Markets

Rumors of new WeChat features like read receipts and visitor logs for Moments have sparked user speculation and concern. Publicly responding to the buzz, Tencent’s PR director, Zhang Jun, denied the features’ potential implementation, citing concerns about social pressure and privacy. He has consistently dismissed the rumors, reiterating WeChat’s commitment against implementing such functionalities, which parallels discussions from previous years.

PesoRama Inc. is expanding its JOi Dollar Plus stores in Mexico, with the 27th store opening on May 31st in Mexico City’s Patio Martin Carrera shopping center. The 481-square-meter store targets a high-income area, offering everyday essentials. A live stream of the grand opening will be on JOi’s Instagram. Since 2019, PesoRama has focused on high-traffic locations, and as of May 31st, will operate 27 stores.

New Oriental founder Yu Minhong posted on social media after a cycling accident in Qinghai province, sustaining minor injuries. The mishap occurred while he was participating in a cycling expedition documenting the region’s culture and landscapes. This journey, aimed at exploring the Yellow, Yangtze, and Lancang Rivers’ sources, has attracted positive attention online as Yu shares his experiences. The trip includes a multi-day cycling loop around Qinghai Lake.

CNBC reports on a fraudulent scheme exploiting China’s “green lane” toll system, designed for agricultural transport. Unscrupulous operators used falsified documentation to avoid tolls, discovered through data analysis. Authorities uncovered a network of nearly 100 vehicles, involved illicitly carrying non-agricultural goods. The investigation led to arrests and recovery of substantial funds, highlighting the importance of data analytics in detecting and combating infrastructure fraud.

Elon Musk has ended his brief stint as a White House advisor, leaving amidst controversy. His “Department of Government Efficiency” initiative aimed at budget cuts yielded modest results, sparking criticism and potential conflicts of interest. Tesla faced sales declines and market share losses, compounded by the government’s backlash. Investors are demanding Musk dedicate more time to Tesla as the company and his other ventures face critical challenges.

TAT Technologies Ltd. announced the pricing of a public offering of 4,150,000 ordinary shares at $26.00 each. The company will sell 1,625,000 shares, while FIMI Opportunity V and FIMI Israel Opportunity Five will sell 2,525,000. Underwriters have options to purchase additional shares. The offering is expected to close around June 3, 2025, generating approximately $42.3 million in gross proceeds for TAT, allocated towards general corporate needs. Stifel and Truist Securities are joint book-running managers.

Huike, a consumer electronics leader, announced a 10 billion yuan investment in a new M-LED chip manufacturing facility in China. The project in Shunqing District aims for a monthly production capacity of one million full-color M-LED display chips, with phase one targeting 150,000 chips. This investment reinforces Huike’s strong position in the display sector and its commitment to advanced display technologies for various applications, including TVs, monitors, and automotive displays.

Baidu’s Q1 2025 earnings revealed a modest revenue increase and a strong net profit surge. The report’s focus, however, shifted to disclosed payments for CEO Robin Li’s private plane use. Baidu stated these expenses, already detailed in the annual report, were approved, standard practice, and based on market rates. While the earnings report revealed overall performance details, the specifics of the plane-related expenses weren’t itemized.

Pathfinder Ventures Inc. (TSXV:RV) announced the appointment of Rishu Gaind, CPA CGA, as CFO, signaling a commitment to strengthening its financial infrastructure. Gaind, with over 11 years of finance experience and a history with Pathfinder, will lead this effort, succeeding Mathew Lee. The company aims to excel in the RV resort and manufactured housing sectors, focusing on hospitality, sustainability and innovation. This release also contains forward-looking statements.

Tech mogul Zhou Hongyi challenges the conventional link between wealth and happiness. He argues that societal pressure often misguides individuals into believing financial success guarantees contentment. Zhou emphasizes personal empowerment as key to happiness, suggesting it comes from achieving authentic goals and reducing desires. He advocates for continued purpose beyond wealth, encouraging investment in oneself and leveraging strengths to create a meaningful impact, rather than seeking early retirement.