This is a story about Ji Sen. That's a Japanese term, meaning putting theory into practice. Japan is changing the way it does business so it can have the money it needs to invest in productivity.What does that mean for Japanese corporations. The way they are structured and the way they finance those investments. There is a real corporate revolution going on.The notion of every company needing a plan to get above one times book and essentially using shame as a tool for reform has been very, very effective as ...

智通财经APP获悉，国金证券发布研报称，字节跳动推出的AI视频生成模型Seedance2.0火爆出圈，大幅 降低了高质量视频内容的创作门槛，或成为AI影视发展的重要节点。元宝、千问等大模型新春活动加 速入口流量争夺。国内AI应用正加速向垂直领域渗透，形成技术与产业深度融合的新格局。在政策驱 动下，智能体技术成为核心增长引擎，已规模化应用于工业质检、医疗诊断等场景，推动AI从"感 知"向"决策"升级。展望2026年，将是AI应用从"技术验证"迈向"商业推广"的关键之年。 国金证券主要观点如下： AI应用产业趋势确立，2026年有望迎来双击 1)2026年应用是"必修课"。2026年无论是从算力的ROI诉求角度，还是互联网/软件/端侧公司做产品的角 度。 1)超级入口：大模型量收共振，流量枢纽地位确立。大模型已超越技术底座范畴，演进为AI时代具统治 力的流量入口。全球领军者商业化进程呈非线性加速：OpenAI ARR预计2025年底突破200亿美元，远 期锚定"数千亿美元"量级；Google Gemini 2025年10月单月Token使用量达1.3千万亿个，呈指数级跃 升；Anthropic Claude AR ...

On the verge of recovery after being roiled by the pandemic and Hollywood strikes, box office operators are bracing for a plan by Netflix to buy Warner Bros Discovery, threatening to squeeze theatrical releases https://t.co/rmR1dJEKAL ...

Core Viewpoint - Paramount Skydance Corp. is moving forward with its proposed $77.9 billion acquisition of Warner Bros. Discovery Inc. after clearing a US antitrust hurdle, claiming no statutory impediments exist in the US for closing the deal [1] Group 1: Acquisition Details - Paramount has complied with the US Justice Department's second-request review process under the Hart-Scott-Rodino Act, with a 10-day waiting period expiring [1] - Warner Bros. has a signed agreement to sell its studio and streaming business to Netflix for $72 billion, and has given Paramount a deadline of February 23 to submit its best and final offer [3] - Paramount is attempting to leverage the expiration of the waiting period to suggest regulatory approval and influence Warner Bros. shareholders against the Netflix deal, with a shareholder vote scheduled for March 20 [9] Group 2: Regulatory Scrutiny - The Justice Department could still sue to block the transaction, as it has done in other cases, and both Netflix and Paramount will face scrutiny in the US and the European Union [5] - California Attorney General Rob Bonta is closely examining the proposed purchase, stating that further consolidation in key markets does not benefit the economy or competition [6] - The Justice Department is conducting in-depth reviews of both Netflix and Paramount's offers, with federal officials seeking information from key Hollywood constituencies [10] Group 3: Competition Concerns - The merger of Warner Bros. and Netflix raises significant antitrust concerns, particularly regarding the impact on streaming content competition and labor [12] - Lawmakers have expressed concerns about the potential impact on consumer choice and jobs in California, with a group of Democratic lawmakers highlighting significant competition concerns [13]

Core Viewpoint - The city of Kunming is launching the "Purchase in China · Enjoy Spring City" 2026 New Spring Consumption Season to stimulate the local economy and enhance consumer spending during the Spring Festival, showcasing the resilience and vitality of the economy [1] Group 1: Consumption Initiatives - The Kunming Municipal Bureau of Commerce is coordinating major business districts to participate in various promotional activities, including the "Delicious Food, Comfortable Stay, Quality Goods" campaign and the distribution of consumption vouchers [3] - A total of 600,000 yuan in consumption vouchers are being issued for the Yangzonghai Scenic Area, while the Dianchi Resort Area continues to distribute "Dian Flavor Dining Vouchers," effectively stimulating regional consumption [3] Group 2: Incentive Programs - Kunming is a pilot city for the national prize invoice program, which aims to boost consumption by encouraging citizens to request invoices and participate in a lottery for cash rewards [5] - Consumers can win up to 800 yuan in cash rewards by submitting digital invoices for purchases over 100 yuan, with the program running until July 31, 2026 [5] Group 3: Impact and Future Plans - As of February 18, over 25,000 citizens and tourists have participated in the prize invoice program, resulting in over 3.4 million yuan in cash rewards and directly stimulating over 35 million yuan in consumption [5] - The strong start to the consumption season indicates the robust resilience and vitality of Kunming's market, with plans for ongoing monitoring and promotion of consumption policies leading up to the Lantern Festival [5]

Netflix co-CEO Ted Sarandos is defending his company’s plans for movies if its acquisition of Warner Bros.goes through, responding to many in Hollywood who are concerned about the deal’s impact on theaters https://t.co/BCl4ts1Gs9 ...

Core Insights - Live Nation Entertainment, Inc. (LYV) reported fourth-quarter 2025 results with earnings and revenues exceeding the Zacks Consensus Estimate, showing a year-over-year revenue increase but a decline in earnings compared to the prior year [1][4]. Financial Performance - The company reported an adjusted loss per share of $1.06, which was narrower than the expected loss of $1.08, compared to an adjusted earnings per share of 56 cents in the same quarter last year [4]. - Revenues reached $6.31 billion, surpassing the consensus estimate of $6.07 billion, marking an 11% increase year over year [4]. Segment Performance - **Concerts**: Revenues totaled $5.15 billion, up 12% year over year, with an adjusted operating loss of $192.3 million, an improvement from a loss of $213.2 million in the prior-year quarter [5]. - **Ticketing**: Revenues amounted to $846.2 million, a 1% increase from the previous year, with adjusted operating income of $305.3 million, down 2% from $311.2 million [5]. - **Sponsorship & Advertising**: Revenues reached $329.9 million, up 17% year over year, with adjusted operating income increasing by 24% to $168.6 million [6]. Cash and Debt Position - As of December 31, 2025, cash and cash equivalents totaled $7.09 billion, up from $6.1 billion a year earlier. Goodwill increased to $2.89 billion from $2.62 billion, while net long-term debt rose to $7.61 billion from $6.18 billion [7]. Annual Financial Highlights - For the full year 2025, revenues increased by 9% to $25.2 billion, with operating income surging 52% to $1.3 billion. Adjusted operating income rose 10% to $2.4 billion [9]. - Concerts remained the primary growth driver, with a record adjusted operating income of $687 million and margins of 3.3%. Global attendance increased by 5% to 159 million fans [10]. 2026 Outlook - Venue Nation is expected to host over 70 million fans in 2026, indicating high-single- to low-double-digit growth year over year. New venues are projected to add 5 to 7 million fans annually once fully operational [11]. - Planned capital expenditures for 2026 are estimated between $1.1 billion and $1.2 billion, with significant allocations for venue development and upgrades [13].

Core Viewpoint - The article discusses the potential future of Bitcoin, highlighting three possible outcomes regarding its role as a store of value and its overall viability in the financial system [1][4][3]. Group 1: Bitcoin's Potential Outcomes - The first outcome suggests that Bitcoin could fade away as a memecoin without any significant utility or value [1]. - The second outcome posits that Bitcoin may eventually establish itself as a store of value, but this process could take longer than one year of institutional access [4]. - The third and least likely scenario is that Bitcoin becomes the primary currency for AI agents conducting numerous microtransactions, necessitating instant and programmable settlement systems [4]. Group 2: Market Behavior and Investor Sentiment - During recent market stress, investors opted for gold over Bitcoin, indicating a lack of confidence in Bitcoin as a digital store of value [2][3]. - The article notes that Bitcoin's failure to act as a safe haven during economic turmoil has led to questioning its long-standing thesis as a store of value for the first time in 12 years [3].

Company Developments - Amazon (AMZN) has officially surpassed Walmart (WMT) as the world's largest company by revenue, a shift attributed to the concept of "Amazon-ification," which emphasizes 24/7 availability and a robust fulfillment network [4] - Johnson & Johnson (JNJ) is considering a $20 billion sale of its orthopedics business [8] - Tesla (TSLA) has launched its most affordable Cybertruck and reduced the price of its Cyberbeast model [8] - Nvidia (NVDA) and OpenAI have reportedly abandoned a $100 billion deal in favor of new investment opportunities [8] - Netflix (NFLX) has sufficient cash reserves to increase its bid for Warner Bros. (WBD) [8] Industry Trends - The CME Group (CME) is moving towards round-the-clock trading, with crypto futures and options set to trade 24/7 starting May 29, reflecting a 46% year-over-year increase in average daily volume to 407,200 contracts [4] - Retail trading has gained traction, with platforms like Robinhood (HOOD) and Webull (BULL) facilitating overnight stock trading, and exchanges extending trading hours [5] - The National Securities Clearing Corporation is transitioning to a 24/5 operating schedule in June, which will enhance the guarantee of overnight trades and mitigate risks for brokerages [6] - The Securities Information Processor (SIP) is also moving towards 24-hour data dissemination from Sunday to Friday night, aligning with the industry's shift towards continuous trading [6]

Bollywood spy thriller ‘Dhurandhar’ has topped Netflix charts on both sides of the India-Pakistan border — even as it fuels a debate about nationalism and propaganda. https://t.co/gSkROp9jaO ...