The US shot down Iranian drones near the Strait of Hormuz as talks continued for an interim peace deal to reopen the strategic waterway, adding to uncertainty over when an agreement can be reached.
JTBC Co. Ltd., the broadcaster owned by South Korea’s media giant JoongAng Group, defaulted on securitized loans and was downgraded to junk by a local ratings firm, triggering a series of rating cuts across the conglomerate.
China’s Zhejiang Geely Holding Group will streamline its structure by shutting down or merging some entities and concentrate resources around its Hong Kong-listed arm, in a bid to improve governance, Chairman Li Shufu said.
Investment into African startups held up in 2025, even as funding conditions tightened. According to AVCA, more than $5 billion was invested in African startups last year, with deal activity also rising. Bloomberg’s Jennifer Zabasajja spoke with venture capital investor Andrew Firman from Kaleo Ventures on opportunities and challenges of investing in the continent. (Source: Bloomberg)
China’s Commerce Ministry said it firmly opposes the US decision to label additional firms as “military companies,” accusing Washington of using national security as a pretext to curb the development of Chinese firms.
It was meant to happen once humans were regularly flying to Mars. Then the AI boom took off.
The US killed the leader of the Tren De Aragua drug cartel, Niño Guerrero, in a strike that was carried out with the assistance of Venezuela, President Donald Trump said.
SpaceX had the largest stock-market debut in history when it went public on June 12. The company raised $75 billion in the initial public offering and ended its first day on the public markets with a market capitalization of around $2.2 trillion. The IPO turned SpaceX founder Elon Musk into the world’s first trillionaire.
Heather Pringle, CEO of the Space Foundation, discussed the impact of SpaceX’s historic $75 Billion IPO on the broader space industry and investment landscape. She highlighted that SpaceX’s public listing marks a significant milestone for a maturing space sector, demonstrating viable pathways to profitability through communications, launch services, and navigation technologies. she speaks with Romaine Bostick & Katie Greifeld on “The Close.” (Source: Bloomberg)
There were a lot of ways that SpaceX’s initial public offering could have gone wrong. Instead, the company bucked Wall Street norms, pulled off the biggest IPO ever and raised $75 billion.
