The operator of Hong Kong’s Mandatory Provident Fund (MPF) has tightened its online security by scrapping an electronic verification system after scammers used forged identity cards to open accounts and steal residents’ pensions. Ayesha Macpherson Lau, chairwoman of the Mandatory Provident Fund Schemes Authority, said in a blog post on Sunday that the authority had jettisoned the identification to...
The operator of Hong Kong’s Mandatory Provident Fund (MPF) has tightened its online security by scrapping an electronic verification system after scammers used forged identity cards to open accounts and steal residents’ pensions. Ayesha Macpherson Lau, chairwoman of the Mandatory Provident Fund Schemes Authority, said in a blog post on Sunday that the authority had jettisoned the identification tool for the electronic Mandatory Provident Fund (eMPF) platform in favour of the government’s one-stop verification app, iAM Smart. The face-recognition system, known as “electronic Know-Your-Customer” or eKYC, was previously listed as an option alongside iAM Smart. But it was suspended after a scam was uncovered last month in which criminals used bogus identity cards to bypass the system and register with eMPF, making off with HK$1.8 million (US$231,300) from pension accounts. Advertisement “The cases do not involve the leakage of personal information from eMPF, but we absolutely cannot fail in our security work to protect the retirement savings of working people,” Lau said in her blog post. She noted that since the introduction of the eMPF platform, 80 per cent of users had registered through iAM Smart, while the remainder used the eKYC system. However, going forward, all users would be required to register through iAM Smart. Advertisement “The iAM Smart was recently introduced to enhance verification measures; therefore, the requirement to register with eMPF using the portal would better protect users’ interests,” Lau said. Those who registered for eMPF through the scrapped eKYC tool would have to undergo additional verification via iAM Smart when withdrawing funds.
Investors will probably like Royal Caribbean's long-term performance. Investors have long had a unique take on Royal Caribbean (RCL +0.20%) stock. Despite its position as the second-largest cruise line behind Carnival, it supports a market cap twice the size of its larger rival. Royal Caribbean tends to attract a higher-spending customer, and observers tend to perceive its ships as more innovative...
Investors will probably like Royal Caribbean's long-term performance. Investors have long had a unique take on Royal Caribbean (RCL +0.20%) stock. Despite its position as the second-largest cruise line behind Carnival, it supports a market cap twice the size of its larger rival. Royal Caribbean tends to attract a higher-spending customer, and observers tend to perceive its ships as more innovative. Such conditions may leave investors wondering how to approach Royal Caribbean stock. Should they hold for the long-term or treat it as a trade? The state of Royal Caribbean and its stock Long-term investors will probably like what they see in Royal Caribbean stock. The cruise line has capitalized on a revived demand for cruise vacations that appears unaffected by an uncertain economy. In the third quarter of 2025, it reported 112% occupancy in an industry that defines 100% occupancy as two passengers in every cabin. Consequently, it earned just over $3.5 billion in net income in the first nine months of 2025, a 51% year-over-year increase. These rising profits have allowed it to service and pay down its $21 billion debt load left over from the pandemic. The increased income has also helped Royal Caribbean build new ships. It launched the Star of the Seas in 2025 and plans three additional ships over the next three years to help it meet the strong demand for cruise vacations. Not surprisingly, such conditions have helped its stock outperform the S&P 500 over the last five years. Expand NYSE : RCL Royal Caribbean Cruises Today's Change ( 0.20 %) $ 0.56 Current Price $ 286.11 Key Data Points Market Cap $78B Day's Range $ 281.11 - $ 288.13 52wk Range $ 164.01 - $ 366.50 Volume 2.4M Avg Vol 2.4M Gross Margin 39.53 % Dividend Yield 1.22 % Investors may also like its valuation. Although its 18 P/E ratio is slightly higher than Carnival's at 16 times earnings or Norwegian Cruise Line Holdings' at a 14 P/E ratio, Royal Caribbean's earnings multiple is far lower than the S&P 500 av...
A mountain rescue team has appealed for two rescued walkers to pay a hotel bill they owe, return head torches they took and collect a hospital crutch one of them used to climb Scafell Pike in treacherous conditions. “We avoid judging those we rescue,” said Wasdale mountain rescue team in a statement. “But we struggle to understand when the rescued take advantage of hospitality provided by our supp...
A mountain rescue team has appealed for two rescued walkers to pay a hotel bill they owe, return head torches they took and collect a hospital crutch one of them used to climb Scafell Pike in treacherous conditions. “We avoid judging those we rescue,” said Wasdale mountain rescue team in a statement. “But we struggle to understand when the rescued take advantage of hospitality provided by our supporters in the valley.” The seven-hour rescue, it was revealed at the weekend, took place overnight on 29-30 December and was the team’s last rescue of 2025. The incident involved two young male walkers and was totally avoidable, the team said, with “treacherous winter conditions underfoot”. The walkers were located high on Scafell Pike, England’s highest mountain, and were safely transported “wet and hungry” to the bottom of the valley in the early hours. The team said the bar manager of the Wasdale Head Inn had offered to stay up late to provide the men with snacks and let them stay in a room with a 35% discount. More than three weeks later, the bill remained unpaid, the rescuers said. “Sadly there has been no payment to the hotel of the £130 outstanding room cost or thank you to Steve [the bar manager],” said the mountain rescue team. “Neither did the telephone number given to Steve work. We as a volunteer organisation are also missing the two head torches lent to them to get them safely off the mountain. “We also would like to return their hospital crutch left in our vehicle that one of them with a previous leg injury had used on the ascent.” According to rescuers, the pair had agreed to pay but said “their money was in their tent somewhere high on the fell near Green Gable”. They said that in the morning the walkers had asked the hotel for a further reduction, “pushed hard for a breakfast” and asked if transport could be arranged to get them out of the valley. The team said in its Facebook post that it felt obliged to pay the hotel bill, even though the Wasdale Head was...
He said Alphabet is likely “entering a cycle of improving AI Stack narrative and upward revisions that could create one of the highest quality top-line AI acceleration stories in the public universe.” Analyst Josh Beck said refreshed bottom-up work on Search and Google Cloud Platform (GCP) prompted him to raise 2026 and 2027 forecasts, with his 2027 revenue outlook now above broader Street expecta...
He said Alphabet is likely “entering a cycle of improving AI Stack narrative and upward revisions that could create one of the highest quality top-line AI acceleration stories in the public universe.” Analyst Josh Beck said refreshed bottom-up work on Search and Google Cloud Platform (GCP) prompted him to raise 2026 and 2027 forecasts, with his 2027 revenue outlook now above broader Street expectations. Earlier in the week, Raymond James upgraded Google owner Alphabet (NASDAQ:GOOGL) to Strong Buy, arguing the company is moving into a phase where its AI stack is “shifting to high gear,” setting the stage for meaningful upward revisions to medium-term estimates. While he acknowledges ongoing capacity constraints and elevated capital spending, Thill believes Microsoft is positioned to deliver “meaningful upside to both top and bottom line” through fiscal 2026. The analyst also highlighted accelerating AI monetization through Copilot and other first-party offerings. With Azure accounting for “30% of overall revenue,” sustained outperformance could lift overall revenue growth into the “high teens," he said. The company has beaten its Azure revenue guidance for three consecutive quarters, and Thill believes execution on new capacity alone “could likely drive upside to both F2Q… and FY26 Azure consensus” Azure remains a key upside driver. Thill describes Azure demand as “supply-constrained, not demand-constrained,” with Microsoft planning to double its data-center footprint over the next two years. The analyst argues that Microsoft’s record contractual commitments are the main reason to step in at current levels. He expects second-quarter remaining performance obligations to deliver “the largest sequential step-up ever,” driven by the OpenAI and Anthropic agreements. Thill noted that the stock has fallen 18% since the first fiscal quarter (F1Q), despite Microsoft’s disclosure of $250 billion in commitments to OpenAI and $30 billion tied to Anthropic. He adds that the curre...
Key Points Nebius’ revenue has taken off as customers flock to its AI services. To meet demand, Nebius must heavily invest now and in the coming years. 10 stocks we like better than Nebius Group › Nebius Group (NASDAQ: NBIS) has been a stock market darling over the past year, with the shares soaring more than 160%. This is because the company is delivering something artificial intelligence (AI) cu...
Key Points Nebius’ revenue has taken off as customers flock to its AI services. To meet demand, Nebius must heavily invest now and in the coming years. 10 stocks we like better than Nebius Group › Nebius Group (NASDAQ: NBIS) has been a stock market darling over the past year, with the shares soaring more than 160%. This is because the company is delivering something artificial intelligence (AI) customers want right now, and that's capacity for their workloads. And this has been driving explosive revenue growth. The AI market is booming, and analysts expect it to reach into the trillions of dollars by the end of the decade. This sounds like great news for Nebius. But it's important to look at the complete picture, which may not result in every AI stock soaring. After Nebius' enormous gain, could the stock possibly stumble -- and maybe even go to $0? Let's find out. 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 » Compute for AI workloads So, first, a quick note on the Nebius story up until this point. The company sells its customers access to compute for their AI workloads, and it also offers managed services. This has been popular with AI customers because it's helped them gain speed and keep their costs in check. It's often faster and cheaper to turn to a player like Nebius than to build out one's own infrastructure. As a result, Nebius has generated amazing growth, as we can see in the latest quarter when revenue surged more than 300%. At the same time, Nebius has attracted the business of market giants such as Microsoft and Meta Platforms. Both have signed billion-dollar deals for capacity with the company in recent months. All of this could result in significant growth for Nebius. But before you rush to get in on the stock, it's important to keep a couple of things in mind. In order to serve this great demand, Nebius must take on debt -- this always represents a risk -- and we ...
Key Points The broad-based S&P 500 is coming off its third consecutive year with a gain of at least 16%. A historic level of division within the Federal Open Market Committee (FOMC) appears to foreshadow trouble for the stock market. Furthermore, Jerome Powell's term as Fed chair is up in less than four months, yielding more questions than answers at this point. 10 stocks we like better than S&P 5...
Key Points The broad-based S&P 500 is coming off its third consecutive year with a gain of at least 16%. A historic level of division within the Federal Open Market Committee (FOMC) appears to foreshadow trouble for the stock market. Furthermore, Jerome Powell's term as Fed chair is up in less than four months, yielding more questions than answers at this point. 10 stocks we like better than S&P 500 Index › For the better part of the last three years, investors have had plenty to be thankful for. In 2025, the widely followed Dow Jones Industrial Average (DJINDICES: ^DJI), broad-based S&P 500 (SNPINDEX: ^GSPC), and growth stock-dependent Nasdaq Composite (NASDAQINDEX: ^IXIC) rallied by 13%, 16%, and 20%, respectively. This was a continuation of a three-year streak for the S&P 500 where it's delivered annual gains of at least 16%. Catalysts have been abundant, with the rise of artificial intelligence and the advent of quantum computing spurring innovation and promising to increase the long-term growth potential of many of Wall Street's most influential businesses. 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 » A resilient U.S. economy has also provided a boost to equities. Most S&P 500 companies are leapfrogging Wall Street's profit projections. To boot, President Donald Trump's Tax Cuts and Jobs Act, passed during his first term in the White House, has incentivized publicly traded companies to repurchase their own stock, which can have a positive impact on earnings per share. Furthermore, investors are excited about the prospect of additional interest rate cuts by the Federal Reserve in 2026. Lower interest rates can encourage businesses to borrow with the purpose of hiring more workers, acquiring other companies, and increasing capital devoted to research and development. While the Fed is often viewed as a stabilizing force for the stock market, it may represent Wall Street's und...
Palantir’s UK chief Louis Mosely says Britain’s military had complete operational control over its Palantir AI software - Rii Schroer A US tech firm handed a multimillion-pound contract with the British military has denied the deal puts national security at risk, amid fears that Donald Trump could pull the plug. Louis Mosley, the UK boss of Palantir, told The Telegraph there was no “kill switch” t...
Palantir’s UK chief Louis Mosely says Britain’s military had complete operational control over its Palantir AI software - Rii Schroer A US tech firm handed a multimillion-pound contract with the British military has denied the deal puts national security at risk, amid fears that Donald Trump could pull the plug. Louis Mosley, the UK boss of Palantir, told The Telegraph there was no “kill switch” the president could deploy if he was looking for a new way to pressure the UK. Mr Mosley said Britain’s military had complete operational control over its version of Palantir’s AI software, which was physically separated – or “air-gapped” – from the internet. “They [the UK military] can decide when and how they use it. And not only can no one else interfere with that, but no one else may even know that that’s what they’re doing with it,” he said. “There’s no kill switch. He [Mr Trump] can’t turn off the thing that the United Kingdom already has.” Palantir develops artificial intelligence software to analyse large amounts of data and last month won a £240m, three-year contract to provide critical intelligence capabilities to the UK Armed Forces. It follows an earlier £75m three-year contract in 2022. The US tech firm’s software will underpin live military operations, planning, tactics and strategy. However, the deal was criticised for potentially handing Mr Trump yet more leverage over the Starmer Government and British military decision-making. The risks involved were accentuated last week when Mr Trump threatened tariffs on Britain for standing in the way of his desire to own Greenland. Victoria Collins, the Liberal Democrats’ technology spokeswoman, has called on the Ministry of Defence to find British suppliers: “This is about our economy and our security,” she told the Politico website. The British Government is facing calls to ditch Palantir over concerns of potential threats from Donald Trump - Mandel Ngan/AFP via Getty Images Speaking to The Telegraph at the World Eco...
Torsten Asmus/iStock via Getty Images The Vanguard Small-Cap Growth Index Fund ETF Shares ( VBK ), launched on 01/26/2004 and managed by The Vanguard Group, Inc., provides exposure to stocks within the small-cap segment of the equity market with growth characteristics. It manages ~$39 billion and charges a 0.07% expense ratio. This fund is efficient as far as its approach is concerned because the ...
Torsten Asmus/iStock via Getty Images The Vanguard Small-Cap Growth Index Fund ETF Shares ( VBK ), launched on 01/26/2004 and managed by The Vanguard Group, Inc., provides exposure to stocks within the small-cap segment of the equity market with growth characteristics. It manages ~$39 billion and charges a 0.07% expense ratio. This fund is efficient as far as its approach is concerned because the methodology is fundamentally-driven and it has the lowest expense ratio among peers, making it an attractive vehicle for long-term exposure. However, the current risks do not warrant exposure to the market; it gives you access to. Methodology VBK tracks the CRSP US Small Cap Growth Index, which uses the analysts' estimates of long-term and short-term EPS growth rates, the investment/assets ratio, ROA, plus historical 3-year growth in earnings and sales. The index is market-cap-weighted, and the reconstitution/rebalancing happens every quarter. This is an interesting set of metrics because I usually encounter more simplistic approaches to defining growth, such as using value metrics like earnings yield and then selecting those stocks with the lowest values. Instead of assuming that the most overvalued stocks in a market segment would be the fastest-growing, CRSP does the actual work of finding those stocks that have growth traits. Another thing to note is that it's more fundamentally-driven. We have investment into the business and profitability taken into account on top of expected/historical growth, factors that are very important for growth potential. Momentum as a factor is missing, and yet it is common in growth funds. The index doesn't conflate growth potential and historical price movement into its growth definition. Portfolio As is usual with small-cap portfolios, the idiosyncratic risks are negligible here since the top 10 holdings account for just under 10% of the portfolio, and the top holding has only a weight of 1.44%. Though the top holdings are not significant...
Nvidia-backed AI start-ups OpenAI and Anthropic could hold IPOs in 2026. Nvidia (NVDA +1.53%) chips and systems are the foundation of the artificial intelligence (AI) boom. Its graphics processing units (GPUs) account for more than 80% of AI accelerator sales, and its full-stack strategy -- meaning it combines its GPUs with adjacent data center hardware and software tools -- gives the company a du...
Nvidia-backed AI start-ups OpenAI and Anthropic could hold IPOs in 2026. Nvidia (NVDA +1.53%) chips and systems are the foundation of the artificial intelligence (AI) boom. Its graphics processing units (GPUs) account for more than 80% of AI accelerator sales, and its full-stack strategy -- meaning it combines its GPUs with adjacent data center hardware and software tools -- gives the company a durable competitive advantage. At present, owning shares of Nvidia is one way (albeit an indirect method) for investors to get exposure to OpenAI and Anthropic. Both AI start-ups work closely with the chipmaker. In September, OpenAI announced plans to deploy at least 10 gigawatts of AI data centers with Nvidia systems. Nvidia also said it would invest $100 billion in the AI start-up. In November, Anthropic announced plans to purchase $30 billion of computing capacity from Microsoft Azure (running Nvidia AI systems) and to contract additional capacity up to 1 gigawatt. Nvidia also said it would invest $10 billion in the AI start-up. However, OpenAI and Anthropic could hold initial public offerings (IPOs) as early as this year, which means investors may soon get direct exposure. Here is why I think OpenAI is the more attractive potential IPO stock based on the latest valuations. 1. OpenAI OpenAI was founded by 11 people (including CEO Sam Altman) in 2015. The company was initially a nonprofit dedicated to artificial intelligence (AI) research, but it formed a for-profit subsidiary in 2019. OpenAI is best known for the generative AI application ChatGPT, powered by the GPT family of large language models. Developers can also integrate the models into custom applications. Importantly, OpenAI has developed other noteworthy products. GPT Image (the successor to Dall-E) is a generative AI tool that turns text prompts into images. Sora is a generative AI tool that turns text prompts into videos. And Whisper is a generative AI tool that transcribes and translates audio into text. OpenA...
Key Points Nvidia provides indirect exposure to OpenAI and Anthropic because it supplies infrastructure and has committed to large investments in both AI start-ups. OpenAI earned about $13 billion in revenue in 2025, so its current valuation of about $750 billion implies a price-to-sales ratio of 58. Anthropic earned about $4.5 billion in revenue in 2025, so its latest valuation of about $350 bill...
Key Points Nvidia provides indirect exposure to OpenAI and Anthropic because it supplies infrastructure and has committed to large investments in both AI start-ups. OpenAI earned about $13 billion in revenue in 2025, so its current valuation of about $750 billion implies a price-to-sales ratio of 58. Anthropic earned about $4.5 billion in revenue in 2025, so its latest valuation of about $350 billion implies a price-to-sales ratio of 78. 10 stocks we like better than Nvidia › Nvidia (NASDAQ: NVDA) chips and systems are the foundation of the artificial intelligence (AI) boom. Its graphics processing units (GPUs) account for more than 80% of AI accelerator sales, and its full-stack strategy -- meaning it combines its GPUs with adjacent data center hardware and software tools -- gives the company a durable competitive advantage. At present, owning shares of Nvidia is one way (albeit an indirect method) for investors to get exposure to OpenAI and Anthropic. Both AI start-ups work closely with the chipmaker. 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 » In September, OpenAI announced plans to deploy at least 10 gigawatts of AI data centers with Nvidia systems. Nvidia also said it would invest $100 billion in the AI start-up. In November, Anthropic announced plans to purchase $30 billion of computing capacity from Microsoft Azure (running Nvidia AI systems) and to contract additional capacity up to 1 gigawatt. Nvidia also said it would invest $10 billion in the AI start-up. However, OpenAI and Anthropic could hold initial public offerings (IPOs) as early as this year, which means investors may soon get direct exposure. Here is why I think OpenAI is the more attractive potential IPO stock based on the latest valuations. 1. OpenAI OpenAI was founded by 11 people (including CEO Sam Altman) in 2015. The company was initially a nonprofit dedicated to artificial intelligence (AI) research, ...
It's undeniably cheap. But is it a buy? It may be time for investors to have a fresh look at Peloton Interactive (PTON 0.17%) -- the connected-fitness company known for its studio-quality instructors that are streamed from its stationary bikes, treadmills, and rowing machines. The mere suggestion of reconsidering it may give some investors the shakes -- Peloton was once a market darling but has no...
It's undeniably cheap. But is it a buy? It may be time for investors to have a fresh look at Peloton Interactive (PTON 0.17%) -- the connected-fitness company known for its studio-quality instructors that are streamed from its stationary bikes, treadmills, and rowing machines. The mere suggestion of reconsidering it may give some investors the shakes -- Peloton was once a market darling but has now plunged 97% from its all-time high. Peloton's stock crashed because the business started burning cash at an alarming rate. The company's operations burned $2.7 billion cumulatively from the start of its fiscal 2021 through the end of its fiscal 2024 -- almost $700 million annually. During this time, there were layoffs, multiple CEOs, shrinking revenue, and co-founders leaving the company. However, Peloton has quietly stabilized and flipped the script. In the company's fiscal 2025, it generated free cash flow of $324 million. And for the fiscal first quarter of 2026 (which ended in September), it had free cash flow of $67 million. That's a Q1 margin of 12%, which is nothing to sneeze at. The end result is that Peloton stock is actually cheap. It trades at a paltry 6 times its trailing free cash flow, as the chart below shows. You'll be hard-pressed to find another business with a valuation this cheap. Peloton is profitable again, which is good news. And this bargain valuation is a good reason to revisit this investment. What Peloton needs to win for shareholders In most cases, businesses that fail to grow also fail to create shareholder value. Therefore, I believe Peloton would need to return to some growth for the stock to provide solid returns for investors. Expand NASDAQ : PTON Peloton Interactive Today's Change ( -0.17 %) $ -0.01 Current Price $ 5.80 Key Data Points Market Cap $2.4B Day's Range $ 5.70 - $ 5.89 52wk Range $ 4.63 - $ 10.25 Volume 8.6M Avg Vol 9.3M Gross Margin 49.14 % Peloton's revenue has consistently declined year over year for about four years now. Th...
Crypto investors expect big things from Bitcoin (CRYPTO: BTC) over the next couple of years. The largest cryptocurrency recently performed its fourth halving of mining rewards, just weeks after the Securities and Exchange Commission (SEC) approved 11 Bitcoin-owning exchange-traded funds (ETFs). Bitcoin prices are up by 124% over the last 52 weeks, and that bump is supposed to be the foothills of a...
Crypto investors expect big things from Bitcoin (CRYPTO: BTC) over the next couple of years. The largest cryptocurrency recently performed its fourth halving of mining rewards, just weeks after the Securities and Exchange Commission (SEC) approved 11 Bitcoin-owning exchange-traded funds (ETFs). Bitcoin prices are up by 124% over the last 52 weeks, and that bump is supposed to be the foothills of an upcoming mountain climb. But Solana (CRYPTO: SOL) makes Bitcoin's recent gains look downright disappointing. The smart contracts platform with high performance and low fees has gained a staggering 476% in the same period. Can Solana keep up this tremendous market momentum, or will the price trends look different in the next era? Should Bitcoin investors convert their digital assets into Solana coins instead? Let's take a look. How Solana differs from Bitcoin The Solana project wants to "bring blockchain to the people." The Solana blockchain platform can process smart contracts very quickly and with minimal processing fees. These qualities make it easy for app developers of every stripe to get into the Solana ecosystem and play around. Building a large developer community in this manner should lead up to plenty of useful and valuable projects over time. Solana wants to help ordinary people around the world take control of their finances, their online experiences, and their assets. It's already a popular platform for managing non-fungible tokens (NFTs), which can track the ownership of any digital or physical asset. Eventually, this philosophy could make Solana a crucial component of the Web3 and decentralized finance communities. This blockchain network was engineered for speed and efficiency, based on the founding group's background in building cell phone networks. This vision is very different from Bitcoin's role as a digital currency, focused on wealth management and value protection. Bitcoin builds value by offering limited access to an intentionally rare digital asset...