Asian Stocks Mixed as South Korea Slides on Profit-Taking, Japan and China Gain on Strong Factory Data 
US Resumes Dollar Shipments to Iraq After Months-Long Suspension 
Morgan Stanley Names BAE Systems Top European Defence Stock Despite Lower Price Target 
Trump Administration to Launch Voluntary AI Standards for Frontier Models 
Asian Currencies Slip as Dollar Holds Firm, Yen Near Four-Decade Low Ahead of Fed, Jobs Data 
Central Banks Eye Gold, Reduce Dollar Exposure as AI Adoption Accelerates: OMFIF Survey 
Meta Stock Jumps as AI Cloud Expansion Challenges AWS, Microsoft, and Google 
US Dollar Rises as Fed Rate Outlook Stays Hawkish, Euro Slips and Yen Near 40-Year Low 
Chip Stocks Rally as Samsung and SK Hynix’s $1.3 Trillion Investment Plan Boosts AI Optimism 
Switch Seeks $2 Billion Funding at Nearly $50 Billion Valuation Ahead of Potential IPO 
Northern Star Appoints New CEO as Activist Elliott Pushes for Leadership Overhaul 
Gold Price Hits Annual Low as Fed Rate Hike Bets and Sticky Inflation Weigh on Bullion 
UN Chief Urges Nations to Close $100 Million UNRWA Funding Gap 
Apple Expands iPhone Lineup, Boosts Foldable iPhone Production Plans Through 2027 
Trump Reports $1.4 Billion in Crypto Income as Digital Assets Become Top Wealth Source 
Buffett Delays Gates Foundation Donation Pending Epstein Ties Review 
Gold Price Holds Above $4,000 as Fed Rate Hike Expectations and U.S. Jobs Data Weigh on Market 
Mattel and Elon Musk’s SpaceX company have struck an unlikely partnership deal, and this was confirmed by the companies on Wednesday, July 20. They have signed a multi-year agreement to form a new line of toys and create space-themed items for selling.
According to CNBC, while the deal is confirmed, the financial terms were not disclosed to the public. Mattel said it is expecting to start releasing its new SpaceX toy line sometime next year.
It was noted that Mattel and SpaceX’s partnership was announced before the anniversary of man’s first landing on the surface of the moon in 1969. While SpaceX has already been selling merchandise through its website, the items being offered only consist of t-shirts, bags, hats, jackets, and accessories so this is the first time that the spacecraft engineering company is selling toys.
Through Mattel, a leading toy manufacturer, SpaceX can now expand its merchandise offerings and introduce items such as plushies, building sets, and dolls. The companies are expecting to attract not only the kids but collectors as well. They especially see the collectors’ market as more lucrative because it was one of the biggest customer bases of Mattel and Hasbro.
“We take pride in our ability to create products and experiences that honor cultural moments and inspire humankind,” Mattel’s senior vice president of entertainment partnerships, Nick Karamanos, said in a press release. “As space exploration advances more quickly than ever before, we are thrilled to work with SpaceX and help spark limitless play patterns for the space explorer in every kid.”
SpaceX’s vice president, Brian Bjelde, further said, “At SpaceX, we believe that a future in which humanity is out among the stars is fundamentally more exciting than one in which we are not. We look forward to working with Mattel to help inspire the next generation of space explorers and enthusiasts."
Meanwhile, this may be SpaceX’s first venture into toys, but it is not for its CEO, as Elon Musk also teamed up with Mattel in 2020 to create the remote-controlled toy version of Tesla’s Cybertruck. The toymaker’s latest deal with Musk comes several months after it sent two Barbie dolls into space as part of a collaboration with the International Space Station National Lab to encourage ladies to take up engineering and other careers in the aerospace field.
