Markets

Shell plc announced details of its ongoing share repurchase program, executing buybacks on June 23, 2025, as part of a program initiated in May 2025. The company repurchased 793,000 shares on London exchanges and 787,000 on various European exchanges. BNP PARIBAS SA independently manages the trading decisions until July 25, 2025. All actions comply with UK and EU market regulations, reflecting Shell’s commitment to financial transparency and shareholder value.

Xiaomi will hold a “mega-event” on June 26th, showcasing new products like the YU7 SUV, MIX Flip2 foldable phone, and Pad 7S Pro tablet. The event, lasting approximately three hours, will also unveil REDMI K80 Supreme Edition and K Pad pricing. The YU7 aims to be a high-performance luxury SUV, challenging Tesla’s Model Y in the market, as emphasized by Xiaomi’s founder.

Fat Donglai refuted rumors of mass store closures, clarifying that founder Yu Donglai’s remarks about past closures were taken out of context. The retailer, which reported $1.56 billion in sales, highlighted strong financial performance and revealed generous employee perks, including an average monthly salary of $1240 and plans for a 36-hour work week with 40 days of annual leave.

Miguel Ángel Jiménez won the Kaulig Companies Championship using Newton Golf’s Fast Motion shaft, securing his third major title on the PGA TOUR Champions. The win, his fourth of the season, reinforces Jiménez’s top ranking and marks the second major victory for the Newton Motion shaft. The Fast Motion shaft, featuring innovative design elements and lightweight materials, is gaining traction, with over 40 Tour professionals now using Newton Motion shafts.

Wolfspeed, a SiC semiconductor leader, filed for Chapter 11 bankruptcy to restructure and reduce its $6.5 billion debt. The company secured $275 million in financing and aims to exit bankruptcy by Q3. Facing headwinds including reduced EV demand, high cash burn, and delayed government funding, Wolfspeed is restructuring to focus on high-growth sectors while cutting costs and shedding operations. This move highlights the semiconductor industry’s volatility, particularly impacting EV and renewable energy.

On June 23, 2025, Dr Ashleys Limited and Impact BioMedical Inc. announced a merger deal. Dr. Ashleys will acquire Impact BioMedical through a reverse merger, creating a new entity listed on the NYSE American. This strategic alliance merges Impact BioMedical’s innovative patents with Dr Ashleys’ resources and global reach, aiming to expedite the development of impactful therapies and expand global market access for biomedical advancements.

Jeff Bezos is set to marry Lauren Sanchez in Venice, Italy next week. The lavish wedding, planned by George Clooney’s wedding planners, will host 200 guests, including celebrities, and is expected to boost the city’s economy. However, the event has sparked protests from locals due to concerns about overtourism and its impact on Venice’s resources and infrastructure.

In Shenzhen’s gold market, “gold Labubu” accessories are booming, driven by young consumers. Retailers are selling phone charms, jewelry, and pendants, despite lacking authorization from the Labubu IP owner. This has prompted warnings of potential copyright infringement and unfair competition. Local authorities have announced inspections and will take action against unauthorized sales, leading some vendors to sell the items discreetly.

Hillhouse Capital is reportedly leading a potential acquisition of Starbucks China, with a management roadshow recently completed. Goldman Sachs values the business at $5-6 billion. The deal follows prior reports of Starbucks seeking strategic investors. Starbucks China generated $3 billion in revenue in 2024, but profit and growth slowed. The acquisition is driven by competition from domestic brands like Luckin Coffee, prompting Starbucks to expand into lower-tier cities and rural markets.

Desert Gold Ventures Inc. (DAU) has signed an option agreement to acquire a 90% stake in the Tiegba Gold Project in Ivory Coast. The project, located in a promising gold belt with significant exploration potential, boasts a large land package, proximity to existing gold mines, and compelling gold-in-soil anomalies. Desert Gold plans to aggressively explore, aiming to define drill targets.