Israel's Prime Minister Benjamin Netanyahu, U.S. President Donald Trump and United Arab Emirates (UAE) Foreign Minister Abdullah bin Zayed display their copies of signed agreements as they participate in the signing ceremony of the Abraham Accords, normalizing relations between Israel and some of its Middle East neighbors, in a strategic realignment of Middle Eastern countries against Iran, on the South Lawn of the White House in Washington, U.S., September 15, 2020. Tom Brenner | Reuters U.S. President Donald Trump said on Monday that he has asked countries including Qatar, Saudi Arabia, Pakistan, Egypt, Jordan and Turkey to join the Abraham Accords en masse to normalize relations with Israel as part of an agreement with Iran. Trump said he spoke on Saturday to leaders of those countries, as well as the United Arab Emirates and Bahrain, which have already signed the accords, a set of agreements to normalize relations with Israel. "I am mandatorily requesting that all Countries immediately sign the Abraham Accords, and that, if Iran signs its Agreement with me, as President of the United States of America, it would be an Honor to have them also be part of this unparalleled World Coalition," Trump wrote in a post on Truth Social. He cited "all the work done by the United States to try and pull this very complex puzzle together." Trump said those countries would be honored to have Iran as part of the accords once a deal to end the war is reached. Israeli Prime Minister Benjamin Netanyahu's office did not immediately respond to a request for comment on Trump's post. Trump said one or two of the countries he spoke with may have a reason for not joining but most should be "ready, willing, and able to make this Settlement with Iran a far more Historic Event than it would, otherwise, be." Trump also said negotiations with Iran were "proceeding nicely" but gave no indication a deal was imminent. Trump has repeatedly said he wants to expand the accords that he brokered durin...

过去两年，中国互联网内容行业最出乎意料的变量之一，是短剧的爆发。 这种爆发并非单一维度的增长，而是两条主线同时推进： 一是用户规模与市场产值急速扩张，其速度之快，堪称移动互联网的新奇迹； 二是内容质量本身的系统性提升，从制作水准到叙事深度，短剧正在完成一场自我升级。 用户变了，内容变了，流量的性质也变了。 短剧的受众面貌有了全新变化，覆盖了高线城市、高购买力的广泛群体。 短剧的题材也早已突破了单一套路，家庭、司法、现实主义、年代剧等多元类型层出不穷，制作成本与专业水准向传统影视看齐。 短剧的流量，也为品牌开辟了一条兼具短视频分发效率与长视频沉浸时长的全新内容通道。 这些变化叠加在一起，都指向一个全新的判断：短剧已不再是那个需要品牌“试一试”的选项，而正在成长为一个确定性极高的营销阵地。 回顾移动互联网的发展历程，一个有趣的规律反复出现，每当一种新的内容形态崛起，品牌的态度总是惊人地相似：起初是普遍地观望，担心调性不符、效果不明、风险难控；随后，随着少数先行者摘到红利，行业认知开始松动。最终，当用户与规模双双跨过临界点，这种内容形态便成为所有品牌公司都绕不开的必选路径。 而短剧，便是如此。 本文将从用户、内容、流量三个层面的质变入手，分析品牌重押短剧的核心驱动力，并结合一些品牌的真实案例，回答一个品牌方最关心的问题：该如何入局短剧？ 短剧变了 如果说要用一句话概括短剧的现状，那就是：它已经不是两年前的那个短剧了。 从观众构成到内容形态，从制作生态到流量属性，短剧完成了一次翻天覆地的进化。 根据QuestMobile发布的《2026短剧行业洞察报告》，截至2026年2月，国内短剧行业月活跃用户规模已达7.18亿。这意味着每10个中国网民中就有7人在观看短剧。 比规模增长更值得关注的是用户结构的质变。 WETRUE数据显示，18至30岁的年轻观众占比超过五成，年轻群体已成为行业增长的核心驱动力。一线及新一线城市观众的占比持续提升，其中一线城市占21.73%，新一线城市占19.47%，二线城市占22%。 数字背后是真实的内容消费行为。今天，年轻人观看短剧并非因为“无聊打发时间”，而是短剧中确实出现了他们喜欢的内容。 以今年春节档短剧黑马《一家三口在同班》为例，凭借“父母重返18岁与儿子成为同班同学”这一看似荒诞却直击人心的高概念设定，成功撕开了市场缺口。 奇幻穿越只是外壳，...

Key Takeaways Taiwan Semiconductor stands as the dominant manufacturer of cutting-edge processors, producing chips for artificial intelligence accelerators, mobile devices, and high-performance computing systems The foundry giant anticipates approximately 30% revenue expansion in 2026, with AI accelerator sales representing a high-teens proportion of 2025 total revenue ASML produces the essential lithography equipment semiconductor manufacturers require for advanced chip fabrication, delivering €8.8 billion in first-quarter 2026 net sales The Dutch equipment maker upgraded its 2026 revenue projection to €36–€40 billion range with anticipated gross margins between 51–53% Taiwan Semiconductor provides immediate exposure to AI processor manufacturing; ASML delivers wider, less direct participation across the entire chip sector Taiwan Semiconductor produces the planet’s most sophisticated processors. ASML manufactures the equipment that enables their fabrication. These two corporations occupy pivotal positions in the artificial intelligence chip expansion, yet they represent distinctly different investment propositions. Taiwan Semiconductor: Immediate AI Processor Market Access TSMC operates as the manufacturing partner for AI accelerators designed by the industry’s largest chip architects. The corporation projects 2026 revenue expansion approaching 30% measured in U.S. currency. Taiwan Semiconductor Manufacturing Company Limited, TSM Artificial intelligence accelerators represented a high-teens percentage of Taiwan Semiconductor’s complete 2025 revenue. This category encompasses AI graphics processing units, application-specific integrated circuits, and high-bandwidth memory controllers deployed in data center environments. During its first-quarter 2025 financial results presentation, Taiwan Semiconductor indicated that AI accelerator revenue would likely double throughout 2025. This expansion stems from diverse customers and processor varieties, not merely a single pr...

中华人民共和国和塞尔维亚共和国关于持续推进构建新时代中塞命运共同体的联合声明 应中华人民共和国主席习近平的邀请，塞尔维亚共和国总统阿莱克桑达尔·武契奇于2026年5月24日至28日对中华人民共和国进行国事访问。 访问期间，习近平主席同武契奇总统举行了卓有成效的会晤，中国国务院总理李强、全国政协主席王沪宁分别会见武契奇总统。中国和塞尔维亚（以下简称“双方”）就深化中塞铁杆友谊、进一步推进新时代中塞命运共同体建设、拓展全方位互利合作、共建“一带一路”、中国－中东欧国家合作以及共同关心的国际和地区问题交换意见，达成广泛共识。双方特此声明如下： 一、两国元首重申2024年5月发表的《中华人民共和国和塞尔维亚共和国关于深化和提升全面战略伙伴关系、构建新时代中塞命运共同体的联合声明》中各项共识，一致认为，中塞构建新时代命运共同体是双方基于彼此发展道路和人民意愿作出的共同战略抉择。中塞两国虽然历史、文化、国情各异，但始终坚定捍卫国家主权和领土完整，始终坚守公平正义，始终站在历史正确一边，始终秉持开放合作精神，致力于人民幸福和国家富强，致力于维护联合国宪章宗旨和原则，致力于实现人类和平与发展的崇高事业、构建人类命运共同体。双方将共同推动落实全球发展倡议、全球安全倡议、全球文明倡议、全球治理倡议。 双方对新时代中塞命运共同体建设至今取得的合作成果感到满意，一致同意继续本着独立自主、互尊互信、合作共赢、彼此成就的原则，加强政治、经济、科技、社会、文化等各领域合作，不断深化中塞全面战略伙伴关系，持续推进构建新时代中塞命运共同体。 二、双方将继续发挥元首外交对双边关系的战略引领作用，全面贯彻落实两国元首达成的重要共识，商定继续通过会晤、通话、信函往来等形式保持两国高层密切交往。 中方高度评价塞尔维亚经济社会发展和改善经济民生取得的成就，支持塞方维护国家稳定、社会和谐的努力，乐见塞方顺利推进“塞尔维亚2030”发展战略、如期实现各项既定目标，促进塞尔维亚发展和人民福祉。 中方欢迎贝尔格莱德举办2027年世博会，愿积极参展，为这一重要盛会的成功举办作出贡献，同塞方在文化、经济等双方共同关心的领域加强合作。 塞方高度评价中国“十四五”时期取得的重大发展成就，相信“十五五”规划将为中国式现代化建设提供新的战略引领，为包括塞尔维亚在内的各国发展提供更多确定性、稳定性和新机遇。祝愿中国人民在中国共产党...

A trim caravan sits in an idyllic garden in the grounds of a former gatehouse. Its cosy interior is decked with a cornucopia of crafts: pastel-coloured bunting, felt embroidery, a bright rag rug, plumply immaculate cushions. On the sideboard is a small display of pristine china. It feels like a glamping retreat or a chi-chi refuge from the Chelsea flower show. But look more closely at the china, and you’ll see that it’s decorated with Sun newspaper headlines venomously fulminating against Gypsy and Traveller encampments. “STAMP ON THE CAMPS” screams one. Another depicts a blazing caravan from the infamous 2011 Dale Farm eviction, which ended a 10-year standoff between Basildon council and Traveller families, who had bought a former scrap yard on green belt land and set up their caravans on it. It all forms part of Criminal: An Untold Story of Homelessness, Resistance and Survival, a compact yet punchy assemblage of installations, collaborations and infographics that hits you in the gut like a nimble flyweight boxer. Set largely alfresco in the garden of London’s Museum of Homelessness, it explores how homeless people and nomadic communities have been criminalised and marginalised over the last 400 years. View image in fullscreen Better solutions … inside the Museum of Homelessness. Photograph: Lydia Lange The festive bunting here is delicately printed with extracts of state proscriptions relating to nomadic communities, beginning with the Egyptians Act of 1530 (Romany people, who originally migrated from the Indian subcontinent, were mistaken for “Egyptians”, the etymological origin of the word “Gypsy”) and ending with the 2022 Police, Crime, Sentencing and Courts Act, which strengthened police powers to deal with public order and trespass offences regarding “unauthorised” encampments. Hand-stitched felt embroidery extends the theme, with charming naïf tableaux of caravans through the ages. There are cushions spelling out “Home Sweet Home”, overlaid with yet more fe...

The artificial intelligence boom has kicked off one of the largest infrastructure races since the early internet era. Nvidia (NASDAQ:NVDA) GPUs are selling faster than they can be packaged. High-bandwidth memory has become scarce enough that companies like Micron Technology (NASDAQ:MU) and SK hynix are effectively sold out months in advance. Utilities from Virginia to ... IREN’s CEO Just Said 11 Words that Delivered the AI Boom a Brutal Reality Check

伊朗首席谈判代表于周一启程前往卡塔尔，调停方正加紧敲定伊朗与美国之间协议的最终细节。该协议旨在将当前脆弱的停火延长60天，并重新开放霍尔木兹海峡。 一名知情人士透露，伊朗实权人物、议长兼首席谈判代表与外长此次访问多哈，调停方正力求敲定协议最终条款。 伊朗革命卫队下属半官方通讯已证实此次访问。 据伊朗官方媒体报道，伊朗央行行长也于周一前往卡塔尔，商讨解冻伊朗海外被冻结资产事宜。 伊朗在卡塔尔存有60亿美元资产。过去一周，卡塔尔与巴基斯坦一道，在调停中扮演了更重要的角色。 伊朗外交部发言人此前曾指责美国拖延协议达成，称美方不断改变立场，“这自然会扰乱所有谈判”。但他同时表示，双方“已在诸多问题上达成结论”。 美国总统特朗普周一在其“真实社交”平台发文称，“与伊朗伊斯兰共和国的谈判进展顺利！要么达成一份对各方都有利的伟大协议，要么就干脆不谈——重回战场开战，而且规模与强度将远超以往——没人希望那样！” 外交人士表示，双方都希望达成协议，但这番言论折射出交战双方谈判的脆弱性。两国彼此深度不信任，也不愿被视为向对手妥协退让。 责任编辑：何云

Apple has begun imposing ID checks on UK iPhone users - Abdul Saboor/Reuters Meta has urged Labour to enforce age verification checks directly on iPhone and Android smartphones amid a possible UK ban on child users. Executives from the US tech giant have met with senior government officials and Ofcom in recent days to lay out its approach to child safety as it braces for the results of a consultation that could ban under-16s from social media. During the meeting, Meta executives, including Antigone Davis, global head of safety, are understood to have argued that any age checks should be handled on a smartphone operating system rather than by the likes of Meta. Under the proposal, these could then provide a signal that can be double-checked by Meta’s apps, Instagram and Facebook, using its own verification systems. Major technology companies are expected to submit formal responses to the consultation on whether children should be allowed on social media, which closes on Tuesday. So far, it has received 70,000 responses. The technology industry has long argued that ID-checking apps create potential privacy risks. There have also been concerns from tech giants that Australia’s social media ban for under-16s has pushed teenagers onto unregulated services with fewer checks. Kanishka Narayan, the online safety minister, is this week planning to travel to Australia for talks with counterparts about the effectiveness of its ban on under-16s. Facebook has previously insisted that having an age gate built into Apple or Google’s smartphone operating system would allow more effective checks that could be applied across a range of potentially unsuitable apps, rather than just on a handful of big tech giants. Meta has introduced “teen accounts” on its apps intended to place under-18s into age-appropriate experiences. In a blog post earlier this month, Meta said imposing age checks directly on to smartphones or at an app store level would be a “simpler policy approach” and argued ...

The Greenbrier Companies GBX is facing significant challenges that are impacting its financial stability. Weak liquidity and challenging macro-economic scenarios are major headwinds hurting the company’s prospects, making it an unattractive choice for investors’ portfolios. Let’s delve deeper GBX: Key Risks to Watch Southward Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2026 earnings has been revised 27.3% downward over the past 60 days. For fiscal 2027, the consensus mark for earnings has been revised 13.6% downward over the same time frame. The unfavorable estimate revision indicates brokers’ lack of confidence in the stock. Dim Price Performance: The company’s price trend reveals that its shares have declined 17.6% over the past three months, underperforming the Transportation - Equipment and Leasing industry’s 6.5% fall and the S&P 500’s 8.9% increase. Image Source: Zacks Investment Research Weak Zacks Rank: GBX currently has a Zacks Rank #5 (Strong Sell). Bearish Industry Rank: The industry to which Greenbrier belongs currently has a Zacks Industry Rank of 211 (out of 243). Such an unfavorable rank places it in the bottom 13% of Zacks Industries. Studies show that 50% of a stock’s price movement is directly related to the performance of the industry group to which it belongs. A mediocre stock within a strong group is likely to outperform a robust stock in a weak industry. Hence, reckoning the industry’s performance becomes imperative. Headwinds: GBX is being pressured by mounting liquidity concerns, as the company’s current ratio declined sharply from 2.34 in fiscal 2024 to 0.66 in fiscal 2025. Although a slight improvement to 0.71 was recorded by the end of the second quarter of fiscal 2026, the ratio remained below the critical threshold of 1. A current ratio below 1 is generally considered undesirable, as it indicates that the company is not holding sufficient cash to meet its short-term obligations. The company is also being affected ...

格隆汇5月25日｜科技部5月25日发布《人体基因数据研究伦理指引》，旨在规范人体基因数据研究行为，切实保护研究参与者及相关群体的合法权益，促进人体基因数据研究的健康发展。指引由国家科技伦理委员会生命科学伦理分委员会研究编制，明确了人体基因数据是指从人体生物样本（如细胞、组织、器官、体液及分泌物等）中获取或由其衍生的、能够直接反映人类遗传信息的各类数据。

imaginima/iStock via Getty Images Power demand in the U.S. is surging, and so are the related infrastructure investment needs. In this environment, companies making up the State Street Utilities Select Sector SPDR ETF ( XLU ) will be able to redeploy more capital and grow their earnings faster than historically. Regulated utilities is one of the most effective ways to gain exposure to two powerful, long-term trends: rapid data center expansion and industrial reshoring. On top of this, increasing partnerships with private equity positions utilities to generate developer/operator premiums and churn their capital faster. This will enable the utilities to grow their earnings faster than historically. Despite the short-term inflation-related risks, I am bullish on the sector and see it as a longer-term strategic bet. Power Demand And Investment Needs Are Surging The US power sector is expected to require substantial and sustained capital investments over the next two to three decades to fund rising electricity needs. Investments could total $1.4 trillion from 2025 to 2030. After decades of relatively stable electricity demand, the United States is now experiencing a surge in power consumption due to electrification, artificial intelligence–driven data center expansion, and a resurgence in industrial reshoring of manufacturing. Deloitte estimates data centers will require 44 gigawatts (GW) of additional power by 2030. Electric vehicles, the adoption of electric heat pumps for heating and cooling, and the electrification of industrial processes could contribute to further growth, potentially adding up to 20 GW of demand. According to S&P Global Outlook, electricity demand across the US is expected to grow between 1.9% and 2.7% per year from 2024 to 2034. Power demand growth projection (U.S. National Power Demand Study) To meet this surging demand, a lot of new power generation capacity as well as transmission and distribution infrastructure will have to be added. Renewable...

IREN Limited IREN and Cipher Digital Inc. CIFR are key players in the artificial intelligence (AI) infrastructure market that offer next-generation data center infrastructure targeting high-performance computing (HPC), AI workloads and scalable computing. IREN Limited is one of the world’s largest and lowest-cost bitcoin miners that operate next-generation data centers using renewable energy, while Cipher Digital focuses on HPC data centers designed for AI workloads. Currently, IREN and CIFR have an opportunity to capitalize on the emerging AI space as the need for AI compute infrastructure is witnessing a CAGR of 23.8%, per a report by MarketsAndMarkets. With this strong industry growth forecast, the question remains: Which stock has more upside potential? Let’s break down their fundamentals, growth prospects, market challenges and valuation to determine which offers a more compelling investment case. The Case for IREN Stock IREN’s recent financial results reflect its ongoing shift toward AI cloud services. In the third quarter of fiscal 2026, AI Cloud Services revenues were $33.6 million compared with $17.3 million in the previous quarter, reflecting sequential growth of 94.2%. Here, strong AI infrastructure demand and rising contracted capacity are expected to continue supporting growth in IREN's AI cloud business. IREN’s recent partnership with NVIDIA to strengthen its AI cloud business is a key positive. The company signed a $3.4 billion, five-year AI cloud contract with NVIDIA to deploy Blackwell GPUs across 60 megawatts of air-cooled capacity at its Childress campus in Texas. The above-mentioned contract should contribute around $700 million in annual recurring revenues (ARR) and support future growth in AI cloud revenues. However, IREN is seeing near-term pressure on revenues as it moves away from Bitcoin mining and focuses more on AI cloud services. In the third quarter of fiscal 2026, total revenues fell 21.6% from the previous quarter. Management said tha...

科技部5月25日发布《人体基因数据研究伦理指引》，旨在规范人体基因数据研究行为，切实保护研究参与者及相关群体的合法权益，促进人体基因数据研究的健康发展。指引由国家科技伦理委员会生命科学伦理分委员会研究编制，明确了人体基因数据是指从人体生物样本（如细胞、组织、器官、体液及分泌物等）中获取或由其衍生的、能够直接反映人类遗传信息的各类数据。专家表示，指引实施将有效引导我国人体基因数据研究在规范化轨道上行稳致远，最终实现科技创新潜能释放与伦理责任担当的动态平衡。（新华社）

巴西总统卢拉的医疗团队今天（5月25日）发布医疗报告说，卢拉在一个月前切除一处皮肤病变后，目前已开始接受头皮部位补充性的预防性浅层放射治疗。报告还指出，卢拉将继续“不受限制地维持日常活动”。卢拉4月24日在巴西圣保罗接受小型外科手术，切除了头皮上的皮肤病变。巴西媒体报道说，卢拉切除的是一处基底细胞癌病变，相关治疗过程顺利，未出现并发症。该病变通常与长期日晒有关，不会向身体其他部位扩散。（CCTV国际时讯）

格隆汇5月25日｜据央视财经，今年以来，天然橡胶价格持续走高，处于近两年的高位。目前，天然橡胶现货价格在17500—17900元/吨区间内，较2026年初上涨2200元/吨，涨幅约14%。期货价格在17460元/吨，相比年初上涨11%。分析师指出，本轮天然橡胶行情上涨原因如下：从供给端来看，一是由于全球天然橡胶的结构性短缺。据天然橡胶生产国协会预测，2026年全球天然橡胶需求量将攀升至1560.2万吨，而产量预计仅为1532.4万吨，供需存在明显缺口。二是由于极端天气的扰动预期。据国家气候中心预计，今年5月将进入厄尔尼诺状态，天然橡胶主产区面临高温干旱减产风险，进一步加剧市场对供应收紧的担忧。从需求端来看，2026年全球汽车产业温和复苏，我国新能源汽车产销持续增长，欧美轮胎替换与出口需求回升，叠加非洲等新兴市场消费提速，天然橡胶下游需求稳定，为价格提供坚实支撑。此外，中东地缘冲突，推高国际油价，这也直接带动合成橡胶价格上涨，从而间接支撑天然橡胶价格。

Divers who helped in the dramatic rescue of a young Thai football team in 2018 have joined efforts to free seven people who have been trapped for five days inside a remote, flooded cave in central Laos. The group entered the cave in Xaysomboun province on Wednesday to hunt for wildlife and search for gold, reports suggest. Heavy rain led to landslides, which blocked the cave entrance. Laos’s communist government, which tightly controls the country’s media, could not be reached for comment. Footage released by Thai volunteer rescue groups who have travelled to the site showed personnel crawling and climbing through dark, narrow passageways, parts of which were almost completely inundated with muddy waters. Rescuers said a tunnel leading into the cave was only 60cm tall. Experts outside the cave were focused on pumping water out of the passageways, while those inside were fitting rope for rescuers to follow, said Kengkard Bongkawong, the head of operations for Metta Tham Rescue, a Thai rescue group. “The route is not complicated but the problem is the space. It’s so narrow that we have to crawl and tilt to pass through; also the rocks are really sharp,” Kengkard said. 1:20 Rescue team enters flooded cave in Laos in effort to free seven people – video He said rescuers had not received any signs of life but he believed the men were still alive, as a survivor who managed to escape had informed them of a location deeper inside the cave that was above water level. “I’m confident that they are still alive because there is still air in the cave,” said Kengkard, who was part of the diving team in the Tham Luang cave rescue, when 12 young footballers and their coach were brought to safety after more than two weeks in a flooded cave in Thailand’s Chiang Rai province. Rescuers managed to reach a location 40 metres away from the area where they suspected the group may be sheltering but were unable to continue on Sunday night as persistent rains had brought sediment into the passa...

为期两天的盛会，将为每一位创作者打开未来之窗。 五月末的上海，网络视听创作者的热潮即将涌入复兴岛。 上海作为全国网络视听产业高地，持续落实《上海市关于支持互联网优质内容创作的若干举措》（“沪九条”），不断优化创作生态。杨浦区依托中国（上海）网络视听产业基地形成头部企业集聚优势，推出“YOUNG立方”政策、打造“V聚场”创作载体，构建“大学+大厂+大V”联动模式，为优质内容创作提供政策、产业、人才全维度支撑；复兴岛以“全球创客岛”为核心定位，兼具科创与生态优势，正加快打造链接全球创作资源、孵化新锐创作力量的重要空间。 5月28日至29日，2026上海网络视听创作者大会将在上海杨浦区复兴岛船台公园举行。为期两天的盛会，将为每一位创作者打开未来之窗。

原油期货因对美伊可能达成的一项协议的乐观情绪而走低，该协议可能会向油轮运输重新开放霍尔木兹海峡，但市场依然谨慎。 Pepperstone的Ahmad Assiri在一份报告中表示：“尽管双方仍在基本事实上公开相互矛盾，但距离达成具有约束力的协议还有很长的路要走。对于能源市场而言，主要担忧是关于该海峡的不确定性。一项经过验证的协议会给原油带来有意义的下行空间；谈判破裂或仅仅是长期的僵局，都会使地缘政治风险溢价牢牢地嵌入其中。“ WTI原油下跌5.1%，报每桶91.67美元。布伦特原油下跌4.9%，至98.46美元。 责任编辑：李桐

格隆汇5月25日｜特朗普表示，与伊朗就延长停火协议和重新开放霍尔木兹海峡进行的临时协议谈判“进展顺利”。 伊朗代表团前往多哈与卡塔尔高级官员就谈判事宜进行磋商，其中包括讨论解冻被冻结的伊朗资金。 美国和伊朗仍需敲定一些关键细节，包括是否允许过境霍尔木兹海峡的船只自由通行，以及数十亿美元的伊朗资金何时解冻。

hyejin kang/iStock via Getty Images 3-Year Morningstar Rating™ **** **** Class A Institutional Class Click to enlarge The Morningstar Rating is for the indicated share classes only as of 03/31/26; other classes may have different performance characteristics. The Morningstar ratings for the overall, three-, five- and ten-year periods for Class A shares are 3 stars, 4 stars, 3 stars and 3 stars and for Institutional Class shares are 3 stars, 4 stars, 3 stars and 3 stars among 1212, 1212, 1122 and 886 Large Blend funds, respectively, and are based on a Morningstar Risk-Adjusted Return measure. U.S. equities transition into normalization despite geopolitical and energy risks. Fund strategy Philosophy based on belief that investment opportunities can be found where the market displays an inordinate amount of pessimism Uses a large investment universe with an aim to capitalize on out-of-favor stocks Adds insight from quantitative and fundamental research teams Expense ratio Share class No waiver (gross) With waiver (net) Institutional 0.73% 0.73% A 0.98% 0.98% Click to enlarge From the fund's most recent prospectus. Net expense ratio reflects a contractual fee waiver/expense reimbursement through 12/31/2026, unless sooner terminated at the sole discretion of the fund's board. Fund performance Institutional Class shares of Columbia Contrarian Core Fund returned -5.63% (net of fees) during the first quarter, underperforming the fund's benchmark, the Russell 1000 Index, which returned -4.18% for the same period. U.S. equities declined during the first quarter, as a late-period geopolitical shock and higher interest rates pressured growth stocks, despite resilience in value sectors. Fund performance is available online at Financial Professionals | Columbia Threadneedle Investments US . Market overview U.S. equities posted a loss during the first quarter, as gauged by the -4.18% return of the Russell 1000 Index. Stocks initially moved sideways in a range through January and Fe...

International Flavors & Fragrances Inc. IFF is well-positioned to benefit from demand for a variety of consumer products containing flavors and fragrances going forward. Its disciplined approach to capital allocation is expected to drive growth in the upcoming years. The company is simplifying its portfolio, including the completed soy business divestiture and an active Food Ingredients sale process, which could support deleveraging and focus investment on core businesses in the upcoming years. What Aids IFF’s Stock? Demand for Flavors & Fragrances: International Flavors is well-positioned to benefit from demand for a variety of consumer products containing flavors and fragrances going forward. Anticipated growth in emerging markets will likely be a key catalyst. Moreover, International Flavors is focused on gaining share in emerging markets. Backed by the company’s global presence, diversified business platform, broad product portfolio, and global and regional customer base, it will be able to capitalize on the expansion in flavors and fragrances markets. This is expected to help the company deliver long-term growth. Its focus on driving greater efficiencies throughout the business through costs and productivity initiatives, margin improvement and acquisition-related synergies continues to drive profits. Strategic Portfolio Actions: To drive growth, the company plans to step up its investment in high-return businesses such as Flavors, Fragrances, Health, Cultures & Food Enzymes. In May 2025, International Flavors completed the divestiture of its Pharma Solutions business unit to Roquette and its nitrocellulose business to Czechoslovak Group. At the beginning of the first quarter of 2025, the company separated its Nourish segment into the Taste and Food Ingredients segments as a part of a broader strategy to reorganize businesses around end markets. Portfolio actions remained a key part of the company’s first-quarter narrative. In March 2026, it completed the sale o...

5月25日上午，国务院总理李强在北京人民大会堂会见来华进行国事访问的塞尔维亚总统武契奇。 李强表示，今年是中塞全面战略伙伴关系建立10周年。近些年，中塞元首保持良好密切交往，为两国关系发展提供了战略指引和重要保障。今天下午，习近平主席将同总统先生举行会晤，就推进新时代中塞命运共同体建设作出进一步规划。中方愿同塞方一道继续努力，始终做相互信赖的伙伴，坚定支持彼此核心利益，推动各领域合作不断走深走实，更好服务各自现代化建设，为两国人民带来更多福祉。(新华社)

The Czech Republic’s prime minister urged the central bank to cut interest rates, doubling down on his push for lower borrowing costs even as the country faces growing inflation risks from energy prices. “I’m calling on the governor, again, to lower rates, to lower the main rate,” premier Andrej Babis told a televised briefing after a cabinet meeting in Prague on Monday. His words come after the Czech National Bank left the benchmark at 3.5% this month. The bank’s head said policy setting was still “moderately restrictive” and that the next decision will be whether to raise rates or keep them stable. While central bankers said they won’t react to the primary impact of higher energy prices, Governor Ales Michl has pledged to do everything necessary to preserve low inflation, even if keeping rates higher for longer weighs on economic growth. But Babis, a chemicals and agriculture tycoon who returned to power last year, said there’s no reason for Czech citizens and businesses to pay higher rates than in the euro area. Securing more affordable housing through cheaper mortgages was one of his key campaign promises. A central bank spokesman said the institution doesn’t comment on statements made by politicians. Policymakers had been discussing potential rate cuts before the war in Iran erupted, but surging oil prices have dampened such considerations. An April central bank survey showed that most economists expected no rate change within one year. Still, investors started betting on monetary tightening after the Middle East conflict began and forward rate agreements now indicate expectations of more than 75 basis points of rate hikes over the next 12 months. Read More: Czech Central Bank Chief Ready to Hike If Core Price Risks Grow

格隆汇5月25日｜日产汽车公司取消了在英国生产纯电动汽车驱动设备“动力总成”的计划。为推进经营重组，日产已经决定削减国内外的汽车工厂数量并缩减产能，也将调整动力总成的生产基地。原计划进行生产的是与日产共同开发EV动力总成的子公司“加特可”（Jatco）。加特可原计划2026年在英国中部桑德兰建成工厂，并向附近的日产的汽车厂供货。

格隆汇5月25日｜俄罗斯斯兹里安（Syzran）石油精炼厂在遭受袭击后停止了运营。

Key Points The firm sold 1,067,297 shares of Telephone and Data Systems. The fund no longer holds any shares. The position represented 4.0% of the fund's AUM as of the prior quarter. 10 stocks we like better than Telephone And Data Systems › On May 15, Diameter Capital Partners LP reported in a filing with the Securities and Exchange Commission that it sold out of Telephone and Data Systems (NYSE:TDS), disposing of 1,067,297 shares. Sold 1,067,297 shares of Telephone and Data Systems; Post-trade, the fund holds zero shares The position was previously 4.0% of fund AUM as of the prior quarter What else to know Top holdings after the filing: NYSE: SPY (put): $325.2 million (30.4%) NASDAQ: SATS: $172.2 million (16.1% of AUM) NYSEMKT: IVM (put): $99.2 million (9.3% of AUM) NASDAQ: UNIT: $53.3 million (5% of AUM) NASDAQ: NBIS (1.25% cv bond): $38.5 million (3.6% of AUM) Company overview Metric Value Revenue (TTM) $2.1 billion Net income (TTM) $338.6 million) Dividend yield 0.4% Price (as of market close May 22) $39.30 Company snapshot Telephone and Data Systems is a diversified telecommunications provider with a national presence, operating through both wireless and wireline business units. Its strategy focuses on delivering reliable communications infrastructure and value-added services to sustain competitive positioning in the U.S. market. Provides wireless solutions, IoT connectivity, broadband, cloud TV, and voice services through the UScellular and TDS Telecom segments. Generates revenue primarily from wireless subscriptions, broadband and cable connections, and related device and service sales to consumers, businesses, and government clients. What this transaction means for investors The share sale represents a significant sale for Diameter Capital since the $43.4 million stake was the firm’s fifth-largest holding as of Dec. 31. Diameter’s current reportable portfolio, which includes equities, call and put options, and convertible bonds, totaled $1.1 billion as of M...

SGAPhoto/E+ via Getty Images Introduction Back when I first covered McCormick & Company ( MKC ), I called them “A Dividend Aristocrat Priced For Perfection,” rating them a Hold as the valuation left little margin of safety despite the macro uncertainty. With the stock now down nearly 30% since then to decade-lows after the Iran conflict began and the major deal being announced, I’m upgrading MKC to Buy, as the valuation now implies a much more attractive risk-reward potential, with solid re-rating potential in the long term as synergies and macro improvements unfold. Solid Start to 2026 McCormick & Company IR MKC’s Q1 report was solid overall, posting a double beat on EPS and revenue compared to the market's expectations , with a strong 16.7% YoY increase in revenue thanks to the additional 25% stake purchased in McCormick de Mexico (now owning 75%) that I highlighted previously, while still reaching a decent organic increase of 1.2%, with the 1.9% increase in price offsetting the 0.7% decline in volume. McCormick & Company IR As for the outlook, MKC now expects net sales to grow between 12% and 16% (constant currency) when including the acquisition effects or 1% to 3% organically, with Adjusted EPS growth of 1% to 4%, which is overall similar to the broader food or consumer-related industries. They also expect to mitigate the 6% impact of tariffs on their Adjusted EPS, continuing to focus on their long-term growth plans while navigating the uncertain macro landscape. McCormick & Company IR Financially, based on MKC’s latest report , we continue to see that the current assets aren't covering their current liabilities given the business model and timing of payables and receivables, with very little cash available but overall manageable long-term debt, while the recent $500 million notes issued (due in February 2029) come at a cost of only 4.15%, which is great and serves as a testament to their perceived quality, although it’s very important to note that these were u...

Key Points Ackman completely disposed of Alphabet, which Pershing Square had held since 2023. By contrast, the tech giant has become Berkshire's fifth-largest marketable equity position. Alphabet is showing strong, AI-fueled momentum across multiple business segments. 10 stocks we like better than Alphabet › Bill Ackman is one of the most followed investment managers in the market today, and for good reason. His Pershing Square Holdings fund has produced annualized returns of 14.9% from its founding in 2004 through 2025 based on its stock price, handily beating the S&P 500 in that time. Meanwhile, Greg Abel is better known for his managerial acumen than for his investing chops. Nonetheless, he's now in charge of Berkshire Hathaway's (NYSE: BRKA) (NYSE: BRKB) massive $330 billion equity portfolio (with an extra $380 billion in cash on the sidelines). 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 two found themselves on opposite sides of a trade last quarter. While Abel was adding to Berkshire's position in Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), Ackman was selling the shares he'd held since 2023. Ackman completed selling all of Pershing Square's Alphabet shares in April; meanwhile, the stock is suddenly Berkshire's fifth-largest position, representing a significant bet from Abel. Which investment manager should readers follow? The full-stack artificial intelligence company Alphabet has long been a leading innovator in artificial intelligence (AI), and it now finds itself in a position where it's monetizing those efforts across multiple layers of the AI value chain. Its Google Cloud business rents compute capacity to developers, providing access to AI services that enable developers to build on top of foundation large language models. It sells access to popular AI accelerator chips, including...

伊朗防空力量当天使用新型防空手段在波斯湾上空击落一架敌方无人机。报道说，伊方此次行动使用了配备新型系统的“阿尔什神箭手”防御体系，在波斯湾上空成功实施拦截。伊方称，该系统具备一定隐蔽能力，相关技术和作战细节尚未公开。报道说，这一行动表明伊朗具备应对“隐身无人机”进入波斯湾空域的能力。另据迈赫尔通讯社当天早些时候报道，伊朗格什姆岛地区传出防空警报声，当地居民报告称听到相关声响。（新华社）

Guinea , the world’s biggest bauxite producer, plans to announce reforms next month to control exports of the ore used in making aluminum as it bids to bolster prices. Bauxite shipments from Guinea, which accounts for more than a third of global production, surged by a quarter to 183 million tons in 2025, before growth accelerated further during the first three months of this year. That contributed to a market downturn, according to the West African nation’s Mines and Geology Minister Bouna Sylla, with prices slumping by almost a half from a peak early last year. “Supply mustn’t exceed demand,” Sylla told Bloomberg News in an interview. “We want to regulate the quantity to raise prices back to reasonable levels.” Bauxite is the raw material used to make alumina, which is then processed further into aluminum. Most of Guinea’s bauxite output is shipped to China. The government expects to finalize the new policy, first flagged a few months ago, in June, the minister said. Mining investors “have an interest in seeing prices rise,” Sylla added. Read more: World’s Top Bauxite Producer Guinea Seeks to Control Prices Guinea’s initiative follows moves by the Democratic Republic of Congo and Zimbabwe to restrict exports of cobalt and lithium, respectively, which are mainly shipped to China’s dominant battery industry. Like those countries, Guinea is also trying to boost investment in local processing plants to capture more value from its natural resources. Read more: Battery Metal Curbs Sting Chinese Miners Who Spent Big in Africa Guinea is pushing miners to build refineries capable of producing alumina, with three facilities already at the planning stage or under construction to add to the country’s single existing plant. China’s State Power Investment Corp. , Aluminum Corp. of China Ltd. and a consortium headed by Singapore-registered Winning International Group are developing those refineries, which will process some of the bauxite produced at their operations in the count...