Markets

Chinese retailer Pang Dong Lai has refuted online claims falsely attributed to them regarding job losses resulting from e-commerce decline. The company stated they never released content suggesting “If e-commerce collapses, 5 million people will lose their jobs.” They urged the public to verify information and avoid misinformation. Pang Dong Lai reported strong first-half sales of RMB 11.707 billion. Founder Yu Donglai announced ambitious 2025 targets focused on profits and employee compensation, indicating a commitment to talent retention.

Saba Capital Income & Opportunities Fund II (SABA) announced the composition of its July 31, 2025 distribution, in accordance with SEC regulations. The distribution of $0.058 per share is comprised of $0.04284 (73.87%) net investment income and $0.01516 (26.13%) return of capital. Year-to-date, distributions total $0.464 per share, with $0.179 (38.58%) from net investment income and $0.285 (61.42%) from return of capital. Investors are advised not to equate distribution amounts with fund performance. Saba Capital Management, L.P. is now the investment advisor.

AuthID (AUID) will release its Q2 2025 financial results on August 14, 2025, after market close. A live webcast hosted by CEO Rhon Daguro and CFO Ed Sellitto will follow at 5:00 p.m. ET to discuss the results and provide a company update. Registration is required to join the call. A replay and presentation materials will be available on authID’s Investor Relations Events page for 90 days. AuthID is a biometric identity verification and authentication solutions provider.

Erayak Power Solution Group (RAYA) announced a $7 million registered direct offering, selling 107,692,307 Class A ordinary shares at $0.065 each. The offering, expected to close around August 1, 2025, includes pre-funded warrants with a $0.0001 exercise price. Craft Capital Management is the sole placement agent. This infusion of capital aims to bolster Erayak’s financial position, but the issuance of a large number of new shares will likely cause significant dilution for existing shareholders.

A tech company employee, Li, exploited his position as account manager for a beer company’s marketing campaign to embezzle 6.5 million yuan ($900,000 USD). Li manipulated the system to generate fake winning QR codes, which he and his associates redeemed. The scheme, lasting over a year, was discovered after an audit revealed unusually high prize payouts. Li was found guilty of embezzlement and sentenced to six years in prison with a 100,000 yuan fine.

A couple in Chongqing was detained for posing as Meituan delivery drivers and running a street-level begging scam. They falsely claimed to need money for their son’s surgery. Meituan confirmed the man had briefly registered as a rider in 2019 but deactivated his account in 2023. He purchased a uniform online to exploit public sympathy. Meituan warned against impersonating riders and highlighted its support programs for legitimate riders, including financial assistance for critical illnesses.

Tri Pointe Homes is expanding into Utah, opening its first community, Polaris at Terraine, in West Jordan. Plans include five communities across Salt Lake, Utah, and Wasatch counties, offering approximately 300 homes designed for the Utah lifestyle. This expansion comes as Utah boasts a strong economy and high demand for housing. Tri Pointe aims to provide a customer-centric experience with personalized designs and HomeSmart® technology. A Design Studio is planned for 2026.

Microsoft has joined the $4 Trillion Club, becoming the second company after Nvidia to reach this valuation. Shares surged 8% following a strong Fiscal Year 2025 Q4 earnings report. Microsoft reported a Q4 revenue of $76.44 billion, up 18% year-over-year, driven by AI-powered cloud services. Full-year revenue reached $281.724 billion, a 15% increase. Analysts are optimistic, with Morgan Stanley and JPMorgan Chase raising their price targets. Nvidia first achieved the $4 trillion milestone earlier in July.

KeyBank secured naming rights for the Pro Football Hall of Fame’s new event center, to be named KeyBank Center, opening in 2027. The multi-purpose venue will feature a VIP club, rooftop event space, and educational programming, boosting local tourism and economic activity. The partnership includes engagement with Hall of Fame legends and a financial literacy program, marking KeyBank’s commitment to Northeast Ohio and the community. Groundbreaking is set for fall 2025.

Chinese consumers are increasingly criticizing restaurants for alleged “double standards,” using fresh ingredients for dine-in customers but cheaper, frozen substitutes for takeout orders. The Jiangsu Provincial Consumer Rights Protection Committee (JSCRPC) argues this differential treatment violates consumer rights to fair dealing and transparent information. Key concerns include ingredient quality discrepancies, smaller takeout portions, and inflated delivery prices. The JSCRPC emphasizes that consumers deserve consistent quality regardless of consumption method, and experts warn against exploiting informational asymmetry, raising issues of transparency and ethical practices in the food delivery sector.