Trending Market News

Fast-fashion retailer Shein is targeting a September or October 2025 Hong Kong IPO after receiving approval from Chinese securities regulators on Friday. The company, previously valued at $100 billion in 2022, plans to sell up to 8% of its shares and will compensate investors for declining valuation through cash payments to purchase additional shares.

• Shein received approval from Chinese securities regulator for its Hong Kong listing
• The company aims to sell up to 8% of its shares in the September-October timeframe
• Shein was valued at $100 billion in 2022 fundraising but will compensate investors for valuation decline

Tanker traffic through the Strait of Hormuz slowed significantly on July 10, 2026, following military clashes between the U.S. and Iran over control of the critical waterway. Oil prices rose 4-5% for the week as tensions threatened the fragile interim truce. The conflict comes amid Iran's mourning period for slain Supreme Leader Ayatollah Ali Khamenei, killed in a February airstrike.

• Daily tanker traffic had recently reached 40 ships, still far below the pre-conflict average of 125-140 daily sailings through the strait, which handled about a fifth of global oil supplies before the war
• Global oil supply rose 4.1 million barrels per day in June but remains 9.4 million bpd below pre-war levels, with the IEA warning of tight diesel and gasoline supplies
• U.S. forces struck approximately 90 Iranian military targets after Iran allegedly attacked three tankers; Iran retaliated by firing missiles at U.S. bases in Kuwait, Qatar, Bahrain, and Jordan

Circle, the issuer of the USDC stablecoin, received approval from the U.S. Office of the Comptroller of the Currency to operate as a trust bank, causing its shares to surge 14% in premarket trading. The charter allows Circle to directly manage reserves for USDC, which has over $73 billion in circulation, without relying on third-party banks. This move reflects intensifying competition in the stablecoin industry following regulatory clarity provided by the GENIUS Act.

• Circle will operate as Circle National Trust with the ability to directly hold cash and Treasury assets backing its USDC stablecoin, eliminating dependence on third-party custodians
• The trust bank charter provides federal regulation instead of state-by-state oversight, reducing compliance complexity and costs for the fast-growing company
• Traditional financial firms are increasingly issuing their own stablecoins following the GENIUS Act framework passed nearly a year ago, intensifying competition for Circle's USDC market share

British drugmaker GSK announced positive late-stage trial results for an experimental treatment targeting advanced or relapsed small-cell lung cancer. The drug has been licensed from China's Hansoh Pharma. The successful trial represents a potential new therapy option for a difficult-to-treat cancer type.

• The experimental drug showed positive results in a late-stage clinical trial for small-cell lung cancer patients with advanced or relapsed disease
• GSK licensed the cancer therapy from Chinese pharmaceutical company Hansoh Pharma
• Small-cell lung cancer is an aggressive form of the disease, making new treatment options particularly significant for patient outcomes

A Ryanair flight from Thessaloniki, Greece to Germany was forced to make an emergency landing on Friday after a window was dislodged mid-flight. According to two industry sources and local media reports, a piece of engine debris broke off and shattered a window, causing cabin decompression and partially sucking a passenger out, though Ryanair only confirmed one person received medical assistance.

• The incident occurred shortly after takeoff from Thessaloniki airport, with the aircraft landing normally and passengers returning to the terminal
• Local media and two sources reported that engine debris struck the window, causing decompression, while unverified social media videos showed a broken window and deployed oxygen masks
• Ryanair's statement did not elaborate on the cause or confirm details about the passenger being partially sucked out of the window

The European Commission charged Meta Platforms for failing to curb addictive features on Instagram and Facebook, following a two-year investigation under the EU's Digital Services Act. Meta faces fines of up to 6% of global annual turnover if it fails to address concerns about personalized recommendations, autoplay, and infinite scroll that encourage prolonged engagement, particularly among young users.

• EU regulators demand Meta disable features like autoplay and infinite scroll by default, introduce effective screen-time breaks, and make recommendation systems less engagement-focused
• Meta disputes the charges, stating they don't account for protective measures like Teen Accounts that give parents control over sensitive content and app features
• The charges mirror similar EU action against TikTok and come as the Commission prepares potential Europe-wide social media ban for teenagers, to be announced in September

SoftBank Corp and PayPay are in talks to invest several hundred billion yen in Seven & i Holdings, the operator of 7-Eleven convenience stores worldwide. SoftBank aims to deploy its in-house AI technology and autonomous robots to improve store management and reduce manpower at Seven & i locations. The potential investment comes a year after Seven & i ended a prolonged takeover battle with Canadian rival Alimentation Couche-Tard.

• The investment will likely total several hundred billion yen, with Sumitomo Mitsui Card potentially also taking a stake
• SoftBank plans to leverage its AI capabilities developed with OpenAI to enhance store operations and introduce autonomous robots for labor reduction
• Seven & i operates 7-Eleven chains globally with Japan and the U.S. as its largest markets, having recently fended off what would have been Japan's largest foreign buyout attempt

Germany's lower house of parliament approved a healthcare reform bill aimed at saving €16.3 billion ($18.63 billion) by overhauling the country's health insurance system. The legislation now moves to the Bundesrat, where approval is considered likely, though pharmaceutical companies have strongly opposed the bill, fearing tougher pricing measures will harm profitability and reduce investment in Germany.

• The reform is designed to save €16.3 billion and is part of a broader government economic package announced last week
• Pharmaceutical companies, including AstraZeneca, have voiced fierce opposition, warning the law penalizes innovation and puts German investments at risk
• The bill must still pass the Bundesrat (representing Germany's 16 federal states), though sources indicate approval is likely; failure to secure a majority would send it to a mediation committee

BMW reported a 4.9% decline in global vehicle deliveries in Q2, selling 590,962 vehicles, primarily driven by a sharp 30.2% year-over-year drop in China sales. The German automaker joins Mercedes-Benz and Porsche in reporting weaker deliveries amid intensifying competition in the Chinese market.

• China deliveries plunged 30.2% year-over-year in Q2, significantly dragging down BMW's global sales performance
• BMW saw growth in other markets, with U.S. deliveries up 11.9% and Europe (excluding Germany) up 7.6% in the quarter
• Mercedes-Benz and Porsche also reported Q2 delivery declines of 8% and 16% respectively, reflecting broader struggles for German luxury automakers in China

The International Energy Agency (IEA) reported that global oil demand is projected to decline for the first time since 2020. The drop is attributed to disruptions caused by conflict involving Iran that has impacted oil production and exports in the Middle East.

• This marks the first annual decline in world oil demand since the COVID-19 pandemic year of 2020
• War involving Iran has disrupted production and export operations in the Middle East region
• The IEA released these findings in its latest oil market report on Friday

The International Energy Agency has cut its Russian oil production forecasts due to intensified Ukrainian drone attacks on energy infrastructure. Russia's output is now expected to average 8.8 million barrels per day through 2027, down from 9.2 million bpd in 2025. The strikes have disrupted refineries and storage facilities, forcing Russia to increase crude exports while implementing fuel export bans to address domestic shortages.

• IEA reduced Russian oil supply outlook by 85,000 bpd for 2026 and 150,000 bpd for 2027, projecting 8.9 million bpd this year and 8.8 million bpd in 2027
• Russian crude exports surged to 5.8 million bpd in June (up 620,000 bpd from May) as refinery attacks forced more crude to be shipped abroad rather than processed domestically
• Russia introduced a diesel export ban this week, adding to existing gasoline and jet fuel restrictions, to combat domestic fuel shortages caused by Ukrainian strikes on refineries

Bayer secured €3 billion ($3.4 billion) in equity from Apollo-managed funds through a deal involving its long-acting reversible contraceptives (LARC) business. Apollo will take a minority, non-controlling stake in a new entity holding the LARC business, while Bayer retains majority ownership and complete operational control. The transaction aims to strengthen Bayer's balance sheet amid increased liquidity needs from bond maturities and litigation procedures.

• Bayer will maintain majority ownership and complete operational control of the LARC business, which remains part of the pharmaceuticals division and fully consolidated in group accounts
• The €3 billion injection is designed to enhance financial flexibility as Bayer faces increased liquidity requirements this year related to bond maturities and litigation procedures
• The deal is expected to close in the third quarter of 2026, subject to antitrust approval and customary conditions

British budget airline easyJet agreed in principle to a £5.7 billion ($7.65 billion) takeover bid from Apollo Global Management at £7.15 per share, topping a previous offer from Castlelake. The deal represents a superior outcome for easyJet shareholders and marks a significant consolidation move in the European airline sector.

• Apollo's bid of £7.15 per share values easyJet at £5.7 billion ($7.65 billion), outbidding rival Castlelake's previous offer
• EasyJet had previously agreed in principle to Castlelake's sweetened offer of £6.90 per share on Sunday, just days before Apollo's higher bid
• The proposed all-cash offer is expected to deliver a 'superior outcome' for easyJet shareholders according to company statements

UAE telecoms operator E& Group announced it will sell its entire 16.21% stake in Vodafone to a company owned by French telecoms tycoon Xavier Niel's family group for $5.95 billion. The sale price is set at 112.5 pence per share, and E& will no longer have board representation or influence over Vodafone's management.

• E& is divesting its complete 16.21% holding in Vodafone at 112.5 pence per share to Niel's family-owned company
• The transaction will generate a net cash return of approximately $1.3 billion for E&
• E&'s board representative has stepped down as a non-executive director of Vodafone, ending the company's control and influence over Vodafone's board and management

Coinbase Chief Legal Officer Paul Grewal is stepping down immediately after six years, during which he successfully defended the company against an SEC lawsuit and led crypto industry advocacy in Washington. Molly Abraham will become general counsel while Ryan VanGrack takes a new role as vice chair and head of corporate affairs as Coinbase expands beyond crypto trading.

• Grewal led Coinbase through a years-long SEC lawsuit that legal experts viewed as existential for the crypto industry; the case was dismissed in 2025 under the Trump administration
• He was instrumental in Washington lobbying efforts, including work on the 'Clarity Act' legislation that would establish federal rules for cryptocurrencies
• The leadership transition comes as Coinbase pursues becoming an 'everything exchange' by expanding into stock trading, prediction markets, and AI-powered investment tools

The Dow Jones rose 139 points (0.27%) on Thursday, driven by a strong rally in semiconductor stocks despite renewed U.S.-Iran military strikes. Chip stocks led gains as Micron announced plans to invest over $250 billion through 2035 in U.S. memory chip production, while investors anticipated strong Q2 earnings growth of 24% for S&P 500 companies.

• Micron Technology gained 4.5% after unveiling a $250+ billion U.S. investment plan through 2035 to expand memory chip production for AI demand; the Philadelphia Semiconductor Index extended its recent advance
• Markets shrugged off geopolitical tensions as crude oil prices fell after President Trump said Iran had called to make a deal, despite ongoing U.S. strikes and disruptions near the Strait of Hormuz
• The Fed remains in focus as traders price in a likely 25-basis-point rate hike by December, while June meeting minutes revealed some officials considered raising rates before holding steady

New York Attorney General Letitia James sued 3M, DuPont, and other companies for creating a public nuisance by selling PFAS 'forever chemicals' in consumer products while allegedly concealing their toxic health and environmental risks for decades. The lawsuit was filed in Albany state court and also names Chemours, Corteva, and EIDP as defendants.

• The state accuses the companies of hiding the environmental and health risks of PFAS chemicals from consumers for decades, even as they began phasing out some of these substances
• Additional defendants include Chemours, Corteva, and EIDP, which were part of DuPont prior to corporate spinoffs
• PFAS are known as 'forever chemicals' due to their persistence in the environment and have been widely used in consumer products

Micron Technology announced plans to invest up to $3 billion to strengthen the U.S. semiconductor supply-chain ecosystem. The memory chip firm's investment comes as part of broader efforts to bolster domestic chip manufacturing capabilities. This commitment represents a significant expansion of U.S. semiconductor infrastructure by one of the industry's major players.

• Micron will invest up to $3 billion specifically targeting the U.S. semiconductor supply-chain ecosystem
• The announcement was made on July 9 by the memory chip manufacturer
• This investment aligns with ongoing efforts to reduce reliance on foreign chip production and strengthen domestic semiconductor capabilities

SAP, Europe's largest software maker, avoided an EU antitrust fine by agreeing to make it easier for customers to switch to rival service providers or end contracts. The European Commission had investigated concerns that SAP was hindering competition in the market for maintenance and support services of on-premise software. The company's concessions, valid globally for 10 years, give customers more freedom without unfair restrictions.

• The EU launched an investigation in September last year over concerns SAP was making it difficult for customers to switch vendors in the maintenance and support services market
• SAP's concessions include an alternative method to calculate license fees, scrapping reinstatement fees, and reducing back maintenance fees for returning customers
• The agreement is valid globally for 10 years and addresses practices that EU regulators said 'raised their costs and stifled competition'

PepsiCo reported second-quarter earnings that missed Wall Street expectations as North American consumers tightened budgets amid inflationary pressures. While revenue exceeded estimates at $24.18 billion, boosted by strong international demand, the company's U.S. food and beverage divisions underperformed. PepsiCo maintained its full-year forecast despite the mixed results.

• Earnings per share of $2.20 (excluding items) fell short of analyst estimates, while revenue of $24.18 billion beat expectations of $23.95 billion
• Net sales rose 6.4% overall, but organic revenue growth was only 2.4% as U.S. consumers cut spending due to rising inflation
• Strong international demand for snacks and drinks offset weakness in North American operations, with CEO noting 'U.S. food and beverage category performance moderated'