Source: Bloomberg, 30:05

A severely damaged Russian tanker carrying liquified natural gas that has been adrift in the Mediterranean for two weeks, raising concerns of an ecological disaster, has floated into Libyan waters, Italy’s civil protection agency said on Wednesday. The Arctic Metagaz was part of a Russian “shadow fleet” used to circumvent sanctions imposed on the country’s oil and gas after its full-scale invasion of Ukraine in February 2022. It was struck in a suspected drone attack close to Maltese waters earlier this month, causing a huge hole. The crew is believed to have been rescued between Malta and Libya. Earlier this week the tanker was adrift between Malta and the Sicilian island of Lampedusa, prompting the governments of Italy, France, Malta, Spain, Greece and Cyprus to write a joint letter to the European Commission president, Ursula von der Leyen, warning that the vessel posed an “imminent and serious risk of a major ecological disaster”. A spokesperson for Italy’s civil protection agency, which has been monitoring the situation, told the Guardian that the vessel was now in Libya’s territorial waters and therefore the responsibility of the north African country’s authorities. Libya on Wednesday issued a navigation advisory to all vessels operating in the area – where sea conditions were currently rough – urging them to exercise maximum caution, according to reports in the Italian press. The spokesperson for Italy’s civil protection said that while no leaks had been detected, the fundamental risk was the “dispersion into the sea of the hydrocarbons onboard”. They said: “There are about 90 tonnes of heavy oil or diesel onboard, so we are more certain of this risk. The other danger is related to the gas that the tanker was transporting. We are less certain about its quantity, but there could be gas dispersion.” Russia’s foreign ministry acknowledged that the Arctic Metagaz, which had been carrying LNG from the Arctic port of Murmansk, was adrift in the Mediterranean and sa...

Key Points Although most sectors are measurably outperforming the overall market, while only a small number are slightly underperforming it, the market and its index-based ETFs are somehow struggling. Investors should have known, however, that this outcome was more than likely when it started to unfurl. While index investing is still a sound strategy for all long-term investors, there are opportunities to squeeze more out of the market by understanding how index ETFs are structured. 10 stocks we like better than SPDR S&P 500 ETF Trust › The biggest reason for owning an index fund like the SPDR S&P 500 ETF Trust (NYSEMKT: SPY) or the Vanguard S&P 500 ETF (NYSEMKT: VOO) is always sound. That is, by owning a cross-section of the market's major companies, you get lots of diversification. That doesn't mean your position won't occasionally lose ground, since stocks tend to move higher or lower as a herd. If you're patient, though, the strategy pays off because you're plugged into the market's inherent long-term bullishness. But every now and then, circumstances can cause index investing to work against you. 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 » That's what happened beginning late last year. Since Nov. 20, the aforementioned SPYders, as well as the S&P 500 (SNPINDEX: ^GSPC), have barely broken even (up 1.5%), even though seven of the market's major sectors have logged nice gains, while its four other key industry groupings have suffered only slightly worse performances. Here's what you need to know. Not as well-balanced as you think it's supposed to be It seems like a mathematical impossibility -- if a well-diversified mutual fund or exchange-traded fund holds stocks from every sector, it should dish out the average performance of those sectors. Yet that's clearly not happening here. As the gra...

Unearthed Docs Reveal More Names Targeted in Biden DOJ's Fishing Expedition Authored by Luis Cornelio via Headline USA , Former Special Counsel Jack Smith targeted more Republican lawmakers and conservative figures than previously known, newly unearthed documents show. Smith, tasked by the Biden administration with prosecuting Donald Trump after 2021, has faced scrutiny since 2025, when bombshell disclosures revealed he targeted GOP lawmakers as well as dozens of conservative nonprofits and PACs. Newly reported DOJ documents, first obtained Tuesday by Fox News, show the scope extended to former White House chief of staff Mark Meadows, Trump attorney Rudy Giuliani, and Reps. Brian Babin, R-Texas, and Andy Biggs, R-Ariz. Also included were now-EPA Administrator Lee Zeldin, who was then a GOP lawmaker, and former Reps. Mo Brooks, Matt Gaetz, Paul Gosar, Louie Gohmert and Jody Hice. Smith’s team internally debated seeking phone toll records for the targets, including highly sensitive data like incoming and outgoing numbers, call times and durations, before deciding whether to issue subpoenas. The effort emerged through former DOJ attorney Timothy Duree, who was removed from the department after Trump was sworn in for a second term in January 2025. “I’d like to seek [the Public Integrity Section’s] concurrence to get phone tolls for several MOCs who had contact with pertinent parties in our investigation,” Duree wrote. “I’ll keep the timeframe tight—probably October 1, 2020, to January 31, 2021.” The documents show Duree compiled a list of 16 names as he weighed whether to subpoena them all at once, though some of those records were ultimately obtained by Smith. That list included additional Republican lawmakers previously identified in earlier disclosures, including Sens. Lindsey Graham, R-S.C., Bill Hagerty, R-Tenn., Josh Hawley, R-Mo., Dan Sullivan, R-Alaska, Tommy Tuberville, R-Ala., Ron Johnson, R-Wis., Cynthia Lummis, R-Wyo., Marsha Blackburn, R-Tenn., and Rep. Mik...

petrovv/iStock via Getty Images Venezuela’s acting president Delcy Rodríguez has replaced longtime defense minister Vladimir Padrino with intelligence figure Gustavo González López, marking a major shift in the country’s military leadership. Padrino, who had held the role since 2014 and was a key pillar of Nicolás Maduro’s government, is being sidelined as Rodríguez reshapes her inner circle following Maduro’s capture earlier this year. González López, a former intelligence chief, has faced U.S. sanctions tied to alleged involvement in repression of anti-government protests. Padrino had long been seen as central to maintaining military loyalty during Venezuela’s political and economic crises, while also overseeing the armed forces’ expanding role in key sectors of the economy. More news and analysis Adobe: 3 Reasons Not To Buy, 1 Reason Not To Sell After Q1 Semperit Aktiengesellschaft Holding (SEIGY) Q4 2025 Earnings Call Transcript Pizza Pizza Royalty: I'm Not Taking A Bite At Current Valuations Compass drops lawsuit against Zillow 'Too soon' to know scope, duration of Middle East effects on inflation, Powell says in press conference

Retirement is definitely a milestone worth getting excited about. And if you've saved nicely, you may be looking at a generous nest egg to tap. But one of the most important things you can do to keep your retirement savings from running out is come up with a smart withdrawal strategy early on. A lot of financial experts are fans of the 4% rule, which has you taking out 4% of your savings your first year of retirement and adjusting future withdrawals for inflation. But you may want to start with a smaller withdrawal percentage, or a higher one. Here are some factors to consider when setting a withdrawal strategy at the start of retirement. Your retirement age If you're retiring at a fairly average age (meaning, at some point in your 60s), you may feel comfortable sticking to a withdrawal rate around 4%. If you're retiring at a later age than what's typical, you may be able to take larger withdrawals, since your money won't need to last as long. And if you're retiring early, smaller withdrawals could be a safer bet. Your spending needs If you have a $3 million nest egg, the 4% rule allows you to withdraw $120,000 your first year of retirement. But if you expect to be able to cover your costs on $90,000 a year, then why withdraw extra if you don't need to? Think about what your bills look like, and factor in any additional spending you may want to do your first year of retirement, like travel. You may even decide to withdraw more money your first year of retirement but scale back once you've lived it up for a while. Your investment mix Your withdrawal rate should also hinge on how your portfolio is allocated. A very conservative portfolio gives you less leeway to take larger withdrawals. A portfolio that's at least 50% stocks may be generating enough income to allow for a 4% withdrawal rate or higher. Your estate planning goals Some people view their nest eggs as money to get them through retirement. They're OK with dying with $0 as long as they don't run out while the...

MattGush/iStock Editorial via Getty Images Amazon ( AMZN ) pushed back on recent media reports that mischaracterized its relationship with the U.S. Postal Service that suggested it was the e-commerce giant that initiated the decision to cut back on deliveries. “The truth is simple,” Amazon said in a post on its website . “We negotiated with [the USPS] in good faith for more than a year to reach a deal that would bring them billions in revenue and believed we were heading toward an agreement.” Instead, Amazon says the USPS “abruptly” pulled out of negotiations in the eleventh hour and introduced the auction concept. In January, USPS began accepting bids to use its last-mile delivery network through an auction process. According to industry data, last-mile delivery is the most expensive part of the shipping process and can account for more than half of the total shipping cost. Through the new auction process, USPS accepted bids from companies specifying the number of packages expected to ship through USPS and the price they are willing to pay. Postmaster General David Steiner believes this is a more accurate measure of what last-mile delivery is worth. Given the advanced stage of negotiations, Amazon ( AMZN ) felt this decision by the USPS to withdraw created significant uncertainty for its long-term network planning. “Despite this, “we participated in good faith and submitted a bid in February 2026. We’ve received no response,” the company added. Last year, the USPS delivered more than a billion packages for Amazon ( AMZN ), representing 15% of all USPS packages delivered, and provided a much needed source of revenue for the struggling agency. To accommodate this volume, the USPS has been building new facilities and investing in automation to handle parcels. Should Amazon ( AMZN ) go elsewhere for last-mile delivery, the USPS risks overinvestment in underutilized facilities at a time when President Trump is pushing to privatize the postal service. More on Amazon Amaz...

英國肯特郡出現，侵入性腦膜炎雙球菌感染群組，累計20宗病例，兩名學生不治。英方認為當地一間夜店是感染源頭，部分病人是肯特大學學生。本港衞生防護中心，正向英國當局查詢情況，包括有否涉及香港留學生。 約有1.8萬名學生的英格蘭肯特大學，是衞生部門的防疫重點之一，近日有大批學生排隊領取抗生素，校方亦啟動接種疫苗計劃，涉及5,000名學生。據報感染侵入性腦膜炎的兩名死者，其中一人是肯特大學21歲學生，另一名是法弗舍姆鎮，女王伊利沙伯文法學校18歲中學生。英格蘭坎特伯雷基督教會大學發聲明，證實該校出現確診個案，校方及衞生部門為患病學生提供援助，並通知跟病人有緊密接觸的人，服用抗生素，以預防患病及切斷傳播鏈。 英方指，這次感染侵入性腦膜炎雙球菌，都是年輕人，部分患者在本月5至7日，曾到訪肯特郡坎特伯雷市，名為Club Chemistry的夜店，當局向逾2,500名在相關日子，曾光顧該夜店人士及密切接觸者，提供預防性的藥物。首相施紀賢認為Club Chemistry，是爆發腦膜炎疫情的主要源頭，又稱衞生專家正追蹤，跟感染者有密切接觸的人，呼籲相關人士，盡快接受預防性抗生素治療。 英國傳媒報道，其中一名患者本來住在肯特郡，卻在倫敦發病，外界憂慮部分學生，準備趁著復活節假期回家，可能讓疫情蔓延開去。另有一名九個月大女嬰，感染致命率較高的，B型腦膜炎雙球菌，目前病情嚴重，在兒童醫院深切治療部留醫，院方未肯定女嬰發病，是否跟夜店群組有關。 腦膜炎雙球菌感染，主要經由直接接觸帶菌者的，呼吸道分泌物，包括口鼻分泌物而傳播。與帶菌者接吻，共用飲料或電子煙等，亦有可能受感染。流行性腦膜炎的病徵，包括發高燒、劇烈頭痛、頸部僵硬等，當細菌入侵血液，或包圍腦部及脊髓內膜，可引致嚴重病症，甚至死亡。 本港衞生防護中心，正向英國當局查詢情況，包括有否涉及香港留學生，又稱今年初至目前，本港錄得3宗有關個案，中心總監指，大學或員工宿舍有較高機會，出現腦膜炎雙球菌的傳播或爆發，並提醒復活節假期，或有留學生返港，如出現相關病徵要盡快求醫，外遊人士應就接種腦膜炎雙球菌疫苗，諮詢醫生專業意見。

格隆汇3月19日｜美联储主席鲍威尔：等待关税传导至整个体系，使商品通胀回落至此前水平。

格隆汇3月19日｜美元指数DXY在美联储决议日站上100，日内涨0.44%。

鲍威尔：利率处于限制性和非限制性的临界点附近。 认为维持轻度的利率限制性具有重要意义。 美联储处于艰难的形势中，需要平衡各种风险。 风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何意见、观点或结论是否符合其特定状况。据此投资，责任自负。

anyaberkut/iStock via Getty Images Compass ( COMP ) has voluntarily dropped a lawsuit against Zillow Group ( Z ) ( ZG ) alleging stifling of competition, according to court records . In June last year, the largest brokerage in the U.S. by volume sued Zillow, alleging that the latter and some of its allies are illegally steering all U.S. home listings to Zillow's platform so it can make money off each home listing "and protect its monopoly." In February this year, Compass was said to have lost a bid to temporarily block a certain portion of Zillow's listing ban policy. COMP shares were trading 4.22% lower at $8.17 on Wednesday afternoon, while Z was 1.59% higher to $45.95 and ZG was +1.32% to $45.65. More on Compass, Zillow Compass: Highly Profitable And Worth Buying Compass, Inc. (COMP) Q4 2025 Earnings Call Transcript Compass, Inc. 2025 Q4 - Results - Earnings Call Presentation Zillow launches additional up to $1.25B share buyback program Compass outlines $400M synergy target and exclusive Rocket Redfin partnership while advancing AI-driven cost reduction

格隆汇3月19日｜美联储主席鲍威尔：政策利率处于中性区间的高端，或略显紧缩。利率目前处于紧缩与不紧缩的边缘。

格隆汇3月19日｜据伊朗迈赫尔通讯社：伊朗对沙特利雅得发动了导弹袭击。

Shares of programmatic advertising software company The Trade Desk (TTD 6.12%) were falling again today, down 6% as of 12:49 p.m. EDT. The Trade Desk stock has been on a wild ride as of late, mostly to the negative. Yesterday, the company received bad news after an industry publication reported that a major advertising agency told clients to avoid the Trade Desk platform. Today, two Wall Street analysts lowered their price targets on the stock as a result. Expand NASDAQ : TTD The Trade Desk Today's Change ( -6.12 %) $ -1.53 Current Price $ 23.54 Key Data Points Market Cap $12B Day's Range $ 23.01 - $ 24.49 52wk Range $ 21.08 - $ 91.45 Volume 890K Avg Vol 17M Gross Margin 78.63 % Publicis throws The Trade Desk under the bus Yesterday, advertising industry publication Ad Age reported that French advertising firm Publicis Group (PUBGY 4.37%) had recently instructed clients to avoid using The Trade Desk's demand-side advertising software. According to the report, a Publicis-funded third-party audit found that the Trade Desk had violated its agreement by overcharging and enrolling clients in additional features without their consent. This bit of news sent The Trade Desk's shares down yesterday, even though neither Publicis nor The Trade Desk confirmed the report. Publicis did not answer a request for comment, and The Trade Desk issued a statement, saying, "We're aware of questions related to a Publicis audit process. Any notion that TTD ⁠failed an audit is not true." Still, the denials didn't prevent sell-side analysts from downgrading shares and lowering target prices today. Analysts at Stifel lowered their rating on TTD shares from "Buy" to "Hold," and lowered the firm's price target to $26 from $48. Stifel analysts noted that Publicis is The Trade Desk's largest client, accounting for over 10% of gross billings. Additionally, sell-side research firm Rosenblatt also downgraded shares to "Hold" and lowered its price target to $25. Rosenblatt noted that the Publicis accu...

Key Points The Trade Desk saw several downgrades today from Wall Street analysts. They follow yesterday's reporting that a major customer advised its clients to avoid using The Trade Desk's software. Despite denials, the report is casting doubt over The Trade Desk's standing with ad agency customers. 10 stocks we like better than The Trade Desk › Shares of programmatic advertising software company The Trade Desk (NASDAQ: TTD) were falling again today, down 6% as of 12:49 p.m. EDT. The Trade Desk stock has been on a wild ride as of late, mostly to the negative. Yesterday, the company received bad news after an industry publication reported that a major advertising agency told clients to avoid the Trade Desk platform. Today, two Wall Street analysts lowered their price targets on the stock as a result. 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 » Publicis throws The Trade Desk under the bus Yesterday, advertising industry publication Ad Age reported that French advertising firm Publicis Group (OTC: PUBGY) had recently instructed clients to avoid using The Trade Desk's demand-side advertising software. According to the report, a Publicis-funded third-party audit found that the Trade Desk had violated its agreement by overcharging and enrolling clients in additional features without their consent. This bit of news sent The Trade Desk's shares down yesterday, even though neither Publicis nor The Trade Desk confirmed the report. Publicis did not answer a request for comment, and The Trade Desk issued a statement, saying, "We're aware of questions related to a Publicis audit process. Any notion that TTD ⁠failed an audit is not true." Still, the denials didn't prevent sell-side analysts from downgrading shares and lowering target prices today. Analysts at Stifel lowered their rating on TTD shares from ...

In the last few years, Chinese AI startup MiniMax has become one of the most exciting in the crowded global AI marketplace, carving out a reputation for delivering frontier-level large language models (LLMs) with open source licenses and before that, high-quality AI video generation models ( Hailuo ). The release of MiniMax M2.7 today — a new proprietary LLM designed to perform well powering AI agents and as the backend to third-party harnesses and tools like Claude Code, Kilo Code and OpenClaw — marks yet a new milestone: Rather than relying solely on human-led fine-tuning, MiniMax has leveraged M2.7 to build, monitor, and optimize its own reinforcement learning harnesses. This move toward recursive self-improvement signals a shift in the industry: a future where the models we use are as much the architects of their progress as they are the products of human research. The model is categorized as a reasoning-only text model that delivers intelligence comparable to other leading systems while maintaining significantly higher cost efficiency. However, with M2.7 being proprietary for now, it is a sign once again that Chinese AI startups — for much of the last year, the standard-bearers in the world of the open source AI frontier , making them appealing for enterprises globally due to low (or no) costs and customization — are shifting strategy and pursuing more proprietary frontier models like U.S. leaders like OpenAI, Google, and Anthropic have been doing for years. MiniMax becomes the second Chinese startup to release a proprietary cutting-edge LLM in recent months following z.ai with its GLM-5 Turbo , and rumors that Alibaba's Qwen team is also shifting to proprietary development in the wake of the departure of senior leadership and other researchers. Technical achievement: The self-evolution loop The defining characteristic of MiniMax M2.7 is its role in its own creation. According to company documentation , earlier versions of the model were used to build a researc...

道琼斯 工业平均指数周三跌破了关键的技术水平，暗示未来可能面临困境。 道指自2025年6月以来首次跌破其200日移动均线。该指标显示一个资产或指数的长期趋势是积极还是消极。 投资者将关注该指数接下来的走势，因为收盘价低于200日移动均线将是道指自2025年6月20日以来的首次。如果交易员不像过去那样介入，则表明该指数可能进一步下跌。 该指数最新交易价略高于该水平。 责任编辑：张俊 SF065

文章提及标的 美元指数 -- 标普500 -- 标普500 -- 道指 -- 纳指 -- 半导体 -- 彭博美元指数涨幅扩大，美联储主席鲍威尔正在讲话。标普500（SPX）指数跌超0.8%，道指（DJI）跌549点、跌幅1.2%，纳指（IXIC）跌0.8%，生物科技指数跌超1.6%，银行指数跌0.2%，半导体（881121）指数涨0.5%。美国两年期国债收益率反弹至3.72%，涨幅重新扩大至将近4.5个基点，鲍威尔称降息取决于通胀进展。

格隆汇3月19日｜美联储主席鲍威尔：石油冲击可被美国强劲的能源生产所抵消。

格隆汇3月19日｜美联储主席鲍威尔：事实上，通胀率高于目标水平已持续五年，会担心某种冲击可能会对通胀预期造成麻烦。我们非常坚定地致力于将通胀预期稳定在2%。

Vanguard Real Estate ETF (NYSEMKT:VNQ) and Xtrackers International Real Estate ETF (NYSEMKT:HAUZ) both target real estate exposure, but differ sharply in regional focus, with VNQ focused on U.S. REITs and HAUZ spanning developed and emerging markets outside the U.S. HAUZ also features a slightly lower expense ratio and a higher yield. Snapshot (cost & size) Metric VNQ HAUZ Issuer Vanguard Xtrackers Expense ratio 0.13% 0.10% 1-yr return (as of March 18, 2026) 1.6% 14.2% Dividend yield 3.6% 4.0% Beta 1.15 0.95 AUM $69.6 billion $1.1 billion Beta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months. While both ETFs feature relatively low expense ratios, HAUZ has slightly lower fees and also offers a higher yield, making it appealing for cost-conscious investors seeking income. Performance & risk comparison Metric VNQ HAUZ Max drawdown (5 y) -34.50% -34.53% Growth of $1,000 over 5 years $1001 $850 What's inside HAUZ offers exposure to more than 400 real estate companies across developed and emerging markets outside the U.S. Its top holdings include Goodman Group (ASX:GMG.AX), Mitsubishi Estate Co. (8802.T), and Mitsui Fudosan Co. (8801.T), with no single name exceeding 4%. VNQ, by contrast, holds around 150 U.S.-listed REITs. Its largest equity positions are Welltower Inc (WELL 0.30%), Prologis Inc (PLD 1.00%), and Equinix Inc (EQIX +0.32%), each representing a larger share of assets than HAUZ's top picks — and together compose nearly 20% of the total portfolio. VNQ provides pure U.S. exposure and also makes larger individual-company bets, while HAUZ can help diversify away from U.S. real estate cycles. For more guidance on ETF investing, check out the full guide at this link. What this means for investors Real estate has had a complicated few years. Rising interest rates punished REITs broadly in 2022 and 2023, and while the sector has shown some recover...

Shares of Li Auto LI have lost 1.7% since the company reported fourth-quarter 2025 results. It reported breakeven earnings, down from the prior-year quarter’s EPS of 45 cents. The figure also missed the Zacks Consensus Estimate of earnings of 5 cents. Revenues of $4.1 billion decreased from $6.1 billion in the year-ago quarter, primarily due to lower vehicle deliveries. The figure missed the Zacks Consensus Estimate of $4.3 billion. Li Auto Inc. Sponsored ADR Price, Consensus and EPS Surprise Li Auto Inc. Sponsored ADR Price, Consensus and EPS Surprise Li Auto Inc. Sponsored ADR price-consensus-eps-surprise-chart | Li Auto Inc. Sponsored ADR Quote Key Tidbits Li Auto delivered a total of 109,194 vehicles in the fourth quarter of 2025, down from 158,696 units delivered in the corresponding quarter of 2024. As of Dec. 31, 2025, the company had 548 retail stores in 159 cities, 561 servicing centers, authorized body and paint shops operating in 224 cities, and 3,907 supercharging stations in operation equipped with 21,651 charging stalls. LI’s vehicle sales in the reported quarter amounted to $3.9 billion compared with $6.1 billion in the year-ago period. The vehicle margin was 16.8%, down from 19.7% in the year-ago quarter, mainly due to changes in product mix. Gross profit for the fourth quarter was $733.7 million, down from $1.2 billion in the corresponding quarter of 2024. Gross margin was 17.8% compared with 20.3% in the prior-year quarter. Operating expenses increased to $797 million from $721.6 million in the corresponding quarter of 2024. Loss from operations amounted to $63.3 million against income from operations of $507.4 million a year ago. Operating margin was negative 1.5% in contrast to a positive 8.4% in the year-ago quarter. Non-GAAP net income for the quarter amounted to $39.2 million, down significantly from $553.4 million in the fourth quarter of 2024. Net cash provided by operating activities amounted to $503.5 million compared with about $1.2 billi...

On February 17, 2026, Redwood Capital Management disclosed a buy of 51,600 Molina Healthcare (NYSE:MOH) shares, an estimated $8.48 million trade based on quarterly average pricing. According to its SEC filing dated February 17, 2026, Redwood Capital Management increased its stake in Molina Healthcare (NYSE:MOH) by 51,600 shares during the fourth quarter. The estimated value of the buy, calculated using the average closing price for the quarter, was $8.48 million. The fund’s position in Molina Healthcare stood at 110,000 shares, with a quarter-end value of $19.09 million. The reported net position change, including price appreciation, was $7.91 million. Molina Healthcare is a leading provider of managed healthcare services, focusing on government-sponsored programs such as Medicaid and Medicare. The company’s strategic emphasis on operational efficiency and tailored health solutions positions it to address the needs of underserved populations in a highly regulated industry. Continue reading

格隆汇3月19日｜美国国土安全部：美国运输安全管理局周二缺勤率在政府停摆持续的情况下小幅降至9.9%。

格隆汇3月19日｜美联储主席鲍威尔：石油冲击的净效应仍将对支出和就业构成下行压力，并推高通胀。

格隆汇3月19日｜美联储主席鲍威尔：石油公司希望看到油价持续上涨，并认为这种涨势将持续，从而增加产量。

格隆汇3月19日｜美联储主席鲍威尔在新闻发布会上首先强调了“强劲”的经济增长态势。他表示：“我们认为当前的货币政策执行程度是恰当的。”他还指出，中东战争对美国经济的影响“尚不确定”。鲍威尔称，消费者支出和企业投资状况良好，但房地产市场却呈现出疲软态势。

Hello and welcome to Regulator, a newsletter for Verge subscribers about the politics of technology and the technology of politics — now landing in your inbox on Wednesdays! If someone has forwarded this email to you, and you’re not a Verge subscriber yet, you should sign up right here, and not just because it would be really, really cool if you do that. We can apparently see how many non-subscribers have opened this email, and why should Palantir get all the “spying on people” fun? Do you have cool events to highlight, tips to toss over, and secrets to spill? Send everything to tina.nguyen+tips@theverge.com. Or, if you’re truly tech-pilled, send me a message on LinkedIn. Surprisingly, artificial intelligence does not take the highest political priority during a war — much less an ill-conceived war with Iran that’s paralyzed the energy markets, destabilized America’s relationships with the Middle East and Europe, and alienated members of President Donald Trump’s diehard MAGA coalition. (Just yesterday, Joe Kent, election denier and onetime Trump-endorsed congressional candidate, announced that he was stepping down as the director of the National Counterterrorism Center in protest of the Iran war.) But the effect it’ll have on the tech and AI industry — and industry in general — is so dire that David Sacks, billionaire and the AI and crypto czar shaping the Trump administration’s tech policies, did something politically risky: He publicly suggested that Donald Trump find some way to get out of the Iran war. Last Friday on his podcast All In, Sacks and his crew laid out several alarmingly realistic scenarios based on recent developments: Iran indicated it was willing to attack oil and gas depots in neighboring countries, destroy desalination plants crucial for supplying water to over 100 million people (which Sacks described as a “humanitarian crisis” that would render the Middle East uninhabitable), and bombard Israel until it either relented or decided to use a nucl...

Justin Sullivan/Getty Images News There is no doubt that Adobe ( ADBE ) is still a high-quality business. But its story is getting harder to trust. After a mild recovery pre-Q1 earnings report, everything went downhill with a still very weak print in terms of its most important KPIs. Data by YCharts In addition to changes in KPI disclosures that I see as potential signs of desperation, continued signs of AI-driven disruption in the core business, and even a less convincing monetization path, I believe that the debate about model erosion is still going strong and dictating the stock to new lows. Here are three reasons why I remain cautious on ADBE, despite a valuation that may already reflect a lot of bad news. Reason Not to Buy #1: Changing the Story Mid-Cycle I wasn't pleased at all with Adobe's attempt to change the way it tells its own story to the market. As I pointed out in my previous work (in which I was skeptical) about Adobe, my argument was simply that the most important part of Adobe's business (Creative Cloud) revolves around the Digital Media segment, and for years, the main metric that translates the efficiency of this segment is total annual recurring revenue (ARR). I believe ARR is arguably the best proxy for quality and predictability of revenue-pricing power, low churn, and upside via upsell. The pre-Q1 chart still showed a segment growing in double digits, but in prolonged decline. And curiously (or not so curiously), the sentiment around Adobe stock was largely a reflection of the percentage growth trajectory (orange line) of Digital Media ARR. Author, Adobe's filings And logically, as the trajectory of the orange line has gone downwards over the last eight quarters, Adobe's market value has gone downwards at the same time. The fact that the management team decided not to give more details about ARR by segment (even if backed with technical arguments), in my view, creates a situation with less clarity, which I see as a negative for investors’ sen...