Markets

The Chinese Football Association announced a public tender for its “Forward Plan” AI project, aiming to build a foundational Big Data Analysis Platform using artificial intelligence. This platform will process football data to support national team preparation, youth development, coaching, and referee training, addressing persistent performance challenges. The project has a strict cost ceiling of RMB 10.68 million. It follows the men’s national team’s recent 0-3 loss to South Korea, extending their winless streak against that opponent to six matches.

360 Digital Security Group and Bijie Vocational College partnered on July 10, 2024, establishing the Bijie Vocational-360 Digital Intelligence Security Industry College in Guizhou. This collaboration aims to accelerate talent development for the region’s digital economy through an integrated teaching-research-application system. The initiative features a “three-centers, one-platform” structure focusing on industry-aligned training, dual-qualified faculty, and technological innovation. Executives emphasize bridging academia-industry gaps to support Guizhou’s digital industrialization goals and create a sustainable talent pipeline, positioning it as a model for Western China’s development during the province’s 14th Five-Year Plan implementation. (100 words)

Civista Bancshares (NASDAQ: CIVB) priced an offering of 3.29 million common shares at $21.25 each, aiming to raise ~$70 million. With an underwriters’ option, proceeds could reach $80.5 million. The capital, expected to close July 14, will fund organic growth and potential acquisitions in Midwest markets. Piper Sandler leads the transaction under Civista’s existing SEC shelf registration.

Huawei is expanding into the global AI chip market, targeting the Middle East (UAE, Saudi Arabia) and Southeast Asia (Thailand) with its Ascend 910B chip, challenging NVIDIA. To attract clients, it’s promoting its CloudMatrix 384 super AI server, powered by the Ascend 910C chip. This server integrates 384 Ascend NPUs and 192 Kunpeng CPUs, offering high throughput (2,300 tokens/sec) and massive scalability (up to 160,000 cards). It supports stable, resilient operation. While highlighting its AI cloud services as ideal for large models, Huawei is not exporting the Ascend 910C overseas due to supply constraints, prioritizing Chinese firms impacted by US restrictions. (98 words)

Faraday Future launches its FX Super One MPV and AI tech on July 17th. Concurrently, verified FFAI shareholders (as of July 10, 2025) gain exclusive pre-ordering access and tiered perks via Stockperks. These include a $3,500 purchase voucher for Futurist tier holders (1+ shares) and extensive benefits like lifetime warranty/maintenance for Prestige holders (100,000+ shares), alongside priority delivery and customization. Targeted US deliveries start late 2025. (98 words)

Luxeed (Chery-Huawei JV) faces owner backlash and plummeting sales. Despite Chery Chairman’s promise to prioritize Huawei during disagreements, owners accuse Chery of neglect: using Luxeed’s channel for Chery events, omitting standard features, listing Luxeed last in sales reports, inconsistent pricing, and internal restructuring lacking Luxeed clarity. Sales crashed to 2,459 units in June amidst these controversies. Despite multiple apologies and hints at Luxeed’s future independence, overcoming low sales and mistrust remains a major challenge.

Hong Kong’s insurance industry faces ethical scrutiny as elite graduates from Tsinghua and Peking universities flood into the lucrative sector. Former Professor Larry Lang accused it of being a “carefully constructed fraud,” citing large commissions drawn from policy premiums and brokers earning up to HK$2 million annually. While some recruits quickly achieve high sales targets, many fail. In response, Hong Kong’s Insurance Authority head Richard Lui acknowledged concerns over upfront commissions and proposed caps similar to Singapore and Malaysia for fairer practices. (98 words)

South Bow (SOBO) will release Q2 2025 financial results after markets close on August 6, 2025. An earnings call follows on August 7th at 8:00 AM MT. The pure-play pipeline operator’s performance, particularly terminal utilization and tolling agreements, is watched amid sector scrutiny over regulations and volatile markets. Management will address operational efficiency, regulatory challenges, and commercial resilience of its key Alberta-U.S. crude oil network.

After China’s men’s football team lost 3-0 to South Korea in the East Asian Cup, social media attention shifted to their extensive luggage upon arrival. Responding to scrutiny, the Chinese Football Association clarified that the 51-member delegation carried 140 checked bags: 84 personal items and 56 essential equipment pieces (training, match, recovery gear). All were deemed necessary, and players assisted staff by carrying equipment to ease transit. This logistics effort was cited as routine for elite teams ensuring peak preparation and performance during international tournaments.

Jane Birkin’s original Hermès Birkin bag prototype shattered auction records, selling for €8.58 million ($9.15 mil) at Sotheby’s Paris. This is the most expensive handbag ever sold and the second-highest price for any fashion item. The unique bag resulted from Birkin’s 1981 flight chat with Hermès’ CEO, distinct features include a non-detachable strap and a nail clipper. Estimated at €1-2 million, intense bidding saw a Japanese collector win it. Birkin donated its 1994 sale proceeds to charity. The Birkin is both a fashion icon and noted alternative investment asset.