Tesla to Inject $8 Billion in U.S. Infrastructure and Manufacturing This Fiscal Year
Tesla Inc. $TSLA announced plans to invest approximately $8 billion in U.S.-based infrastructure and production during the current fiscal year. The update, released Friday evening on social media platform X, reinforces the company’s long-standing strategy to localize capital expenditure and deepen its industrial footprint across the United States. The electric vehicle (EV) maker stated that since its inception, it has deployed roughly $44 billion in U.S. capital investments, including $10 billion in the last fiscal year alone. The upcoming $8 billion allocation is poised to support new manufacturing lines, facility expansions, and technology upgrades.
Kroger to Close 60 Stores as Part of Strategic Restructuring Plan
Kroger Co. $KR announced on June 20 its intention to shut down 60 retail stores over the next 18 months, citing operational streamlining and a need to reallocate capital more efficiently. Although the company did not provide a list of the specific locations, the closures represent approximately 2% of its 2,731 stores across 35 U.S. states, as reported at the beginning of the fiscal year. This development marks a shift in Kroger's physical retail strategy, reflecting both changing consumer behavior and rising cost pressures across the grocery industry.
Kretto Syscon Board to Consider Bonus Issue or Dividend Amid Strategic Expansion
Kretto Syscon Ltd. $KRETTOSYS.BO has scheduled a board meeting on July 15 to evaluate corporate actions for the fiscal year 2024–25, including the possibility of a bonus share issue or a final dividend payout of up to 100%, according to a filing with the stock exchange. The decision will be contingent upon the availability of distributable reserves, and subject to requisite legal and shareholder approvals. The move signals a shift in capital allocation strategy as the company positions itself for both investor returns and operational growth.
Stablecoin Ambitions Intensify as Retail Giants Explore Blockchain Payments
The momentum behind stablecoin-based payments is gaining attention across the global commerce landscape. Reports suggest that Amazon $AMZN and Walmart $WMT are evaluating the launch of proprietary tokens, while Shopify $SHOP has begun supporting USDC $USDCUSD payments in over 30 countries. This marks a notable shift in how major retail players view blockchain-based settlement infrastructure. However, not all observers are convinced that this trend poses a disruptive threat to legacy networks like Visa $V and Mastercard $MA.
Coinbase Launches USDC-Based Payment Platform to Streamline Crypto Transactions
Coinbase $COIN has officially introduced Coinbase Payments, a three-tiered infrastructure designed to simplify the integration of USDC $USDCUSD transactions for commerce platforms. This strategic rollout positions Coinbase as a central payments enabler in the growing stablecoin economy, offering turnkey tools that bypass the need for direct blockchain deployment.
UBS Maintains Bearish Stance on Lithium Sector Amid Prolonged Market Surplus
UBS $UBS has reiterated its negative outlook for the lithium mining industry, warning that the current oversupply and weak spot price, now below $600 per tonne, are likely to persist. Despite recent cost optimizations and industry consolidation, the investment bank sees little near-term relief for producers, citing muted market signals and structural rigidity within the supply chain.
Temu Scales Back in the U.S. Amid Sales Slump and Trade Policy Shifts
Temu, the fast-growing e-commerce platform owned by PDD Holdings $PDD, is facing a sharp decline in its U.S. market performance as the company significantly cuts its digital advertising targeted at American consumers. The decision comes in response to heightened regulatory uncertainty following President Donald Trump's recent tightening of trade restrictions with China.
River Island to Close 33 UK Stores Amid Structural Shift and Mounting Operational Costs
British fashion retailer River Island has announced plans to shutter 33 stores across the UK, a move driven by declining footfall and a strategic pivot toward digital retailing. The decision could impact hundreds of jobs and reflects mounting pressure on brick-and-mortar operations within the UK retail sector.
Stellantis Orders Immediate Parking of Older DS 3 and Citroën C3 Models Due to Airbag Hazard
Stellantis N.V. $STLA has instructed UK owners of first-generation DS 3 and second-generation Citroën C3 vehicles, manufactured between 2009 and 2019, to stop driving their cars immediately. The directive follows renewed concerns over Takata airbag defects after a recent fatal incident in France.
Verve Therapeutics Soars on Eli Lilly Acquisition Driven by VERVE-102 Program
Verve Therapeutics $VERV surged by over 80% this week after entering into a definitive agreement with Eli Lilly $LLY. The deal centers on the experimental cardiovascular therapy VERVE-102, positioning Lilly to deepen its role in gene-editing innovations targeting atherosclerotic cardiovascular disease (ASCVD).
Aflac Hit by Major Cyberattack Amid Wave of Insurance Industry Breaches
Aflac Inc. $AFL has confirmed a significant cybersecurity breach, potentially compromising Social Security numbers, insurance claims, and sensitive medical data of its clients. The incident marks a serious escalation in a wave of targeted cyberattacks against U.S. insurance providers and underscores rising systemic vulnerabilities in the sector. The breach, disclosed on Friday, positions Aflac, the second-largest provider of supplemental insurance in the United States with billions in annual revenue and millions of policyholders, as the most high-profile victim in this recent string of attacks.
Circle Stock Extends Rally as GENIUS Act Gains Senate Approval
Circle $CRCL, the issuer of the USDC $USDCUSD stablecoin, continued its market rally on Friday after the U.S. Senate passed the GENIUS Act, a bill focused on regulating stablecoins. Shares jumped nearly 17% in premarket trading, adding to significant gains earlier in the week. The legislation, designed to set compliance standards for fiat-backed digital currencies, now moves to the House of Representatives. Its Senate passage has amplified investor interest in Circle, which is seen as well-positioned under the proposed regulatory framework.