格隆汇3月5日｜2025年全年经济社会发展主要目标任务顺利完成，A股三大指数今日集体上涨，截至收盘，沪指涨0.64%报4108点，深证成指涨1.23%，创业板指涨1.66%。全市场成交额2.41万亿元，较前一交易日增量246亿元，近4100股上涨。 盘面上，机构称Micro LED CPO有望凭节能优势成为光互连替代方案，Micro LED、光学光电子板块爆发，聚飞光电、华灿光电等十余股涨停；电网...
格隆汇3月5日｜2025年全年经济社会发展主要目标任务顺利完成，A股三大指数今日集体上涨，截至收盘，沪指涨0.64%报4108点，深证成指涨1.23%，创业板指涨1.66%。全市场成交额2.41万亿元，较前一交易日增量246亿元，近4100股上涨。 盘面上，机构称Micro LED CPO有望凭节能优势成为光互连替代方案，Micro LED、光学光电子板块爆发，聚飞光电、华灿光电等十余股涨停；电网设备、特高压板块持续走高，中国西电涨停；脑机接口板块拉升，岩山科技涨停；教育股活跃，行动教育涨停；AI眼镜、3D玻璃及超导概念等涨幅居前。另外，种业、转基因板块大跌，神农种业、秋乐种业等多股跌逾10%；油气股走低，贝肯能源逼近跌停；贵金属、小金属板块走弱，翔鹭钨业跌逾9%；氮肥、逆变器、航海装备及航运等板块跌幅居前。(格隆汇)
The latest smartphone in the lower-cost A-series Pixel line shows what makes Google phones so good, while undercutting the competition on price. The problem is that it differs little from its predecessor, which is still on sale. The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more. Priced from £499 (€549/$499/A$849), the Pix...
The latest smartphone in the lower-cost A-series Pixel line shows what makes Google phones so good, while undercutting the competition on price. The problem is that it differs little from its predecessor, which is still on sale. The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more. Priced from £499 (€549/$499/A$849), the Pixel 10a is more like a second edition of last year’s excellent Pixel 9a. The two phones share the same Tensor G4 chip, not the newer G5 in the rest of the £799 and up Pixel 10 line; the same memory, storage and cameras; the same size 6.3in OLED screen, though the Pixel 10a reaches a higher peak brightness making it slightly easier to read outside. View image in fullscreen The back of the new Pixel is completely flat, lacking the protruding camera bump that has plagued almost every handset for decades. Photograph: Samuel Gibbs/The Guardian The new phone feels well made at least, with aluminium sides, glass on the front and a high-quality plastic back. It has 2D face recognition and an optical fingerprint scanner under the screen for unlocking the phone, which is fast but not quite as reliable as the ultrasonic fingerprint readers on more expensive phones. It also has emergency satellite messaging, which is a rare feature outside flagship smartphones, should you need rescuing in the middle of nowhere without a phone signal or wifi. The Pixel feels snappy in operation despite the older chip but it won’t win any raw performance awards, although it handles most tasks well and is capable of gaming, but not at the highest quality settings. The battery lasts a good 52 or so hours per charge, including actively using the screen for seven hours across a mix of 5G and wifi. Most users should only need to charge it every other day. View image in fullscreen The Pixel 10a supports 30W charging, hitting 50% in about 30 minutes, and 10W Qi wireless charging. Photograph: Samuel Gibbs/The Gua...
From London’s commuter belt to the country village gay club, these portraits of LGBTQ+ life are filled with humour, compassion and observational flair Generations of readers have loved Armistead Maupin ’s Tales of the City novels. His chronicle of queer life began in 1976 in the eclectic glamour of San Francisco’s Barbary Lane, where queer people learned who they were and how to live their lives. ...
From London’s commuter belt to the country village gay club, these portraits of LGBTQ+ life are filled with humour, compassion and observational flair Generations of readers have loved Armistead Maupin ’s Tales of the City novels. His chronicle of queer life began in 1976 in the eclectic glamour of San Francisco’s Barbary Lane, where queer people learned who they were and how to live their lives. But even Maupin relocated in the end. The most recent instalment, Mona of the Manor, saw one of its key characters move to the Cotswolds to navigate a very different kind of village. The social historian John Grindrod nods to Maupin in this fantastically entertaining alternative history of queer life in Britain, which departs from the usual tales of city-based freedom and discovery to tell the stories of people who grew up in the suburbs. “The suburbs” resist easy definition, and Grindrod handles this lightly. Sometimes they’re marked out by social class, sometimes by geography, each facet blurring into the other. His locations range from London’s commuter belt to hamlets, farms and towns, from the edges of Portsmouth and Hull to pockets of Glasgow and Wilmslow and a tiny village in Lincolnshire, where a gay builder is protected from homophobic abuse in the pub by the local darts team. Continue reading...
Exercise and freedom: inside a children’s mental health centre in Gaza A Palestine Red Crescent Society mental health centre provides one of the few places left where children in Gaza can play and feel safe
Exercise and freedom: inside a children’s mental health centre in Gaza A Palestine Red Crescent Society mental health centre provides one of the few places left where children in Gaza can play and feel safe
Culture – Shelby murals and Sabbath shrines The runaway success of the TV crime drama Peaky Blinders has been credited with boosting tourism to Birmingham and the West Midlands since it first aired in 2013, even though much of the series was actually shot farther north, in Merseyside, Yorkshire and Manchester. The release this week of the Peaky Blinders movie The Immortal Man (much of which was fi...
Culture – Shelby murals and Sabbath shrines The runaway success of the TV crime drama Peaky Blinders has been credited with boosting tourism to Birmingham and the West Midlands since it first aired in 2013, even though much of the series was actually shot farther north, in Merseyside, Yorkshire and Manchester. The release this week of the Peaky Blinders movie The Immortal Man (much of which was filmed in and around Birmingham this time) will undoubtedly generate a new wave of interest, particularly in the Black Country Living Museum in nearby Dudley, whose authentic recreations of streets, houses and industrial workshops appear in key scenes in the TV show and the film – most notably as the location for Charlie Strong’s yard (pictured below). View image in fullscreen The canal and blacksmith’s forge at Black Country Living Museum in Dudley. Photograph: Nathaniel Noir/Alamy At the Digbeth Loc. Studios, where much of the new movie was shot, fans can also see Peaky Blinders murals created by artist Mr Murals. A walking tour of the city with a guide dressed as “Edward Shelby” (from £20pp, viator.com) is well worth a couple of hours, while historic mugshots, artefacts and the original cells in which members of the real-life Peaky Blinders gang were once held are now on show at West Midlands Police Museum. The city has also become something of a pilgrimage site for heavy metal fans, especially since the final Black Sabbath concert at Villa Park last summer and Ozzy Osbourne’s passing just over two weeks later. There are Ozzy and Sabbath landmarks all around the city, including another of Mr Murals’ artworks on Navigation Street, near New Street station, which all four members of the band visited and signed ahead of the concert. A couple of minutes’ walk away is The Crown pub (now sadly closed) where Sabbath played their first gig and heavy metal was born out of Brum’s industrial clank. Sabbath also feature on murals outside Scruffy Murphy’s rock pub and beside Birmingham ...
Fredrik Gertten travels the world meeting activists who have had enough of corruption, kleptocracy and structural inequality – while Bregman’s nuggets of wisdom are a joy Bicycling Dutch historian Rutger Bregman does not identify as an optimist. He says that optimism makes people lazy, complacent that history is going in the right direction. Instead he describes himself as a “possibilist”, a belie...
Fredrik Gertten travels the world meeting activists who have had enough of corruption, kleptocracy and structural inequality – while Bregman’s nuggets of wisdom are a joy Bicycling Dutch historian Rutger Bregman does not identify as an optimist. He says that optimism makes people lazy, complacent that history is going in the right direction. Instead he describes himself as a “possibilist”, a believer in the possibility that things can be different. Bregman is interviewed in this film about corruption, kleptocracy and structural inequality. The director is documentary-maker Fredrik Gertten who travels the world meeting activists who have had enough. First, the cold hard facts. Journalist and corruption expert Sarah Chayes, a former adviser to the Obama administration, does an impressive job summarising her analysis of global kleptocracy. In Malta, the son of the murdered journalist Daphne Caruana Galizia , killed after exposing corruption at the highest levels of government, investigates the new scandal of “golden passports” . The film’s main focus is activism in Chile and the US. Amazon workers in New York unionise (and have a good laugh at their boss Jeff Bezos’s trip to space). In Chile, feminists march and climate activists go into battle against mining companies responsible for drought. Continue reading...
British number one Emma Raducanu says she is going to be "tapping into a few people" as she tries to rediscover her natural way of playing. The 2021 US Open champion says she remains open to the idea of having another full-time coach - as long as they do not dictate the way she should play - but is wary of the scrutiny they will attract. Raducanu's partnership with Francisco Roig ended after Janua...
British number one Emma Raducanu says she is going to be "tapping into a few people" as she tries to rediscover her natural way of playing. The 2021 US Open champion says she remains open to the idea of having another full-time coach - as long as they do not dictate the way she should play - but is wary of the scrutiny they will attract. Raducanu's partnership with Francisco Roig ended after January's Australian Open because of a disagreement over her playing style. The Spaniard was the seventh full-time coach Raducanu had worked with. "Right now, it's more about bringing my instincts back out, getting back in touch with myself," Raducanu told BBC Sport after a two-hour practice session before her first match at Indian Wells in California.
Malaysia kept its benchmark interest rate unchanged, but warned that downside risks have risen from the deepening conflict in the Middle East. Bank Negara Malaysia held the overnight policy rate at 2.75% on Thursday, a move seen by all 24 economists in a Bloomberg survey. It has adjusted borrowing costs just once in the past two years, with a quarter-point cut in July 2025 to shore up the economy ...
Malaysia kept its benchmark interest rate unchanged, but warned that downside risks have risen from the deepening conflict in the Middle East. Bank Negara Malaysia held the overnight policy rate at 2.75% on Thursday, a move seen by all 24 economists in a Bloomberg survey. It has adjusted borrowing costs just once in the past two years, with a quarter-point cut in July 2025 to shore up the economy from US tariff hikes. The central bank is taking a cautious stance as the prospect of a prolonged war in Iran risks spurring energy prices and currency volatility, complicating the outlook for inflation and growth. The trade-reliant nation is also still reckoning with US President Donald Trump’s continued tariff threats. “Downside risks have risen, arising from further escalation in geopolitical tensions and heightened volatility in global financial markets,” BNM said in a statement Thursday, also flagging concerns over potentially higher tariffs and elevated asset valuations. Read more: IMF Says Mideast War to Test World Economy, Expecting New Shocks Potential positives include stronger tech spending and pro-growth policy measures in key economies, BNM said, noting that its current monetary policy stance is “appropriate and supportive of the economy amid price stability.” Inflation is also expected to remain moderate. “While global commodity prices may be subject to greater volatility given recent developments, the impact on domestic inflation is expected to be contained,” BNM said. Malaysia has emerged as one of the most resilient economies in Asia in the past year. Consumer demand is robust amid low unemployment, while the global tech boom has lifted the nation’s exports and manufacturing. “The Malaysian economy is facing these challenges from a position of strength, with robust domestic growth, moderate inflation, sound financial sector and resilient external position,” BNM said. Standing pat gives BNM room to act decisively should conditions worsen drastically.
Richard Drury/DigitalVision via Getty Images While some analysts argue, some of them with very good information, that an AI bubble is bursting , I think creative destruction is the main reason for the 2026 uncertainty, beyond the impact of geopolitical conflicts. Creative destruction is a concept developed by Joseph Alois Schumpeter to describe how innovation makes a business more efficient. At th...
Richard Drury/DigitalVision via Getty Images While some analysts argue, some of them with very good information, that an AI bubble is bursting , I think creative destruction is the main reason for the 2026 uncertainty, beyond the impact of geopolitical conflicts. Creative destruction is a concept developed by Joseph Alois Schumpeter to describe how innovation makes a business more efficient. At the beginning, it might be destructive to lose a job or a company closes. But in the end it can turn into something more creative because it frees up capital for more productive sectors. This is just one of the many lessons I learned from Schumpeter when I studied him at university, but I always felt it was the most important for understanding a historic debate among political scientists: capitalism vs. socialism. When I entered the capital markets and began analyzing companies, I realized the debate was even simpler and less ideological: inefficiency vs. progress. With the advancement of AI in recent years, I believe Schumpeter's concept of creative destruction is gaining renewed relevance, especially as we approach a volatile 2026. But I wanted to apply this idea to the release of new intelligent language models by OpenAI ( OPENAI ) and Anthropic ( ANTHRO ). These could render part of the work performed by major IT consulting firms such as International Business Machines Corporation ( IBM ) and Accenture plc ( ACN ), among others, obsolete. I will analyze this sector in more detail later, to better illustrate my idea. I will do it in broad strokes based on IBM and its recent fall, and a little bit on ACN, since they are the companies with the highest capitalization in the industry. The best example is the software industry ( IGV ), one of the segments most affected by AI's rapid advance in 2026, what some are calling the "SaaS Apocalypse." As you can see in the following charts, I compiled the five largest companies by market capitalization in software systems and software ...
Worawith Ounpeng/iStock via Getty Images By Timothy Rahill , Credit Strategist | Jeroen van den Broek , Global Head of Sector Research We note many similarities between this and the Russia-Ukraine war breaking out in February 2022. However, this time around the sell-off is so far less severe and is certainly more orderly. As such, a similar reaction in credit in the coming weeks is likely. But the...
Worawith Ounpeng/iStock via Getty Images By Timothy Rahill , Credit Strategist | Jeroen van den Broek , Global Head of Sector Research We note many similarities between this and the Russia-Ukraine war breaking out in February 2022. However, this time around the sell-off is so far less severe and is certainly more orderly. As such, a similar reaction in credit in the coming weeks is likely. But the sector differences thus far are certainly evident. We break down the reaction we saw last time per sector and compare that to the initial reaction we are seeing now. In addition, as reported by our rates strategist in the latest Rates Spark Day two and the pendulum swings again , the carry trades can suffer in a more volatile environment. "The possibility of ECB rate hikes poses a serious risk to carry trades and could trigger a significant widening of eurozone government bond (EGB) spreads". The same risks are certainly very prevalent in credit, which will drop a notable amount of demand from the market. Sectors such as Banks, Retail, Travel, Real Estate, Consumers, Energy and Oil & Gas are all outperforming this time around with relatively less widening thus far compared to February 2022. On the other hand, Telecoms, Autos, Healthcare and Consumer goods are seeing relatively significant widening. Spread widening now (4 trading days) vs. February 2022 (12 trading days) Source: Macrobond, ING In February 2022, curves went much flatter initially as the short end was under a lot of pressure with about 15-22bp widening, whereas now we are seeing a continuation of long-end underperformance and steeper credit curves. The table below looks at the total widening seen per sector in the initial 12 trading days of February 2022, when spreads peaked before starting to retrace. Alongside that is the widening we have seen in these initial four trading days and how much widening has been pencilled in per sector versus February 2022 as a percentage. Spread Developments February 2022 vs. ...