Markets

A Shaanxi coffee shop encountered issues with its banknote counter repeatedly identifying genuine one-yuan bills as counterfeit. The problem stemmed from the machine’s outdated software, unable to recognize the enhanced security features of the 2019 series Renminbi. The manufacturer, Deli, confirmed that machines produced between late 2017 and mid-2020 require a software update. This incident highlights the need for businesses to update cash-handling equipment and for users to verify currency through multiple methods, not just relying on a single device.

GlobalFoundries’ Singapore fab joins the World Economic Forum’s Global Lighthouse Network, recognized for its adoption of Fourth Industrial Revolution (4IR) technologies. Since 2020, GF has implemented over 60 smart manufacturing solutions using AI, machine learning, and IoT. GF is also developing digital talent pipelines and strategic partnerships in the U.S., Europe and Asia. This designation underscores GF’s commitment to digital innovation and its role in advancing semiconductor manufacturing.

Defence Therapeutics (DTCFF) appointed Dr. Amie Phinney to its Board of Directors. Dr. Phinney, previously a Strategy and Business Advisor, will now contribute to corporate governance and value creation as the company advances its drug-delivery platform. Defence granted her 100,000 stock options, exercisable at $0.75 per share. This appointment aims to enhance the company’s leadership and capitalize on Dr. Phinney’s pharma and biotech expertise, potentially impacting treatment landscapes.

Zhao Jiaxuan, daughter of Zhao Benshan, discussed her father’s views on prenuptial agreements during a live stream, revealing he deemed them “shameful.” She also defended her brother’s career choices, highlighting her father’s low expectations for their success, prioritizing happiness and safety. Zhao’s involvement in live-streaming e-commerce reflects a shift towards new business models. These perspectives showcase evolving family dynamics and aspirations within China’s elite, contrasting traditional values with modern approaches to wealth management, filial piety, and professional achievement.

Amazon’s Prime Big Deal Days, a two-day shopping event starting October 7th, offers Prime members exclusive discounts across various categories, marking the start of the holiday shopping season. Expect deals on brands like Beats, LEGO, and Amazon devices, discounts on fall essentials and holiday items. Prime members also gain extra benefits like early access to deals, savings on fuel, and free food offers. Amazon provides tools like Rufus and Amazon Lens to help shoppers navigate the deals. The event will also be available globally.

TTM Technologies will showcase its PCB technologies and solutions at Electronica India 2025, September 17-19 in Bangalore. They’ll present solutions for mission systems, RF components, microwave assemblies, and quick-turn PCBs at booth #H41. TTM aims to engage with industry leaders and demonstrate how its technologies support advancements in data center computing, networking, medical, industrial, aerospace, and defense sectors, mirroring the growth of the Indian electronics market.

OpenAI Chairman Bret Taylor, aligning with CEO Sam Altman, believes the AI sector is currently in a bubble, despite its transformative potential. He predicts significant financial losses for some investors and companies, drawing parallels to the dot-com bubble. While many AI ventures may fail, Taylor emphasizes the underlying technological trend’s long-term validity and its capacity to drive substantial economic growth, similar to the internet’s impact. He sees the current situation as a historical pattern of investment frenzy accompanying revolutionary technology.

Innovent Biologics will present research findings at the 34th EADV Congress, showcasing data on IBI112 (picankibart) and preclinical results for IBI3013 and IAR129 via ePosters. Presentations include post-hoc analyses from Phase 2 and 3 trials of picankibart in psoriasis patients, focusing on efficacy in specific areas like the scalp and genitals, as well as comparisons between biologic-experienced and naive patients. Data on IBI3013, targeting IL-15, and IAR129, a bispecific antibody targeting IL-4R/OX40L for atopic dermatitis, will also be presented.

EnviroGold Global (ESGLF) announced a private placement aiming to raise up to C$5 million at C$0.09 per unit, with each unit including a share and a warrant to purchase another share at C$0.13. Funds will support technology development, demonstration plant operations for their NVRO Process™, debt reduction, and working capital. The offering is expected to close by October 15, 2025, pending regulatory approval. Some EnviroGold directors and officers may participate, relying on specific exemptions.

The combined wealth of Elon Musk, Larry Ellison, and Mark Zuckerberg has reached $1.03 trillion, approaching Berkshire Hathaway’s market cap. This wealth surge stems from their significant equity stakes in Tesla, Oracle, and Meta, driven by investor enthusiasm for AI advancements. Ellison’s wealth nearly doubled this year due to Oracle’s cloud and AI focus, while Zuckerberg’s increased with Meta’s strategic shift and AI integration. Musk may become the first trillionaire under a potential Tesla compensation plan tied to an $8.5 trillion valuation.