Key Points AI is a game-changing technology that PwC analysts believe can create $15.7 trillion in global economic value by 2030. Demand for Nvidia's and AMD's graphics processing units (GPUs) has been insatiable, leading to sales growth of 68% and 32% for their respective data center segments last year. However, shares of both companies plunged following their latest earnings reports, signaling that a much-needed reset of investors' AI expectations may be forthcoming. 10 stocks we like better than Nvidia › The advent and proliferation of the internet began altering corporate growth trajectories more than three decades ago. Since then, investors have been waiting (impatiently) for the next technological leap forward. While several other hyped trends followed in the footsteps of the internet, including nanotechnology, 3D printing, and blockchain technology, it's artificial intelligence (AI) that's truly stepped up. Analysts at PwC believe artificial intelligence can add $15.7 trillion to the global economy by 2030. If this estimate is even remotely close, it explains why shares of graphics processing unit (GPU) titans Nvidia(NASDAQ: NVDA) and Advanced Micro Devices(NASDAQ: AMD), commonly known as "AMD," have soared. Since the start of 2023, shares of Nvidia and AMD have climbed by 1,140% and 208%, respectively. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » But while the operating results of this dynamic duo validate investors' excitement, Wall Street's immediate reaction to their quarterly results is nothing short of a $711 billion warning that AI investors can't ignore. Nvidia and AMD have laid a solid foundation as GPU titans However, before digging into the details behind this warning, investors need to understand how Nvidia and AMD became two of the most consequential companies in the AI aren...

Vietnam’s prime minister left on Sunday for an official visit to Russia during which the two nations will sign several agreements, including on oil and gas cooperation, Hanoi said. Prime Minister Pham Minh Chinh’s trip to the major oil-producing nation from Sunday to Wednesday comes as Vietnam seeks to shore up its fuel reserves amid global supply disruptions due to the war in the Middle East. His visit will focus on deepening ties with Russia and expanding cooperation in trade, investment and energy, Vietnam’s government said in a statement on Sunday. Advertisement “During this visit, a series of important agreements related to nuclear power plant projects, as well as cooperation in energy and oil and gas will be signed,” another statement from Hanoi said on Saturday. “Cooperation in oil and gas energy will be reinforced in all fields of trade, exploration, extraction, and human resource training,” it added. Advertisement Since the US-Israel war against Iran began in late February, sparking fuel price hikes and fears of shortages around the world, the cost of 95-octane petrol and diesel in Vietnam, a manufacturing hub, has soared by 50 per cent and 70 per cent respectively.

The government’s top cost of living adviser has called on ministers to explore a temporary cap on the profits of energy and petrol companies to prevent them from cashing in excessively on the war in the Middle East. Richard Walker – a Labour peer, the chair of Iceland supermarkets and the prime minister’s “cost of living champion” – said he had asked the government to examine limiting how much businesses were able to benefit from higher energy prices after Iran’s blockade of the strait of Hormuz, a crucial shipping route for Europe’s oil and gas, and the wider conflict in the region. “I have asked the government to consider a temporary profit cap … to stop producers and retailers exploiting the crisis to make windfall profits at the expense of consumers,” Walker wrote in a column in the Sunday Times. “As executive chairman of a retailer, I have no problem with profit. It’s what allows businesses to invest, employ people and pay tax. But I do have a big problem with profiteering, especially when families are under real pressure.” His comments come after suggestions that the chancellor, Rachel Reeves, had been planning to ease the UK’s existing windfall tax – the energy profits levy – before the US and Israel attacked Iran on 28 February with airstrikes that killed Iran’s supreme leader, Ali Khamenei. They also come as Chris O’Shea, the chief executive of the British Gas owner, Centrica, said an increase in energy prices may be “inescapable” if the war in the Middle East “stays as it is”, although he predicted that petrol prices would be affected much more than energy bills. “The world uses about 100m barrels of oil a day. We’ve lost about 20% of that through the strait of Hormuz. The loss of gas through the strait of Hormuz being closed is about three or 4% of global gas,” he told the BBC’s Sunday with Laura Kuenssberg programme. “So the impact on gas, and therefore on electricity bills, should be lower than the impact on oil. So my gut feel is that you’ll see more o...

Key Points AI is a game-changing technology that PwC analysts believe can create $15.7 trillion in global economic value by 2030. Demand for Nvidia's and AMD's graphics processing units (GPUs) has been insatiable, leading to sales growth of 68% and 32% for their respective data center segments last year. However, shares of both companies plunged following their latest earnings reports, signaling that a much-needed reset of investors' AI expectations may be forthcoming. 10 stocks we like better than Nvidia › The advent and proliferation of the internet began altering corporate growth trajectories more than three decades ago. Since then, investors have been waiting (impatiently) for the next technological leap forward. While several other hyped trends followed in the footsteps of the internet, including nanotechnology, 3D printing, and blockchain technology, it's artificial intelligence (AI) that's truly stepped up. Analysts at PwC believe artificial intelligence can add $15.7 trillion to the global economy by 2030. If this estimate is even remotely close, it explains why shares of graphics processing unit (GPU) titans Nvidia (NASDAQ: NVDA) and Advanced Micro Devices (NASDAQ: AMD), commonly known as "AMD," have soared. Since the start of 2023, shares of Nvidia and AMD have climbed by 1,140% and 208%, respectively. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » But while the operating results of this dynamic duo validate investors' excitement, Wall Street's immediate reaction to their quarterly results is nothing short of a $711 billion warning that AI investors can't ignore. Nvidia and AMD have laid a solid foundation as GPU titans However, before digging into the details behind this warning, investors need to understand how Nvidia and AMD became two of the most consequential companies in the AI ar...

Although AMD's Instinct series GPUs haven't been able to keep up with Nvidia over a short sprint, its chips nevertheless remain highly valuable. They're less costly than Nvidia's hardware and may offer shorter wait times. First-mover advantage in the AI space isn't all about compute, and AMD can absolutely take advantage of this dynamic. To build on this point, it's unlikely that AMD or any overseas competitors will close the gap anytime soon. Nvidia CEO Jensen Huang is spearheading an aggressive innovation cycle that'll see a new advanced AI chip introduced annually. The Vera Rubin GPU will succeed Blackwell Ultra when it hits the market in the second half of 2026. Nvidia's GPUs have held a virtual monopoly in enterprise data center market share for years. Several generations of its GPUs, including Hopper, Blackwell, and Blackwell Ultra, have been superior to external competitors, including AMD, in terms of compute capabilities. Most of the hoopla surrounding these juggernauts stems from their GPUs. While both companies have other product lines, many of which are profitable/successful, investors' focus has been on growth in their respective GPUs -- i.e., the brains powering split-second decision-making, generative AI solutions, and large language model training in AI-accelerated data centers. However, before digging into the details behind this warning, investors need to understand how Nvidia and AMD became two of the most consequential companies in the AI arena. But while the operating results of this dynamic duo validate investors' excitement, Wall Street's immediate reaction to their quarterly results is nothing short of a $711 billion warning that AI investors can't ignore . Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Analysts at PwC believe artificial intelligence can add $15.7 trillion ...

beekeepx/iStock via Getty Images Shares of Arcosa ( ACA ) have seen quite a pullback in recent weeks, with shares having fallen from a high of $130 to $100 per share. This followed the release of the 2025 results, and certainly after the company provided the outlook for the current year. That news flow actually followed a substantial divestment announced just days before, enough of a reason to update coverage on the firm here. The company is divesting its inland barge business, a cyclical and capital-intensive business. While this is taking place at somewhat cheaper multiples, frankly, this looks fair. Amidst all these observations, I applaud the strategic transformation that the company made in recent years, which, combined with a lagging share price, leaves a highly-regarded business trading at reasonable multiples here. All this makes me rather upbeat here, willing to buy shares on dips, with shares down meaningfully from their recent peak. Other, higher conviction ideas, including secular growth plays in industrial segments, can be found at Value In Corporate Events . A Solid 2025 Arcosa reported its full-year results in February, with full year sales up 12% to $2.88 billion. The company is quite diversified, with nearly half of sales generated from construction materials and products. This is complemented by a large, near $1.2 billion engineered structures business, comprised of utility and wind towers, complemented by a near $400 million inland barges business. Operating profits of $342 million came in at 11.8% of sales, up a full four points from the year before. In between interest expenses and taxes, GAAP earnings improved in a huge way to $208 million, for earnings equal to $4.24 per share. Adjusted earnings came in at $4.47 per share, with the gap to GAAP earnings being both small and fair. Net debt is reported at $1.31 billion, for a 2.2 times leverage ratio based on adjusted EBITDA reported at $583 million. The 49 million shares of the company now trade...

Inside a rare lab that's blazing a bold trail as it hunts for new drugs toggle caption Tommy Trenchard for NPR Kelly Chibale says that the hunt for new drugs is kind of like a fairy-tale quest. And it takes a lot of time and patience. "It doesn't mean that there aren't surprises or miracles," he says. "They do happen, but you have to kiss many frogs before you meet the prince." The "prince" might just be a new medicine to treat malaria or tuberculosis. This search is what motivated Chibale to found the Holistic Drug Discovery and Development (H3D) Centre at the University of Cape Town in South Africa, where he currently serves as director. Sponsor Message The discovery of new medicines often takes place in North America, Europe and Asia. So that's where the agenda tends to be set for which diseases to treat and who benefits. But Chibale says H3D is a rare facility in Africa with everything needed to discover drugs for some of humanity's most intractable ailments. For the 61-year-old Zambian, it's a natural outgrowth of his love of chemistry. When he was a student and started visualizing molecules and puzzling through how to transform one into another, he knew that he had found his cerebral soulmate. Chibale grabs a chemistry book off the shelf in his office and riffles through a parade of molecules — each one like an old friend. "Calicheamicin, zaragozic acid, taxol, brevetoxin B even — all of them are here!," he exclaims. "It's a science, but it's also an art. And that's what really fascinates me about organic chemistry, and I fell in love. When you fall in love, you can't explain," he says with a laugh. That love affair is what led Chibale to found his center so he and his team can go, in his words, drug hunting. "When you go hunting, you are hungry," he says. Sponsor Message And he's confident that this unrelenting hunt and hunger will pay off before long. A return to Africa Chibale moved to the U.K. and U.S. for graduate school and to work as a researcher. That'...

As of last quarter, Tesla (TSLA 3.33%) controls more than half of the U.S. electric vehicle (EV) market. This is not unusual for the company. For years, Tesla has dominated the EV category in the U.S. What is unusual, however, is the competitive landscape moving forward. In some ways, Tesla will face more competition this year than ever before. But in other ways, the competitive landscape has improved considerably. There are two important factors to understand about Tesla's unusual competitive position in 2026. Expand NASDAQ : TSLA Tesla Today's Change ( -3.33 %) $ -12.67 Current Price $ 367.63 Key Data Points Market Cap $1.4T Day's Range $ 364.48 - $ 379.87 52wk Range $ 214.25 - $ 498.83 Volume 3.8M Avg Vol 61M Gross Margin 18.03 % 1. Tesla will get more competition for its biggest moneymaker in 2026 Tesla is the No. 1 EV brand in the U.S. by sales volumes. But it may not be for long. When you dig into Tesla's sales numbers, you'll find one curious fact: One model is responsible for the bulk of Tesla's annual car sales. Last year, for example, Tesla shipped 418,227 vehicles. Around 406,000 of those vehicles were either a Model 3 or Model Y -- Tesla's two affordable models. And yet, an even closer look reveals that more than 350,000 units of that figure included Model Y shipments alone. Put together, Tesla's Model Y accounts for more than 80% of Tesla's unit volumes in 2025. Tesla CEO Elon Musk revealed earlier this year that the company will soon discontinue production of its luxury Model S and Model X models, meaning that the Model Y will become an even more important revenue and profit driver for the company. But starting next month, the Model Y will face one of its biggest competitive threats in years: Rivian's (RIVN 7.44%) R2 SUV. Rivian's R2 won't be alone. Once shipments begin to scale, the company expects to start production on two additional Model Y competitors: Rivian's R3 and R3X SUVs. By this time next year, Rivian may have three SUVs all priced under $5...

Key Points Tesla faces increased competition for the Model Y. Some competitors, however, are pulling back. These 10 stocks could mint the next wave of millionaires › As of last quarter, Tesla (NASDAQ: TSLA) controls more than half of the U.S. electric vehicle (EV) market. This is not unusual for the company. For years, Tesla has dominated the EV category in the U.S. What is unusual, however, is the competitive landscape moving forward. In some ways, Tesla will face more competition this year than ever before. But in other ways, the competitive landscape has improved considerably. There are two important factors to understand about Tesla's unusual competitive position in 2026. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » 1. Tesla will get more competition for its biggest moneymaker in 2026 Tesla is the No. 1 EV brand in the U.S. by sales volumes. But it may not be for long. When you dig into Tesla's sales numbers, you'll find one curious fact: One model is responsible for the bulk of Tesla's annual car sales. Last year, for example, Tesla shipped 418,227 vehicles. Around 406,000 of those vehicles were either a Model 3 or Model Y -- Tesla's two affordable models. And yet, an even closer look reveals that more than 350,000 units of that figure included Model Y shipments alone. Put together, Tesla's Model Y accounts for more than 80% of Tesla's unit volumes in 2025. Tesla CEO Elon Musk revealed earlier this year that the company will soon discontinue production of its luxury Model S and Model X models, meaning that the Model Y will become an even more important revenue and profit driver for the company. But starting next month, the Model Y will face one of its biggest competitive threats in years: Rivian's (NASDAQ: RIVN) R2 SUV. Rivian's R2 won't be alone. Once shipments begin to scale, the company...

A shop selling hand-carved mahjong tiles will close for good next week after nearly half a century, marking the demise of one of Hong Kong’s few remaining traditional handicraft stores. Kung Yau Cheung Mahjong, founded 47 years ago, announced it would close on March 28. Owner and artisan carver Ko Yun-kan, who entered the trade aged 18, said the closure of the Mong Kok shop was not due to poor business but because the landlord had decided to take back the street-corner premises earlier this year. Advertisement Ko, now in his sixties, said the shop on Shanghai Street was his first job and had been his life’s work. He said he had tried to find a new location but could not secure a suitable site, and had decided to retire for now. Ko added that having devoted himself to the craft every day for years, he lost the work overnight and felt a deep sense of loss. Advertisement The shop was founded by his master, with Ko taking over in the 1990s. He said he grew up along with the business, witnessing both the evolution of Mong Kok and the decline of traditional craftsmanship.

3月22日，新海航旗下首都航空JD488航班搭载空客A330宽体客机，从斯里兰卡科伦坡飞抵北京大兴国际机场，随机搭载的陶装饰品卸货后运抵雄安完成海关核验，这标志着全国首个依托综合保税区叠加航空三字代码的不临空口岸——雄安国际空港正式投用。同时，本次航空货运启用雄安航空三字代码“NXA”，标志着雄安国际空港正式具备国际空运始发港与目的港功能。(上海证券报)

格隆汇3月22日｜美国财长贝森特称，美国总统特朗普会不惜一切代价在伊朗达成目标；有足够的钱来支持军事行动。

当地时间3月22日下午，以色列军队袭击了黎巴嫩南部利塔尼河上的卡斯米亚大桥。以军此前曾警告称将轰炸该桥以“阻止黎巴嫩真主党向黎巴嫩南部运送人员和武器”。以军近来多次袭击黎巴嫩南部桥梁。据近日在当地报道时遭以军袭击的俄媒记者表示，以军正试图将黎巴嫩南部与该国其他地区隔离开来，并在当地实施“种族清洗”。（CCTV国际时讯）

3 月 22 日，小阔集团携手华晨宇正式推出全新日化家居品牌「重点」，华晨宇出任品牌联合创始人。 此次华晨宇的加入并非传统的品牌代言，而是形成了深度的绑定。从股权结构来看，「重点」的运营主体为深圳华阔生物科技有限公司，其中小阔集团旗下子公司深圳星阔生物科技有限公司持股 70%，华晨宇控股的上海圣恒鸿音文化传播有限公司持股 20%，北京云上万家科技有限公司持股 10%。 在消费理念不断迭代的当下，日化行业早已脱离单纯的基础功能满足阶段，消费者对产品的成分、功效、使用体验乃至情绪价值都提出了更高要求，需求精细化、场景细分化、体验个性化成为行业显著趋势。正是洞察到这一市场变化，「重点」应运而生。 据悉，「重点」以“微观世界里的宏大关怀”为品牌理念，聚焦传统日化家居长期被忽略的微观需求，致力于为消费者提供细节、舒适、安全的日化家居解决方案。 作为小阔集团旗下全新品牌，「重点」的诞生并非无迹可寻，而是背靠集团十余年的日化产业。目前小阔集团已打造出口腔护理国货代表品牌「参半」、个护品牌「小箭头」，在产品研发、供应链整合、市场运营管理等方面形成了体系化能力，这些都为「重点」的发展提供了产品与市场根基。 参半创始人尹阔曾在公开采访中表示，参半的核心竞争力在于对消费需求的精准捕捉和快速的产品迭代能力，而这一能力或将成为小阔集团孵化新品牌的重要支撑，集团的多品牌布局并非简单的品类拓展，而是基于对不同消费赛道的洞察，满足消费者多元化、精细化的需求。 目前，「重点」已推出花露水、植物精油手环、植物精油贴、冰感紫草舒缓膏、护手霜、唇膏等多元品类新品，解决传统日化的“微痛点”。 例如，在使用场景上，“重点”针对传统花露水容量大、不便携带等痛点，在家庭装之外，推出小巧便携款；在原料选择上，“重点”产品甄选新疆软紫草、积雪草、油橄榄、龙胆根等多重天然植物成分。另外，「重点」在香氛上与奇华顿等全球知名香精香料公司合作，推出“柔嫩青苔与诗”“荒芜之地的太阳”“沉醉泥土与光”等多款富有层次的香调。 定价方面，根据“重点”天猫官方旗舰店显示，其单品价格多集中在19.9 元至59.9 元区间，与行业同类产品基本持平，主打亲民及大众普惠。 「重点」的核心布局逻辑，直指全球微观护理领域的标杆企业 ——小林制药，试图填补国内这一赛道的品牌空白。 小林制药并非传统制药企业，而是覆盖药品、个护、家居护理等多个板块，凭...

格隆汇3月22日｜据华尔街日报，伊朗任命新的情报部门代理负责人。

格隆汇3月22日｜据CCTV国际时讯，当地时间今天下午，以色列国防军袭击了黎巴嫩南部利塔尼河上的卡斯米亚大桥，此前数小时，以军曾发出警告，称将轰炸该桥以阻止黎巴嫩真主党向黎巴嫩南部运送人员和武器。以色列国防部长卡茨当天早些时候也表示，他和总理内塔尼亚胡已指示以军立即摧毁利塔尼河上所有用于“恐怖活动”的桥梁，以阻止真主党武装人员和武器向南运输。

Key Points Kintayl Capita sold 495,390 shares of Core Scientific in the fourth quarter; the estimated trade size was $8.64 million based on quarterly average prices. The quarter-end position value decreased by $9.14 million, reflecting both trading and stock price movements during the period. The post-transaction holding stood at 74,664 shares valued at $1.09 million. 10 stocks we like better than Core Scientific › On February 17, 2026, Kintayl Capital disclosed in a U.S. Securities and Exchange Commission (SEC) filing that it sold 495,390 shares of Core Scientific (NASDAQ:CORZ) during the fourth quarter, an estimated $8.64 million transaction based on average quarterly pricing. What happened According to an SEC filing dated February 17, 2026, Kintayl Capital reported selling 495,390 shares of Core Scientific during the fourth quarter of 2025. The estimated transaction value was $8.64 million, based on the mean closing price for the quarter. The fund ended the period holding 74,664 shares, with a quarter-end value of $1.09 million. The net position change, which factors in both trading and price drift, was a decrease of $9.14 million. What else to know The sale reduced the Core Scientific stake to 0.66% of Kintayl Capital LP’s reportable assets under management, down from 6.3% in the prior quarter. Top holdings after the filing: NYSE:WTRG: $14.43 million (8.7% of AUM) NYSE: SNV: $13.84 million (8.4% of AUM) NYSE: NSC: $10.56 million (6.3% of AUM) NASDAQ: QRVO: $10.50 million (6.3% of AUM) NYSEMKT: NGD: $9.90 million (6.0% of AUM) As of Friday, shares of Core Scientific were priced at $15.81, up 84% over the past year and well outperforming the S&P 500’s roughly 15% gain in the same period. Company overview Metric Value Price (as of market close 2/13/26) $17.84 Market capitalization $5 billion Revenue (TTM) $319.02 million Net income (TTM) ($288.62 million) Company snapshot Core Scientific, Inc. provides digital asset mining, blockchain infrastructure, and colocation...

财联社3月22日讯（记者 吴雨其） 随着上市公司2025年 年报 陆续披露，QFII等外资机构在A股的最新持仓路径也逐步清晰。 截至3月22日，目前共有41家上市公司出现在QFII重仓股名单中，对应77条持仓记录，涉及16家外资机构。从披露结果来看，本轮QFII持仓不少外资是在年报披露窗口首次进入上市公司前十大流通股东名单，部分主权财富基金、国际投行和大型资管机构仍在对原有仓位做结构性调整，加仓、减仓与新进并行。 从机构分布看，瑞士联合 银行 集团、巴克莱银行、摩根士丹利、高盛系、摩根大通等仍是活跃度较高的几类资金。其中，阿布达比投资局、科威特政府投资局、澳门金融管理局等主权类资金继续出现在 医药 、能源、装备制造类公司股东名单中，高盛、摩根士丹利、摩根大通、法国巴黎银行、美林 证券 国际等机构在 半导体 、硬件设备、电气设备、 汽车零部件 等方向频繁落子。 若从行业分布看，QFII本轮持仓主要集中于 医药生物 、半导体、硬件设备、 机械 、电气设备、 化工 等板块，制造业仍是外资公开持仓最主要的落点。多位业内人士认为，从目前已披露情况看，外资并未简单回到传统大盘蓝筹逻辑，而是更多围绕细分制造、医药和科技链条做针对性配置。 外资加减仓路径分化 先看加仓方向，阿布达比投资局继续加仓 宝丰能源 ，截至去年年末持股4481.28万股，较上期增加40万股，期末持仓市值达到8.80亿元，高盛国际加仓 沙河股份 113.70万股，加仓 *ST松发 45.90万股，The Goldman Sachs Group增持 盛屯矿业 132.63万股，摩根大通则加仓 浙江 黎明119.11万股。 昆药集团 也出现增持案例，科威特政府投资局持股590.68万股，较上期增加85.78万股。 减仓动作同样存在。阿布达比投资局对 铁建重工 小幅减仓，高盛国际减持 协创数据 162.75万股，澳门金融管理局减持昆药集团326.80万股。横店 影视 、 西大门 、*ST松发、 三超新材 等个股中，也可以看到瑞士联合银行集团、摩根士丹利等机构出现不同程度的减持。整体来看，外资在已披露持仓中在保留重点仓位的同时，对部分个股进行再平衡。 更多的是新进持有的动作。其中，瑞士联合银行集团新进 德明利 、 新诺威 、超声 电子 、 宝胜股份 、 汇通能源 、 众兴菌业 、 大为股份 等12家公司；摩根士丹利新进...

More Than 5,500 Residents Ordered To Evacuate In Hawaii Over Dodgy Dam Authored by T.J. Muscaro via The Epoch Times (emphasis ours), More than 5,500 people on Hawaii’s most populous island have been ordered to evacuate on March 20 as weather conditions continue to worsen and threaten the integrity of a 120-year-old dam. Map of the evacuation zone in response to the risk of a dam failure amid torrential rains on Oahu, Hawaii, on March 20, 2026. Screenshot/Hawaii Emergency Management Agency That island, Oahu, which is home to the capital, Honolulu, is forecast to face severe rains capable of bringing risks of flash flooding and landslides over the next several days . The National Weather Service predicted that Oahu could receive four to 10 inches of rain between March 20 and March 23. This comes after the island received more than 26 inches of rain between March 10 and March 16. The life-threatening inundation is affecting much of the archipelago. “Much of the state is already saturated with rain from last week’s storm, and this additional rain will bring a major risk of flash flooding and landslides,” Hawaii’s Emergency Management Agency stated on X, urging residents and visitors to sign up for local emergency alerts. 🚨Incredible images of the Spillway, Wahiawa Reservoir (Lake Wilson), upstream from the Wahiawa Dam in Hawaii. DAM/LEVEE FAILURE IN PROGRESS OR EXPECTED at WAHIAWA DAM. Potential life-threatening flooding of downstream areas. 📸Permission: Jacob Vandervelde pic.twitter.com/JymFmegErI — Live Storm Chasers (@LiveStormChaser) March 20, 2026 Honolulu Mayor Rick Blangiardi said in an afternoon press conference that dozens, if not hundreds, of homes had been damaged, but no official damage assessment had been completed by that point. Along with the thousands of evacuations, dozens of people have had to be airlifted to safety, and hundreds more were bused to different shelters. But this rain has brought an extra risk to towns along the island’s north shore, as H...

财联社3月22日讯（记者 封其娟） 还剩2个交易日，2025年度主动权益“亏损王”鑫元消费甄选，将大概率触发发起式产品合同终止情形并进入清算程序，结局已无太大悬念。 今年2月，鑫元消费甄选已发布公告暂停申购、定投及转换转入业务，3月以来也已两度发布清盘预警。公告指出，截至3月24日，这只发起式产品若规模仍低于2亿元，无需召开持有人大会，基金合同终止且不得延续。 截至去年年末，鑫元消费甄选A、C类份额的合并规模为0.39亿元，距离发起式2亿元的“生死线”还差1.61亿元。尽管去年四季度规模环比增超三成，但0.1亿元的绝对增量无力扭转大局。 自成立以来，该产品规模始终在低位徘徊，从未真正建立起可持续的运作基础。与此同时，作为初期主要持有人的机构资金正加速撤离，机构持有比例在2025年上半年骤降，彻底失去规模支撑。 实际上，该产品已陷入规模、业绩“双杀”困境，最新单位净值已跌至0.4559元。 规模先天不足之外，最终令这只消费主题基金陷入清盘危机的是：极致的行业押注与频繁转向、激进的换股节奏、基金经理频繁更迭导致投研体系断裂等多重因素共同作用的结果。 而放眼全市场，据choice数据，2023年成立的发起式产品（仅统计主代码）共计381只，其中335只产品于3月22日后成立。截至去年年末，合并规模已低于2亿元的产品共计82只，其中也不乏消费、新材料、高端制造等行业主题基金。 高频押注、行业轮跳的“赌徒式”操作 鑫元消费甄选成立于2023年3月24日，成立初期规模仅0.1亿元，运行3年规模也未见明显增长。另外，在2025年之前，鑫元消费甄选A的机构持有比例均在95%以上，但这一比例在2025年年中骤降至42.94%。 而资金撤离与业绩亏损直接相关。2025年四季报披露，鑫元消费甄选A、C类份额自成立以来分别亏损49.37%、49.97%，分别跑输基准46.02%、46.62%。游戏板块在去年四季度出现了较大回撤，该产品仍对部分游戏个股进行加仓，进一步提高了游戏行业的配置占比和集中度。 截至去年年末，鑫元消费甄选十大重仓股依次为：腾讯控股、恺英网络、世纪华通、巨人网络、完美世界、三七互娱、万辰集团、家联科技、吉比特、神州泰岳。据Choice统计，按照申万二级行业划分，这十大重仓股中，游戏股占据七席。 去年三季度末，该产品十大重仓股中，游戏股已占据一半席位。 实际上，该产品自成...

港足原定周四作客尼泊爾的友賽取消。 這場國際A級友賽，原定在加德滿都舉行。足總接獲尼泊爾足總通知，指當地政治緊張局勢持續升溫，主辦方有感相關安排未能如期進行，決定取消，就事件致歉。 足總表示諒解，尊重主辦方決定。港隊將留港繼續備戰亞洲盃外圍賽。

日本柏崎刈羽核電廠六號機組，發生故障多日後今日恢復發電。 該機組是東京電力公司自2011年3月福島核事故後，首個重啟的核電機組，一月重啟後，本月十二日因漏電警報響起，其後暫停發電並進行調查，發現連接發電機與地面的接地金屬零件，由於發電機振動導致金屬疲勞而破損。 東電完成更換有關零件後，機組周日恢復發電和輸電，預計下月啟動商業運作。

中国的进出口是在规则框架下进行的公平贸易，中方将坚定不移推进高水平对外开放。 中国发展高层论坛2026年年会3月22日在北京开幕。面对中东冲突持续升级、全球经济复苏乏力等复杂的外部环境，论坛释放出中国坚定不移推进高质量发展、扩大高水平对外开放的鲜明信号，为动荡变革的世界注入宝贵的确定性。 国务院总理李强在大会开幕式上发表主旨演讲时表示，中国致力于做世界经济的“确定性基石”和“稳定性港湾”，“十五五”规划纲要不仅是中国高质量发展的新蓝图，更蕴藏着世界共同发展的新机遇。中国将持续推动高质量发展、稳定经济增长，打造一流营商环境、落实外资国民待遇，与世界各国共享发展红利，共促全球产业链供应链稳定安全。 第一财经了解到，本届论坛汇聚了来自国际组织、世界500强跨国企业，以及全球工商界等100多位外方代表，彰显全球资本与市场主体持续看好中国、深耕中国的坚定信心。 地缘冲突加剧外部风险 中东冲突的持续发酵，正从多维度冲击全球经济秩序。 国际货币基金组织（IMF）第一副总裁丹·卡茨认为，中东地区冲突已成为全球经济新的重大风险来源，目前仍难以全面评估该冲突的全部影响。 世界银行运营常务副行长安娜·比耶德表示，当前中东局势的发展正引发燃料价格及化肥供给冲击，有可能会降低经济增速，影响就业，推高通胀，并且加剧粮食的不安全。 在此背景下，2026年政府工作报告与“十五五”规划纲要以科学规划明晰高质量发展路径，为自身高质量发展锚定航向。 中国人民银行行长潘功胜表示，中国需要保持合理的经济增速，但增长的质量和可持续性更加重要。政府工作报告将今年经济增长预期目标设定为4.5%～5%，为经济结构调整和高质量发展留出了更大空间。 潘功胜认为，“十五五”规划聚焦高质量发展，做强国内大循环，坚持内需主导。实施提振消费政策措施，完善收入分配制度，优化社会保障体系，扩大教育、医疗、养老等领域的投资和消费，促进居民消费率明显提高。大力发展服务业，促进服务业的改革创新和开放合作。中国将在全球制造大国基础上加快成为全球需求核心市场。 对于中国的发展规划，亚洲开发银行副行长斯科特·莫里斯认为，“十五五”规划将以人为核心的投资置于重要位置，面向家庭和个体的投入是宏观经济提振需求、增强经济韧性的关键路径。 卡茨也认为，中国在2025年和2026年采取更具扩张性的财政政策立场，并启动“反内卷”行动，以减少部分行业的过度投...

Key Points Social Security is operating with around 7,000 fewer employees. Much work is being handled via AI and automation. Humans will still be on hand to handle some cases, though. The $23,760 Social Security bonus most retirees completely overlook › Almost all of us will have our lives enhanced by Social Security. Our grandparents and parents have collected benefits -- or will -- and we ourselves are also likely current or future beneficiaries. More than 50 million retirees are collecting Social Security benefits currently, with close to 70 million people total collecting some kind of benefit. (Social Security also provides for many disabled workers, surviving spouses, and dependents of some beneficiaries.) So it's kind of important to keep up with any changes in the program, and 2026 is bringing some significant changes. A key one is how the customer service provided by Social Security is changing. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » The old system For decades, Social Security has offered Americans the opportunity to take care of Social Security business (such as signing up, making changes, correcting mistakes, etc.) at local field offices. Indeed, in the past, there have been as many as 1,200-plus field offices across the nation, making it very likely that anyone wishing to visit one could do so. What's changing Social Security's customer service is shifting from field offices to a centralized national system. According to a report from the Social Security Administration (SSA), the program had nearly 58,000 full-time-equivalent workers in fiscal 2024, and the 2026 budget calls for 50,278 -- a drop of 7,720. Much of that drop is due to major layoffs enacted by the Department of Government Efficiency, or DOGE. The new system is likely to be employing artificial intelligence (AI) to...

Madmaxer/iStock via Getty Images As we were approaching year-end 2025, I issued a bullish thesis on Plains All American Pipeline ( PAA ), suggesting that the realized price gains (which were notable since my previous piece ) had not killed the overall case. In other words, I remained bullish despite richer valuation multiples or smaller discounts relative to some of its closest peers, such as Enterprise Product Partners ( EPD ), MPLX ( MPLX ), and Energy Transfer ( ET ). My key driver for the thesis was that the market should eventually recognize the durability of PAA's cash flow and dividend amid the increased volatility in the market and the great rotation. Plus, I thought that PAA's decision to become a pure-play crude oil franchise should ultimately enhance the value, mainly because of a stronger tilt towards a fee-based (predictable) business model. I have to be honest, while I was expecting continued price gains, I did not expect to see 20%+ returns in the space of just one quarter: YCharts It is clear that the overall MLP sector ( AMLP ) has greatly appreciated, but PAA stands out here as a clear leader (especially if we compare it to the largest quality MLP names). Now, for some, including myself, this might raise the question of whether the thesis has already been exhausted, and perhaps it might be worth it to take at least part of these gains home. After seeing what PAA delivered in the Q4 2025 report and considering the prevailing macroeconomic backdrop, I have to say that the case has become even stronger here (despite the higher EV/EBITDA multiple ). Let me explain. Thesis review I will first start with the key messages and data points from the Q4 report, as this will provide a decent basis for the overall picture/play. In Q4, the core segment for PAA, which is the crude oil segment, experienced an uptick of 3% in the EBITDA generation compared to the previous quarter. The key driver was the 2-month effect from the Cactus III acquisition. Higher tariff ...

Tom Werner/DigitalVision via Getty Images With the graying of the Western world, one would think that Healthcare stocks would have been getting a lift from the market, but the sector barely broke even over the past trading year. Of course, there are winners and losers within the Healthcare sector, such as Medical Distribution, which rose 33%, Medical Care Facilities, which were up 25%; and Biotech, which rose 21.4%. FVZ We last covered the BlackRock Health Science Term Trust ( BMEZ ) in a January 2025 article . At that point, we advised waiting for a deeper discount than 12%, as BMEZ's "NAV/share discount has run as deep as 17.14% over the past year." Fund Profile BMEZ's investment objective is to provide total return and income through a combination of current income, current gains, and long-term capital appreciation. Under normal market conditions, the Trust will invest at least 80% of its total assets in equity securities of companies principally engaged in the health sciences group of industries and equity derivatives with exposure to the health sciences group of industries. The Trust formerly utilized an option writing (selling) strategy in an effort to generate current gains from options premiums and to enhance the Trust’s risk-adjusted returns. However, the options strategy was cancelled in Q4 '25. BMEZ has a 12-year limited term, subject to extension, with a contingent feature to convert to a perpetual fund. BMEZ has also traditionally invested in the healthcare sector by blending "next generation" healthcare stocks and private investments. (BMEZ site) BMEZ ranks in the top 40 largest market cap equity CEFs, with 283K in average volume, and 179 holdings, as of 2/28/26. Its gross expense ratio is 1.45%. Hidden Dividend Stocks Plus Holdings Large caps form the majority of the portfolio, at ~64%, as of 2/28/26, with mid caps at 15.7%, and small caps at 18.5%. BMEZ Pharma, Biotech & Life Sciences formed ~80% of the holdings, as of 2/28/26, with Healthcare Equipm...

Animals on Frontier Airlines aircraft tails at Denver International Airport mtcurado/iStock Unreleased via Getty Images A number of U.S. airlines, including Frontier Airlines ( ULCC ), participated in the JPMorgan Industrials conference and provided long-expected guidance updates. Because of the Iran war, there has been a great deal of uncertainty about how much airlines would be impacted as a result of much higher fuel prices and potential demand destruction. ULCC’s guidance update and industry commentary at the conference briefly slowed the decline of airline stocks but cannot reverse the slide in airline stocks since the war began. ULCC stock is down 37% over the past 30 days Frontier Airlines revised 1Q2026 guidance (flyfrontier.com) Strong Demand – At Least In The Near Term The good news in ULCC’s guidance update is that demand remains strong, especially over the next couple of months. The latest Middle East conflict began right in the midst of the busy Spring Break travel period, which traditionally sees peak leisure demand from President’s Day in the U.S. to post-Easter and Passover, both of which are in early April this year. A number of airlines said that they have experienced “best ever” sales days since the first of the year, but those comments need to be viewed with a certain degree of skepticism, including for Frontier Airlines. US airline capacity change 2Q2026 (Airlines for America) The sheer timing of the beginning of the Iran war in the midst of a high-demand travel period and in the midst of the peak summer international booking period very likely meant that some consumers chose to purchase tickets for trips that they were considering but realized prices were not going to go down but likely would go up. In addition, a number of carriers in the industry, including ULCC, were already planning to add significant amounts of capacity, with ULCC being near the upper end of the industry at a planned 11% increase in 2 nd quarter capacity. Fares have been s...

海南将推进与粤港澳大湾区全方位联动融合。 体制政策、基础设施、产业发展的互联互通，是海南自由贸易港与粤港澳大湾区强化港湾合作的重点。 3月22日，由海南自由贸易港研究院、南方出版传媒主办的2026年港湾合作交流会在海口举行。海南省委常委、宣传部部长王斌在会上指出，琼粤港澳四地陆海相依、人缘相亲，区位优势互补、战略定位协同，开展联动融合发展，既是落实国家战略部署的必然要求，更是双方抢抓发展机遇、实现互利共赢的最佳选择。 强化港湾合作的必要性正在被看到。中国入世首席谈判代表、博鳌亚洲论坛原秘书长龙永图认为，港湾合作是加快建设海南自由贸易港的战略支撑。加强海南自由贸易港和粤港澳大湾区联动发展，不仅有利于全国经济的整体发展，有利于粤港澳大湾区建设，更对海南自由贸易港建设具有重大作用。 新加坡前外交部部长、新加坡国立大学李光耀公共政策学院访问学者杨荣文认为，海南自由贸易在中国未来发展中处于重要一环。若能发挥与东盟海上相连的独特优势，加强与东盟经贸合作并超越现有中国-东盟经贸合作水平，这不仅将形成对粤港澳大湾区的重要吸引力，也将促进自身战略地位的提升。 会议期间，与会嘉宾就琼粤港澳四地未来如何进一步加强合作展开讨论。全国政协委员、辽宁省政协原主席夏德仁认为，港湾联动重点体现在体制政策、基础设施、产业发展上的互联互动。 对外经济贸易大学党委副书记、校长赵忠秀认为，海南自由贸易港应当以破解制度性壁垒为突破，以满足企业需求为导向，务实推进琼港在规则、规制、标准、管理等制度层面的深度合作。 中国经济体制改革研究会原会长彭森建议，“十五五”时期强化港湾发展的协同交流，促进要素在城乡、区域、产业之间的自由流动，坚持市场化配置，实现效益最优化和效率最大化，为推动高质量发展注入强劲动力，为建设现代化经济体系打下坚实制度基础。 中国（海南）改革发展研究院院长、海南自由贸易港研究院院长迟福林则认为，以战略协同为导向、以产业融合为重点、以政策融合为突破口。在产业融合方面，要以促进资源、制造与服务深度融合为重点构建港湾产业链供应链。为此，建议打造“海南政策、资源+广东制造+港澳服务”等港湾产业链供应链；以实施精简的港湾跨境服务贸易负面清单为重点破解产业优势叠加的制度性壁垒；以实施“单一通行证”为重点共建港湾金融大市场。 据王斌介绍，近年来港湾合作走深走实，港资在琼投资稳步增长，2025年实际使用港资1...

Xesai/iStock via Getty Images Hopes for a strong start to the year in the U.S. economy are fading as rising gas prices erode the impact of larger tax refunds, the Associated Press reported Sunday. A surge in refunds tied to recent tax cuts was expected to give consumers extra spending power this spring. But since the outbreak of war with Iran in late February, fuel prices have jumped sharply, with the national average nearing $4 a gallon. Economists now say much of that refund-driven boost may be canceled out. Higher energy costs are likely to linger even if tensions ease, as supply disruptions take time to resolve. That means more household income will go toward fuel instead of discretionary purchases like dining, travel or retail. Lower- and middle-income households are expected to feel the most strain, since they spend a larger share of their income on gas while receiving smaller refunds. Some forecasts suggest gas prices could climb further before easing later in the year. In that scenario, the average household’s additional fuel costs would nearly match the increase in their tax refund, effectively wiping out the benefit. Other estimates point to a similar outcome at the national level, with higher fuel spending outweighing the total boost from refunds. The timing is particularly challenging for consumers. Job growth has slowed, savings have declined and more households are relying on credit to maintain spending. Analysts warn that this could deepen existing economic divides, with lower-income groups bearing a disproportionate burden. While consumer spending has remained resilient so far, there are signs of strain. Gasoline purchases have jumped, while growth in discretionary spending has been steady but not accelerating. Most economists still expect the U.S. economy to expand this year, though at a slower pace. However, the anticipated lift from tax refunds now appears far weaker, as higher fuel costs absorb much of the potential gain, the AP reported. Dear Re...