Markets

TotalEnergies launched oil production from its Mero-4 phase in Brazil’s pre-salt Santos Basin, bolstering its low-carbon strategy. The offshore project, linked to the 180,000 b/d Alexandre de Gusmão FPSO, employs emissions-reduction technologies like gas reinjection. Combined with existing units, Mero’s total output reaches 770,000 b/d. TotalEnergies’ stake is expected to deliver 100,000 boe/d. Operated by the Libra Consortium (Petrobras, TotalEnergies, Shell, CNPC, CNOOC, and Pré-Sal Petróleo), the project aligns with the company’s 3% annual production growth target by 2030. TotalEnergies also emphasized Brazil’s role in its renewables expansion, including a 12 GW solar/wind joint venture, balancing hydrocarbon growth with sustainability goals.

Geely Chairman Li Shufu asserts China’s EV startups heavily rely on talent poached from Geely, calling the company “the cradle of China’s automotive talent.” During a CNBC interview, Li highlighted Geely’s global tech acquisitions and partnerships as key to building its talent ecosystem. Industry analysts note ex-Geely executives now hold leadership roles at Xpeng, WM Motors, Xiaomi Auto, and Baoneng, underscoring intensifying competition for automotive intellectual capital. While Geely expands globally through brands like Lotus and Polestar, questions arise about whether its talent-cultivation strategy ensures lasting innovation or risks draining expertise amid EV sector volatility. Q2 employment data may provide critical insights.

Quark App launched its AI-powered “Smart Volunteer Selection” tool to streamline China’s college application process. The feature uses a Tiered Optimization Framework to recommend universities/majors through aspirational, competitive, and safety tiers based on mock exams and rankings. It provides data-backed confidence scores for strategies, supported by admission statistics from 2,900+ universities and labor market trends. The seventh consecutive free service reinforces Quark’s leadership in China’s $1.2B edtech market, aligning with growing demand for AI-driven academic planning that connects educational choices with employment projections.

Google’s search market share fell below 90% in Q4 2024 (89.34%), marking its first sustained decline amid rising AI competition from platforms like Perplexity. Elon Musk claimed AI would “render traditional search obsolete,” as analysts highlight challenges like AI hallucination risks and reliability concerns. Despite a brief rebound in early 2025, Google faces regulatory and technological pressures to adapt. Musk also disclosed operational crises at X, revealing system vulnerabilities and returning to round-the-clock management ahead of critical launches for xAI, Tesla, and SpaceX. Experts describe the shift as a “perfect storm” threatening Google’s 25-year dominance.

Tesla CEO Elon Musk’s plan to deploy Optimus humanoid robots in manufacturing faces pushback from ex-robotics head Chris Walti, who argues bipedal designs are impractical for industrial efficiency compared to specialized automation. While Tesla tests prototypes to counter labor shortages, Walti warns replicating human dexterity and balance remains a major technical hurdle, likening progress to “the third inning of a nine-inning game.” Analysts highlight the “jack-of-all-trades paradox,” questioning if Optimus’ projected $20,000 price and versatility can surpass task-specific robots dominating factories. Skeptics stress the need for proven ROI over existing systems, framing the debate as a high-stakes bet on automation’s future.

Lenovo Group reported strong fiscal year results with annual revenue rising 21.5% YoY to RMB 498.5 billion ($68.7 billion), its second-highest on record. Non-PC businesses now make up 47% of total revenue, up 5% points, with all regions achieving double-digit growth. R&D investment grew 13%, with R&D staff comprising 27.8% of its workforce. CEO Yang Yuanqing highlighted strategic focuses on hybrid AI infrastructure, in-house semiconductor development (including a 5nm chip prototype), and operational efficiency through vertical integration. The company emphasized long-term growth driven by innovation, supply chain control, and market analytics, rather than short-term gains.

A Cessna 401 (N3239Q) safely performed an emergency belly landing at Arlington Municipal Airport, Texas, on May 22 after landing gear failure. The crew evacuated unharmed following the textbook maneuver, using a foam-covered runway to minimize damage. Aviation experts praised the pilot’s skill, contrasting this incident with a fatal 2024 South Korean crash involving a larger jet, emphasizing training and aircraft size in crisis outcomes. The FAA is investigating the malfunction, with initial results expected in 30 days.

Innovent Biologics’ dual GCG/GLP-1 agonist mazdutide demonstrated significant weight loss (14.84% vs. 0.47% placebo) in a Phase 3 trial (GLORY-1) with 610 Chinese adults with obesity over 48 weeks, published in *NEJM*. Over 50% achieved ≥15% weight reduction, alongside improved cardiovascular and liver health. Safety aligned with GLP-1 therapies, with transient gastrointestinal effects. This marks the first NEJM-published metabolic therapy trial from China, signaling the nation’s rise in drug innovation. Experts emphasized mazdutide’s potential in addressing China’s obesity crisis under “Healthy China 2030.” Partnerships with Eli Lilly and ongoing trials aim to expand its use in metabolic diseases.

Foxconn (Hon Hai Precision Industry) is considering a $3 billion bid for Singapore’s UTAC Holdings, a semiconductor testing and packaging firm owned by China’s Wise Road Capital, sources told CNBC. The deal, managed by Jefferies, aims to strengthen Foxconn’s chip capabilities amid U.S.-China tech tensions. UTAC’s Asia-wide production bases and $300M annual EBITDA make it a strategic acquisition target, enhancing Foxconn’s vertical integration for AI, automotive, and IoT chip demand. Analysts view the move as consolidation to counter Western semiconductor dominance and secure geopolitical leverage.

Elektros Inc. (OTC: ELEK) announced a major lithium discovery in Sierra Leone, with grades exceeding commercial thresholds, positioning it among West Africa’s largest undeveloped deposits. The find aligns with projections of 42-fold lithium demand growth by 2040, offering potential to diversify EV supply chains amid automakers’ push for ethical sourcing. Despite Sierra Leone’s challenging business environment and Elektros’ microcap status ($12M valuation), proximity to ports and low impurity levels present advantages. Risks include unproven feasibility and infrastructure gaps. Tesla’s recent Africa-focused lithium strategy and regional patent filings hint at synergies. Success hinges on partnerships, testing, and navigating local regulations to transform the deposit into a supply chain asset.