Hong Kong is a stable base for global wealth as rising geopolitical tensions and economic uncertainties prompt wealthy families to rethink where they base their assets, according to Financial Secretary Paul Chan Mo-po. “We are living in a world marked by uncertainty and conflicts,” Chan said at the gala dinner of the Wealth for Good in Hong Kong Summit on Tuesday evening. “The rules-based internat...
Hong Kong is a stable base for global wealth as rising geopolitical tensions and economic uncertainties prompt wealthy families to rethink where they base their assets, according to Financial Secretary Paul Chan Mo-po. “We are living in a world marked by uncertainty and conflicts,” Chan said at the gala dinner of the Wealth for Good in Hong Kong Summit on Tuesday evening. “The rules-based international order is under strain. Some even say it has been ruptured.” Facing such a situation, investors...
Norway’s $2.1 trillion wealth fund is saving “billions of kroner” by using artificial intelligence in trading and investment decisions, but those gains will not lead to staff cuts, its chief executive officer said. “You should introduce AI in society to increase your production and value creation rather than cutting people out,” Nicolai Tangen said in an interview on Tuesday, describing such job e...
Norway’s $2.1 trillion wealth fund is saving “billions of kroner” by using artificial intelligence in trading and investment decisions, but those gains will not lead to staff cuts, its chief executive officer said. “You should introduce AI in society to increase your production and value creation rather than cutting people out,” Nicolai Tangen said in an interview on Tuesday, describing such job eliminations as “destructive.” More than half of the fund’s 650 employees currently write code — using mostly Anthropic PBC’s Claude — as part of a drive to boost efficiency by 20% across the organization. Tangen said he has been pushing staff to embrace the technology during a seminar earlier in the day at the Oslo offices of the Norges Bank Investment Management , as the fund is officially known. The 59-year-old former hedge fund manager said last year that promotions would hinge on learning AI. “We want to increase the quality of what we do, reduce costs in our trading and the other functions,” said Tangen, whose approach offers a counter-narrative to widespread fears about white-collar displacement. Read More: Norway Wealth Fund Chief Tells Staff That Using AI Is a Must During the seminar, the fund’s executives said they are using AI tools and building AI agents for over 170 different projects — from simulating contract negotiations to cleaning up decades-old company accounts. The fund’s AI team has grown to 10 from three, according to Stian Kirkeberg , who heads up its AI and machine learning. To kick-start the use of the technology, the fund asked employees to volunteer as so-called AI ambassadors, then provided them with specialized training in Claude over a two-month period. Read More: Norway Wealth Fund Says AI Caught Risks That Others Missed “We gave them ample time to experiment,” Kirkeberg said. He added that employees are free to choose any model as long as it’s from “trusted sources.” In addition to Claude, they are using Google’s Gemini and Anysphere, Inc. ’s ...
FilippoBacci Wall Street’s major market averages pushed lower on Tuesday as traders continued to monitor developments related to the U.S.-Israel-Iran conflict. The blue-chip Dow ( DJI ) was -0.8%, while the benchmark S&P 500 ( SP500 ) was -0.8%, and the tech-focused Nasdaq Composite ( COMP:IND ) was -1%. From a sector-by-sector stance, nine of the 11 S&P sectors are hovering in the red, with info ...
FilippoBacci Wall Street’s major market averages pushed lower on Tuesday as traders continued to monitor developments related to the U.S.-Israel-Iran conflict. The blue-chip Dow ( DJI ) was -0.8%, while the benchmark S&P 500 ( SP500 ) was -0.8%, and the tech-focused Nasdaq Composite ( COMP:IND ) was -1%. From a sector-by-sector stance, nine of the 11 S&P sectors are hovering in the red, with info tech suffering the most. At the other end, energy has been the strongest performer so far, with oil ( CL1:COM ) back on the move higher. U.S. Treasury yields continued to move higher. The shorter end 2-Year Treasury yield ( US2Y ) was up 5 basis points to 3.90%, and the popular 10-Year Treasury yield ( US10Y ) was up 6 basis points to 4.41%. Hopes of tensions easing in the Middle East came into the picture after President Donald Trump said the U.S. would postpone military action against Iran and the two countries were close to signing a deal. However, an Israeli official said Tuesday that any deal to end the war with Iran does not appear close, suggesting the purported diplomacy may be a tactic to buy time as Israel presses ahead with military operations in Iran and Lebanon, according to a media report. On the economic calendar, U.S. PMI Composite data edged down in March, while manufacturing PMI rose. As for stocks that were on the move, Corning Incorporated ( GLW ) climbed +3.6%, and shares of Estée Lauder Companies ( EL ) fell -8.1%. More on markets Cantor Fitzgerald sees the current market pullback as a possible opportunity BNP Paribas raises 2026 inflation outlook as it signals a new 3% era Wells Fargo sees the U.S. economy weathering an oil shock as inflation risks stay contained Sector breakdown since the start of the U.S.–Iran conflict: Energy leads, materials lags The AI Bubble Is Going To Burst
Mohammad Bagher Ghalibaf, who has threatened US, being weighed up as potential interlocutor to bring war to an end Middle East crisis – live updates Just as in 1967 when a rank outsider won the Grand National due to a massive pile-up of other horses at one of the final fences, Mohammad Bagher Ghalibaf, the speaker of Iran’s parliament and Donald Trump’s putative interlocutor , appears to have come...
Mohammad Bagher Ghalibaf, who has threatened US, being weighed up as potential interlocutor to bring war to an end Middle East crisis – live updates Just as in 1967 when a rank outsider won the Grand National due to a massive pile-up of other horses at one of the final fences, Mohammad Bagher Ghalibaf, the speaker of Iran’s parliament and Donald Trump’s putative interlocutor , appears to have come to the front as the field around him rapidly thinned. In the pantheon of Iran’s leaders, ruthlessly reduced by targeted assassinations, Ghalibaf stands out as a survivor, but if the US president hopes he has finally located the Delsy Rodríguez of Iran – a pragmatic leader from within the regime willing to do business with America – he may need to think again. Continue reading...
A Mixue Bingcheng store in Qingshan district, Wuhan. Photo: VCG Chinese beverage chain Mixue Group reported sharply higher revenue and profit for 2025, fueled by rapid expansion in China’s lower-tier cities that more than offset a pullback in its overseas footprint. The Hong Kong-listed company also said Tuesday that chief financial officer Zhang Yuan will be promoted to chief executive, in a mana...
A Mixue Bingcheng store in Qingshan district, Wuhan. Photo: VCG Chinese beverage chain Mixue Group reported sharply higher revenue and profit for 2025, fueled by rapid expansion in China’s lower-tier cities that more than offset a pullback in its overseas footprint. The Hong Kong-listed company also said Tuesday that chief financial officer Zhang Yuan will be promoted to chief executive, in a management shake-up that hands day-to-day control to a finance executive as the company scales up at home and recalibrates abroad.
Aree Sarak/iStock via Getty Images As I’ve covered in a previous article some months ago, I see Marsh & McLennan Companies, Inc. ( MRSH ) as an interesting growth play in the insurance sector due to its strong fundamentals and growth strategy based on organic efforts and acquisitions. Despite that, MRSH shares have delivered a negative return in recent months and slightly underperformed the market...
Aree Sarak/iStock via Getty Images As I’ve covered in a previous article some months ago, I see Marsh & McLennan Companies, Inc. ( MRSH ) as an interesting growth play in the insurance sector due to its strong fundamentals and growth strategy based on organic efforts and acquisitions. Despite that, MRSH shares have delivered a negative return in recent months and slightly underperformed the market, due to concerns about AI and some cyclical issues. Article performance (Seeking Alpha) From an operating perspective, Marsh has delivered a good performance during 2025, supported both by organic growth and the consolidation of McGriff, that was bought back in November 2024 and has now contributed to Marsh’s revenues and earnings for a full year. In 2025 , Marsh’s revenues amounted to nearly $27 billion, up by 10% on a reported basis and increasing by 4% from the previous year on an underlying basis. By operating segment, the acquisition of McGriff impacted mainly its Marsh Risk unit, which reported revenue growth of 12% YoY, or 4% on an underlying basis. This acquisition increased the weight of Risk & Insurance Services within the group, to about 64% of overall revenues in 2025. This acquisition was also positive for the company’s operating leverage, as operating expenses increased by 11.3% to $20.7 billion during the last year. This was a slightly lower growth rate than compared to revenues, leading to some margin expansion last year. Indeed, its adjusted operating margin increased to 27.1% in 2025, representing its 18th consecutive year of margin expansion. KPIs (Marsh) However, due to higher indebtedness following the acquisition of McGriff, which resulted in higher interest costs, its net income was up by only 2.5% YoY to $4.16 billion. From a balance sheet perspective, the company’s net debt increased significantly due to McGriff’s acquisition, which was largely financed through debt. Marsh’s net debt amounted to some $19.8 billion at the end of 2025, representing a...
Thawatchai Chawong/iStock via Getty Images The fourth quarter began with a U.S. government shutdown, which lasted into mid-November. The U.S. economy avoided major broad-based disruption. However, the shutdown hampered economic data collection – creating a considerable information vacuum just as markets sought clarity on growth, inflation, and policy trajectories. Following resumed economic data, ...
Thawatchai Chawong/iStock via Getty Images The fourth quarter began with a U.S. government shutdown, which lasted into mid-November. The U.S. economy avoided major broad-based disruption. However, the shutdown hampered economic data collection – creating a considerable information vacuum just as markets sought clarity on growth, inflation, and policy trajectories. Following resumed economic data, the broader U.S. macroeconomic landscape held firm with ongoing resilience amid a gradually cooling labor market. The downside labor market risk kept U.S. Federal Reserve easing in play, leading to two rate cuts in the quarter even as the economy expanded. The global tariff environment proved less disruptive than earlier fears. U.S. monthly tariff collections rose but remain well below levels implied by announced policies. Financial markets capped a strong 2025 with fourth-quarter gains in both equities and fixed income. Non-U.S. equities outpaced the U.S., leaving global equities with a low-single-digit gain. For the U.S., a strong third-quarter corporate earnings season helped bolster the earnings outlook heading into 2026. Artificial intelligence (AI) remained a central market topic, with investors shifting from broad-based enthusiasm to taking a more critical look at potential returns of AI-related investment plans. This led to more varied performance across the largest tech-related and AI-adjacent companies. The clean energy transition continues to look less like a values-driven aspiration and more like a capital deployment cycle driven by economics and scale. Recent commentary from Bill Gates reinforces this framing, emphasizing that progress is increasingly coming from falling costs, technological learning curves, and the commercialization of solutions that were previously uneconomic. That perspective aligns with what markets are already signaling: clean power, electrification, and grid investment are now competing on fundamentals, not just policy support. For invest...
(RTTNews) - Shares of The Estée Lauder Companies Inc. (EL) are moving down about 7 percent on Tuesday morning, possibly due to the impact of its announcement yesterday, confirming that it is engaged in discussions with Puig regarding a potential business combination that could re
(RTTNews) - Shares of The Estée Lauder Companies Inc. (EL) are moving down about 7 percent on Tuesday morning, possibly due to the impact of its announcement yesterday, confirming that it is engaged in discussions with Puig regarding a potential business combination that could re
AlexSecret The U.S. PMI Composite slipped to 51.4 from 51.9 in February as the service PMI's decline more than offset the manufacturing sector's improvement, according to data released by S&P Global on Tuesday. U.S. business activity slowed to an 11-month low in March, reflecting slightly weaker new orders gains and a spike in prices after the outbreak of war in the Middle East. Manufacturing PMI ...
AlexSecret The U.S. PMI Composite slipped to 51.4 from 51.9 in February as the service PMI's decline more than offset the manufacturing sector's improvement, according to data released by S&P Global on Tuesday. U.S. business activity slowed to an 11-month low in March, reflecting slightly weaker new orders gains and a spike in prices after the outbreak of war in the Middle East. Manufacturing PMI of 52.4 in March, topping the. 51.5 consensus, increased from 51.6 in February, signaling an eighth straight month of improvement in factory business conditions. "Production growth accelerated slightly as new orders showed the largest rise since last October," S&P Global said. "Input inventories also contributed positively, rising again after falling for the first time in seven months in February as factories sought to ensure supply of inputs amid delivery worries." Services PMI dipped to 51.1 , missing the 52.0 consensus, from 51.7 prior. "Companies are reporting a hit to demand from the additional uncertainty and cost of living impact generated by the conflict," said Chris Williamson, chief business economist at S&P Global Market Intelligence. "Travel, transport, and tourism-related issues are compounded by financial market jitters and affordability constraints, notably including concern over the impact of higher interest rates, surging energy prices, and supply chain delays." More on the US Economy Yesterday's Optimism Turns More Guarded U.S. Debt Hits $39 Trillion: Post-WWII Playbook Revisited Productivity revised lower to 1.8% in Q4, while labor costs revised higher Chicago Fed National Activity Index dips in February
Exclusive: UK regulator makes U-turn over TalkTV and TalkRadio complaints after claims it let some broadcasters ‘spout dangerous climate lies’ A U-turn by the UK’s broadcasting regulator Ofcom means it will investigate complaints of climate change denial on television and radio for the first time since 2017. The move marks a victory for campaigners who have accused the regulator of allowing some b...
Exclusive: UK regulator makes U-turn over TalkTV and TalkRadio complaints after claims it let some broadcasters ‘spout dangerous climate lies’ A U-turn by the UK’s broadcasting regulator Ofcom means it will investigate complaints of climate change denial on television and radio for the first time since 2017. The move marks a victory for campaigners who have accused the regulator of allowing some broadcasters “to spout dangerous climate lies” and “flout” rules on accuracy and impartiality. Complaints about programmes on TalkTV and TalkRadio were assessed by Ofcom, which then decided not to investigate, the same result as more than 1,000 other climate complaints since 2020. However, after a letter from the Good Law Project (GLP) in January, requesting an explanation for the rejections, Ofcom said it had withdrawn its original decision and would “consider afresh” the complaints. Continue reading...