Markets

E3 Lithium Ltd. is nearing completion of Phase 1 of its Demonstration Facility in Alberta, Canada, focused on Direct Lithium Extraction (DLE). All major equipment is assembled, and infrastructure integration is underway. Commissioning, starting with brine introduction to optimize the DLE system, is targeted for late August. The facility aims to produce high-quality lithium chloride for battery-grade lithium carbonate production. E3 Lithium holds a substantial lithium resource base and a promising Pre-Feasibility Study on its Clearwater Project.

A Chinese court rejected a lawsuit filed by a man seeking compensation after his mother tripped over another passenger’s luggage at a train station and later died. The court ruled that the woman, Ms. Wang, who was walking against the flow of traffic, was responsible for her own fall. Mr. Zhang, the passenger with the luggage, had no way to anticipate her actions and was not found negligent. The court cited the Civil Code of the People’s Republic of China in its decision.

Zhou Guanyu’s move to Scuderia Ferrari for the 2025 F1 season stems from his lifelong fandom and the team’s confidence in his potential. As revealed on Sina’s “Beyond the Heatwave,” Zhou, a Ferrari Driver Academy alumnus since 2014, sees Ferrari as the “ultimate destination” for his career growth. Officially announced as a reserve driver on February 5th, 2025, the move excites the Chinese racing community. Zhou departs Sauber after three years, having secured 16 championship points, proud of representing China as its first F1 driver.

An LED lamp shaped like the Hiroshima atomic bomb’s mushroom cloud has sparked intense outrage in Japan. Marketed with names referencing the event and reportedly popular in China, the product, often paired with a Hiroshima miniature, is viewed by Japanese netizens as a desecration of history and commercialization of pain. The backlash highlights lingering emotional wounds and a perceived lack of humanitarian sensitivity from Chinese sellers, reigniting debate surrounding the bombing’s complex moral and historical implications.

DigitalOcean priced $550M in convertible senior notes due 2030, up from $500M, in a private offering. They’ll use $73.81M for capped call transactions against dilution and the rest with term loans to repurchase $1,131.3M of existing 2026 notes, extending repayment & potentially benefiting from interest rates. Initial conversion is 25.5317 shares/$1,000 note (39.17/share, 32.5% premium). DOcan redeem notes starting 2028 if share price exceeds 130% conversion price. A new $100M stock repurchase program was also authorized.

In June, 17 Chinese automakers pledged to cap supplier payments at 60 days. Two months later, some companies, including FAW, Dongfeng, and GAC, are actively working towards this goal, with three already achieving it. Companies are adjusting financial strategies and streamlining processes. This commitment aligns with upcoming regulations mandating 60-day payment terms for SMEs, aiming to improve the business environment and alleviate payment arrears. CCID highlights specific initiatives by FAW, GAC, and SERES.

Shenzhen-based Romoss, a portable charger manufacturer, is advertising a Gifts Channel Sales representative position after facing scrutiny due to product safety issues, production halts, and layoff accusations. The role, based in Nanshan, requires a bachelor’s degree and three years of experience, offering a monthly salary between ¥12,000 and ¥30,000. This recruitment follows reports of employee dissatisfaction, management changes, and rumors of bankruptcy, which Romoss denied on Weibo.

Ligand Pharmaceuticals (LGND) priced $400M convertible senior notes due 2030 in a private placement. The notes have a 0.75% interest rate and an initial conversion price of $194.79 per share, a 32.5% premium. Ligand expects $386.9M net proceeds, using $39.9M for hedge transactions, $15M to repurchase shares, and the rest for corporate purposes. The notes can be converted under certain conditions, and Ligand may redeem them after October 2028 if its stock price reaches 130% of the conversion price.

Xiaomi’s CEO, Lei Jun, initiated a poll about renaming the Xiaomi YU7 standard edition car. Initial results show a preference for keeping the “standard edition” title over adopting “Pro” or “Max.” Those favoring the current name believe the car’s quality speaks for itself. Those wanting a change hope it will improve market perception, as the YU7 boasts impressive specs despite its name. The poll addresses concerns that consumers underestimate the standard edition’s capabilities.

Elon Musk is threatening legal action against Apple over alleged antitrust violations related to the App Store. Musk claims Apple unfairly excludes X and his AI chatbot Grok from the “essential” category, hindering their visibility and disadvantaging AI startups. He argues Apple’s practices stifle competition and favor OpenAI. xAI plans to initiate legal proceedings immediately, potentially reshaping app distribution and competition within the AI sector.