•Strategy's MSTR shares hit a 52-week low, down over 80% from their peak, while its STRC preferred shares traded at $74, a 26% discount to the $100 par value.
•Strategy's paper losses exceeded $14 billion after Bitcoin fell to $58,000; the company holds 847,363 Bitcoin at an average purchase price of $75,680.
•MSTR's mNAV ratio fell below 1.0, meaning the market values the shares at a discount to the Bitcoin on the balance sheet.
•Volkswagen plans to accelerate job cuts to up to 100,000 by 2030, from a previous target of 50,000, and reduce German production capacity by 500,000 vehicles.
•China's onshore technology IPOs are on track to be the strongest since 2023, led by AI and chip firms as Beijing pushes for tech self-reliance amid US rivalry.
•The European Commission opened an investigation into French drugmaker Sanofi's flu vaccine marketing campaign for suspected breach of EU competition rules.
•Apple stock had its worst session in more than a year as management made its first official move to pass higher memory costs onto consumers via price hikes on Mac and iPad.
•The US Supreme Court ruled in favor of Bayer, providing legal cover against approximately 200,000 Roundup cancer lawsuits.
•John Durnell, who used Roundup for 20 years and developed cancer, had won a $1.25M verdict, but the ruling now closes the courthouse door for such claims.
•The U.S. Department of Commerce's Bureau of Industry and Security denied Polestar authorization to sell model-year 2027 and later vehicles in the U.S. under the connected-vehicle rule.
•Polestar said it is increasing its strategic focus on Europe, noting that 94% of its Q1 2026 retail sales of 13,126 vehicles came from outside the U.S. market.
•Citi analyst Ross MacDonald noted that Polestar did not receive the favorable authorization that Volvo Cars got in May 2026, potentially giving Volvo an advantage.
•The European regulator's committee recommends revoking marketing authorization for Amgen's Tavneos, advising against starting new patients and switching existing patients to suitable alternatives.
•The FTSE 100 fell on Friday following an attack in the Strait of Hormuz that raised geopolitical concerns, along with a tech selloff that dampened sentiment.
•REalloys (NASDAQ: ALOY) has been conditionally selected to operate rare earth processing facilities at the Tooele Army Depot as part of Executive Order 14241.
•Ship tracking data showed fewer vessels transited the Strait of Hormuz on Friday than earlier this week, hours after Iran fired on a Taiwanese-operated tanker.
•President Trump threatened to greatly increase tariffs on European nations if they follow through on plans to impose new taxes on U.S. tech companies.
•The United States could open a trade investigation into Switzerland's pharmaceutical industry, similar to the one initiated last week against Germany, the head of Swiss industry body Interpharma said.
•US Energy Secretary Chris Wright and Qatari Energy Minister Saad al-Kaabi sent a joint letter to the EU warning that new methane regulations could cause a gas supply crunch and higher prices.
•Algeria and Nigeria also signed onto the letter criticizing EU methane regulations.
•ON Semiconductor said Synaptics's AI compute platform, human-machine interface technology, and connectivity solutions would help it meet demand for increasingly capable AI solutions that can interact with the physical world.
•Bitcoin supply in unrealized loss reached a record 10.83 million BTC, while long-term holders hold approximately 75% of the supply, per Glassnode data.
•Binance, the world's largest crypto exchange, will stop providing services to EU clients after failing to obtain a licence under the MiCA regulatory framework.
•Binance is telling customers how to withdraw their money as the MiCA rules are set to come into force.
