Monaco and visited with Lewis Hamilton before the race.

    Heidi Klum and Leni Klum
    Heidi Klum and daughter Leni
    Heidi Klum and daughter Leni.

    Heidi Klum is a supermodel, previously working as a Victoria's Secret Angel and gracing the cover of Sports Illustrated's swimsuit issue. Her daughter, Leni Klum, is also a model.

    Travis Scott
    Travis Scott
    Travis Scott.

    Rapper and record producer Travis Scott was spotted on one of the boats in the harbor.

    Princess Charlene and Prince Albert II of Monaco
    Charlene (L), Princess of Monaco and Albert II, Prince of Monaco
    Charlene (L), Princess of Monaco and Albert II, Prince of Monaco.

    It wouldn't be the Monaco Grand Prix without royalty. Albert is the second child of Prince Rainier III and Grace Kelly.

    Michael Douglas
    Michael Douglas
    Michael Douglas.

    Actor Michael Douglas is a big racing fan and a regular at the Monaco Grand Prix.

    Emily Ratajkowski
    Emily Ratajkowski
    Emily Ratajkowski.

    Model Emily Ratajkowski posed for the cameras at the Monaco Grand Prix.

    Jared Leto
    Jared Leto
    Jared Leto.

    Actor and musician Jared Leto was on the grid before the race.

    Winnie Harlow and Kyle Kuzma
    Winnie Harlow and Kyle Kuzma
    Winnie Harlow and Kyle Kuzma.

    Model Winnie Harlow and NBA star Kyle Kuzma posed together before the race.

    Pia Wurtzbach
    Pia Wurtzbach
    Pia Wurtzbach

    Filipina model and actor Pia Wurtzbach was Miss Universe 2015.

    Tommy Hilfiger
    Tommy Hilfiger and wife Dee Ocleppo Hilfiger
    Tommy Hilfiger and his wife, Dee Ocleppo Hilfiger.

    Fashion designers Tommy Hilfiger and Dee Ocleppo Hilfiger were on hand to support Mercedes driver Lewis Hamilton, who has his own line with Tommy Hilfiger.

    Peggy Gou
    Peggy Gou
    Peggy Gou.

    Peggy Gou, a South Korean musician, performed for the crowd before the race.

    Kylian Mbappé
    Kylian Mbappé
    Kylian Mbappé.

    Kylian Mbappé is a French footballer and one of the top players in the world. He flew the checkered flag at the end of the race.

    Diplo
    Diplo
    Diplo (left).

    American DJ and music producer Diplo spent time at the race.

    Alexandra Daddario
    Alexandra Daddario
    Alexandra Daddario

    Alexandra Daddario, the "White Lotus" actor, posed in front of one of the Red Bull cars.

    Khadja Nin
    Khadja Nin
    Khadja Nin.

    Khadja Nin is a singer from Burundi.

    Anya Taylor-Joy
    Anya Taylor-Joy
    Anya Taylor-Joy.

    Anya Taylor-Joy took some time off from her "Furiosa" press tour to attend the Grand Prix.

    Siya Kolisi
    Siya Kolisi
    Siya Kolisi.

    Siya Kolisi is one of the top rugby players in the world and captain of the South African national team.

    Kevin Trapp and Izabel Goulart
    Kevin Trapp and Izabel Goulart
    Kevin Trapp and Izabel Goulart.

    Kevin Trapp is a Brazilian footballer, and Izabel Goulart is a Brazilian model.

    Tony Parker and Agathe Teyssier
    Tony Parker and Agathe Teyssier
    Tony Parker and Agathe Teyssier.

    Former NBA star Tony Parker and model Agathe Teyssier posed in front of the boats in the bay.

    Mikaela Shiffrin
    Mikaela Shiffrin
    Mikaela Shiffrin

    American alpine skier Mikaela Shiffrin is a two-time Olympic gold medalist and five-time World Champion.

    Virgil van Dijk
    Virgil van Dijk
    Virgil van Dijk.

    Dutch star footballer Virgil van Dijk watched the action from the Red Bull garage.

    Read the original article on Business Insider
  • Russia started new offensive early and with too few soldiers, as it tried to get ahead of US aid to Ukraine, experts say

    Fire brigades work in a smoky area, and are largely silhouetted
    Fire brigades work in an area damaged by Russian shelling in Kharkiv, Ukraine, on May 23, 2024.

    • Russia started its latest offensive prematurely and that "undermined" its success, experts said.
    • The Institute for the Study of War said it started its Kharkiv attack with an "understrength force."
    • Russia was trying to "establish a foothold before the arrival of resumed US military aid," it said.

    Russia began its latest offensive in northern Ukraine too early and without enough soldiers because it wanted to get ahead of Western aid heading to Ukraine, experts said.

    The Washington DC-based think tank the Institute for the Study of War said over the weekend that "Russian forces likely launched the offensive operation in northern Kharkiv Oblast earlier than intended with an understrength force hoping to establish a foothold before the arrival of resumed US military aid to the front made that task more difficult."

    Congress voted to resume aid for Ukraine last month, after Republicans stalled for six months.

    The $61 billion package could have a major impact on the battlefield.

    Russia started its new offensive in Kharkiv, in northeast Ukraine, earlier this month.

    The ISW said Russia was seemingly able to surprise Ukraine when it started the offensive, and made some gains in areas that Ukrainian officials said were not as well defended.

    But, it added, "the likely premature start of Russian offensive operations appears to have undermined Russian success in northern Kharkiv Oblast."

    The ISW said that Ukraine has subsequently boosted its defenses, so Russia's forces "have likely expended their tactical opportunity to make relatively rapid gains against lightly-held positions in this area."

    A side of Ukraine's President Volodymyr Zelenskyy wearing a green t-shirt and with his armed folded with a worried expression on his face
    Ukraine's President Volodymyr Zelenskyy in Kharkiv, Ukraine, on May 24, 2024.

    Ukraine said earlier this month that it had slowed Russia's attack and that Russia had advanced no more than six miles into Ukrainian territory.

    The ISW said that Russia seems to be trying to bring its Northern Grouping of Forces up to its planned strength before increasing operations in the region.

    Ukrainian sources said this could mean up to 70,000 men, compared to about 35,000 at the start of the offensive.

    But the ISW warned the force, even at 70,000, "will lack the necessary manpower needed to conduct a successful operation to envelop, encircle, or seize Kharkiv City."

    Some US artillery and other military assets have already started to arrive in Ukraine, but other equipment will take longer to reach the front lines.

    In April, Ukrainian President Volodymyr Zelenskyy said Russia was firing 10 times more artillery than Ukraine, and had 30 times more aircraft.

    Soldiers in Ukraine told BI that the shortages meant they had to ration ammunition and not go after some of the same types of targets they would have earlier in the war.

    Russia has tried to take advantage of Ukraine's shortages, such as trying to get it to use up its air defense missiles.

    Despite the ISW's assessment, the situation is fast-moving and fast-changing, and does not look entirely positive for Ukraine.

    Ukraine still has a major manpower and resource disadvantage compared to the much larger Russia.

    On Sunday, Russia said it had taken the village of Berestove in the northeast of Kharkiv, though the claim has not been confirmed.

    Zelenskyy, meanwhile, said on Saturday that Russian forces have had an eight-to-one casualty ratio compared to Ukraine, and the ISW said Ukraine took back some territory near the city of Vovchansk in the region last week.

    Read the original article on Business Insider
  • AliExpress taps David Beckham for a brand ambassador deal

    David Beckham waving
    David Beckham will be the face of a campaign alongside the company's partnership with UEFA Euro 2024 beginning June 1.

    • David Beckham is partnering with AliExpress this summer.
    • Beckham will be the face of the "Score More" campaign running alongside the UEFA Euro 2024.
    • Alibaba's competitors have also made big investments in their global audiences this year.

    AliExpress, the international e-commerce site owned by Alibaba, is bringing on soccer star David Beckham as a brand ambassador.

    The Chinese giant is upping its efforts to appeal to a global audience as rivals like Temu and Shein continue to gain popularity abroad. In February, Temu garnered attention for multiple ads during Super Bowl LVIII that the company reportedly paid millions for.

    Enter Beckham, who will be a global ambassador for AliExpress as the face of its "Score More with AliExpress" campaign, the company announced Monday. The campaign will run through July 14 in line with the final game of the tournament set for the same day in Berlin.

    In conjunction with the partnership with Beckham, AliExpress said it's investing millions of euros to sponsor the UEFA Euro 2024 tournament — beginning June 1 — and drive user engagement to its app. From June 14 to July 14, users can log in to the AliExpress app to access time-limited prizes offered every time a goal is scored.

    "AliExpress is helping fans get even closer to UEFA Euro 2024 this summer, by offering them great prizes as the action takes place on the pitch," the former English national team captain said in a statement.

    Over the past three years, Alibaba has faced pressure from the Chinese government, its successful rivals in the e-commerce space, and a $2.8 billion antitrust fine.

    Employees received a page-long motivational memo from cofounder Jack Ma in April.

    "This year, amid the many doubts and pressures on the company internally and externally, I saw the birth of a strong and brave Alibaba team," Ma said in the memo viewed by Reuters.

    And, it would seem brand partnerships are a part of the strategy for Alibaba to secure its future.

    "Whether you're a football fan or not, I can think of no-one better to show how easy it is to win with AliExpress during UEFA Euro 2024," Gary Topp, European Commercial Director, AliExpress, said about partnering with Beckham.

    Read the original article on Business Insider
  • Hollywood’s biggest summer blockbusters are off to a slow start

    Anya Taylor-Joy behind a wall of fire
    "Furiosa: A Mad Max Saga"

    • Hollywood saw weak box office sales over Memorial Day weekend, despite new releases.
    • Memorial Day weekend box office revenue is down 40% year-over-year.
    • Studios hope upcoming releases like "Deadpool & Wolverine" will boost summer sales.

    Hollywood is betting on movies like "Furiosa: A Mad Max Saga" and "Garfield" to bring people to movie theaters this summer, but box office sales were weak during the critical Memorial Day weekend.

    Warner Bros. claimed "Furiosa: A Mad Max Saga" brought in $25.6 million in ticket sales through Sunday. Meanwhile, Sony expects "Garfield" to make $31.9 million from total Memorial Day weekend sales through Monday. The film studios self-reported ticket sales, and each reported their movies as the No. 1 film of the weekend.

    It's the worst Memorial Day opening weekend for Hollywood since 1995 when "Casper" earned $22.5 million, The Associated Press reported. The numbers do not include ticket sales for 2020, when movie theaters were closed during COVID.

    Memorial Day weekend sales for theaters in the United States and Canada are expected to be down 40% year-over-year, equivalent to $125 million, according to Comscore. 

    To compare, "Top Gun: Maverick" raked in $160 million during its opening weekend in the summer of 2022, while 2023's "The Little Mermaid" made $119 million.

    Film studios hope that films premiering later this summer, like Disney's "Deadpool & Wolverine" and "Inside Out 2," will boost the box office numbers to offset the initial sluggish sales. The release date for "Deadpool & Wolverine" was pushed from May 4 to July 26 after the WGA and SAG-AFTRA strikes delayed production.

    Besides "Furiosa: A Mad Max Saga" and "Garfield," other top movies during Memorial Day weekend include Paramount's "If," which is expected to make $21 million through Monday, and 20th Century's "Kingdom of the Planet of the Apes," which is expected to make $17.1 million through Monday. Universal's "The Fall Guy" is expected to make $7.6 million through Monday.

    Read the original article on Business Insider