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24/7 News

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8/25
01:01
Analysts say that while record cross-border deals helped some loss-making Chinese biotech companies turn profitable in the first half of this year, multinational pharmaceutical companies are signaling plans to tighten their deal budgets. Deals with global partners have replaced initial public offerings (IPOs) and pre-IPO financing as the primary option for Chinese biotech companies to raise capital to advance new drug research and development, clinical development, and regulatory approvals.
00:55
Google's move aims to change the geographical landscape of global tech manufacturing, shifting the production focus away from China and accelerating the expansion of production in countries like Vietnam and India.
00:51
The project, valued at 6 billion euros ($7 billion), was agreed upon during Saudi Crown Prince Mohammed bin Salman's visit to Paris on Monday. It will involve the construction of three theme parks, including one manga-themed park, near Cergy-Pontoise. The initiative is led by Qiddiya, an investment arm of Saudi Arabia's sovereign wealth fund, and is expected to create approximately 22,000 jobs.
00:30
As Australia's earnings season peaks, BHP and Woodside Energy are among the companies performing well, with elevated commodity prices offsetting headwinds. Bloomberg Intelligence also notes that Australian banks are positioned for significant margin expansion and a structural return on equity uplift in fiscal 2027.
00:30
The critical labor shortage in Ukraine's defense industry threatens to derail the pace of innovation, even as frontline troops may need new drone designs within weeks due to the rapid speed of battlefield advancements.
00:28
Long lines have formed in Iran's capital city as officials warn that war and inflation are triggering fuel shortages.
00:27
U.S. Treasury Secretary Scott Bessent has threatened an "economic D-Day" against Iran, which could put the U.S. at odds with its major trading partner, China. Jon Herskovitz of Bloomberg analyzes the likelihood of aggressive U.S. action against Beijing.
00:12
For decades, Switzerland's exporters have focused on adding value, but US tariffs and the strong franc are now hitting them harder.
00:12
António Guterres told the Financial Times that the world risks sliding into confrontation without global institutions that reflect the changing balance of power.
00:11
JPMorgan has shortened the time horizon for SpaceX workers and investors to borrow against their stock holdings, and may extend similar terms to Anthropic, as part of an effort to court new wealth generated by the AI sector.
00:10
PCG Power Chairman Li Wenxuan stated that policy reforms have eroded the profitability of renewable energy but created opportunities in the power trading sector. The company also provides energy storage services and manages power procurement for large industrial users, with plans to achieve a trading volume of 10 billion kilowatt-hours by 2027, enough to meet the annual electricity demand of a small European country.
00:06
Xinyisheng released its semi-annual report for 2026 on the evening of August 24. The report showed that the company's operating revenue in the first half of the year reached RMB 20.91 billion, a year-on-year increase of 100.34%; net profit attributable to the parent company was RMB 7.529 billion, a year-on-year increase of 90.98%. However, the market reacted coolly to this financial report, and the company's stock price fell by more than 2% on the following day (August 25).

Analysis pointed out that despite the doubling of revenue and net profit, the quality of profit has raised concerns. The net cash flow from operating activities in the first half of the year was only RMB 1.616 billion, far lower than the net profit for the same period, indicating a significant shrinkage in the cash content of profit. In addition, the gross profit margin of optical interconnect products declined quarter-on-quarter in the second quarter, and R&D investment accounted for only 2.1% of revenue, which also raised concerns about the company's future competitiveness and profit performance after the mass production of 1.6T products. Compared with its peers, Xinyisheng faces challenges in terms of scale and gross profit moat, and is considered to be sliding from a "duopoly" to a "follower" position.
00:06
Nomura quantitative strategist Yoshitaka Suda noted in a report published on August 24 that his recent meetings with 45 investors in Hong Kong revealed that these hedge fund managers are generally cautious on AI stocks in the short term but bullish in the long term. However, they are hesitant to chase the rally and add positions due to the market pullback in July. The report specifically mentioned that many investors are closely watching the super-large IPO of AI company Anthropic, which could potentially launch as early as October. Nomura expects that AI stocks may outperform the broader market in September due to roadshows boosting investor expectations, but could underperform in October as more investors cash out, posing a risk of retail investors stampeding to sell.
00:05
According to tech media The Information on August 24, Elon Musk stated directly at an all-hands meeting on the day the acquisition was completed that SpaceX's AI division was lagging behind competitors, and specifically praised Anthropic for being in the lead in the AI race. He emphasized that SpaceX AI's Grok was not a leader in its market and urgently needed to catch up, adding that SpaceX would continue to accumulate the industry's strongest hashrate reserves. Following this acquisition, Cursor CEO Michael Truell will report directly to Musk. Since the two parties signed a cooperation agreement in April this year, 45 Cursor employees have left, but its annualized revenue reached $4 billion in June this year, which will directly boost SpaceX's AI business revenue.
8/24
23:18
Tokio Marine Holdings Inc., the Japanese insurer in which Berkshire Hathaway Inc. recently took a stake, is close to finalizing an acquisition target after reviewing Australian and Canadian firms, the Financial Times reported.
23:13
Lookonchain monitoring: Bitcoin mining company Metaplanet deposited 1,000 Bitcoin (approximately $79.77 million) into Coinbase Prime. The company previously purchased 43,000 Bitcoin at an average price of $96,191, totaling $3.48 billion.

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