Markets

T-Mobile US, Inc. finalized exchange offers for Array Digital Infrastructure’s senior notes, linked to their May 2024 Securities Purchase Agreement. The offers involved exchanging old Array notes due in 2033, 2069, and 2070 for new T-Mobile USA notes with matching terms. Concurrent consent solicitations amended indentures tied to the old notes. As of August 1, 2025, the exchange was completed, with settlement expected around August 5, 2025. D.F. King & Co., Inc. managed the exchange process. The transaction is a debt restructuring, with no cash proceeds received by T-Mobile.

China’s CAC is implementing a “license-and-display” system for online news, requiring platforms like Tencent and Douyin to identify licensed providers. Over 13,500 public accounts now display a red “V” insignia. The CAC aims to regulate online content, cracking down on illegal activities while potentially incentivizing licensed accounts with traffic support. Websites and platforms are also visibly displaying licensing information as part of this initiative.

Above Food Ingredients (ABVE) is merging with Palm Global Technologies, with ~90% shareholder support. ABVE appointed CBIZ CPA to regain Nasdaq compliance. Palm Global partners with Promax United to tokenize $1.5T in sovereign assets and launch a gold-backed stablecoin ($350B US gold). Fifteen African nations may adopt the stablecoin as official currency, adding over $100B in assets to Palm Global’s balance sheet. ABVE faces Nasdaq delinquency but anticipates audit completion within 4-6 weeks.

A *People’s Daily* commentary questioning the security of Nvidia’s H20 chip has sparked debate over potential “tracking” and “remote shutdown” vulnerabilities. Nvidia denies any “backdoors,” but China seeks verifiable proof of security, emphasizing cybersecurity’s importance. U.S. legislation, the “Securing Semiconductor Supply Chains Act,” proposes tracking advanced chips to prevent illegal diversion. Experts believe regulatory scrutiny targets potential risks associated with Nvidia’s products, aiming to ensure their security before widespread adoption in China. Verifiable evidence from Nvidia CEO Jensen Huang is needed to alleviate concerns.

Silicon Metals Corp. (CSE:SI) has received five-year exploration permits from the B.C. Ministry of Mining and Critical Minerals for its Ptarmigan Silica Project in British Columbia. The permits, effective from July 31, 2025, to December 30, 2030, authorize surface drilling, trenching, and bulk sampling of up to 2,000 tonnes. This milestone allows the company to explore the project’s high-purity silica potential. The project is wholly-owned by Silicon Metals and is located approximately 130 kilometers northeast of Prince George.

Texas Community Bancshares, Inc. (TCBS) reports a strong Q2 2025 with net income of $678,000, a significant increase from Q2 2024’s $348,000. First half 2025 net income reached $1.3 million, contrasting sharply with a $2.3 million net loss in H1 2024. CEO Jason Sobel attributes the success to higher-yielding commercial loans, net interest margin focus, and expense management. The bank is investing in technology and new products. Despite two large delinquent loan relationships, TCBS remains optimistic about future growth and shareholder value.

Barrick Mining (NYSE:B) released its Summary Sustainability Report, highlighting six years of ESG progress since its merger. The company has distributed over $70 billion to stakeholders and focuses on UN Sustainable Development Goals, workplace safety, and greenhouse gas emission management. Barrick is transitioning to renewable energy and investing in community infrastructure like schools, clinics, and water projects. The Summary Report offers a simplified overview of Barrick’s global environmental and social impact alongside the comprehensive 2024 Sustainability Report.

Sydney Sweeney’s American Eagle jeans ad is generating controversy for its perceived sexualization, racial insensitivity, and allusions to eugenics, despite supporting a charitable cause. While some praise it as anti-“woke,” neither Sweeney nor American Eagle have responded to criticisms. Despite the backlash, Sweeney’s endorsements, including past collaborations with Dr. Squatch and HeyDude, demonstrate her significant influence driving sales and boosting brand value: American Eagle’s stock surged 17% after the campaign launch. Her “Sydney Sweeney Effect” underscores her power in advertising despite controversy.

Washington Trust has received the Exemplary Worksite Health Award for the ninth year in a row from Blue Cross & Blue Shield of Rhode Island and the Greater Providence Chamber of Commerce. This award recognizes the bank’s commitment to employee well-being, as demonstrated by its comprehensive wellness program spanning physical, emotional, and financial health. Employee resource groups and consistently high satisfaction survey results further highlight Washington Trust’s dedication to a positive and inclusive workplace. The bank has received the award for over 15 years.

At the China Digital Entertainment Congress (CDEC) in Shanghai, Huawei highlighted HarmonyOS 5 and its impact on the gaming industry. HarmonyOS now powers over 10 million devices, with over 6,500 HarmonyOS games available. Fueled by technological advancements and content integration, China’s game market is booming, generating significant revenue both domestically and overseas. HarmonyOS’s architecture, performance, and openness are promoting high-quality game development. Huawei is empowering developers with AI, interconnectivity, and optimized performance via the Ark Engine, also expanding globally and supporting mini-games, with 8 million registered developers.