Fintech firm Chime valued at $25 billion after $750 million funding

(Reuters) – Chime Financial said on Friday it had raised $750 million in its latest funding round led by Sequoia Capital Global Equities, valuing the financial services startup at $25 billion ahead of a potential stock market listing in the United States.

Man shot in Ruby Hill Park dies, homicide investigation ongoing

A man who was shot in Ruby Hill Park in Denver on Sunday night has died and a homicide investigation is ongoing.

Police responded at 11:25 p.m. to the park, 1200 W. Florida Ave., and found the victim, who was taken to a local hospital where he died. No arrest has been made as of Friday afternoon.

Anyone with information on the shooting, or on a suspect, is asked to call Metro Denver Crime Stoppers at 720-913-7867 (STOP).

U.S. Reports 116K New COVID Cases

About 116,545 new cases were reported in the United States on Thursday, August 12, taking total cases to 36.34 million, according to data compiled by Johns Hopkins University.

Around 614 new deaths were reported, taking the total number of deaths to 619,250.

The 7-day average in the country is about 125,894 cases a day, about 102,342 more than a month ago. The Delta variant continues to wreak havoc as number of cases and death continue to climb in the country. Daily caseloads have increased tenfold since late June, while the number of death have doubled. Number of coronavirus patients being hospitalized have also increased significantly.

Meanwhile, the pace of vaccination has increased slowly in recent weeks as more corporate companies, firms and institutions have announced vaccine requirements. As of August 12, more than 167.4 million people have been fully vaccinated, i.e. 51% of the US population, according to the Centers for Disease Control and Prevention. Around 59.2% of all Americans have received at least one dose of vaccine.

The federal officials have also recommended indoor masking regardless of vaccination status.

Meanwhile, with the efficacy of vaccines demonstrated, the FDA on Thursday authorized an additional third dose to be administered to people with compromised immune systems.

U.S. trade agency finds Google infringed five Sonos patents

Aug 13 (Reuters) – A judge at a U.S. trade agency on Friday found that Google audio players infringed five patents belonging to Sonos Inc.

Charles Bullock, the chief administrative law judge of the U.S. International Trade Commission, said the sale and importing of the infringing audio players violated a federal tariff law.

Google, part of Alphabet Inc, did not immediately respond to a request for comment. Sonos shares rose 6.2% in after-hours trading.

China Pharma Holdings Inc. Q2 Earnings Summary

Below are the earnings highlights for China Pharma Holdings Inc. (CPHI):

-Earnings: -$0.82 million in Q2 vs. $0.1 million in the same period last year.
-EPS: -$0.02 in Q2 vs. $0.00 in the same period last year.
-Revenue: $2.42 million in Q2 vs. $3.77 million in the same period last year.

Merck initiates rolling submission to Health Canada for oral COVID-19 drug

(Reuters) – U.S. drugmaker Merck & Co Inc has initiated a rolling submission to Health Canada for Molnupiravir, an oral antiviral therapy treatment for COVID-19, it said in a statement on Friday.

Molnupiravir is being developed by Merck and Ridgeback Biotherapeutics for the treatment of non-hospitalized COVID-19 patients.

Future Coupons seeks stay on seizure of assets

It moves Supreme Court against High Court order.

Future Coupons Private Ltd. has moved the Supreme Court to stay an order passed by the Delhi High Court to attach the assets of Future Coupons, Future Retail and Future Group promoter Kishore Biyani.

A Single Judge of the Delhi High Court had ordered the attachment of assets in March. It had directed the Future group firms and promoters to file their affidavits giving details of their assets for violating an Emergency Arbitrator award.

On August 6, the Supreme Court had ruled in favour of e-commerce giant Amazon against the proposed ₹24,713-crore merger deal between Future Retail Ltd. (FRL) and Reliance Retail.

A Bench of Justices Rohinton F. Nariman and B.R. Gavai had upheld the validity and enforceability of a Singapore-based Emergency Arbitrator (EA) award, which had restrained FRL, India’s second-largest offline retailer, from going ahead with the disputed transaction.

The EA, in an award in October last year, had injuncted FRL “from taking any steps to complete the disputed transaction with entities that are part of the MDA Group”

The judgment authored by Justice Nariman had dismissed FRL’s argument that the “Emergency Arbitrator is not an arbitral tribunal” under the Arbitration and Conciliation Act of 1996.

Student shooter 'opens fire and kills a classmate at Albuquerque middle school'

At least one student was left dead after another student allegedly opened fire at Washington Middle School in Albuquerque, New Mexico.

A young man was seen apprehended by Albuquerque cops in handcuffs outside the school on Friday.

The suspect’s identity and age were not immediately known.

Breaking story, check back for updates…

China Inflation Slows Slightly In July

China’s consumer price inflation slowed marginally in July, while factory gate inflation accelerated on commodity prices, data published by the National Bureau of Statistics showed on Monday.

Consumer prices grew 1 percent year-on-year in July, slightly slower than the 1.1 percent rise seen in June. The annual rate was expected to ease to 0.8 percent.

On a monthly basis, consumer prices gained 0.3 percent, in contrast to the 0.4 percent drop in the previous month. Prices were forecast to rise 0.2 percent.

Core inflation that excludes food and energy prices, rose to 1.3 percent from 0.9 percent a month ago.

Food prices were down 3.7 percent as pork prices plunged 43.5 percent. Meanwhile, non-food prices grew 2.1 percent.

Another report from the NBS showed that factory gate inflation accelerated in July after moderating in June.

The producer price index climbed 9 percent annually versus the 8.8 percent rise in June. Economists had forecast the index to rise again by 8.8 percent.

Higher prices of crude oil prices, thermal coal and related products raised producer prices, Dong Lijuan, an official with NBS, said.