Markets

PG&E, Fremont Unified School District, and The Mobility House launched a V2G electric school bus fleet, enabling the buses to feed energy back into California’s grid. The project features 22 EV chargers and 14 electric buses, replacing traditional combustion engine vehicles. Utilizing The Mobility House’s ChargePilot, the fleet participates in PG&E’s Emergency Load Reduction Program, enhancing grid reliability during peak demand. This initiative, supported by various partners, aims to create a cleaner and more resilient energy ecosystem.

On August 11th, the Chinese AI model DeepSeek experienced a widespread service outage, impacting its API, website, and mobile app. The incident sparked widespread complaints on Weibo under the hashtag #DeepSeekDown. DeepSeek reported the issue was identified and resolved between 21:55 and 23:39. DeepSeek gained popularity in early 2025, surpassing ChatGPT in US app downloads and reaching 30 million daily active users faster than any other app.

Yang Shuncheng, a former Chinese Academy of Sciences doctoral candidate, transitioned to entrepreneurship, opening the “Muye Gongchao” guesthouse. Despite facing criticism for leaving academia, Yang defends his decision, emphasizing the value of his education in shaping his thinking. His venture has proven successful, reportedly generating ¥4 million (approximately $550,000 USD) annually. Registered in 2023 with a substantial capital, the company’s business includes comprehensive hospitality services.

UBS Global Wealth Management US has opened a new flagship office in downtown Napa, California. This move signifies UBS’s increased commitment to the region and its affluent clientele within the Napa Valley economy. The 4,000-square-foot office features modern facilities and panoramic views. According to UBS executives, the new office is designed to enhance client service and integrate more deeply into the Napa community. UBS aims to provide exceptional service and personalized advice to meet client’s needs. UBS has operated in the Napa area for over 30 years.

Taobao Flash Delivery is upgrading its riders’ uniforms with a Formula 1-inspired design for the autumn season. The orange and black uniforms feature reflective strips for safety and are branded with various Alibaba logos. This stylish update coincides with significant growth in Taobao Flash Delivery’s rider network, with monthly active riders up 181% and crowdsourced riders increasing by 236%. More riders are also earning over 10,000 yuan monthly, reflecting the rising demand for efficient delivery services.

A hiker missing for two weeks in the restricted D督门 area of the Qinling Mountains was found with a leg injury after falling into a ravine during an illegal trek. Experts cite the range’s dangers and regulations prohibiting unauthorized passage. This incident, involving thrill-seekers flouting rules, strains rescue resources and ecosystems. It emphasizes the need for responsible tourism, ethical exploration, and regulation of content promoting dangerous activities on social media, preventing risks and protecting environments.

Avantor reaffirmed its commitment to shareholder value after Engine Capital’s letter, highlighting strategic efforts to drive growth and returns. Key actions include a new CEO appointment (Emmanuel Ligner, starting August 18, 2025), a $400M cost transformation, business resegmentation, and significant debt reduction ($1.5B). The company emphasizes its robust product portfolio, distribution network, and life sciences relationships, expressing confidence in future value creation under Ligner’s leadership and welcomes continued shareholder dialogue.

Nanning Yunguitong Technology faces a social media controversy in China over its young leadership, including a 17-year-old Chairman. The company defends its executive’s eligibility under Chinese Civil Code Article 18, which grants full civil capacity to employed minors aged 16+. Yunguitong asserts compliance with all regulations, emphasizing that registration details are accurate and its objectives align with legitimate, socially responsible business activities. The company also participates in the China International College Students’ Innovation Competition.

Visionox and Hefei Guoxian’s Gen 8.6 AMOLED production line, the world’s first using FMM-less (ViP) technology, has completed its main building in Hefei, China. The RMB 55 billion project aims for a monthly capacity of 32,000 glass substrates and achieved this milestone in just 168 days. ViP technology offers improved resolution, power consumption, and lifespan compared to traditional FMM AMOLED, potentially disrupting the display industry and accelerating AMOLED adoption in mid-to-large size displays.