Markets

Summer 2025 sees a seismic shift in car rentals, driven by demand for autonomy and experience. Domestic rentals are projected to surge 40% YoY with international bookings jumping 60%, fueled by Millennials (70% of users) and Gen Z (70% YoY growth). Transparent pricing now covers 60% of short-term rentals (+30pp YoY), resolving historical fee disputes. Social media accelerates experiential travel, with 38% of bookings influenced by “Instagrammable” themes like dopamine road trips and glamping. Gen Z’s 230% growth in EV rentals and off-grid destination demand (+70% in tier-4 cities) signal structural industry change toward emotional engagement and trust-driven consumption.

Zhengzhou hotel operators accuse Trip.com of unauthorized rate modifications via an automated tool, prompting a regulatory probe. Authorities are gathering evidence of price discrepancies up to 20 yuan ($2.75) from merchant-set rates. While Trip.com claims the tool helps hotels stay competitive and allows opt-outs, over 110 complaints allege reactivation without consent. Legal experts warn violations of China’s Price Law and anti-competition regulations, highlighting tensions between platform rate control and merchant pricing autonomy. The case tests updated e-commerce laws amid growing scrutiny of China’s $100B online travel sector dominated by Trip.com.

Pony AI has initiated mass production of its seventh-generation robotaxi platform through partnerships with GAC (June 2025) and BAIC (July 2025), advancing commercialization. The new system achieves full automotive-grade component certification, reduces autonomous hardware costs by 70%, and features scalable architecture for cross-vehicle adaptation. Targeting deployment of 1,000 operational vehicles globally by late 2025, the company is conducting extensive road testing in Guangzhou and Shenzhen. These advancements position Pony AI to overcome scalability barriers and set industry benchmarks for cost-efficient autonomous fleet deployment.

Microsoft announced its second major workforce cut this year, eliminating approximately 9,000 jobs (under 4% of its workforce) to streamline operations, with controversy erupting over revoked unvested stock awards from laid-off employees. Former Xbox developer Noble Smith criticized the policy as stripping potential family education funds, sparking debate on compensation ethics during layoffs. Analysts note competitors sometimes accelerate vesting as goodwill, while Microsoft’s stock clawbacks amid record share prices could save hundreds of millions. The dispute underscores tensions between cost-cutting measures, employee retention, and transparency in equity-based compensation models across the tech sector.

Major food delivery platforms face systemic exploitation by shadowy brokers enabling unlicensed “phantom kitchens” to operate as legitimate chains, despite technological upgrades and subsidy-driven market competition. Third-party intermediaries charge fees to fraudulently register residential kitchens using fabricated licenses and brand affiliations, evading audits through master account loopholes. Operators append established brands with location tags while avoiding direct oversight, with brokers offering turnkey solutions including fake kitchen videos for platform verification. While claims of operational stability prevail absent major incidents, consumers remain unaware their orders originate from uninspected home kitchens. This gray-market ecosystem highlights vulnerabilities in platform governance and food safety controls.

Mobileye (MBLY) priced Intel’s secondary offering of 50 million Class A shares at $16.50 each, with underwriters holding a 30-day option for 7.5 million additional shares. The offering, closing July 11, 2025, requires Mobileye’s concurrent repurchase of 6.23 million shares from Intel, approved by its board. Post-closing, Intel intends to convert 50 million Class B shares to Class A to expand the public float but will retain ownership. Mobileye will not sell shares or receive proceeds. Goldman Sachs and BofA lead the underwriting, supported by major banks. The offering is subject to SEC registration and standard closing conditions.

At the Global Digital Economy Conference, Beijing unveiled plans for AI-powered “data-smart cities” featuring optimized governance and integrated intelligence hubs. 5G emerged as a key diplomatic and technological tool, enabling real-time applications like holographic streaming and fueling a projected $1.3 trillion smart city market by 2035. The integration aims to create cities that anticipate urban needs.

At the ITU’s Geneva “AI for Good” summit, New Oriental founder Yu Minhong addressed the middle-age crisis. He described it as a normal, critical inflection point offering a choice: embrace renewal for a “second spring” or risk decline. Yu advised setting new life goals and persistently tackling challenges head-on via “cumulative small wins.” He exemplified this resilience through his own experience steering New Oriental’s dramatic pivot from near-collapse in education to success in live-streaming commerce via Oriental Selection.

**(98 words)**

PJX Resources raised C$1.65M via private placement to fund exploration at its Dewdney Trail Property in BC, near the historic Sullivan Mine. Financing includes flow-through shares (CA$0.14) and standard units (CA$0.12) with warrants. Recent findings show Sedex horizons like those at Sullivan, with surface samples up to 8.2% zinc and 42g/t silver. Aggressive drilling starts July 15, targeting potential large-scale mineralization amidst low zinc inventories. Risks include share dilution and early-stage exploration status.

BYD announced a breakthrough in Level 4-like autonomous parking on July 10, pledging full financial liability for accidents during smart parking using its Tianyan Eye system in China, bypassing insurance. Competitors vary: Harmony Smart Mobility covers repairs up to 50,000 yuan for specific models under a 12-month plan, XPeng requires a 239-yuan annual insurance package, while Tesla, Li Auto, and Xiaomi rely entirely on commercial insurance, risking premium hikes post-claims. BYD’s policy sets a new industry standard for risk accountability.