Cullen Capital Management LLC raised its position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 6.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 251,074 shares of the semiconductor company's stock after purchasing an additional 15,698 shares during the quarter. Cullen Capital Management LLC's...
Cullen Capital Management LLC raised its position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 6.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 251,074 shares of the semiconductor company's stock after purchasing an additional 15,698 shares during the quarter. Cullen Capital Management LLC's holdings in Taiwan Semiconductor Manufacturing were worth $70,122,000 at the end of the most recent reporting period. Several other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Taiwan Semiconductor Manufacturing by 20.9% in the 4th quarter. Brighton Jones LLC now owns 10,930 shares of the semiconductor company's stock worth $2,159,000 after buying an additional 1,892 shares during the period. Tyche Wealth Partners LLC increased its stake in shares of Taiwan Semiconductor Manufacturing by 5.0% in the second quarter. Tyche Wealth Partners LLC now owns 1,284 shares of the semiconductor company's stock worth $291,000 after acquiring an additional 61 shares during the period. Joel Isaacson & Co. LLC raised its holdings in shares of Taiwan Semiconductor Manufacturing by 13.8% during the second quarter. Joel Isaacson & Co. LLC now owns 4,136 shares of the semiconductor company's stock worth $937,000 after purchasing an additional 503 shares during the last quarter. Canopy Partners LLC lifted its position in Taiwan Semiconductor Manufacturing by 3.6% during the second quarter. Canopy Partners LLC now owns 10,576 shares of the semiconductor company's stock valued at $2,395,000 after purchasing an additional 364 shares during the period. Finally, BankPlus Trust Department boosted its holdings in Taiwan Semiconductor Manufacturing by 0.7% in the second quarter. BankPlus Trust Department now owns 8,170 shares of the semiconductor company's stock valued at $1,850,000 after purchasing an additional 53 sha...
2026 年的春节，中国互联网久违地嗅到了硝烟的味道。 当腾讯宣布拿出10亿元现金红包推广元宝时，很多人恍惚间以为回到了2015 年微信支付“偷袭珍珠港”的除夕夜。 然而，这场看似熟悉的“红包大战”，其内核已截然不同。如果说十年前的红包大战是为了争夺移动支付的入口，那么今天腾讯在元宝上的激进投入，则是一场针对 AI Agent（智能体）进入真实人类社会的AI社交实验。 在大模型竞赛进入“中途岛时刻...
2026 年的春节，中国互联网久违地嗅到了硝烟的味道。 当腾讯宣布拿出10亿元现金红包推广元宝时，很多人恍惚间以为回到了2015 年微信支付“偷袭珍珠港”的除夕夜。 然而，这场看似熟悉的“红包大战”，其内核已截然不同。如果说十年前的红包大战是为了争夺移动支付的入口，那么今天腾讯在元宝上的激进投入，则是一场针对 AI Agent（智能体）进入真实人类社会的AI社交实验。 在大模型竞赛进入“中途岛时刻”的当下 ，社交不再仅仅是人与人的连接。 从硅谷的 Character.ai 到腾讯的元宝派，再到全自动化的 Moltbook，我们正在见证 AI 社交的三种形态分化：逃避式社交、在场式社交与无人式社交。 01 硅谷造梦，腾讯入世 在AI 社交的探索路径上，东西方正在走向截然不同的方向。 硅谷向左，走的是1V1 的“替代性社交”。 硅谷的巨头们虽然拥有最强的大脑（模型），却普遍缺失最关键的躯体（社交关系链）。无论是Meta 的 WhatsApp 还是 Google 的产品矩阵，都缺乏像微信那样将“支付+生活+私聊+工作”熔于一炉的生态土壤。 Meta虽然拥有庞大的用户群，但 WhatsApp 极其强调简洁与端到端加密，功能单一。 Facebook 和 Instagram 偏向媒体属性而非强关系链。Meta 在 AI 上的探索集中在 Llama 模型的开源和 Meta AI 的问答助手，尚未将 AI 深度植入到用户的“支付-生活-私聊”全链路中。 Google 曾多次尝试社交（Google+）均告失败。尽管 Gemini 强大，但 Google 缺乏一个高频的、基于强关系链的 C 端社交入口。Google 的优势在于搜索和工具（Workspace），而非人情世故。 在巨头之外，以Character.ai 为代表的硅谷新贵，核心逻辑是“避世”。它们构建极其逼真的 AI 角色，提供无条件的接纳与陪伴。 Character.ai并不以提供准确事实为首要目标，而是致力于提供一种富有情感和趣味的互动体验。 其模型专门针对对话进行了大量训练，优先考虑对话的娱乐性、连贯性和拟人感， 但也因此有时会出现“幻觉”（即一本正经地胡说八道），平台会在聊天界面醒目提示“Remember: Everything Characters say is made up!”（记住：角色所说的一切都是虚构的）。...
Joseph Kelly/iStock via Getty Images Introduction Flutter ( FLUT ) is one of the world’s largest online gambling operators, with leading positions in sports betting and iGaming across mature markets (UK, Ireland, Australia, Italy) and faster-growing regulated markets, including the United States and Brazil. The US represents a large opportunity as a growth driver long-term, and as of Q3 accounted ...
Joseph Kelly/iStock via Getty Images Introduction Flutter ( FLUT ) is one of the world’s largest online gambling operators, with leading positions in sports betting and iGaming across mature markets (UK, Ireland, Australia, Italy) and faster-growing regulated markets, including the United States and Brazil. The US represents a large opportunity as a growth driver long-term, and as of Q3 accounted for 36% of revenue. Following the repeal of PASPA in 2018, U.S. states were given autonomy to legalise sports betting. Today 38 states allow sports betting in some form, while significantly fewer permit online casinos (iGaming). Since 2018 most states have gradually opened up access because sports betting can serve as a new source of state tax revenue. Several large markets haven't legalised sports betting, including Alabama, California, Georgia, Minnesota, Oklahoma, Texas, and Hawaii. While the pace has slowed, the long-term trend toward broader legalisation remains intact, suggesting the U.S. market is still many years away from maturity relative to markets like the UK or Australia. In U.S. sports betting, Flutter operates through FanDuel, which shares a duopoly with DraftKings, where on average they maintain around 70% market share across regulated states. FanDuel and Draftkings enjoy scaled economics; when a new state opens up, they're able to promote aggressively (and efficiently) and advertise with larger partners, allowing them to gain market share. It's also well known that these two operators have leading and refined products for consumers. I currently view Flutter shares as approaching a buying opportunity, with shares down 49% from ATHs and 40% from 12 months ago. Sentiment has deteriorated due to weaker-than-expected Q2/Q3 results and louder concerns from analysts/investors over prediction markets eating into sports betting handle. Management also communicated a $320m EBITDA headwind in 2026 from higher UK gambling and sports betting tax duties. This prompted se...
Key Points In 2017, Warren Buffett predicted that the Dow Jones Industrial Average would hit 1 million within a hundred years. This would represent a gain of 4,179% from its level at the time. His prediction will almost surely come true -- but there's an even better way than the Dow to tap into the market's powerful upward bias. 10 stocks we like better than Dow Jones Industrial Average › Legendar...
Key Points In 2017, Warren Buffett predicted that the Dow Jones Industrial Average would hit 1 million within a hundred years. This would represent a gain of 4,179% from its level at the time. His prediction will almost surely come true -- but there's an even better way than the Dow to tap into the market's powerful upward bias. 10 stocks we like better than Dow Jones Industrial Average › Legendary investor Warren Buffett rarely makes predictions on market movements. He once quipped that while forecasts tell you nothing about the future, they can tell you "a great deal about the forecaster." Even so, he made a striking market prediction in September 2017. At a party for the 100th anniversary of Forbes, Buffett predicted that the Dow Jones Industrial Average (DJINDICES: ^DJI) would reach 1 million within 100 years. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » At the time, the Dow stood at 22,370, meaning that it would need to rise by 4,179% to hit 1 million. Amid all the wildcards, including "unknown unknowns" like a once-in-a-century pandemic, inflation reaching 40-year highs, and 2022 marking the worst year for stocks since 2008, how could Buffett be so sure? Buffett's prediction isn't as bold as it seems For all of the uncertainties ahead, it's worth nothing that the Dow rang in the 20th century at 66.08 and closed at 11,497. This 17,299% rise occurred despite numerous disasters, including two World Wars, the Great Depression, the Cuban Missile Crisis, and the "stagflation" of the 1970s in which unemployment surged while inflation hit nearly 15%. Speaking of inflation, how did the Dow's return compare to price changes? The Bureau of Labor Statistics began gathering data for its Consumer Price Index (CPI) in 1913. In the following 87 years, CPI rose by 1,582%.The Dow returned 14,490% in that time frame, beating inflation by nearly 10-to-1. Buffett's forecast might seem conserv...
DarioGaona/E+ via Getty Images By Charlotte de Montpellier , Senior Economist, France and Switzerland Manufacturing output fell in France in December by 0.8%, compared with +0.5% in November. The decline is mainly due to weaker production in transport equipment (which accounts for 13% of French manufacturing output), and more specifically in the aerospace sector, where the sharp drop in December o...
DarioGaona/E+ via Getty Images By Charlotte de Montpellier , Senior Economist, France and Switzerland Manufacturing output fell in France in December by 0.8%, compared with +0.5% in November. The decline is mainly due to weaker production in transport equipment (which accounts for 13% of French manufacturing output), and more specifically in the aerospace sector, where the sharp drop in December offset the increases of the previous three months. Volatility in production is quite typical in this sector, and the decline is not in itself a concern. In fact, over one year, the production of transport equipment is still up by 12.4%. In December, coke production also fell by 0.9% over the month. All other industrial sectors saw an increase in output. Overall, December’s decline is therefore not worrying and does not alter our forecast of a cyclical improvement in industry in the first half of 2026, supported by the European recovery and the German stimulus plan. The improvement in business sentiment is an encouraging sign. Better activity prospects and improving order books should lead to higher industrial production in the coming months. Rising defence spending will continue to support the sector, and aerospace production should remain an important driver of growth. Nevertheless, the recent appreciation of the euro could weigh on exports and therefore on economic activity, particularly in France. The European Central Bank estimates that a further 4.3% increase in the euro relative to the dollar reduces eurozone GDP growth by 0.1pp. In addition, the high tax burden faced by companies may act as a constraint. In recent business surveys, investment intentions remain very weak. All in all, the outlook for 2026 is moderately positive, with GDP growth expected to be around 1% after 0.9% in 2025. Content Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. Th...
Chinese President Xi Jinping holds a video meeting with Russian President Vladimir Putin at the Great Hall of the People in Beijing on the afternoon of Feb. 4. Photo: Liu Bin/Xinhua Chinese President Xi Jinping conducted a dual-track of high-stakes diplomacy Wednesday, holding a video summit with Russian President Vladimir Putin and a separate phone call with U.S. President Donald Trump, as Beijin...
Chinese President Xi Jinping holds a video meeting with Russian President Vladimir Putin at the Great Hall of the People in Beijing on the afternoon of Feb. 4. Photo: Liu Bin/Xinhua Chinese President Xi Jinping conducted a dual-track of high-stakes diplomacy Wednesday, holding a video summit with Russian President Vladimir Putin and a separate phone call with U.S. President Donald Trump, as Beijing attempts to navigate an increasingly fractured global order. During the video conference with the Russian leader, Xi noted that their two meetings over the past year have steered Sino-Russian relations into a new phase. He highlighted the countries’ joint commemoration of the 80th anniversary of the victory against fascism, showcasing a determination to defend the outcomes of World War II and international justice.
GXO Logistics ( GXO ) announced a contract renewal and expansion in the U.K. with BAE Systems ( BAESY ). The six-year agreement will take the partnership into its third decade and further support BAE Systems in the development of Type 26 frigates. GXO will provide warehousing solutions and materials handling at BAE Systems’ Scotstoun and Govan shipyards on the River Clyde in Glasgow, Scotland. Add...
GXO Logistics ( GXO ) announced a contract renewal and expansion in the U.K. with BAE Systems ( BAESY ). The six-year agreement will take the partnership into its third decade and further support BAE Systems in the development of Type 26 frigates. GXO will provide warehousing solutions and materials handling at BAE Systems’ Scotstoun and Govan shipyards on the River Clyde in Glasgow, Scotland. Additionally, inbound to manufacturing and outbound volumes will be managed across an estate of warehousing facilities in the Central Belt of Scotland. Additional support for inbound and outbound transport operations will be coordinated via GXO’s 4PL Control Tower for defense supply chains, and integrated technology solutions will provide enhanced visibility and coordination of inventory movements. The agreement with BAE Systems follows GXO’s acquisition of Wincanton, which strengthened the company’s capabilities and expanded its presence in strategic verticals, including aerospace and defense. Source: Press Release More on GXO Logistics, BAE Systems plc GXO Logistics Promises A Return Below That Of Treasuries And Can't Finance Its Growth From Earnings BAE Systems: Underperformance Isn't What It Seems; Here's The Real Story BAE Systems: The Overvaluation Is Clear BAE Systems workers in Northwest England set to strike over pay dispute Rising military budgets are reshaping Europe’s defense industry