Markets

Former Meizu executive Li Nan sparked debate on CNBC AI News by criticizing the extremist elements within Xiaomi and Huawei fanbases. He observed that Huawei’s most extreme fans display poorer conduct, often deploying nationalistic arguments and resembling “coal barons.” Discussions evolved to include classifications of fans and their motivations, with Li Nan favoring the “stupid but poor” scenario for maximizing readers’ happiness.

The U.S. and Hong Kong are racing to regulate stablecoins, signaling a global monetary shift. The “GENIUS Act” aims to link stablecoins to U.S. debt, potentially boosting demand, while Hong Kong offers a more flexible approach, attracting innovative financial institutions. This regulatory competition is a battle for influence in the digital economy, mirroring the struggle for traditional currency dominance. Stablecoins are positioned to be key players in future cross-border payments and financial ecosystems.

Orange County Bancorp, Inc. (OBT) announced a public offering of 1,720,430 shares at $23.25 each, potentially raising $40-$46 million in gross proceeds. Funds will support general corporate purposes, including growth initiatives, capital strengthening, and potential acquisitions. The offering, managed by Piper Sandler and Stephens, is expected to close June 5, 2025. Investors should review SEC filings for details.

The value of higher education is again debated, fueled by questioning its worth. Commentator Zhang Xuefeng’s blunt response criticizing those doubting education’s value ignited further discussion. Critics point to hypocrisy among those pushing academic achievement while claiming degrees are useless. Others suggest degrees still hold value in a competitive job market, opening doors to opportunities. The debate reflects the evolving challenges graduates face.

Xiaomi CEO Lei Jun highlighted the SU7’s success as proof of their focused automotive strategy. Lei contrasts their single-model approach with competitors, emphasizing their proven “Xiaomi Model” methodology. Early interest in the upcoming YU7 surpasses that of the SU7, attracting a wider audience. While optimistic, Xiaomi remains cautious, accelerating preparations for the YU7’s launch, aiming for further growth.

AVITA Medical’s RECELL system, including RECELL GO, has won the “Best New Technology Solution – Surgical” award in the 2025 MedTech Breakthrough Awards. This FDA-approved system for burn and skin defect treatment utilizes smaller donor skin grafts, leading to faster recovery and reduced hospital stays. Dr. Katie Bush also received the 2025 Emerald Pinnacle Healthcare Award. AVITA Medical is dedicated to revolutionizing wound care with innovative solutions like Spray-On Skin™ Cells and PermeaDerm®.

Xiaomi CEO Lei Jun stated the company will avoid a price war, focusing on sustainable growth in the automotive sector. Xiaomi aims for a long-term hardware profit margin capped at 5% and plans to produce its own automotive chips. The YU7 standard edition pricing will be decided just before launch. The company projects its automotive, chip, and other new ventures will achieve profitability in Q3 or Q4, supported by strong Q1 performance and significant investment in intelligent driving system R&D.

Barrick Gold sold its 50% stake in the Donlin Gold Project in Alaska for $1 billion to Paulson Advisers and NOVAGOLD. This strategic move reflects Barrick’s portfolio recalibration, focusing on resource allocation and streamlining operations. The divestiture, involving one of North America’s largest undeveloped gold deposits, frees up capital for Barrick to pursue new ventures or enhance existing ones, attracting keen Wall Street attention.

Bicara Therapeutics (BCAX) will present at the Goldman Sachs 46th Annual Global Healthcare Conference. Management will host a fireside chat on June 10th to discuss the company’s strategy and pipeline. The presentation will focus on their clinical-stage bifunctional therapies, particularly their lead program, ficerafusp alfa, designed to treat solid tumors by overcoming challenges in the tumor microenvironment. A webcast replay will be available.

Asana has been named a Leader in Forrester’s Collaborative Work Management (CWM) Tools, Q2 2025 report. The company received its highest score in the Strategy category, excelling in Vision, Innovation, and Roadmap. Asana’s vision focuses on human and AI collaboration, offering features like AI Studio and Smart Workflow Gallery to enhance productivity and streamline workflows. The platform aims to connect work with core objectives and provide transparency, supporting businesses navigating an AI-driven landscape.