A Bubble Tea IPO Freeze, and a Revenue-less Drug Maker

China's securities regulator puts the brakes on new bubble tea IPOs in Hong Kong. Is this China's latest step to assert its authority over the former British colony? And former drug making highflyer Ascletis has become revenue-less after its earlier drugs fizzled. Now the company is hoping to revive its fortunes with a new weight-loss drug from the same class as Ozempic.