Markets

Crown Electrokinetics (CRKN) will voluntarily delist from the Nasdaq due to non-compliance with minimum bid price requirements, following a trading suspension on March 5, 2025. The company plans to file a Form 25 with the SEC. While Nasdaq planned to file the form, CRKN opted to initiate the delisting process. The move raises questions about the company’s financial health and future trajectory, potentially leading to restructuring or alternative funding avenues. Trading may continue on the OTC market.

U.S. beef prices are soaring to record highs due to trade tariffs, drought, and rising feed costs, potentially leading to the most expensive burgers in history. Ground beef prices surged to $13.49 per kilogram in June, a 12% increase year-over-year. Steak prices are also rising. A new 50% tariff on Brazilian goods, effective August 1st, will further inflate prices, potentially raising the total tax burden on Brazilian beef to 76%. Some businesses are reducing patty sizes to cope with the increased costs.

Music Licensing, Inc. (OTC: SONG) has engaged a PCAOB-registered audit firm to review its semi-annual financials for the period ending June 30, 2025. This move, following their July 2 announcement, signifies a commitment to PCAOB-compliant financial reporting, increased transparency, and regulatory adherence. SONG manages over 2.5 million musical works, holding an estimated 7.4% of the U.S. public performance rights market, licensing music to platforms like TikTok and iHeartMedia. The audit aims to build investor confidence and facilitate future capital market activities.

Pang Dong Lai, a Chinese retailer known for its exceptional customer service and quality control, plans to enter the infant formula market. Founder Yu Donglai announced the initiative on Douyin, aiming to focus on food safety and quality of life. The news has generated significant excitement among Chinese consumers, particularly expectant mothers who expressed hope for a reliable domestic alternative. Pang Dong Lai, with 13 stores and a central kitchen, generated nearly 17 billion yuan in sales in 2024.

Barclays has appointed Alex Ham as Global Chairman of Investment Banking, effective in early 2026. Ham, previously Co-CEO of Deutsche Numis, brings extensive experience in connecting high-growth European companies with global investors. This move signals Barclays’ ambition to strengthen its position in advising innovative businesses, leveraging Ham’s network and expertise to enhance its global franchise, particularly in ECM and M&A, and connect with venture capitalists and private equity investors. The appointment aims to boost Barclays’ profile and deal flow.

A 48-year-old Thai man suffered a bizarre accident after rear-ending a pickup truck. The impact sent him headfirst into the truck bed, landing directly on a durian

Team Broadcasts (“Tuan Bo”), a rising trend on Chinese live streaming platforms, involves multiple hosts, often female, sharing a single broadcast. This format allows hosts to leverage collective charisma, skills, and audience reach.

Cango Inc. (NYSE: CANG) has completed its strategic shift to Bitcoin mining with a new Board and senior management team. Xin Jin, founder and CEO of Antalpha Platform Holding Company, is the new Chairman. Peng Yu, with experience in BTC mining, energy, and asset management, assumes the role of CEO. The leadership changes coincide with the resignations of Xiaojun Zhang and Jiayuan Lin. This transformation signals Cango’s ambition to establish a presence in the digital asset space.

Xiaomi enthusiasts await CEO Lei Jun’s annual address; however, the timing is uncertain. Redmi’s Wang Teng suggests Lei needs a break after a busy June. Lei’s annual speeches since 2020 have been highly anticipated, with last year’s focusing on the challenges of Xiaomi’s entry into the electric vehicle market. He attributed the success of the Xiaomi SU7 to collective courage.

BGI Genomics CEO Yin Ye’s predictions of humans living to 150 and Gen Z having limitless lifespans have sparked debate. A resurfaced video reveals Yin’s concern over the inaccessibility of advanced medical treatments due to high costs. He advocates for drastically reducing these costs to ensure equitable access to precision medicine, even in underserved regions. He also discussed the “overflow effect,” arguing that initial adoption by the wealthy will eventually lead to universal access to medical technologies, preparing society for extended lifespans.