Markets

Planet Based Foods (PBFFF) announced leadership and governance changes, appointing Supreet Sidhu as CFO and Beata Jirava as an independent director. The company is seeking court relief regarding the timing of its 2023 and 2024 Annual General Meetings due to past financial constraints stemming from decreased consumer demand for plant-based products and cost structure issues. PBFFF aims to hold both AGMs by December 31, 2025, pending court approval. These changes reflect PBFFF’s commitment to transparency and sustainable value creation.

Alibaba’s 88VIP membership program is expanding its perks without raising prices, adding over 10 new exclusive benefits. The upgrade combines features from previous programs, offering complimentary Hema X membership, prioritized Ele.me deliveries, Feizhu perks, movie ticket discounts, and Gaode ride-hailing vouchers. This builds upon previous enhancements and brings the total number of benefits to over 20, covering dining, entertainment, travel, and daily life. With over 50 million members, 88VIP is influential in Chinese consumer spending.

Zhou Hongyi, founder of 360, addressed concerns about Nvidia’s H20 AI chip security at a Beijing conference, following reports of Chinese regulatory scrutiny. While acknowledging the difficulty of detecting hardware backdoors, Zhou stated software-related vulnerabilities are inevitable. He distinguished between intentional backdoors and unintentional vulnerabilities, suggesting China’s suspicions are reasonable given past US government requests to Nvidia. Despite this, Zhou believes Nvidia likely has no deliberate malicious intent and proposed a third-party security audit to address concerns. Nvidia denies any backdoors in its chips.

Energy Fuels Inc. reported a strong Q2 2025, driven by record uranium production at Pinyon Plain. Strategic focus on rare earth elements and heavy mineral sands is progressing, with the Donald Project in Australia receiving key approvals. The company is piloting dysprosium oxide production and anticipates terbium oxide production in November 2025. Energy Fuels boasts over $250 million in liquidity and no debt, with improved net loss compared to Q1 2025. Uranium sales guidance was updated to 350,000 pounds.

China’s MSS warns of increased espionage via cyberattacks targeting personal and state data. Exploits include compromised smart cameras (default passwords, lack of updates) and malware spread through automatic downloads on online forums. The MSS advises users to strengthen security: avoid default passwords, use reliable antivirus software, update systems, and exercise caution with automatic downloads, urging vigilance against foreign intelligence agencies.

ONEOK (OKE) announced the pricing of a $3.0 billion senior notes offering. The offering includes tranches of 7-year, 10-year, and 30-year notes. Net proceeds, estimated at $2.96 billion, will be used to retire commercial paper and repay senior notes due in 2025. Remaining funds will go towards general corporate purposes, potentially including further debt reduction. The offering is expected to close around August 12, 2025. Several major financial institutions are involved as joint book-running managers and co-managers.

OpenAI is teasing a livestream event on X, sparking speculation about the unveiling of GPT-5. A typo in the announcement fueled the rumors. CEO Sam Altman hinted at GPT-5’s integration of several technologies. The standard ChatGPT version may offer free, limited access to GPT-5’s basic capabilities. Plus and Pro subscribers could gain access to more advanced features like voice integration, enhanced search, and research tools.

Former President Trump intends to impose tariffs of approximately 100% on imported chips and semiconductors, but would waive them for companies that manufacture in the U.S., incentivizing domestic production. Tariffs could also be levied on products containing semiconductor chips. This policy aims to reshape supply chains and bolster U.S. self-reliance in critical technology. Apple, with its existing U.S. investments and manufacturing initiatives, appears strategically positioned amidst these potential changes, potentially employing 20,000 more in the US.

GlobalFoundries and Apple are expanding their partnership to advance semiconductor tech and bolster U.S. manufacturing. GF will manufacture wireless connectivity and power management chips for AI devices at its Malta, NY, facility. This builds on GF’s $16B investment in NY and VT sites, aligning with Apple’s $600B American Manufacturing Program pledge. The collaboration supports the push for domestic chip independence and AI leadership. This strategic move enhances GF’s position by focusing on specialized process technologies for next-gen devices.

On August 5, 2025, Nexera Energy (NGY, EMBYF) received a cease trade order (CTO) from the Alberta Securities Commission due to a failure to file annual financial documents by the July 29 deadline. The missing documents include audited financial statements, management’s analysis, CEO/CFO certifications, and oil/gas disclosures. The CTO halts trading in all Nexera securities but can be revoked if the company files the required documents within 90 days, which management anticipates.