Markets

Mountain Province Diamonds (MPVD) is increasing its financial flexibility with a $10 million USD expansion of its bridge credit facility with Dunebridge Worldwide, bringing the total to $40 million USD. The “Additional Bridge Term Facility” shares the same maturity date and interest rate as the original. The deal requires shareholder approval due to Dunebridge’s related party status, using a “financial difficulty” exemption within MI 61-101. TSX conditional approval hinges on insider consideration remaining below a defined threshold.

DAT Freight & Analytics is acquiring the Convoy Platform from Flexport, enhancing its freight-matching capabilities. The acquisition brings automation, fraud prevention technology, and a mobile-friendly platform to DAT One. Key Convoy Platform personnel, including Bill Driegert, will join DAT. Flexport views the sale as beneficial for the industry, DAT, and themselves, after improving and decoupling the platform. DAT aims to integrate the Convoy Platform to offer brokers automated and manual freight-matching options, while carriers benefit from streamlined load discovery and faster payments.

China’s pioneering missing persons website, “China 寻亲网,” established in 2000 with over 57,000 reports, has abruptly shut down. This closure sparked debate, with some accusing commercialized “seeking relatives” KOLs of contributing to its demise. While early websites like “宝贝回家” and CCTV reality shows once dominated, short-video platforms now reign. The efficiency of these KOL-driven searches is now under scrutiny as users question their motives and the ethics of profiting from family reunions. Concerns arise about authenticity and the potential for exploitation.

Applied Industrial Technologies (AIT) will release its fiscal 2025 fourth-quarter results on August 14, 2025, before market open. An investor conference call will follow at 10 a.m. ET, accessible via webcast and phone. The call will discuss the quarter’s performance and future outlook. Replays will be available. Applied is a major industrial distributor and tech solutions provider serving diverse markets with MRO, OEM, and system install applications.

Xiamen Customs intercepted a shipment of calcium fluoride sludge, disguised as industrial material, at Dongdu Port. The substance, a semiconductor manufacturing byproduct, is classified as prohibited foreign waste under Chinese law. Importing foreign waste is illegal, and the shipment will be returned with a fine imposed. Criminal charges may follow. The sludge poses environmental risks like soil and water contamination and health hazards including fluoride toxicity and potential heavy metal exposure, impacting ecosystems and human health.

Joan Anderson, credited with popularizing the hula hoop, recently passed away at 101. Inspired by Australians twirling wooden hoops, Anderson introduced the toy to Wham-O, resulting in a handshake deal that launched a global craze. The Hula Hoop generated $30 million in two months, though Wham-O reaped most of the financial benefits. The Andersons settled a lawsuit for a small sum, highlighting the challenges inventors face within the toy industry regarding contracts and intellectual property.

Erayak Power Solution Group (NASDAQ: RAYA) closed a registered direct offering, selling 30,612,246 Class A ordinary shares (or equivalents) at $0.098 per share. This generated approximately $3 million in gross proceeds before deducting fees and expenses. The offering also included pre-funded warrants priced at $0.098 with a minimal exercise price.

In Q2 2025, Tencent’s QQ security center cracked down on malicious online activity, disabling 3.2 million accounts. The platform targeted “water armies” manipulating online trends by removing 30,000 groups and 580,000 pieces of related content. QQ also combatted harmful online subcultures impacting minors, deleting over 30,000 posts and comments and 200 related groups. Furthermore, 2.5 million fraud-related accounts were disabled due to increasingly sophisticated scams. These measures demonstrate QQ’s commitment to user safety and combating inauthentic online behavior.

China’s NAFR fined Haier Consumer Finance 2.35 million yuan (approximately $325,000 USD) for various violations, including misleading marketing, dubious debt collection, poor loan management, opaque fees, and violating consumer rights. Several executives received warnings and fines. The infractions related to actions before 2021, and Haier Consumer Finance stated it has taken corrective measures. This is not the first regulatory action against them; they were previously fined for credit information management issues. Despite the fines, Haier Consumer Finance has seen revenue and net profit growth since 2021.

Macy’s, Inc. announced early results of its cash tender offer, increasing the maximum amount to $250 million. The offer targets outstanding notes and debentures, prioritizing retirement based on a predetermined hierarchy. Early tenders exceeded the initial target, and Macy’s will accept specific amounts of each series. The Early Settlement Date is set for July 29, 2025. The company plans to use proceeds from a new senior notes offering and existing cash to fund the buyback, redeem other debt, and cover related expenses.