Market News Today — AI-Curated Stock & Crypto Headlines

The article highlights intensifying competition between traditional banks and proprietary trading firms (prop firms) on Wall Street, indicating a structural shift in financial intermediation and market-making dynamics.

KPMG issued a warning to a Guggenheim unit regarding deficiencies in internal controls, specifically related to revenue accounting in its private investment division.

A private entrepreneur in China launched an itch-scratching service chain, generating US$15,000 monthly revenue from two outlets.

A U.S.

Eli Lilly announced a $2.88 billion cash acquisition of Merida Biosciences to expand into autoimmune and allergic diseases, signaling a strategic shift beyond its core weight-loss and diabetes markets.

Trio-Tech International (TRT) reported a 122% stock rally over 6 months, driven by AI- and EV-related testing demand, follow-on orders, and expanded manufacturing capacity in Malaysia.

U.S.

Enflame Technology is preparing for a US$910.3 million IPO on the Shanghai Star Market, aiming to validate its specialized AI chip strategy against domestic competitors like Huawei.

The article title suggests Alphabet (GOOG) reported strong growth driven by AI demand and cloud revenue, but the provided content does not contain any direct evidence or details about Alphabet's performance, AI demand, or cloud revenue.

Gap announced a new handbag line priced between $29.95 and $498, designed by Reed Krakoff, who previously led Coach's design team.

Shoprite Holdings Ltd.

A couple in Hong Kong faces fraud charges for allegedly overstating revenue declines to obtain HK$330,000 in government-guaranteed loans, and their travel has been restricted pending trial.