Markets

Beijing is launching a program offering interest subsidies on individual consumer loans from September 2025 to August 2026. The subsidies, capped at ¥50,000 per transaction, target purchases in sectors like automobiles, elder care, education, tourism, home improvement, electronics, and healthcare. Borrowers can receive an annual 1% interest subsidy, up to 50% of the loan’s interest rate. Individuals are eligible for a cumulative subsidy of ¥3,000 per lending institution. The initiative aims to boost domestic consumption, sparking debate about consumer financing choices.

Simon Property Group’s operating partnership is selling $1.5 billion in senior notes due 2030 and 2035 with a weighted average coupon of 4.775%. The offering, managed by firms like BBVA and J.P. Morgan, is expected to close on August 19, 2025. Proceeds will be used to redeem $1.1 billion in notes maturing in September 2025 and for general corporate purposes, potentially reducing unsecured debt. This move aims to optimize Simon’s debt profile amid changing interest rates. Risks include market conditions and forward-looking statements.

PetMed Express (PETS) announced the resignation of CEO Sandra Campos and CFO Robyn D’Elia. Board Chair Leslie C.G. Campbell is now Interim CEO, and Douglas Krulik is Interim Principal Financial Officer. The departing executives will receive severance packages, including 13 months’ salary and vested stock units, and will provide consulting for three months. The company is seeking permanent CEO and CFO replacements. Justin Mennen is Lead Independent Director, and the Audit and Compensation committees have new chairs.

VIP Play, Inc. and Vokol are partnering to introduce AI-driven, personalized audio experiences for sports fans. The collaboration will be showcased at the AI4 Conference in Las Vegas on August 13th, with a live demonstration by VIP Play CEO Les Ottolenghi. Vokol’s AI audio platform aims to revolutionize sports content creation, enabling rapid production of high-quality audio. This partnership aims to redefine fan engagement by blending AI technology with authentic storytelling.

The hashtag “#EvilCultivation#” has exploded on social media, racking up over 450 million views. Originating from Chinese fantasy novels, “Evil Cultivation” refers to unconventional, often dark, self-improvement methods. Now, it’s a playful trend focused on simplifying life, from unorthodox cooking hacks using beverages and rice cookers to bizarre dieting and fashion shortcuts. While offering instant gratification, these methods face criticism for potentially sacrificing long-term well-being for quick results, reflecting a broader societal anxiety and the youth’s search for achievable goals.

AI is rapidly transforming reality, evidenced by AI-generated content ranging from music impersonations to deepfake voices. Recent trends also include popular AI-driven art styles. This increasing presence of AI-generated material blurs the lines of authenticity and raises questions about its impact.

Actress Guan Le’s untidy home became the subject of debate during a recent television program. The show highlighted the cluttered state of her living space, sparking online discussion about personal lifestyles and standards of cleanliness. The controversy focused on the contrast between Guan Le’s public image and the perceived chaos of her private residence.

Photronics (PLAB) will participate in three investor conferences: Oppenheimer’s Technology Conference (virtual, Aug 13), TD Cowen’s Technology Growth Cap Summit (NYC, Sept 4), and Singular Research Investor Conference (NYC, Sept 10). Institutional investors should contact their representatives at the respective firms to participate. Photronics, a photomask technology leader, aims to provide insights into its strategy and the microelectronics landscape. The company has 11 manufacturing facilities across Asia, Europe and North America.

Hong Kong stocks saw mixed performance, with the Hang Seng Index rising slightly while the Hang Seng Tech Index dipped. U.S.-listed Chinese companies in Hong Kong showed varied results; Alibaba and Baidu declined, but Tencent Music Entertainment (TME) gained, driven by anticipation of strong earnings. TME’s Q2 2025 results revealed a 17.9% YoY revenue increase and a 33% rise in adjusted net profit. Online music services and subscriptions saw significant growth, with paying users reaching 124.4 million. Brokerage firms have issued positive ratings, highlighting TME’s content strategy and user engagement.

Former Intel CEO Craig Barrett argues that Intel’s survival is crucial for U.S. chip manufacturing dominance. He believes underinvestment hinders Intel’s ability to compete with TSMC and Samsung. Barrett proposes a $40 billion collective investment from Intel’s major customers like Apple, Google, and NVIDIA to secure domestic chip supply and potential price advantages. He also urges adoption of advanced technologies and tariffs on imported chips to boost demand. Some of his suggestions align with current U.S. policies and Intel’s existing technology investments.