Tesla’s Shanghai factory deliveries drop 15%
Tesla's market share in China has been pressured as local automakers offer more affordable.
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Trump renegotiates Biden-era chip grants, US commerce chief says
The Chips and Science Act, signed in 2022, allocated US$52.7 billion to boost US semiconductor production.
Circle’s IPO raises $1.1b in upsized stablecoin deal
The IPO values Circle at US$6.9 billion, with a fully diluted valuation near US$8.1 billion.
Japan’s SMBC Nikko invests in Hashed Ventures’ blockchain fund
Hashed Ventures operates in cities like Seoul, San Francisco, and Singapore, focusing on decentralized projects.
Apple loses bid to delay app store policy changes
Apple said it was disappointed by the decision, while Epic Games CEO Tim Sweeney praised it on social media.
Xiaohongshu valued at $26b, boosting GSR’s portfolio
Founded in 2013, Xiaohongshu earns revenue through ads and ecommerce, and a potential IPO may be on the horizon.
Shein faces EU complaint over use of ‘dark patterns’
The report details tactics such as pop-ups that warn users against leaving the app.
OpenAI hits 3 million paying business users for ChatGPT
A key update is the beta release of “connectors,” which let users integrate Dropbox, Box, SharePoint, OneDrive, Google Drive.
Trump tariffs could cut deficit by $2.8t, US Budget Office says
The tariffs are expected to raise the average annual inflation rate by 0.4 percentage points in 2025 and 2026.
Hackers breach Salesforce data at 20 companies in US, Europe
The attackers used social engineering tactics, impersonating IT support to gain access to sensitive data.
Nvidia director plans to sell $550m stake, begins with $150m
Mark Stevens, the largest individual Nvidia shareholder after CEO Jensen Huang, owns about 0.2% of the company
Swiss healthtech startup Aeon raises $9m seed funding
The funding will enable Aeon to expand its operations in Switzerland, Germany, and the UK.
Swedish fintech firm Klarna to use humans for VIP customer support
He revealed Klarna cut its workforce from 5,500 to 3,000 due to AI agents reducing support costs.
Ray Dalio continues as informal advisor to Indonesia’s Danantara
Ray Dalio's advisory role at Danantara is voluntary and unpaid, focusing on Indonesia's development.
Uber Eats, DoorDash settle New York lawsuit over fee cap
The lawsuit, filed in 2021, opposed the city's 15% fee limit that was implemented during the Covid-19 pandemic.
Citigroup to cut 3,500 tech jobs in China
The reductions are expected to be completed by the start of the fourth quarter this year.
GrabCab to hit Singapore roads in July with 40 hybrid taxis
GrabCab will start with a fleet of 40 cars and offers a US$770 bonus for safe driving.
US keeps Vietnam tariffs over Chinese imports
In 2024, Vietnam exported US$136.6 billion to the US, while American exports totaled only US$13.1 billion.
Reddit sues Anthropic over unpaid use of training data
Reddit alleges Anthropic scraped its data over 100,000 times, even after claiming to stop in 2024.
Glow global, think local: K-beauty’s reality check in India
The global fad is pale in India when meeting local needs, and yielding to startups that better understand the Indian customer.