50jili bond
Both Taiwan Semiconductor Manufacturing ( TSM -0.70% ) and ASML ( ASML -0.32% ) play critical roles in the semiconductor industry. Taiwan Semiconductor, or TSMC for short, is the world's leading semiconductor contract manufacturer. Given the cost to build manufacturing facilities (called fabs or foundries), the high capacity utilization needed for foundries to run profitably, and the technological expertise needed, most semiconductor companies prefer to just design chips and hire a third party to manufacture them. This is where TSMC fits in. ASML, meanwhile, makes the equipment that companies like TSMC use to manufacture semiconductors. While it has competitors, it is considered to have a near monopoly on extreme ultraviolet ( EUV) lithography, which are highly complex machines used to create advanced chips. This year, TSMC's stock has been the clear winner, up more than 90% as of this writing. ASML's stock, meanwhile, has fallen about 5% in 2024. Let's look at which stock could be set to outperform in 2025. Both stocks are riding the chip boom TSMC has been a big beneficiary of the overall proliferation of chips as well as the artificial intelligence (AI) infrastructure boom. The company's technological expertise has vaulted it to the forefront of advanced chip manufacturing. As such, the biggest chipmakers in the world, including Apple , Nvidia , and Broadcom , rely on it to manufacture their most advanced chips. Surprisingly, the AI chip boom has not helped all chip manufacturers, as TSMC's biggest rivals, Intel and Samsung , have struggled. This has allowed the company not only to gain share, but also to exert strong pricing power. In turn, this led to a strong gross margin for TSMC. TSMC saw strong growth this year, including seeing its third-quarter revenue jump 36% year over year to $23.5 billion. Meanwhile, its gross margin improved by 460 basis points sequentially to 57.8%, which helped lead to a 50% year-over-year increase in its earnings per American depositary receipt (ADR). 2025 is also setting up to be another good year for the company. According to Morgan Stanley , the company is set to nicely increase prices in 2025. Meanwhile, given the demand for AI and other chips, TSMC has been expanding to try to help companies like Nvidia keep up with demand. It also just announced its new fab in Japan had started mass chip production. TSMC's expansion should presumably help ASML, as it is one of its big three customers along with Samsung and Intel for its newer technology. But the company has called 2024 a transition year as it moves to its next-generation high-NA EUV technology. This transition appears to have slowed some orders. TSMC, meanwhile, has also balked at the high price of the new ASML machines (prices range from $350 million to $380 million per machine), but it is now expected to receive a machine by year-end. However, it has said it doesn't need the technology for producing current high-end chips, and it looks like it won't use the machines for mass production until at least 2030. Intel has been the company most receptive to ASML's new technology, being the first to get a new high-NA EUV technology machine, but its foundry business has struggled. Revenue fell for the segment last quarter, while losses have been mounting. The company is now in a bit of disarray following the retirement of its CEO in early December and reports it is looking to spin off its foundry business. As one of its big three customers, ASML could be affected. Nearly half of ASML's revenue in 2024, meanwhile, has come from China. This is despite the fact that the company is prohibited from selling its newer chipmaking technology to the country. This is a big shift from recent years, as China was just 9% of its revenue in the fourth quarter of 2022. This could be the result of Chinese companies rushing to get equipment on fears that export bans could expand to even older technology. While all this has led to some uncertainty surrounding ASML, the company is still basically a monopoly for high-end semiconductor equipment, and as chip production continues to grow, it should eventually benefit. Valuation and verdict From a valuation standpoint, TSMC is the cheaper stock trading at a forward price-to-earnings (P/E) ratio of around 22, while ASML's forward P/E currently sits at 29. TSMC has also been growing its revenue more quickly, up 36% last quarter versus 12% growth for ASML. TSM PE Ratio (Forward 1y) data by YCharts While TSMC is the cheaper stock growing more quickly, I wouldn't count ASML out. The semiconductor equipment business can be a bit lumpy, but this is a company with a virtual monopoly on high-end chipmaking machines in a market that is seeing continued increasing demand for advanced AI chips. Over the long term, it is set to be a winner. That said, for next year, TSMC edges it out as my pick. Fortunately, investors don't have to pick one or the other and can feel comfortable buying both for 2025.
Keir Starmer is considering giving Sue Gray a place in the House of Lords, it has been reported, after she turned down the offer of becoming the PM’s ‘envoy to the regions and nations’. Last month it emerged that Sue Gray would not be taking up the post, which the PM had offered her as a consolation prize after she quit as Downing Street chief of staff amid infighting, briefings and turmoil. However this evening it appears she could be in line for a major golden handshake, as Sir Keir is considering handing her a place in the House of Lords. The Financial Times reports that Sir Keir is set to put a number of Labour figures into the upper chamber, which is currently disproportionately full of Tories . The PM is looking at handing peerages to former MPs who stepped down from safe Labour seats at the election in order to ‘make way for new party talent’. They include Lyn Brown, Julie Elliott and Kevin Brennan. Thangam Debbonaire, the former shadow culture secretary who lost her Bristol seat to the Greens, is also in line for a political return via the Lords. While the FT initially said that Sue Gray had been on an early draft list of those set to appear on the New Years honours, government insiders had become unsure about whether she will make the final cut. However in an update shortly after, they clarified that the former Chief of Staff is still in line for a peerage. The LibDems will also get to appoint peers, after returning to the third largest party in the Commons. While Rishi Sunak has not submitted his list yet, but it could include Michael Gove, former chief whip Simon Hart, and former Scottish Secretary Alister Jack. It’s also believed Rishi Sunak may break with tradition by not appointing any party donors to the Lords, something causing concern in Tory high command as it may disincentivise future donations. In November, a civil service ally of Ms Gray said she had turned down the job offer of envoy to the regions and nations after having “taken time to think about it properly”. They added: “Ultimately she’s decided she doesn’t want to do it.” Appointing Sue Gray to the Lords could pour further fuel on the fire, coming shortly after Sir Keir faced backlash for allowing sacked Transport Secretary Louise Haigh to depart from government with a £17,000 golden handshake of her own. Despite resigning after it was revealed she had a fraud offence prior to entering politics, Ms Haigh will be entitled to three month’s salary. This comes in spite of Labour previously demanding a change to the rules so ministers who leave office due to a scandal are no longer entitled to the taxpayer pay-out. A Downing Street source said they do not comment on speculation around honours or peerages.None
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North Korean leader Kim Jong Un held a key policy-setting meeting of the country's ruling party a week ago ahead of the new year, state media KCNA reported on Sunday. The meeting of party and government officials decided that North Korea would launch the "toughest" strategy to counteract the United States less than a month before Donald Trump takes office as the next American president, the report said, Reuters reported. The alliance between South Korea, the U.S. and Japan has expanded to a "nuclear military bloc" and South Korea has become an "anti-communist outpost" for the U.S., the KCNA report added. "This reality clearly shows to which direction we should advance and what we should do and how." The Dec. 23-27 meeting also reviewed the handling of floods earlier this year, including the plan that brought those affected to Pyongyang, the capital, according to the report. North Korea also vowed to promote relations with "friendly" countries during the meeting. Kim also called for progress in defense science and technology to bolster the country's war deterrence.
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Tirelessly year after year, Marta has championed the women's game even when it felt like nobody else did. So when Marta lifted a long-awaited NWSL trophy this weekend, women's football united in the energy-emitting glow of the Brazilian GOAT. Marta has been named FIFA Women's Player of the Year six times and has won three Olympic silver medals. Her genuine love for the game and the freedom with which she plays have wowed and inspired people all over the world. The Brazilian is a special character and a generational talent, and here at Sporting News, with the dust settling on another breathless NWSL season, we are taking the chance to tip our cap to a legend and look back on some of Marta's most wholesome and awe-inspiring moments on and off the pitch. Marta's most heartwarming moments and career highlights NWSL Champions with Marta's mom watching on Marta grew up in an impoverished area of Brazil called Dois Riachos; she was one of four siblings born to a single mother. Now 38 years old, with eight years of playing in the US under her belt, it was only this weekend that Marta played a match on US soil with her mom in the crowd. Tereza travelled all the way to Kansas City from Brazil to watch her daughter play, and would prove to be the soccer legend's good luck charm. Marta finally had her hands on the much sought-after trophy with Orlando Pride . After full-time, Marta and her mother embraced, but the side-to-side shot perhaps illustrates the beauty of the moment best. Just look at what an #NWSL championship means to Marta and her mum, Tereza 🥹🇧🇷 On Tereza's first trip to the USA to watch her daughter play, she claims her first championship after eight years of trying. Football 💜 #NWSLChampionship pic.twitter.com/iEycuF8UT3 Marta and Khadija 'Bunny' Shaw share a moment Touted as Marta's final World Cup, the 2023 Women's World Cup in Australia and New Zealand took on added significance for Marta and her nation, Brazil. Led by legendary Swedish head coach Pia Sundhage, who had just guided Brazil to victory in the Copa America 2022, expectations were high. Brazil were drawn into what seemed a simple group, and after a comfortable win against Panama, Brazil lost to France, meaning that only victory against Jamaica would take Brazil through to the knockout rounds. Marta's Brazil huffed and puffed, but they were unable to break through a stubborn Jamaican defence, and the match finished 0-0. Brazil were stunningly knocked out at the group stage for the first time since Marta laced up her boots for her country. It was a crushing blow, and Marta was clearly devastated after the final whistle. While Marta exiting the World Cup was the big story, Jamaica had simultaneously become the first Caribbean team to make the Women's World Cup knockout stages after extensive disputes with the Jamaican FA over payment and funding, which at one point saw the team almost completely funded by Bob Marley's daughter Cedella Marley. After the game Marta approached Khadija 'Bunny' Shaw embracing her and congratulating the captain of the Reggae Girlz. When Shaw was asked what Marta had said to her responded "She just said that she's watched our journey ever since we qualified, and she credits us because every time we got knocked down, we still get up and keep pushing." Women's World Cup 2007 - Marta inspired Brazil dump USA out The 2007 World Cup was a seminal moment in women's football — more than anything, it represented the true arrival of one of the true greats onto the world stage. Marta had been featured at the World Cup four years earlier, where she had helped Brazil to the quarterfinals. But now she was a little more mature and was playing with a swagger, a street footballer-like magic that it seems only Brazilians have the ability to conjure up. Marta danced her way through to the semifinals with Brazil, where they would face the mighty USA. To this day, the match is a sore spot for fans of the USWNT who may still lament head coach Greg Ryan's unexpected decision to bench Hope Solo in favour of Briana Scurry --- the famous goalkeeper for the ninety-niners who was perhaps at that stage past her best. Marta put on a show in China that night; her goals helped Brazil to a 4-0 win and a place in the World Cup final. Although defeated by Germany in the final, Marta won the Golden Ball, the Golden Boot and the hearts of millions the world over. Humble Marta and her guitar Former England international Anita Asante recently penned a beautiful article for the BBC about her former roommate from her time playing for FC Rosengard, a certain Brazilian called Marta. Asante fondly remembers her time with Marta after joining her in Sweden in 2013, "Marta is such a humble person. She definitely has an aura --- but she would never make anyone else feel she was higher than them. She didn't act like a superstar." The former Lioness also remembers Marta's penchant for bringing her guitar wherever she went, often whimsically playing and singing a tune to herself in Portuguese. Marta's speech that inspired millions It is impossible to distil the essence of a legend into five moments. There are so many more that could have been included from Marta's UEFA Women's Champions League title for Umea IK to her player of the tournament performances at major tournament after major tournament. But part of her brilliance is her ability to inspire future generations without fail. After exiting the 2019 World Cup to hosts France, Marta gave a spine tingling call to arms for young women's footballers around the world. Staring into the camera Marta issued her rallying cry : "It's wanting more. It's training more. It's taking care of yourself more. It's being ready to play 90 plus 30 minutes. This is what I ask of the girls. The women's game depends on you to survive, so think about that. Value it more. Cry in the beginning so you can smile in the end." We have long known Marta as a champion, but Sunday confirmed her time in the NWSL would be complemented by more than one piece of silverware, so I will leave the final words that will warm the hearts of Marta fans everywhere, to the legend herself : “I’ve asked myself why I still play for Orlando after eight years, I’m the only player on this club since 2017. And I’ve had so many questions, but now I have the answer.”
Benny Blanco is reportedly a "foodie," and for his wedding with Selena Gomez—he has planned to turn it into a "culinary event of the year." Sources told Life & Style , “Her fiancé is friends with so many chefs, it could end up being the culinary event of the year!” “Foodie Benny’s the most concerned about the menu — and is lobbying for a Taco Bell station during their cocktail hour!” they claimed. Insiders also added that the Love On singer is over the moon about her wedding with the music producer. “She’s excited to do all the normal bridal checklist stuff, like dress shopping, flower shopping, food tastings, with her friends,” the sources added that her longtime friend Taylor Swift also said to help her with the preparations. “She’s going to have a few outfit changes, and there won’t be a dry eye in the house when guests see her in her dresses," the tipster tattled about the wedding plans. Selena and Benny made their relationship public in December 2023. “He is my absolute everything in my heart,” the Grammy-nominated singer wrote at the time on social media.
Damian Williams to step down as Manhattan US Attorney ahead of Trump inaugurationThe diamonds of The Real Housewives of Beverly Hills were shining bright under the Miami sun for Bravo Fan Fest, where the taglines for Season 14 were revealed. Kyle Richards : “These hills have eyes, and they’re all staring at me.” Sutton Stracke : “I honor my fine southern manners by putting you in your place.” Garcelle Beauvais : “I’ve been in the game too long to play by someone else’s rules.” Erika Jayne : “In Beverly Hills, money buys a lot, but my independence? Priceless.” Bozoma Saint John : “Introducing the greatest product I’ve ever marketed... myself.” Dorit Kemsley : “I might look like a doll, but don’t wind me up.” Watch the RHOBH Season 14 taglines in the video below. RELATED : ‘RHOM’s Alexia Nepola Tears Up Over Son Frankie & How Split From Husband Has Affected Him; Reveals Where She Stands With Dr. Nicole Martin The new season of RHOBH starts with a feud between long-time friends Kyle Richards and Dorit Kemsley. In a recent interview with Deadline , Richards spoke about distancing herself from Kemsley as cameras picked up again. “Well, I always look at what people accuse you of, because it seems to be something that they would do to people. So that’s sort of how I looked at it,” Richards told Deadline. “I think that my text that she read at the reunion was very transparent. It was actually the complete opposite of a manipulation. I could not have been more transparent in what I said to her about not wanting to ruin a friendship over a reality show. And I think that was what was manipulative, was her reading that on camera, a private text...” Richards continued, “I mean, with any of the cast members all these years, no one’s ever done that to me, and I’ve never done that to them. So that was obviously very upsetting. And we came into the season in a bad place because of that. That was one of the things, so you’ll see us work through all that as much as we could through the season. But then we would kind of take one step forward, two steps back.”