Business

Amex, Chase credit card lounge battle moves beyond the airport

Published

3 hours ago

3 July 2026

NewsAdmin

Amex, Chase credit card lounge battle moves beyond the airport

Why credit card lounges are popping up everywhere

An airport lounge — without the security screening or boarding pass.

Credit card companies American Express and Chase are increasingly waging their luxury lounge wars outside the airport. From an air-conditioned retreat in the middle of the desert at Coachella to an exclusive athlete meet-and-greet at the Paris Olympics, these companies are investing big in premium hospitality spaces to win over affluent cardholders.

“It’s very expensive, but I think what’s happening is that the issuers are finding that this is a premium differentiator,” said Donald Fandetti, managing director of consumer finance equity research at Wells Fargo. “It’s all about providing these services and experiences that make it worth it to the cardholder to pay those annual fees.”

American Express’ Platinum and Chase’s Sapphire Reserve cards — the leading premium cards in the market — both upped their annual fees last year. The Amex Platinum now carries a fee of $895 a year, and the Sapphire Reserve has a fee of $795.

The perks associated with these cards, like dining credits, hotel upgrades and digital partnerships, help offset the cost. It’s all an effort to capture and retain the highest spenders. Amex and Chase have jockeyed for years to be the preferred card for the American elite.

More and more, access is making the difference.

“Credit cards [with] higher fees, it’s going to send a certain signal. But what we really need to be making sure is that we’re understanding the psychology of exclusivity” said Dan Bennett, head of behavioral science at Ogilvy Consulting. “It’s easy to say, ‘I have lots of resources.’ It’s harder to say, ‘I have enough social capital to earn my way into spaces.’”

Beyond the airport

Some of the events that American Express Platinum cardholders had lounge access to in 2025 include the US Open tennis tournament; Stagecoach music festival in California; and multiple Formula 1 races worldwide.

Meanwhile, lounges for Chase Sapphire Reserve customers were present at Chicago music festival Lollapalooza; Miami Art Week; Sundance Film Festival; and the PGA Tour.

While some lounges and brand activations are open to all customers or even all attendees at an event, many of these spaces are exclusively reserved for premium cardholders.

“We find this customer to be very engaged,” said Laura Picciano, general manager of Chase Sapphire. “Once you get their business, there’s a lot of loyalty there. And so they’re an important segment to continue to nurture.”

Sundance Film Festival 2026.

Courtesy: Chase Bank

While temporary credit card lounges are popping up at festivals and sporting events, they have also become popular, permanent fixtures inside stadiums and arenas.

American Express has partnerships with more than 20 venues around the world. Eight of them currently have lounges, including Hard Rock Stadium in Miami and the O2 arena in London, with a new location set to open in New York City’s Barclays Center this year.

Bess Spaeth, executive vice president of global brand management and experiences at American Express, said factors like footprint, ability to provide food and beverage and viewing capabilities are all considerations in the decision for which venues get lounges.

“It’s a real puzzle that we try to look at all the pieces and think about it holistically in terms of how we can best serve our members in those spaces,” said Spaeth.

The Chase Lounge at Madison Square Garden.

Courtesy: Chase Bank

Chase has built out lounges at Madison Square Garden and the Chicago Theatre that are open to all of its customers, though Madison Square Garden has a dedicated space for Sapphire Reserve cardholders.

“Lounges are really interesting because economists would think of those as more of a network good,” said Chenzi Xu, assistant professor of economics at the University of California, Berkeley. “These lounges become particularly valuable when there’s a set of them that you can access in a variety of different places … not just in an airport perhaps, but at another exclusive event.”

Attracting high spenders

Chase and American Express are courting wealthy customers who are not only willing to pay the rising annual fees but also rack up higher balances on their cards.

Those with a credit score of 720 or above, which is typically required to get approved for a Sapphire Reserve or Platinum card, spend more than double the average of those within a score between 660 and 719, according to data from the Federal Reserve Bank of Philadelphia.

American Express said earlier this year that it shifted marketing dollars away from no-fee cards to its more premium offerings as it looks to attract more affluent cardholders.

American Express credit card fees totaled nearly $10 billion in 2025, up about 18% since 2024. Chase doesn’t break out credit card fee revenue.

“Chase is working really hard to compete with [American Express],” said Xu. “They’re just making the benefits of having these cards better and better for the consumer. That competition is good for the consumer, but it’s a competition that’s only happening at the high end, and at the low end you don’t see nearly as much entry and you don’t see as much competition.”

That upper echelon is key for the credit companies. A 2025 Mastercard report found that affluent consumers, defined as households with an income of $200,000 or more and at least $250,000 in investable assets, spend 4.3 times the general population on discretionary purchases.

According to data from J.D. Power, cardholders with an annual fee of more than $500 spent an average of $3,200 per month from May 2025 to June 2026, up about 17% from the prior 12-month period.

Meanwhile, those with cards that have a fee of less than $500 spent an average of $1,144 per month, up about 6% from the year earlier.

It’s yet another signal of what economists commonly call a “K-shaped economy” in which high earners speed freely, while lower-income consumers pull back in some areas. It’s also putting even greater importance on the higher spenders during a period of economic uncertainty.

“The allure of the premium segment to these card issuers is that you have heavy spenders,” said Fandetti. “This business takes a lot of scale. So you have to have a very big revenue base to sort of fund all these lounges and rewards and benefits.”

Building on brands

Lounges are just one way that the credit card companies leverage their sponsorships with these venues.

Chase’s head of dining and lifestyle, Paul Needham, said it also offers things like gift bags, premium viewing areas, special access to merchandise and money off of food through its partnerships.

Chase and American Express often offer discounts or statement credits, too, for purchases at their respective sponsored venues as well as at certain events like music festivals.

“I think when you take that broader picture on the sports and entertainment venues, what we’re really trying to do is both elevate these moments for our customers, but also reach our customers in places and contexts where we know they’re so passionate and so excited to be there,” said Needham.

Chase Sapphire Reserve cardholders get access to dinner events hosted on FIFA World Cup pitches in New Jersey and California. Meanwhile, Marriott Bonvoy partnered with American Express in April to recreate New York City’s iconic Rao’s restaurant inside one of its hotels for a cardholder dinner event. Marriott has long partnered with both American Express and Chase for its co-branded credit cards.

This category of cards, which also includes co-branded offerings from Delta Air Lines and Hilton, accounted for about a quarter of American Express cardmember spending in 2025, according to an Amex report.

Bennett of Ogilvy Consulting said one of the key considerations for credit card companies to be in some of these physical spaces is whether they can play an authentic role at the event in question. He said American Express at Coachella is a good example, because it provides a space to cool off in the middle of the desert heat.

“You can’t just set up these kind of corporate fortresses exactly the same in each place. That’s not going to cut it. What is going to cut it is really understanding the needs of the customer at each of these places,” said Bennett.

Spaeth says parts of the American Express strategy has been leaning into fandoms, ranging from collaborations with music artists like Harry Styles and Olivia Rodrigo to the NFL and Formula 1.

A general view of the American Express Lounge during the Formula 1 Qatar Airways Australian Grand Prix 2026 Preview Day at Albert Park Grand Prix Circuit on March 2, 2026 in Melbourne, Australia.

Josh Chadwick | Getty Images

American Express’ partnership with Formula 1 kicked off in 2023 and marked its first new sports sponsorship in more than a decade. A year later, it further expanded the deal and started rolling out new fan perks like trackside lounges.

“Our hope is that you engage with these moments, deepen the emotional connection that you have with American Express and that really raises the American Express card to the very tippy top of your wallet,” said Spaeth.

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Business

Trump Freedom 250 sponsors include companies with federal business

Published

2 minutes ago

3 July 2026

NewsAdmin

Trump Freedom 250 sponsors include companies with federal business

Who is funding Trump’s Freedom 250 celebrations?

WASHINGTON — On the National Mall this week, Freedom 250 signs pointed visitors toward temporary state pavilions, a Ferris wheel and mobile, transitory history exhibits. Sponsor names appeared beside Trump-aligned programming. Some states were represented by official delegations. Others had opted out, leaving replacement displays or stripped-down booths in their place.

As the country prepares to mark its semiquincentennial, or 250th birthday, the splashiest celebrations in Washington are being shaped by corporate money.

A CNBC analysis found 14 companies backing both America250, the nonprofit supporting the congressionally created U.S. Semiquincentennial Commission, and Freedom 250, the Trump-backed public-private partnership behind some of the administration’s most visible anniversary events.

The companies listed online as backing both are: Boeing, Deloitte, Exiger, John Deere, Lockheed Martin, Northrop Grumman, Oracle, Palantir, Phorm Energy, RTX SAP, Scotts Miracle-Gro, UFC and United Airlines.

Of those companies, only John Deere responded to a CNBC request for comment, but it did not address specific questions about its sponsorship of both organizations. John Deere said it was eager to celebrate the people whose work helped “build power, feed and sustain” the U.S.

Several of those companies have major business before the federal government, including defense contracts, technology contracts, regulatory interests, merger considerations, tax issues and other policy matters shaped by the Trump administration.

CNBC did not find any evidence of a connection between the Freedom 250 sponsorships and the companies’ dealings with the administration.

But it’s another example of the complex intersection of corporate America and politics under a president who’s been increasingly close with companies.

Watchdogs and ethics experts have said the structure gives companies with business before the administration a new way to seek access to President Donald Trump, with much of the money hidden from public view.

“The concern is not that companies are sponsoring a national celebration. The concern is that this celebration appears to offer access to the president while some of those companies have business before his administration,” said Bruce Freed, the president and co-founder of the Center for Political Accountability that advises companies on political spending.

Democrats on the House Natural Resources Committee released a report this week criticizing the president and Freedom 250, accusing it of diverting funds and misleading sponsors.

Freedom 250 fundraising materials, first reported by The New York Times, described tiered sponsorship: Donors giving at least $500,000 were offered VIP access, invitations and preferred seating at events, according to the New York Times. A $1 million contribution came with an invitation to a private “thank you” reception hosted by Trump and a photo opportunity, the Times reported, and donors giving $2.5 million or more were offered speaking roles at a July 4 event in Washington.

For $10 million or more, companies got VIP access to all Freedom 250 events, logo rights, a tailored press release, a July 4 speaking role and a private Trump-hosted reception with a photo opportunity, according to the Times report.

Those kinds of tiered benefits are common in major event sponsorships. Watchdogs said Freedom 250 is different because some sponsors have business before the administration, the donor structure is opaque and the perks were attached to events built around Trump.

“For a million bucks, you get a meet and greet with the president, and what we’ve seen is when you get in the room with Donald Trump, it tends to be very beneficial for your business,” Matt Dallek, a political historian at George Washington University, told CNBC.

Freedom 250, America250 and the White House did not respond to multiple requests for comment.

A visitor takes a photo of a replica of the planned Triumphal Arch on the first day of the “Great American State Fair” on the National Mall on June 25, 2026 in Washington, DC.

Al Drago | Getty Images

Dual celebrations

Two separate groups have been planning celebrations for the big July 4 holiday.

The first, America250, grew out of a bipartisan commission Congress created in 2016 to plan the country’s 250th anniversary. Its work has focused on civic programming, including student contests, volunteer initiatives and events around the country.

Freedom 250 emerged after Trump returned to office and sought to put his own stamp on the anniversary. When Trump announced the effort on social media in December, he promised “the most spectacular birthday party you’ve ever seen.”

Freedom 250 and associated events have become the vehicle for some of Trump’s most touted anniversary events: the Great American State Fair on the National Mall, a model of a planned arch overlooking Washington, an IndyCar race through the capital, a UFC fight at the White House and more.

Congress set aside $150 million for the anniversary, but America250 had received only $25 million as of early June, according to a report obtained by Washington, D.C., based digital news outlet NOTUS. The Trump-aligned effort has received far more: nearly $80 million in 250th-related grants to the National Park Foundation, NOTUS first reported.

One possible explanation for why companies would back both groups, Freed and other experts said, is that America250 offered traditional patriotic branding, while Freedom 250 put sponsors closer to Trump’s preferred version of the celebration.

“If you’re a company with federal contracts, regulatory issues or merger interests, being in the room with the president can be worth far more than the sponsorship itself,” Freed told CNBC.

UFC may be the clearest example of how Freedom 250 blurred corporate money, Trump’s personal network and policy interests.

The company helped stage a Freedom 250 mixed martial arts event at the White House during Trump’s birthday weekend. UFC President Dana White, a longtime Trump ally, also sent Trump a May 11 letter asking him to reverse a provision in the “Big Beautiful Bill Act” that capped gambling-loss deductions at 90%, ESPN reported. That provision is still in effect.

UFC declined to comment on its listing on the Freedom 250 and America250 sites. CNBC did not find any evidence that UFC’s corporate sponsorship affected the government’s decisions.

Fireworks during the UFC Freedom250 fight on the South Lawn of the White House in Washington, DC, US, early on Monday, June 15, 2026.

Saul Loab | Bloomberg | Getty Images

Business rationale

Corporate money has long been part of national anniversaries.

The 1976 Bicentennial drew so much corporate sponsorship that critics derided it as the “buy-centennial.” Former President Richard Nixon, too, was accused of trying to steer the commemoration through the executive branch during the run-up to celebrations before resigning in 1974.

One high-profile Bicentennial project, the American Freedom Train was funded by five companies — Pepsi-Cola, Atlantic Richfield, General Motors, Prudential and Kraft Foods — that contributed around $5 million each in initial grants to the project, according to Ford Library records. Adjusted for inflation, that would be worth roughly $20 million.

But historians and watchdogs said Freedom 250 raises a different set of concerns because of the access-style sponsorships, opaque funding structure and the degree to which the anniversary has been built around Trump.

“There’s the America250 for everyone else, and then there’s this small shadowy organization [Freedom 250] doing essentially Trump rallies and things for Trump supporters,” Dallek said. The structure, he added, “doesn’t really play to the idea of unity very much.”

America250 publicly lists dozens of sponsors. Freedom 250 has referred to some backers as “strategic partners.” And the National Park Foundation’s president has told Congress that donors who request anonymity will not be disclosed, according to congressional Democrats.

That opacity is another part of the appeal, corporate political consultants said.

“Companies are hedging,” Freed said. “They want the safe patriotic branding of America250, but they also don’t want to be absent from the president’s preferred celebration.”

The blurred lines extend beyond corporate sponsorship.

According to NASA employee sources and materials reviewed by CNBC, a department-wide NASA email sent in June encouraged employees to shop the Freedom 250 store. The link resolved to the Trump campaign website, according to those materials.

U.S. President Donald Trump arrives to speak during a rally to kick off the Great American State Fair on the National Mall on June 24, 2026 in Washington, DC.

Andrew Harnik | Getty Images

A rocky start

The anniversary rollout has also been plagued by problems on the ground.

The Great American State Fair on the National Mall was billed as a 16-day centerpiece of the celebration. But at least eight states, most led by Democratic governors, declined to participate officially, citing exhibit costs ranging from $100,000 to $1 million and concerns about the event’s partisan tone.

The fair has also faced sparse crowds, power outages, an intermittently broken Ferris wheel and a model triumphal arch whose covering had begun to buckle, according to media reports.

Several artists, including Martina McBride, Young MC, the Commodores and Bret Michaels, pulled out after being announced or associated with Freedom 250 events. Some said they had been misled about the partisan nature of the celebration.

Trump responded by suggesting in a Truth Social post the concerts be replaced with a “MAKE AMERICA GREAT AGAIN RALLY” and later moved to headline the fair’s opening himself.

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Business

Ternium Looks Like A Bargain Despite Ongoing Economic Uncertainties

Published

10 minutes ago

3 July 2026

NewsAdmin

Ternium Looks Like A Bargain Despite Ongoing Economic Uncertainties

Business

Business improvement districts in Swansea and Cardiff win ballots for five more years

Published

18 minutes ago

3 July 2026

NewsAdmin

The BIDs secured overwhelming mandates for a further five years in their respective ballots

16:43, 03 Jul 2026Updated 16:54, 03 Jul 2026

The FOR Cardiff team celebrating the overwhelming ballot vote in favour of another five years.

Businesses in Swansea and Cardiff have voted overwhelmingly in favour of continuing their respective business improvement districts (BIDs) for a further five years.

A ballot of firms within the Cardiff BID voted 92% in favour of continuing with a 97% approval by rateable value. The new mandate also extends the borders of the BID beyond the city centre to cover Cardiff Bay – which will bring an additional £1m of levy funding for projects and services aimed at bolstering the city’s standing as a place to work, live and visit.

Its geographical extension aligns with efforts to improve connectivity between the two areas of the capital with the first phase of Cardiff Crossrail under way which will see a new tram network from Cardiff Central Station to the Bay, with plans for the next phase then reaching Atlantic Wharf with its new indoor arena at the heart of a wider mixed use regeneration project.

The new five-year term will begin in December and will continue until November 2031.

Since its establishment, FOR Cardiff has delivered a wide range of initiatives focused on improving the city environment, supporting business growth, enhancing safety and promoting Cardiff as a leading destination.

Carolyn Brownell, executive director at FOR Cardiff said: “We are delighted that businesses have once again placed their trust in FOR Cardiff and have voted in a landmark result which is testament to the hard work of the team.

“This result reflects the value businesses see in a strong, collaborative voice for Cardiff and comes at a pivotal moment as we prepare to welcome Cardiff Bay into the BID area from December. This expansion presents a unique and fantastic opportunity to bring together the city centre and waterfront, creating an even stronger and more connected business community.

“We look forward to working with businesses across the capital to deliver ambitious projects and ensure Cardiff continues to thrive.”

Manager of the Swansea BID Andrew Douglas.

Of the 955 firms in the Swansea BID ballot, 84.1% voted in fair of another five year term. Andrew Douglas, Swansea BID manager, said; “To be re-elected for a fifth consecutive term is an incredible achievement and one that everyone involved with Swansea BID is immensely proud of.

“The fact that our business community has once again placed its trust in us is a real vote of confidence in everything we’ve achieved together over the past 20 years. I’d like to thank every business that took part in the ballot and everyone who has supported Swansea BID over the years. We never take that support for granted.

“We’re excited about what lies ahead. Swansea is a city with huge ambition and enormous potential, and over the next five years we’ll continue working with businesses, Swansea Council and our partners to make the city centre an even more vibrant, welcoming and successful destination. Our focus remains on delivering real value for our levy payers while helping ensure Swansea is a brilliant place to visit, work, shop and invest.”

Over the next five years, Swansea BID said it will continue to deliver a programme of business support, city centre promotion, events, marketing, safety initiatives and environmental improvements, ensuring the city centre “remains competitive, attractive and resilient.”

Business

Slideshow: Flavor experimentation driving foodservice innovation

Published

26 minutes ago

3 July 2026

NewsAdmin

Slideshow: Flavor experimentation driving foodservice innovation

Trending flavors include global, “swicy” flavors.

Business

The Week The AI Trade Broke, And Why The Data Says 'Rotation,' Not 'Recession'

Published

32 minutes ago

3 July 2026

NewsAdmin

The Week The AI Trade Broke, And Why The Data Says 'Rotation,' Not 'Recession'

Business

Southeast Asia Eyes Eightfold CORSIA Carbon Credit Growth Amid Policy Gaps

Published

40 minutes ago

3 July 2026

NewsAdmin

Southeast Asia Eyes Eightfold CORSIA Carbon Credit Growth Amid Policy Gaps

CORSIA requires airlines to offset emissions growth via carbon credits. Southeast Asia could nearly triple its CEEU supply if governments authorize 54 pending projects across Vietnam, Thailand, and Myanmar. However, uneven Article 6 readiness and institutional capacity across ASEAN nations pose challenges to scaling high-quality carbon credit supply for CORSIA compliance.

Key Points

CORSIA requires airlines to offset CO2 emissions above 85% of 2019 baseline by purchasing carbon credits (CEEUs); Asean supplies ~7% globally, mainly clean cookstoves in Cambodia and Laos, with potential to grow eightfold to 20.8 million units if governments authorize 54 pending projects across Vietnam, Thailand, and Myanmar.
Boeing-backed report says Asean could strengthen CORSIA by expanding access to high-quality, lower-cost credits, easing rising compliance costs airlines face as credit prices tighten, while channeling climate finance regionally.
Challenges remain: uneven Article 6 readiness and institutional capacity across Asean states, with governments cautious about overselling credits and jeopardizing their own NDC targets, limiting how quickly new supply can be authorized.

CORSIA’s Emissions Offsetting Mandate

CORSIA aims to keep international aviation’s net emissions flat by requiring airlines to offset any carbon dioxide growth above 85% of 2019 baseline levels. Airlines achieve this by purchasing and cancelling CORSIA-Eligible Emissions Units (CEEUs), each representing one tonne of CO2 reduced or removed elsewhere.

More than 130 countries participate, including seven Southeast Asian nations—Cambodia, Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. This creates mandatory demand for verified carbon credits, positioning the compliance market as a critical mechanism for balancing aviation’s growing environmental footprint against measurable climate action elsewhere.

Southeast Asia’s Emerging Supply Potential

Asean could become a major supplier of high-integrity carbon offsets, according to a report backed by Boeing, GenZero, and Abatable. The region already contributes roughly 7% of global CEEU supply, with 2.6 million credits issued from four clean cookstove projects in Cambodia and Laos.

This supply could grow nearly eightfold—to 20.8 million units—if governments swiftly issue Letters of Authorization (LoAs) for 54 additional qualifying projects, including 24 in Vietnam, 11 in Thailand, and 8 in Myanmar. Boeing’s Allison Melia emphasized that clear policy guidance and government-industry collaboration are essential to unlocking this potential, especially as tightening credit markets threaten to raise airlines’ compliance costs by billions of dollars in coming decades.

Institutional Gaps and Article 6 Readiness

Despite this opportunity, CORSIA implementation poses significant challenges for Asean governments. Environment ministries face the risk of “overselling” credits, potentially undermining their own Nationally Determined Contributions (NDCs) if too many units are authorized for export through corresponding adjustments under the Paris Agreement’s Article 6 framework.

Institutional readiness varies widely across the region. Singapore, Indonesia, Thailand, Vietnam, and Cambodia have adopted Article 6 frameworks, while Malaysia’s is still developing. Laos hosts CORSIA-eligible projects without a formal framework, and the Philippines and Singapore have completed a bilateral carbon deal absent a comprehensive rulebook. Brunei, Myanmar, and Timor-Leste remain in early stages, underscoring the need for stronger regional coordination and capacity-building to fully capitalize on CORSIA-driven demand.

Source : Asean poised for US$8.5bn windfall from UN-backed airline carbon scheme

Business

Polibeli Group Shares Surge 18% on Nasdaq as AI Infrastructure Pivot Gains Momentum

Published

46 minutes ago

3 July 2026

NewsAdmin

Polibeli Group Shares Surge 13% on AI Infrastructure Pivot as

Polibeli Group Ltd. shares jumped more than 18% to close at $10.26 Thursday, extending gains as the digital supply chain company advances its strategic expansion into artificial intelligence computing infrastructure, attracting investor interest in the competitive technology sector.

The recent rally reflects growing enthusiasm around Polibeli’s pivot from its core B2B procurement platform to high-growth AI opportunities in Southeast Asia. The company, which listed on Nasdaq earlier this year, has announced several initiatives aimed at capitalizing on regional data center demand.

Polibeli’s core business provides digital supply chain services connecting small and medium-sized retailers with suppliers across Indonesia, Japan and other markets. The company offers procurement, logistics, warehousing and digital marketing solutions while dealing in consumer electronics, household goods and beauty products.

Recent strategic moves have shifted focus toward AI infrastructure. In June, Polibeli launched a review of opportunities in AI computing services, citing the global technology trend and its regional presence as key advantages for potential projects.

The company signed a non-binding memorandum of understanding to explore development of a large-scale AI computing center in Thailand, marking a concrete step toward infrastructure ambitions. While early-stage, the initiative signals commitment to diversification beyond traditional supply chain operations.

Leadership and Operational Updates

Polibeli has undergone leadership transitions in recent months, appointing Meijun Liang as chief financial officer following the resignation of a previous executive. Such changes often accompany strategic refocus in small public companies seeking to execute ambitious growth plans.

The company reported full-year 2025 financial results showing revenue of approximately $26.42 million with ongoing losses typical of growth-stage firms investing in platform development and new initiatives. Management has emphasized long-term value creation through technology expansion.

As a newly public entity, Polibeli is navigating reporting requirements and market expectations while building its AI strategy. The Nasdaq listing provides access to capital markets essential for funding infrastructure projects that require substantial investment.

AI Infrastructure Opportunity in Southeast Asia

Southeast Asia has emerged as an attractive region for data center development due to improving infrastructure, government incentives and growing digital economy demands. Countries including Thailand, Indonesia and Malaysia are actively courting technology investments.

Polibeli’s existing customer networks and regional expertise provide potential advantages in identifying and executing AI-related projects. The company aims to complement its supply chain operations with computing infrastructure services targeting enterprise clients.

Competition in the data center space is intensifying, with major players and regional operators vying for market share. Success will depend on securing partnerships, financing and technical capabilities to compete effectively.

Analysts note that while AI infrastructure offers substantial growth potential, execution risks remain high for smaller companies entering the capital-intensive sector. Polibeli’s track record in logistics and digital platforms may provide operational synergies.

Market Reaction and Volatility

The stock’s strong performance Thursday reflects momentum trading and positive sentiment around AI themes. Trading volume was elevated as retail and institutional investors repositioned around the company’s strategic announcements.

Polibeli shares have shown significant volatility since listing, typical of small-cap technology companies with evolving business models. The recent surge has pushed the market capitalization into mid-cap territory, though valuation metrics remain elevated given current financials.

Investors are betting on successful execution of the AI pivot while acknowledging near-term challenges including integration costs and competition. Short-term price action may continue reflecting news flow and market sentiment.

Broader Context for Small-Cap Tech Stocks

Small technology companies pursuing AI opportunities have captured significant investor attention amid broader sector enthusiasm. SPAC mergers and direct listings have provided pathways to public markets for many emerging firms.

Polibeli’s transition demonstrates how established regional businesses can reposition for growth in high-potential technologies. Similar stories have played out across various sectors as companies seek to capitalize on artificial intelligence trends.

Regulatory considerations for data centers include energy consumption, environmental impact and data sovereignty requirements. Southeast Asian governments are balancing development incentives with sustainability goals.

The company’s cosmetic and wellness products, including milk-derived exosome essences and plant extracts, provide some revenue diversification while research services in cell technologies support longer-term innovation.

Outlook and Strategic Priorities

Management has outlined plans to leverage existing strengths in technology and regional presence to build AI capabilities. Capital raised through the public listing will support project development and potential acquisitions.

Upcoming financial reports will provide updates on integration progress and early AI initiative performance. Investors will scrutinize cash burn rates, partnership announcements and regulatory milestones.

The biotechnology and regenerative medicine aspects of Polibeli’s portfolio, including research into armed T-cells and exosomes, offer additional growth avenues complementing the AI infrastructure focus.

As a Cayman Islands holding company with operations in Taiwan and Southeast Asia, Polibeli navigates cross-border regulatory environments. Compliance with Nasdaq listing standards and U.S. reporting requirements adds operational complexity.

Long-term success will depend on translating strategic vision into revenue-generating projects while managing execution risks inherent in capital-intensive technology deployments. The company’s diversified approach may provide resilience across economic cycles.

Polibeli’s Nasdaq performance highlights continued market appetite for innovative technology stories in emerging markets. As the company advances its initiatives, stakeholder attention will focus on milestones demonstrating progress toward sustainable growth and profitability.

Business

Burnham signals tax movement with business rates cut for pubs & high street firms

Published

59 minutes ago

3 July 2026

NewsAdmin

Burnham signals tax movement with business rates cut for pubs & high street firms

Andy Burnham, the man expected to walk into Downing Street later this month, has told business owners there is “some room” for movement on tax, signalling a rebalancing of the business rates system away from the high street and towards the vast warehouses of the online giants.

In his first broadcast interview since launching his bid to become prime minister, the newly elected Makerfield MP told LBC’s Andrew Marr that pubs, clubs and music venues would receive a 20 per cent cut in business rates under his plans, while smaller independent hospitality, leisure and retail firms would see the threshold for paying rates raised for the first time since 2017.

The cost, he said, would be met by higher levies on the giant distribution sheds operated by online retailers such as Amazon, alongside measures targeting the owners of empty high street properties, a formula that will be welcomed by the three pubs and restaurants closing every day under the weight of rising costs and tax increases.

Crucially for firms planning ahead of the autumn Budget, Burnham insisted he would honour Labour’s 2024 manifesto pledges not to raise VAT, income tax or national insurance. “I stick by the manifesto and the promises that it made,” he said. “So, let me be absolutely clear about that, but there is some room within that manifesto for movement on tax.”

The intervention comes at a delicate moment for the sector. From April 2026, the government replaced retail, hospitality and leisure relief with permanently lower business rates multipliers for qualifying properties, yet UKHospitality has warned that the 2026 revaluation still leaves many operators facing sharply higher bills. Any further relief funded by warehouse levies would mark a significant redistribution of the tax burden.

Burnham was also at pains to shore up his economic credibility, an issue that matters to the eight in ten SME owners who say they fear what a Burnham premiership would mean for their business. He has previously drawn criticism for suggesting the UK had “got to get beyond this thing of being in hock to the bond markets”, and some on the left of the Labour Party want borrowing rules relaxed to fund higher public spending.

Pressed on the point, Burnham insisted he would not be “indisciplined” with the public finances, pointing to Greater Manchester’s “rock solid” books during his time as mayor and his earlier stint as a Treasury minister in the last Labour government.

The bigger fiscal headache awaiting him is defence. Sir Keir Starmer this week announced a £15bn increase in defence spending without fully explaining where the money would come from, leaving whoever Burnham appoints as chancellor to find at least £4.7bn in savings from other departments at their first Budget this autumn.

“I wasn’t in all of the discussions, but to be fair, the government had had an internal process ongoing,” Burnham said. “What I can say to you tonight is I will take my responsibilities fully to fund the defence investment plan, if I am in the position to do so.”

Conservative leader Kemi Badenoch has accused Sir Keir of “leaving this mess to his successor” and argued the shortfall should be bridged by cutting the welfare bill rather than new taxes. Burnham, for his part, ruled out “crude cuts to benefit levels that just put people who are struggling in even worse poverty”, saying he would instead reduce the benefits bill through better technical education, work placements for 16 year olds and mental health support for those in work.

Burnham remains the only candidate to replace Sir Keir as Labour leader and is expected to become prime minister on 20 July. He has yet to name his chancellor, amid speculation the role could go to Ed Miliband, and his backing among parts of the sector is already building, with the night time industries body throwing its weight behind his push for a hospitality VAT cut.

For SME owners, the message from the presumptive prime minister is a familiar political balancing act: no movement on the big three taxes, but a clear signal that the way business property is taxed is about to change, with the high street the intended winner and the warehouse the intended payer.

Business

Here’s which stores, restaurants are open, closed on July 4

Published

1 hour ago

3 July 2026

NewsAdmin

Here's which stores, restaurants are open, closed on July 4

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As Americans gear up to celebrate America’s 250th birthday, many major retailers and restaurants will stay open, close or operate with reduced hours on July 4.

Big-box and grocery stores, including Sam’s Club and Kroger, and several restaurants, including Olive Garden and Taco Bell, will stay open on the holiday. Other chains, including McDonald’s and Whole Foods, will remain open with adjusted operating hours.

Take a look at which major U.S. retailers will stay open for last-minute shopping runs, and which ones will stay closed:

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Costco

The iconic warehouse chain will close on July 4. (Justin Sullivan/Getty Images)

The warehouse chain will be closed for the July 4 holiday, according to their official website.

Target

Target stores are open during regular hours, but customers are encouraged to check with their local store to confirm hours, the company said in a statement.

Walmart

Walmart stores are open with normal operating hours, the company told FOX Business.

Kroger

Kroger stores will be open, but pharmacy and clinic hours may vary, according to the chain’s website.

Sam’s Club

The Costco competitor, Sam’s Club, will be open with normal operating hours, a spokesperson told FOX Business.

Whole Foods

Whole Foods will be open but close early, according to a statement provided to FOX Business.

“On July 4th, most Whole Foods Market stores will open at their regular time and close early, at 6:00 p.m., with a few exceptions,” the statement read.

Trader Joe’s

Trader Joe’s stores will remain open until 5 p.m. local time on July 4. (Trader Joe’s)

All Trader Joe’s locations will be open until 5 p.m. local time, according to the company’s website.

Dollar General

Dollar General will be open during their regular hours, which may vary by location, the company said in a statement.

Kohl’s

All Kohl’s stores will be open from 9 a.m. until 7 p.m. local time, but store hours may vary by location, according to a statement provided by the company.

Macy’s

Macy’s stores will remain open on July 3 and 4, but hours may vary by location, according to a statement provided by the company.

Home Depot

Home Depot will be open and close at 8 p.m. local time, according to the company’s website.

CVS

CVS, a partner of America250, will be open. (Zak Bennett/Bloomberg via Getty Images / Getty Images)

CVS locations will be open, though some locations will operate at reduced hours, according to the company’s website.

CVS is also partnering with America250 to play a role during celebrations in major cities like New York, Los Angeles and Boston, while maintaining a presence during parades and block parties in smaller markets.

Walgreens

Walgreens stores will operate under their regular business hours, according to a statement on the company’s website.

“Unlike previous years – when stores remained open, but most pharmacies were closed – Walgreens will keep more than 4,000 pharmacy locations open,” the company said. “This expanded availability enhances timely access to prescriptions, over-the-counter treatments, and onsite pharmacist support when patients need it most.”

Burger King

Burger King hours will vary by franchise location, according to a statement provided to FOX Business. The company encourages guests to confirm their location’s hours in person, online or through the Burger King app.

Chick-fil-A

U.S. Chick-fil-A restaurants are open on July 4, according to the company’s official website.

Chipotle

Most U.S. Chipotle locations will close at 3 p.m. local time, according to a statement provided to FOX Business.

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Dunkin’

Dunkin’ will be open on normal operating hours. (Drew Singh/Newsday RM via Getty Images / Getty Images)

Dunkin’ will keep America running on the 4th as stores will be open during normal operating hours, according to a statement the coffee chain provided to FOX Business.

KFC

KFC encourages customers to check with their local locations for updated hours, according to a KFC spokesperson.

McDonald’s

Most McDonald’s locations are open on U.S. holidays, but hours may vary by location, according to a statement provided to FOX Business.

Popeyes

Popeyes locations are expected to be open, the company told FOX Business.

“Since restaurant hours are set at the local level, guests should check the Popeyes Restaurant Locator at Popeyes.com or their preferred delivery platform for the most up-to-date hours before visiting,” Popeyes said.

Starbucks

Starbucks hours may vary by location. (Mostafa Bassim/Anadolu via Getty Images)

Starbucks hours may vary by location, and the coffeehouse chain encourages customers to check with their local store for updated hours, a spokesperson for the company said.

“Coffeehouse hours vary by location, and they may occasionally adjust their hours based on business and customer needs,” the statement said. “The Starbucks app continues to be the best way for customers to find a coffeehouse, check hours, order ahead and pay.”

Taco Bell

Taco Bell will remain open on the Fourth of July, according to the company’s website.

Wendy’s

Many Wendy’s locations will be open, but the company encourages customers to check with their local restaurant as hours may vary by location, according to a statement provided by the company.

Applebee’s

Some Applebee’s locations will be open, though customers are encouraged to check with their local franchise for hours, the company said in a statement to FOX Business.

“Select Applebee’s restaurants nationwide will be open on July 4th, although hours may vary. Please contact your local Applebee’s for specific information on holiday hours as each restaurant is independently owned and operated and hours vary by location,” the company’s statement read.

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Olive Garden

Olive Garden restaurants will remain open. (Scott Olson/Getty Images / Getty Images)

Olive Garden restaurants will be fully open with no change in operating hours, a spokesperson for the chain’s parent company, Darden, said in a statement.