Table of Contents

• US Homes

• Nestlé

• WeRide

Top Stories Today

Economy & Finance

US Homes

U.S. existing home sales increased by 1.3% in July, breaking a four-month decline, thanks to improving supply and falling mortgage rates. Sales reached an annual rate of 3.95 million units, exceeding expectations. Despite the rise, sales were still down 2.5% compared to the previous year. The median home price jumped 4.2% to $422,600, with prices rising across all U.S. regions. Inventory also grew, though entry-level homes remain scarce. The market is showing signs of stabilization, but affordability and supply challenges persist.

Nestlé

Nestlé announced that CEO Mark Schneider will step down, to be succeeded by company veteran Laurent Freixe on September 1st. Schneider, who led Nestlé through a major restructuring and the challenges of the COVID-19 pandemic, leaves after eight years amid recent struggles with sales growth. Freixe, who has been with Nestlé since 1986, plans to focus on the company's core brands to regain consumer loyalty. The leadership change comes as Nestlé faces increasing competition and a decline in stock performance compared to its rivals.

Technology

WeRide

WeRide has postponed its planned initial public offering (IPO) in the U.S., citing the need for additional time to finalize the required documentation. The Chinese self-driving technology company had intended to raise up to $440 million. This delay comes amid a dry market for Chinese IPOs in the U.S., making WeRide’s potential listing highly anticipated as a possible sign of a revival in this sector. The IPO, if completed, would be one of the largest U.S. listings by a Chinese company since Didi's in 2021. The company’s Beijing approval for the deal is set to expire soon, creating uncertainty about whether it will need to reapply if the deadline is missed. WeRide, which was founded in Silicon Valley in 2017 and launched its first robotaxi service in Guangzhou, China, in 2019, had filed for its Nasdaq listing in July. The company's last reported valuation was around $5.11 billion, with $1.39 billion raised to date.

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