Markets

Raymond James Financial (RJF) has added a 16-member advisory team, formerly with M Financial Group, to its Raymond James Financial Services (RJFS) independent channel. Led by Thomas C. Rapp, Ronald J. Greenberg, and Patrick Maguire, the team manages approximately $1.8 billion in client assets. Based in Morristown, NJ, and West Palm Beach, FL, they specialize in wealth management strategies for ultra-high-net-worth families. This acquisition enhances Raymond James’ wealth management capabilities, bringing their total client assets to approximately $1.64 trillion as of June 30, 2025.

Lynk & Co. showcased its EM-P Super Range-Extended Electric Solution at the “CO:TALK” event in Zhengzhou. This hybrid system prioritizes electric driving and offers intelligent energy management for personalized experiences. The Lynk 08 EM-P, starting at RMB 192,000, is the first mid-to-large plug-in hybrid sedan from Lynk & Co., featuring standard all-wheel drive and advanced ADAS with the Thor chip, LiDAR, and Qianli Haohan H7 solution. It aims to redefine value in the hybrid sedan market.

Nvidia CEO Jensen Huang addresses AI anxieties, arguing AI will augment, not replace, humans. He believes AI lacks ingenuity and requires human input for creativity, ethics, and emotional intelligence. Huang emphasizes that the real threat is not AI itself, but people leveraging AI surpassing those who don’t. He dismisses doomsday scenarios regarding AI safety, advocating for robust engineering, redundant systems, and explainable AI, drawing a parallel to aviation safety practices. Transparency and ethical frameworks are crucial for maintaining public trust.

DLH Holdings (DLHC) secured a task order worth up to $46.9 million to provide IT services to the NIH’s Office of Information Technology. The three-year contract includes enterprise IT systems management, cybersecurity, software development, and cloud computing, supporting around 7,000 end-customers. DLH will implement a cloud migration strategy leveraging partnerships with Azure, AWS, and Google, focusing on digital transformation and system modernization. This strengthens DLH’s position in federal health IT and highlights its expertise in cloud and AI.

Sony officially exited the Russian market on August 11th, ceasing all business operations and closing its local office after 18 years. Documents for the closure were submitted in October 2024. This follows Sony’s suspension of operations in 2022 due to the Russia-Ukraine conflict, which included halting PlayStation shipments, closing the PlayStation Store, suspending film distribution, and shutting down Sony Music. Sony had provided free PlayStation Plus subscriptions to Ukrainians until the end of last year.

Geely Automobile Holdings reported strong first-half results with a 27% revenue increase to RMB 150.28 billion and a net profit of RMB 9.29 billion. Vehicle sales surged 47% to 1.409 million, driven by a 126% rise in electrified vehicle sales. The company has raised its full-year sales target to 3 million units and plans to launch five new NEV models. Geely emphasized its commitment to value, technology, and ethical practices, addressing concerns about “involution” and improving communication with users.

LICT Corporation reported its Q2 2025 financial results, with revenue increasing 2% to $34.4 million. Non-regulated revenue grew by 2% to $19.2 million, representing 56% of total revenue. Broadband and voice lines increased due to the acquisition of Manti Telephone Company. EBITDA for the quarter was $13.5 million, a decrease of 4.9% year-over-year. Joe Cecin was appointed as Chief Operating Officer. The company also announced the continuation of its Shareholder Designated Charitable Contribution Program, pending board approval.

In a CNBC interview, AMD CEO Lisa Su discussed topics ranging from export controls and AI’s transformative potential to competing with Nvidia and the Silicon Valley talent war. She playfully addressed the recurring question about her relationship with Nvidia’s Jensen Huang, revealing they are cousins through their maternal family lines. Su also emphasized AMD’s strategy of offering diverse solutions beyond direct competition with Intel and Nvidia. Her vision aims to showcase AMD’s unique capabilities to the world.

A Chinese woman’s reported 3.6-pound weight loss after a two-hour karaoke session has sparked online interest in singing as a weight-loss method. Her fitness tracker indicated a 350-calorie burn. Experts suggest singing can be a form of aerobic exercise, elevating heart rate and strengthening lung function. However, they advise against relying solely on karaoke for weight loss, emphasizing that while it offers cardiovascular benefits, traditional exercises are more effective. The enjoyment factor of singing may contribute to consistency and potentially boost metabolism.

Gree Electric Appliances quickly reverted its official WeChat service account name from “Gree Goodies Guide” back to “Dong Mingzhu Healthy Home” after just one day. This follows Gree’s strategic aim to transition its mini-program to “Dong Mingzhu Healthy Home”, circumventing WeChat’s policy against duplicate names. The public account needed to release the name for the new online storefront. This marks the fourth name change in just over a year, potentially reflecting an evolving branding strategy.