Group 1 - The Trump administration has temporarily halted the scheduling of new visa interviews for foreign students while preparing to expand social media vetting of applicants [1][2][3] - This suspension is expected to impact university budgets in the US, as many institutions have relied on international students who typically pay full tuition to offset cuts in federal research funding [2][3] - The internal cable from the State Department indicates that consulate sections should not add any additional student or exchange visitor visa appointment capacity until new guidance is issued [3] Group 2 - The State Department spokesperson emphasized the use of all available resources to vet visa applicants, indicating a continued focus on scrutiny of international students [5] - Recent actions by the Trump administration include revoking Harvard University's ability to enroll international students, which has been challenged in court and temporarily blocked [6][8] - The administration's previous policies have led to increased scrutiny of visa applicants, including reviews of social media accounts, which may continue to affect international students' enrollment plans [12]

选择发卡行如同破解密码游戏。国有大行看似稳妥，但某第三方测评机构发现其境外交易汇率加价幅度普遍高出商业银行0.3个百分点。股份制银行的"免年 费"承诺往往附加着苛刻的消费次数要求，某城商行推出的"终身免年费"Visa卡，实则要求持卡人每月至少完成5笔跨境交易。这种暗箱操作让消费者防不胜 防。 申请环节的"秒批"神话正在破灭。某科技公司工程师实测发现，即便信用评分达780分的优质客户，在周五下午申请时平均审批时长较工作日上午延长2.7 倍。银行系统负载、人工复核节奏乃至国际清算系统状态，都在隐秘影响着审批效率。那些宣称"30秒下卡"的广告语，不过是收割流量的营销话术。 年费陷阱比想象中更凶险。某消费者权益组织调查显示，82%的持卡人并不清楚自己卡片真实的年费计算方式。某银行白金卡宣传的"首年免年费"，实则从 核卡之日起计算，导致不少用户在第十三个月就被扣取高额年费。更值得注意的是，部分银行的"免货币转换费"仅针对特定消费场景，普通消费仍需承担 1.5%的隐形费用。 "手里没张Visa卡都不好意思说懂生活"的论调在社交平台蔓延，这种观点正裹挟着消费主义浪潮席卷年轻群体。办理Visa卡的需求背后，折射出的是中国居 ...

reinvesting the dividend -- doing so will yield even stronger performances. Many investors are worried about the recent market volatility caused by Trump's trade policies. However, presidents come and go, and so do economic policies. Throughout it all, broader equities always deliver competitive returns over the long run. Dividend stocks in particular have produced much better performances than their non-dividend-paying peers. Purchasing shares of just any random dividend company won't do, but the following ...

Ryan M. Nash, CFA +1(212)902-8963 | ryan.nash@gs.com Goldman Sachs & Co. LLC Americas Diversified Financials 1Q25 mutual fund and hedge fund Financials positioning analysis We assess Financials sector mutual fund and hedge fund positioning, using 13F data from the GS equity strategy team's reports (Mutual Fundamentals and Hedge Fund Trend Monitor). Mutual funds (MFs) decrease exposure to Financials in aggregate, with Financials seeing the biggest QoQ decrease in 1Q25 of any sector in the S&P 500, Financials ...

Core Insights - Visa Inc. reported strong Q2 FY25 results, with revenue and normalized EPS exceeding consensus estimates [1] - Payment volume growth has decelerated compared to Q1, but key metrics like processed transactions and cross-border transactions remain robust [1] Financial Performance - Revenue and normalized EPS figures surpassed market expectations, indicating strong operational performance [1] - The company continues to show resilience despite a slowdown in payment volume growth [1] Market Position - Visa's processed transactions and cross-border metrics are critical indicators of its market strength, suggesting ongoing demand for its services [1]

Core Insights - Visa has reached a record high with a market capitalization approaching $700 billion, indicating strong market performance and investor confidence [1] Company Performance - The analysis suggests that despite the high valuation, there are still opportunities for investment in Visa, implying that the company has not yet reached its peak potential [1] Analyst Perspective - The focus is on providing a clear and disciplined breakdown of Visa's business performance, emphasizing the importance of following numerical data rather than market narratives [1]

Core Viewpoint - Visa Inc. and American Express Company are both leaders in the payment solutions industry, benefiting from the growth of digital payments and consumer spending, but their differing business models impact investor returns [1][2]. Group 1: American Express - American Express operates a premium, relationship-driven model that combines payment processing with direct lending, allowing it to capture more value per customer compared to Visa [3]. - In Q1 2025, American Express reported a 7% year-over-year revenue growth, with network volumes of $439.6 billion increasing by 5% and total interest income rising by 6% to $6.1 billion [4]. - The affluent user base of American Express continues to spend on travel, dining, and entertainment, supported by exclusive offers and loyalty programs [5]. - American Express maintains a robust balance sheet with cash and cash equivalents of $52.5 billion, and its provision for credit losses declined by 9% year-over-year to $1.2 billion in Q1 [6]. - The Zacks Consensus Estimate for American Express indicates year-over-year sales and EPS growth of 8.1% and 13.7%, respectively, for fiscal 2025 [11]. - American Express trades at a forward earnings multiple of 18.51, reflecting its double-digit growth potential [12]. - Over the past month, American Express shares have rallied over 17%, driven by structural growth factors [14]. Group 2: Visa - Visa operates an asset-light, transaction-based model, earning fees for processing payments, which is considered low-risk [7]. - In Q2 fiscal 2025, Visa reported a 9.3% increase in net revenues, with payments volume increasing by 8% and processed transactions growing by 9% to 60.7 billion [8]. - Visa's business model lacks direct consumer relationships, relying on banks and merchants, which limits its control over the end-user experience [9]. - Visa is investing in B2B payments, real-time transfers, and payment security, but faces regulatory scrutiny due to its size [10]. - The Zacks Consensus Estimate for Visa indicates year-over-year sales and EPS growth of 12.9% and 10.3%, respectively, for fiscal 2025 [11]. - Visa trades at a higher forward earnings multiple of 29.94, which reflects its consistent performance but offers less room for upside surprises [12]. - Over the past year, Visa shares have gained 10.7%, with growth appearing more incremental compared to American Express [14]. Group 3: Comparative Analysis - American Express shows greater upside potential due to its dual revenue streams and strong customer loyalty, particularly among younger demographics [17]. - Both companies currently hold a Zacks Rank of 3 (Hold), but American Express is viewed as having more attractive valuation and growth prospects in the current market environment [17].

While many investors chase fleeting market trends, dividend growth investing offers something far more valuable. Namely, compounding wealth through businesses that pay you to own them. Moreover, elite dividend growth stocks, defined as those with five-year dividend growth rates above 6% and payout ratios under 75%, have a stellar record of delivering superior returns to the benchmark S&P 500.This outperformance reveals a deeper truth about exceptional businesses. Companies that consistently grow dividends f ...

转自：新华财经 5月15日，《2025凯度BrandZ最具价值全球品牌100强》榜单在沪发布。榜单显示，2025年，全球百强品 牌的总价值达到10.7万亿美元，同比增长29%，这一增长主要得益于科技驱动型品牌的强劲表现。在发 布活动现场，《世界品牌年鉴（2025）》全球品牌案例征集正式启动。 2025凯度BrandZ最具价值全球品牌10强 | 2025 年排名 | 品牌 | 2025 年品牌价值 ( 亿美元 ) | 价值同比变化 vs 2024( % ) | | --- | --- | --- | --- | | 1 | 苹果 | 12996.55 | +28% | | 2 | 谷歌 | 9441.37 | +25% | | 3 | 微软 | 8848.16 | +24% | | 4 | 亚马逊 1 | 8661.18 | +50% | | 5 | 英伟达 | 5094.42 | +152% | | ნ | Facebook | 3006.62 | +80% | | 7 | Instagram | 2289.47 | +101 % | | 8 | 麦当劳 | 2210.79 | 0% | | 9 | 甲骨文公 ...

Core Insights - Euronet Worldwide, Inc.'s Money Transfer unit has partnered with Visa Inc. to integrate Visa Direct into its services, enhancing its digital payment capabilities [1][2] - The collaboration allows Euronet to facilitate real-time money transfers to over 4 billion Visa debit cards globally, using only the recipient's name and card number [2][4] - The integration is timely, aligning with the increasing use of debit cards for transactions and modernizing Euronet's digital payout infrastructure [4][5] Euronet's Money Transfer Unit - The Money Transfer unit, which includes Ria Money Transfer, Xe, and Dandelion, processed 44.6 million transactions in Q1 2025, reflecting a 10% year-over-year increase [7] - Revenues in this segment advanced by 9% year-over-year in the same quarter [7] - Dandelion's enhanced capabilities will support real-time cross-border payments, offering various payout options such as direct bank deposits and cash pickups [6] Market Context - According to the World Bank, over half of individuals aged 15 and above possess a debit card, indicating a significant market for digital payments [5] - The Nilson Report forecasts that global debit and prepaid card purchases will exceed $1.1 trillion by 2029, highlighting growth potential in the sector [5] Share Performance - Euronet's shares have increased by 7.1% year-to-date, outperforming the industry average decline of 2.7% [8] - The company currently holds a Zacks Rank of 3 (Hold), indicating a stable outlook [8]