Markets

Ingram Micro Holding Corporation is experiencing a system outage due to a detected ransomware attack on its internal systems. The company has taken affected systems offline, engaged cybersecurity experts, and notified law enforcement. They are working to restore operations and apologize for disruptions.

Meituan’s instant retail platform experienced an unprecedented surge on July 5th, processing over 120 million orders, with food delivery exceeding 100 million. This marked the start of the summer season and led to temporary server disruptions due to overwhelming demand. Meituan assured users and merchants that services were restored and negative impacts would be mitigated.

Consumer electronics brand Roman has announced a six-month suspension of operations starting July 7, 2025. Most employees will be placed on leave, receiving their salary for the first month and 80% of the local minimum wage thereafter. This comes amidst reports of revoked employee access and prior consumer complaints about unfulfilled refunds, despite the company denying bankruptcy rumors.

U-Haul is offering 30 days of free self-storage and U-Box services to residents in the Austin metropolitan area affected by recent devastating floods. This initiative, expanded from San Antonio, aims to provide crucial, secure storage for property cleanup and recovery efforts. The offer applies to new rentals at participating U-Haul centers.

Chinese men are reportedly spending billions of dollars annually on high-end mechanical keyboards, gaming controllers, and RGB lighting. This trend, often dubbed the “electronic garbage trio,” sees expensive peripherals reselling for inflated prices. While these purchases offer psychological relief from workplace stress, they contribute significantly to e-waste, with products having short lifespans. The consumption pattern is linked to a desire for control and tangible feedback, creating a cycle of temporary anxiety relief.

AI powered glasses are rapidly gaining traction, with Xiaomi selling 50,000 units in three days. This emerging category is driven by technological advancements, manufacturer initiatives, and consumer demand, projected for massive growth. Companies like DPVR are leveraging VR expertise to create practical, user-friendly AI glasses designed to integrate seamlessly into daily life, marking a significant shift in consumer electronics towards “seamless intelligence.”

Economist Li Daokui advocated for government subsidies to help automakers like Xiaomi Auto expand production capacity, addressing demand-supply gaps in the EV market. He proposed RMB 100 million per production line for companies exiting, matched by firms like Xiaomi, to facilitate asset exchange. Li also suggested increasing national debt issuance to 40-50% of GDP to replace local government debt, enabling better public service provision.

Alibaba co-founder Jack Ma was spotted enjoying the Mediterranean sunshine on a superyacht in Saint-Tropez, France, looking relaxed and capturing the scenery. This follows a recent sighting of him in Belgium, engrossed in his smartphone. These appearances suggest Ma is embracing a life of leisure and exploring diverse global locations.

A Huawei M9 owner caused a collision while using the intelligent driving mode. Police assigned full responsibility to the owner, Mr. Zhang, who then demanded over a million yuan in compensation, including for emotional distress and cancer risk. Netizens criticized his demands as extortion, emphasizing driver responsibility for Level 2 ADAS. Negotiations are ongoing, with authorities investigating.

China’s Football Association launched an innovative player self-recommendation system, attracting over 25,000 registrations. The system, involving registration, information and technical data submission, and multi-stage screening, has already identified 303 promising players, including international talent. This initiative aims to broaden talent identification, enhance transparency, and combat corruption, signaling China’s serious football ambitions.