Markets

A Cessna 441 turboprop crashed in Howland Township, Ohio, June 29, killing all six on board. The twin-engine aircraft, which took off from Youngstown, went down in a wooded area. The NTSB is investigating. This incident is the deadliest local aviation crash and occurs amid a recent increase in U.S. aviation accidents.

OpenAI’s Global Affairs account highlighted China’s AI progress, specifically praising Zhipu AI’s significant advancements and international reach. The Chinese firm, a key player in China’s self-reliant AI ecosystem, has deployed infrastructure globally. OpenAI analysts note Zhipu AI’s success in Western markets with localized versions of its products, presenting it as a growing contender in the AI race.

Qifu Technology, Inc. shareholders approved a rebranding to Qfin Holdings, Inc. and restated Articles of Association. Deloitte Touche Tohmatsu was reappointed as auditor, and Mr. Xiangge Liu will continue as director. These changes reflect the Chinese AI-powered Credit-Tech platform’s commitment to strengthening governance and identity in the evolving fintech sector.

A Rolls-Royce showroom visit in Hangzhou turned into a bizarre harassment case. After a cordial visit, a sales associate allegedly contacted a customer’s girlfriend, leading to a digital spat. This evolved into smear tactics, including false accusations of vehicle damage and anonymous, insulting texts and a package of turtles, implying cuckoldry. The customer’s information was reportedly shared by the dealership, and the associate’s mother allegedly harassed the customer’s ex-girlfriend, contributing to their breakup. The customer seeks accountability for the privacy breach and harassment.

Acrobatic duo Shi Lei and Fei Fei are taking a break, citing personal decisions and a lumbar injury sustained by Fei Fei. The performers, known for their gravity-defying acts and millions of online followers, will pursue individual paths. Their demanding training, including eight hours daily, pushed their bodies to the limit. They achieved national recognition on CCTV for their unique blend of ballet and acrobatics.

Faraday Future introduced its FX brand and the FX Super One MPV at a private preview in Los Angeles. The event showcased groundbreaking innovations like the FF Super EAI F.A.C.E. System and FF EAI Embodied Intelligence AI Agent 6×4 Architecture. A global public launch is set for July 17 in Los Angeles, marking the start of pre-orders for this mass-market, AI-enabled electric vehicle.

China’s new aviation directive bans uncertified power banks, increasing confiscations at airports. Passengers can surrender them, mail them out, or pay for temporary storage (up to seven days at some airports), after which they may be disposed of or sold for charity. Speculation exists regarding the resale of confiscated items online, with some potentially being faulty products.

Taiwanese actor Lung Fei, beloved for his role as Wei Xiaobao in “The Deer and the Cauldron,” passed away on June 24th at 76. Hospitalized in February, he was diagnosed with inoperable stage three liver cancer. A memorial service is planned for July 8th. Lung Fei left a significant mark on Asian television with his charismatic performances.

XPeng Motors CEO He Xiaopeng has ordered Xiaomi’s new SU7 EV, citing its strong product competitiveness. This move highlights the competitive yet respectful dynamic in China’s EV market. XPeng is also preparing to launch its G7 model. The SU7 is in high demand, with significant waiting times for locked orders, leading to a secondary market with resale premiums. Xiaomi advises locking orders for production visibility.

SEALSQ Corp has acquired a 28.30% stake in WeCan Group SA, a Swiss blockchain innovator. This strategic investment aims to accelerate the development of quantum-resilient, blockchain-based security solutions for finance, IoT, and Web 3.0. The partnership will integrate post-quantum cryptography, PKI, and blockchain compliance platforms, enhancing KYC/KYB solutions, fortifying IoT devices, and expanding decentralized identity offerings.