Markets

On June 23, 2025, Dr Ashleys Limited and Impact BioMedical Inc. announced a merger deal. Dr. Ashleys will acquire Impact BioMedical through a reverse merger, creating a new entity listed on the NYSE American. This strategic alliance merges Impact BioMedical’s innovative patents with Dr Ashleys’ resources and global reach, aiming to expedite the development of impactful therapies and expand global market access for biomedical advancements.

Jeff Bezos is set to marry Lauren Sanchez in Venice, Italy next week. The lavish wedding, planned by George Clooney’s wedding planners, will host 200 guests, including celebrities, and is expected to boost the city’s economy. However, the event has sparked protests from locals due to concerns about overtourism and its impact on Venice’s resources and infrastructure.

In Shenzhen’s gold market, “gold Labubu” accessories are booming, driven by young consumers. Retailers are selling phone charms, jewelry, and pendants, despite lacking authorization from the Labubu IP owner. This has prompted warnings of potential copyright infringement and unfair competition. Local authorities have announced inspections and will take action against unauthorized sales, leading some vendors to sell the items discreetly.

Hillhouse Capital is reportedly leading a potential acquisition of Starbucks China, with a management roadshow recently completed. Goldman Sachs values the business at $5-6 billion. The deal follows prior reports of Starbucks seeking strategic investors. Starbucks China generated $3 billion in revenue in 2024, but profit and growth slowed. The acquisition is driven by competition from domestic brands like Luckin Coffee, prompting Starbucks to expand into lower-tier cities and rural markets.

Desert Gold Ventures Inc. (DAU) has signed an option agreement to acquire a 90% stake in the Tiegba Gold Project in Ivory Coast. The project, located in a promising gold belt with significant exploration potential, boasts a large land package, proximity to existing gold mines, and compelling gold-in-soil anomalies. Desert Gold plans to aggressively explore, aiming to define drill targets.

Romoss and Anker are recalling power banks due to potential fire hazards, following reports of overheating and ignition issues. Beijing universities had previously banned specific Romoss models after explosion incidents. Romoss attributes the problem to component defects, while Anker cites a faulty component from a vendor. The recalls impact the companies’ reputations and pose logistical challenges as major delivery services, like SF Express, refuse to ship the potentially dangerous devices due to safety concerns.

A Chinese artist’s Ultraman-inspired grotto, carved into a cliffside, ignited both online buzz and scrutiny. Documented in a viral video, the ambitious project sparked debate over cultural appropriation. Authorities in Sichuan Province, a historical stone carving hub, highlighted the need for regulatory compliance. This artistic endeavor highlights the interplay between creative expression, cultural heritage, and government regulations in China.

Meituan is restructuring its instant retail operations, expanding offerings while withdrawing from unprofitable regions. The company assures no layoffs for full-time employees and honors job offers to new graduates. Meituan Select is undergoing strategic upgrades, including exploring new retail models. Employee compensation and benefits remain unaffected. Service shutdowns are underway in several provinces due to regional business adjustments.

Shenzhen University, a hub of innovation, is utilizing laser education projectors to enhance its learning environment. These projectors offer short-throw capabilities for interactive lessons, high-definition images with long lifespans, and eye-friendly, wide-angle viewing. This technology is transforming classrooms, supporting dynamic teaching, and providing clear, accessible presentations for all students.