Markets

**Concise English Summary (100 words):**

Apple plans early 2026 launches of affordable devices to boost demand. Updates include refreshed entry-level iPads and iPad Air (featuring M4 chip) around March/April, an M5 iPad Pro in October, and the budget iPhone 17e with A19 chip—signaling annual refreshes for entry-tier iPhones. MacBook Pro (14-inch/16-inch) M5 models and new MacBook Airs, initially delayed, are now slated for H1 2026. Apple will also debut its first new Mac external display since 2022. A postponed smart home hub may release by mid-2026, dependent on Siri’s overhaul. Overall strategy extends momentum from fall 2024 product introductions.

Milestone Pharmaceuticals announced an underwritten public offering of common shares with Series A and Series B warrants, plus pre-funded warrants for certain investors. Proceeds will primarily fund the clinical development and U.S. commercial launch of its PSVT treatment candidate, etripamil, while covering working capital. TD Cowen, Piper Sandler, and Wells Fargo Securities are joint bookrunners, with H.C. Wainwright as lead manager. This financing supports Milestone’s transition toward commercialization, though it may dilute existing shareholders.

**Zurich China paid a landmark $40 million settlement** for a product liability claim. A US child suffered permanent injuries in 2022 after swallowing a button battery from a defective Chinese-manufactured air conditioner remote insured by Zurich. As the excess layer insurer, Zurich settled the original $125.2M lawsuit to avoid a potentially higher US jury verdict. Completed in June 2025 (~¥141M), the payment impacted profits but left the insurer financially sound. This record settlement starkly highlights the catastrophic liability risks in markets like the US and the need for robust safety and tailored insurance for exporters.

Here’s the concise English summary (94 words):

The Pentagon acquires a $400 million strategic stake in Mountain Pass Materials, becoming the largest shareholder in America’s sole integrated rare earth producer. Securing 15% ownership via convertible preferred shares, the deal includes price-protected 10-year supply agreements and potential future investments to strengthen domestic mineral supply chains. Concurrently, Mountain Pass announced plans to build a rare earth magnet plant by 2028, expanding capacity to 10,000 tons annually for EV and defense needs. The transaction, supported by $1.15 billion in strategic funding from Wall Street banks, aims to solidify U.S. critical mineral independence.

XPENG launches G6 and G9 electric SUVs in Europe featuring ultra-fast charging capabilities. The G9 achieves 525 kW peak charging power while the G6 reaches 451 kW, enabling 10-80% charge in just 12 minutes. Both offer premium features: G9 provides up to 585 km WLTP range, G6 delivers 535 km. Utilizing 800V architecture with 5C Supercharging AI Battery technology and military-grade safety systems, the models incorporate Qualcomm Snapdragon 8295 and NVIDIA Orin-X processors for advanced autonomy. Available in eight European countries, deliveries begin late summer 2025.

A refrigerator exploded in an office on July 11th, captured on surveillance video showing a violent blast flinging the door open and filling the area with thick white smoke. The freezer compartment failed catastrophically – the poster stressed the actual blast was stronger than recorded. Manufacturer inquiries yielded an initial assessment ruling out the compressor but requiring on-site inspection for the exact cause. The incident highlights critical safety protocols: essential maintenance, avoiding repeated power cycling after circuit breaker trips, and never storing significant CO2-releasing items like carbonated drinks or passion fruit concentrates in sealed refrigerators.

At the China Automotive Forum 2025, Yin Tongyue, chairman of Chery Automobile, urged auto industry leaders to increase face-to-face meetings to prevent misunderstandings. He called for associations to facilitate more informal gatherings, with a moderate relaxation of anti-alcohol policies. Yin humorously noted AI advances make decision-making challenging, leading companies like Chery to act cautiously and sometimes follow others. (66 words)

At Shanghai BW Anime Expo (through July 13th), Nintendo debuts the Switch 2 console. The Hong Kong variant launches on JD.com, priced from CNY 4,099 with an initial CNY 150 discount and possible subsidies. Key features include a 7.9-inch 1080P portable display, 4K TV output, TV/tabletop/handheld modes, an adjustable kickstand, dual USB-C ports, and improved Joy-Con controllers with magnetic attachment and motion sensors. The console is backward compatible with original Switch games. JD.com hosts the official flagship store for its launch.

Aker Solutions reported robust Q2/H1 2025 results. Q2 EBITDA margin was 8.3%, EPS NOK 1.46, net cash NOK 2.1bn, with order intake NOK 10.9bn and backlog NOK 68.0bn. H1 EPS was NOK 2.81. Revenue rose to NOK 15.2bn in Q2, driven by Life Cycle growth despite renewables margin pressure. The CEO highlighted project milestones and tech advances (e.g., autonomous drones). The company maintains its 2025 guidance: revenue exceeding NOK 55bn and underlying EBITDA margin (ex-OneSubsea) of 7.0-7.5%.

Chinese high school graduates seeking summer jobs faced exploitation through an employment agency. Placed at a facility using the STO Express logo, they were promised 200 yuan for an 11-hour shift sorting packages. After just four hours, the station dismissed them, citing “excessive sweating” and unsuitability, paying only 10 yuan for bus fare home instead. The agency challenged them, “Report it to the police if you want money.” STO Express pledged to investigate potential franchisee violations. Authorities separately noted the case highlights youth labor oversight issues, including failure to register underage workers.