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Elon Musk&#8216;s artificial intelligence startup xAI has hired Katie Miller, wife of President Donald Trump&#8216;s Deputy Chief of Staff Stephen Miller, as a communications manager just as the company secured a controversial permit for its Memphis data center operations.
What Happened: The Shelby County Health Department on Wednesday approved xAI&#8217;s application to <a href="https://www.benzinga.com/markets/tech/25/07/46257227/elon-musks-xai-secures-permit-to-burn-natural-gas-for-grok-supercomputer-in-memphis-amid-clean-air-act-lawsuit-pollution-complaints">operate 15 natural gas-burning turbines</a> at its Colossus supercomputer facility, despite months of community protests over air quality concerns. 
The permit includes emissions limits and testing requirements, with penalties reaching $10,000 per day for non-compliance.
Katie Miller, a seasoned political operative who previously worked at the Department of Government Efficiency, announced the permit approval in a rare email to reporters from her xAI corporate address, <a href="https://fortune.com/2025/07/03/katie-miller-trump-white-house-elon-musk-xai/">reported</a> Fortune. The communication marked an unusual departure for Musk&#8217;s companies, which disbanded media relations teams years ago and typically communicate only through social media.
&#8220;xAI welcomes today&#8217;s decision by the Shelby County Health Department,&#8221; Miller wrote. &#8220;Our onsite power generation will be equipped with state-of-the-art emissions control technology, making this facility the lowest emitting of its kind in the country.&#8221;
See Also: <a href="https://www.benzinga.com/news/politics/25/07/46259176/trumps-decision-to-end-tax-free-loophole-for-low-value-goods-from-china-leads-to-a-sharp-decline-in-air-cargo-shipments">Trump&#8217;s Decision To End Tax-Free Loophole For Low-Value Goods From China Leads To A Sharp Decline In Air Cargo Shipments</a>
Why It Matters: Miller&#8217;s hiring comes amid growing tensions between Trump and Musk. She departed the White House in May to work full-time for Musk&#8217;s ventures, according <a href="https://edition.cnn.com/politics/live-news/trump-presidency-news-05-28-25#cmb8dqgz400003b6siifazr80">to</a> CNN, while her husband remains with the Trump administration. The relationship between the two billionaires has deteriorated, with Musk recently threatening to fund a rival political party.
The Memphis facility powers xAI&#8217;s Grok AI model and represents Musk&#8217;s direct challenge to OpenAI&#8216;s ChatGPT and Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google Gemini. The company recently raised $10 billion in debt and equity, with discussions underway for an additional $20 billion equity round that <a href="https://www.benzinga.com/markets/tech/25/07/46187301/elon-musks-xai-secures-10-billion-in-debt-and-equity-amid-soaring-burn-rate-as-ai-arms-race-intensifies">could value xAI at over $120 billion</a>.
The Memphis supercomputer utilizes primarily NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) GPUs, with additional chips from Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>). Musk plans to <a href="https://www.benzinga.com/markets/tech/25/07/46257227/elon-musks-xai-secures-permit-to-burn-natural-gas-for-grok-supercomputer-in-memphis-amid-clean-air-act-lawsuit-pollution-complaints">deploy 1 million GPUs at the facility</a>, with acquisition costs estimated between $30 billion and $40 billion, according to analyst Gene Munster.
Read Next: 
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</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: JRdes / Shutterstock.com

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Elon Musk's xAI Hires Trump Aide Stephen Miller's Wife Katie Amid Controversial Memphis Data Center Permit Win

<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="900" height="340" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04015427/brief-finance-v3.1-5.png" alt="" class="wp-image-15337" style="width:900px;height:auto" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04015427/brief-finance-v3.1-5.png 900w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04015427/brief-finance-v3.1-5-300x113.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04015427/brief-finance-v3.1-5-768x290.png 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>
Amber International Holding Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBR#NASDAQ">AMBR</a>) <a href="https://www.prnewswire.com/news-releases/amber-international-accelerates-crypto-reserve-strategy-with-recently-announced-25-5-million-private-placement-backed-by-leading-global-investors-302497677.html">said</a> on Thursday that it will use new funds from its recently unveiled $25.5 million private placement to further enhance its $100 million "crypto ecosystem reserve," and also to expand its institutional crypto services in the growth markets of the U.S. and Southeast Asia.
Under the placement, Amber is selling 12.2 million Class A ordinary shares, equal to about 2.44 million ADSs, based on the company's ratio of 5 ordinary shares to each ADS. The subscription price is $10.45 per ADS, representing a 5% discount to the average price between June 25 and June 27 just before the original fundraising announcement.
Others participating in the placement include Mile Green, Harvest Capital, Pantera Capital, CMAG Funds, Choco Up and Kingkey Financial International (1468.HK). Mile Green, led by Thai conglomerate CP Group's Chatchaval Jiaravanon, is set to provide additional support for Amber's expansion in Southeast Asia.
Amber said it will use the new funds to support its strategic investments in cryptocurrencies with high potential such as bitcoin, ethereum and solana, as part of the development of its cryptocurrency reserve.
Amber International provides crypto financial services and solutions targeting institutional investors and high-net-worth individuals to optimize their digital asset portfolios. The Singapore-based company was listed on the Nasdaq in March this year.&nbsp;
By Teri Yu

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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Opinion

AMBR

Amber International Raises $25.5M To Enhance $100M Crypto Ecosystem Reserve

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="900" height="600" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04031741/IPO-0704-900x600-1.png" alt="" class="wp-image-15343" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04031741/IPO-0704-900x600-1.png 900w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04031741/IPO-0704-900x600-1-300x200.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04031741/IPO-0704-900x600-1-768x512.png 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>
Hong Kong listings by 44 companies raised $13.6 billion in the first six months of 2025, accounting for a quarter of the world's total IPO fundraising
<h4 class="wp-block-heading">Key Takeaways:</h4>
<ul class="wp-block-list">
<li>Hong Kong led the world in IPOs in the first half of the year with $13.6 billion in new fundraising, as New York IPOs by Chinese companies raised just $841 million</li>
<li>Hong Kong has taken steps to lure Chinese companies to the city, as they avoid New York over U.S.-China frictions and face difficulties listing in Shanghai and Shenzhen</li>
</ul>
Hong Kong became the world's leading IPO market in the first half of 2025, accounting for a quarter of global fundraising from new listings, as money-hungry Chinese firms raced to list in the city after a quiet period over the previous three years. Second listings in Hong Kong by Shanghai- and Shenzhen-listed Chinese firms were a major factor behind Hong Kong's boom, as such companies sought to raise both cash and their global profiles.
At the same time, many Chinese firms that might have previously chosen to list in New York largely abandoned that route this year amid heightened geopolitical tensions between the U.S. and China. Only one Chinese company made a major new U.S. listing in the first half of 2025, as milk tea chain&nbsp;Chagee&nbsp;(CHA.US) raised more than $400 million in its April IPO. And even that was offset by announcement of a privatization bid for electric vehicle (EV) maker&nbsp;Zeekr&nbsp;(ZK.US), which raised a similar $441 million with a New York listing just a year ago.
If those trends continue, which looks likely, 2025 would mark the best year for Hong Kong IPOs since 2021, and would be the second-highest year for IPO fundraising year in the last decade.
Forty-four IPOs by companies in Hong Kong raised a combined HK$107.1 billion ($13.6 billion) in the first half of the year, equal to seven times the amount raised in the first half of 2024, PwC said in&nbsp;<a href="https://www.pwchk.com/en/press-room/press-releases/pr-020725.html#:~:text=In%20the%20first%20half%20of%202025%2C%20Hong%20Kong%20raised%20HKD,total%20in%20the%20past%20decade.">a report</a>&nbsp;this week. In a&nbsp;<a href="https://www.ey.com/en_cn/newsroom/2025/06/a-h-listings-support-hk-reclaiming-the-top-spot">similar report</a>&nbsp;issued in June, Ernst &amp; Young said that Hong Kong IPOs accounted for 24% of all fundraising from new listings worldwide in the first half of the year.
Both reports said the momentum in Hong Kong was likely to continue into the second half of the year, with PwC forecasting companies would raise more than $200 billion with new listings on the Hong Kong Stock Exchange for all 2025.
While Hong Kong boomed, E&amp;Y observed that fundraising by Chinese companies through U.S. IPOs tumbled by 62% to $841 million, even as the number of new listings rose by 44% to 36. That showed that mega-IPOs from China, typically worth $100 million or more, are increasingly rare in the U.S., and most deals still going to New York are pint-sized offerings worth $20 million or less.
Reflecting the growing preference for Hong Kong, which dates back over the last two years, China's securities regulator approved 30 new listings by Chinese companies seeking to list on the Hong Kong Stock Exchange in the first half of the year. That was more than double the 12 companies approved to list on the Nasdaq by the China Securities Regulatory Commission (CSRC), which must approve all such new overseas listings.
The CSRC's pipeline of pending overseas listing applications looks similar in terms of the preference for Hong Kong. Of the 183 applications currently under consideration by the regulator, 126 are from companies hoping to list in Hong Kong, while just 42 are seeking to list on the Nasdaq. And none of the pending Nasdaq applicants has hired a top-tier investment bank, indicating most or all will likely raise $20 million or less.
<h4 class="wp-block-heading">All about policy</h4>
Several factors are behind the Hong Kong boom, nearly all of them policy-related. The biggest factor driving Chinese companies from the U.S. is increasingly tense relations between Beijing and Washington, with some American politicians even suggesting that all Chinese companies should be delisted from U.S. stock exchanges.
China is playing a role as well due to its concerns that large amounts of personal and customer data held by Chinese companies could become accessible to the U.S. government if those companies list in New York. Such concerns led to the forced delisting of leading ride-sharing company&nbsp;DiDi Global&nbsp;from the New York Stock Exchange in 2021.
Similar concerns were also likely a factor in the uncertain fate of a pending blockbuster listing by online fast fashion sensation&nbsp;Shein. The company originally aimed to list in New York, but abandoned that plan after running into political headwinds from Washington. Shein later shifted its sights to a London IPO. But it abandoned that plan last month, reportedly over objections from the CSRC, which would like the company to list in Hong Kong.
China has also fueled the rush of companies to Hong Kong by limiting the number of new listings on its domestic A-share markets in Shanghai and Shenzhen, in a bid to support those markets. Reflecting the weaker sentiment among domestic investors, the Shanghai Composite Index is up just 6% this year, well behind a 23% rise for Hong Kong's benchmark Hang Seng Index.
Hong Kong has seized on U.S. and Chinese political frictions, as well as China's data security concerns and limits on new IPOs in Shanghai and Shenzhen, by taking steps to make its stock market more attractive to new Chinese listing candidates. The Hong Kong Stock Exchange launched a Technology Enterprises Channel in May, making it easier for early-stage specialist tech and biotech companies to list. And last October it published another new policy making it easier for Chinese companies with A-share listings in Shanghai or Shenzhen to make second IPOs in Hong Kong, which is more open to international investors.
The largest Hong Kong IPO in the first half of the year came from one such second listing, as EV battery giant&nbsp;Contemporary Amperex Technology Co. Ltd.&nbsp;(3750.HK; 300750.SZ), or CATL, raised about $4.6 billion through a Hong Kong IPO to complement its older listing in Shenzhen.
While Chagee stood out from its peers by listing in the U.S., the first half of 2025 was also notable for IPOs by several of the company's larger rivals in Hong Kong, led by the $440 million IPO by leading premium tea chain&nbsp;Mixue&nbsp;(2097.HK).
Gold listings were also popular in the first half of the year as prices for the precious metal soared to record highs. That helped&nbsp;Jilong Gold&nbsp;(6693.HK) to raise $419 million in its February IPO. The same gold fever could also spark another mega listing in the second half, following&nbsp;Zijin Mining's&nbsp;(2899.HK)&nbsp;<a href="https://thebambooworks.com/brief-zijin-mining-files-to-separately-list-international-gold-unit/">filing&nbsp;</a>of a preliminary prospectus this week as it gets set to spin off and separately list its&nbsp;Zijin Gold International&nbsp;unit.

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Hong Kong IPOs Explode In H1-25 As China Inc. Abandons New York

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="900" height="600" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04020431/Cheng-tech-900x600-1.png" alt="" class="wp-image-15340" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04020431/Cheng-tech-900x600-1.png 900w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04020431/Cheng-tech-900x600-1-300x200.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/07/04020431/Cheng-tech-900x600-1-768x512.png 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>
The automotive sensor maker is seeking IPO funds to boost its capacity, as intelligent driving systems move from luxury cars to mainstream models
<h4 class="wp-block-heading">Key takeaways:</h4>
<ul class="wp-block-list">
<li>The company focuses on millimeter-wave radar, which is cheaper than laser-based LIDAR sensors but less precise</li>
<li>It relies heavily on custom from car giant BYD, which generated 94% of company revenues last year</li>
</ul>
Laser, cameras or radar? Smart driving technology is dividing into competing camps as it percolates down from luxury vehicles to budget cars.
Suppliers of high-end automotive LiDAR, which uses laser pulses as a positioning tool, are struggling to make a profit as driver assistance enters the mass car market. Meanwhile, a firm providing base-level driving technology to auto giant&nbsp;BYD&nbsp;(1211.HK; 002594.SZ) is taking a different route.
Shenzhen Cheng-Tech Co. Ltd., founded on the back of expertise built at Huawei,specializes in a type of short-wave radar as a cost-effective way to help drivers with tasks such as staying in lane or judging distances.
While LIDAR companies such as&nbsp;Hesai Technology&nbsp;(HSAI.US)and&nbsp;RoboSense Technology&nbsp;(2498.HK) target elevated levels of intelligent driving at L3 to L4 on the industry's five-point scale, Cheng-Tech is content to focus on the lower rungs of L0 to L2+ with its millimeter-wave radar, a simpler technology with a potentially broader market base.
Doubling down on its strategy, the company has&nbsp;<a href="https://www1.hkexnews.hk/app/sehk/2025/107468/documents/sehk25062300152.pdf">filed&nbsp;</a>for Hong Kong IPO under relaxed listing rules for specialist tech companies, hoping to raise money to boost its research and production capacity, with Guotai Junan International as the sole sponsor.
Cheng-Tech's short-wavelength systems have the benefit of being cheap to run, resistant to disruption and able to operate around the clock. The downsides are reduced resolution and precision, thus limiting their use for advanced assistance scenarios without support from additional sensors. But millimeter-wave radar comes at a fraction of the cost of LiDAR and does not require sophisticated technical input, making it an attractive option for deployment in mass-market vehicles.
Founded in 2016, the company specializes in millimeter-wave radar at a frequency of 77GHz for products such as front and corner radars or centralized radar processing systems. By June this year Cheng-Tech had launched seven key radar products covering L0 to L2+ levels of driver assistance.
The company ranked as the biggest domestic Chinese supplier of frontal millimeter-wave vehicle radar last year with 945,000 shipped units, giving it 9.3% of the market, according to data from China Insights Consultancy (CIC). In the automative millimeter-wave radar business as a whole, it came third by shipment volume, with a market share of 4.5%.
<h4 class="wp-block-heading">Huawei legacy</h4>
Chairman Chen Chengwen and co-founder Zhou Ke both cut their teeth at&nbsp; Huawei. Chen served as a senior product manager while Zhou held key technical positions at the Chinese tech firm, where the pair developed expertise in engineering and embedded algorithms that was applied to signal processing and hardware integration in the new company.
Revenues have been rising fast but the radar company has yet to break even on a net basis. Cheng-Tech logged revenues of 57.65 million yuan ($8.05 million) in 2022, followed by 157 million yuan in 2023 and 348 million yuan last year. Losses over the three-year period reached 197 million yuan, although in 2024 the loss narrowed 77% to 21.77 billion yuan, for an operating profit of 15.07 million yuan. Gross profit margin rose from 28.7% in 2022 to 33.9% in 2024, reflecting improved cost control and pricing power.
However, the company is facing a financial squeeze, with only 15.87 million yuan in cash and cash equivalents by the end of last year. Any urgent need to expand production or upgrade technology could require more financing in future.
<h4 class="wp-block-heading">Big dependence on BYD</h4>
The company has benefited from close ties with BYD, China's biggest maker of electric vehicles, but the dependence also represents a risk. Since becoming a designated sensor supplier in 2022, Cheng-Tech has deployed its radar in more than 20 BYD models. In 2024, it earned 326 million yuan from BYD, accounting for 93.6% of its total operating revenue.
In February BYD announced an equality drive to make assisted driving more widely available, under a slogan "intelligent driving for all". Since then, it has been equipping models retailing for less than 100,000 yuan with advanced driver-assistance functions, incorporating Cheng-Tech's 4D millimeter-wave radar as a key component. However, any shift in BYD's procurement strategy or a pivot to other suppliers would be a hammer blow to the company.
Moreover, millimeter-wave radar has a lower technological barrier to entry than LIDAR, leaving Cheng-Tech exposed to competition. Another company active in the same radar segment is Wuhu Sensortech Intelligent Technology, a subsidiary of&nbsp;Hikvision&nbsp;(002415.SZ). The rival firm, with stonger finances and superior production capacity compared to Cheng-Tech, is also a BYD supplier, offering corner, front and surround radars within its product mix.
Established companies such as HASCO Automotive and Suzhou Everbright Photonics are also stepping up their investment in this area, threatening to erode Cheng-Tech's tech advantage and cloud its growth prospects in the medium to long term.
The company finished its Series C financing in May last year with a post-financing valuation of 1.32 billion yuan, far less than Hesai Technology's 14.5 billion yuan and RoboSense Technology's 7 billion yuan. However, RoboSense's share price has tumbled nearly 30% since its IPO, while U.S.-listed Hesai Technology has shed 17% of its market value. Catering to the middle and lower end of the market, Cheng-Tech has a potentially wider range of customers but is hampered by limited pricing power. The road from here may be bumpy, but if it can tap new clients and export markets, Cheng-Tech could stay in the driving seat in an accelerating mass market for automotive intelligence. Still, as far as investors are concerned, the firm does not really deserve high-tech status and should probably be viewed as one of many auto industry suppliers out there.

Travel

BYD Supplier Cheng-Tech Bets On Budget Option For Assisted Driving

Multinational bank BNP Paribas has said that Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rivals Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) and Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) could benefit from U.S. President Donald Trump's <a href="https://www.benzinga.com/markets/tech/25/07/46257394/trumps-big-bautiful-bill-passes-ev-tax-breaks-to-end-on-september-30-what-it-means-for-electric-vehicles">Big Beautiful Bill</a>.
What Happened: "Similarly to RIVN, we do believe LCID stands to benefit from reduced EV competition as OEMs deemphasize US EV ambitions," a BNP analyst cited by Bloomberg said <a href="https://www.bloomberg.com/news/articles/2025-07-03/rivian-lucid-to-benefit-from-trump-tax-bill-bnp-paribas-says">on</a> Thursday.
The report said that while U.S. automakers like General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) have ramped up EV production, analysts from the bank predict that Trump's tax bill could slow down the activities of the legacy automakers.
This could benefit new-age companies like Rivian and Lucid with more market share available for the brands. BNP also expects Rivian to gain from the backlash surrounding Tesla CEO Elon Musk.
The analysts also shared that third-quarter deliveries could rise as consumers would want to avail benefits of the $7,500 tax credit before it ends on September 30.
Why It Matters: The news comes as Rivian shared its <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46224223/rivians-production-dips-for-next-gen-models-volkswagen-infusion-boosts-outlook">Q2 delivery figures</a>, which outlined the EV maker recording over 10,661 units in the quarter and producing over 5,979 units from April to June.
Lucid shares, meanwhile, surged as the company shared <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46248543/lucid-stock-is-climbing-higher-thursday-whats-going-on">its Q2 statistics</a>. The company's production increased from 2,212 units in the first quarter to 3,863 units in Q2. Deliveries saw a slight increase to 3,309 units.
Meanwhile, Tesla also reported a strong rebound for its Q2 deliveries as the company delivered over <a href="https://www.benzinga.com/markets/tech/25/07/46239998/dan-ives-hails-teslas-better-than-expected-q2-deliveries-says-fireworks-come-early-for-elon-musk-led-ev-giant">384,211 vehicles in Q2</a>, largely driven by the Model 3 and the Model Y.
Check out more of Benzinga's Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
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<li><a href="https://www.benzinga.com/markets/tech/25/07/46258669/tesla-made-2-76-billion-from-zev-credits-in-2024-in-us-but-trumps-tax-bill-just-killed-this-revenue-stream">Tesla Made $2.76 Billion From ZEV Credits In 2024 In US But Trump&#8217;s Tax Bill Just Killed This Revenue Stream</a></li>
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Photo courtesy: Michael Berlfein via Shutterstock

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Trump's Tax Bill Could Be A Boost For Tesla-Rivals Rivian, Lucid Amid EV Slowdown, Says BNP Paribas

The decision by the U.S. to terminate a tax-free exemption for low-value goods from China has led to a drop in air cargo shipments from Asia to North America.
What Happened: The International Air Transport Association (IATA) reported a 10.7% decrease in air cargo demand from Asia to North America in May compared to the same period last year. According to a Reuters report, this decline is attributed to the U.S. decision to end the tax-free exemption for low-value packages from China in early May.
See Also: <a href="https://benzinga.com/news/topics/25/07/46253645/trump-lectures-japan-about-rice-but-u-s-tariffs-make-sugar-and-peanuts-140-more-expensive-for-america">Trump Lectures Japan About Rice But U.S. Tariffs Make Sugar And Peanuts 140% More Expensive For Americans, Says Peter Schiff</a>
Shipments valued under $800, commonly sent by air to U.S. customers of low-cost e-commerce platforms such as Shein and PDD&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) Temu, were previously exempt from taxes. However, since May 2, these shipments from China and Hong Kong have been subjected to taxes, initially as high as 145%, before settling to as low as 30% after a mid-May trade deal between the U.S. and China.
Why It Matters: This development comes on the heels of a series of trade policy changes by the U.S. government. In May, President Donald Trump significantly reduced tariffs on Chinese imports as the United States entered a <a href="https://www.benzinga.com/government/regulations/25/05/45368852/trump-lowers-de-minimis-tariff-on-chinese-imports-from-120-to-54-pauses-200-postal-fee-amid-90-day-trade-shift">90-day period</a> of trade negotiations with China. 
However, the US&#8217;s decision to end the tax-free loophole for low-value goods from China comes at a time of heightened trade tensions between the two countries.
Trump recently announced a <a href="https://www.benzinga.com/news/politics/25/07/46241070/trumps-vietnam-trade-deal-with-40-tax-on-transshipments-may-result-in-chinese-backlash-say-economists-they-want-inflation">trade deal with Vietnam</a>, imposing a 20% tariff on Vietnamese exports to the US and a 40% tariff on goods transshipped through Vietnam, particularly targeting Chinese products rerouted to avoid US tariffs. This move has been met with criticism, with economist <a href="https://www.benzinga.com/news/politics/25/07/46239985/peter-schiff-warns-americans-will-suffer-and-vietnamese-will-enjoy-after-trumps-trade-deal-with-hanoi">Peter Schiff warning</a> that American consumers are likely to bear the brunt of the agreement.
Amid ongoing <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46163141/trump-says-hell-skip-trade-deals-set-global-tariffs-with-a-letter-pay-a-25-tariff-or-20-or-40-or-50">trade negotiations</a> between the U.S. and China, the recent trade policy shifts by the U.S. are expected to have an impact on global trade dynamics and the performance of key industries.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Politics

Citigourp Global Markets 2% Protected Notes Linked To The Djia

Trump's Decision To End Tax-Free Loophole For Low-Value Goods From China Leads To A Sharp Decline In Air Cargo Shipments

Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>) has launched a limited-time summer promotion offering its Premium streaming plan — which includes Showtime, live sports and offline access — for just $0.99 per month for two months.
What Happened: In celebration of the July 4th weekend and ahead of the July 17 premiere of "Star Trek: Strange New Worlds" Season 3, Paramount Plus is offering new subscribers access to either the Premium (normally $12.99/month) or Essential (normally $7.99/month) plan for only $0.99 per month during the two-month trial.
The Premium tier offers the best value at the same promotional price. It bundles Showtime content, live CBS News, 2025 NFL season games, UEFA Champions League matches and an extensive film and TV library that includes "Dexter," "The Chi," "Billions," "Twin Peaks" and upcoming titles like "Gladiator 2" and "Sonic the Hedgehog 3."
See Also: <a href="https://www.benzinga.com/analyst-ratings/price-target/25/02/44019592/paramount-global-eyes-profitability-analysts-assess-subscriber-surge-and-cost-savings">Paramount Global Eyes Profitability, Analysts Assess Subscriber Surge And Cost Savings</a>
Unlike the ad-supported Essential plan, Premium is ad-free for on-demand content and allows mobile downloads for offline viewing.
After the promotion, the subscription renews at the standard $12.99/month rate unless canceled.
Why It's Important: This aggressive pricing move comes amid intensified competition in the streaming space as platforms battle for viewership and subscriber growth.
Earlier this week, Paramount Global also agreed to <a href="https://www.benzinga.com/news/legal/25/07/46212970/trump-wins-16-million-settlement-from-paramount-over-cbs-60-minutes-kamala-harris-interview-but-no-apology-issued">pay $16 million to settle</a> a lawsuit brought by Donald Trump over a "60 Minutes" interview with former Vice President Kamala Harris, but admitted no wrongdoing or issued any apology.
Trump's lawsuit claimed CBS deceptively edited the Harris interview to show contradictory answers about the Israel-Hamas war, allegedly favoring Democrats.
Price Action: Paramount's Class A shares fell 1.08% to $22.84, while its Class B shares edged up 0.47% to $12.90, based on <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>.
According to Benzinga's Edge Stock Rankings, Paramount maintains a consistent upward trajectory across the short, medium and long term. However, despite this positive momentum, its quality ranking is still comparatively low. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">More detailed performance insights are available here</a>.
<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04043332/Screenshot-2025-07-04-at-2.00.09%E2%80%AFPM.png" alt="" class="wp-image-973015" /></a></figure>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: viewimage / Shutterstock.com

Entertainment

News

PARA

PARAA

Paramount Plus Slashes Prices To $0.99 Per Month For Premium Plan: Get Showtime, NFL Games, Offline Access For Less Than $2

Veteran investors Gary Black, managing director of Future Fund LLC and Gerber Kawasaki's Co-Founder Ross Gerber have weighed on Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/news/topics/25/07/46252465/cybertruck-dreams-shatter-as-musks-250k-goal-unravels">Cybertruck's poor sales</a>.
What Happened: Both investors took to social media platform X on Thursday to express their views on the matter. Gerber, who owns a Cybertruck himself, shared his disappointment with the sales figures.
"Would probably help values if they discontinue the Tesla Cybertruck. Then my truck becomes a collectors item," he said in his post. Gerber added that it was "a very sad result" for the Cybertruck.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Would probably help values if they discontinue the Tesla Cybertruck. Then my truck becomes a collectors item… but this is a very sad result for the cybertruck. <a href="https://t.co/xe3aDam6fI">https://t.co/xe3aDam6fI</a>
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1940675011230289976?ref_src=twsrc%5Etfw">July 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Black, on the other hand, offered his insights into the poor sales, reiterating that the Cybertruck's design held it back. "It's probably time for Tesla to consider launching a smaller more traditional-looking pickup truck priced in the $50K range," the investor said.
He added that the global TAM (total addressable market) for pickup trucks is an 8-million unit sector since it represents "10% of the overall global passenger vehicles market."
"If Tesla captured even a 1% share that would be 80K trucks per year (~$800M profit/year)," he said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Assuming <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> Cybertruck deliveries were 5,000 in the quarter (vs M-Y 250K, M-3 120K, per <a href="https://twitter.com/TroyTeslike?ref_src=twsrc%5Etfw">@troyteslike</a>), it's probably time for <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> to consider launching a smaller more traditional-looking pickup truck priced in the $50K range. Pickups still represent 10% of the overall global… <a href="https://t.co/ytpi05IyRJ">https://t.co/ytpi05IyRJ</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1940850532815347799?ref_src=twsrc%5Etfw">July 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Tesla's Q2 deliveries, while <a href="https://www.benzinga.com/markets/tech/25/07/46239998/dan-ives-hails-teslas-better-than-expected-q2-deliveries-says-fireworks-come-early-for-elon-musk-led-ev-giant">exceeding market expectations</a>, were still largely driven by the sales of the Tesla Model 3 and the Tesla Model Y, representing over 373k units of the 384k deliveries during Q2 2025.
While sales have been <a href="https://www.benzinga.com/markets/tech/25/07/46189042/elon-musk-led-teslas-european-woes-worsen-with-sales-down-over-60-in-sweden-and-denmark">on the decline</a>, CEO Elon Musk has <a href="https://www.benzinga.com/markets/tech/25/07/46214467/elon-musk-will-oversee-tesla-sales-in-the-us-europe-after-omead-afshars-exit-report">assumed oversight</a> of the company's sales in Europe and the U.S. following <a href="https://www.benzinga.com/markets/tech/25/06/46132042/teslas-q2-sales-going-to-s-says-gary-black-after-tsla-north-america-and-europe-chief-omead-afshars-exit">Omead Afshar's departure</a> from the company.
However, despite the overall decline, Tesla has managed a rebound in June in markets like the UK, where sales <a href="https://www.benzinga.com/markets/tech/25/07/46257617/elon-musk-led-tesla-sales-surge-12-in-the-uk-during-june-q2-deliveries-beat-analyst-estimates">experienced a 12% YoY increase</a>. Tesla's China sales also <a href="https://www.benzinga.com/markets/tech/25/07/46239731/elon-musks-tesla-sales-surge-3-7-in-china-as-other-markets-cool">climbed 3.7% </a>during June.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="201" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04042841/TSLA-JUL-4-2025-1-1-1024x201.jpg" alt="" class="wp-image-973011" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04042841/TSLA-JUL-4-2025-1-1-1024x201.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04042841/TSLA-JUL-4-2025-1-1-300x59.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04042841/TSLA-JUL-4-2025-1-1-768x151.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04042841/TSLA-JUL-4-2025-1-1-1536x301.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04042841/TSLA-JUL-4-2025-1-1.jpg 1560w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Tesla offers satisfactory Momentum while scoring well on the Growth and Quality metrics, but the stock offers poor Value. For more such insights, sign up for <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a> today!
Check out more of Benzinga&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
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Photo courtesy: Tada Images / Shutterstock.com

Ross Gerber, Gary Black Weigh In On Tesla Cybertruck's Poor Sales: 'A Very Sad Result'

President Donald Trump&#8216;s $3.3 trillion domestic agenda bill, passed by House Republicans on Thursday, includes a significant but little-noticed victory for pharmaceutical companies that will cost taxpayers nearly $5 billion over the next decade.
What Happened: The legislation expands exemptions from Medicare&#8217;s drug price negotiation program, allowing manufacturers to keep prices higher for medications treating multiple rare diseases, The New York Times <a href="https://www.nytimes.com/2025/07/03/health/trump-bill-medicare-drug-prices.html">reported</a>. The Congressional Budget Office estimates this change will reduce government savings by $5 billion through 2034.
&#8220;This is essentially giving $5 billion back to the pharmaceutical industry,&#8221; said Benjamin Rome, a health policy researcher at Brigham and Women&#8217;s Hospital in Boston, according to the report. &#8220;It&#8217;s done in a way that is designed, on its face, to solve the problem of some misaligned incentives, but I don&#8217;t think it solves those problems.&#8221;
Under current law, costly drugs are exempt from Medicare price negotiations if they treat a single rare disease affecting fewer than 200,000 Americans. Drugmakers complained this policy discouraged them from seeking approval for additional rare disease treatments.
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Why It Matters: This marks the most significant change to the Medicare negotiation program since Democrats created it in 2022, according to the report. 
The exemptions will apply to the third negotiation round affecting prices starting in 2028. Several drugs currently facing price cuts would have been spared under the new rules, including Imbruvica and Pomalyst for rare cancers.
The bill passed largely along party lines as part of Trump&#8217;s <a href="https://www.benzinga.com/news/politics/25/07/46255065/trumps-3-3-trillion-bill-passes-will-vulnerable-americans-pay-the-price">broader legislative package that includes tax cuts</a>, defense spending increases, and significant reductions to federal safety net programs. Democrats criticized the measure as favoring wealthy interests while burdening vulnerable Americans.
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Trump's 'Big, Beautiful Bill' Hands $5 Billion Win To Big Pharma: Report

Billionaire investor and founder of Bridgewater Associates, Ray Dalio, has sounded the alarm on the U.S. fiscal trajectory following the <a href="https://www.benzinga.com/news/politics/25/07/46255065/trumps-3-3-trillion-bill-passes-will-vulnerable-americans-pay-the-price">passage</a> of the &#8216;One Big, Beautiful Bill Act.&#8217;
What Happened: In a post on X, Dalio projected that the new budget, with annual spending of $7 trillion against $5 trillion in revenue, will balloon the national debt to a staggering $425,000 per American family over the next decade.
Currently at $230,000 per family, this represents a debt-to-GDP ratio climbing from 100% to 130%, with interest payments expected to surge from $1 trillion to $2 trillion annually.
According to Dalio, this &#8220;will lead to either a big squeezing out (and cutting off) of spending and/or unimaginable tax increases, or a lot of printing and devaluing of money and pushing interest rates to unattractively low levels.&#8221;
In the three possibilities mentioned by Dalio, one hinted at the economic theory of Ricardian equivalence at play, suggesting that rational individuals would anticipate that a debt-financed tax cut would lead to future tax increases to pay off the debt.
He explains that this printing and devaluing is not good for those holding bonds as a store of wealth.
Adding, &#8220;What's bad for bonds and U.S. credit markets is bad for everyone because the U.S. Treasury market is the backbone of all capital markets, which are the backbones of our economic and social conditions.&#8221;
Dalio warns that without corrective action—reducing the deficit from 7% to 3% of GDP through spending cuts, tax hikes, or interest rate adjustments—severe economic disruptions loom.
&#8220;Unless this path is soon rectified to bring the budget deficit from roughly 7% of GDP to about 3% by making adjustments to spending, taxes, and interest rates, big, painful disruptions will likely occur,&#8221; Dalio warns.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Now that the budget bill has passed Congress, we can see what the projections look like for deficits, government debt, and debt service expenses. In brief, the bill is expected to lead to spending of about $7 trillion a year with inflows of about $5 trillion a year, so the debt,…
&mdash; Ray Dalio (@RayDalio) <a href="https://twitter.com/RayDalio/status/1940842227409748385?ref_src=twsrc%5Etfw">July 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/equities/25/07/46216283/dan-ives-urges-apple-to-make-a-move-saying-that-perplexity-acquisition-is-a-no-brainer-its-a-matter-of-when-and-not-if">Dan Ives Urges Apple &#8216;To Make A Move,&#8217; Saying That Perplexity Acquisition Is &#8216;A No-Brainer&#8217;: &#8216;It&#8217;s A Matter Of When And Not If&#8217;</a>
Why It Matters: Adding to Dalio&#8217;s post, economist Peter Schiff said that &#8220;The bill will add much more than that to the national debt. The economy will grow more slowly, tax collections will be lower, and spending and interest rates will be higher than what is built into the rosy assumptions.&#8221;
Meanwhile, Peter Brandt, the CEO of Factor LLC, quoted Dalio&#8217;s post and said, &#8220;America is heading down the tubes. Perhaps what will be reconstructed after the national bankruptcy will be kinder to Z and M generations.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">America is heading down the tubes. Perhaps what will be reconstucted after the national bankruptcy will be kinder to Z and M generations. <a href="https://t.co/sdIOIxxkPQ">https://t.co/sdIOIxxkPQ</a>
&mdash; Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1940928691640660061?ref_src=twsrc%5Etfw">July 4, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Price Action: On the truncated trading day of July 3rd, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, scaled fresh records and ended higher. The SPY was up 0.79% at $625.34, while the QQQ advanced 0.98% to $556.22, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Economics

Ray Dalio Warns US Debt Per Family Will Rise 85% To $425,000 Over Next 10 Years As House Passes Trump's 'Big Beautiful Bill'

<h3>Companies Reporting Before The Bell</h3>
<h3>Companies Reporting After The Bell</h3>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Earnings Scheduled For July 4, 2025

President Donald Trump is set to sign the <a href="https://www.benzinga.com/markets/tech/25/07/46257394/trumps-big-bautiful-bill-passes-ev-tax-breaks-to-end-on-september-30-what-it-means-for-electric-vehicles">Big, Beautiful Bill</a> into law on July 4. The bill effectively eliminates a crucial revenue stream for Elon Musk&#8216;s EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), ZEV (Zero Emission Vehicle) credits.
Trump's tax bill passed the U.S. House of Representatives on Thursday, eliminating the <a href="https://www.benzinga.com/markets/tech/25/06/45965638/amid-trumps-anti-ev-push-senate-republicans-propose-tax-bill-to-axe-7500-ev-credit">$7,500 Federal EV credit</a> on new purchases as well as a $4,000 credit on used EVs. The bill also axes hefty fines on the CAFE or Corporate Average Fuel Economy Norms.
CAFE and ZEV credits
CAFE norms dictate fuel economy for vehicles, regulating how far our vehicles must travel on a gallon of fuel. This is where Tesla comes in as the company exclusively sells all-electric vehicles. This helps the company generate vast amounts of regulatory credits known as ZEV credits or Zero Emission Vehicle credits that automakers earn for not generating emissions, by manufacturing either EVs or Hydrogen fuel cells.
Tesla can sell the credits to other auto manufacturers that have exceeded CAFE norms, which helps them offset the fuel economy standards and avoid paying hefty fines to the U.S. government. The EV giant generated upwards of $2.76 billion in revenue through the credits in 2024, according to <a href="https://carboncredits.com/teslas-carbon-credit-revenue-soars-to-2-76-billion-amid-profit-drop/">a</a> Carbon Credits report.
Revoking EPA Waivers
However, there is another aspect to it in the form of waivers for the Environmental Protection Agency, which helped enforce emissions norms. Influencer Sawyer Merritt shared a post on social media platform X, detailing the impact of the bill on EVs on Thursday.
"Congress recently used the Congressional Review Act to revoke EPA waivers that allowed California (and the 17+ states that follow its lead) to enforce stricter emissions rules, including ZEV mandates," he shared in the post.
The waivers served as crucial elements of the state-level ZEV credit rules, he suggests. Without these in place, "states can no longer require automakers to meet ZEV sales targets or buy ZEV credits," which effectively renders the sales of ZEV credits to be non-essential for companies in the U.S., Merritt says.
However, Tesla can still use ZEV credits as a revenue stream outside of the U.S.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I just spent hours reviewing the final version of Trump's "Big Beautiful Bill," which he will sign into law in the coming days. There&#39;s a lot of important stuff related to EVs, renewable energy, and more. Here&#39;s everything you need to know: • $7,500 EV credit for new vehicles:… <a href="https://t.co/CG49KzsQJQ">pic.twitter.com/CG49KzsQJQ</a>
&mdash; Sawyer Merritt (@SawyerMerritt) <a href="https://twitter.com/SawyerMerritt/status/1940924349994668365?ref_src=twsrc%5Etfw">July 4, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
A Silver lining?
Tesla sales have been down in recent times, with the company experiencing <a href="https://www.benzinga.com/markets/tech/25/07/46189042/elon-musk-led-teslas-european-woes-worsen-with-sales-down-over-60-in-sweden-and-denmark">double-digit declines</a> in markets like Sweden and Denmark, adding to the company's sales woes.
However, with Q2 deliveries <a href="https://www.benzinga.com/markets/tech/25/07/46239998/dan-ives-hails-teslas-better-than-expected-q2-deliveries-says-fireworks-come-early-for-elon-musk-led-ev-giant">exceeding market expectations</a> and <a href="https://www.benzinga.com/markets/tech/25/07/46239731/elon-musks-tesla-sales-surge-3-7-in-china-as-other-markets-cool">sales in China</a> and <a href="https://www.benzinga.com/markets/tech/25/07/46257617/elon-musk-led-tesla-sales-surge-12-in-the-uk-during-june-q2-deliveries-beat-analyst-estimates">the UK rising</a>, there could be a silver lining for the company, even more so now, with <a href="https://www.benzinga.com/markets/tech/25/07/46214467/elon-musk-will-oversee-tesla-sales-in-the-us-europe-after-omead-afshars-exit-report">Musk assuming oversight</a> of sales in the U.S. and Europe.
Tesla has also confirmed that it will <a href="https://www.benzinga.com/markets/tech/25/07/46212911/amid-declining-sales-elon-musks-tesla-confirms-new-affordable-models-will-be-introduced-this-year">introduce affordable models</a> in its lineup, though it remains unclear whether the models will be brand new or if they will be stripped-down versions of existing Tesla vehicles. These factors could help the company stabilize revenue streams in the absence of ZEV credits.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="201" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04024930/TSLA-JUL-4-2025-1-1024x201.jpg" alt="" class="wp-image-972934" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04024930/TSLA-JUL-4-2025-1-1024x201.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04024930/TSLA-JUL-4-2025-1-300x59.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04024930/TSLA-JUL-4-2025-1-768x151.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04024930/TSLA-JUL-4-2025-1-1536x301.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04024930/TSLA-JUL-4-2025-1.jpg 1560w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Tesla offers satisfactory Momentum, while scoring well on the Growth and Quality metrics, but the stock offers poor Value. For more such insights, sign up for <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a> today!
Check out more of Benzinga's Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
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Photo courtesy: Shutterstock

Tesla Made $2.76 Billion From ZEV Credits In 2024 In US But Trump's Tax Bill Just Killed This Revenue Stream

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is rolling out a new feature with iOS 26 that aims to curb spam by automatically filtering and silencing unwanted texts in its Messages app.
What Happened: As part of the iOS 26 update, Apple is getting an enhanced spam screening tool within its Messages app, <a href="https://9to5mac.com/2025/07/03/ios-26s-messages-app-has-a-solution-coming-for-unwanted-texts/">reported</a> 9to5Mac.
Once enabled, the feature filters suspected spam and messages from unknown senders into dedicated folders, keeping them out of the user's main inbox and disabling notifications for those texts.
When users first install iOS 26, Messages will prompt them to activate the screening feature. If enabled, all suspected spam will be automatically rerouted into a separate &#8220;Spam&#8221; section, while unknown senders—those not in the user's contacts—will be moved to an &#8220;Unknown Senders&#8221; tab.
See Also: <a href="https://www.benzinga.com/markets/tech/25/07/46210955/apple-sues-ex-engineer-over-alleged-theft-of-vision-pro-secrets-as-snap-prepares-ar-glasses-launch">Apple Sues Ex-Engineer Over Alleged Theft Of Vision Pro Secrets As Snap Prepares AR Glasses Launch</a>
Both sections can be accessed through a new filtering option at the top-right of the Messages app, the report said.
The upgrade also includes visual cues on the filters button, alerting users when a new message has been screened, allowing them to review it manually if needed.
Other updates to Messages in iOS 26 include conversation backgrounds, group typing indicators, polls and live translation.
Why It's Important: Apple's <a href="https://www.benzinga.com/markets/tech/25/06/45852236/steve-jobs-would-have-fired-everyone-apples-liquid-glass-in-ios-26-gets-roasted-online-dan-ives-calls-wwdc-2025-a-yawner">bold new design</a> for iOS 26 — called "Liquid Glass" — is also facing a wave of online criticism. Liquid Glass introduces a translucent, reactive interface designed to make the iPhone feel more fluid and immersive.
The design now spans buttons, sliders, the lock screen, Control Center and more.
Apple released iOS 26 Beta 2, <a href="https://www.benzinga.com/markets/tech/25/06/46066274/apple-liquid-glass-gets-tweaks-in-ios-26-beta-2-after-early-testers-slam-readability-issues-heres-what-else-has-changed">tweaking its new</a> Liquid Glass interface after early testers criticized poor readability. The update improves background blur in Control Center to make buttons and sliders clearer and notifications now appear sharper, though some issues remain on light backgrounds.
Benzinga's Edge Stock Rankings show that Apple's stock maintains an upward trend in the short term, but the outlook turns negative over the medium and long term. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">More detailed performance insights can be found here</a>.
<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04033044/Screenshot-2025-07-04-at-12.58.48%E2%80%AFPM.png" alt="" class="wp-image-972971" /></a></figure>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: jamesteohart / Shutterstock.com

AAPL

Apple's iOS 26 Will Silence Spam Texts Automatically With New Messages Update That Filters Unknown Senders Into Hidden Folders

Cognition Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGTX#NASDAQ">CGTX</a>) rose 12.10% to $0.45 during after hours on Thursday, following a surge of 20.82% gain during regular hours.&nbsp;
What Happened: The hike in Cognition Therapeutics&#8217; stock price is attributed to the promising results from its Alzheimer&#8217;s drug, Zervimesine. The drug achieved a 95% efficacy rate in its Phase 2 trial. The trial also reached a 50% enrollment milestone, further boosting investor confidence in the drug&#8217;s potential. 
See Also: <a href="https://benzinga.com/crypto/cryptocurrency/25/07/46257197/bitcoin-ethereum-dogecoin-surge-amid-trumps-one-big-beautiful-bill-victory-analyst-says-btc-on-cusp-of-making-history-as-it-eyes-key-weekly-re">Bitcoin, Ethereum, Dogecoin Surge Amid Trump&#8217;s &#8216;One Big, Beautiful Bill&#8217; Victory — Analyst Says BTC On &#8216;Cusp Of Making History&#8217; As It Eyes Key Weekly Resistance &#8211; Grayscale Bitcoin Mini Trust (BTC)</a>
Why It Matters: The Alzheimer&#8217;s drug market has been a hotbed of activity recently. InMed Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INM#NASDAQ">INM</a>), for instance, experienced a sudden surge in its stock price after releasing <a href="https://www.benzinga.com/news/health-care/25/06/46073349/why-inmeds-alzheimers-drug-candidate-is-fueling-sudden-stock-surge">new preclinical data</a> demonstrating the potential of its therapeutic candidate for Alzheimer&#8217;s disease.
Price in Action: According to <a href="https://www.benzinga.com/quote/CGTX">Benzinga Pro</a> data, Cognition Therapeutics' stock rose 20.82% to $0.41 during regular trading, followed by an additional 12.10% gain to $0.45 in after-hours trading.
Benzinga's Edge Stock Rankings indicates Cognition Therapeutics has momentum in the 3rd percentile. For the complete picture on the stock, <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">click here</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="867" height="174" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04030815/Screenshot-2025-07-04-123755.png" alt="" class="wp-image-972951" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04030815/Screenshot-2025-07-04-123755.png 867w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04030815/Screenshot-2025-07-04-123755-300x60.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04030815/Screenshot-2025-07-04-123755-768x154.png 768w" sizes="(max-width: 867px) 100vw, 867px" /></a></figure>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Martin Gregor on Shutterstock.com

Biotech

Equities

Health Care

Market-Moving Exclusives

CGTX

Cognition Therapeutics Shares Jump 12% After Hours Following Encouraging Phase 2 Alzheimer's Trial Data

The Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) has secured a $2.8 billion contract from the U.S. Space Force to develop and produce strategic satellite communications systems.
What Happened: The contract covers Boeing&#8217;s Evolved Strategic Satellite Communications (ESS) program, which will deliver two satellites with options for two additional units. 
The ESS program serves as the space-based component of the U.S. nuclear command, control, and communications (NC3) architecture, providing critical connectivity for presidential communications and joint strategic forces worldwide.
&#8220;It&#8217;s a critical time to advance U.S. space capabilities to ensure peace through strength,&#8221; said Cordell DeLaPena, U.S. Space Force Program Executive Officer for the Military Communications and Positioning, Navigation, and Timing Directorate. &#8220;The strategic communication mission requires protection, power and always-available capability, even through adversary attempts to interrupt our connectivity.&#8221;
The ESS satellites will operate in geostationary orbit approximately 22,000 miles above Earth, offering enhanced capacity, flexibility, reliability and resilience compared to current strategic communications satellites. Boeing has been executing technical maturation and risk reduction work under a rapid prototyping contract since 2020.
&#8220;We designed an innovative system to provide guaranteed communication to address an evolving threat environment in space,&#8221; said Kay Sears, Vice President and General Manager of Boeing Space, Intelligence and Weapon Systems.
See Also: <a href="https://www.benzinga.com/news/25/07/46256825/nvidia-crowdstrike-wolfspeed-cadence-design-systems-and-microsoft-why-these-5-stocks-are-on-investors-radars-today">Nvidia, Crowdstrike, Wolfspeed, Cadence Design Systems And Microsoft: Why These 5 Stocks Are On Investors&#8217; Radars Today</a>
Why It Matters: The spacecraft will utilize highly protected waveforms and classified technologies developed in partnership with the U.S. Department of Defense. Boeing is scheduled to deliver the first of two space vehicles by 2031.
This contract win comes as Boeing&#8217;s stock has gained over 16.82% in the past year, with shares trading at $215.92 as of Thursday.
The company recently completed delivery of its ninth and tenth O3b mPOWER satellites, continuing its partnership with network operator SES to <a href="https://www.benzinga.com/markets/large-cap/25/07/46224681/whats-going-on-with-boeing-stock-today">enhance space-based internet access</a>.
However, Boeing faces ongoing safety scrutiny following a Japan Airlines flight emergency landing Monday after a Boeing 737-800 experienced a pressurization system failure, forcing a <a href="https://www.benzinga.com/markets/equities/25/07/46214283/boeing-737s-violent-26000-foot-plunge-left-passengers-legs-shaking-as-japan-airlines-flight-makes-emergency-landing-191-survive-midair-pressure">rapid descent from 32,800 feet</a>. All 191 passengers and crew survived without injuries.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: JHVEPhoto / Shutterstock.com

Boeing Wins $2.8 Billion US Space Force Contract To Build Nuclear-Resilient Satellites For Strategic Communications

Experts have been debating the artificial intelligence-driven impact on employment with contradicting views. While market veteran like Jim Cramer thinks that &#8220;AI is still not trusted,&#8221; others see trouble brewing in the labor market due to the automation of several human-led jobs.
What Happened: Citing the labor differential and unemployment rate data, Ark Invest&#8217;s Cathie Wood said in her &#8220;<a href="https://www.ark-invest.com/videos/market-commentary/july-2025-in-the-know-cathie-wood">In The Know</a>&#8221; series, &#8220;Labor differential says that it&#8217;s getting harder to find jobs,&#8221; while adding that &#8220;rising unemployment claims suggest that people who are out of work are finding it difficult to get a job.&#8221;
While she blames immigration for this, Wood also states that &#8220;we do know that AI is hurting entry-level jobs.&#8221;
Highlighting a personal example from the ARK 2025 Vibe Coding Hackathon, she said that her firm used AI to address 13 pain points within the organization.
&#8220;Because of (AI&#8217;s) natural language programming, SaaS is going to run into some trouble here, now that we can do a lot ourselves and customize to our own organization&#8217;s needs,&#8221; she explains.
On the other hand, CNBC&#8217;s Mad Money host Cramer took to X and underscored that traditional white collar firms haven&#8217;t seen AI-related job cuts.
&#8220;They are still hiring, still paying a lot. AI is still not trusted at the highest rungs of major companies,&#8221; he said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">CEOs have been saying that AI will wipe out jobs at their companies. But it hasn&#39;t happened at most traditional white collar firms. They are still hiring, still paying a lot. AI is still not trusted at the highest rungs of major companies
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1940680480380408248?ref_src=twsrc%5Etfw">July 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Meanwhile, taking a strong stand on this, economist Craig Shapiro warned that <a href="https://www.benzinga.com/markets/economic-data/25/06/46093421/ai-will-disrupt-25-of-us-jobs-by-2030-and-the-fed-cant-save-them-economist-warns">AI could wipe 25% of jobs in the U.S.</a> by 2030, and the Federal Reserve&#8217;s traditional tool of interest rate cuts is ill-equipped to address the looming labor crisis.
See Also: <a href="https://www.benzinga.com/markets/equities/25/07/46188237/bill-gates-is-betting-two-thirds-of-his-foundations-portfolio-in-these-3-stocks">Bill Gates Is Betting Two-Thirds Of His Foundation&#8217;s Portfolio In These 3 Stocks</a>
Why It Matters: Shapiro cites a Goldman Sachs study and explains that tech giants like Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) are investing billions in AI, which will potentially automate 25% of the U.S. labor market by 2030.
Furthermore, he says, "AI-driven labor displacement, accelerating in 2025, poses a structural crisis that Federal Reserve rate cuts cannot fix.&#8221;
Shapiro also outlines Federal Reserve Vice Chair Michael Barr&#8216;s 2025 warning: AI could increase the natural unemployment rate due to skill mismatches. A <a href="https://hbr.org/2015/08/research-technology-is-only-making-social-skills-more-important">Harvard study</a> supported this, estimating 47% of U.S. jobs are at risk. 
Price Action: Here are a few AI-linked exchange-traded funds that investors can consider amid the booming artificial intelligence demand.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>ETF Name</td>
<td>YTD Performance</td>
<td>One-Year Performance</td>
</tr>
<tr>
<td>iShares US Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYW#NYSE">IYW</a>)</td>
<td>10.00%</td>
<td>12.38%</td>
</tr>
<tr>
<td>Fidelity MSCI Information Technology Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTEC#NYSE">FTEC</a>)</td>
<td>8.40%</td>
<td>13.19%</td>
</tr>
<tr>
<td>First Trust Dow Jones Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>)</td>
<td>10.40%</td>
<td>27.93%</td>
</tr>
<tr>
<td>iShares Expanded Tech Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGM#NYSE">IGM</a>)</td>
<td>10.94%</td>
<td>16.23%</td>
</tr>
<tr>
<td>iShares Global Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IXN#NYSE">IXN</a>)</td>
<td>10.44%</td>
<td>8.71%</td>
</tr>
<tr>
<td>Defiance Quantum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QTUM#NASDAQ">QTUM</a>)</td>
<td>13.52%</td>
<td>45.81%</td>
</tr>
</tbody>
</table>
</figure>
Price Action: On the truncated trading day of July 3rd, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, scaled fresh records and ended higher. The SPY was up 0.79% at $625.34, while the QQQ advanced 0.98% to $556.22, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
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Photo courtesy: Shutterstock

AMZN

First Trust Dow Jones Internet Index Fund

FTEC

iShares Trust S&P Global Information Technology Sector Index Fund

iShares Dow Jones US Technology Sector Index Fund

MSFT

QTUM

Jim Cramer Contradicts AI-Led Job Cuts At White Collar Firms As Cathie Wood Says It's 'Hurting Entry-Level Jobs:' Here's How Experts Debunk AI's Impact On Employment

La Rosa Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRHC#NASDAQ">LRHC</a>) stocks experienced a significant drop of 23.47% during after-hours trading on Thursday The drop follows the  surge of 87.37%, which was the result  of the company&#8217;s announcement of its first-half revenue for 2025
What Happened: &nbsp;The real estate company&#8217;s stock closed at $0.15 on July 3. However, it fell to $0.11 during after-hours trading. This represents a 23.47% decrease in value.
See Also: <a href="https://benzinga.com/markets/equities/25/07/46187311/trump-says-elon-musk-would-close-up-shop-and-head-back-home-to-south-africa-without-subsidies-no">Trump Says Elon Musk Would &#8216;Close Up Shop And Head Back Home To South Africa&#8217; Without Subsidies: &#8216;No More Rocket Launches, Satellites, Or Electric Car&#8217;</a>
La Rosa Holdings, a real estate company, <a href="https://www.benzinga.com/markets/earnings/25/07/46242298/exclusive-la-rosa-clocks-38-4-million-in-first-half-revenue-tops-3000-agents">reported a revenue of $38.4 million</a> for the first half of 2025, representing a 19.4% year-over-year growth. This announcement led to an 87% surge in the company&#8217;s stock, which closed at $0.15 on Thursday.
Why It Matters: La Rosa Holdings&#8217; strategic decisions, such as the approval of a <a href="https://www.benzinga.com/news/buybacks/25/04/44977376/exclusive-la-rosa-board-approves-500-thousand-stock-buyback-plan">$500 thousand stock buyback</a> plan in April, have also contributed to its positive market performance.&nbsp;
In July, the company&#8217;s shares soared after it reported a preliminary unaudited revenue of $38.4 million for the <a href="https://www.benzinga.com/wiim/25/07/46242719/la-rosa-holdings-shares-are-trading-higher-after-the-company-reported-preliminary-unaudited-revenue">first half of 2025</a>. This was a milestone for the company, which had also seen a 19.4% year-over-year growth.
Price in Action: According to <a href="https://www.benzinga.com/quote/LRHC">Benzinga Pro</a> data, closing at $0.15, La Rosa's stock surged 87.27% following strong revenue news. The dip of $0.11 in after-hours trading, reflects continued volatility.
Benzinga&#8217;s Edge Stock Rankings indicate strong value potential (40.29) of La Rosa's stock. Here is <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">how the stock fares</a> on other parameters.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="758" height="98" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04015455/Screenshot-2025-07-04-at-14.54.42.png" alt="" class="wp-image-972881" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04015455/Screenshot-2025-07-04-at-14.54.42.png 758w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04015455/Screenshot-2025-07-04-at-14.54.42-300x39.png 300w" sizes="(max-width: 758px) 100vw, 758px" /></a></figure>
Photo Courtesy: Who is Danny on Shutterstock.com
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</ul>

LRHC

La Rosa Holdings (LRHC) Stock Dips 23% In After Hours, Shares Shed Intraday Gains Fueled By H1 2025 Revenue Numbers

Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BABAF#OTC">BABAF</a>) announced the pricing of HK$12.023 billion ($1.5 billion) in zero-coupon exchangeable bonds due 2032, marking the Chinese e-commerce giant&#8217;s latest move to fuel its artificial intelligence and cloud expansion strategy.
What Happened: The bonds, priced on Thursday, are exchangeable for shares of Alibaba Health Information Technology Limited (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ALBBY#OTC">ALBBY</a>), a consolidated subsidiary where Alibaba holds approximately 64% equity interest. The offering is expected to close July 9, subject to customary closing conditions.
Bondholders can exchange their securities at an initial ratio of approximately 160,513.6 Alibaba Health shares per HK$1 million principal amount, equivalent to an initial exchange price of HK$6.23 per share. This represents a 48% premium over the HK$4.21 per share price in the concurrent delta placement.
If fully exchanged, the bonds would represent up to 12% of Alibaba Health&#8217;s issued share capital as of May 31. The exchange price is subject to customary adjustments and anti-dilution provisions.
Alibaba expects net proceeds of approximately HK$11.9 billion ($1.55 billion) after deducting underwriter commissions and estimated expenses. The company plans to use proceeds for general corporate purposes, including investments in cloud infrastructure and international commerce businesses.
See Also: <a href="https://www.benzinga.com/markets/equities/25/07/46257412/is-the-market-open-on-july-4th-everything-you-need-to-know">Is the Market Open On July 4th? Everything You Need To Know</a>
Why It Matters: The bond offering comes as Alibaba shares have surged 28% year-to-date, <a href="https://www.benzinga.com/markets/tech/25/07/46250853/alibabas-ai-and-cloud-moves-have-sparked-28-stock-rebound">significantly outperforming the NYSE Composite&#8217;s 8% gain</a>. The rally has been driven by accelerating growth in the company&#8217;s Cloud Intelligence Group, particularly AI-related products, and strategic investments in artificial intelligence.
In June, Alibaba released updated Qwen3 <a href="https://www.benzinga.com/markets/tech/25/07/46250853/alibabas-ai-and-cloud-moves-have-sparked-28-stock-rebound">AI models and partnered with</a> Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) to deploy machine-learning features on devices in China. The company is aggressively expanding its global cloud presence with new data centers in Malaysia, South Korea, and the Philippines.
The bonds will be listed on the Vienna MTF operated by the Vienna Stock Exchange within 60 days after closing. Bondholders may require redemption on July 9, 2030, or following certain corporate events, with redemption at 100% of the principal amount.
Price Action: As of Friday at 1:13 p.m. local time, Alibaba Group Holding Ltd traded at HK$105.60 (~$13.45) on the Hong Kong Exchange, down 0.56%.
On the NYSE, Alibaba ADR closed Thursday at $108.70, down 1.82%, with after-hours trading slipping to $108.63.
BABA scores well on momentum and growth based on Benzinga&#8217;s Stock Edge Ranking. While the stock shows a negative short- and medium-term price trend, its long-term trend remains positive. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here for a full stock breakdown</a> and to compare it with rival stocks.
<figure class="wp-block-image aligncenter size-full is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="890" height="640" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04013153/image-49.png" alt="" class="wp-image-972858" style="width:451px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04013153/image-49.png 890w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04013153/image-49-300x216.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04013153/image-49-768x552.png 768w" sizes="(max-width: 890px) 100vw, 890px" /></a></figure>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Robert Way / Shutterstock.com

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Actor George Takei, famous for his role in the &#8216;Star Trek&#8217; franchise, says the Trump administration's push to deport undocumented immigrants echoes the World War II mass incarceration of Japanese Americans.
What Happened: The Star Trek star, who survived Japanese American internment, <a href="https://edition.cnn.com/audio/podcasts/the-assignment/episodes/9140d9e2-4b94-11ef-ba2a-9bdbc6863578">told</a> CNN's Audie Cornish that Donald Trump's immigration agenda echoes Franklin D. Roosevelt's wartime roundup of people with Japanese ancestry.
&#8220;But politicians lie, and people believe that lie because there&#8217;s hysteria rampant at that time,&#8221; he said. &#8220;And in our time today, right now, people got swept up by a lie and elected him. And now people have regrets. People must speak out.&#8221;
Takei reminded listeners that Roosevelt signed Executive Order 9066 on Feb. 19, 1942, <a href="https://apnews.com/article/fact-check-executive-order-9066-migrants-gift-cards-076876930650">allowing</a> the government to confine about 120,000 Japanese Americans behind barbed wire. Guards with rifles watched over families crammed into sparsely insulated barracks, many of them U.S. citizens.
See also: <a href="https://www.benzinga.com/news/topics/25/07/46253645/trump-lectures-japan-about-rice-but-u-s-tariffs-make-sugar-and-peanuts-140-more-expensive-for-americans-says-peter-schiff">Trump Lectures Japan About Rice But U.S. Tariffs Make Sugar And Peanuts 140% More Expensive For Americans, Says Peter Schiff</a>
&#8220;Even great presidents can get swept up in the hysteria of the times because, to Roosevelt, the West Coast of the United States was just like Pearl Harbor,&#8221; Takei said. &#8220;It was open. Unprotected and vulnerable. And here were these people that looked exactly like the people that bombed Pearl Harbor. And so, he panicked out of ignorance.&#8221;
Cornish noted that polls in the 1940s favored internment, just as many voters now support mass deportations.
Why It Matters: Trump proposes <a href="https://www.benzinga.com/news/politics/25/06/46110499/trumps-big-beautiful-bill-to-inject-150-billion-into-immigration-enforcement-over-the-next-four-years-report">slashing $150 billion</a> from other federal programs and redirecting the money to his immigration agenda over the next four years. Immigration and Customs Enforcement already teeters on a budget cliff, and officials warn the agency <a href="https://www.benzinga.com/news/politics/25/06/45967200/ice-could-run-out-of-money-in-weeks-trumps-immigration-push-now-threatens-to-break-the-budget-report">could exhaust its funds</a> within weeks. Lawmakers from both parties fear Trump will siphon money from other agencies to keep ICE operating, although his new spending package could ease that pressure. 
Trump highlighted his hard-line approach last week by telling New York City Democratic mayoral nominee Zohran Mamdani that he would <a href="https://www.benzinga.com/news/politics/25/07/46213003/zohran-mamdani-hits-back-at-trumps-arrest-threats-over-potentially-blocking-new-york-ice-raids-will-not-accept-this-intimidation">arrest and deport him</a> if he tried to block federal immigration raids.
Photo Courtesy: Lev Radin on Shutterstock.com
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Trump Administration's ICE Raids Compared With WWII Japanese Internment Camps By George Takei: 'Politicians Lie, And People Believe That Lie'

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) sales in the UK surged over 12% year-on-year in June as Elon Musk's EV giant's Q2 delivery figures fared better than initially predicted by experts.
What Happened: Tesla sold 7,891 units in the UK during June, compared to June 2024&#8217;s 7,019 units, data from NewAutomotive obtained by Reuters showcased on Friday.
The data also suggests that UK EV sales grew by 45.5%, with a 12.8% growth in total car sales in the region. The market as a whole registered 187,655 units in June. 
Tesla's Chinese rival, BYD Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>), also gained in sales, selling 2,498 units in June. Tesla's total sales in the UK are still down 2%, the data shows.
Why It Matters: The news comes in as Tesla delivered over 384,000 vehicles in Q2, which analysts like Wedbush Securities' Dan Ives hailed as a moment where the <a href="https://www.benzinga.com/markets/tech/25/07/46239998/dan-ives-hails-teslas-better-than-expected-q2-deliveries-says-fireworks-come-early-for-elon-musk-led-ev-giant">&#8220;fireworks&#8221; came early</a> for the company.
Gary Black, managing director of Future Fund LLC, pinned the deliveries on Tesla experiencing <a href="https://www.benzinga.com/markets/tech/25/07/46239731/elon-musks-tesla-sales-surge-3-7-in-china-as-other-markets-cool">strong growth in China</a> during June. "2Q was better than expected, led by refreshed Model Y deliveries and strong quarter-end China deliveries," the investor said as the <a href="https://www.benzinga.com/markets/tech/25/07/46238590/tsla-stock-surges-5-as-q2-deliveries-better-than-feared-gary-black-explains-why-elon-musk-led-tesla-fared-better-than-markets-worst-fears">company stock surged 5%</a>.
The news also comes in as <a href="https://www.benzinga.com/markets/tech/25/07/46214467/elon-musk-will-oversee-tesla-sales-in-the-us-europe-after-omead-afshars-exit-report">Musk will assume oversight</a> of Tesla sales in regions like Europe and the U.S. after close aide Omead Afshar's exit from the company earlier.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="201" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04011650/TSLA-JUL-4-2025-1024x201.jpg" alt="" class="wp-image-972845" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04011650/TSLA-JUL-4-2025-1024x201.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04011650/TSLA-JUL-4-2025-300x59.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04011650/TSLA-JUL-4-2025-768x151.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04011650/TSLA-JUL-4-2025-1536x301.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/04011650/TSLA-JUL-4-2025.jpg 1560w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Tesla offers satisfactory Momentum, while scoring well on the Growth and Quality metrics, but the stock offers poor Value. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge Stock Rankings</a> today!
Check out more of Benzinga&#8217;s Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
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Photo courtesy: VTT Studio / Shutterstock.com

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Elon Musk-Led Tesla Sales Surge 12% In The UK During June: Q2 Deliveries Beat Analyst Estimates

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