Markets

Apple’s latest earnings report shows a rebound in iPhone sales in China, driving a 4.35% revenue increase in the Greater China region. CEO Tim Cook noted iPhone users in China are at an all-time high, crediting government subsidies. Apple also touts strong sales for Mac, iPad, and Apple Watch. The MacBook Air is reportedly the best-selling notebook and the Mac Mini the top desktop in China, with iPhone holding the top three smartphone spots.

A 14-year-old girl in Anhui gained popularity on Douyin for selling beach toys. Her father documented her 25-day entrepreneurial venture, which generated over 2,000 yuan. While initial success drew praise, increased competition led to a decline in sales, prompting her to plan to discontinue the business soon. Commenters highlighted the value of her experience in fostering independent thinking, social skills, and understanding the value of labor beyond traditional education.

The Ether Machine (DYNX) invested $56.9M to acquire 15,000 ETH at an average of $3,809.97 per ETH, marking Ethereum’s 10th anniversary. This brings their total ETH holdings to 334,757, with $407M allocated for future purchases. This deployment from a $97M private placement signals a strong institutional commitment to ETH and positions DYNX as a significant accumulator. Concurrently, Chairman Andrew Keys donated $100,000 to Protocol Guild, supporting Ethereum’s core development.

Apple’s fiscal Q3 2025 saw a revenue boost due to accelerated device purchases driven by consumer anxiety over potential tariffs, contributing one percentage point to the company’s 10% year-over-year revenue growth. Initial tariff announcements led to speculation about significant iPhone price increases, prompting consumers to buy early. Apple absorbed $800 million in tariff expenses in the June quarter and anticipates $1.1 billion in the September quarter, potentially leading to a $50 price increase for the iPhone 17 series models.

Chinese retailer Pang Dong Lai has refuted online claims falsely attributed to them regarding job losses resulting from e-commerce decline. The company stated they never released content suggesting “If e-commerce collapses, 5 million people will lose their jobs.” They urged the public to verify information and avoid misinformation. Pang Dong Lai reported strong first-half sales of RMB 11.707 billion. Founder Yu Donglai announced ambitious 2025 targets focused on profits and employee compensation, indicating a commitment to talent retention.

Saba Capital Income & Opportunities Fund II (SABA) announced the composition of its July 31, 2025 distribution, in accordance with SEC regulations. The distribution of $0.058 per share is comprised of $0.04284 (73.87%) net investment income and $0.01516 (26.13%) return of capital. Year-to-date, distributions total $0.464 per share, with $0.179 (38.58%) from net investment income and $0.285 (61.42%) from return of capital. Investors are advised not to equate distribution amounts with fund performance. Saba Capital Management, L.P. is now the investment advisor.

AuthID (AUID) will release its Q2 2025 financial results on August 14, 2025, after market close. A live webcast hosted by CEO Rhon Daguro and CFO Ed Sellitto will follow at 5:00 p.m. ET to discuss the results and provide a company update. Registration is required to join the call. A replay and presentation materials will be available on authID’s Investor Relations Events page for 90 days. AuthID is a biometric identity verification and authentication solutions provider.

Erayak Power Solution Group (RAYA) announced a $7 million registered direct offering, selling 107,692,307 Class A ordinary shares at $0.065 each. The offering, expected to close around August 1, 2025, includes pre-funded warrants with a $0.0001 exercise price. Craft Capital Management is the sole placement agent. This infusion of capital aims to bolster Erayak’s financial position, but the issuance of a large number of new shares will likely cause significant dilution for existing shareholders.

A tech company employee, Li, exploited his position as account manager for a beer company’s marketing campaign to embezzle 6.5 million yuan ($900,000 USD). Li manipulated the system to generate fake winning QR codes, which he and his associates redeemed. The scheme, lasting over a year, was discovered after an audit revealed unusually high prize payouts. Li was found guilty of embezzlement and sentenced to six years in prison with a 100,000 yuan fine.

A couple in Chongqing was detained for posing as Meituan delivery drivers and running a street-level begging scam. They falsely claimed to need money for their son’s surgery. Meituan confirmed the man had briefly registered as a rider in 2019 but deactivated his account in 2023. He purchased a uniform online to exploit public sympathy. Meituan warned against impersonating riders and highlighted its support programs for legitimate riders, including financial assistance for critical illnesses.