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Joan Anderson, credited with popularizing the hula hoop, recently passed away at 101. Inspired by Australians twirling wooden hoops, Anderson introduced the toy to Wham-O, resulting in a handshake deal that launched a global craze. The Hula Hoop generated $30 million in two months, though Wham-O reaped most of the financial benefits. The Andersons settled a lawsuit for a small sum, highlighting the challenges inventors face within the toy industry regarding contracts and intellectual property.

Erayak Power Solution Group (NASDAQ: RAYA) closed a registered direct offering, selling 30,612,246 Class A ordinary shares (or equivalents) at $0.098 per share. This generated approximately $3 million in gross proceeds before deducting fees and expenses. The offering also included pre-funded warrants priced at $0.098 with a minimal exercise price.

In Q2 2025, Tencent’s QQ security center cracked down on malicious online activity, disabling 3.2 million accounts. The platform targeted “water armies” manipulating online trends by removing 30,000 groups and 580,000 pieces of related content. QQ also combatted harmful online subcultures impacting minors, deleting over 30,000 posts and comments and 200 related groups. Furthermore, 2.5 million fraud-related accounts were disabled due to increasingly sophisticated scams. These measures demonstrate QQ’s commitment to user safety and combating inauthentic online behavior.

China’s NAFR fined Haier Consumer Finance 2.35 million yuan (approximately $325,000 USD) for various violations, including misleading marketing, dubious debt collection, poor loan management, opaque fees, and violating consumer rights. Several executives received warnings and fines. The infractions related to actions before 2021, and Haier Consumer Finance stated it has taken corrective measures. This is not the first regulatory action against them; they were previously fined for credit information management issues. Despite the fines, Haier Consumer Finance has seen revenue and net profit growth since 2021.

Macy’s, Inc. announced early results of its cash tender offer, increasing the maximum amount to $250 million. The offer targets outstanding notes and debentures, prioritizing retirement based on a predetermined hierarchy. Early tenders exceeded the initial target, and Macy’s will accept specific amounts of each series. The Early Settlement Date is set for July 29, 2025. The company plans to use proceeds from a new senior notes offering and existing cash to fund the buyback, redeem other debt, and cover related expenses.

Baidu Hot Search and CSM released their 2025 Mid-Year Report, analyzing trending topics in China. The platform, with 170 million users, aggregated 55,000 topics and 910 million clicks in H1. News and information remain central, but niche interests are growing. The report highlights Baidu Hot Search’s role in disseminating verified information on key events like the “315 Gala” exposé and the Guizhou Rongjiang floods, showcasing rapid response and comprehensive coverage. The platform consolidated official statements and authoritative responses to various social issues.

Tencent’s QQ is testing a new feature enabling seamless transfers between QQ Wallet and WeChat Pay accounts, found in the QQ 9.2.5 beta. Users can transfer funds between the two platforms with real-time transfers and no fees. Transfers from WeChat Pay to QQ have been possible since 2020. QQ is also integrating WeChat Pay into social payment scenarios and streamlining its user experience, focusing on core functionality and leveraging existing strengths like WeChat mini-programs.

Ardagh Group S.A. has announced a comprehensive recapitalization agreement with key financial players, including its controlling shareholder and a significant creditor coalition. The deal slashes $4.3 billion in debt via a debt-for-equity swap, extends bond maturities to 2030, and injects $1.5 billion in new capital. Ownership will transfer to noteholders, while Ardagh retains its Glass and Metal Packaging businesses. The transaction, expected to close by September 30, 2025, is subject to regulatory approvals.

In a CNBC AI News interview, Fengxue Weilai founder Zhang Xuefeng addressed rumors of earning massive profits, clarifying that revenue isn’t profit. He dismissed critics, stating they misunderstand him and his livestreams. Zhang emphasized the importance of intrinsic motivation over financial targets or external validation, advising against pointless comparisons and mistaking results for the true goal, highlighting the value of the journey and personal growth. He sees getting into top universities as a result of hard work, not the ultimate objective.

A parking dispute in Qingdao, China, escalated when a woman’s car was vandalized after being parked overnight on a street used by vendors. The woman, acknowledging potential parking violations, condemned the property damage. The incident, now under investigation, highlights tensions between residents, informal businesses, and urban regulations. Online debates reflect differing views on parking rights, vendor livelihoods, and the legality of property damage, raising concerns about balancing urban needs and enforcing the law.