与此同时，养老规划的重点正从"是否需要做"转向"如何去做"。《报告》指出，受访者不仅养 老规划意识总体较强，而且行动意愿普遍积极。 50岁以下的受访者中，85%每月均有养老规 划。 调研发现，受访者对养老金融的核心诉求，正在从"资金保值增值"延伸至"金融+健康、照护、 文化休闲"的全方位服务。调查数据显示，七成受访者希望金融机构不仅能管好钱，更能链接 优质的健康管理与医疗服务；近六成期待金融产品附加养老机构服务；还有近五成希望享受旅 居养老相关服务。 为响应市场需求，我国养老金融产品供给正在持续扩容升级。个人养老金账户已新增纳入国 债、特定养老储蓄、指数基金三类产品，进一步丰富了账户投资选择；商业养老金产品不断创 新，为临退休人群提供了更具针对性的配置品类。信托直付养老社区新模式也在积极探索，为 居民养老规划提供更丰富产品选择。 记者丨郭聪聪 编辑丨杨希 随着低利率环境下金融资产增值放缓，叠加人口长寿化带来的养老资金需求持续扩大，我国居 民养老投资正从传统单一储蓄模式向多元资产配置转型。 中信银行近日发布的《中国居民养老财富管理发展报告（2025）》（下称《报告》）显示，近 年来居民养老规划意识总体增强，而且 ...

Core Insights - Walt Disney has seen a decline of 25% in stock value over the past five years, with current trading 49% off its peak [1][2] - The company is transitioning to a direct-to-consumer model, with Disney+ achieving 131.6 million subscribers and generating $1.3 billion in operating income in fiscal 2025 [3] Streaming and Cable Networks - The shift to streaming is crucial for Disney's future, although the cable networks continue to decline, with a 12% revenue drop year over year in fiscal 2025 [4] - The DTC segment, excluding ESPN, is becoming a significant contributor to Disney's overall financial performance [3] Intellectual Property and Competitive Advantage - Disney's valuable intellectual property, including Marvel, LucasFilm, and Pixar, provides a competitive edge and creates a wide economic moat [5] - The company has the ability to monetize its IP in various ways, leveraging its creative strengths to maintain consumer engagement [6] Experiences Segment - The Experiences segment, which includes theme parks and cruise ships, remains the most profitable division, with a 6% revenue increase and a 13% rise in operating income in Q4 [9] - Disney's unmatched IP allows for pricing power, enabling the company to charge higher prices for its services and products over time [10]

The latest 13F from Berkshire Hathaway shows a characteristically concentrated — but unusually active — quarter for Warren Buffett. While Berkshire trimmed several long-held positions earlier in 2025, this filing reveals where capital actually flowed in. Much of the activity reflects classic Buffett behavior: doubling down on durable franchises, opportunistic value investing, and selectively adding to high-conviction compounders.Below is a breakdown of the most important net purchases visible in the filing. ...

Core Insights - The article discusses the unpredictable impact of President Trump's trade policies on global equity markets, highlighting the volatility and rapid changes in market sentiment driven by tariff announcements and reversals [1][11]. Trade Policy Developments - In November 2025, President Trump announced a rollback of tariffs on over 200 food and agricultural products, effective retroactively from November 13-14, 2025, in response to rising food-at-home inflation of 2.7% year-on-year in September 2025 [2][3]. - The US lifted 50% reciprocal tariffs on various Indian agricultural products, expected to inject nearly $1 billion into Indian exporters, coinciding with a decline in India's exports to the US by 8.6% year-on-year in October [4]. Market Reactions - Arabica coffee futures dropped to a 7-week low following the tariff relief, while retail coffee prices had previously surged by 40% in 2025 [3]. - The Dow Jones Industrial Average fell by 878.82 points (1.90% drop) and the NASDAQ declined by 3.56% (down 820.20 points) in response to threats of a 100% tariff on Chinese goods [5][6]. Sector-Specific Impacts - The pharmaceutical industry faced a 100% tariff on imported products, with European companies like Bayer experiencing a 9.9% slump in shares due to tariff threats [7]. - A proposed 50% tariff on copper imports led to a 1.72% decline in the Nifty Metal Index, indicating the broad impact of tariffs across various commodities [8]. Broader Market Trends - Major stock indexes experienced significant volatility, with the Nasdaq down 2.2% and the S&P 500 falling 1.6% on November 20, 2025, despite earlier gains [10]. - The overall market sentiment reflects a mix of optimism and despair, heavily influenced by the administration's unpredictable trade policies [11].

>>> TONIGHT, THE SURPRISING OVAL OFFICE MEETING. PRESIDENT TRUMP SIDE- BY-SIDE WITH NEW YORK CITY MAYOR ELECT ZOHRAN MAMDANI. WHAT THE POLARIZING POLITICAL RIVALS DID WHEN THE CAMERA STARTED ROLLING.>>> THE SHOCKING SHIFT IN TONE AFTER MONTHS OF TRADING INSULTS. THE REPUBLICAN PRESIDENT AND DEMOCRATIC SOCIALIST NOW SHAKING HANDS AND SHARING COMPLEMENTS. AND WE WILL SHOW YOU THE MOMENT AT THE RESOLUTE DESK THE MAYOR ELECT WAS ASKED IF HE THINKS PRESIDENT TRUMP IS A FASCIST.>>> ALSO TONIGHT, THE PRESIDENT DOU ...

Netflix, Comcast and Paramount Make Bids for Warner Bros. Listen for more on Bloomberg Intelligence. https://t.co/gqAVaaToJC ...

Group 1: Federal Reserve and Market Reactions - New York Federal Reserve President John Williams indicated potential for a rate cut in December, suggesting the central bank may adjust its policy stance due to a softening labor market [9][10][12] - The S&P 500 experienced a significant intraday reversal, dropping 1.6% after an initial rise of 1.4%, now down approximately 5% from October highs [2][6] - Other Federal Reserve officials expressed mixed views on rate cuts, with some showing caution while others, like Williams and Jefferson, appeared more open to the idea [11][13] Group 2: Cryptocurrency Market - Bitcoin faced a severe sell-off, with $1 billion liquidated in just one hour, marking its worst month since the 2022 crypto collapse [3][4] - Bitcoin's price has dropped over 30% since reaching record highs in early October, currently trading below $85,000 [4][38] - Concerns arise regarding potential forced selling from companies heavily invested in Bitcoin, such as Strategy, which owns over 3% of all Bitcoin [37][38] Group 3: Retail Sector Performance - Retail earnings reports highlighted a focus on "value," with companies like Walmart, Ross, and TJX performing well by catering to diverse income demographics [25][26][28] - Gap Inc. reported better-than-expected results, particularly from its Old Navy and Gap brands, indicating strong consumer response to their marketing strategies [30][32] - The retail sector is characterized by a K-shaped recovery, where high-income earners are spending while low-income consumers seek value [28][29] Group 4: Warner Brothers Discovery Bids - Paramount, Comcast, and Netflix have submitted nonbinding bids for Warner Brothers Discovery, with Paramount seeking to acquire the entire company [5][34] - The bidding process is expected to continue with additional rounds, as Warner Brothers evaluates strategic options following interest from multiple suitors [34][35] Group 5: Foxconn and AI Partnership - Foxconn announced a partnership with OpenAI, planning to invest between $1 billion to $5 billion to expand its manufacturing footprint in the U.S. [36] - The collaboration aims to address challenges in establishing AI data centers, with Foxconn being a major player in contract electronics manufacturing [36]

Paramount Skydance was awarded the rights to air most Champions League games in the U.K. and Germany, and also has U.S. media rights for the competition. ...

10 Things You Shouldn’t Miss This AM…1) Japan on Friday escalated its warning of currency intervention and the central bank governor signaled the chance of a near-term interest rate hike, as authorities sought to combat unwelcome yen falls blamed for pushing up the cost of living. RTRS2) Japan’s inflation ticked higher and exports rose. National CPI for Oct is inline w/the Street, including on headline at +3% (up from +2.9% in Sept) and core (ex-food/energy) at +3.1% (up from +3% in Sept). BBG3) India’s rup ...

French media group Canal+ SA is gearing up for its debut euro bond sale and will start talking investors ahead of the deal next week https://t.co/BWgASHrQcQ ...