內地近日有古裝劇，飾演將軍的男主角，被外界指是「粉底液將軍」。國家廣電總局要求，電視劇行業要杜絕「顏值崇拜」，避免「流量依賴」。 古裝劇《逐玉》近期在內地掀起追劇潮，不過劇中飾演「武安候」的男主角就被指「太厚粉」，在沙場上仍面容光潔、髮絲整齊，早前被官媒批評，偏離社會對歷史認知，「價值觀在向顏值觀讓步」。 國家廣電總局電視劇司，周四召開電視劇健康審美座談會。參加會議的包括愛奇藝、騰訊視頻等網絡視聽平台，以及正午陽光等製作機構負責人。 會議提到，電視劇行業仍存在片面追求，「顏值至上」的不良創作傾向，有劇集出現演員妝容過度，部分服裝化妝與人物性格、故事場景脫節等問題，會議指出樹立健康審美觀念，是關乎文藝方向、文化自信及行業未來的重要命題，要將這個觀念融入創作過程，令作品成為彰顯中國精神、中國價值等的載體。 強調電視劇行業要堅決摒棄畸形審美，堅守創作審美底線，要杜絕「顏值崇拜」，避免「顏值至上」及「流量依賴」，堅持「內容為王」，要令服裝、化妝及道具，與人物形象符合，呈現健康向上的精神特質，體現中國風格，展現文化自信。

Pakistanis faced record fuel price increases on Friday, as petrol and diesel prices rose by up to 54 per cent driven by the war in the Middle East that has caused global oil prices to surge. The increase adds pressure to a cash-strapped nation already grappling with high inflation, as economists warned the hike would push up food prices and living costs. Pakistan’s Petroleum Minister Pervez Malik said late on Thursday that the increase was “unavoidable”. He said the government was forced to...

妙可蓝多发布业绩快报，第一季度营业总收入16.26亿元，同比增长31.81%。净利润7555.8万元，同比下降8.30%。本期营业收入增长的主要原因为公司ToB、ToC双轮驱动战略举措成效显现，C端、B端业务同比均有超20%增长，其中，C端常温、低温、电商板块同比均有较好增长，B端主要为餐饮、大客户增长。

清明假期前夕，廣東城際鐵路多條路線加開列車，以應付客流。在番禺站，不少人提早回鄉掃墓，車站指會加派人手疏導。 在番禺站出站口，不少人選擇避開人流高峰，帶同行李提早回鄉祭祖。 佛山民眾龐小姐表示：「我回到廣州的時候，就感覺突然很多人，出門口的時候差點打不到車，我沒有趕上我原來那班車，坐了下一班車回來。」 福建民眾張先生指出：「提前兩個小時吧，早點去吧，我們現在回去，等以後下一代也會回去拜我們，是一樣的。」 亦有人趁假期來廣州旅遊。 東莞旅客余小姐說：「廣州的風土人情挺好的，能體現廣東的特點，很多人，我們從東莞過來也覺得很多人。」 因應清明節假期大批民眾出行，廣東城際鐵路調整列車班次，包括周五至下周一期間，廣州往返清遠、惠州、肇慶，將增開6班至26班車，而廣州來往深圳，周六增開8班車。作為中轉站之一的番禺站，預計周五、周日下午，是人流高峰期。 廣東城際番禺中心站站長余豐稱：「番禺站是廣東城際線網的一個比較重要的樞紐車站，它比較靠近廣州南站，所以旅客去全國各地，都會到番禺站換乘高鐵。」 車站指清明假期間客流較大，若車廂超載工作人員會及時疏導，並盡快增加運力，提醒乘客做好出行時間規劃。

口腔护理从不是近年热潮，从《礼记》“鸡初鸣，咸盥漱”的古老习惯，到宋代马尾牙刷与牙粉雏形，再到现代电动牙刷普及，人们对口腔健康的追求从未停歇，护齿理念也不断升级——从基础清洁，到如今“精准清洁、专业护龈”的精细化阶段，核心始终是解决“无效刷牙”痛点。随着国民健康意识觉醒，口腔护理已成为全民健康管理的重要部分，大众对“有效清洁”的迫切需求，更折射出国内口腔护理市场的转型变化。 调研数据显示，我国超七成成年人存在牙周问题，根源正是日常清洁不到位。但多数消费者对此并无感知，这一现象背后，是一个典型的结构性矛盾：高频刷牙行为与低效清洁结果之间的长期脱节。自1989年“全国爱牙日”设立以来，全民口腔健康素养不断提升，85%的居民对口腔保健持积极态度，但正确的清洁方式与高效的清洁工具仍未普及。如今消费者愈发理性，摒弃花哨冗余功能，更看重专业实效，回归护理本质，已成行业破局内卷的核心方向。 正是基于对大众口腔护理痛点的深刻洞察，以及对行业发展趋势的精准把握，3月28日，在2026“首发上海”活动现场，飞利浦专业个护正式发布全新升级的专业声波洁牙科技。搭载这一技术的飞利浦Sonicare钻9专业大师刷同步重磅亮相，用硬核科技回应全民对“有效清洁”的长期期待，秉持“相信专业，从齿改变”的品牌内核，重构日常口腔护理标准。 此次专业声波洁牙科技的升级，并非一次“全新技术”的推出，而是基于既有声波技术的持续迭代与能力深化。飞利浦在该领域已深耕33年，从早期基础振动清洁，到如今通过流体动力与精控马达实现更高效的清洁覆盖，其演进逻辑更接近一条持续升级的技术，而非阶段性的替代式创新。这种长期深耕的态度，与人类对口腔健康的长期追求高度契合，也让飞利浦得以跳出行业同质化内卷，直击大众长期困扰的“无效刷牙”痛点。 支撑这一技术的，是飞利浦长期构建的研发与创新体系。作为拥有135年发展历史的全球科技企业，飞利浦自1985年进入中国市场以来，已深耕本土超过40年。这种以长期积累为基础的技术迭代模式，使其在相对成熟的口腔护理赛道中，仍具备持续提升核心性能的能力，依托集团长期的技术沉淀与医疗级研发背景，不仅为产品赋予了专业保障，更让高端科技得以落地民用，真正服务于大众口腔健康。 为了让消费者直观感受全新声波洁牙科技的实效，3月28日2026“首发上海”活动现场，飞利浦在其健康生活全球体验店打造沉浸式体验专区。...

以“宅家吃火锅”为场景的锅圈，近期交出一份颇具看点的成绩单。 最新发布的2025年年报显示，锅圈全年营收78.1亿元，同比增长20.7%；毛利16.87亿元，同比增长19.0%；核心经营利润（非国际财务报告准则计量）为4.61亿元，同比增长48.2%；净利润达4.54亿元，同比大幅增长88.2%。 这是锅圈上市以来最好的一份年报。这一营收规模，约是2025年实现营收37.89亿元的呷哺呷哺的两倍，相当于海底捞年营收432.25亿元的约六分之一。 不同的是，数千家乡镇门店，撑起了锅圈2025年最重要的增长叙事。 2025年全年，锅圈净新增门店1416家，其中仅第四季度的新增门店数，就超过了前三季度的总和。进一步看，全年净新增的乡镇门店达1004家，使得乡镇门店总数增至3010家，在总门店中的占比已超过四分之一。 在乡镇市场的高速开店，究竟是锅圈新一轮繁荣的起点，还是最后的狂欢？ 抓住乡镇“救命稻草”，锅圈闷声狂揽78亿 锅圈从起家到实现万店规模，依托的是40至80平方米的社区小店模型，这些门店主要布局在人口密度较高的小区周边。然而，随着疫情后“宅家红利”逐渐消退，锅圈一度陷入经营震荡，2024年公司股价较最高点一度蒸发265亿元。 过去一年，锅圈的增长几乎全靠第四季度在乡镇市场密集开店。相比之下，一二线城市的开店步伐已基本停滞。 具体来看，2020年至2023年，锅圈门店数量分别为4296家、6864家、9216家和9910家，并于2023年11月完成上市。而根据窄门餐眼的数据，目前其在营门店总数为10879家。若按全年净增乡镇门店1004家计算，其他区域的门店总量几乎退回2023年的水平，增长陷入停滞。 火锅本身是低频、季节性品类，在乡镇市场很难单独跑通。锅圈进入乡镇，实质上做的是更广泛的冻品批发生意。一位乡镇加盟商告诉Tech星球，他的门店面积有80平米，已增加了米面粮油等品类，除了面向镇上的年轻客群，还有面向周边小超市做批发冻品的B端生意。 比起在一线城市，锅圈在下沉市场设置了价格更低的散装大袋包装，锅圈想要瞄准的是乡镇超市、餐饮店内的冰箱里的冻品。2024年7月，锅圈收购了华鼎冷链，后者服务网络已覆盖全国2800个以上的区县，为锅圈下沉市场的跑马圈地打下了基础。 广袤的乡镇市场，目前尚属于空白市场，且冻品生意潜力大。中国有近300个地级市、2800多个县城、4...

Two teenagers and one man are arrested after a boy, 14, was shot dead in Woolwich on Thursday.

白宫表示，美国总统唐纳德·特朗普的2027财年预算案包括1.5万亿美元的国防支出。 特朗普还寻求在该财年将非国防可自由支配支出削减10%。 白宫发布有关特朗普2027财年预算案的情况说明文件。 责任编辑：江学思

财联社4月3日讯（记者 徐昊） 4月3日，财联社记者获悉， 比亚迪 王朝网旗下三款车型推出限时优惠活动，优惠活动时间为4月1日至4月30日，涵盖2026款秦L DM-i、汉L DM及唐L DM三款车型，均搭配金融政策。 2026款秦L DM-i的优惠力度尤为突出，限时补贴后起售价低至8.98万元，较原起售价9.68万元优惠7000元，优惠权益包含3000元限时充电补贴红包和4000元限时超级置换补贴；汉L DM与唐L DM则可享受1.5万元置换补贴。这三款车型均提供7年低息、3年0息的灵活金融政策，其中2026款秦L DM-i首付仅3.98万元起，前3年免息，进一步提升了购车性价比。 “此前4000元的置换补贴和充电补贴原本就有，这次将充电补贴提高了1000元至3000元。”有比亚迪内部人士表示，“算不上‘降价’，只是把之前既有的权益单独做了‘量化’和微调。” 作为王朝网的热销车型，2026款秦L DM-i于1月8日正式上市，新车纯电续航最高提升至210km，产品力实现进一步升级。“秦L DM-i一直是我们的热销车型，趁着这次假期推出优惠活动，也是为了进一步推高销量。”有比亚迪销售人员称。 被纳入“限时优惠”的比亚迪汉L和唐L系列车型，于去年11月份正式发布，均包含EV与DM两种动力版本，此次限时优惠活动仅针对DM版本。“目前汉L EV与唐L EV已无现车，均处于改款等待阶段。”上述销售人员透露，后续比亚迪将推出2026款汉EV和比亚迪大唐两款新车，这两款车型均将搭载比亚迪最新的第二代刀片 电池 ，近期也有不少潜在用户到店咨询。 数据显示，3月比亚迪王朝网秦、汉、唐家族总计销量为41914辆，占集团总销量的14%。 受年初行业淡季与政策退坡影响，比亚迪2026年一季度1-2月销量同比承压，3月实现销量回暖。数据显示，比亚迪3月销售新车300,222辆，重回30万辆月销区间，出口量达120,083辆、同比增长65%，但国内销量同比降超41%。 今年3月，比亚迪便曾针对元UP、秦PLUS DM-i、秦PLUS EV等车型推出限时优惠，而进入4月后，优惠力度进一步加大。同月，比亚迪推出第二代刀片电池与闪充技术，从10%充至70%，充电时间为5分钟；从10%至97%，充电时间仅需9分钟，同步推出的还有10款搭载第二代刀片电池的车型，覆盖仰望、腾势、方程豹等多个系列。随后，比...

Exclusive: Group of MPs and animal charities call for end to practice after Scotland and Wales vote to phase it out Keir Starmer is coming under pressure from backbench Labour MPs to ban the “cruel” practice of greyhound racing. The Welsh and Scottish governments voted last month to phase out the practice. Animal welfare groups say thousands of dogs in the UK have died in recent years owing to racing in the “inherently dangerous” sport. Continue reading...

In these turbulent times, The Resistible Rise of Arturo Ui has never been more vital, and returns to the stage starring the Sherlock star and with music by the alt-rockers. But, they say, they don’t just want to preach to the choir When the former Conservative MP Nadhim Zahawi defected to the Reform party, he described the UK as diseased. “Our wonderful country is sick,” he said. “Britain needs Nigel Farage.” At a far-right rally last year, Elon Musk told supporters: “Violence is coming to you. You either fight back or you die.” These sentiments are expressed, almost verbatim, in Bertolt Brecht’s exacting 1941 satire about the rise of Hitler, who frequently referred to Germany as diseased, in danger and in urgent need of protection. In rehearsals for the Royal Shakespeare Company’s upcoming production of Brecht’s The Resistible Rise of Arturo Ui, the cast have been exploring the uncanny parallels between the blackly comic melodrama and current events in Britain and across the Atlantic. “It’s the same rhetoric,” says Mark Gatiss, who stars as Arturo Ui. “You just give it 80 years. The second world war generation has died out, so it’s fertile ground again. The same bullshit works. It’s really frightening.” Continue reading...

Vibrant seagrass meadows once flourished around the UK but most have been destroyed. Now, communities and scientists are working to restore them “There’s not many jobs where you get to be a sea gardener,” says Dr Oliver Thomas, senior science officer at Project Seagrass. He’s looking for flashes of eel grass that have survived the winter in the wide golden sand of Penrhyn beach on Ynys Môn (Anglesey), in north Wales. But growing a meadow in the sea is not an easy job. Vast swathes of the gorgeous underwater swards, vital nurseries for fish such as cod, have been wiped out around the UK in the past century. Up to 92% have been lost. Restoring them – and their water-cleaning, carbon-storing, coast-protecting benefits – is a colossal challenge. Continue reading...

Centre wonders if he will play another Test but remains positive as his club side meet Saracens in Champions Cup There have been some small but significant changes at Bath’s stately home training base at Farleigh House this week. Black flags, to complement their bespoke Champions Cup kit, flutter in the spring breeze and up in reception is the precise number of days and matches left this season should the club keep winning. “Choose Greatness” reads another motivational sign ahead of their last-16 encounter with Saracens. One particular player, though, needs no extra impetus. One moment Max Ojomoh was accepting the man of the match award after a fine display for England against Argentina in late November, the next he was losing his Six Nations squad place. Even if he hadn’t turned up for this interview wearing a tight black bandana on his head, the 25-year-old would still look and sound like a man on a mission. Continue reading...

A modern twist on the old fashioned Our cocktail list features both classics and new ones we’ve created ourselves, including this old fashioned of sorts. George Lewis, drinks creative, Acre , London W10 Continue reading...

TV’s most outrageous family is back – and for the Breaking Bad icon, it’s a great excuse to let rip ... and get naked again. The stars talk skivvies, chugging raw meat and being stung in the crotch by 60,000 honey bees The intro to the new Malcolm in the Middle is quite the thing. Kids punch police officers. Santa Claus gets kicked in the face. A barrel full of faeces detonates inside a family car. This recap of previous episodes is so full of gross-out comedy and family fights that a grandma grabs her teenage grandson and crushes his testicles until he squeals. “And,” intones a voiceover at its end, “someone actually asked for more of this.” Did they? It’s been 20 years since the Emmy-winning sitcom about an outrageous working-class US family with the titular child genius went off air. It’s a show whose fans remember it fondly for never dipping in quality throughout its seven seasons. But were they really clamouring for more? Continue reading...

As the first three months of 2026 end, investors are placing record bets against risky biotech and telehealth startups while flocking to stable pharmaceutical giants for safety. This shift is being driven by higher interest rates, rising energy costs, and new government crackdowns on specific medical services. Short interest in volatile telehealth and biotech names has hit record levels this March, led by Hims & Hers Health ( HIMS ) at a staggering 37.93%. Joining it at the top of the bearish list is Tango Therapeutics ( TNGX ), which currently carries a 33.11% short interest. In contrast, some healthcare giants like Eli Lilly ( LLY ), Danaher Corporation ( DHR ), and Johnson & Johnson ( JNJ ) have very low short interest at 0.77%, 0.78%, and 0.97%, respectively. They are joined by industry leaders Thermo Fisher Scientific ( TMO ) and Stryker Corporation ( SYK ) all of which maintain short interest levels well around 1%, because they are considered much safer bets during uncertain times. iQoncept/iStock via Getty Images Healthcare stocks are trailing the broader market so far this year. While the S&P 500 has struggled with a 3.95% decline year-to-date, the Health Care Select Sector SPDR® Fund ( XLV )—which represents roughly 12.1% of the benchmark index—has declined 5.07%. Here are the top 5 most shorted mid- to mega-cap healthcare stocks (as a % of shares outstanding) as of March 31: Hims & Hers Health ( HIMS ) - Health Care Services sector, short interest 37.93% Tango Therapeutics ( TNGX ) – Biotechnology sector, short interest 33.11% Acadia Healthcare Company ( ACHC ) - Health Care Facilities sector, short interest 27.23% TransMedics Group ( TMDX ) - Health Care Equipment sector, short interest 24.29% Syndax Pharmaceuticals ( SNDX ) – Biotechnology sector, short interest 23.23% Here are the five least shorted mid- to mega-cap healthcare stocks (as a % of shares outstanding) as of March 31: Eli Lilly and Company ( LLY ) – Pharmaceuticals sector, short interest 0.7...

The only thing magnificent about the "Magnificent 7" S&P 500 stocks this year is the size of their losses.

中共中央政治局委員馬興瑞，涉嫌嚴重違紀違法，正接受調查。 66歲的馬興瑞是山東人，博士畢業後，作為航天專家，他早年的工作主要同航天工程相關，包括中國航天科技集團總經理、國家航天局局長等。 2012年中共十八大，馬興瑞當選中央委員，2013年馬興瑞調到廣東，先後出任省委副書記、深圳市委書記，2017年出任廣東省省長，與港澳兩地有頻繁交流。 2021年調任為新疆維吾爾自治區黨委書記。去年五月，當局公布他不再兼任在新疆的職務，另有任用。但此後並未公布其新職務。而新華社周五發布的通稿中，其身份是中共中央政治局委員、中央農村工作領導小組副組長。 內地傳媒報道指，馬興瑞自去年九月底後，未有出席官方大型活動，亦缺席今年三月舉行的全國兩會。 馬興瑞本身是二十屆中央政治局委員、十八至二十屆中央委員，他亦是繼何衛東、張又俠兩名解放軍高層後，同屆第三名落馬的中央政治局委員。

In a rare condemnation of its strategic partner, China has come out in opposition to Iran’s attacks on Gulf nations, calling for a ceasefire and a guarantee of the safety of shipping lanes. Addressing a UN Security Council meeting on Thursday, Fu Cong, China’s permanent representative to the United Nations, said: “China does not support Iran’s attacks on Gulf Cooperation Council nations and condemns all indiscriminate attacks on innocent civilians and non-military targets. The security of...

Erik Isakson/DigitalVision via Getty Images Bitfarms ( BITF ) reported earnings for Q4 and full year 2025 two days ago, and announced key strategic and corporate developments alongside earnings that stand to restructure the entire business model and identity of the company moving forward. This piece will focus on the implications of those developments beyond just a recap of the results. My January coverage of BITF was titled "Bitfarms: Holds Ground As HPC Permit Review Tests Its Pivot," and I called the January 28 Grant County hearing at Moses Lake the first real test of the entire HPC pivot thesis. BITF was trading around $2.60 during that January coverage, and is now around $1.98, a ~24% decline. I believe Bitfarms heavy convertible debt load and the heavy dilution risk (lots of dilution happened in FY25, ~165.1 million shares added from the 2024 ATM program alone) are the reason that approval didn’t move the needle on BITF price much. Bitcoin has also fallen since January and the sector-wide weaker sentiment played a role too. My Hold rating for BITF has been right twice in a row, and in this piece I am not yet ready to upgrade to a Buy, despite the most consequential transformation this company has just undergone. Bitfarms completed its U.S. redomiciliation from Canada and rebranded as Keel Infrastructure Corp. (KEEL) on April 1, and will be trading under the new ticker KEEL on both Nasdaq and the TSX from April 6. Every outstanding share of BITF common stock has been approved by shareholders (99.3% of shareholders backed it), to be exchanged one-for-one for KEEL common stock. Thus, the entire corporate entity (its assets, liabilities, its $588 million in convertible notes, and its 2.2 GW pipeline) now sits under U.S.-based Keel Infrastructure. Keel Infrastructure - The Energy Portfolio and Business Model Keel Infrastructure is currently a development-stage data center owner and operator targeting powered-shell and colocation leases to hyperscale customers acros...

Tencent Holdings has launched a new OpenClaw tool for enterprises that promises easy deployment of the artificial intelligence agent as part of the Chinese internet giant’s efforts to capitalise on the “lobster” frenzy in the country. ClawPro, launched in public beta by Tencent’s cloud unit on Thursday, works as an AI agent management platform for enterprises, allowing them to deploy OpenClaw templates, select models and agents, track token consumption and manage security settings. Tencent said...

SpaceX confidentially filed what could wind up being the biggest-ever IPO. If investors value the company the way Elon Musk hopes they will, it would make Musk the world’s first trillionaire. This week on Everybody’s Business, Dana Hull joins Stacey Vanek Smith and Max Chafkin to explain why there is more reason than ever to be skeptical of Musk’s promises. (Source: Bloomberg)

Sam Altman, CEO of OpenAI, is pictured on Sept. 25, 2025, in Berlin. Florian Gaertner | Photothek | Getty Images Over 10 months after shelling out an eye-popping $6.4 billion for Jony Ive's nascent devices startup, OpenAI announced another surprising deal on Thursday, snapping up a media business that streams a three-hour daily tech talk show. For a company that's facing intensifying investor scrutiny as it racks up billions of dollars in losses tied to its infrastructure buildout, OpenAI's M&A strategy is tough to pin down. After the startup, now valued at over $850 billion, announced it purchase of Technology Business Programming Network, OpenAI CEO Sam Altman said in a Thursday post on X that, "TBPN is my favorite tech show." "I don't expect them to go any easier on us, am sure I'll do my part to help enable that with occasional stupid decisions," Altman wrote . Read more CNBC tech news SpaceX confidentially files for IPO, setting stage for record offering Five key questions Apple faces entering its second half-century Baidu robotaxis reportedly halted mid-traffic causing crashes in Wuhan, China Iran threatens Nvidia, Apple and other tech giants with attacks It's a pivotal moment for OpenAI, which is prepping for an IPO as soon as this year. The company's core products — its popular artificial intelligence models and ChatGPT chatbot — face intensifying competition from Google , Anthropic and Elon Musk's xAI, which is likely to hit the public market first through the anticipated offering of SpaceX . OpenAI has been reeling in its spending expectations and last month shuttered its Sora video app that quickly went viral after its launch six months earlier. It's not readily clear how TBPN fits into OpenAI's strategy, but the AI market is moving so quickly that the most logical moves today may make little sense tomorrow. "When you have more and more disruptive competitors showing up, they need to build things that give people a unique reason to pick ChatGPT over other...

香港公司註冊數字再創新高。去年本地新成立及遷冊公司總數達19.5萬間，平均每小時有22間新公司誕生，即每6分鐘就有兩間公司成立。公司遷冊制度推出後，吸引盧森堡、開曼群島及百慕達等地企業將註冊地遷至香港，反映香港作為國際商業樞紐的吸引力。 ▌ 美商會調查：逾半美企對港前景樂觀 44%指營商環境「非常好」 香港美國商會最新調查顯示，超過一半美企對香港前景樂觀，較去年的33%明顯上升；44%企業更認為香港營商環境「非常好」及「好」，按年增加7個百分點。外資對香港市場信心持續增強。 ▌ IPO勢頭強勁 400間企業排隊上市 重奪全球榜首後勢不可擋 新股市場同樣熱鬧，超過400間公司正排隊上市。香港重奪全球IPO榜首後，勢頭持續強勁。 ▌ 大行用錢投信心票：Point72 租 The Henderson 7層 瑞銀租西九龍 ICC 2B座全棟14層 大行以實際行動投下信心一票。市傳美國對沖基金Point72已簽署協議，向恒地租用中環商廈The Henderson合共7層樓面，涉及8.5萬平方呎。瑞銀也租用西九龍國際商業中心第2B座全棟14層，簽訂10年長約，反映金融機構對香港市場的長遠信心。 ▌ 法治專業服務成優勢 香港是進入內地市場最佳橋頭堡 企業看中的是香港的法治和專業服務。對於有意進入內地市場的企業，香港永遠是最好的橋頭堡，這正是香港營商環境的核心競爭力。

Sakorn Sukkasemsakorn/iStock via Getty Images Co-authored by Kody's Dividends How's your New Year's resolution going? It's April, which means that we have now enjoyed over 90 days of the new year. Did you know that for the vast majority of New Year's resolution makers, about 80% of people, start losing their motivation or give up on their New Year's resolution altogether by January 9th? That's only 9 days after committing themselves to something new and great. There is something to be said about an individual who commits themselves to a lifelong pursuit when compared to the vast majority of us who can't seem to get it together for more than nine days after a New Year's resolution. There's a subset of investors who love to focus on companies that have grown or raised their dividend for decades. The reason for this is that, to be honest with you, most companies never make it to this storied height. The ability to reach Dividend Aristocrat status is rare and lofty, specifically because companies often face struggles over the decades that it takes to reach it and fail to grow their dividend, or they even cut their dividend. Being a Dividend Aristocrat wouldn't be special if every company could make it. Investing in companies with long histories of dividend growth can provide you with outsized returns, but you can't specifically look at just the dividend growth history alone to determine if the company is healthy. Ailing companies will at times raise their dividends to try to keep investors around, even if the wheels are starting to fall off the car. This is why I strongly believe in a data-driven analytic approach to evaluating companies. Today, I want to take a look at a company that is fast approaching Dividend Aristocrat status, to enter it into the storied halls with other companies that many investors know and love. But first, I want to evaluate if the company is healthy, or whether it is a zombie that is slowly approaching the finish line, only to fall over when t...

Supatman/iStock via Getty Images Introduction If you are like me, F&G Annuities & Life, Inc. ( FG ) is not a company you have heard of. That is understandable, as it’s Total Investments ($68B) is a fraction of what the well known Prudential Financial ( PRU ) has at $469B. I suspect that is one of the reasons investors in the FG Notes earn a higher yield then PRU Note holders do. The FG Notes reviewed are as follows: F&G Annuities & Life Inc. 7.950% Senior Notes due 12/15/2053 ( FGN ) F&G Annuities & Life, Inc. 7.30% Junior Subordinated Notes due 1/15/2065 ( FGSN ). In the comparison section, the Prudential Financial, Inc. 5.950% Junior Subordinated Notes due 9/1/2062 ( PRH ) will be included so readers can see the yield difference for themselves. I am giving the FGSN Note a Buy rating for its 9.1%, though I might hold off building a full position until the price decline appears to have climaxed. Holders of FGN might consider Selling and transferring their position to FGSN, especially if they can capture a tax loss. F&G Annuities & Life reviewed Data by YCharts While this article focuses on the two Notes, I always feel better about those if the common is performing well, which currently is not the case here. Seeking Alpha describes this company as (edited): F&G Annuities & Life, Inc., together with its subsidiaries, provides annuity and life insurance products in the United States. It offers fixed indexed annuities registered index-linked annuities, pension risk transfer and indexed universal life, and multi-year guarantee annuities; immediate annuities; indexed universal life insurance; pension risk transfer solutions; and institutional funding agreements. The company distributes its products through independent agents, banks, and broker-dealers to retail annuity and life customers, as well as institutional clients. The company was founded in 1959 and is headquartered in Des Moines, Iowa. F&G Annuities & Life, Inc. is a subsidiary of Fidelity National Financial, Inc...

MicroStockHub/iStock via Getty Images I assume this is the case for anyone in my field: I'm always trying to get better. Every single day. One thing I'm trying to do better is get to the point faster in my articles. Sure, you have the bullets, but a long time ago I was taught the good old "inverted pyramid" approach to journalism. Where you start with the big stuff, the broad conclusions, and then get into more detail as you go down the pyramid that is the article. So here goes. 1. This stock market looks terrible to me. From any angle I look at. And oh, I have tried to find angles. Short-term for sure, but long-term as well. 2. But here's the thing. The long-term is very dependent on the short-term at times like this. Markets can set you back several years if you are not careful. 3. I scout ETFs and stocks , and my conclusion 40 years into this is as follows: the vast majority of them don't matter. That is, if long-term total return is your goal. They don't matter, not because of the businesses or products themselves. But because markets simply do not function as they did prior to 2020. 4. During this "post-pandemic era" (the start of 2020 through today), the markets have apparently been on a quest for unity. Blame the algorithmic traders, blame the mass flows into index ETFs, especially those tracking the S&P 500. You can blame me if you want (I'm used to it!), but I'm just reporting the most significant evolution I've observed over those 40 years. 5. That problem requires a solution . Sure, stock and ETF trading can still generate alpha in the short term. I'm talking about periods of 3-5 years and much longer. And over those time frames, if we find a "winner" in hindsight, that means nothing about the future. Case in point: long-term bonds were a great investment from the 1980s through 2022. Since then, they've been a disaster. And now, while they are getting very attractive to me again, you won't figure that out by looking at trailing returns. Here's what I mean...

akinbostanci/iStock via Getty Images High quality REITs are currently trading as if they have negative entity value. Asset value can be measured with reasonable accuracy by looking at present day transaction prices. Many large cap REITs are trading at enterprise values billions of dollars below the measurable value of their assets. This implies that they have substantially negative entity value (the value associated with the company itself). The market is pricing them as if the assets become less valuable by being attached to the specific company. It can happen, but as we dig deeper into this idea, I think it will become clear that it is more likely to be a pricing disconnect that represents opportunity. Negative entity value REITs can be thought of as consisting of 2 components: A portfolio of physical real estate The entity that manages the real estate From this lens, the value of a REIT would be the value of the real estate plus the value of the entity. A strong entity adds value in a variety of ways. Some of the most common sources of value add are: Skillful operations Efficiencies of scale Intelligent acquisition and disposition decisions Proper stewardship of shareholder capital In contrast, a really bad manager could have negative value in that their poor decisions would prevent the value inherent in the real estate assets from fully benefiting shareholders. In such an instance, the overall REIT would be worth less than the underlying value of the real estate as the assets would essentially be encumbered by being tied to a low skill or misaligned manager. We have seen many instances of this in REITs such as the companies managed by RMR or Ashford (in my opinion). The underlying assets might be very profitable, but bad managers detract from that value by issuing shares dilutively or taking far too large paychecks. Such companies should and do trade well below net asset value (NAV). In the current market, however, there is a phenomenon in which exceptionally we...

DragonImages/iStock via Getty Images Thesis Atlas Energy Solutions ( AESI ) has two business lines. The first is the company’s long term business in selling and delivering sand to the oil and gas industry for hydraulic fracturing of wells. The second is rather new following the acquisition of Moser Energy Solutions, giving the company access to modular power technologies. This acquisition serves as a springboard for the company as it has been able to leverage these new capabilities with Caterpillar ( CAT ). The company has structured a deal with the generator set provider to deliver 2 GWs worth of deployable power. The first wave of deployments are expected to enter service in mid-2026, giving the company a steady and long winded growth trajectory. This and the potential for a rebound in the company’s traditional sand business create a compelling growth investment opportunity for investors. I rate AESI as a STRONG BUY due to the potential for significant FCF generation by the end of the decade. Recap From Previous Analysis I last covered AESI in September of 2025. In that analysis, I covered many of the unique aspects of the company’s sand production business as well as its novel Dune Express conveyor system. This system, as well as superior sand mines, give the company a lower cost basis compared to its peers. Dune Express and Autonomous Trucking Competitive Advantages (AESI Investor Presentation) However, despite this the sand industry has struggled recently due to an over-supplied environment. AESI has been able to remain profitable due to its competitive advantages, allowing the company to outperform competitors in the challenging market. I originally expected a soft conclusion to 2025 as well activity normally experiences seasonal decline to conclude each calendar year. That prediction panned out to be largely correct as oil field activity slowed toward the end of the calendar year. Data by YCharts Unfortunately, the company reported that Q1 would also be weak....