Sign up now: Get insights on Asia's fast-moving developments Taiwan's Vice-Premier Cheng Li-chiun speaks at a press conference about a US-Taiwan trade deal in Taipei on Jan 20. TAIPEI – Taiwan’s top tariffs negotiator said it would be “impossible” to shift 40 per cent of its semiconductor production capacity to the United States as she rejected claims that the island’s chip industry would relocate...
Sign up now: Get insights on Asia's fast-moving developments Taiwan's Vice-Premier Cheng Li-chiun speaks at a press conference about a US-Taiwan trade deal in Taipei on Jan 20. TAIPEI – Taiwan’s top tariffs negotiator said it would be “impossible” to shift 40 per cent of its semiconductor production capacity to the United States as she rejected claims that the island’s chip industry would relocate. Taiwan is a powerhouse in producing chips – a critical component in the global economy – but the White House wants more of the technology made in America. Washington agreed in a deal in January to lower tariffs on the island’s goods to 15 per cent from 20 per cent, while Taiwan will increase its investment in the US. US Commerce Secretary Howard Lutnick said in January that Washington wanted to shift up to 40 per cent of Taiwan’s chip supply chain and production to the US, warning tariffs could rise sharply if that did not happen. That came after he told US media in September 2025 that Taiwan’s chip production should be split “50-50“ with Washington. But in an interview broadcast late on Feb 8 by Taiwanese television channel CTS, Vice-Premier and lead negotiator Cheng Li-chiun said she had made it clear to US officials that Taiwan’s semiconductor ecosystem would not be relocated. With regard to “40 or 50 per cent of production capacity (being) moved to the United States... I have made it very clear to the US side that this is impossible,” Ms Cheng said. She added that Taiwan’s semiconductor ecosystem was like an “iceberg”, the foundation beneath the water is “enormous”, adding that “an industrial ecosystem built up over decades cannot be relocated”. She said “it will only continue to grow larger”. AFP
nigelb10/iStock via Getty Images Strategy Vanguard High-Yield Active ETF ( VGHY ) is an actively managed high-yield bond ETF with monthly distributions launched on 9/16/2025. VGHY has 344 holdings, a 30-day SEC yield of 5.99%, a yield to maturity of 6.6%, and a net expense ratio of 0.22%. As described by Vanguard , VGHY primarily invests in debt securities rated below investment grade. It may also...
nigelb10/iStock via Getty Images Strategy Vanguard High-Yield Active ETF ( VGHY ) is an actively managed high-yield bond ETF with monthly distributions launched on 9/16/2025. VGHY has 344 holdings, a 30-day SEC yield of 5.99%, a yield to maturity of 6.6%, and a net expense ratio of 0.22%. As described by Vanguard , VGHY primarily invests in debt securities rated below investment grade. It may also use derivatives and invest up to 20% of its asset value in other income instruments such as investment-grade debt securities, U.S. treasuries, convertible securities, preferred stocks, and loans of medium to low credit quality. Portfolio The fund is mostly invested in debt of U.S. issuers (88% of asset value), with minor exposure in Europe (6%) and other regions (2%). About 93% of asset value is in corporate bonds, with 84% in securities with a ‘BB’ or ‘B’ S&P rating or equivalent (the safest tiers of junk bonds). Credit rating profile (Vanguard) The portfolio is heavily invested in the industrial sector (74%). Financials (11%) and utilities (4%) are far behind. Sector breakdown (Vanguard) The fund avoids long-term maturities, with 98% below 10 years and a weighted average of 3.6 years. The interest rate risk is low, with an average duration of 2.8 years. Maturity profile (Vanguard) No holding weighs more than 1.3%. Vanguard doesn’t publish issuer weights. Performance Since 9/23/2025, VGHY has outperformed the junk bond benchmark iShares iBoxx $ High Yield Corporate Bond ETF ( HYG ) by 80 bps annualized, with similar volatility and maximum drawdown (see next table). Obviously, 4.5 months are not enough to assess the active strategy, but it’s a good start. From 9/23/2025 Total Return Annual Return Drawdown Sharpe ratio Volatility VGHY 2.17% 5.79% -1.25% 1.72 1.33% HYG 1.87% 4.99% -1.25% 1.49 1.14% Click to enlarge Data: Portfolio123 Price is close to flat and doesn’t show early signs of capital erosion for now, a frequent issue in high-yield ETFs. VGHY vs. HYG, price return...
"Our advice is to take a step back - a genuine landlord or agent will not put pressure on you. So if they are, ask even if it isn't a scam why they are doing it."
"Our advice is to take a step back - a genuine landlord or agent will not put pressure on you. So if they are, ask even if it isn't a scam why they are doing it."
在实物资产领域的黄金与铜的比价、白银与原油的比价创出新高之外，还有三类比价变化更值得持续关注 近期黄金、白银的暴涨暴跌催化出大类资产市场的剧烈波动，再一次告诫我们，要始终敬畏市场。实际上，在此次市场剧变前，海外方面美国已发生多起黄金诈骗案，境内则有深圳水贝市场杰我睿公司的爆雷，这些端倪应已预示市场即将调整。单纯从对市场变化的感知而言，我们还要反复体会约翰·邓普顿所言的英语中最昂贵的四个字就是“这次不同”（The four most dangerous words in investing are: 'this time it's different.'）。 推荐进入 财新数据库 ，可随时查阅宏观经济、股票债券、公司人物，财经数据尽在掌握。
Tom Werner/DigitalVision via Getty Images Initiating BridgeBio With a Neutral Rating I initiate coverage of BridgeBio ( BBIO ) with a neutral rating, which reflects the balance between tangible de-risking following the US approval/early commercialization of acoramidis (Attruby) in the transthyretin amyloid cardiomyopathy (ATTR-CM) and persistent uncertainty around the long-term competitive positio...
Tom Werner/DigitalVision via Getty Images Initiating BridgeBio With a Neutral Rating I initiate coverage of BridgeBio ( BBIO ) with a neutral rating, which reflects the balance between tangible de-risking following the US approval/early commercialization of acoramidis (Attruby) in the transthyretin amyloid cardiomyopathy (ATTR-CM) and persistent uncertainty around the long-term competitive positioning, pricing durability, and capital intensity of the company. My view rests on the following four core observations: I believe commercial validation has begun, but sustainability remains unproven moving forward. Attruby received FDA approval in late 2024 for ATTR-CM, importantly, making it BridgeBio's first wholly owned commercial product and materially reducing the binary risk. The early prescription trends and management commentary indicate robust initial uptake; however, the visibility around net price, persistence, and payor behavior remains limited. This, in my view, constrains confidence in medium-term revenue durability moving forward. The ATTR-CM remains a large but, at the same time, an increasingly competitive market, with a prevalence of around 100k diagnosed/undiagnosed combined, which, in my view, supports a multi-billion-dollar WW revenue potential. However, I believe BridgeBio is entering a market dominated by entrenched incumbents and expanding RNA-silencing competition. As such, the differentiation in clinical outcome (unclear material advantage vs. Tafamidis) and cost will determine the ultimate market share of the product. Furthermore, I believe the current market expectation of $2-4 Bn in peak sales seems a tad optimistic relative to the historical cardiology launch inertia, especially with the potential Tafamidis genetic launch expected in 2026. Company IR deck Regarding the pipeline perspective, I believe that the pipeline breadth provides optionality, but not visibility. Furthermore, BridgeBio retains multiple late-stage rare disease assets (such as...
Retail coffee chain Luckin Coffee ( LKNCY ) announced the official inauguration of its 30,000th store on Sunday, the first Origin Flagship, in Shenzhen. The 30,000-store milestone highlights Luckin’s vast network across 300+ Chinese cities and expanding presence in Singapore, Malaysia, and the U.S. China’s Luckin Coffee is targeting Starbucks’ high-end roastery market with the new flagship in the ...
Retail coffee chain Luckin Coffee ( LKNCY ) announced the official inauguration of its 30,000th store on Sunday, the first Origin Flagship, in Shenzhen. The 30,000-store milestone highlights Luckin’s vast network across 300+ Chinese cities and expanding presence in Singapore, Malaysia, and the U.S. China’s Luckin Coffee is targeting Starbucks’ high-end roastery market with the new flagship in the south, marking its first major shift from budget kiosks that once helped it surpass Starbucks ( SBUX ) in store count. According to a CNBC report, in contrast to Luckin’s ( LKNCY ) typical offerings priced at roughly $1 or $2 for an Americano or latte, the flagship store has nudged prices slightly higher for a range of pour-over and cold brew coffee drinks. Customers can choose beans from Brazil, Ethiopia, or China’s Yunnan province, as Luckin taps into the geographical sourcing “origin” theme popular with Starbucks and other coffee companies. This store also marks Luckin's first adoption of high-end semi-automatic coffee machines. More on Luckin Coffee I Went To Luckin Coffee And Starbucks: Why I Am Choosing Their Coffee Over Both Shares Luckin Coffee: A Once-In-A-Decade Growth Machine Luckin Coffee: Still Growing, Still Profitable, Still A Buy Centurium Capital tightens control of Luckin Coffee The world's largest restaurant chain made its U.S. debut
"Too often children are not listened to by the professionals in their lives who miss the warning signs, or who fail to respond to the abuse from groomers who use fear as their influence," she says. "Tragically this can lead to victims being ignored, or even punished as offenders, instead of being protected."
"Too often children are not listened to by the professionals in their lives who miss the warning signs, or who fail to respond to the abuse from groomers who use fear as their influence," she says. "Tragically this can lead to victims being ignored, or even punished as offenders, instead of being protected."
Tesla Inc. (NASDAQ:TSLA) has announced updates to the company's Semi truck, with CEO Elon Musk confirming that the EV giant would scale production this year. Tesla Semi Trims The automaker, on its official website on Sunday, shared that the Semi would be available in two trim levels: Standard and Long Range. The Standard trim gets up to 325 miles of range with an energy consumption of 1.7 kWh per ...
Tesla Inc. (NASDAQ:TSLA) has announced updates to the company's Semi truck, with CEO Elon Musk confirming that the EV giant would scale production this year. Tesla Semi Trims The automaker, on its official website on Sunday, shared that the Semi would be available in two trim levels: Standard and Long Range. The Standard trim gets up to 325 miles of range with an energy consumption of 1.7 kWh per mile and a gross combination weight of 82,000 lbs. The Long Range trim features similar specs, but has an increased curb weight of 23,000 lbs — likely due to a larger battery — and offers a range of 500 miles. Both trims can recover 60% of driving range from a 30-minute charge, Tesla says. Elon Musk Confirms Production Ramp In a post on the social media platform X on Sunday, Musk confirmed that the Semi production was going to be ramped up. "Tesla Semi starts high volume production this year," Musk said in the post. Tesla's Semi Deliveries The automaker had delivered the first unit of the Semi to German multinational logistics company DHL, with the company saying that the truck is operating within California and travels 100 miles per day, requiring charging once a week. Benzinga Edge Rankings show that Tesla scores well on the Momentum metric and offers a favorable price trend in the Long Term. Price Action: TSLA surged 3.50% to $411.11 at market close on Friday, further gaining 0.66% to $413.83 during the overnight session. Check out more of Benzinga's Future Of Mobility coverage by following this link. Photo courtesy: Shutterstock