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24/7 News

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8/25
21:03
On-chain monitoring by Lookonchain indicates that Garrett Jin (@GarrettBullish) did not take profit after his Bitcoin long position returned to profitability. Instead, he further increased his long by 600 BTC, valued at $47.19 million. His current Bitcoin long position totals 1,868 BTC, worth $147 million, with an unrealized profit of $2.9 million and a liquidation price of $44,455. Additionally, Jin holds a short position of 32,760 ZEC ($25.5M) with an unrealized loss of $11 million and a liquidation price of $2,529.
21:02
Following Moderna's breakthrough cancer vaccine trial, Chinese companies including Jiangsu Hengrui Pharmaceuticals and Li Ka-shing-backed CK Life Sciences are pushing forward with similar programmes. These companies have seen their stock prices surge, eyeing a large potential market given that nearly 2.6 million people die from cancer in China alone each year.
20:42
Robotics startup Generalist has reached a $3 billion valuation following a nearly $200 million extension round led by 8VC. This new capital brings the company's Series B funding total to $600 million, just months after it was valued at $2 billion in June. Generalist, founded by former Google DeepMind researchers and a Boston Dynamics engineer, is developing an AI foundation model for robots and counts Nvidia among its early backers.
20:40
Seoul stocks turned higher on Wednesday, with the benchmark Korea Composite Stock Price Index (KOSPI) rising 61 points, or 0.9 percent, to 6,803.74 as of 9:15 a.m. The gains were primarily driven by chipmakers, ahead of the earnings release from US chip giant Nvidia. Overnight, major stock indexes on Wall Street also closed higher on a chip rebound, with the tech-heavy Nasdaq up 0.66 percent and the S&P500 adding 0.32 percent.
20:40
Amazon announced Tuesday that it will soon discontinue Mechanical Turk (MTurk), a 21-year-old service that founder Jeff Bezos once described as "artificial artificial intelligence." Launched in 2005, MTurk connected workers with simple digital tasks that were easy for humans but challenging for computers. The company stated it regularly evaluates its programs and made the decision to close the service following an assessment. The platform has seen a decline in recent years amid rapid advancements in AI models and the emergence of new data startups.
20:34
Research firm TrendForce reports that contract prices for storage components such as DRAM and NAND Flash have significantly increased as major Cloud Service Providers (CSPs) accelerate their investment in AI infrastructure. The firm expects storage to account for 68% of CSPs' total capital expenditure by 2027, up from 47% in 2026.

Specifically, server DRAM contract prices are projected to cumulatively rise by approximately 270% by 2026, enterprise SSD (NAND Flash) by 235%, and HBM may still see an increase of 70% to 140% by 2027. TrendForce believes that high storage costs will provide a basis for AI chip suppliers like NVIDIA to raise prices and prompt cloud vendors to optimize their AI system storage architecture, for example, by adjusting RDIMM configurations or reducing HBM capacity.
20:30
China's banks have begun pricing bonds against the nation's overnight financing cost, a sign the overnight rate is increasingly becoming a benchmark for China's financial system.
20:27
The firm is one of several professional services businesses targeted by the American Alliance for Equal Rights in connection with the probe.
19:54
Preliminary data released by the Bank of Japan (BOJ) showed that the services producer price index (all items) increased by 3.6% year-on-year in July. Excluding international transportation, the index rose by 3.1% year-on-year.
19:49
Bearish bets against shares of Z.AI Co. and MiniMax Group Inc. have soared to records ahead of their earnings reports, highlighting growing investor worry over China’s heated AI rivalry.
19:45
Raphael Arndt will leave his role as head of Australia’s A$356 billion ($255 billion) sovereign wealth fund, Future Fund, to return to the private sector. This move is the latest in a series of changes in the fund's top ranks.
19:14
The move has led to significant financial strain for some firms, with Heilongjiang Agriculture Co. reporting its first first-half loss in over two decades as a public company.
19:07
The international accounting firm's report projects Asia-Pacific to become the largest contributor of financial services value added worldwide, driven by the region's growing economy and rising wealth. China is expected to lead in scale and innovation within the region.
19:03
Canada on Tuesday announced retaliatory tariffs of C$20 billion against the United States, with steel and aluminum tariffs doubling to 50% and covering approximately 700 categories of goods. Canada also launched a C$7.5 billion aid package to support affected businesses. This move led to a further escalation of the US-Canada war of words, with former US President Donald Trump subsequently threatening to rename Lake Ontario "Lake America."
19:03
Hong Kong's super-rich are facing significant losses as some luxury homes are selling at painful discounts, with financially pressured owners accepting substantial price cuts to exit the market. One recent example includes a Bel-Air luxury house sold for HK$138 million (US$17.6 million), approximately HK$37 million (about US$4.7 million) below its 2018 purchase price of HK$175 million.
19:02
The bill aims to punish corrupt officials severely and expand the scrutiny of large amounts of wealth transferred overseas.
19:01
Navellier noted that NVIDIA is increasingly vertically integrating data center development, which will ensure its market dominance. However, its stock rating is "C" due to factors including lower earnings surprise and earnings momentum scores, as well as weakening institutional buying pressure, indicating a slowdown in growth rates. Furthermore, he expects NVIDIA to release its earnings report on August 26, the same day the U.S. will publish its July Personal Consumption Expenditures (PCE) report, and the Federal Reserve's Jackson Hole Symposium will open on August 27. These events could all impact the stock market this week.
18:57
Richmond Federal Reserve President Thomas Barkin (a 2027 FOMC voting member) stated that the continuous expansion of U.S. government debt could eventually lead to bond buyers exiting the market. He described the current debt level as a persistent "headwind" that the Federal Reserve must contend with. This warning comes as the U.S. national debt surpassed $40 trillion in August 2026, and the yield on 30-year U.S. Treasury bonds has risen to highs not seen before the 2008 financial crisis, underscoring the profound impact of fiscal pressure on monetary policy and markets.
18:57
Faced with high interest rates and stalled asset sales, the global private equity industry is adopting "structured equity," a new financing tool. Through customized agreements with private equity giants like Apollo Global Management and Bain Capital, firms can return cash to investors without selling assets. Currently, global buyout funds hold approximately $3.8 trillion in unsold assets, with the average holding period extended to seven years, causing the distribution to paid-in capital (DPI) to fall to its lowest level since 2000 last year. This tool typically takes the form of preferred stock or convertible securities, offering private capital providers a mid-to-high annualized rate of return, and has spread from the US and Europe to Asia. Critics argue that this is an "expensive temporary solution" that does not address the fundamental exit dilemma, and merely recycles capital among the same institutional investors while generating additional fees.
18:52
Anthropic has promoted Associate General Counsel Elena Leichty to General Counsel. Former General Counsel Jeffrey Bleich has transitioned to the newly created role of International Special Ambassador, focusing on global policy and diplomatic affairs. This personnel change is a crucial step in Anthropic's active preparations for its planned IPO later this year, aiming to strengthen its capabilities in handling regulatory and government relations.
18:49
The Public Company Accounting Oversight Board (PCAOB) has eliminated the office that was established during the Biden administration to represent the interests of shareholders, a move that accelerates the Trump-era overhaul of the regulator.
18:30
Brazil's data protection authority (ANPD) imposed the fine, citing TikTok's alleged mishandling of children and teenagers' personal data. The regulator found TikTok breached data privacy laws by collecting and processing young users' information without a valid legal basis or adequate safeguards, potentially affecting at least 8 million children. The ruling also mandates TikTok to formulate an improved comprehensive youth-protection framework and allows the company 10 days to appeal.
18:19
Asian equities are poised to rise after WTI crude oil fell 5.13% to $80.650 during the day, with persistent declines in oil prices easing inflation concerns and pushing down bond yields, Bloomberg Markets reported. Meanwhile, traders are awaiting NVIDIA's earnings report for the latest clues on the outlook for artificial intelligence.
18:11
Syria’s Kurds have dissolved their military force and integrated fighters with Damascus, marking a step forward in the push to bring the country under central government control.

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