格隆汇3月19日｜美国1月新屋销售总数年化58.7万户，预期72万户，前值74.5万户。

There are no important events for this country at this time. Select "All" to see top events in other countries or view all events.

19日，世贸组织（WTO）在最新一期《全球贸易展望与统计》报告中表示，2025年关税对贸易造成的总体负面影响小于此前预期。展望2026年，WTO认为，近期关税方面的动态主要体现为策略层面的调整，而非政策层面的根本性转变。WTO经济学家估算，截至今年2月底，全球贸易中基于“最惠国待遇”原则开展的贸易份额已回升至72%。（第一财经）

美国1月新屋销售跌至2022年以来最低点，反映出全美购房者需求的萎缩。 1月新屋销售价格中位数同比下降6.8% 至400,500美元，新屋库存下降4%。 单户新屋销售较12月下降17.6%，折合年率为58.7万套；其中东北部地区销量下降近45%，中西部地区下降约34%。 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。

格隆汇3月19日｜部分油气资源股上涨，Woodside Energy涨超9%，阿帕奇石油涨超6%，道达尔、英国石油涨超3%，戴文能源、西方石油涨超2%。 消息面上，随着当地时间周三以色列对伊朗南帕尔斯气田展开袭击，伊朗伊斯兰革命卫队宣布将中东三国的多处能源设施列为“合法打击目标”。此外，科威特石油公司周四表示，MINA AL-AHMADI炼油厂的一套生产装置当天遭无人机袭击，引发小范围火灾。布伦特原油日内短暂冲高到每桶119美元。(格隆汇)

美以伊战事令刚刚走出加沙战争影响、显现复苏迹象的约旦旅游业再次遭受冲击。 美以打击伊朗之前，在约旦首都安曼，城堡山、古罗马剧场等热门景点一度恢复热闹景象，旅游大巴往来频繁，旅游业显著复苏。但随着美以对伊朗发动军事打击，约旦旅游业复苏势头戛然而止。 此轮冲突给约旦旅游市场带来的负面效应迅速显现，游客预订取消潮席卷而来。据佩特拉发展与旅游区管理局委员会主席阿德南·萨韦尔介绍，受战事影响，世界文化遗产佩特拉古城3月份游客预订取消率达100%，4、5月份的预订取消率已分别达60%和45%，且仍有进一步上升趋势。 约旦酒店协会主席侯赛因·希拉拉特表示，众多国际航班被取消直接影响了游客预订情况。全国许多旅游目的地酒店入住率急剧下降，尤其是高度依赖国际游客的区域，交通、餐饮及导游服务等旅游相关产业均遭受冲击。 约旦旅游和文物大臣伊马德·希贾津近期表示，约旦已启动应急措施，监测旅游预订和航空交通情况，并与行业各方保持密切协调，采取一切必要措施支持该行业。(新华社)

From near-empty dancefloors to sold-out nights at Lisbon’s biggest club, the imprint has spent 15 years championing Afro-Portuguese beats, reshaping the city’s musical identity in the process It’s just after 11.30pm on a Friday in early March, and the air at Lux Frágil is already thick with excitement. Groups of people are streaming in through the Lisbon club’s staircase, past a giant disco ball, and local DJ and producer Xexa is dazzling the crowd with a live set of vocal-sprinkled synthscapes. Soon, the downstairs disco will be heaving with sweaty dancers for scene heroes DJ Marfox, DJ Nervoso and Dariiofox, bodies bumping to the pulse-quickening batida. Come the early hours of Saturday morning, the upstairs floor is bursting at the seams, with partygoers spilling on to the balcony overlooking the River Tejo, as they raise a 15th birthday toast to Príncipe, Portugal’s gamechanging dance music label, which has taken over the world-renowned nightspot for the first time. Continue reading...

Tara Moore/DigitalVision via Getty Images New home sales slid 17.6% M/M to 587K in January, missing the 728K consensus by a wide margin, according to data released by the U.S. Census Bureau on Thursday. Moreover, the December 2025 print was revised down to 712K from 745K. That puts new home sales at the lowest level since October 2022. The rate of single-family new home sales fell 11.3% from January 2025's pace. The seasonally adjusted estimate of new houses for sale at the end of January was 476K, up 0.4% from December and 4.0% below the January 2025 estimate of 496K. That puts inventory at 9.7 months of supply at the current sales rate, up 21.3% from the prior month's and 7.8% above January 2025's level. The median sales price of new houses sold in January 2026 was $400.5K, down 4.5% from December and 6.8% below the year-ago price. The average sales price was $499.5K in January, 5.9% lower than the previous month and 3.6% below the year-ago level, the Census Bureau said . More on the US Economy March FOMC: The Fed's Rate Path Barely Changed, But Its Tone Did Initial jobless claims unexpectedly drop in past week Producer Price Index inflation heats up more than expected in February

Fear, defiance, and anger: Iranians describe life under bombardment toggle caption Atta Kenare/AFP via Getty Images A total telecommunications blackout in Iran means most internet and phone lines remain cut, ever since mass anti-government demonstrations broke out last December. Yet NPR has continued to receive some messages from inside Iran. In them, Iranians describe their fear but also defiance, more than two weeks into a joint U.S. and Israeli military campaign against Iran. "The Islamic Republic, which killed hundreds of thousands of people in Iraq and Syria, killed and tortured hundreds of thousands of Iranians in the most brutal way after all these years, and which now wants to have nuclear weapons: we, the Iranian people, who have lived with them for half a century, know how ridiculous their claim to be peaceful was," said one woman in a series of voice notes to NPR on March 16, explaining why she was angered by images of some Iranians in the diaspora protesting against the joint U.S. and Israeli shelling of her country. Sponsor Message She, like all the Iranians in this story, declined to give her name, because those speaking to foreign journalists can be arrested by Iranian security forces. Other Iranians sent text messages to NPR describing how they have become expert at identifying the roar of fighter jets flying overhead, practiced in enduring the constant peal of sirens and accustomed to the eerie silence following an airstrike. They also describe a network of new security checkpoints across major cities — manned by Iran's Basij militia, a paramilitary volunteer group — designed to intimidate residents and keep them confined to their homes. Tehran residents describe largely deserted streets, roamed mostly by the Basij as well as vigilantes, who are sometimes masked. "I do not leave the house nearly at all and I know most people, especially women, are like this," wrote one woman, a 49-year-old fashion designer, on March 17. "Here in my neighborhood, [th...

美国总统特朗普表示，以色列将不再攻击伊朗的天然气基础设施，此前以色列“猛烈打击”了全球最大天然气田的一处处理设施。据特朗普在社交媒体发帖警告称，如果伊朗再次报复，以色列可能再次发动打击。 以色列本周袭击了伊朗称之为南帕尔斯、与卡塔尔共享（卡方称之为北方气田）的气田。作为回应，伊朗要求邻国撤离部分石油和天然气设施，随后进行了报复性打击，包括针对卡塔尔能源公司的液化天然气枢纽拉斯拉凡。 卡塔尔报告称该设施遭到“大面积损坏”。与此同时，沙特阿拉伯报告称其拦截了射向利雅得的四枚弹道导弹。阿联酋表示，由于导弹相关事件和碎片，已暂停一个天然气设施的运营。 作为最新军事交锋的结果，石油和天然气价格上涨，截至本文撰写时，布伦特原油交易价格为每桶112.34美元，西德克萨斯中质原油为每桶97.62美元。美国天然气价格上涨超过3%，至每百万英热单位3.17美元。 “以色列对中东发生的事情感到愤怒，猛烈打击了伊朗一个名为南帕尔斯气田的主要设施，”特朗普总统在X平台上发帖称。“不幸的是，伊朗不了解这一点，也不了解与南帕尔斯袭击相关的任何事实，无理且不公平地攻击了卡塔尔液化天然气设施的一部分。” “以色列不会再对这个极其重要和宝贵的南帕尔斯气田发动攻击，除非伊朗不明智地决定攻击一个与此事无关的卡塔尔，”美国总统还写道，接着威胁要“以伊朗前所未见的强大力量，大规模炸毁整个南帕尔斯气田。” 责任编辑：张俊 SF065

Today’s Date: March 19, 2026 Introduction Micron Technology, Inc. (NASDAQ: MU) has undergone one of the most significant architectural shifts in the history of the semiconductor industry. Long perceived as a cyclical commodity manufacturer of memory chips, Micron has emerged in early 2026 as a linchpin of the global Artificial Intelligence (AI) infrastructure. As generative AI models grow in complexity—demanding massive throughput and energy efficiency—the "memory wall" has become the primary bottleneck for compute. Micron’s transition from a follower to a technological leader in High-Bandwidth Memory (HBM) has placed it at the center of the AI "supercycle," driving its valuation to unprecedented heights and making it a focal point for institutional and retail investors alike. Historical Background Founded in 1978 in the unlikely setting of a basement in Boise, Idaho, Micron began as a small semiconductor design consulting firm. By 1981, it had moved into manufacturing with its first wafer fabrication plant. The company’s history is defined by its resilience in a notoriously brutal industry. During the 1980s and 90s, dozens of American memory makers were wiped out by Japanese and later South Korean competition. Micron survived through aggressive cost-cutting, strategic acquisitions (notably the 2013 purchase of Elpida Memory), and a relentless focus on engineering. Over the decades, it evolved from a diversified electronics firm into a pure-play memory and storage giant. The appointment of Sanjay Mehrotra as CEO in 2017 marked a pivotal shift, moving the company away from sheer volume toward high-margin, specialized memory solutions—a strategy that laid the groundwork for its current dominance in AI memory. Business Model Micron’s business model revolves around two primary technologies: DRAM (Dynamic Random Access Memory) and NAND Flash. DRAM: Accounting for approximately 70-75% of revenue, DRAM is the "short-term memory" used in everything from smartphones to AI se...

Nobody gave the Boers a prayer when the war in South Africa began in 1899. It was farmers ranged against the might of the British empire, and the expectation was that resistance would quickly crumble. Eventually, might did prevail. Britain won the Boer war, but it was a hollow victory that took the best part of three years to achieve and came at a high cost. The blow to British prestige – coming at a time when its global hegemony was under threat from fast-growing countries such as the US – was severe. Far from highlighting the extent of Britain’s power, it exposed its limitations. A century and a quarter later, the US risks being embroiled in its equivalent of the Boer war. What should have been a walkover threatens to become a prolonged conflict. The Iranians are using guerrilla tactics, just as the Boers did, with much success. There is little doubt that, in the end, superior US and Israeli firepower will prevail, but at what price? The oil market tells its own story. The war in Iran has spilled over into the wider Middle East and shows no sign of ending anytime soon. Fears of a global recession are growing – and they are justified. Oil and gas facilities in the Gulf states have been hit by Iranian missiles. Tankers are unable to pass through the strait of Hormuz. The price of a barrel of Brent crude has risen by 50% since hostilities began. Gas prices are up by a similar amount. We have been here before. The long postwar boom was brought to an end by the quadrupling of oil prices that followed the Yom Kippur war in 1973, and every subsequent sustained surge in the cost of crude has had serious knock-on effects. The pattern is clear. The initial impact of rising energy prices is on inflation, with the hit to growth coming later. Ultimately, oil shocks cause recessions. View image in fullscreen An illustration of British troops crossing the Sand River, South Africa, in the Boer war, by Frank Feller (1848-1908). Photograph: Dea Picture Library/De Agostini/Getty Ima...

Asylum seekers who arrived in the UK in small boats and were forcibly returned to France under the controversial “one in, one out” deal have returned to the UK in lorries, the Guardian has learned. When asked about the recent returnees, the Home Office said that people who came back to the UK after removal to France were detained and returned to France at the earliest opportunity. Amnesty International UK has called for “one in, one out” to be scrapped. The Guardian is aware of at least four returnees who travelled back to the UK by lorry in the last two weeks. Two, who came in separate lorries on 5 March and 7 March, are now back in a detention centre. Both said they were returned forcibly to the UK by smugglers who want to try to break the “one in, one out” scheme, which involves one person who crosses the Channel in a small boat being sent back to France in exchange for another in northern France being brought to the UK legally. The other two “one in, one out” returnees came in a lorry on 12 March as part of a larger group whose backgrounds are not known. They are understood to currently be in London living under the radar. Prior to 2018, lorries were the primary way asylum seekers crossed the Channel. They generally went to a police station on arrival and informed the authorities that they wanted to claim asylum. When security in northern France was stepped up to prevent people boarding lorries, smugglers offered small boats as an alternative route. Home Office officials take biometrics and interview all small boat arrivals. Asylum seekers have said that lorries are increasingly being offered by smugglers as an alternative to small boat crossings, although the numbers of the latter remain high. The price for a lorry crossing is three or four times the cost of a dinghy crossing, according to asylum seekers. One of the two men currently back in detention spoke to the Guardian this week after being detained for a second time. He said he was caught by police inside ...

The Oscars were this week, and as usual I took the day off to judge the red carpet looks from my tracksuit pants-ed position on the couch, pick apart the monologue (love you Conan), declare I could write better presenter segments, and keep an eye on social media to see which stars cause the most buzz. This year, I noticed something interesting: in a room full of classically handsome stars such as Chris Evans and Michael B Jordan, as well as newly minted hotties like Heated Rivalry’s Hudson Williams, I was reading many appreciative and deeply thirsty tweets about … bald 75-year-old Ed Harris. There was a focus on Ed because his wife, Amy Madigan, won an Oscar and his reaction was lovely, but a lot of what I saw was about how hot he looked. He has, of course, been handsome forever, sporting sharp cheekbones and piercing blue eyes. He has also been at some stage of balding for his entire career, something that has never once stopped him being considered sexy. The Ed praise brought to mind the discourse around male hair loss, something I have been thinking about for a while. I am not a man, I am not a balding man, and I am not romantically interested in men. I have a complicated relationship with many straight men, because they have a complicated relationship to me being a fat woman. However, it doesn’t stop me observing society and heterosexuality and, like in an Unlikely Animal Friends situation, I have something unexpectedly nice to say to straight men: I like your balding heads. And I think we should be bringing sexy balding back. I have documented my perplexity around the heterosexual need for men to be tall in order to be desirable, and I feel much the same about the hair. I know there are ways society treats people badly due to lack of hair, and I’m sure it changes how you look at yourself, but ageing is inevitable, and the majority of men are going to experience some hair loss. Of course, not all of them are going to look like the handsome actor Ed Harris when t...

An extended period of high oil prices as a result of war in the Middle East could “crimp” the AI boom, the World Trade Organization’s chief economist has warned. The war and its impact on energy and fertiliser costs is the main risk to the global economy identified in the WTO’s latest Global Trade Outlook. But the Geneva-based body also raised a question mark about the continued strength of AI investment, which in 2025 helped to offset the hit to global trade from Donald Trump’s tariffs. “There is an interesting possible interaction between the Middle East conflict and the AI boom, in part because the boom is very energy-intensive,” said the WTO’s chief economist, Robert Staiger. “If the price of energy continues to be elevated for the whole year, that could put a crimp on the AI boom.” He added: “Because that investment is very concentrated in a number of very large firms, and the technology is still ultimately unproven in terms of how much it can deliver, there is a bit of uncertainty there in terms of where the future’s going.” Underling the importance of the sector, the WTO calculated that in the first three quarters of last year, about 70% of all investment growth in North America was accounted for by AI-related goods. By comparison, in the three years before the catastrophic US housing crash of 2008, property made up 30% of investment growth. Despite Trump’s protectionist policies, which raised US tariffs on many goods to their highest level in decades, world trade in goods expanded by a robust 4.6% in 2025, the WTO said – helped by a strong export performance from Asian economies. Even without a prolonged energy shock, it expects the growth rate of global goods trade to slow sharply this year, to 1.9%. But the WTO suggested that a year-long period of high energy prices would knock an additional 0.5% off goods trade growth, and jeopardise food security. “Risks to the forecast are tilted to the downside, and are mostly linked to the conflict in the Middle East ...

Ian Lyngen, head of US rates strategy at BMO Capital Markets, says lower rates remains his base case for US Treasuries, while the 2-Year sector will “continue to struggle.” (Source: Bloomberg)

Leia em português Alliança Saúde e Participações SA said it is seeking temporary court protection in Brazil and starting mediation talks with creditors as it struggles to meet upcoming debt payments. The court action — known as a precautionary measure — and mediation will help the health-care company continue operating normally as talks progress, according to a filing with regulators on Thursday. Fitch Ratings downgraded Alliança’s local ratings to CCC+ from A on March 13, warning of about 155 million reais in principal and interest payments on local debt maturing in April and October. Cash as of September 2025 was insufficient to cover these near-term obligations, Fitch said. “The company will continue to implement measures aimed at strengthening its financial and operational structure, focusing on enhancing efficiency, optimizing its capital structure and reinforcing its long-term financial sustainability,” the filing reads. Alliança does not have global bonds, and its debt is denominated in local currency, known as debentures. The move comes as Brazilian companies continue to grab the attention of credit investors after two major firms announced plans last week to restructure a combined $13.5 billion of debt outside of court. Meanwhile, the string of high-profile corporate busts and global market volatility is forcing some Brazilian borrowers to scale back and delay new deals. Read more: A New Phase of Brazil’s Corporate Debt Drama Unfolds: The Brink Fitch has also said it does not expect the company to generate positive free cash flow this year.

美国2月谘商会领先指标环比 -0.1%，预期 -0.1%，前值 -0.2%。 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。

Sheinbaum wrote that the sporting event - being hosted jointly by Mexico with the US and Canada - would provide "a timely opportunity to evoke the depth and unique character of the ties between Mexico and Spain", the Casa Real said.

For decades, the US security umbrella was the bedrock underpinning the Gulf states’ prosperity and stability. Today, Iranian missiles and drones have paralysed the Strait of Hormuz and hit civilian airports, ports, hotels and refineries across every Gulf country, despite thousands of American troops and advanced interceptors on the ground. The armed conflict has forced the region to confront a stark new reality. Advertisement A Chinese scholar argued that the US-Israel war on Iran and ensuing Hormuz crisis had “severely damaged” the America-centred security foundation of the Gulf’s economic model, with its states bearing the price of over-reliance on a protector who failed to shield them. In a March 14 article on the China-US Focus website, Jin Liangxiang, a senior fellow at the Shanghai Institutes for International Studies, described the American-Israeli strikes on Iran and Iran’s retaliation as among “the most destructive events in the region’s modern history”. Advertisement Jin said attacks on US bases and civilian infrastructure, along with the major disruption of Gulf shipping lanes, had produced a humanitarian catastrophe and systemic security shock for the GCC economies, eroding confidence in America’s security guarantee. The GCC, or Gulf Cooperation Council, is a regional alliance of six Gulf states: Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Bahrain and Oman.

U.S. equities came under renewed pressure on Thursday morning, with the S&P 500 ( SP500 ) falling 0.8% at the open to trade near 6,570, slipping below its closely watched 200-day moving average for the first time in 10 months. The breach marks a notable technical shift, as the index has not closed beneath this level since May 9, 2025, and had only briefly dipped below it on an intraday basis back on May 23, 2025. The decline follows a sharp rise in Treasury yields across the curve, driven by the Federal Reserve’s decision on Wednesday to hold interest rates steady, reinforcing a higher-for-longer policy outlook. During Thursday’s session, the S&P 500 also touched an intraday low of 6,557.82, its weakest level since November 21, signaling mounting downside momentum in the broader market. Outlined below are the S&P 500’s 20 worst performing stocks in 2026: Trade Desk ( TTD ), -36.9% YTD. AppLovin ( APP ), -36.7% YTD. Workday ( WDAY ), -36.4% YTD. CoStar Group ( CSGP ), -35.4% YTD. Robinhood ( HOOD ), -35.4% YTD. Gartner ( IT ), -35.1% YTD. Ares Management ( ARES ), -34.4% YTD. Carvana ( CVNA ), -33.5% YTD. Paramount Skydance ( PSKY ), -33.3% YTD. Humana ( HUM ), -32.6% YTD. EPAM Systems ( EPAM ), -31.7% YTD. Fair Isaac ( FICO ), -30.8% YTD. GoDaddy ( GDDY ), -30.5% YTD. Intuit ( INTU ), -29.6% YTD. KKR ( KKR ), -29.1% YTD. Adobe ( ADBE ), -28.5% YTD. FactSet ( FDS ), -27.5% YTD. DoorDash ( DASH ), -27.2% YTD. Blackstone ( BX ), -27.0% YTD. Capital One ( COF ), -26.1% YTD. S&P 500 ETFs: ( SPY ), ( VOO ), ( IVV ), ( RSP ), ( SSO ), ( UPRO ), ( SH ), ( SDS ), ( SPXU ), ( FXAIX ), ( VFIAX ), ( VFFSX ), and ( SWPPX ). More on markets US2Y climbs to a 7-month high as the Fed dampens rate cut expectations UK Gilt yields skyrocket on BOE pause, U.S. Treasuries follow as rate cut hopes fade Recessions are becoming less frequent as sector credit cycles take center stage, Apollo says 15 dividend stocks offering a 4% yield and double-digit returns in 2026 S&P 500’s 15 most overso...

Image source: The Motley Fool. Thursday, March 19, 2026 at 8:30 a.m. ET Call participants Chief Executive Officer — Sean Nolan President and Head of R&D — Sukumar Nagendran Chief Financial Officer — Kamran Alam Need a quote from a Motley Fool analyst? Email [email protected] Takeaways REVEAL Phase 1/2 response rate -- 100% response rate in ten patients treated with TSHA‑102, across both low- and high-dose cohorts, as reported in Part A of the trial. -- 100% response rate in ten patients treated with TSHA‑102, across both low- and high-dose cohorts, as reported in Part A of the trial. Six-month high-dose response -- 83% response rate observed at six months, with five out of six high-dose patients gaining or regaining one or more developmental milestones. -- 83% response rate observed at six months, with five out of six high-dose patients gaining or regaining one or more developmental milestones. Average milestone gains -- Approximately nineteen developmental gains per patient, as captured by validated clinical assessments in Part A. -- Approximately nineteen developmental gains per patient, as captured by validated clinical assessments in Part A. FDA regulatory alignment -- Written FDA alignment obtained on both REVEAL pivotal and ASPIRE trial designs, enabling a potentially streamlined BLA submission pathway. -- Written FDA alignment obtained on both REVEAL pivotal and ASPIRE trial designs, enabling a potentially streamlined BLA submission pathway. Breakthrough therapy designation -- TSHA‑102 received this designation from the FDA during the reporting period. -- TSHA‑102 received this designation from the FDA during the reporting period. First patient dosed in pivotal trial -- Pivotal REVEAL trial initiated and first patient dosed; enrollment is advancing across multiple sites, with dosing completion targeted for 2026. -- Pivotal REVEAL trial initiated and first patient dosed; enrollment is advancing across multiple sites, with dosing completion targeted for 2026. A...

世界贸易组织（WTO）：在充斥能源风险之际，2026年（全球）商品贸易恐怕将急剧下滑。 预计2026年商品贸易将增长1.9%，而2025年增长了4.6%。 虽然仍然面临（美国总统特朗普挑起的）贸易风险，但人工智能（AI）赋能的商品保持上行潜质。 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。

Welcome to the Brussels Edition. I’m Suzanne Lynch, Bloomberg’s Brussels bureau chief, bringing you the latest from the EU each weekday. Make sure you’re signed up . EU leaders meeting in Brussels today have a clear message for Donald Trump: we won’t be dragged into the war in the Middle East. Europeans “will not let themselves be blackmailed,” said Austrian Chancellor Christian Stocker, referring to the US call for help with securing the Strait of Hormuz. Leaders arriving for the summit stepped-up criticism of Trump’s Iran war. “Member states do not have an appetite to go to this war,” EU High Representative Kaja Kallas said. “We did not want this war,” said Belgium’s Bart De Wever. “We lack planning for the war, an exit strategy that does not seem to be there.” Despite pushback against what Slovenian leader Robert Golob described as a “pointless war,” EU leaders are preoccupied by its potential spillover effects, from migration to energy. Looming over today’s discussion is last night’s attack on the world’s largest LNG facility, which has sent energy prices soaring. Benchmark gas futures rose as much as 35% today while oil climbed past $117 a barrel. While energy prices in Europe have not reached the levels that were seen in 2022 in the wake of Russia’s full-scale invasion of Ukraine, Brussels is scrambling to find some short-term solutions to the current problem. European Commission chief Ursula von der Leyen set out some options in a letter to leaders earlier this week, including tackling changes to the grid and examining taxes. But it’s a discussion on the Emissions Trading System, the cornerstone of the EU’s energy policy, that’s likely to dominate debate this evening. Several leaders set out their stall ahead of a planned revision of the ETS in July. Finnish Prime Minister Petteri Orpo urged the EU to continue decarbonization, noting that his country had already invested billions in clean energy production. French President Emmanuel Macron said the ETS had to...

美国1月新屋销售 58.7万户，预期 72.2万户，前值 74.5万户。 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。

美国1月新屋销售环比 -17.6%，预期 -2.7%，前值 -1.7%。 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。

美国1月批发库存环比终值 -0.5%，预期 0.2%，初值 0.2%。 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。

An ambitious satellite builder will launch one of the highest-powered spacecraft ever built in the weeks ahead to demonstrate technology that will be required to build data centers in orbit. K2, founded by brothers and former SpaceX engineers Karan and Neel Kunjur in 2022, has packed its satellite Gravitas into a SpaceX Falcon 9 rocket expected to launch as soon as the end of this month. Gravitas has a mass of two metric tons, with a 40 meter wingspan when its solar panels are unfolded. The point of the big satellite is big power: Gravitas is capable of producing 20 kW of electricity for use by payloads like powerful sensors, transceivers and computers. For comparison, the even larger and more expensive ViaSat-3 spacecraft can generate more than 25 kW of power, while Starlink V2 satellites have been estimated at generating 28 kW. But most spacecraft generate just a handful of kilowatts. “The future is higher power,” CEO Karan Kunjur explains. K2 has raised $425 million to make that vision a reality and was valued at $3 billion by its investors in December 2025. This launch will be the company’s first step into real space operations—and what Kunjur calls “the start of our iterative journey.” The Gravitas mission will fly 12 undisclosed payload modules from several customers, including the Department of Defense, as well as a 20 kW electric thruster that the company expects will be the most powerful ever flown in space. Kunjur said the demonstration will be evaluated across several tiers of success—first, can K2 get the spacecraft deployed and generating power? Second, can it start running its payloads, and test its powerful thruster? And if that goes well, can it use the thruster to raise the spacecraft thousands of kilometers into a higher orbit? Kunjur is aware that launching a new spacecraft isn’t easy—85% of its components have been designed and built in-house—and that markets are quick to judge anomalies. What’s most important, he says, will be maximizing data co...

The stakes are high for any founding team, so conflict should be expected, even encouraged. However, company culture is built on real reactions and interactions, not the values you put on the wall. If team members see co-founders or the leadership team getting heated and falling into unproductive fighting, that doesn’t set a respectful, growth-minded tone. Luckily, it’s possible to repair this dynamic and do the work to learn how to navigate conflict in a healthy way. Ian Schmidt is a strategic adviser at Trimergence, a consultancy that coaches leaders to become more effective from the inside out. On a recent episode of Build Mode, Schmidt discussed how founders and teams need to update their personal operating systems. “Businesses have a human operating system, and that human operating system needs an upgrade process over time, just like the product does and your go-to-market strategy,” Schmidt said. “So we work with leaders and teams to map their operating system, how they think, how they manage conflict, how they do decision-making, and really provide them with what we call a noise-reduction algorithm.” In practice, that means that founders can create frameworks for working through conflict and change when the team is just two or three people, and if done correctly, it can scale with the company. Schmidt offered a framework that any founder, leader, or even team member can implement when conflict arises: Pause and do an “internal 360” on what just happened When a conflict doesn’t go well, it’s crucial to take stock of the conversation and own your part in it. Maybe you lashed out, escalated the conflict, or otherwise created a bad moment in front of the team. Don’t try to rush a solution, take a second to self-audit, name what happened, and try to imagine how it may have impacted others. Connect this incident to a pattern When conflicts get heated, it’s very rarely a one-off issue. Take the time to see the pattern in this behavior. “How does this relate to someth...

For more than a decade, Alphabet’s X moonshot factory has been quietly trying to fix one of the world’s most stubborn industries. It failed twice, but this time the industry itself is along for the ride. On Thursday, X said that Anori, its platform for streamlining the notoriously tangled process of getting buildings approved and built, has spun out as an independent company with $26 million in funding. The round was led by Prologis, one of the world’s largest real estate owners, and Builders VC, a firm focused on construction technology. X’s dedicated spin-out vehicle, Series X Capital, also participated in the fundraise, which Astro Teller, the head of X, described as “not a particularly small deal.” Anori is X’s first spinout this year, and comes a year after Taara, a wireless optical communications company. Previous X alumni include self-driving startup Waymo, and Wing, which delivers Walmart packages by drone in a partnership that the two companies plan to expand to 150 cities this year. Teller says Anori is targeting the layer that comes before any of design and modeling: The two to four years between when a developer decides to build something and when the first shovel hits the dirt. That window, “pre-development” in industry parlance, is where projects go to bleed money and sometimes die. “There’s the people who build the building, the people who design it, the structural engineers, the soil engineers, the people who will operate it afterwards, the people who will insure it, the people who produce the money,” Teller said. “All of those people, in a sense, are in a ring trying to talk to each other, but there’s also the state, city, and country-level rules about what you can build. So there’s a secondary ring that has to include those, too.” Today, all of those parties work sequentially. If an architect changes the design, everyone will retreat to their corners, recalculate and reconvene — sometimes months later. Then the whole package goes to the city, which...