The former managing director and chief China economist of bourse operator Hong Kong Exchanges and Clearing (HKEX), Ba Shusong, has not appeared in public recently and could not be contacted, according to two sources familiar with the situation. Ba is important academic who frequently gave speeches at major conferences over the past decade on behalf of HKEX, speaking about Hong Kong’s role as a con...
The former managing director and chief China economist of bourse operator Hong Kong Exchanges and Clearing (HKEX), Ba Shusong, has not appeared in public recently and could not be contacted, according to two sources familiar with the situation. Ba is important academic who frequently gave speeches at major conferences over the past decade on behalf of HKEX, speaking about Hong Kong’s role as a connector between mainland China and the world. Mainland media outlets reported that Ba was missing,...
filmestria The long-awaited spinoff of Aptiv's ( APTV ) Electrical Distribution Systems business will be effective on April 1 when the market opens. Shareholders are slated to receive one Versigent share for every three Aptiv shares they owned as of March 17. The transaction is being structured as a tax-free spin-off, subject to the usual closing conditions. After the separation, the remaining Apt...
filmestria The long-awaited spinoff of Aptiv's ( APTV ) Electrical Distribution Systems business will be effective on April 1 when the market opens. Shareholders are slated to receive one Versigent share for every three Aptiv shares they owned as of March 17. The transaction is being structured as a tax-free spin-off, subject to the usual closing conditions. After the separation, the remaining Aptiv ( APTV ) will focus on its higher-growth, higher-margin technology businesses, especially advanced safety, user experience, software, and interconnect technologies. The company has described its post-spin business as a sensor-to-cloud platform with exposure beyond automotive, including aerospace and defense, telecom, industrial, and commercial vehicle end markets. The goal is to become a more streamlined technology and mobility company with a clearer growth and margin profile. Meanwhile, new entity Versigent will hold the Electrical Distribution Systems business, which supplies low-voltage and high-voltage signal, power, and data distribution solutions to automotive and commercial vehicle customers. Versigent will be positioned as a standalone company focused on vehicle architecture, EV-related content, and cash generation, with its leadership team already in place. The stock will trade under the symbol VGNT. Versigent is forecast to generate revenue of $9.1B to $9.4B in 2026, representing 2% adjusted growth at the midpoint supported by strong EV momentum and geographic diversification across APAC, Europe, and North America. Ahead of the spin, Aptiv ( APTV ) has also arranged financing for the new company, including a $1.5B private notes offering plus an $850M revolver and a $500M term loan. The financing is intended to support the separation structure, including a dividend back to Aptiv ( APTV ), while leaving Versigent with $300M of cash after the transaction. UBS thinks the transaction will unlock value for Aptiv ( APTV ) shareholders with a sum-of-the-parts valuation...
South Africa v New Zealand T20 series highlights schedule that is increasingly hard to keep up with Clinical guidance suggests recovery from emotional trauma can take weeks or months. In some cases, the lingering pain can last for years. Elite cricketers, though, are expected to compress that timeline into days. Take Mitchell Santner. The New Zealand captain oversaw his team’s crushing 96-run loss...
South Africa v New Zealand T20 series highlights schedule that is increasingly hard to keep up with Clinical guidance suggests recovery from emotional trauma can take weeks or months. In some cases, the lingering pain can last for years. Elite cricketers, though, are expected to compress that timeline into days. Take Mitchell Santner. The New Zealand captain oversaw his team’s crushing 96-run loss by India in the T20 World Cup final on 8 March. It was the Black Caps’ fourth defeat in an ICC final since 2019 and, having swatted aside South Africa in the semi-final , would have stung. Well, Santner had to do his contemplating on the flight back home as seven days later he was suited and booted for a T20 international against the Proteas at Mount Maunganui. Continue reading...
DUBLIN and SHANGHAI, March 25, 2026 (GLOBE NEWSWIRE) -- PDD Holdings Inc. (“PDD Holdings” or the “Company”) (NASDAQ: PDD), today announced its unaudited financial results for the fourth quarter ended and the fiscal year ended December 31, 2025.
DUBLIN and SHANGHAI, March 25, 2026 (GLOBE NEWSWIRE) -- PDD Holdings Inc. (“PDD Holdings” or the “Company”) (NASDAQ: PDD), today announced its unaudited financial results for the fourth quarter ended and the fiscal year ended December 31, 2025.
jetcityimage/iStock Editorial via Getty Images So far in 2026, investors are focused on the macro story: a war in Iran, AI disruption, skyrocketing oil prices, and a shaky U.S. consumer. Very few companies, especially those in sectors exposed to consumer spending like the restaurant sector, have been able to escape the broad-based pessimism in the markets. Darden Restaurants, Inc. ( DRI ), however...
jetcityimage/iStock Editorial via Getty Images So far in 2026, investors are focused on the macro story: a war in Iran, AI disruption, skyrocketing oil prices, and a shaky U.S. consumer. Very few companies, especially those in sectors exposed to consumer spending like the restaurant sector, have been able to escape the broad-based pessimism in the markets. Darden Restaurants, Inc. ( DRI ), however, is one major outlier. The parent company behind Olive Garden and Longhorn Steakhouse has seen its share price rise modestly this year, defying weakness elsewhere in the sector (especially among fast-casual restaurants). Can Darden truly justify this outperformance? Data by YCharts I last wrote a “Sell” article on Darden in November, when the stock was trading around $180 per share. Since then, a number of factors have moved against the stock's favor even further. Share prices have increased (even while many restaurant peers have floundered), making its relative valuation less appealing. Same-restaurant sales growth has also compressed, calling into question Darden's enriched valuation multiples. At the same time, the company is also facing some pressure from commodity inflation, which makes us uncertain about its ability to generate meaningful earnings growth in the year ahead. With all of this in mind, I'm reiterating my “Sell” rating on Darden. Let's touch briefly first on commodities inflation. For the near term, the company is expecting high single-digit inflation in beef, which represents 25% of Darden's food basket, and double-digit inflation in seafood, which is 9%. “Other” costs (27% of spending), which may include paper and packaging, are also expected to rise in the mid-single digits, while the company is expecting inflation in all other categories except dairy and oil, which are expected to reduce in price. Darden commodities outlook (Darden Q3 earnings deck) Yes, Darden has hedges in place, and it notes it is ~80% covered against price movements. And yet we no...
Britain's Countryside Is Still Racist Authored by Steve Watson via Modernity.news, The National Trust’s director-general has declared that Britain’s countryside remains unwelcoming to ethnic minorities, blaming everything from clothing choices to ignorance of basic rural etiquette. This isn’t some fringe activist rant — it’s official policy from the charity tasked with protecting the nation’s heri...
Britain's Countryside Is Still Racist Authored by Steve Watson via Modernity.news, The National Trust’s director-general has declared that Britain’s countryside remains unwelcoming to ethnic minorities, blaming everything from clothing choices to ignorance of basic rural etiquette. This isn’t some fringe activist rant — it’s official policy from the charity tasked with protecting the nation’s heritage, straight out of the same DEI playbook that’s already consumed government agencies. In a video clip shared on X, National Trust Director-General Hilary McGrady stated: “The research clearly shows that ethnic minorities don’t feel comfortable in the countryside — there are lots of reasons for this, they don’t know what to wear, don’t know the countryside code.” 🚨DIRECTOR FOR NATIONAL TRUST SAYS COUNTRYSIDE IS RACIST “The research clearly shows that ethnic minorities don’t feel comfortable in the countryside - there are lots of reasons for this, they don’t know what to wear, don’t know the countryside code” What is wrong with her? pic.twitter.com/ImoDVyq1Wv — Basil the Great (@BasilTheGreat) March 24, 2026 Speaking on LBC, she expanded: “Everything from: it’s not culturally something that they necessarily feel as if it’s part of what they do when they go there. They don’t necessarily know ‘what am I meant to wear, how do I behave? What’s a countryside code? I’ve never heard of it’. So there’s loads of different reasons why they don’t feel confident all the time.” McGrady insisted the charity must act because “the research comes back really clearly to say they don’t [feel it’s a place for them]. So we accept that and we have to respond in a way that tries to help because the National Trust is here for everyone. That’s part of our charitable purpose.” As we’ve previously detailed, the government is obsessed with making Britain’s countryside less white. Under Defra guidance, National Landscapes and local councils across the Chilterns, Cotswolds, Malvern Hills, Nidderdale, S...
ACT Energy Technologies press release ( ACX:CA ): Q4 GAAP EPS of C$0.08. Revenue of C$109.3M (-14.7% Y/Y). More on ACT Energy Technologies Historical earnings data for ACT Energy Technologies Financial information for ACT Energy Technologies
ACT Energy Technologies press release ( ACX:CA ): Q4 GAAP EPS of C$0.08. Revenue of C$109.3M (-14.7% Y/Y). More on ACT Energy Technologies Historical earnings data for ACT Energy Technologies Financial information for ACT Energy Technologies
dongfang zhao/iStock via Getty Images Introduction: The AI power bottleneck and the "sunbelt landlord" The AI revolution has now reached an inflection point where the primary constraint is no longer on silicon but the scarcity of "instant" electricity. As hyperscalers compete to secure availability of electricity, Duke Energy ( DUK ) emerges as the premier utility company that owns the most valuab...
dongfang zhao/iStock via Getty Images Introduction: The AI power bottleneck and the "sunbelt landlord" The AI revolution has now reached an inflection point where the primary constraint is no longer on silicon but the scarcity of "instant" electricity. As hyperscalers compete to secure availability of electricity, Duke Energy ( DUK ) emerges as the premier utility company that owns the most valuable assets primarily in the sunbelt, high-growth regions in the Carolinas and Florida. The company is also witnessing massive migration of AI data centers, which will be explained further. Historically, Duke is viewed by investors as "too big to grow". But the significant transformation that it is undergoing is not dismissible. More importantly, Duke is de-risking the expansion through regulatory mastery and the "Bring Your Own" model, which tech giants bear the costs for grid upgrades under bespoke agreements. Therefore, Duke is no longer a stable, dividend play but a compounding play on the physical layer in AI. Massive room for growth in the AI migration As hyperscalers like Amazon, Google, and Microsoft exhaust the capacity of traditional electricity plants, they are pivoting towards the so-called "frontier markets" of the southeast of the United States, where Duke Energy sits at the epicenter of the "migration". The management described the current environment as something the utility industry has never experienced. DC Byte The benefits of migration to the southeast on Duke Energy can be seen in its latest earnings call , in which the Company has officially signed 4.5 GW in Electric Service Agreements (ESAs) with hyperscale customers. To put this in perspective, 4.5 GW is equivalent to a major U.S. city's consumption comparable to Duke Energy's current load. In addition, the Company has reported a record-high pipeline of 9 GW, which is not merely speculated capacity but those where hyperscalers have secured land or conducted studies. For example, Amazon Web Services ann...
Kingsoft ( KSFTF ): FY GAAP EPS of ¥1.45. Revenue of ¥9.68B (-6.0% Y/Y). Operating profit: Operating profit was ¥1.78B in 2025, down 51% from ¥3.65B a year ago. FY2025 Ending Cash Position: Cash and cash equivalents ¥3.12B; total cash and bank deposits ¥22.59B. The board has recommended the payment of a final dividend of HK$0.13 per share for the year ended 31 December 2025 (2024: HK$0.15 per shar...
Kingsoft ( KSFTF ): FY GAAP EPS of ¥1.45. Revenue of ¥9.68B (-6.0% Y/Y). Operating profit: Operating profit was ¥1.78B in 2025, down 51% from ¥3.65B a year ago. FY2025 Ending Cash Position: Cash and cash equivalents ¥3.12B; total cash and bank deposits ¥22.59B. The board has recommended the payment of a final dividend of HK$0.13 per share for the year ended 31 December 2025 (2024: HK$0.15 per share). The final dividend, pending shareholder approval at the AGM, is expected on 18 June 2026. More on Kingsoft Historical earnings data for Kingsoft Dividend scorecard for Kingsoft Financial information for Kingsoft