Markets

Altima Energy Inc. has announced a delay in filing its annual financial statements for the fiscal year ending February 28, 2025, due to unforeseen technical issues affecting its auditors. Consequently, the British Columbia Securities Commission has issued a management cease trade order. Altima anticipates filing the required documents by August 29, 2025, and will provide bi-weekly default status reports. Trading of its shares by non-insiders remains permitted.

Microsoft announced a second major round of job cuts this year, potentially impacting up to 9,000 roles across departments, geographies, and levels. This move aims to streamline operations and reduce costs amidst increasing AI infrastructure expenses and broader industry trends of workforce adjustments. These cuts represent less than 4% of Microsoft’s global workforce.

Wheaton Precious Metals is relaunching its Future of Mining Challenge, offering $1 million to a cleantech venture revolutionizing water management in mining. The company seeks innovative solutions to boost operational efficiency and reduce environmental impact. Expressions of interest are due August 29, 2025. This initiative, in partnership with the University of British Columbia, aims to identify and commercialize groundbreaking technologies for a sustainable mining future.

Leatt Corporation won two prestigious awards at Eurobike 2025 for their innovative 5.0 Gravity Helmet and 6.0 HydraDri Jacket. The helmet received the Gold Award for Technical Highlight with its advanced 360° Turbines EVO technology and BOA® FS2 system, while the jacket was recognized for Performance Clothing. Leatt also showcased new product lines for 2026.

A federal report reveals significant issues plaguing California’s High-Speed Rail project. After 17 years and $16 billion invested, no track has been laid. Facing a July 11 deadline, the project must satisfy the U.S. Department of Transportation or risk losing $4 billion in federal funding. Costs have ballooned from $33 billion to $128 billion, with completion now projected for 2033. Delays stem from land acquisition, lawsuits, and management problems. Public confidence is low, with over 53% of voters losing faith.

Performance Shipping Inc. successfully raised $100 million through a Nordic bond offering, maturing in 2029 with a 9.875% coupon. The capital will fund tanker acquisitions and potential bond repurchases. The bonds are partially secured by two older company vessels and are expected to list on the Oslo Stock Exchange.

Douyin has addressed controversy surrounding a student celebrating a low college entrance exam score. The platform verified user accounts and confirmed the student’s score. While the mother’s account posted a store review that received 16 orders, claims of extensive live selling and significant income generation are unfounded. No malicious monetization activities were detected.

Graco Inc. will release its Q2 2025 financial results after market close on July 23, 2025. A conference call with leadership will be held on July 24, 2025, featuring a webcast and slide presentation. Both the earnings announcement and webcast replay will be available on investors.graco.com. Graco leads in fluid management technology for industrial and commercial sectors.

Xiaomi CEO Lei Jun criticized competitors for using “intercepting rhetoric” to sway customers from the Xiaomi SU7, calling the practice disparaging and unnecessary. He believes competitors should focus on their own strengths. Lei also mentioned increasing production and suggested alternatives like the XPENG G7 or Li Auto i8 for impatient buyers.

Aeries Technology reported strong core profitability, exceeding guidance with $7.4 million in Core Adjusted EBITDA for fiscal year 2025, driven by a 15% revenue increase in North America. The company is transitioning away from reporting “Core Adjusted EBITDA” as a primary metric in FY2026. Despite an overall revenue decrease and net loss for FY2025, Aeries has divested non-core international markets and is focusing on its scalable platform for future growth. The company reaffirms its FY2026 revenue guidance of $74-$80 million and Adjusted EBITDA of $6-$8 million.