The Japanese government expects its interest payments on outstanding debt to roughly double over the next four years as the Bank of Japan’s gradual rate hikes push up borrowing costs. Interest payments are projected at ¥21.6 trillion ($139 billion) in the year starting April 2029, up from the current year’s budgeted ¥10.5 trillion, according to a Finance Ministry document released Thursday. The projections assume annual nominal economic growth of 3%. Overall debt-servicing costs are seen rising about 46% to ¥41.3 trillion during the same period. That would account for about 30% of total projected spending of ¥139.7 trillion in fiscal 2029, topping expected outlays for social security. The latest projections highlight growing financial strain as the BOJ stays on its tightening path and the potential for growth faces structural limitations. In an interview with the Yomiuri this week, Governor Kazuo Ueda reiterated his intention to keep raising rates in line with improvements in the economy and prices. A hawkish member of the BOJ’s board expanded on that sentiment Thursday. Markets largely expect the central bank to stand pat in March before increasing the benchmark rate as soon as April, even as two reflationists are set to join the policy board in coming months. As it drafted the budget for next fiscal year, the MOF set the accumulated interest rate, a benchmark used to calculate debt servicing costs, at 3%. The ministry expects the provisional rate to reach 3.2% in fiscal 2027, then 3.4% and 3.6% in the following years. Tax revenue is forecast to rise each year, exceeding ¥95 trillion in the final year of the projection period. Even before taking higher rates into account Japan’s finances are stretched, with spending pressures building across social security, defense and other areas. The initial budget for the year starting in April hit a record of ¥122 trillion. Prime Minister Sanae Takaichi ’s government is seeking to pass the budget through parliament by the end ...

Earnings Call Insights: Chime Financial, Inc. (CHYM) Q4 2025 Management View CEO Christopher Britt highlighted a year of "31% revenue growth with strong operating leverage, including a 12-point year-over-year improvement in adjusted EBITDA margin to 10% in fourth quarter." He reported that Chime added approximately 500,000 net new active members in Q4, bringing the total to 9.5 million, and completed a multiyear migration to ChimeCore, their proprietary tech stack, which "strengthens our cost advantage with a cost to serve of roughly 1/3 of large banks and 1/5 of regional banks." Britt outlined the successful launch and adoption of new products including Chime Card and MyPay, with Chime Card adoption resulting in "credit spend as a percent of overall purchase volume increasing to 21% in December, up from 16% in September." MyPay scaled to over $400 million in revenue run rate in Q4 with transaction margin of nearly 60%, and loss rates reaching the steady-state target of 1%. The company introduced Chime Workplace, entered the enterprise channel with MyPay at Work, and closed the year at over $40 billion in annualized origination volume across SpotMe, MyPay, and Instant Loans. Britt previewed 2026 priorities: launching a premium membership tier for higher-earning members, expanding the product suite to include joint, teen, and custodial accounts, and launching investing capabilities. He also emphasized accelerating enterprise channel momentum and embedding AI deeper into Chime's operations and member experience, including testing the next-generation financial AI copilot, Jade. CFO Matthew Newcomb stated, "We grew revenue by 25% year-over-year and transaction profit by 31% year-over-year in Q4, compounding growth even as we fully lapped 2024's launch of MyPay." He added, "In Q4, we increased transaction margin to 72%, up from 69% in Q3, a result of delivering on 2 critical strategic priorities that we committed to as part of our IPO last summer, completing our ChimeCor...

Japan’s reliance on China for rare earths increased last month, despite a reduction in volumes purchased from the world’s dominant producer. China supplied around 76% of the rare earths imported by Japan in January, according to data compiled by Bloomberg from Japanese customs figures. This was 3.4 percentage points more than the proportion for the same month a year earlier, as imports from other nations fell. In volume terms, however, Japan purchased 1,127 tons of metal equivalent from China last month – 5.7% less than in January 2025. The discrepancy can be explained by the fact that total Japanese imports declined by nearly 10% year-on-year to around 1,478 tons. Rare earths are essential raw materials in powerful magnets that are ubiquitous across modern manufacturing, from electric vehicles to mobile phones and missile systems. Importers such as Japan and the US are working to cut their reliance on China, whose dominance of the global supply chain gave Beijing crucial leverage in last year’s trade war with Washington. More recently, China banned exports to Japan of dual-use products with possible military applications – a category that includes rare earths. Read More: Japan Seeks Support as Fears Rise Over China’s Rare Earth Grip “It’s too early to assess the actual impact of the political tensions,” said Tadanori Sasaki, a senior research director at the Institute of Energy Economics, Japan, adding that at least three months of data would be required to make a fair interpretation. “Japan’s rare-earth import volumes are not smooth or evenly distributed, and show noticeable month-to-month fluctuation,” he said. “This is because the metal applications are limited, and even under normal conditions, the volumes tend to vary significantly.” While Tokyo is stepping up efforts to diversify supplies, imports from other nations remain relatively small in comparison to those from China. Vietnam was the second-largest supplier in January, shipping around 221 tons of metal ...

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Earnings Call Insights: IonQ (IONQ) Q4 2025 Management View Niccolo de Masi, President, CEO & Chairman, stated that 2025 was "a highly successful and transformational year for IonQ, both strategically and financially." He highlighted the company's expansion from quantum computing leadership to becoming "the world's leading quantum platform solution and merchant supplier." De Masi emphasized the company's ability to deliver integrated quantum solutions across computing, networking, sensing, and security, powered by "an unmatched intellectual engine" and a strong IP portfolio. De Masi announced the largest acquisition in quantum history, an agreement to acquire SkyWater, positioning IonQ to "accelerate manufacturability of IonQ's entire Quantum platform roadmap." He noted that with SkyWater, IonQ will become "the largest quantum merchant supplier in the world," and the acquisition will help ensure U.S. quantum manufacturing scaling. He reported that IonQ delivered "nearly as much revenue in Q3 2025 as in all of 2024," with Q4 2025 revenue growing "more than 50% quarter-over-quarter." Full year 2025 revenue was "over 3x that of 2024." Singh, CFO & COO, stated, "IonQ ended 2025 with an exceptional fourth quarter following a record-setting third quarter. Fourth quarter revenues were $61.9 million, even exceeding our own expectations and growing 429% year-over-year." Singh added, "We are projecting revenues of between $225 million to $245 million for full year [2026] and $48 million to $51 million for the first quarter." Singh confirmed the company's focus on R&D with "R&D comprised $96.1 million in Q4. And for the year, it was $305.7 million. That's 123% annual increase." Management highlighted the appointment of Katie Arrington as CIO and General John Raymond to the Board, as well as other additions to strengthen government and commercial relations. Outlook Singh projected "revenues of between $225 million to $245 million for full year [2026] and $48 million to $51 mill...

Rolls‑Royce在去年盈利增长后，推出规模最高约120亿美元的多年期股票回购计划，以提升股东回报，并上调了2028年业绩目标。 这家英国发动机制造商周四表示，其稳健的资产负债表使其能够在2026—2028年启动规模70亿至90亿英镑（94.9亿—122亿美元）的股票回购计划，其中25亿英镑的股份回购将于今年完成。 这是Rolls-Royce在沉寂十年无任何回购后，连续第二年宣布回购计划。去年，该公司已回购10亿英镑股份。 Rolls-Royce预计，2026年全年核心营业利润将达到40亿至42亿英镑。 该公司称，2028年核心营业利润预计将介于49亿至52亿英镑之间，高于此前预估的36亿至39亿英镑。 公司同时宣布派发每股5.0便士的股息，使得2025年全年股息总计达到每股9.5便士。 Rolls-Royce公布，2025年核心营业利润为34.6亿英镑，高于上年的24.6亿英镑。2025年核心营收升至200.6亿英镑，而2024年为178.5亿英镑。 责任编辑：何云

格隆汇2月26日｜有投资者在互动平台向航宇科技提问：目前国产大飞机C919搭载的是进口发动机LEAP-1C。请问贵公司有向LEAP-1C供应零部件吗？具体有哪些产品？航宇科技回复称，公司为LEAP-1C的供应商，为其高低压涡轮，燃烧室等关键部位提供环形锻件。公司将持续深耕航空发动机产业链，积极服务国产大飞机事业。

花旗的分析师们在评估各基金发布的展望报告后表示，全球大型资产管理公司（管理超过20万亿美元的资产）正在买入新兴市场股票、本币债券和信贷产品

泰福泵业发布业绩快报，2025年度营业总收入9.36亿元，同比增长25.88%。净利润1756.31万元，同比增长38.78%。报告期内，公司实现营业总收入9.36亿元，同比增幅25.88%，归属于上市公司股东的净利润1756.31万元，同比增幅38.78%；扣除非经常性损益后的归属于上市公司股东的净利润为998.74万元，同比增幅99.61%。

寧德時代：30億元科技創新公司債券27日起在深交所上市 香港經濟日報HKET

寧德時代（03750）：30億元科技創新公司債券27日起在深交所上市 香港經濟日報HKET

Gaming and Leisure Properties ( GLPI ) priced a public offering of $800M senior notes due 2036 to be issued by its operating partnership, GLP Capital, L.P. and GLP Financing II, Inc., a wholly-owned subsidiary of the operating partnership. The notes are priced at 99.857% of par value, with a coupon of 5.625%, and will mature on March 1, 2036. The notes will be senior unsecured obligations of the issuers, guaranteed by GLPI. The net proceeds will primarily repay borrowings under the operating partnership's term loan credit facility; remaining funds will support general corporate purposes, such as acquisitions, development/expansion projects, capital expenditures, and debt repayment. The offering is expected to close on March 4, 2026. More on Gaming and Leisure Properties Gaming and Leisure Properties, Inc. (GLPI) Q4 2025 Earnings Call Transcript Gaming and Leisure Properties, Inc. 2025 Q4 - Results - Earnings Call Presentation VICI Properties Vs. Gaming and Leisure Properties: The Vegas-Focused REIT Is The Winner GLPI outlines $2.6B capital deployment pipeline and projects AFFO up to $1.222B for 2026 while expanding development commitments Gaming and Leisure Properties FFO of $1.16 beats by $0.18, revenue of $407M beats by $0.98M

European stocks traded little changed on Thursday as Nvidia Corp. ’s uninspiring results prompted investors to sell high-flying chip machinery stocks and rotate into shares that have been battered by concerns about disruption from artificial intelligence. The Stoxx Europe 600 Index was flat the end of trading after closing at a record high on Wednesday. ASML Holding N.V. was the biggest drag on the index, falling 4.3% as Nvidia declined in US trading following Wednesday’s earnings report. UBS’s EU AI Risk basket, meanwhile, gained 3.8% . Software stocks such as SAP AG , advertising agencies including WPP Group Plc , and professional publishers like Wolters Kluwer NV recouped a small portion of this year’s losses. Among other European individual stocks, Rolls-Royce Holdings Plc rallied as much as 8.4% to a record high after announcing a share buyback. London Stock Exchange Group Plc rose 9.1% after it announced plans to buy back £3 billion ($4.1 billion) of its own shares. Indra Sistemas SA surged 21% after the IT company’s fourth-quarter results “beat across the board,” according to Morgan Stanley. Ocado Group Plc shares fell 6.4% after the grocery software and robotics company reported preliminary results and said it will cut a “ significant ” number of jobs. Hikma Pharmaceuticals Plc shares slid 17% after results . The mixed results follow a largely positive earnings season that has helped lift Europe’s benchmark by about 7% so far this year, outperforming the S&P 500 Index, which is up 0.6%. “Earnings by far have been on the positive side and that’s lending an important tailwind for European equities,” said Aneeka Gupta , macroeconomic research director at WisdomTree. “There should also be a bit of a recovery on the tech side.” European stocks are heading for an eighth straight month of gains as the region’s strength in so-called old economy sectors shields it from the worst of artificial intelligence disruption. That has fueled investor rotation out of US compan...

506228 (JJZ) 表現記錄 Yahoo 財經

现货白银失守87美元/盎司，日内跌0.6%。COMEX白银期货跌超4%，现报87.46美元/盎司。

芯联集成发布业绩快报，预计2025年营业总收入为81.82亿元，同比增长25.70%；归属于母公司所有者的净利润为亏损5.74亿元，同比减亏40.31%；基本每股收益为-0.08元。报告期内，公司聚焦扩大一站式系统代工模式优势，紧抓国产替代窗口期，持续推出国内稀缺的工艺技术平台，提升公司核心竞争力。

格隆汇2月26日｜光迅科技(002281.SZ)公告称，公司于2026年2月26日收到深交所出具的《关于武汉光迅科技股份有限公司申请向特定对象发行股票的审核中心意见告知函》。深交所发行上市审核机构认为公司符合发行条件、上市条件和信息披露要求，后续深交所将按规定报中国证监会履行相关注册程序。公司本次向特定对象发行股票事项尚需获得中国证监会同意注册后方可实施。

‘Index of repression’ includes smears, disinformation and harassment, according to advocacy group Palestinian solidarity is being “silenced, criminalised and sanctioned”, according to an advocacy group that says it has recorded more than 900 examples of repression across Britain in the last six years. People who have been targeted have suffered smears, disinformation, harassment, doxing (having private or identifying information published online), visa cancellations, financial blacklisting, loss of employment and arrest, according to the European Legal Support Center, which along with the research group Forensic Architecture has created the “index of repression”. Continue reading...

跨境投资已非单纯的商业问题，而往往交织着国家政策与公共利益的复杂考量 香港，长江集团中心。图：视觉中国 【财新网】 李嘉诚家族旗下长江集团宣布，与法国公用事业企业ENGIE S.A.达成协议，由长江集团的基建业务实体长江基建（01038.HK）牵头，向对方出售所持英国配电商UK Power Networks(UKPN)的100%权益；出售的基本对价为105.48亿英镑，约合979亿元人民币。 可靠市场消息人士向财新透露，长江集团于2010年收购UKPN的股权价值为25.53亿英镑，自收购以来所获取的股东分派为44亿英镑，是次出售的股权价值为110.78亿英镑。也就是说，长江集团持有UKPN项目约16年来的现金回报率超过6倍。

Atlantic Union Bankshares Corp Has $235.80 Million Holdings in NVIDIA Corporation $NVDA MarketBeat

Argent Advisors Inc. Raises Holdings in Microsoft Corporation $MSFT MarketBeat

龙迅股份发布业绩快报，2025年度实现营业总收入5.68亿元，同比增长21.93%；净利润1.72亿元，同比增长19.05%。报告期内，公司持续迭代升级产品，提升产品性能，积极开发新产品，丰富产品矩阵，积极开拓国内外市场，公司在智能视觉终端、智能车载、AR/VR、AI&HPC四大应用场景全面布局，竞争力进一步加强，实现营收规模的稳步增长。

凯尔达发布业绩快报，2025年度公司实现营业总收入6.5亿元，同比增长16.64%；净利润2638.62万元，同比下降15.54%。2025年度为应对市场竞争加剧的影响，公司持续加大投入，提高公司产品的市场竞争力，研发费用、销售费用同比增长，工业机器人销量持续提升，但综合毛利率同比下降和财务费用同比增加等因素，使公司净利润同比下降。

财政部公告，财政部拟发行2026年记账式贴现（十三期）国债，本期国债为期限182天的贴现债，发行数量为450亿元，不进行甲类成员追加投标。本期国债发行价格通过竞争性招标确定，以低于票面金额的价格贴现发行。本期国债自2026年3月5日开始计息，于2026年9月3日（节假日顺延）按面值偿还。竞争性招标时间为2026年3月4日上午10:35至11:35，采用修正的多重价格招标方式，标的为价格。中标承销团成员需于2026年3月5日前将发行款缴入财政部指定账户。本期国债招标结束至2026年3月5日进行分销，3月9日起上市交易。（财政部）

Sticky dates from palm trees aren’t just a popular way for Egyptians to break this month’s Ramadan fast — they’re an unexpected tool in the country’s bid for an export-backed economic revival. With the global market for the gooey brown superfood topping $29 billion, according to Mordor Intelligence , the North African nation that’s the world’s largest date-grower is poised to capitalize on the opportunities. Egypt notched up $105 million from date exports in 2024, about 20% up on the previous year and more than double the revenue a decade before, according to government data. Supporting the surge are a tree-planting spree, investment in infrastructure and Earth’s largest date-palm plantation. That’s good news for Egypt as it emerges from a two-year economic crisis and attempts to put a ramping up of industrial and agricultural exports at the heart of its resurgence. Authorities are looking to avoid any repeat of a chronic foreign-currency crunch that saw the country’s partners pledge a $57 billion bailout in early 2024. Date consumption surges in the Islamic holy month of Ramadan, which began Feb. 19 in Egypt, the Arab world’s most populous nation. While the vast majority of that crop is bought locally, exports are assuming greater prominence. Egypt produced about 2 million tons of dates last year and shipped some 88,000 tons, according to officials. That makes it the world’s eighth-largest exporter, with Saudi Arabia and Iran in the lead, data compiled by the United Nations’ Food and Agriculture Organization show. Egypt counts Morocco, Indonesia, Malaysia and Turkey among its major buyers. Hard-Currency Source “We should be a top date-exporting country,” Egyptian Agriculture Minister Alaa Farouk said this month at a pre-Ramadan exhibition. “It’s a very important source of hard currency and that’s why the state is invested in expanding the crop and the industry.” There are plenty more markets to conquer. According to the FAO, the world produces about 10 million tons...

收市速睇| 三大指數齊跌，科指收跌2.87%；科網股走弱，百度、快手跌超4%，阿里跌超3%；南方兩倍做多海力士大漲超14%，天數智芯暴漲20%創新高 富途牛牛

浙江大农发布业绩快报，2025年营业收入2.68亿元，同比增长2.09%。净利润3508.71万元，同比下降9.54%。报告期内，公司业绩未发生较大波动。预计公司实现营业收入同比增长2.09%，主要原因系清洗机产品需求量增加所致；归属于上市公司净利润同比下降9.54%，主要原因系银行存款利率调整影响利息收入及汇兑收益同比减少所致；归属于上市公司股东的所有者权益同比增长3.62%，主要原因系经营盈利所致。

天铭科技发布业绩快报，2025年营业收入2.13亿元，同比下降15.96%。净利润3606.87万元，同比下降42.01%。报告期内，公司营业收入较上年同期下降，主要系境外收入减少所致。一方面，受中美贸易摩擦加剧及关税政策变动影响，部分境外客户的出口业务订单流失；另一方面，为维护核心客户的长期合作关系，公司调整了定价策略以提升产品市场竞争力，对营业收入和利润产生了一定影响。

Dividend investors often get too focused on dividend yield, forgetting that dividend growth is important, too. Indeed, if your dividends don't keep up with inflation, their buying power will actually shrink over time. A solid combination of yield and proven dividend growth can be had with PepsiCo (NASDAQ: PEP) and Realty Income (NYSE: O) . Image source: Getty Images. Continue reading

LSEG CEO David Schwimmer joins Bloomberg TV to discuss its full year results, AI, and the changes Elliott Investment Management are pushing for. Schwimmer speaks with Bloomberg's Lizzy Burden and Anna Edwards on The Opening Trade. (Source: Bloomberg)