Markets

Douyin is warning parents about a rise in scams targeting minors during the summer. Scammers lure young users with offers like free books or game accounts, then redirect them to external platforms. Tactics include impersonating law enforcement and using scare tactics to coerce fund transfers. Douyin recommends using “Teen Mode,” which disables features like messaging and live-streaming, to protect minors. Common scams involve impersonating police, falsely accusing minors of fraud, and using fake gaming streamers to install remote access software.

China will implement a revised national standard for refrigerator energy efficiency on June 1, 2026. The new standard, classifying fridges into five grades, tightens power consumption limits by 30-40%. Grade 1 fridges will see a 40% reduction, saving consumers ~68 RMB annually. This could lead to national energy savings of 13 billion kWh. The standard also introduces a “volumetric utilization rate,” aiming for 10-30% more usable space within the same external dimensions, requiring manufacturers to innovate in insulation and component miniaturization.

SpringWorks Therapeutics’ EZMEKLY® (mirdametinib) received conditional EU approval for NF1-PN in adults and children (2+), marking the first and only EU-approved therapy for this rare genetic disorder. Backed by Phase 2b ReNeu trial data (n=114), EZMEKLY showed objective response rates of 41% in adults and 52% in pediatric patients, with ~41-42% median tumor volume reduction and durable responses. Available in capsule and dispersible tablet forms, EZMEKLY addresses a significant unmet need in an estimated 135,000 EU patients.

A Weibo hashtag “HarmonyOS Grand Hotel” is trending in China, spotlighting unique perks for Harmony Intelligent Mobility Alliance (HIMA) EV owners. Users are sharing photos of elaborate meals offered at HIMA authorized user centers. HIMA’s Weibo account encouraged car owners to “come home for a meal,” showcasing culinary offerings. These centers provide free charging, car washes, maintenance, and complimentary dining, enhancing the ownership experience. This strategy aims to build brand loyalty in China’s competitive EV market by transforming traditional service centers into comprehensive hubs.

An investigation reveals potential double standards in the restaurant industry, where some establishments allegedly use premium ingredients for dine-in customers while offering cheaper alternatives to delivery orders. This disparity, fueled by a lack of oversight and cost pressures, compromises food quality for delivery. The report highlights the need for industry regulation, transparent practices, and innovative solutions like “live kitchen streams” to ensure consistent quality and pricing, ultimately building consumer trust in the food delivery ecosystem.

SEGG Media (NASDAQ: SEGG) announced its sponsored drivers, Callum Ilott and Louis Foster, will compete in the 2025 Ontario Honda Dealers Indy Toronto. Foster seeks consistency after a strong Iowa performance, while Ilott aims to improve his best Toronto finish. Marc Bircham, Director of Sports.com, will attend. This follows

China’s SAMR summoned executives from Ele.me, Meituan, and JD.com, emphasizing compliance with laws like the E-Commerce and Food Safety Laws. Regulators urged responsible practices, standardized promotions, and fair competition to foster a healthy ecosystem. This follows heightened competition in the on-demand delivery sector, with platforms launching promotional campaigns. Meituan’s instant retail order volume reached 150 million on July 12th. Meituan CEO Wang Putao expressed reluctance towards the ongoing “delivery war”.

A Shanghai court upheld the termination of an employee, Xu Xiaojiao, who publicly insulted her smoking boss on WeChat. Xu’s comments violated company policy against insulting behavior, as outlined in the employee handbook. The court ruled that her remarks exceeded mere uncivil language and rejected her claim for wrongful termination compensation, emphasizing the need for professional conduct, even online. The initial ruling to terminate Xu was validated.

NuRAN Wireless (NRRWF) achieved its first positive EBITDA in Q1 2025, as highlighted in a corporate update video featuring key executives. The company is currently negotiating potential debt restructuring to improve financial terms and seeking additional operating funds. While the positive EBITDA marks a significant milestone, the need for further funding and debt restructuring suggests ongoing financial considerations.

Sony faces setbacks as Xperia 1 VII sales are globally suspended due to freezing problems. Simultaneously, the newly released WH-1000XM6 headphones are reportedly experiencing “broken hinge” issues. These product flaws pose a significant challenge for Sony’s reputation and may impact consumer confidence.