Markets

The EU is bracing for potential trade escalation with the US following Trump’s tariff threats, particularly on steel and aluminum. The EU warns of retaliatory measures if new duties are imposed, and views upcoming talks with the US as crucial for de-escalation. Focused on protecting its economic interests, the EU seeks negotiation to remove tariffs and address trade barriers in key sectors, with significant countermeasures already prepared.

Royce Micro-Cap Trust (RMT) announced a $0.18 per share quarterly distribution, payable June 25, 2025, with shareholders able to choose cash or additional shares. The distribution rate is currently 7% annually, subject to change. As of May 31, 2025, the distribution source is primarily long-term gains. The fund’s 5-year average annual total return is 12.71%.

Cronos Group Inc. announced CEO Mike Gorenstein will present at the TD Cowen Future of the Consumer Conference on June 4, 2025. The company, focused on cannabinoid innovation with brands like Spinach and Lord Jones, aims to shape the consumer experience through research and development. The live webcast will be available on Cronos’ investor relations website. This release includes forward-looking statements.

Cogent Communications (CCOI) will issue $600 million in senior secured notes due 2032, offered to qualified institutional buyers, via its subsidiaries. Proceeds will refinance its outstanding $500 million notes due 2026 and provide operational flexibility, including potential shareholder dividends. This offering, which is not guaranteed, will not be registered and has specific trading limitations. Cogent, a major bandwidth provider, operates globally.

Xiaomi partner Pan Jiutang commented on China’s EV market, highlighting the diverse approaches of key players like SAIC, BYD, Huawei, and Xiaomi itself. He emphasized the importance of market forces and consumer choice over internal evaluations of competitors. This followed public comments from another tech executive, reflecting the intense competition and evolving dynamics of the burgeoning Chinese EV industry.

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.