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India's hi-tech ambitions get a boost from Apple and U.S. tariffs

India's hi-tech ambitions get a boost from Apple and U.S. tariffs

CNN17 hours ago

Even before Trump's latest trade war, India was gunning for a greater slice, not only of the smartphone industry, but the entire supply chain, hoping to lure more international businesses away from China. Now, with Apple announcing it will build all US-bound smartphones in India, and US tariffs potentially handing it a competitive advantage, India is seeing new momentum. CNN's Clare Sebastian visits a city outside Delhi that has been transformed by India's high-tech ambitions.

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So-Young Announces Extension of Plan to Implement ADS Ratio Change
So-Young Announces Extension of Plan to Implement ADS Ratio Change

Yahoo

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  • Yahoo

So-Young Announces Extension of Plan to Implement ADS Ratio Change

BEIJING, June 20, 2025 /PRNewswire/ -- So-Young International Inc. (Nasdaq: SY) ("So-Young" or the "Company"), the leading aesthetic treatment platform in China connecting consumers with online services and offline treatments, today announced that it is amending the effective date for the previously announced plan for an ADS ratio change. The Company previously planned to change the ratio of the American depositary shares ("ADSs") to its Class A ordinary shares from thirteen (13) ADSs representing ten (10) Class A ordinary shares to one (1) ADS representing fifteen (15) Class A ordinary shares, with the change originally scheduled to take effect at the open of trading on June 30, 2025 (U.S. Eastern Time). Following further consideration, the Company has decided to take additional time to finalize preparations for the ADS ratio change. An updated timeline will be announced once it becomes available. For the Company's ADS holders, the ADS ratio change will result in an effect equivalent to a proportional reverse ADS split. There will be no change to the Company's Class A ordinary shares. ADS holders of record on the effective date will not be required to take any action in connection with the ADS ratio change. The exchange of then-held (old) ADSs for new ADS will occur automatically with the then-held ADSs being cancelled and new ADSs being issued by the depositary bank. The ADSs will continue to be traded on Nasdaq under the symbol "SY." No fractional new ADSs will be issued in connection with the change in the ADS ratio. Instead, fractional entitlements to new ADSs will be aggregated and sold by the depositary bank and the net cash proceeds from the sale of the fractional ADS entitlements (after deduction of fees, taxes and expenses) will be distributed to the applicable ADS holders by the depositary bank. As a result of the change in the ADS ratio, the ADS price is expected to increase proportionally, although the Company can give no assurance that the ADS price after the change in the ADS ratio will be equal to or greater than a proportional price based on ADS price before the change. About So-Young International Inc. So-Young International Inc. (Nasdaq: SY) ("So-Young" or the "Company") is the leading aesthetic treatment platform in China connecting consumers with online services and offline treatments. The Company provides access to aesthetic treatments through its online platform and branded aesthetic centers, offering curated treatment information, facilitating online reservations, delivering high-quality treatments, and developing, producing and distributing optoelectronic medical equipment and injectable products. With its strong brand recognition, digital reach, affordable treatments and efficient supply chain, So-Young is well-positioned to serve its audience over the long term and grow along the medical aesthetic value chain. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Statements that are not historical facts, including but not limited to statements about So-Young's beliefs and expectations, are forward-looking statements. Forward looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company's filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of the press release, and So-Young undertakes no duty to update such information, except as required under applicable law. For more information, please contact: So-Young Investor RelationsMs. Mona QiaoPhone: +86-10-8790-2012E-mail: ir@ Christensen In ChinaMs. Charlie ChiPhone: +86-10-5900-1548E-mail: In USMs. Linda BergkampPhone: +1-480-614-3004Email: View original content: SOURCE So-Young International Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Not just $Trump: Several top administration officials have put their money into crypto
Not just $Trump: Several top administration officials have put their money into crypto

Business Insider

time35 minutes ago

  • Business Insider

Not just $Trump: Several top administration officials have put their money into crypto

There's something that several top Trump administration officials have in common: They've poured thousands of dollars into cryptocurrency. While much has been made of President Donald Trump's own involvement with crypto, financial disclosures show that several of his top advisors and Cabinet officials also have substantial cryptocurrency investments. That includes Vice President JD Vance, who owns bitcoin worth between $250,000 and $500,000. Officials are generally only required to disclose the range of the value of their assets, so we don't know the exact amount. At the Bitcoin 2025 Conference in Las Vegas last month, Vance described himself as "one only people running for office who actually owned bitcoin" when he ran for Senate in Ohio in 2022. "I still own a fair amount of bitcoin today," he said. Among Cabinet officials, Health and Human Services Secretary Robert F. Kennedy Jr. may be the largest holder of Bitcoin: he reported owning between $1 million and $5 million in the cryptocurrency in his December disclosure. Others hold at least hundreds of thousands of dollars in crypto. Transportation Secretary Sean Duffy reported owning between $502,000 and $1.3 million in various cryptocurrencies, while Centers for Medicare & Medicaid Services Administrator Mehmet Oz reported holding between $500,000 and $1 million in bitcoin. Todd Blanche, a former personal defense attorney for Trump who now serves as Deputy US Attorney General, reported owning between $158,000 and $470,000 in various cryptocurrencies, primarily bitcoin. Defense Secretary Pete Hegseth also owns between $15,000 and $50,000 in bitcoin. Some Cabinet officials are invested in Bitcoin funds, which track the performance of Bitcoin without involving direct ownership. Among them is Treasury Secretary Scott Bessent, who disclosed having between $250,000 and $500,000 in such a fund. Oz and Duffy also invested in bitcoin funds in addition to their direct crypto holdings. Other top officials used to own cryptocurrencies but agreed to sell them off. That includes Director of National Intelligence Tulsi Gabbard, who reported owning between $33,000 and $145,000 in various cryptocurrencies, primarily bitcoin, which she sold off on May 13. Office of Management and Budget Director Russ Vought agreed to divest his holdings of up to $15,000 in bitcoin, while FBI Director Kash Patel agreed to sell off his investments in bitcoin ETFs, which were worth between $51,000 and $115,000. "President Trump, Vice President Vance, and senior White House staff have completed required ethics briefings and financial reporting obligations," White House Press Secretary Karoline Leavitt said in a statement for this story. "The Trump Administration is committed to transparency and accessibility for the American people." Ultimately, Trump remains the biggest cryptocurrency investor in his administration. His most recent financial disclosure shows he made more than $53 million from cryptocurrency sales last year in connection with World Liberty Financial, a crypto firm that's majority-owned by Trump and his family. Trump launched a meme-coin, $Trump, in the days before his second inauguration in January.

Trump's unpredictable Middle East moves actually follow a brilliant master plan
Trump's unpredictable Middle East moves actually follow a brilliant master plan

Fox News

time37 minutes ago

  • Fox News

Trump's unpredictable Middle East moves actually follow a brilliant master plan

President Donald Trump came back into office promising no new wars. So far, he's kept that promise. But he's also left much of Washington — and many of America's allies — confused by a series of rapid, unexpected moves across the Middle East. In just a few months, Trump has reopened backchannels with Iran, then turned around and threatened its regime with collapse. He's kept Israel at arm's length — skipping it on his regional tour — before signaling support once again. He lifted U.S. sanctions on Syria's Islamist leader, a figure long treated as untouchable in Washington. And he made headlines by hosting Pakistan's top general at the White House, even as India publicly objected. For those watching closely, it's been hard to pin down a clear doctrine. Critics see improvisation — sometimes even contradiction. But step back, and a pattern begins to emerge. It's not about ideology, democracy promotion, or traditional alliances. It's about access. Geography. Trade. More specifically, it may be about restarting a long-stalled infrastructure project meant to bypass China — and put the United States back at the center of a strategic economic corridor stretching from India to Europe. The project is called the India–Middle East–Europe Corridor, or IMEC. Most Americans have never heard of it. It was launched in 2023 at the G20 summit in New Delhi, as a joint initiative among the U.S., India, Saudi Arabia, the UAE and the European Union. Its goal? To build a modern infrastructure link connecting South Asia to Europe — without passing through Chinese territory or relying on Chinese capital. IMEC's vision is bold but simple: Indian goods would travel west via rail and ports through the Gulf, across Israel, and on to European markets. Along the way, the corridor would connect not just trade routes, but energy pipelines, digital cables, and logistics hubs. It would be the first serious alternative to China's Belt and Road Initiative — a way for the U.S. and its partners to build influence without boots on the ground. But before construction could begin, war broke out in Gaza. The October 2023 Hamas attacks and Israel's military response sent the region into crisis. Normalization talks between Saudi Arabia and Israel fell apart. The Red Sea became a warzone for shipping. And Gulf capital flows paused. The corridor — and the broader idea of using infrastructure to tie the region together — was quietly shelved. That's the backdrop for Trump's current moves. Taken individually, they seem scattered. Taken together, they align with the logic of clearing obstacles to infrastructure. Trump may not be drawing maps in the Situation Room. But his instincts — for leverage, dealmaking and unpredictability — are removing the very roadblocks that halted IMEC in the first place. His approach to Iran is a prime example. In April, backchannels were reopened on the nuclear front. In May, a Yemen truce was brokered — reducing attacks on Gulf shipping. In June, after Israeli strikes inside Iran, Trump escalated rhetorically, calling for Iran's "unconditional surrender." That combination of engagement and pressure may sound erratic. But it mirrors the approach that cleared a diplomatic path with North Korea: soften the edges, then apply public pressure. Meanwhile, Trump's temporary distancing from Israel is harder to miss. He skipped it on his regional tour and avoided aligning with Prime Minister Netanyahu's continued hard-line approach to Gaza. Instead, he praised Qatar — a U.S. military partner and quiet mediator in the Gaza talks — and signaled support for Gulf-led reconstruction plans. The message: if Israel refuses to engage in regional stabilization, it won't control the map. Trump also made the unexpected decision to lift U.S. sanctions on Syria's new leader, President Ahmad al-Sharaa — a figure with a past in Islamist groups, now leading a transitional government backed by the UAE. Critics saw the move as legitimizing extremism. But in practice, it unlocked regional financing and access to transit corridors once blocked by U.S. policy. Even the outreach to Pakistan — which angered India — fits a broader infrastructure lens. Pakistan borders Iran, influences Taliban-controlled Afghanistan, and maintains ties with Gulf militaries. Welcoming Pakistan's military chief was less about loyalty, and more about leverage. In corridor politics, geography often trumps alliances. None of this means Trump has a master plan. There's no confirmed strategy memo that links these moves to IMEC. And the region remains volatile. Iran's internal stability is far from guaranteed. The Gaza conflict could reignite. Saudi and Qatari interests don't always align. But there's a growing logic underneath the diplomacy: de-escalate just enough conflict to make capital flow again — and make corridors investable. That logic may not be ideologically pure. It certainly isn't about spreading democracy. But it reflects a real shift in U.S. foreign policy. Call it infrastructure-first geopolitics — where trade routes, ports and pipelines matter more than treaties and summits. To be clear, the United States isn't the only player thinking this way. China's Belt and Road Initiative has been advancing the same model for over a decade. Turkey, Iran and Russia are also exploring new logistics and energy corridors. But what sets IMEC apart — and what makes Trump's recent moves notable — is that it offers an opening for the U.S. to compete without large-scale military deployments or decades-long aid packages. Even the outreach to Pakistan — which angered India — fits a broader infrastructure lens. Pakistan borders Iran, influences Taliban-controlled Afghanistan, and maintains ties with Gulf militaries. For all his unpredictability, Trump has always had a sense for economic leverage. That may be what we're seeing here: less a doctrine than a direction. Less about grand visions, and more about unlocking chokepoints. There's no guarantee it will work. The region could turn on a dime. And the corridor could remain, as it is now, a partially built concept waiting on political will. But Trump's moves suggest he's trying to build the conditions for it to restart — not by talking about peace, but by making peace a condition for investment. In a region long shaped by wars over ideology and territory, that may be its own kind of strategy.

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