undefined China’s migrant workforce is aging as more workers move into lower-paying service jobs, putting pressure on income growth amid a shifting economic landscape. The number of migrant workers topped 301 million in 2025, up 1.42 million from the previous year, though growth slowed to 0.5%, according to the National Bureau of Statistics. The average age rose slightly to 43.3, the highest since...
undefined China’s migrant workforce is aging as more workers move into lower-paying service jobs, putting pressure on income growth amid a shifting economic landscape. The number of migrant workers topped 301 million in 2025, up 1.42 million from the previous year, though growth slowed to 0.5%, according to the National Bureau of Statistics. The average age rose slightly to 43.3, the highest since records began in 2008, with those over 50 accounting for a record 32%. China’s Rural Migrant Workers Keep Aging The shift comes as weaker demand in traditional job engines such as construction persists, with property and infrastructure investment subdued. The share of migrant workers in construction fell to 13.8%, matching a record low and down 5.2 percentage points from 2021.
(RTTNews) - Frasers Logistics & Commercial Trust (BUOU.SI) reported first half distributable Income of S$112.0 million compared to S$113.0 million, down 1.0% from last year. Distribution per unit, in Singapore cents, was 2.95 compared to 3.00. Adjusted Net Property Income was S$1
(RTTNews) - Frasers Logistics & Commercial Trust (BUOU.SI) reported first half distributable Income of S$112.0 million compared to S$113.0 million, down 1.0% from last year. Distribution per unit, in Singapore cents, was 2.95 compared to 3.00. Adjusted Net Property Income was S$1
ADTRAN press release ( ADTN ): Q1 Non-GAAP EPS of $0.14 beats by $0.05 . Revenue of $286.1M (+15.5% Y/Y) beats by $0.56M . Non-GAAP gross margin of 43.0%; up 108 and 55 basis points year-over-year, respectively. Non-GAAP operating margin of 6.9%. Net cash provided by operating activities of $12.7 million. Business outlook 1 For the second quarter of 2026, the Company expects revenue to be within a...
ADTRAN press release ( ADTN ): Q1 Non-GAAP EPS of $0.14 beats by $0.05 . Revenue of $286.1M (+15.5% Y/Y) beats by $0.56M . Non-GAAP gross margin of 43.0%; up 108 and 55 basis points year-over-year, respectively. Non-GAAP operating margin of 6.9%. Net cash provided by operating activities of $12.7 million. Business outlook 1 For the second quarter of 2026, the Company expects revenue to be within a range of $283.0 million to $303.0 million vs. consensus of $293.04M . Non-GAAP operating margin is expected to be within a range of 5.0% to 9.0%. More on ADTRAN ADTRAN Holdings, Inc. (ADTN) Q4 2025 Earnings Call Transcript ADTRAN Holdings, Inc. 2025 Q4 - Results - Earnings Call Presentation ADTRAN Q1 2026 Earnings Preview Adtran outlines $275M-$295M Q1 2026 revenue target as fiber and optical momentum continues Seeking Alpha’s Quant Rating on ADTRAN
Fuminori Arita once farmed iyokan, a Japanese citrus variety, but about 10 years ago he switched to growing avocados, revelling in the challenge of producing crops of what he describes as a “sensitive and difficult to grow” fruit. The 67-year-old is symbolic of efforts by the western Japanese city of Matsuyama in Ehime prefecture, long known primarily for citrus cultivation, to shift more to avoca...
Fuminori Arita once farmed iyokan, a Japanese citrus variety, but about 10 years ago he switched to growing avocados, revelling in the challenge of producing crops of what he describes as a “sensitive and difficult to grow” fruit. The 67-year-old is symbolic of efforts by the western Japanese city of Matsuyama in Ehime prefecture, long known primarily for citrus cultivation, to shift more to avocados, partly as a strategy to adapt to rising temperatures amid climate change. Given the challenge...
HSBC Holdings press release ( HSBC ): Q1 Non-GAAP EPS of $0.44 misses by $1.72 . Revenue of $18.62B (+5.5% Y/Y) beats by $80M . Reported profit before tax of $9.4bn decreased by $0.1bn compared with 1Q25. Profit after tax of $7.4bn was $0.2bn lower than in 1Q25. Annualised return on average tangible equity (‘RoTE‘) in 1Q26 was 17.3%, compared with 17.9% in 1Q25. Excluding notable items, annualised...
HSBC Holdings press release ( HSBC ): Q1 Non-GAAP EPS of $0.44 misses by $1.72 . Revenue of $18.62B (+5.5% Y/Y) beats by $80M . Reported profit before tax of $9.4bn decreased by $0.1bn compared with 1Q25. Profit after tax of $7.4bn was $0.2bn lower than in 1Q25. Annualised return on average tangible equity (‘RoTE‘) in 1Q26 was 17.3%, compared with 17.9% in 1Q25. Excluding notable items, annualised RoTE in 1Q26 was 18.7%. Net interest income (‘NII‘) of $8.9bn increased by $0.6bn or 8% compared with 1Q25. Net interest margin (‘NIM’) of 1.60% was 1 basis points (‘bps‘) higher compared with 1Q25. Common equity tier 1 (‘CET1’) capital ratio of 14.0% decreased by 0.9 percentage points compared with 4Q25. The Board has approved a first interim dividend for 2026 of $0.10 per share. Outlook: " We retain all of the Group financial targets we announced at our full year 2025 annual results in February 2026, including a RoTE of 17% or better for 2026, 2027 and 2028, excluding notable items. We now expect banking NII of around $46bn in 2026. We now expect an ECL charge as a percentage of average gross loans to be around 45bps. We continue to target growth in target basis operating expenses of approximately 1% compared with 2025. We intend to continue to manage the CET1 capital ratio within our medium-term target range of 14%–14.5%. We could expect a mid-to-high single digit percentage adverse impact on profit before tax, which if unmitigated, could bring RoTE excluding notable items below our 17% or better target in 2026. " More on HSBC Holdings HSBC Holdings plc (HSBC) Presents at European Financials Conference 2026 Transcript HSBC Remains A 'Hold' Following Its 2025 Earnings HSBC Holdings plc (HSBC) Q4 2025 Earnings Call Transcript HSBC reviews $38,000 per-child school fee benefit for Hong Kong bankers: report HSBC launches tokenized deposit service in U.S.
Indonesia’s economic growth accelerated in the first three months of the year to the fastest pace since the third quarter of 2022, displaying resilience even as the prolonged war in Iran begins to weigh on global growth. Gross domestic product rose 5.61% in the January-March period from a year earlier, the statistics agency said on Tuesday. That beat both the 5.4% median estimate in a Bloomberg su...
Indonesia’s economic growth accelerated in the first three months of the year to the fastest pace since the third quarter of 2022, displaying resilience even as the prolonged war in Iran begins to weigh on global growth. Gross domestic product rose 5.61% in the January-March period from a year earlier, the statistics agency said on Tuesday. That beat both the 5.4% median estimate in a Bloomberg survey of economists and the 5.39% growth print in the final quarter of 2025. Southeast Asia’s largest economy was largely supported by domestic demand as households ramped up spending during the Eid holidays, helped by seasonal bonuses and fiscal stimulus. Household consumption, which accounts for more than half of GDP, grew 5.52% in the first quarter — that’s the fastest pace since 2022, according to data compiled by Bloomberg. Measures such as spending at restaurants and hotels, and electronic payments strengthened in the quarter, statistics chief Amalia Adininggar Widyasanti said in a briefing, noting that agricultural production, manufacturing, and domestic and foreign investment continued to grow. Government expenditure increased by 22% as authorities pushed to disburse spending more evenly throughout the year, though investment and exports growth slowed from the previous quarter. On the production side, all industries grew last quarter except mining, she said. The manufacturing, trade, agriculture, construction, and mining sectors remained the largest overall contributors, accounting for more than 60% of Indonesia’s economy. Robust domestic activity has helped keep Indonesia relatively insulated as hostilities in the Middle East have stalled the flow of key commodities like fuel and fertilizer. Singapore and Malaysia both reported slower-than-expected growth last quarter, while Thailand slashed its growth target for this year due to the spike in energy costs. As a net energy exporter, Indonesia benefits from higher commodity prices. The government’s generous energy sub...
Dado Ruvic | Reuters Europe's largest lender HSBC on Tuesday reported first-quarter pre-tax profit of $9.4 billion, marginally missing analysts' estimates on the back of larger-than-expected credit losses and other impairment charges. HSBC's revenue gained 6%, year on year, exceeding estimates. Here are HSBC's first-quarter results compared with the consensus estimates compiled by the bank. Pre-ta...
Dado Ruvic | Reuters Europe's largest lender HSBC on Tuesday reported first-quarter pre-tax profit of $9.4 billion, marginally missing analysts' estimates on the back of larger-than-expected credit losses and other impairment charges. HSBC's revenue gained 6%, year on year, exceeding estimates. Here are HSBC's first-quarter results compared with the consensus estimates compiled by the bank. Pre-tax profit: $9.4 billion vs. $9.59 billion Revenue: $18.6 billion vs. $18.49 billion The lender's first-quarter profit before tax fell to $9.4 billion, down from $9.5 billion a year earlier. "We remain on track to have taken actions to deliver our $1.5bn annualised cost reduction by the end of June 2026," the bank said in its statement. "Through the privatisation of Hang Seng Bank, we expect to realise $0.5bn in pre-tax revenue and cost synergies across both our brands in Hong Kong by the end of 2028." HSBC completed the privatization of Hang Seng Bank on Jan. 26, with the latter's shares subsequently delisted from the Hong Kong Stock Exchange. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
imaginima/iStock via Getty Images Rating Upgrade I am upgrading FinVolution ( FINV ) to a "cautious buy" following more clarity of the effects that the 2025 regulations carried that drove down the stock price significantly. Historically, I've been generally positive on the company, as noted by my theses back in June 2025 and January 2026 , given its competitiveness from being an early adopter of i...
imaginima/iStock via Getty Images Rating Upgrade I am upgrading FinVolution ( FINV ) to a "cautious buy" following more clarity of the effects that the 2025 regulations carried that drove down the stock price significantly. Historically, I've been generally positive on the company, as noted by my theses back in June 2025 and January 2026 , given its competitiveness from being an early adopter of international expansion and strong credit profiles domestically. The stock performance did not reflect my sentiment given the weights of the regulatory headwinds, marking a profound need for change for the business that historically relied strongly on the China market. This drove my delayed downgrade back in January 2026 to a "hold". Now, the regulatory uncertainties have likely normalized while the business continues to aggressively grow its international revenue via organic and acquisition-driven methods. Against attractive valuations, I am making my upgrade. 4Q25 Results FINV released its FY25 results in March. QoQ decline of outstanding loans continued since mid-2025 amid regulatory uncertainties. Loan facilitation service fees reached CNY849 million in 4Q25, down from 1.3 billion a year ago. Overall revenue reached CNY3 billion, down from 3.5 billion. Operating income had been hit harder, reaching CNY483 million, down by 39% due to heightened costs from provisions, originations, and presumably collections. Operating Metrics FINV IR, author's compilation On regulatory factors, creditor protections have weakened for loans exceeding the 24% cap domestically. As for technicals, on-balance sheet lending continued to grow aggressively in 2025, likely for both international and domestic markets. Labor dynamics in the international emerging markets are generally volatile, characterized by large underemployments. Delinquency and collection rates overall deteriorated in 4Q25, coinciding with the large spike in the size of the international unique borrower base, reaching 5.9 milli...
Donny DBM/iStock via Getty Images The following segment was excerpted from the Carillon Chartwell Small Cap Growth Fund Q1 2026 Commentary. We have been pleased with the Fund's performance in the fourth quarter and for the full year. We encourage everyone to review specific performance figures at the Carillon Chartwell Small Cap Growth Fund website. The information technology sector delivered some...
Donny DBM/iStock via Getty Images The following segment was excerpted from the Carillon Chartwell Small Cap Growth Fund Q1 2026 Commentary. We have been pleased with the Fund's performance in the fourth quarter and for the full year. We encourage everyone to review specific performance figures at the Carillon Chartwell Small Cap Growth Fund website. The information technology sector delivered some of the portfolio's strongest performance in the fourth quarter, reflecting the robust data center capital expenditure ( CAPEX ) cycle and continued artificial intelligence ( AI ) research spending. The fourth quarter resembled 2025 overall, where some of the strongest performance was generated by positive stock selection in the technology sector. On a relative basis, the portfolio's worst-performing sector was consumer staples in the fourth quarter. Top Securities Average Weight (%) Contribution to Return (%) Lumentum Holdings ( LITE ) 1.69 1.41 Coherent ( COHR ) 2.16 1.17 Axsome Therapeutics 1.52 0.68 Macom Technology Solutions ( MTSI ) 2.22 0.68 Fabrinet ( FN ) 2.47 0.56 Click to enlarge Bottom Securities Average Weight (%) Contribution to Return (%) AeroVironment ( AVAV ) 2.32 -0.53 e.l.f. Beauty 0.39 -0.43 Commvault 0.78 -0.39 Itron ( ITRI ) 1.19 -0.37 Rambus ( RMBS ) 2.69 -0.36 Click to enlarge They are provided for informational purposes only. Carillon Tower Advisers, Chartwell Investment Partners, their affiliates or their respective employees may have a position in the securities listed. Please contact Chartwell at 800.421.4184 to obtain the calculation's methodology and/or a list showing every holding's contribution to the overall fund's performance during the measurement period.As of December 31, 2025. The information provided above should not be construed as a recommendation to buy, sell, or hold any particular security. The data are shown for informational purposes only and are not indicative of future portfolio characteristics or returns. Portfolio holdings ar...
To get John Authers’ newsletter delivered directly to your inbox, sign up here . Today’s Points: Futures now put Brent crude at $95 per barrel to end this year. That’s because Iran and the US exchanged fire over the Strait of Hormuz. Bond yields rose — but US stocks were still little-scathed . Faith in capex for AI remains undimmed. AND: Adieu to the-e-e-e-e voice of the Yankees. Fire in the Strai...
To get John Authers’ newsletter delivered directly to your inbox, sign up here . Today’s Points: Futures now put Brent crude at $95 per barrel to end this year. That’s because Iran and the US exchanged fire over the Strait of Hormuz. Bond yields rose — but US stocks were still little-scathed . Faith in capex for AI remains undimmed. AND: Adieu to the-e-e-e-e voice of the Yankees. Fire in the Strait The normal cycles of investing, finance and the economy seem almost inoperative. They’re overwhelmed by two huge shocks: the money pouring into making artificial intelligence a reality, and the hit to global oil supply from war in Iran. The former is somehow still outweighing the latter to leave US stocks near all-time highs. That doesn’t make them impervious to the latest news from the Strait of Hormuz. President Donald Trump is offering safe passage to “neutral” ships as he tries to loosen Iran’s hold over the waterway . That led to an exchange of fire and an Iranian missile attack on the United Arab Emirates. Analysts tended to dismiss Iran’s retaliation as perfunctory, but the incident makes clear that the month-old ceasefire is fraying. As Tina Fordham of Fordham Global Foresight put it: By launching renewed missile attacks today, Iran is signalling that they still have the capacity to inflict pain and won’t be forced into capitulation. The US increasingly faces a choice between a long war it doesn’t want to fight, or a bad, embarrassing deal. This feeds into the oil price. Futures now put Brent crude for the end of this year above $90. That’s its highest since the conflict started, taking out the previous peak set when Iran attacked a liquefied natural gas facility in Qatar : Any escalation that permanently removed regional oil infrastructure would be deadly for the market. Ditto any sign that the impasse will continue. Not coincidentally, prediction markets now give less than 50-50 odds that traffic will be back to normal by the end of June. Two weeks ago, this was...