China's Geely is officially bringing its luxury EV startup Zeekr private
The news comes two months after Geely offered to take Zeekr private, following President Donald Trump's threats earlier this year to delist Chinese stocks from U.S. exchanges.
When the merger closes, Zeekr shareholders will receive either $2.69 in cash per share or 1.23 newly issued Geely shares for each Zeekr share they own, per a regulatory filing. Holders of Zeekr American depositary shares (ADSs), which each represent 10 Zeekr shares, will receive either $26.87 in cash or 12.3 Geely shares, delivered as Geely ADSs. It's a slightly higher offering than what Geely first proposed in May.
Investors can choose between cash or stock options, except for certain Hong Kong retail investors, who will receive cash by default.
Zeekr's board has already approved the merger, which is expected to close in the fourth quarter of 2025.
It's not clear how Zeekr's move to go private will affect its deal with Waymo to build purpose-built robotaxis for large-scale deployment in the U.S. Waymo is expected to launch its Zeekr vehicles in the Bay Area this year, some of which have been spotted testing on the roads of San Francisco.
TechCrunch has reached out to Waymo for more information.
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Expect the company to raise prices by 1% to 2% to offset some of the costs as well, executives said. Boston Beer did see tariffs negatively affect its gross margin toward the end of the second quarter, but it benefited from improved brewery efficiencies. For the second quarter, the company reported profits of $5.45 per share on revenue of $625 million, versus estimates for earnings of $4.00 per share on $588 million, according to S&P Global Market Intelligence. "Right now, I think we're very happy with the performance," Boston Beer CEO Michael Spillane said on the earnings call. "Not only that, but that's allowed us to offset some of the tariffs that we've seen so far." The Boston Beer Company (SAM) continues to feel the effects of President Trump's tariffs, but a strong quarter of sales and profit is helping the Samuel Adams brewer absorb some of those cost increases. Boston Beer expects tariffs to add about $15 million to $20 million in costs for the full year. Previously, it modeled tariff costs of $20 million to $30 million. Expect the company to raise prices by 1% to 2% to offset some of the costs as well, executives said. Boston Beer did see tariffs negatively affect its gross margin toward the end of the second quarter, but it benefited from improved brewery efficiencies. For the second quarter, the company reported profits of $5.45 per share on revenue of $625 million, versus estimates for earnings of $4.00 per share on $588 million, according to S&P Global Market Intelligence. "Right now, I think we're very happy with the performance," Boston Beer CEO Michael Spillane said on the earnings call. "Not only that, but that's allowed us to offset some of the tariffs that we've seen so far." 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Reuters reports: South Korean battery firm LG Energy ( Solution warned on Friday of a further slowdown in demand by early next year due to U.S. tariffs and policy uncertainties after it posted a quarterly profit jump. Its major customers Tesla (TSLA) and General Motors (GM) warned of fallout from U.S. tariffs and legislation that will end federal subsidies for EV purchases on September 30. "US tariffs and an early end to EV subsidies will put a burden on automakers, potentially leading to vehicle price increases and a slowdown in EV growth in North America," CFO Lee Chang-sil said during a conference call. Read more here. Japan, US differ on how trade-deal profits will be split Japan said Friday that profits from the $550 billion investment deal with the US will be shared based on how much each side contributes. A government official suggested the US will also put in significant funds, but details of the scheme remain unclear. The White House had announced earlier in the week that the US would retain 90% of the profits from the $550 billion US-bound investment and loans that Japan would exchange in return for reduced tariffs on auto and other exports to the US. This would mean that returns would be split 10% for Japan and 90% for the US, according to the White House official, and that it would be "based on the respective levels of contribution and risk borne by each side." Bloomberg News reports: Read more here. Japan said Friday that profits from the $550 billion investment deal with the US will be shared based on how much each side contributes. A government official suggested the US will also put in significant funds, but details of the scheme remain unclear. The White House had announced earlier in the week that the US would retain 90% of the profits from the $550 billion US-bound investment and loans that Japan would exchange in return for reduced tariffs on auto and other exports to the US. This would mean that returns would be split 10% for Japan and 90% for the US, according to the White House official, and that it would be "based on the respective levels of contribution and risk borne by each side." Bloomberg News reports: Read more here. US business activity rises; tariffs fuel inflation concerns US business activity rose in July, but companies increased the prices for goods and services, supporting the view from economists that inflation will accelerate in the second half of 2025 and it will mainly be due to tariffs on imports. Reuters reports: Read more here. US business activity rose in July, but companies increased the prices for goods and services, supporting the view from economists that inflation will accelerate in the second half of 2025 and it will mainly be due to tariffs on imports. Reuters reports: Read more here. 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And we all know that tariff situation is a bit fluid." Keurig is one of the biggest coffee importers in the US, along with Starbucks (SBUX) and Nestle (NSRGY). The US sources most of its coffee from Brazil, which is set to face 50% tariffs on its products on Aug. 1, and Colombia, which faces a tariff rate of 10%. In Keurig's coffee business, appliance volume decreased 22.6% during the quarter, reflecting impacts of retailer inventory management, and K-Cup pod volume decreased 3.7%, reflecting category elasticity in response to price increases, the company reported. "Our retail partners will likely continue to manage their inventory levels tightly, in particular on brewers," Cofer commented. "And then finally, you know we did a round of pricing at the beginning of the year. We've announced another round of pricing that will take effect next month, and we'll need to closely monitor how that elasticity evolves." Read more about Keurig earnings here. Keurig Dr. Pepper CEO Tim Cofer said that tariffs are putting additional pressure on the company in an earnings call Thursday, especially when it comes to its coffee business, which KDP expects to be "subdued" for the remainder of the year. "Commodity inflation will build as we roll into the back half and we roll into our higher cost hedges on green coffee," Cofer said. "The tariff impacts will become prominent. And we all know that tariff situation is a bit fluid." Keurig is one of the biggest coffee importers in the US, along with Starbucks (SBUX) and Nestle (NSRGY). The US sources most of its coffee from Brazil, which is set to face 50% tariffs on its products on Aug. 1, and Colombia, which faces a tariff rate of 10%. In Keurig's coffee business, appliance volume decreased 22.6% during the quarter, reflecting impacts of retailer inventory management, and K-Cup pod volume decreased 3.7%, reflecting category elasticity in response to price increases, the company reported. "Our retail partners will likely continue to manage their inventory levels tightly, in particular on brewers," Cofer commented. "And then finally, you know we did a round of pricing at the beginning of the year. We've announced another round of pricing that will take effect next month, and we'll need to closely monitor how that elasticity evolves." Read more about Keurig earnings here. The EU's Trump insurance As my colleague detailed below, EU member states voted to impose tariffs on over $100 billion of US goods from Aug. 7. The Financial Times reported that this move that allows the bloc to impose the levies quickly at any point in the future should its trade relationship with the US take a turn for the worse. From the report: Read more here (subscription required). As my colleague detailed below, EU member states voted to impose tariffs on over $100 billion of US goods from Aug. 7. The Financial Times reported that this move that allows the bloc to impose the levies quickly at any point in the future should its trade relationship with the US take a turn for the worse. From the report: Read more here (subscription required). Europe approves $100B-plus tariff backup plan A report in the Wall Street Journal on Thursday said that the European Union has now approved its retaliatory tariff package on US goods that could start in August if no trade agreement is reached. The EU announced on Wednesday that it will hit the US with 30% tariffs on over $100 billion worth of goods in the event that no deal is made and if President Trump decides to follow through with his threat to impose that rate on most of the bloc's exports after Aug. 1. The US exports, which would include goods such as Boeing (BA) aircraft, US-made cars and bourbon whiskey would all face heavy tariffs that match Trump's 30% threat. The approval of the package comes despite the growing optimism that the US and EU will reach a deal that would put baseline tariffs on the bloc at 15%, matching the level the US applied to Japan. The EU is keen to reach a deal with the US but as a cautionary measure has approved 30% tariffs if a deal is not made. A report in the Wall Street Journal on Thursday said that the European Union has now approved its retaliatory tariff package on US goods that could start in August if no trade agreement is reached. The EU announced on Wednesday that it will hit the US with 30% tariffs on over $100 billion worth of goods in the event that no deal is made and if President Trump decides to follow through with his threat to impose that rate on most of the bloc's exports after Aug. 1. The US exports, which would include goods such as Boeing (BA) aircraft, US-made cars and bourbon whiskey would all face heavy tariffs that match Trump's 30% threat. The approval of the package comes despite the growing optimism that the US and EU will reach a deal that would put baseline tariffs on the bloc at 15%, matching the level the US applied to Japan. The EU is keen to reach a deal with the US but as a cautionary measure has approved 30% tariffs if a deal is not made. Trump tariffs wreaking havoc in Brazil's citrus belt Reuters reports: Read more here. Reuters reports: Read more here. 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
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I Asked ChatGPT To Give Me the ‘Cheat Code' for Making the Most of My Money: Here's What It Said
If managing money feels like trying to beat a boss level with no walkthrough, you're not alone. Many people work hard but still feel stuck in the same place financially. So the idea of a 'cheat code,' like having a simple, strategic way to make money work harder, feels tempting. Read Next: Explore More: GOBankingRates asked ChatGPT to outline the most effective habits and tools that can stretch, grow and protect income over time. The goal is not to get rich overnight, but to play smarter with what you earn. So this is the cheat code for making the most of your money, according to ChatGPT. Also see seven tricks to make the most of your bank accounts. Automate Everything You Can ChatGPT put automation at the top of the list. That means setting up automatic transfers into a high-yield savings account, scheduling bill payments and directing part of each paycheck to investments. Services like Wealthfront and Betterment help users auto-invest based on risk preferences. The same goes for investing apps like Fidelity and Vanguard, which let you schedule regular deposits into index funds. Using budgeting tools can help you track spending and catch leaks before they drain your account. 'Automating your money removes emotion and inconsistency from your finances. It's the closest thing to passive self-discipline,' ChatGPT explained. Check Out: Live Below Your Means, Aggressively Living below your means isn't about being cheap; it's about being strategic. ChatGPT suggested tracking every dollar, capping lifestyle creep and viewing minimalist living as a strength. The less you spend, the faster you build a surplus. To do so, it recommended learning how to budget. 'You don't need to track pennies to win at budgeting. What matters most is having a repeatable system,' ChatGPT said. It recommended two simple methods: The 50/30/20 rule: 50% for needs, 30% for wants, 20% for savings or debt Zero-based budgeting: Assign every dollar a job. Apps like YNAB and Goodbudget can help users stick to a plan without getting overwhelmed. Invest Early — Even With Small Amounts Compound interest is the real cheat code. ChatGPT explained that investing early, even small amounts, can grow into a large sum over time. Consistency is key. Put money into broad-market exchange-traded funds (ETFs) or index funds, use tax-advantaged accounts like a Roth IRA, and always reinvest dividends. The sooner you start, the more time your money has to multiply, and history shows this approach beats trying to time the market. Starting small is often better than waiting for the 'right' time. 'Time beats timing. The earlier you invest, the more compound interest works in your favor,' according to ChatGPT. Build an Emergency Buffer One overlooked cheat code is having money set aside for surprises. Surprises happen, and an emergency fund is your financial firewall. ChatGPT recommended saving three to six months' worth of expenses in a high-yield savings account. This cash cushion keeps you from dipping into investments or racking up debt when life throws a curveball. Having this safety net reduces stress and prevents financial setbacks from turning into disasters. Learn How To Maximize Credit, Without Debt Credit isn't just about borrowing. It affects interest rates, housing applications and even job offers. 'Treat your credit score like a tool, not a trap. Use it to access better terms, not unnecessary purchases,' ChatGPT said. That includes paying bills on time, keeping utilization under 30% and regularly reviewing your free credit reports. Strategic use of cash-back cards can also put money back into your pocket, if paid off monthly. Debt with high interest, like credit cards, can quietly eat away at your wealth. If you currently have debt, ChatGPT suggested using either the avalanche method (tackle the debt with the highest interest rate first) or the snowball method (pay off the smallest balances for quick wins). Refinancing or consolidating debt can also help if your credit score allows. Don't Just Save — Earn More Strategically Cutting expenses has limits. Earning more often delivers faster growth. ChatGPT highlighted a growing trend: 'Monetizing skills online, through freelancing, content creation, or digital products, is more accessible than ever.' Instead of chasing endless gigs, ChatGPT said to focus on building high-value skills — think coding, digital marketing or sales. With these skills, you can negotiate raises or land better jobs, which is often more sustainable than juggling multiple side hustles. Platforms like Fiverr, Upwork and Teachable let users build scalable side income, turning time or knowledge into long-term assets. It's not passive at first, but it can become hands-off with the right systems. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard 6 Popular SUVs That Aren't Worth the Cost -- and 6 Affordable Alternatives 7 Things You'll Be Happy You Downsized in Retirement This article originally appeared on I Asked ChatGPT To Give Me the 'Cheat Code' for Making the Most of My Money: Here's What It Said Solve the daily Crossword
