Markets

Alphabet’s stock surged to a record high after a U.S. court ruling favored Google, allowing it to retain Chrome, Android, and its practice of paying Apple to be the default search engine. Analysts revised their outlook, with JPMorgan Chase and Bank of America raising price targets. Apple’s stock also benefited due to continued payments from Google. The decision removes regulatory uncertainty, enabling Google to maintain dominance and pursue AI innovation, solidifying its position in the tech landscape; however, ongoing antitrust concerns remain a risk.

NetBrands Corp (NBND) appointed Nico Smid of Digital Mining Solutions as a strategic advisor to enhance its Bitcoin mining and digital asset management capabilities. Smid brings 15+ years of international business experience and expertise in the digital asset space since 2017, including a network of over 12,000 newsletter subscribers. The appointment signifies NetBrands’ expansion into Bitcoin mining and Web 3.0, aiming to strengthen its position in these evolving sectors.

Rivian (RIVN) announced that CEO RJ Scaringe will participate in a fireside chat at Morgan Stanley’s Laguna Conference on September 11th at 4:50 PM PT. A live webcast will be available. Rivian, focused on electric vehicles and integrated services, aims to be a key player in the EV market. The company’s strategy includes software, services, and infrastructure, targeting both consumer and commercial applications with a commitment to sustainability. The event offers insights into Rivian’s strategy and growth plans.

Microsoft and the GSA have reached an agreement to accelerate AI and digital technology adoption across federal agencies. The deal provides free services like Microsoft 365 Copilot and aims to modernize government IT infrastructure. This partnership, part of the GSA’s “OneGov” strategy, joins similar offerings from other tech giants. Agencies procuring through the GSA will access Microsoft’s suite, including Azure, Dynamics 365 and Sentinel, improving productivity and security. Microsoft expects over $3 billion in savings for the government in the first year, with projected cumulative savings exceeding $6 billion over three years.

Geekplus (2590.HK) announced strong unaudited interim results for H1 2025, with revenue up 31.0% year-over-year to RMB 1.025 billion. Gross profit increased 43.1%, resulting in a gross margin of 35.1%. Adjusted net loss narrowed significantly, and adjusted EBITDA turned positive. New orders rose 30.1% to RMB 1.760 billion. Revenue from outside Mainland China accounted for 79.5% of the total. Geekplus remains the world’s largest warehouse fulfillment robotics solution provider and will focus on embodied intelligence R&D, global expansion, ESG, and talent development.

Kronos Worldwide (KRO) is issuing €75M in additional 9.50% Senior Secured Notes due 2029 through its subsidiary, Kronos International, Inc. This increases the outstanding amount of these notes to €426.174M. Proceeds will primarily address maturing 3.75% Senior Secured Notes due September 2025, or repay amounts drawn from the Wells Fargo credit facility for the same purpose. The offering’s completion is subject to market conditions. The notes are guaranteed and secured by company assets.

Amprius (Wuxi) Co. Ltd. was penalized by the Wuxi Municipal Market Supervision and Administration Bureau with fines and confiscations of approximately 3.74 million yuan ($520,000 USD) for selling non-compliant power bank batteries. The investigation revealed the company sold improperly certified batteries, failed to re-certify products after material changes, and continued sales during certification suspensions. The crackdown follows recalls of power banks due to fire risks and raises concerns about Amprius’s quality control and its impact on brands like Anker, Romoss, Xiaomi, Ugreen, and Baseus.

On September 3, 2025, Lyft announced a private offering of $450 million in Convertible Senior Notes due 2030, with an option for initial purchasers to buy an additional $50 million. The notes, convertible at $23.52 per share, won’t pay regular interest and can be redeemed by Lyft after September 20, 2028, under certain conditions. Lyft will use proceeds for capped call transactions (cap price ~$33.60) and to repurchase ~$95.7M of Class A common stock. Remaining funds are for general corporate purposes including potential acquisitions, though no specific agreements are in place.

LG Electronics highlights its partnership with the PARKSEOBO FOUNDATION at Frieze Seoul 2025, showcasing Park Seo-Bo’s art through LG OLED TV’s precise color rendering. The “Park Seo‑Bo x LG OLED TV: Colors Drawn from Nature” exhibition features a digitally reimagined artwork. LG is democratizing art access with LG Gallery+, offering a curated selection of Frieze Seoul artworks, including Park Seo-Bo’s, for free viewing on LG TVs. This collaboration strengthens LG’s commitment to art and technology, creating innovative experiences worldwide.

Sinopec announced its controlling shareholder, China National Petroleum Corporation, plans to transfer 0.3% of its A-shares to China Mobile Communications Group at zero cost. This state-owned equity transfer aims to deepen strategic cooperation, optimize equity structure, and achieve complementary advantages between the energy and telecom giants. The deal, part of a broader strategic cooperation agreement signed in January 2024, requires SASAC approval and won’t change Sinopec’s control or materially impact operations.