
Energous: Q2 Earnings Snapshot
The San Jose, California-based company said it had a loss of 8 cents per share.
The maker of wire-free charging technology posted revenue of $975 million in the period.
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Business Insider
5 minutes ago
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Pioneer Realty Capital Secures 19.58 Million Dollars Bond Refinancing for Texas Student Housing Project
Pioneer Realty Capital, LLC ('PRC'), a distinguished Texas-based advisory firm specializing in commercial real estate capital markets, proudly announces the successful completion of its inaugural institutional bond refinancing transaction. The sophisticated deal secured $19.58 million in taxable bond funding for 625 at Prairie View, a premier student housing community strategically located adjacent to Prairie View A&M University. This landmark refinancing marks a critical milestone for both PRC and the PRC Equity Fund, underscoring the firm's robust capacity to structure and execute complex, institutionally-backed financing solutions within the higher education real estate sector. The transaction ensures long-term financial sustainability for the property, safeguards investor interests, and provides essential capital momentum for the forthcoming Phase II expansion, anticipated to introduce over 700 additional student beds to accommodate growing demand. Charles Williams, Founder and Managing Member of PRC, emphasized, 'This transaction was about more than merely securing financing—it was a strategic endeavor to preserve investor value and fortify the future of a pivotal housing development dedicated to supporting students from historically underserved communities.' Strategic Execution Amidst Complexities The PRC leadership team, in collaboration with capital markets partners, adeptly navigated regulatory intricacies, procedural hurdles, and stringent time constraints to achieve a timely and efficient closing. Morgan Stanley served as lead underwriter for the bond issuance, supported by Norton Rose Fulbright as legal counsel, Orrick providing bond and trustee counsel, and closing coordination by M&W Law and Stewart Title. Wilmington Trust effectively managed trustee responsibilities Special recognition is extended to Osaze Romany of Morgan Stanley for his exemplary dedication and instrumental role in the transaction's success. Additional critical support was provided by J.C. Shelley and Joeylene Hunggay, who meticulously managed time-sensitive investor waivers, and Elliot Williams, whose proactive intervention ensured lien clearance through personal delivery of documents to the Waller County Courthouse immediately preceding the closing. Demonstrating Commitment and Resilience This successful transaction serves as a definitive response to skeptics questioning the project's viability. Williams noted, 'Throughout the process, the challenges we encountered were substantial. Yet, we remained disciplined, steadfast, and unwaveringly committed to our core mission. This closing represents a collective victory, achieved through integrity, diligence, and collaboration by every stakeholder invested in our vision.' About Pioneer Realty Capital Founded in 2003, Pioneer Realty Capital is a premier Texas-based advisory firm, distinguished by its extensive expertise in structuring debt and equity solutions across national commercial real estate markets. Through the PRC Equity Fund, the firm provides investors with access to institutionally-backed real estate opportunities, specializing in student housing initiatives and public-private community partnerships. Charles Williams


CNBC
7 minutes ago
- CNBC
CNBC's The China Connection newsletter: Beijing wants more babies — are businesses ready for Gen Z parents?
From makers of baby strollers to coding apps, Chinese companies are facing a new kind of customer: the Gen Z parent, with different ideas about raising children and spending on them. China's young parents are digital-natives, have a global outlook and are prefer experiential learning. That mindset is shaping how — and where — they spend. "When you have younger, more digital, international and cosmopolitan parents, their spending patterns are very different [from those of older generations]," said Joe Ngai, chairman of Greater China at McKinsey & Company. Many now prioritize children's experiences, such as golf lessons and ski trips, he added. "We are seeing more spending on the per-kid level, [creating] a more premium market," said Ngai. Businesses catering to enrichment program, extracurriculars and family-centered travel are set to benefit the most, he said. For businesses selling baby formula, cribs, or maternity wear, lower fertility rates have been a drag on growth, still China in 2024 saw nearly three times as many newborns year as the U.S. — a scale that makes its baby-care sector a prize too big to ignore. The baby-care and maternity market was estimated to reach 4.63 trillion yuan (about $645 billion) in 2025, representing around 7% annual growth rate, according to an industry report by iResearch in February. The initial boost from Beijing's stimulus will likely be seen in baby-care and maternity products, before expanding into areas such as pediatric healthcare, early childhood education, insurance products tailored to minors, and technology services designed to support family life. "Think strollers and formula today, but pre-K, private tutoring and family travel tomorrow — all the way to digital learning tools [such as coding apps] and smart parenting apps," said Han Shen Lin, Shanghai-based China Country Director at business consultancy The Asia Group. Parents are also becoming more selective and demanding when it comes to what they buy. Before committing to a product, the younger Chinese parents tend to spend more time comparing options, scrutinizing details and seeking out peer reviews online, said Andy Li, principal at Oliver Wyman in Shanghai. "New parents have become more discerning." That has raised the bar for brands as it's no longer enough to offer quality, companies must also explain why their products stand out. "How to differentiate your proposition, your products against other players in the market has been a major challenge," Li said, noting that giving parents more transparency into what they are buying, especially when it comes to nutrition ingredients, will drive first purchase, ensure retention and brand loyalty. That heightened awareness plays into long-standing concerns over product safety in China — an issue still resonating with Chinese parents nearly two decades after an infant formula scandal in 2008. "For middle-class families still haunted by the 2008 infant formula scandal, many continue to choose foreign brands," said Yaling Jiang, a China-focused independent consumer analyst. In a sign of how quickly public sentiment can shift, driven by the tech-savvy parents, some domestic baby-care brands raised prices days after Beijing rolled out new family subsidies, drawing a swift backlash on social media. The price of one brand of baby wipes jumped from 39 yuan on July 31 to 119 yuan on Aug. 1, according to Manmanmai, an e-commerce price tracker, while a local formula powders' price leapt more than 50% in days. Young parents accused companies of "ripping off the subsidies" before the money has even arrived, with some calling for boycotts. Several brands have since apologized, describing the increases as periodic adjustments. But that backlash highlights a generational shift: Gen-Z parents are value-driven, social media-savvy and quick to call out brands they believe cross the line. In a first for the country, China last month launched a nationwide child-rearing subsidy program, handing out 3,600 yuan ($503) a year for every child under three. It was the first time Beijing extended such subsidy for the firstborn child, with past measures targeting couples with second or third child. The government is betting on the subsidy to reduce the financial strain of parenting and ease what it calls the "fertility anxieties" of young couples. Separately, Beijing on Tuesday announced tuition fees waiver for children in their final year at public preschools and some private kindergartens, starting as soon as the upcoming fall semester. The measures supplement China's efforts to reduce childcare costs at a time when the country is staring at a demographic crisis, fueled by a slide in birth rates. China has seen three consecutive years of population decline, and seven consecutive years of birth rate declines, with a modest rebound in 2024. Muted birth rates also stem from an alarming drop in marriage rates, which fell to the lowest level in almost half a century last year with just 6.1 million new couples. Births dropped to 9.7 million last year — a little over half from the 18.8 million in 2016 when China scrapped its one-child policy that had restricted the size of families — according to Economist Intelligence Unit's estimates based on official data, while the fertility rate is just above 1.0. Fertility rate refers to the average number of children a woman would have in her lifetime. In recent years, China has raised its birth quota to three per couple, introduced tax breaks for childcare and moved to curb after-school tutoring costs. Local officials have tested even bolder incentives, from 10,000 yuan first-baby bonuses in Inner Mongolia to monthly stipends for larger families in Shenyang. But experts say financial incentives alone aren't enough to change minds, particularly among educated women in urban cities, who have continued to face tough choices between career progression, high childcare cost and the burden of eldercare. Millennials and Gen Zs are also part of the so-called "sandwich generation," balancing care for both aging parents and young children. "When you've still got elderly parents to support because there's not a particularly supportive pension system, then a lot of your incomes going up there, rather than, starting your own family," said Harry Murphy Cruise, head of economic research at Oxford Economics. The cost of raising a child until they are 18 relative to per capita GDP is around 6.3 times in China versus 4.11 times in the U.S., according to a population research think tank. Hiring help in tier-1 cities like Shanghai has also been priced out of reach for most dual-income households, said Asia Group's Lin. "For highly-educated, single millennial and Gen Z women who haven't had children, there's a growing awareness of the mental and physical burdens that come with marriage and childbirth," said Jiang. The 3,600 yuan subsidy only covers the cost of about 10 cans (800 to 900 grams each) of infant formula, she pointed out. For now, Beijing's bet is that a little extra cash in parents' pocket — and the spending it triggers — might at least give the country's birth rates a short-term boost, even if it doesn't produce a baby boom. George Chen, partner and co-chair of digital practice at The Asia Group, said that Nvidia CEO Jensen Huang is following Apple CEO Tim Cook's playbook in navigating U.S.-China tensions. Neil Thomas from Asia Society unpacked what matters most to China's President Xi Jinping and why he's seemingly absent on a global stage. Winnie Wu, chief China equity strategist of BofA Securities, explained why she thinks investors shouldn't chase the recent rally in the China markets. China's BYD posted its first decline in monthly deliveries. In July, the leading Chinese EV maker shipped 341,030 units, around 10% lower than 377,628 in June. 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Yahoo
12 minutes ago
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Stanford hires former Nike CEO John Donahoe as athletic director
STANFORD, Calif. (AP) — Former Nike CEO John Donahoe has been hired as athletic director at Stanford. Donahoe will become the school's eighth athletic director and replace Bernard Muir, who stepped down this year. He will officially begin in the role Sept. 8. 'Stanford occupies a unique place in the national athletics landscape,' school president Jon Levin said in a statement. 'We needed a distinctive leader — someone with the vision, judgment, and strategic acumen for a new era of college athletics, and with a deep appreciation for Stanford's model of scholar-athlete excellence. John embodies these characteristics.' ESPN first reported the move. Donahoe graduated from Stanford Business School and was CEO at Nike from 2020-24. Donahoe also served as the CEO of ServiceNow, a global software company, and as CEO of eBay. He served as chair of the board at PayPal from 2015-25 and he worked for Bain & Company for nearly 20 years, including as the firm's worldwide CEO. 'Stanford has enormous strengths and enormous potential in a changing environment, including being the model for achieving both academic and athletic excellence at the highest levels," he said. "I can't wait to work in partnership with the Stanford team to build momentum for Stanford Athletics and ensure the best possible experiences for our student-athletes.' Donahoe takes over one of the countries most successful athletic programs with Stanford having won at least one NCAA title in 49 straight years starting in 1976-77 and a record 137 NCAA team titles overall. But the Cardinal struggled in the high-profile sports of football and men's basketball under Muir's tenure, leading to the decision to hire former Stanford and NFL star Andrew Luck to oversee the football program as its general manager. The Cardinal are looking to rebound in football after going to three Rose Bowls under former coach David Shaw in Muir's first four years as AD. Shaw resigned in 2022 following a second straight 3-9 season and Muir's new hire, Troy Taylor, posted back-to-back 3-9 seasons before being fired in March following a report that he had been investigated twice for allegedly mistreating staffers. Luck hired former NFL coach Frank Reich as interim coach. The men's basketball program hasn't made the NCAA Tournament since Muir's second season in 2013-14 under former coach Johnny Dawkins. Dawkins was fired in 2016 and replaced by Jerod Haase, who failed to make the tournament once in eight years. Muir hired Kyle Smith last March to take over and the Cardinal went 21-14 for their most wins in 10 years. Muir also hired Kate Paye as women's basketball coach last year after Hall of Famer Tara VanDerveer retired. The Cardinal went 16-15 this past season and in missed the NCAA Tournament for the first time since 1987. Muir also oversaw the Cardinal's transition to the ACC this past year after the school's long-term home, the Pac-12, broke apart. ___ AP college sports: Josh Dubow, The Associated Press