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Everbright Securities: The competitive pattern of K12 teaching and training is expected to improve, and the leading profits of the industry will gradually recover during the year. Everbright Securities released a research report saying that with the clearing of the industry and the improvement of the competitive pattern of the industry, the leading profits will gradually recover (the utilization rate of leading outlets and the teacher's schedule rate will gradually increase under the optimization of the pattern), and the dark moment of the teaching and training industry has passed. Under the optimization of competition pattern, the release of K12 leader operating leverage has driven the performance to pick up, and the profitability is expected to continue to be repaired. In the past 24 years, the income of leading enterprises has increased rapidly and the profitability has improved with high certainty. In the future, it is still necessary to continue to pay attention to the policy direction, cover the education sector for the first time, and give an "overweight" rating.Biden's administration is striving to ensure a ceasefire in Gaza before January 20th. CNN quoted people familiar with the matter as saying that the administration led by US President Biden is "working increasingly closely" with officials of the new administration to achieve a ceasefire in Gaza before Trump is sworn in on January 20th.China Merchants Securities' salary adjustment: "The investment bank's salary is cut by half and the bonus is cancelled". It is reported that China Merchants Securities is taking more measures to reduce the salary. At present, the investment bank's salary is cut by half and the bonus is cancelled, so is the institutional department. A number of China Merchants Securities confirmed the authenticity of the above news to the trade wind, and also said that the "business entertainment expenses of the investment bank were basically cancelled". Affected by the slowdown of IPO rhythm, the equity business of China Merchants Securities Investment Bank has shrunk significantly. Wind data shows that since 2024, the amount of equity underwriting has been 8.181 billion yuan, down over 50% year-on-year.

Yin Xiyue, commander of the special forces of Korea, personally instructed to "pull members out of the National Assembly Hall". Guo Zhonggen, commander of the special forces of the South Korean Army, said when attending the question of the National Defense Committee of the National Assembly on the 10th local time that after the announcement of the emergency martial law, President Yin Xiyue "personally called me on a confidential phone and said," It seems that the minimum number of voters in the main assembly hall of the National Assembly has not yet reached, so hurry to break in and pull members out ". After hearing this instruction, Guo Zhonggen thought that it could not be implemented after consulting with the on-site commander; Because even if they broke into Congress in order to fulfill orders, the combat troops who entered Congress "will become lawbreakers in the future" and stopped their actions. Guo Zhonggen also said that he knew about the emergency martial law on the 1 ST of this month. At that time, the then Minister of National Defense, Jin Longxian, instructed him by confidential telephone that he would "control three places, including the National Assembly, the Central Electoral Management Commission and the office building of the Common Democratic Party, and six places, including a public opinion survey agency, and restrict the entry and exit of personnel in these places. On the night of the announcement of the emergency martial law, Yin Xiyue called Guo Zhonggen twice. The first time was to ask about the location of the special forces. The second time was at about 0: 30 am to 40 am on the 4 th, and the instructions of "pulling out members of parliament" were issued. (CCTV News)When asked who is in charge of South Korea, the South Korean President's Office stated that "there is no official position to provide".Institution: The European Central Bank is expected to hint that interest rates will be further lowered after this week. Pioneer analyst Shaan Raithatha said in a report that the European Central Bank is expected to cut the deposit interest rate by 25 basis points to 3% this week, and hinted at further interest rate cuts at the meeting on Thursday. The senior economist said that this should reflect the softening growth prospects and the increasing possibility that inflation will weaken more than expected. He said that the ECB can choose not to mention the statement that "as long as it is necessary, the policy will be limited enough". Vanguard continues to predict that the European Central Bank will accelerate the pace of interest rate cuts in early 2025 and reduce the deposit interest rate to 1.75% by mid-2025, slightly lower than the neutral level.

Many European countries suspended the acceptance of Syrian asylum applications. On the occasion of the drastic changes in Syria, many European governments announced on the 9 th that they would suspend the acceptance of Syrian citizens' asylum applications. According to media reports, countries that have announced the suspension of accepting applications include Germany, Austria, Britain, France, Belgium, the Netherlands, Switzerland, Denmark, Sweden, Norway and Italy. The Greek government is scheduled to meet on the 13th and then announce the final decision. Germany has now taken in nearly one million Syrians, the largest in Europe. Syria remains Germany's largest source of refugees this year. According to data from the German Federal Office for Migration and Refugees, as of the end of November, more than 72,000 asylum applications were received, of which more than 47,000 had not completed the approval process. The German government said that the suspension of the application will not affect those who have been approved to take refuge in Germany.Institution: The European Central Bank is expected to hint that interest rates will be further lowered after this week. Pioneer analyst Shaan Raithatha said in a report that the European Central Bank is expected to cut the deposit interest rate by 25 basis points to 3% this week, and hinted at further interest rate cuts at the meeting on Thursday. The senior economist said that this should reflect the softening growth prospects and the increasing possibility that inflation will weaken more than expected. He said that the ECB can choose not to mention the statement that "as long as it is necessary, the policy will be limited enough". Vanguard continues to predict that the European Central Bank will accelerate the pace of interest rate cuts in early 2025 and reduce the deposit interest rate to 1.75% by mid-2025, slightly lower than the neutral level.Xinhua Commentary People's Livelihood is no small matter | Big data "killing": Don't let the algorithm be cold-hearted. The special action of "Clear Network Platform Algorithm Typical Problem Governance" is being carried out, and it is clearly required to focus on rectifying and using algorithms to implement big data "killing" and other issues. For some time, many consumers have been inadvertently "calculated" by the algorithm, and special actions have sent a signal to resolutely rectify this chaos. Algorithms quietly affect daily consumption patterns. The algorithm not only promotes the development of digital economy efficiently and accurately, but also erodes consumers' rights and interests in the form of big data "killing". Nowadays, the algorithm may know more about my consumption habits than consumers. Different people book the same flight and the same cabin ticket at different prices. After an APP is used many times, it can no longer receive a large amount of coupons, but it is more expensive for members to book hotels ... As the algorithm is deeply embedded in daily consumption, the "killing" method of big data is refurbished, becoming more and more hidden and complicated. "Killing customers" infringes on consumers' right to know and choose. Algorithms must be law-abiding. Pricing should be based on honesty, and the platform cannot "tailor-made" the price for consumers according to "user portraits" such as age, occupation and consumption level. The so-called "algorithms" that harm the legitimate rights and interests of consumers and undermine the normal and fair competition order in the market must be severely cracked down according to law. Algorithms are not profit-makers. The "killing" of big data is a technical problem and a procedural problem on the surface, but it is actually a social problem and a credit problem. Behind the algorithm is the value choice of the enterprise. Perhaps the cleverness and calculation of "random discount" can bring short-term benefits to business expansion, but in the long run, it will continue to erode the trust of consumers and damage the corporate image, which will lay a disaster for the sustainable development of the whole industry. The algorithm should be good. The use of the algorithm should find an appropriate balance between technological progress and ethical norms, and continue to explore the establishment and improvement of a normalized supervision mechanism. Properly protect users' privacy and experience, rebuild trust with consumers, and make good use of the platform of the algorithm to achieve long-term results. The application of new technologies will bring new products and new formats, as well as new impacts. "Clear network platform algorithm typical problem management" is not a gust of wind, but to continue to let everyone really feel the convenience of new technology. (Xinhua News Agency)