Markets

Bill Gates plans to direct the majority of his foundation’s $200 billion philanthropic initiative towards Africa over the next two decades. This aims to improve healthcare, education, and economic growth, fighting poverty and disease. The funds will support existing programs and launch new initiatives, focusing on eradicating diseases and preventing avoidable deaths. Gates also criticized Elon Musk for reducing international aid budgets.

Aon plc is restructuring its leadership, with Andy Marcell becoming CEO of Global Solutions, overseeing integrated client services in risk and human capital. This move supports Aon’s “3×3 Plan” and leverages Marcell’s success integrating Risk Capital. Lambros Lambrou becomes Global Chief Strategy Officer. These changes align with the insights from Aon’s Client Trends 2025 report and aim to address evolving client needs.

SquareX warns of a new “Browser in the Middle” phishing technique using fake fullscreen login pop-ups to steal credentials. Exploiting browser vulnerabilities in Chrome, Edge, and Safari, attackers create convincing illusions. Safari is at highest risk due to a lack of visual warnings during the transition to fullscreen mode.

Iovance Biotherapeutics announced five-year follow-up data for Amtagvi (lifileucel) in advanced melanoma. Results from the Phase 2 trial show deep, durable responses with one-third of patients maintaining ongoing responses after five years. Median overall survival was 13.9 months, with a five-year survival rate of 19.7%. The therapy, already FDA-approved, provides a new treatment option for patients with advanced melanoma who progressed after prior therapies.

Meta plans to fully automate AI-powered ad creation for brands by the end of next year, leveraging AI to generate visuals, videos, and text based on product images and budget goals. This initiative aims to further strengthen Meta’s advertising business, which accounts for over 97% of its revenue. Simultaneously, Meta is shifting towards AI for risk assessment, targeting AI to handle up to 90% of related tasks.

Campbell’s Q3 net sales rose 4% to $2.5 billion, with organic growth of 1%. Adjusted EBIT increased 2% to $362 million, while adjusted EPS decreased 3% to $0.73. The company maintained its fiscal year 2025 guidance, anticipating adjusted EPS at the lower end of the range. They also returned $403 million to shareholders.

Following the Dragon Boat Festival, Americans anticipate a combined National Day and Mid-Autumn Festival holiday, set to be an 8-day break. The recent holiday saw increased short-distance travel, often within provinces. Key trends include the rise of road trips fueled by family outings and a surge in electric vehicle use, accounting for around 21% of daily traffic. Drivers are advised to exercise caution due to adverse weather conditions.

China’s EV market is transforming, emphasizing personalized experiences. A new report identifies eight distinct EV user personas with unique preferences, shaping consumer behavior and charging habits across urban tiers. The study highlights trends towards lifestyle-focused mobility, with success depending on understanding individual consumer journeys and providing tailored solutions, shifting the industry from technology to a life-choice driven approach.

A company is developing 3nm application processors without using EUV lithography, circumventing the conventional path with multi-patterning and step-and-scan systems. Having already achieved 5nm success this way, they aim for a 2025 launch with GAA technology. While ambitious, this approach faces skepticism due to the yield and efficiency challenges associated with DUV-based multi-patterning compared to EUV.

Life360 plans to issue $250 million in convertible senior notes due 2030 in a private offering to institutional buyers, with an option for an additional $37.5 million. The notes, with semi-annual interest payments, can be converted under certain conditions by holders, and Life360 can redeem them or repurchase them upon a “fundamental change.” Proceeds will finance capped call transactions (to mitigate share dilution) and general corporate purposes, potentially including acquisitions or product expansion. The specific terms and conditions will be available upon pricing.