Markets

The outflow of AI talent from top Chinese universities like Tsinghua and Peking University is under debate. Contrary to popular belief, data suggests a significant portion of graduates are returning to China. Peking University professor Wang He argues that staying abroad for education or work doesn’t equate to a lack of patriotism, emphasizing the value of international technological exchange. Tsinghua University data shows only 8% of 2023 graduates pursued overseas study, contradicting claims of mass emigration. The Tsinghua Alumni Association reports a substantial return rate among alumni who studied abroad, driven by China’s growing economy and innovation initiatives.

BHP has launched applications for its 2026 Xplor cohort, a nine-month accelerator program supporting early-stage ventures focused on critical mineral discovery. The program offers up to $500,000 in equity-free funding, mentorship, and access to BHP’s global network. Aimed at boosting critical mineral supply, Xplor fosters collaboration between major and junior companies. Applications are open from September 8 to October 15, 2025, offering a chance for explorers to accelerate projects and access BHP’s expertise and 21-company alumni network.

Wix (WIX) priced $1.0 billion of 0.00% Convertible Senior Notes due 2030. The initial conversion price is $210.49 per share. Wix will use the proceeds for capped call transactions ($62.5M), share repurchases ($75M), and general corporate purposes. The capped call transactions aim to minimize dilution, with an initial cap price of $267.89. The notes mature on September 15, 2030, unless earlier repurchased or converted. Upsized from $750M, the offering reflects investor confidence.

Mr. Feng from Guangdong mistakenly purchased a low-speed electric vehicle resembling a Maserati in an online auction for ¥19,966, believing it was a genuine new energy vehicle. He only realized his mistake after winning the auction and discovering it was a “lao tou le.” Initially facing a penalty for cancellation, he successfully contested the charges after media attention, receiving a full refund. The incident highlights deceptive marketing tactics and the need for vigilance in online auctions, urging stricter platform verification and clearer regulations for low-speed electric vehicles.

NCL Corporation, a subsidiary of Norwegian Cruise Line (NCLH), has priced a $2.05 billion senior notes offering. The offering includes $1.2B of 5.875% notes due 2031 and $850M of 6.250% notes due 2033. Proceeds will fund a tender offer for 2026/2027 notes, redeem untendered notes, and fully redeem 2029 senior secured notes. The deal, expected to close September 17, 2025, is offered to qualified institutional buyers/non-U.S. investors and is designed to be leverage-neutral to NCLC’s balance sheet.

Voxtur Analytics (VXTRF) received a cease trade order (CTO) from Canadian securities authorities on September 5, 2025, for failing to file its Q2 2025 financial statements. The CTO prohibits trading of company securities in Canada. Voxtur also faces potential downgrade to the OTC Pink market if Q2 financials aren’t posted by October 13, 2025. The company received a Notice of Default from its lender due to missed debt payments, failure to maintain required EBITDA, and unpaid interest.

On September 8, 2025, Millrose Properties, Inc. announced the pricing of a $750 million private offering of 6.25% Senior Notes due 2032, an upsize of $250 million. Proceeds will repay a $500 million term loan and be used for general corporate purposes. The offering, expected to close September 11, 2025, is targeted at qualified institutional buyers and non-U.S. persons, as the notes are not registered under the Securities Act. The 6.25% coupon reflects market conditions and investor confidence in Millrose’s strategy of developing residential land for home builders.

Trupanion (TRUP) has launched its 2025 truFame contest, inviting members to submit their pets’ photos and stories for a chance to become brand ambassadors in 2026. The submission phase runs from September 8-19, followed by public voting from September 25-October 6. Winners will be announced the week of October 6 and featured in Trupanion’s marketing campaigns. Last year’s contest had over 6,000 entries. Trupanion leverages this contest to strengthen community engagement and generate user content.

Xiaomi employee Wang Teng has reportedly been fired after an internal investigation revealed he leaked confidential company information. An internal memo citing severe policy violations confirmed the dismissal. The specifics of the leak remain undisclosed, sparking industry speculation. Tech blogger “Digital Chat Station” denied involvement amid rumors linking them to the incident. The case highlights challenges tech companies face in protecting sensitive data and the growing influence of online tech commentators on market dynamics. Xiaomi’s swift action underscores the importance of information security.

Fannie Mae’s August 2025 National Housing Survey reveals a slight dip in consumer housing sentiment. The Home Purchase Sentiment Index (HPSI) decreased marginally, both month-over-month and year-over-year, indicating a slow cooling of housing market optimism. Persistent inflation, fluctuating mortgage rates, and affordability challenges are cited as factors weighing on consumer sentiment. The rise of AI-powered real estate tools, while enhancing transparency, also highlights the financial realities of homeownership. The HPSI is closely monitored as a leading indicator of future housing market activity.