财联社3月18日讯（编辑 李响） 中东地缘冲突持续发酵，霍尔木兹海峡通航风险加剧，全球原油、黄金市场上演“过山车”行情，国内商品期权市场也迎来历史性交易热潮。 财联社查询上海国际能源交易中心和上海期货交易所相关数据，截至3月18日收盘，原油期权、黄金期权单日成交分别为122347手和88210手，维持在相对高位。原油期权当月日均成交量为2月份的3倍，黄金关键行权价整体明显上移，市场对期权高位价格区间的接受度正在提升。 在业内人士看来，本轮商品期权市场的历史性交易热潮，本质是地缘冲突加剧下市场波动率大幅抬升、避险对冲需求集中释放的结果，而期权工具自身独特的产品属性，也成为资金扎堆涌入的核心原因。 成交热度持续走高，原油、黄金期权市场多空博弈加剧 所谓期权，是指买方向卖方支付权利金后拥有在未来一段时间内(如美式期权)或未来某一特定日期(如欧式期权)以履约价格向卖方购买或出售一定数量的特定标的物的权力，但不负有必须买进或卖出的义务。 与场内期货市场相比，场外期权交易合约为客户“量身定做”，合约标的、数量、组合报价等方面比场内期货灵活多变，能以小额资金撬动较大收益，在当前市场行情大幅波动下被不少投资者广泛关注。 财联社梳理3月以来的日均成交数据发现，随着中东地缘冲突持续发酵，以原油期权为代表的场外市场热度高涨，并于3月13日达到阶段性顶峰。上海国际能源交易中心数据显示，当日原油期权全部期权系列合约共成交611043手，较前一日51万手再增20%，不过持仓量大幅减少73962手至42178手。 “彼时原油期货在经历10日和11日两日暴跌后强势反弹，也催生原油期权波动率持续冲高，至今仍无明显回落迹象”，有业内人士指出。 中信期货金融研究部高级研究员金月婷对财联社表示，原油期权近期受地缘冲突影响成交量出现明显增加，本月日均成交量约是上月日均成交量的3倍，持仓量同样出现增量，但程度不及成交量，不排除市场交易仍以趋势等短线交易为主。从期权市场多空力量来看，分布呈现明显分化，其中多档位虚值认沽期权仍存在较大持仓，反映市场存在明显的下方对冲需求。 另一个受地缘事件驱动巨幅波动的黄金期权方面，上期所数据显示，截至3月18日，3月黄金期权日均成交量达9.37万手，较2月春节后一周日均增长近195%。3月18日黄金期权全部期权系列合约成交81574手环比有所减少，但持仓量增加了3235手至10...

美国2月批发通胀环比意外加速，反映出商品和服务成本上升。 美国劳工统计局周三公布的数据显示，2月生产者价格指数（PPI）环比上升0.7%，前一个月涨幅为0.5%。剔除食品和能源后的核心批发通胀指标环比上升0.5%。 最终需求PPI（环比） +0.7% +0.3%； 剔除食品和能源的PPI（环比） +0.5% +0.3%； 最终需求PPI（同比） +3.4% +3.0%； 剔除食品和能源的PPI（同比） +3.9% +3.7%； 此前公布的数据显示，美国2月核心消费者通胀较前月放缓。但这些数据尚未反映伊朗战争的影响。这场冲突已推高能源价格，并开始打击消费者信心。 责任编辑：何云

“授权与分配任务”的区别 在现代组织管理中，“授权”是一个高频出现，但却常常被误解的概念。很多管理者将“分配任务”等同于“授权”，认为只要将工作交给下属，就是完成了“授权”的过程。但事实上，“授权”与“分配任务”有着本质的区别，这种区别不仅体现在字面含义上，更贯穿于管理实践的全过程，深刻影响着工作效率、员工成长以及组织的长远发展。 要厘清两者的边界，我们首先从词汇的本源入手：“授权”对应的英文是“Delegation”，“分配任务”对应的英文是“Assignment”，这两个词汇的差异，正是理解管理行为本质的关键切入点。 在《剑桥词典》相关的词条解释中，关于“Delegation”，其中所包含的一项核心意思就是：将特定的工作、职责、权利等等，委派给他人的行为。从这一定义中，我们可以看出，“Delegation”的核心在于“委派”，而这种委派不仅包含了工作任务的传递，更隐含着职责与权利的转移，这与“Assignment”所代表的“分配任务”有着明显的不同。 “Assignment”更侧重于“分配”，即管理者将具体的工作任务指派给下属，强调的是“做什么”，无需涉及权力的让渡和职责的转移；而“Delegation”则更侧重于“委派”，强调的是“让谁做、怎么做”，并且伴随着一定程度的权利赋予和职责承担，这也是两者最本质的区别。 “授权”的五个不同级别 为了更清晰地理解“Delegation”的层次与内涵，商业教练迈克尔·海亚特（Michael Hyatt）在他的著作《Free to Focus专注》这本书中，提出了五个不同级别的“Delegation”框架，这一框架系统地展现了“委派”行为从基础到高阶的演进过程，也帮助我们进一步区分了“分配任务”、“授权”与“赋权”的边界。结合管理实践的实际情况，我们稍稍调整了相关的表述，五个级别具体如下： 第一个级别、严格遵循指示：由委派者提供详细的指示，并要求他人精确地遵循和执行 在这一级别中，委派者需要明确告知被委派者“做什么、怎么做、做到什么标准、在什么时间完成”，甚至会细化到每一个操作步骤和注意事项。被委派者的核心职责就是“照章办事”，无需进行自主思考，也无需做出任何决策，只需要按照委派者的指示完成具体动作即可。 例如，管理者让下属打印一份文件，明确告知打印的份数、纸张规格、打印颜色以及提交时间，下属只需严格按照这些指示执行，无需...

Lululemon第四季度业绩超出预期，但鉴于关税逆风和代理权之争，发布的2026年销售额和每股收益指引弱于预期，美洲同店销售疲软，而国际增长仍是亮点。 责任编辑：张俊 SF065

3月18日消息，一则“男二以下AI演员”的热搜同时登上微博热搜第一和文娱榜热搜第一，引发关注。 文娱榜热搜第一。 具体来看这条热搜的内容。 有网友发微博表示：“ 制片人朋友们刚刚聊天说的严峻形式：平台今年严格严格严格限制新开项目，鼓励各制片人用Al做剧。以及，平台今年为止已经开了好几次会，鼓励制片公司用AI做后期。几部大剧的预算压得非常低，制片公司利润已经非常微薄。而且平台正在大量裁员。 ” “2月份就知道的项目，但一直八字没一撇就没提。” 他还说到，“ 以后男二以下的演员都不需要真人了，就用Al做。 ” 该消息一出，很快冲上热搜。 对于AI短剧，于正还发微博表态，“现在很多YXH在贩卖焦虑，说什么AI能取代演员，降本增效，这或许是一时的潮流，但真人的表演和人类对于同类的幻想和需要绝对不是AI能够完全取代的。” 不过，他并不否认AI所带来的积极一面。于正表示自己也在做AI剧，“ 就像我此刻，依然觉得自己是市场的稀缺资源，也坚信AI带给影视剧的只有好处没有坏处，只不过它可以淘汰一部分没有才华的人而己，让子弹再飞一会儿，安住安住，人生依旧坦途。” 春江水暖鸭先知。 新腕儿就此事联系了业内几家演员经纪公司，有公司表示没有影响，自己家的演员在正常接戏，而另一家演员经纪公司相关负责人表示，相对于去年同期，今年的短剧项目确实少了很多。 近段时间，关于AI是否替代真人短剧的话题，成了业内从业者最关心的事，这关乎整个短剧行业从业者们接下来一年内生存发展。 截至目前，结合市场各方的声音来看，真人短剧并不会被完全取缔。 前几日，某头部短剧公司告诉新腕儿，“最近公司计划扩大产能，增加项目。”另外，某知名短剧公司制片人也表示，“目前，我负责的S+项目并没有减少。” 这番积极的言论背后，其实需要深层次思考冰山的另一面。 既然，精品项目在稳步运作，那么被替代的是什么？ 在与上述演员经纪公司交流时，对方表示，虽然目前头部演员接戏情况和片酬水平没有太大影响，但腰部演员片酬已经下降三分之一。 换言之，整个市场对高质量作品要求越来越高的同时，对不够顶尖的选手，已没有太多耐心了。 新腕儿跟某头部互联网大厂相关负责人交流过真人短剧与AI短剧是否相互替代的问题。他们早已开放漫剧政策了，不过仍然很看好短剧：“我对真人短剧市场还是比较看好的，只是之前短剧行业的创作思维得变。之前他们的创作思路是从商业化体系里摸索...

Biomerica ( BMRA ) said on Wednesday that it had received its first commercial order for the Hp Detect H. pylori test from a major European lab chain. The initial order had been for the UK market following MHRA clearance in Feb. 2026 The company had seen the deal as a key step in expanding commercialization across Europe Order had been expected to support further distribution partnerships in U.S. and EU markets Shares +4.00%. More on Biomerica Financial information for Biomerica

达美航空和美国航空因需求强劲上调了第一季度营收指引，并表示强劲的预订量以及高端/常旅客计划的积极势头正在抵消燃油成本上涨的影响。 责任编辑：张俊 SF065

导语： 如果只看名字，很多人至今仍以为蕉内和蕉下是兄弟品牌，甚至是一个公司的两个子品牌。 它们确实有很多表面共性： 几乎同期崛起，都以“科技面料”起家，都靠“防晒”品类破圈，甚至连名字都带着南方植物的清新气息 。但若深入肌理，这两家公司从基因到路径，早已走向了完全相反的方向。 一个是“苹果派”的产品信徒，从内衣颠覆开始，用体感科学重新定义基本款；一个是“小米系”的赛道鲸吞者，以防晒伞为据点，用轻量化户外破圈人群 。2025年，功能性服饰市场规模突破6400亿元，当行业红利持续释放，这两家“蕉”姓品牌却给出了截然不同的解题思路。 一个向左，一个向右。这不是简单的路线之争，而是中国消费品牌在存量时代的两种生存哲学。 01.从“同名”到“同名不同命” 蕉下和蕉内，始于同名，却终于不同命。 把时间拨回2013年。那一年， 两位理工科背景的年轻人马龙和林泽在杭州创立了蕉下 ，凭借一把双层小黑伞切入市场。这把伞巧妙地解决了女性消费者的痛点：既能遮阳防晒，又因其精致的设计成为穿搭单品。 此后十年，蕉下一路从伞具拓展到防晒服、帽子、口罩，直至2022年正式提出 “轻量化户外” 理念，试图覆盖从城市街道到山野丛林的每一寸空间。 三年后， 设计师出身的臧崇羽和李泽辰在深圳创立了蕉内 。他们的切入点更“向内”——那枚缝在衣服后领处、总是扎得人坐立不安的标签。 2016年，蕉内推出首款无标签内裤，用印烫工艺取代物理缝制，解决了这个存在近百年的小困扰 。 此后，蕉内的产品逻辑始终围绕 “体感科学” 展开，从内衣到袜子，从家居服到保暖衣，看似什么都做，但万变不离其宗：用科技重新设计基本款。 到了2025年，两条路径的分野愈发清晰。 蕉下开始频繁出现在登山口、露营地、音乐节，先后签约周杰伦、杨幂等顶流代言，将品牌主张定为“天地间，肩并肩”，并联合艾瑞咨询发布《轻量化户外行业白皮书》，试图从定义者的身份抢占用户心智。 据世研指数数据，防晒服饰赛道迎来爆发式增长， 蕉下凭借UPF100+原纱防晒技术与冰丝凉感科技，在高端市场占据主导地位，市场份额一度超过50%。 而蕉内则在另一条赛道上悄然深耕。2025年，蕉内与一饼创意在抖音上展开一系列“卖点可视化实验”： 用热成像镜头呈现“热皮”的保暖分布，用泼水实验展示速干T恤的透气性，甚至用AI生成场景让模特置身云端，只为让用户“看见”体感 。近期，蕉内与赛...

亚利桑那州总检察长指控预测市场平台Kalshi运营非法赌博并接受选举投注，此举升级了关于事件合约是否属CFTC管辖范围的州与联邦冲突；Kalshi对此指控提出异议。 责任编辑：张俊 SF065

Commvault ( CVLT ) on Wednesday said it has expanded its data and AI security capabilities within its Commvault Cloud platform following its acquisition of Satori. The update extends data discovery, classification, and risk assessment to structured data environments, while introducing real-time access governance for structured databases, including those used in AI applications. The company said the enhancements aim to improve visibility into sensitive data, detect policy violations, and help organizations prioritize risk remediation. New features include AI-driven data classification and tools to monitor and control access to structured data to reduce risks such as data leakage. Real-time data access governance capabilities are available immediately, while structured data discovery and classification features are expected to reach general availability in late summer 2026. CVLT +0.71% premarket to $80.7. Source: Press Release More on CommVault Systems Commvault Systems Continues Transition Against Headwinds (Downgrade) Commvault Systems, Inc. (CVLT) Q3 2026 Earnings Call Transcript Commvault Systems, Inc. 2026 Q3 - Results - Earnings Call Presentation CommVault Systems Non-GAAP EPS of $1.17 beats by $0.19, revenue of $313.83M beats by $14.74M CommVault Systems Q3 2026 Earnings Preview

Source: Bloomberg, 0:00

Nebius集团将出售37.5亿美元、2031/2033年到期的可转换票据，此前该公司与Meta和英伟达达成了290亿美元的AI算力交易。此举导致股价下跌，因募集资金将用于数据中心和芯片。 责任编辑：张俊 SF065

Oil hasn’t fully priced in the supply shock of the US-Israeli war on Iran, said Carlyle Group Inc.’s Jeff Currie , who described the global energy market’s current upheaval as the “mirror image of Covid.” “You look at the paper markets, they’ve entirely disconnected from the physical markets,” the investment firm’s chief strategy officer told Bloomberg Television on Wednesday. “You can’t print molecules.” Brent crude, the global benchmark, was trading around $106 dollars per barrel on Wednesday and has rallied almost 50% since the start of the war in Iran last month. The conflict, which has seen traffic through the critical shipping route the Strait of Hormuz come to a near-halt, has sent energy prices soaring, triggered fuel shortages in Asia and spawned concerns about faster global inflation. Even still, Brent and West Texas Intermediate , the US benchmark, aren’t fully digesting the magnitude of the supply hit, he said. “We’re dealing with an enormous supply shock,” he said. “The supply shock is almost equal to the demand shock during Covid, and we know what that did to global supply chains.” Once inventories are exhausted you have to bring demand down in line with supply, he said. “To do that you’re going to need prices far higher than way they are now.” In the first days after the war began, Currie and Admiral James Stavridis said in a note that the war was set to be protracted . US President Donald Trump maintains that the war will only take a matter of weeks. Currie didn’t give predictions about what it will take for demand to come down in order to rebalance the market, but again flicked at early 2020 when China shut down at the start of Covid. “You can’t hit the global economy with a shock of that magnitude and not expect bad things to happen. And we have the exact mirror image” of a similar size shock now, he said. “Get long, buckle your seatbelt and hang on for the ride,” he advised.

Just_Super/iStock via Getty Images There are three main talking points today. The first is the war. While it continues to rage, more oil is reportedly moving through the Strait of Hormuz and pipelines that bypass the choke point entirely. President Trump is again holding out the possibility that the war ends shortly. Second, Japanese Prime Minister Takaichi is in Washington today. To be a fly on the wall as she explains how the US-imposed constitution hamstrings its ability to commit escort ships, despite her and her predecessor seeking to liberalize the understanding of the restraints on the use of force. Third is the Bank of Canada and the Federal Reserve meetings. Neither central bank will change policy. The Federal Reserve will update its economic projections. Amid a wide dispersion of views, the median dot was for one rate cut this year. In the fog of war, there cannot be much confidence in the economic projections, but it is possible the median dot pushes out the cut into next year. Weak economic data before the war may temper the Bank of Canada’s recognition of a potential inflation shock. The US dollar is mostly a little firmer against the G10 currencies. Turnover is quiet. Stocks and bonds are rising. May WTI is recovering from a three-day low near $91.50 today and is back above $94 ahead of the start of the North American session. Prices G10 • The euro traded firmly yesterday. The three-day high was seen in North America near $1.1550. This allowed it to recoup about half of what it lost since last week’s high (~$1.1665). The euro is trading quietly but firmly today. It is mostly trading between $1.1520 and $1.1550. The next retracement is about $1.1570. But ahead of the FOMC meeting later that concludes today, the short-term market may look for euro upticks to sell after a two-day 1.3-cent bounce. • The dollar recorded a four-day low today against the Japanese yen, near JPY158.55 today, slipping through yesterday’s low, slightly above JPY158.70. The JPY158...

In Pakistan ’s southwestern mountains, pickup trucks loaded with plastic cans of fuel smuggled from Iran line dusty roads as youngsters unload the containers, fill smaller cans and strap them onto motorbikes to supply nearby markets. The illicit trade has long thrived in the region but is feeling the knock-on effects of the war which has engulfed the Middle East following US-Israeli strikes on Iran Supplies coming across the 900km (560-mile) border between Pakistan and Iran have dropped by nearly half and driven up prices. Advertisement “Before the war, the rate was good,” Hakeem Ullah, a 35-year-old driver, said. “We used to get petrol for 150 rupees (54 US cents) per litre. But now, after the war, we are getting petrol for 190 rupees.” Vendors transport jerrycans filled with smuggled Iranian petrol on their motorcycles in Balochistan province. Photo: AFP Ullah is one of dozens of young men in the border towns of Balochistan province who transport fuel across the frontier every day in blue Iranian-made Zamyad trucks.

过去做跨境生意，有一条几乎人人默认的规则： 货能顺利进出，比什么都重要。 至于是谁在清关、谁在申报、谁在交税？并不重要。 于是，一整套高效的分工体系慢慢流传下来：有人负责卖货，有人负责送货，也有人负责清关、申报、缴税，各司其职。 这套体系跑了很多年，也养活了一大批人。 但现在，这套体系 距离“退场”还有两天 。 美国海关与边境保护局（CBP）拟于3月20日启动新一轮 进口商身份核查 ， 并注销不符合规范的“记录进口商”（IOR）编号 ，所有新提交的申报单将面临史上最严格的审核标准。 换句话说，货是谁的，谁就得站出来。 交易、申报、担责，每一个环节都得一一对应，否则就要承担扣货、退运、罚款的后果。 从只要货能到，到身份必须真、责任必须清，美区跨境生意正在 告别“蒙混过关”的时代 。 好用但不太“干净”的双清包税 在跨境电商的发展初期，市场上大多以中小卖家为主：卖点小家电、3C配件、化妆品等等。 生意不大、人手不足，资金也紧张，这些卖家对海外关税政策、清关流程、各类申报自然也并不熟悉。卖家自己摸索下来，既费时又费力， 对全链路托管式服务的诉求也愈发强烈 。 跨境物流商洞察到了这一需求，顺水推舟推出了 “双清包税” 服务。 卖家只需要把货物交给货代，剩下的出口清关、目的国清关、缴税、派送，全部由对方“打包处理”。对卖家来说，只需要付一个总价，不用自己处理报关和交税， 省心、省力，成本还可控 。对货代而言，靠规模化运输、清关可以降低成本，也能赚到稳定利润。 双方都能有钱赚，“双清包税”服务久而久之便成为了美区跨境物流的主流模式。 因此，“双清包税”是整个跨境电商行业“趋利避害”的无奈产物，既解决了卖家的问题，也养活了许多跨境货代， 是跨境市场需求所催生、市场环境重压下的产物 。 但高效分工、市场需求使然，并不能掩盖“双清包税”仍是 “灰色空间” 的性质。 一方面，“双清包税”的核心是 对“进口商身份”的弱化甚至隐藏 。 IOR，即法律上对进口货物承担全部责任的主体，而IOR编号就是进口商在美国海关系统里的“身份证”。 谁以IOR身份申报进口，谁就需要对信息真实性、税费缴纳及合规责任负全责。 在完整清关流程里，IOR编号需与进口商主体、EIN税号、授权关系一一对应。IOR编号的有效性，将直接决定货物清关与放行是否顺畅，甚至影响后续的跨境贸易结算。 但在“双清包税”的操作中，进...

由于伊朗战争推高油价，美联储在2026年降息的前景变得黯淡，期货定价目前指向长期维持利率不变，甚至出现加息讨论；抵押贷款利率略有上升，劳动力数据正在软化。 责任编辑：张俊 SF065

解放軍驅離兩架非法侵闖黃岩島領空的菲律賓飛機。 解放軍南部戰區表示，菲律賓兩架C-208型飛機周三未經中國政府批准，非法侵闖中國黃岩島領空。 南部戰區組織海空兵力，依法依規警告驅離，指菲方行為嚴重侵犯中國主權，極易引發誤解誤判，正告菲方立即停止侵權挑釁，稱戰區部隊時刻保持高度戒備，堅決捍衛國家主權、安全和地區和平穩定。

Kevin Dietsch U.S. President Donald Trump again took to his social media platform to press Federal Reserve Chair Jerome Powell on interest rates. Markets, though, are not buying the idea of a near-term rate reduction. "When is “Too Late” Powell lowering INTEREST RATES?," Trump wrote in a post on Truth Social. Rate futures and recent Wall Street projections now point to the first cut no earlier than fall, after Powell's term as Fed chair ends in mid-May. Notably, the o dds of a quarter-point hike are higher than the odds of a cut over the next three months, as market participants continued to digest a murkier, stagflationary outlook as the ongoing Middle East conflict jolted energy markets. Powell could still remain on the Fed's Board of Governors, where his term runs until January 2028, though the window for a rate cut on his watch as chair is rapidly closing. The next meeting in April will be Powell's last as chair. He is also fighting a Justice Department probe tied to his Senate testimony on cost overruns in the Fed's headquarters renovation, although a federal judge has blocked related subpoenas for now and the DOJ is appealing. Meanwhile, the Fed is widely expected to leave its benchmark lending rate unchanged again at 3.50%-3.75% when the Federal Open Market Committee announces the decision Wednesday. But there will be plenty to pay attention to in the policy statement , the Summary of Economic Projections, and Chair Jerome Powell’s press conference. All of this comes in the face of the biggest oil shock since the pandemic. Treasury ETFs: ( TLT ), ( TLH ), ( IEF ), ( IEI ), ( SHY ), ( SGOV ), ( SCHO ), and ( BIL ). Dear readers: We recognize that politics often intersects with the financial news of the day, so we invite you to click here to join the separate political discussion. More on the Markets The S&P 500 Is Becoming A Terrible Investment For Long-Term Investors Prudent Investors Should Be Game Planning For Stagflation This Week's Dichotomy/Bifocals Need...

2025 Net Loss of $5,025,000 ($1.51 loss per share) vs. Net Loss of $646,000 ($0.19 loss per share) in 2024 2025 EBITDA, As Adjusted, was a loss of $3,971,000 ($1.19 loss per share) vs. earnings of $159,000 ($0.05 per diluted share) in 2024 Fourth Quarter 2025 Net Loss of $708,000 ($0.21 loss per share) vs. Net Loss of $252,000 ($0.08 loss per share) in Prior Year Period Fourth Quarter 2025 EBITDA, As Adjusted, was a loss of $465,000 ($0.14 loss per share) vs. earnings of $383,000 ($0.11 per diluted share) in Prior Year Period Backlog at December 31, 2025 was approximately $12.2 million compared to approximately $12.0 million at December 31, 2024 HAUPPAUGE, N.Y., March 18, 2026 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTCID Basic Market:ORBT) today announced results for the fourth quarter and the year ended December 31, 2025. Fourth Quarter 2025 vs. Fourth Quarter 2024 Net sales were $6,726,000, as compared to $8,708,000. Gross margin was 28.6%, as compared to 34.6%. Net loss was $708,000 ($0.21 loss per share), as compared to net loss of $252,000 ($0.08 loss per share). Earnings before interest, taxes, depreciation and amortization, fair value adjustment on contingent liabilities (earn-out) and other non-current liability, contingent liability (legal matter) and stock-based compensation (EBITDA, as adjusted) was a loss of $465,000 ($0.14 loss per share), as compared to earnings of 383,000 ($0.11 per diluted share). Full Year 2025 vs. Full Year 2024 Net sales were $22,450,000, as compared to $29,898,000. Gross margin was 25.6%, as compared to 33.3%. Net loss was $5,025,000 ($1.51 loss per share), as compared to a net loss of $646,000 ($0.19 loss per share). Earnings before interest, taxes, depreciation and amortization, fair value adjustment on contingent liabilities (earn-out) and other non-current liability, contingent liability (legal matter) and stock-based compensation (EBITDA, as adjusted) was a loss of $3,971,000 ($1.19 loss per share), as compared to ea...

Iran Intel Chief Killed As Israel Grants IDF 'Free Hand' To Eliminate Leaders; Trump Muses Tehran Could Be 'Finished Off' Summary: Israel says Iran's intelligence chief Esmail Khatib was eliminated overnight as pace of top leadership killings accelerates. Israeli attack on Iran's major South Pars gas field could trigger retaliation on Saudi oil fields. President Trump issues posts musing whether US should 'finish off' Iran , though Tehran signals continuity & stability of govt. Iran FM says no change in nuclear posture : vows Tehran not pursuing an atomic bomb. * * * Iran Intel Chief Killed In 3rd High-Level Hit More decimation of Iranian top leadership, as Israel's defense minister Israel Katz has announced Iran's intelligence chief Esmail Khatib was eliminated in an overnight strike , which marks yet another alleged high-level hit as the tempo of targeted killings accelerates. "On this day, significant surprises are expected across all arenas that will escalate the war we are conducting against Iran and Hezbollah in Lebanon," Katz warned in a military briefing, according to Israeli media. If confirmed, the reported hit would mark the third top-tier Iranian figure eliminated in just 48 hours , following Israeli strikes that reportedly killed national security chief Ali Larijani, who was likely effectively running the war, and Basij commander Gholamreza Soleimani. Iran's intelligence chief Esmail Khatib Trump Posts: Finish Them President Donald Trump posts Wednesday: I wonder what would happen if we “finished off” what’s left of the Iranian Terror State, and let the Countries that use it, we don’t, be responsible for the so called “Straight?” That would get some of our non-responsive “Allies” in gear, and fast! Trump also said in a rapid follow-up that "We are rapidly putting them out of business!" Still, Iran is signaling continuity, not collapse, even as newspapers in America run celebratory headlines such as "Israel Is Hunting Down Iranian Regime Members in Their...

Whenever recession fears begin to circulate, investors naturally look for businesses that can hold up in a deteriorating economy. Retail, historically, hasn't been one of them. Consumer spending tends to weaken during downturns, and many retailers feel the pressure quickly. Yet Costco Wholesale (COST 0.56%) has long stood out as an exception. The warehouse giant has built a reputation for stability, loyal customers, and steady growth even when economic conditions become uncertain. So the question many investors ask is simple: Is Costco actually recession-proof? The short answer is that no business is completely immune to economic cycles. But Costco's business model does include several features that make it unusually resilient compared with most retailers. The membership model provides a stabilizing foundation The first reason Costco tends to perform well during economic slowdowns is its membership-based model. Customers pay an annual fee to shop in Costco warehouses, and that fee income has grown into a significant revenue stream. In its fiscal 2025, which ended Aug. 31, membership revenue surpassed $5 billion annually And because the cost of maintaining memberships is relatively low, much of that revenue flows directly to profit. Equally important is the consistency of that income. Renewal rates remain extremely high, typically around 90% globally and even higher in the United States and Canada. That stability creates a recurring revenue base that traditional retailers simply don't have. Even during economic downturns, product sales may fluctuate, but the membership base usually remains intact. That recurring income provides a cushion that helps smooth earnings across economic cycles. In many ways, Costco behaves more like a subscription-driven business than a traditional retailer. Expand NASDAQ : COST Costco Wholesale Today's Change ( -0.56 %) $ -5.62 Current Price $ 996.12 Key Data Points Market Cap $442B Day's Range $ 994.79 - $ 1008.40 52wk Range $ 844.06 - $ ...

文章提及标的 原油 -- 美原油 -- WTI原油站上96美元/桶，日内涨0.58%。

This article first appeared on GuruFocus. Nvidia (NVDA, Financials) is positioning a new artificial intelligence platform, OpenClaw, as a major evolution in how users interact with AI, according to Chief Executive Jensen Huang. Huang spoke at the company's GTC event and said that OpenClaw is a top open-source initiative that can go beyond regular chatbots. OpenClaw is different from systems that only answer queries since it lets AI agents function on their own, make decisions, and follow workflows with little help from users. Nvidia produced NemoClaw, a version for businesses that includes the company's software tools and adds features for security, privacy, and scalability to help people embrace it. The platform is meant to enable companies use AI agents in the real world. Huang claimed that the technology is moving toward "agentic" AI, which means that people may make their own agents that can do complicated tasks on their own. He talked about how these technologies may make businesses more productive as they get better. But the growth of autonomous AI also makes people worried about control, safety, and data security. Nvidia claimed that part of their plan is to implement protections that would allow for responsible large-scale use. The next thing that will drive growth is businesses using AI agent platforms and Nvidia's software ecosystem getting better.

In three of the cases police found videos taken of the women at the time. He is accused of filming them without consent, and the condition of the women at the time of the four alleged rapes has become a significant element of the trial.

盛龙股份（001257）公告，经发行人与保荐人(主承销商)协商确定，本次发行新股数量为2.15亿股，全部为公开发行新股，不安排老股转让。本次公开发行后公司总股本18.36亿股，本次公开发行股份数量占公司本次公开发行后总股本的比例约为11.71%。本次发行价格7.82元/股对应的发行人2024年扣除非经常性损益前后孰低的归母净利润的摊薄后静态市盈率为19.11倍，低于中证指数有限公司发布的同行业最近一个月平均静态市盈率39.85倍和同行业可比上市公司扣除非经常性损益前后孰低的归母净利润的平均静态市盈率27.4倍，但仍存在未来发行人股价下跌给投资者带来损失的风险。

聯博集團維持百濟神州(ONC.US)買入評級，維持目標價412美元 富途牛牛

This article first appeared on GuruFocus. Microsoft (NASDAQ:MSFT) may be inching toward a showdown with Amazon (NASDAQ:AMZN) and OpenAI, as a reported $50B deal starts to test the boundaries of its long-standing cloud partnership with the ChatGPT maker. At the center of this is OpenAI's new Frontier platform, which focuses on deploying AI agents inside enterprise environments. The issue is simple but high stakes. Microsoft's agreement with OpenAI is believed to require that its models run through Azure, but Amazon Web Services is now stepping in as part of this new arrangement. According to reports, Microsoft is not taking that lightly, with one source suggesting the company is prepared to pursue legal action if the contract is breached. For now, this has not turned into a full blown dispute. The companies are still in discussions, and OpenAI appears to believe its Amazon deal fits within the existing agreement. At the same time, Amazon has been steadily deepening its relationship with OpenAI through a multibillion dollar investment and broader cloud collaboration. What this really shows is how quickly the AI landscape is shifting. OpenAI is no longer tied as tightly to one cloud, and the biggest tech players are now competing more directly for that demand. For investors, that adds a new layer of uncertainty around one of AI's most important partnerships. The next step depends on whether this stays behind closed doors or spills into a legal fight.

In a bid to further boost its thriving energy storage business, Tesla TSLA is collaborating with South Korea’s LG Energy Solution to buy $4.3 billion worth of lithium iron phosphate (LFP) battery cells. These cells will be manufactured in the Lansing, MI, factory, starting in 2027. The facility was originally part of a joint venture between General Motors GM and LG Energy. However, as General Motors scaled back EV investments amid slower-than-expected adoption, it exited the project, allowing LG Energy to repurpose the plant for new customers like Tesla. The rationale behind Tesla’s deal with LG Energy is to secure a domestic battery supply and reduce reliance on China. Tesla’s energy storage business is increasingly exposed to tariffs on imported batteries. Without a local supply of LFP cells, the company would either have to absorb higher costs or pass them on to customers, both of which could hurt growth. The partnership ensures American-made LFP cells will power Tesla’s Megapack 3 systems. By locking in domestic supply, Tesla is directly addressing a key bottleneck — battery availability — while improving cost visibility. If executed well, this could make its energy segment an even more compelling part of its long-term growth story. But does this deal make Tesla stock worth buying right now? Let’s take a closer look. TSLA’s Energy Storage: The Real Growth Story Tesla’s energy generation and storage business is emerging as a major growth engine, driven by strong demand for Megapack and Powerwall systems. Over the past three years, energy storage deployments have grown at a remarkable 168% CAGR. This momentum comes as electricity demand surges, particularly from data centers and AI infrastructure. In 2025, Tesla reported record deployments of 46.7 GWh, up 49% year over year. Growth is expected to continue with the rollout of Megapack 3 and the new Megablock solution, both set to be produced at Tesla’s Houston Megafactory. To support this expansion, Tesla has been ...

In a bid to further boost its thriving energy storage business, Tesla TSLA is collaborating with South Korea’s LG Energy Solution to buy $4.3 billion worth of lithium iron phosphate (LFP) battery cells. These cells will be manufactured in the Lansing, MI, factory, starting in 2027. The facility was originally part of a joint venture between General Motors GM and LG Energy. However, as General Motors scaled back EV investments amid slower-than-expected adoption, it exited the project, allowing LG Energy to repurpose the plant for new customers like Tesla. The rationale behind Tesla’s deal with LG Energy is to secure a domestic battery supply and reduce reliance on China. Tesla’s energy storage business is increasingly exposed to tariffs on imported batteries. Without a local supply of LFP cells, the company would either have to absorb higher costs or pass them on to customers, both of which could hurt growth. The partnership ensures American-made LFP cells will power Tesla’s Megapack 3 systems. By locking in domestic supply, Tesla is directly addressing a key bottleneck — battery availability — while improving cost visibility. If executed well, this could make its energy segment an even more compelling part of its long-term growth story. But does this deal make Tesla stock worth buying right now? Let’s take a closer look. TSLA’s Energy Storage: The Real Growth Story Tesla’s energy generation and storage business is emerging as a major growth engine, driven by strong demand for Megapack and Powerwall systems. Over the past three years, energy storage deployments have grown at a remarkable 168% CAGR. This momentum comes as electricity demand surges, particularly from data centers and AI infrastructure. In 2025, Tesla reported record deployments of 46.7 GWh, up 49% year over year. Growth is expected to continue with the rollout of Megapack 3 and the new Megablock solution, both set to be produced at Tesla’s Houston Megafactory. To support this expansion, Tesla has been ...