Shenzhen Court Hands Evergrande Founder Life Sentence, Orders Assets Seized
A Shenzhen court found the once-richest man in China guilty of fraud, embezzlement and illegal deposit-taking tied to Evergrande’s collapse.
North Korea Calls Trump’s Drill Cuts Meaningless, Denies Any Contact
Kim Yo Jong shrugged off Trump’s scaled-back military drills as beside the point — and said she has no idea what he’s talking about when it comes to any recent contact with her brother.
Diageo Cuts Nearly 2,000 Jobs Under New CEO’s Cost-Cutting Push
New CEO Dave Lewis says the cuts target “massive duplication” in back-office roles — but his first annual report reveals a company also absorbing a $1.5 billion impairment tied to Türkiye.
First mRNA Cancer Vaccine Succeeds in Late-Stage Trial, Moderna Stock Soars
A personalized mRNA vaccine that trains the immune system to fight each patient’s specific tumor just became the first of its kind to succeed in a Phase 3 trial, sending Moderna to its best trading day since going public in 2018.
Sponsored · Altamira Gold Corp.
U.S. Set to Halve Steel and Aluminum Tariffs on Canada in New Deal
Steel and aluminum producers in Canada stand to gain the most concrete win from a tentative trade agreement with the United States, with the rate on their exports set to be cut in half. A source with knowledge of the agreement said Washington’s tariffs on Canadian steel and aluminum are dropping to 25% from 50%. […]
Court Revives Signature Bank Fraud Lawsuit Against KPMG
A securities lawsuit targeting KPMG and seven former Signature Bank executives and directors is headed back to federal court after an appeals panel ruled that the bank’s 2023 receivership did not strip investors of their right to pursue fraud claims arising from their own stock purchases. The Second US Circuit Court of Appeals on Wednesday […]
Chinese Robotics Firm Soars 460% On IPO Day 1 To $50B Valuation
Unitree Robotics entered the public market Wednesday with an IPO valuation of about 60.99 billion yuan. By the closing bell, investors had repriced the Chinese humanoid robot maker at roughly 341.8 billion yuan, or $50.7 billion. The stock closed at 845 yuan on Shanghai’s STAR Market, 460.34% above its 150.80-yuan offer price, after opening as […]
Canada Moves to Block Nortera’s Green Giant Acquisition
Canada’s competition regulator is trying to stop Nortera Foods from turning a 30-year manufacturing relationship into ownership of two major vegetable brands, arguing that control of Green Giant and Le Sieur could hurt grocery competition even though Nortera already produces the products in Canada. The Competition Bureau said that it filed an application with the Competition Tribunal […]
Sponsored · PTX Metals Inc.
QE Time? US Treasury Doubles Long-Term Bond Buybacks To $4 Billion
The US Treasury is doubling the amount of older long-term government debt it can purchase in individual buyback operations, expanding a liquidity program after long-term borrowing costs climbed to levels unseen in decades. Beginning September 9, Treasury will raise the purchase maximum for its 10-to-20-year and 20-to-30-year nominal coupon buckets from $2 billion to at least […]
Aurora Accuses Curaleaf of Trying to Buy It ‘at the Lowest Price Possible’
Aurora Cannabis (TSX: ACB) has escalated its defense against Curaleaf Holdings (TSX: CURA), arguing that the fight over the hostile takeover should center not only on Curaleaf’s stated US$4.00-per-share valuation, but on the European medical cannabis assets and future growth that would be transferred under an offer carrying a US$5.00 ceiling. Aurora on Wednesday urged […]