Markets

KeyBank secured naming rights for the Pro Football Hall of Fame’s new event center, to be named KeyBank Center, opening in 2027. The multi-purpose venue will feature a VIP club, rooftop event space, and educational programming, boosting local tourism and economic activity. The partnership includes engagement with Hall of Fame legends and a financial literacy program, marking KeyBank’s commitment to Northeast Ohio and the community. Groundbreaking is set for fall 2025.

Chinese consumers are increasingly criticizing restaurants for alleged “double standards,” using fresh ingredients for dine-in customers but cheaper, frozen substitutes for takeout orders. The Jiangsu Provincial Consumer Rights Protection Committee (JSCRPC) argues this differential treatment violates consumer rights to fair dealing and transparent information. Key concerns include ingredient quality discrepancies, smaller takeout portions, and inflated delivery prices. The JSCRPC emphasizes that consumers deserve consistent quality regardless of consumption method, and experts warn against exploiting informational asymmetry, raising issues of transparency and ethical practices in the food delivery sector.

Didi Chuxing has launched “Four-Wheel Errand,” a luggage transfer service utilizing its private car fleet. Aimed at easing travel burdens, the service facilitates seamless luggage transportation, targeting vacationing families and business travelers. Didi is partnering with InterContinental Hotels Group (IHG), piloting the service at over 300 Holiday Inn Express hotels in Shanghai, Beijing, and other cities, with plans to expand to other IHG brands and transportation hubs. This move expands Didi’s service offerings and caters to the tourism sector’s needs, offering a “travel light” experience.

Boba Mint Holdings has completed its acquisition of the remaining 50% of Werd Studios, a blockchain gaming company, for $1.4 million, issuing 7 million common shares to Werd’s CEO, Andrew Shore. Werd Studios brings blockchain/crypto games like Cafe Disco Party and Moon Poker. The issued shares are subject to lock-up periods. Shore’s ownership in Boba Mint doubles to 13.04%. Negative aspects include share dilution and lengthy lock-up periods which require monitoring.

In Anshan, China, a man’s unlocked Toyota was entered by three minors who stole the keys and subsequently his Mercedes-Benz. The abandoned Mercedes was recovered 100km away after running out of fuel. Two suspects, ages 13 and 14, have been apprehended. Due to their age, they may not face criminal charges, but the owner’s negligence in securing his vehicle could lead to partial liability. Insurance coverage is complicated by the owner’s negligence and legal limitations regarding minors’ responsibilities. The guardians may be responsible for compensation and care.

A LatePost report reveals an intense battle between Meituan and Taobao in China’s on-demand delivery sector, focusing on “lightning warehouses.” These online-only convenience stores offer rapid delivery of essential goods. The platforms are fiercely competing for key merchants, employing tactics such as pressuring them to adjust prices or limit rival platform operations. Merchants express concerns about platform dominance and data control, navigating the pressures of this competitive landscape. The future of this rivalry and merchants’ roles remain uncertain.

BioArctic’s Q2 2025 royalties surged to SEK 162.5 million due to strong Leqembi (lecanemab) sales, developed with Eisai, reaching JPY 23.1 billion. This included a one-time China stockpiling effect of JPY 5.3 billion. Excluding this, sales were JPY 17.8 billion, with royalties of approximately SEK 125 million. BioArctic will release its full Q2 report on August 28, focusing on Leqembi’s sustainable growth. Leqembi, targeting early Alzheimer’s, is approved in 46 countries and under review in 10 more.

Two former SpaceX employees are suing the company, alleging safety concerns were ignored in favor of speed and cost, leading to their wrongful termination. One plaintiff, a former supervisor, claims he was fired after raising warnings about a potentially dangerous rocket recovery process. The lawsuit highlights instances of excessive work hours, unreported injuries, and a culture of prioritizing deadlines over safety. OSHA data reveals SpaceX’s Starbase facility has a higher injury rate than the aerospace manufacturing average. Another plaintiff alleges termination after workplace injuries.

After being missing for three days, Xiaoying, a 15-year-old with intellectual disabilities, was found in Dongguan, China, thanks to police, volunteers, and Douyin (TikTok). Police found her wandering alone and contacted the “Let Love Come Home” volunteer group, who posted a video on Douyin. Xiaoying’s sister in a distant province recognized her and contacted the volunteers. Remarkably, the same group had previously helped reunite Xiaoying with her mother, who’d been missing for three years. Volunteers are now helping the family, highlighting the power of social media in finding missing persons.

A new scam targets older TikTok users by impersonating customer service. Fraudsters use scare tactics, claiming account issues like unauthorized services or security risks, to trick users into downloading software and sharing their screens. They then remotely access devices and steal funds. TikTok warns users that official support will never request software downloads or screen sharing. Users should verify contacts through TikTok’s official channels and be wary of unsolicited service termination requests or fee warnings.