SCMP : Chinese scientists create first cyborg bee with world’s lightest brain co

Chinese scientists create first cyborg bee with world’s lightest brain controller
Chinese-made device can command the movements of bees, making them ideal to help search for survivors in earthquake ruins, scientists say

Worker bees carry nectar sacks weighing 80 per cent of their body mass. When airborne, they tuck their hind legs like landing gear to cut wind drag.
And they can fly 5km (3 miles) with no need for rest, an example of how nature’s genius shames human machinery.
Until now.

At Beijing Institute of Technology, Professor Zhao Jieliang’s team has built the world’s lightest insect brain controller. At 74 milligrams, it is lighter than a sack of nectar.

Strapped to the bee’s back, the device pierces its brain with three needles. It creates illusions with electronic pulses to command flight: turn left, turn right, advance, retreat.

Nine out of 10 times, the bee obeyed.

The cyborg bee could serve as military scouts or search for survivors in the ruins of an earthquake, according to a peer-reviewed paper published on June 11, in the Chinese Journal of Mechanical Engineering.
“Insect-based robots inherit the superior mobility, camouflage capabilities and environmental adaptability of their biological hosts,” wrote Zhao and his colleagues.

“Compared to synthetic alternatives, they demonstrate enhanced stealth and extended operational endurance, making them invaluable for covert reconnaissance in scenarios such as urban combat, counterterrorism and narcotics interdiction, as well as critical disaster relief operations,” they added.

Before this, the lightest cyborg controller came from Singapore and was triple the weight. It could command beetles and roaches but they crawled at relatively slow speeds in short ranges and fatigued quickly.
Zhao’s team printed circuits on polymer film. While flexible and as thin as insect wings, it hosts numerous chips including an infrared remote.

Tests were done in nine pulse settings. The researchers studied bee wings and cockroach turns. They mapped signals to motion, made bees bank and made roaches trace long straight paths with little deviation.

But some flaws remain.

Bees need wired power and roaches tire after 10 zaps. One signal stirs different moves in different bugs, according to the researchers.

A long-lasting battery weighs 600mg – far too heavy for a bee. Their legs and bellies also refuse commands.

“In future research, precision and repeatability of insect behaviour control will be enhanced by optimising stimulation signals and control techniques,” wrote Zhao’s team.

“Concurrently expanding functional modules of the control backpack will improve environmental perception capabilities of insect-based robots, advancing their deployment in complex operational settings such as reconnaissance and detection missions,” they added.

Nations have engaged in an intense race on cyborg tech. The US Defence Advanced Research Projects Agency (DARPA) used to take the lead, with Japan trailing closely. But now China is smashing records in this field, thanks to ample government funding and a booming electronics industry.

>>> Europe : Brokers Upgrades & Downgrades - 10th of July 2025 V2(+)

>>> Up
* Capricorn Energy Raised to Buy at Peel Hunt
* Leonardo Raised to Buy at Equita; PT 55 euros (+)
* Liontrust Raised to Buy at Peel Hunt; PT 435 pence (+)
* McDonald's Raised to Buy at Goldman; PT $345
* Neinor Raised to Buy at JB Capital Markets; PT 20.20 euros
* NN Group Raised to Buy at BofA
* Nvidia PT Raised to $196 from $165 at CFRA
* Oracle Raised to Overweight at Piper Sandler; PT $270
* Roku Raised to Overweight at KeyBanc; PT $115

>>> Down
* ALA Cut to Hold at Equita; PT 37.50 euros (+)
* Aperam Cut to Hold at Jefferies; PT 30 euros
* British Land Cut to Underperform at Jefferies; PT 298 pence
* Cheesecake Factory Cut to Neutral at Goldman; PT $67
* Cint Cut to Hold at SEB Equities; PT 9 kronor
* Commerzbank Cut to Neutral at BofA
* EFG International Cut to Neutral at Citi; PT 15.40 Swiss francs
* Gestamp Cut to Hold at Bestinver; PT 3.15 euros
* HarbourVest Global Cut to Hold at Jefferies
* Icade Cut to Sell at Goldman; PT 18 euros
* Indutrade Cut to Sell at ABG; PT 240 kronor
* Land Sec. Cut to Underperform at Jefferies; PT 492 pence
* Lundin Mining Cut to Neutral at JPMorgan; PT C$15.60
* Paradox Interactive Cut to Hold at SEB Equities; PT 210 kronor
* RTL Cut to Neutral at JPMorgan; PT 40 euros
* Target Healthcare REIT Cut to Hold at Jefferies; PT 99 pence
* TFF Group Cut to Neutral at Oddo BHF; PT 22 euros
* Verizon Cut to Equal-Weight at Morgan Stanley; PT $47
* WithSecure Cut to Reduce at Inderes; PT 1.10 euros

>>> Initiation
* AST SpaceMobile Rated New Buy at Clear Street; PT $59
* Dof Group Rated New Buy at SEB Equities; PT 118 kroner
* Exail Technologies Rated New Buy at Berenberg; PT 125 euros
* I-RES Re-Initiated Buy at Goodbody
* INVISIO AB Rated New Buy at Nordea; PT 435 kronor
* Logistea Rated New Buy at Nordea; PT 20 kronor
* Solstad Maritime Holding Rated New Buy at SEB Equities
* Trustpilot Rated New Buy at Kepler Cheuvreux; PT 296 pence

>>> Call
* Aperam Downgraded to Hold at Jefferies on Muted European Pricing
* EFG’s Strong Premium Difficult to Justify, Citi Cuts to Neutral
* JPMorgan Sees ‘Speed Bumps’ for Base Metals; Lundin Mining Cut
* Land Securities, British Land Cut at Jefferies on Tough Backdrop

WSJ : June’s U.K. Home Buyer Demand Turns Positive for the First Time Since Dece

June’s U.K. Home Buyer Demand Turns Positive for the First Time Since December
The result indicated stabilization, rather than a strong recovery

U.K. house buyer demand in June turned positive for the first time since December 2024, but challenges remain for both buyers and sellers, according to a report from the Royal Institution of Chartered Surveyors.

According to the report, the net balance for new buyer enquiries rose 3% in the month, an improvement from May’s minus 22%. Still, this indicates a period of stabilization rather than a strong recovery, RICS says.

Moreover, the national net balance for agreed sales improved significantly from previous months to minus 3%, representing a significant improvement from the minus 25% and minus 28% reported in earlier surveys. Nonetheless, sales momentum is expected to remain subdued in the near term despite this positive trend, the association’s survey said.

And although near-term expectations for sales volumes have turned marginally positive, with a net balance of plus 6%, a sharp contrast to May’s minus 2%, respondents foresee a broadly flat sales volumes landscape over the next 12 month, with a net balance of plus 5%.

House prices in the U.K. continue to follow a flat to marginally negative trend, with price activity seeing a deep regional variation. The South East, East Anglia and London have seen a more pronounced fall in prices, with Northern Ireland, the North West, Scotland and the East Midlands seeing clear growth.

“Encouragingly, near-term sales expectations have begun to edge higher, pointing to a modest shift in sentiment. That said, confidence in the market remains somewhat delicate, with economic uncertainty at both the domestic and global level still seen as a potential headwind,” RICS said.

FT : News-powered hedge fund group Hunterbrook valued at $100mn

News-powered hedge fund group Hunterbrook valued at $100mn
Novel investment firm that trades off its reporters’ scoops raises fresh capital and plans move into litigation

Hunterbrook Global has been valued at $100mn after a recent fundraising, as the novel US newsroom-cum-hedge fund revealed to investors that it planned to move into litigation.

The new capital, raised by the parent company that oversees the hedge fund Hunterbrook Capital and the news outlet Hunterbrook Media, has come from investors, including the Ford Foundation and venture capital firm Floating Point, according to a person familiar with the fundraise.

Hunterbrook was launched in 2023 by investor Nathaniel Brooks Horwitz and writer Sam Koppelman, creating a newsroom that would gather exclusive information and a hedge fund that would trade off it.

The recent fundraise doubled Hunterbrook’s valuation from its 2023 seed round and is separate from the $100mn raised last year for the investment fund run by Hunterbrook Capital.

The new funds will be invested in building its newsroom further, according to a person close to the situation. Hunterbrook declined to comment.

Hunterbrook also revealed to investors in a letter that it planned to further exploit its news gathering by launching a litigation business that would partner with law firms on cases enabled by the newsroom’s reporting. The business is being led by led by media lawyer and litigator Joe Slaughter.

The fund, which started trading in April 2024, gets exclusive early access to the newsroom’s potentially market-moving stories, enabling it to trade on the scoops. Meanwhile, profits made from the fund are ploughed back into the newsroom to continue to build its expertise.

Hunterbrook initially envisaged that it would short stocks in instances where its newsroom exposed scandals, but this approach has been sidelined in an “irascible bull market”, according to the investor letter.

The letter also details how Hunterbrook is generating a sizeable portion of its returns by taking long positions in businesses its journalists have investigated and found to be sound.

Hunterbrook’s fund generated a 31 per cent return in the second quarter of 2025 and a 16 per cent return year to date.

“This won’t be the norm, though we’ll always aspire to it. But it also wasn’t a normal quarter to achieve these results, either,” the letter says. “The fund navigated the crash in April, the violent recovery into May, its unlikely continuation to new all-time highs in June, and kaleidoscopic skirmishes with misinformation along the way.”

The fund is closed to new investors but existing partners, including Horwitz and Koppelman, recently added to their holdings, according to the letter.

Hunterbrook’s investments in the period have included Core Scientific, a data centre infrastructure provider that is being acquired by CoreWeave for $9bn, as well as Evolv Technologies, Carpenter Technology and Rocket Companies.

The letter also pointed to one “untradable scoop”: on Saturday June 21, when markets were closed, Hunterbrook Media broke the news that B-2 stealth bombers had launched from an Air Force base in Missouri, indicating the US would imminently join Israel’s bombardment of Iran.

>>> What to look at today - 10th of July 2025

US equity-index futures edged down along with the dollar after President Donald Trump dialed-up trade tensions once again with a 50% tariff on copper and issued a new round of letters imposing higher levies on countries. Contracts for the S&P 500 index fell 0.2% and a gauge of the dollar dipped by 0.1% Thursday. Asian shares were flat. Bitcoin held near a record high it hit on Wednesday. Earlier, Brazilian assets plunged after Trump announced new tariff letters, including imposing 50% levy on goods from the country.  Meanwhile, an auction of 20-year government notes in Japan drew a demand ratio that was lower than its 12-month average of 3.29. Copper prices moved higher after Trump said the US would begin levying a 50% tariff on copper imports from Aug. 1, confirming a move, which will hurt producers who rely on the industrial material. Copper futures on the London Metal Exchange — the global benchmark — gained 0.4% to $9,664.50 a ton, while contracts on Comex rose almost 3%. Trump has signaled a renewed determination to push ahead with his plans to heavily tax foreign imports after pausing his so-called ‘reciprocal’ tariffs until July 9. Even so, investors have been piling back into stocks - the S&P 500 hit a record last week - as traders brush off fears that the levies would lead to a meaningful slowdown for the global economy or company earnings.  Global producers have raced to get ahead of Trump’s planned copper levies, including in recent days shifting deliveries to Hawaii and Puerto Rico to cut shipment times.  Investors bearish on US assets had sold the dollar as part of the ‘Sell America’ trade. A gauge of the currency has declined 8.7% this year. Trump also said Wednesday he would levy a 30% rate on Algeria, Libya, Iraq and Sri Lanka, with 25% duties on products from Brunei and Moldova and a 20% rate on goods from the Philippines. The levies were largely in line with rates Trump had initially announced in April against those countries, though Iraq’s duties are down from 39% and Sri Lanka’s reduced from 44%. Brazil’s 50% rate marked one of the highest levies announced so far, and is set to hit in August. Trump cited the treatment of former President Jair Bolsonaro in his letter to the nation, calling on authorities to drop charges against him over an alleged coup attempt. Brazil will respond to the US using its reciprocity law, President Luiz Inacio Lula da Silva said. To be sure, even with the recent increase in tariff angst, stocks have run up. The MSCI All Country World Index hit a record last week and the S&P 500 closed Wednesday near the record achieved last week. In Japan, demand at the 20-year government bond auction was lower than the average over the past 12 months, as an upcoming election highlights the likelihood that the nation’s sovereign debt will keep rising. The Ministry of Finance has adjusted its issuance to reduce the amount of longer-maturity bonds it sells, which has shown some signs of curbing bond-market volatility. Yet investors are concerned about the market impact of rising debt levels, which are in the spotlight as politicians seek to woo voters with more government spending or tax cuts ahead of an election of the Upper House later this month. US After Hours KLG +54.3% surging on WSJ report that Ferrero nearing deal to acquire KLG; NRIX +10.7% higher on earnings; MEI -14.2%, AXTI -11.8% lower on earnings/guidance.

Nikkei -0.66% Hang Seng +0.34% CSI +0.64% Shanghai +0.58% Shenzen +0.15%

Eur$ 1.1735 CNH 7.1819 CNY 7.1781 JPY 146.26 GBP 1.3605 CHF 0.7941 RUB 78.1343 TRY 40.0408 WTI$ 68.45 +0.13% Gold 3,322 +0.25% BTC 111,182 +0.38% ETH 2,780 +1.50%

S&P -0.23% Nasdaq -0.28% EuroStoxx +0.20% FTSE +0.36% Dax +0.21% SMI +0.41%

Macro :
- Europe’s Clash With Musk’s xAI Empire Escalates on Grok’s Rants
- Bitcoin Derivatives Suggest Rally to $120,000 in Store
- China Inc.’s July Dividend Outflows Spark Caution Alert on Yuan

Keep an eye on :
- AALB NA : Aalberts to Buy Grand Venture Tech for S$0.94 per Share in Cash
- AGR AV : Agrana 1Q Loss EU7.9M Vs. Profit EU16.1M Y/y
- AMZN US : Amazon Weighs Multibillion-Dollar Investment in Anthropic: FT
- APPL US : Apple Should Consider Replacing Tim Cook as CEO, LightShed Says
- AAPL US : Meta Poached Apple’s Pang With Pay Package Over $200 Million
- ADSK US : Autodesk Is Said to Weigh Takeover of Software Firm PTC
- BARN SW : Swiss Cocoa Grinder Barry Callebaut Cuts Guidance Again
- BBVA SM : EU to Open Infringement Probe Against Spain Over BBVA: Expansion
- 1211 HK : BYD, Other EV Battery Makers Face More Pressure to Cut Emissions
- GOOS CN : Canada Goose’s Private Equity Backer Is Said to Weigh Stake Sale
- CAN LN : Apple’s Formula 1 US Rights Bid in $150m-$200m/Yr Range: Puck
- EMBR3 BZ : Embraer Leads Drop in Brazil ADRs as Trump Unveils 50% Tariff
- EPR NO : Europris 2Q Gross Margin Misses Estimates
- FIE GY : Fielmann Prelim 1H Sales About EU1.2B
- FNOX SS : Fortnox Applies for Delisting From Nasdaq Stockholm
- GXI GY : Gerresheimer 2Q Adjusted Ebitda EU118.9M
- HEIJM NA : Heijmans Gets €194m Contract to Upgrade High-Voltage Substation
- ALLEC FP : Legrand to Buy Majority Stake in Cogelec at €254m Valuation
- CIRSA SM : Blackstone-Backed Casino Firm Finishes Flat in Spain Debut
- CE IM : Credito Emiliano Appoints Stefano Morellini as Director General
- GILT IT : Gilat Shares Rise as Satellite Company Provides Order Update
- KLG US : Ferrero Is Said to Near $3 Billion Deal for WK Kellogg
- KLG US : Option Traders Loaded Up on WK Kellogg Calls Before Deal News
- KEMIRA FH : Kemira Cuts FY Revenue Forecast
- LR FP : Legrand to Buy Majority Stake in Cogelec at €254m Valuation
- FII FP : LISI in Exclusive Talks With SK Capital for LISI Medical
- META US : Meta Notified of Potential Antitrust Violation by French Agency
- META US : Meta Poached Apple’s Pang With Pay Package Over $200 Million
- MSFT US : Microsoft Touts $500 Million in AI Savings While Slashing Jobs
- MBLY US : Mobileye Prices Offering of 50m Class A Shares at $16.50/Shr
- NWL IM : Kraft Heinz Agrees Latina Food Plant Sale to Italy’s NewPrinces
- NVDA US : Nvidia’s Huang Plans to Meet Top China Leaders in Beijing: FT
- NVDA US : Nvidia Challenger Groq Discusses $6 Billion Valuation
- PGHN SW : Partners Group Agrees to Buy Majority Stake in Infinity Fincorp
- PRX NA : Prosus CFO Exercises Restricted Share Units Awarded on June 21
- PTC US : Autodesk Is Said to Weigh Takeover of Software Firm PTC
- PYRUM NO : Pyrum Innovations Offers Shares at EU28/Share to Trade July 22
- RSGN SW : R&S Group Holder Offers 1M Shares: Terms
- ALSEM FP : Semco Soars in Paris as Investors Flock to Chip-Related IPO (1)
- SZU GY : Suedzucker 1Q Operating Profit EU22M Vs. EU155M Y/y, Südzucker Sees ‘Significant’ Decline in 2Q Earnings
- TECN SW : Tecan Names Monica Manotas new CEO
- TSLA US : Musk Says Robotaxi Expanding Austin Service Area This Weekend
- TSLA US : Tesla Shareholders Press Board to Schedule Annual Meeting -- WSJ
- ALTRO FP : TDK Plans Buyout Offer, Then Squeeze-Out for Tronic Shares
- 2330 TT : TSMC Revenue Climbs 39% in Latest Sign of AI Spending Boom

>>> Europe : Brokers Upgrades & Downgrades - 10th of July 2025

>>> Up
* Capricorn Energy Raised to Buy at Peel Hunt
* McDonald's Raised to Buy at Goldman; PT $345
* Neinor Raised to Buy at JB Capital Markets; PT 20.20 euros
* NN Group Raised to Buy at BofA
* Nvidia PT Raised to $196 from $165 at CFRA
* Oracle Raised to Overweight at Piper Sandler; PT $270
* Roku Raised to Overweight at KeyBanc; PT $115

>>> Down
* Aperam Cut to Hold at Jefferies; PT 30 euros
* British Land Cut to Underperform at Jefferies; PT 298 pence
* Cheesecake Factory Cut to Neutral at Goldman; PT $67
* Cint Cut to Hold at SEB Equities; PT 9 kronor
* Commerzbank Cut to Neutral at BofA
* EFG International Cut to Neutral at Citi; PT 15.40 Swiss francs
* Gestamp Cut to Hold at Bestinver; PT 3.15 euros
* HarbourVest Global Cut to Hold at Jefferies
* Icade Cut to Sell at Goldman; PT 18 euros
* Indutrade Cut to Sell at ABG; PT 240 kronor
* Land Sec. Cut to Underperform at Jefferies; PT 492 pence
* Lundin Mining Cut to Neutral at JPMorgan; PT C$15.60
* Paradox Interactive Cut to Hold at SEB Equities; PT 210 kronor
* RTL Cut to Neutral at JPMorgan; PT 40 euros
* Target Healthcare REIT Cut to Hold at Jefferies; PT 99 pence
* TFF Group Cut to Neutral at Oddo BHF; PT 22 euros
* Verizon Cut to Equal-Weight at Morgan Stanley; PT $47
* WithSecure Cut to Reduce at Inderes; PT 1.10 euros

>>> Initiation
* AST SpaceMobile Rated New Buy at Clear Street; PT $59
* Dof Group Rated New Buy at SEB Equities; PT 118 kroner
* Exail Technologies Rated New Buy at Berenberg; PT 125 euros
* I-RES Re-Initiated Buy at Goodbody
* INVISIO AB Rated New Buy at Nordea; PT 435 kronor
* Logistea Rated New Buy at Nordea; PT 20 kronor
* Solstad Maritime Holding Rated New Buy at SEB Equities
* Trustpilot Rated New Buy at Kepler Cheuvreux; PT 296 pence

>>> Call
* Aperam Downgraded to Hold at Jefferies on Muted European Pricing
* EFG’s Strong Premium Difficult to Justify, Citi Cuts to Neutral
* JPMorgan Sees ‘Speed Bumps’ for Base Metals; Lundin Mining Cut
* Land Securities, British Land Cut at Jefferies on Tough Backdrop

>>> Stoxx 600 Pre-Market Indications

  • Rio Tinto (RIO1 TH) +2%
    • Trump Says 50% Tariff on Copper Imports to Take Effect August 1
  • Rolls-Royce (RRU TH) +1.8%
  • Indra (IDA TH) +1.2%
  • RENK Group (R3NK TH) +1.1%
  • Kongsberg (KOZ1 TH) +1%
  • Hexagon (HXG TH) +0.9%
  • Vinci (SQU TH) +0.8%
  • Glencore (8GC TH) +0.8%
  • Gerresheimer (GXI TH) +0.7%
    • Gerresheimer 2Q Adjusted Ebitda EU118.9M
  • Air Liquide (AIL TH) +0.7%
  • Santander (BSD2 TH) -0.5%
  • Roche (RHO5 TH) -0.5%
  • Rubis (BYN TH) -0.7%
  • Credit Agricole (XCA TH) -0.9%
  • Leonardo (FMNB TH) -0.9%
  • Fresnillo (FNL TH) -1%
  • Commerzbank (CBK TH) -1.2%
  • British Land (BLD TH) -1.5%
    • Land Securities, British Land Cut at Jefferies on Tough Backdrop