GMT EIGHT - Commercial - Company&Products

Apple Eyes Indian Silicon: A Strategic Shift in iPhone Component Assembly

Apple is reportedly negotiating with Indian chipmakers like CG Semi to assemble iPhone components in Gujarat. This historic shift aims to produce most U.S.-bound iPhones in India by 2026. By leveraging India’s lower 26% tariff rate, Apple seeks to reduce its reliance on China amid heightening trade tensions.

French AI Lab Mistral Releases New Models To Keep Pace With OpenAI And Google

Mistral has unveiled a new suite of AI models, including a large multimodal system and a smaller model designed for robotics and devices, as it seeks to compete with global leaders like Google and OpenAI.

Runway Unveils New AI Video Model Gen 4.5 That Surpasses Google And OpenAI In Key Benchmark

Runway has introduced its new AI video model, Gen 4.5, which surpassed Google’s Veo 3 and OpenAI’s Sora 2 Pro in independent benchmarking.

Leadership Stability Returns: Kohl's Names Michael Bender Permanent CEO Amid Turnaround Push

Kohl’s has named interim chief Michael Bender as its permanent CEO, effective Sunday, to stabilize leadership following the recent firing of Ashley Buchanan and an extended period of sales decline. Bender, the fourth CEO in as many years, brings three decades of retail experience. His mandate is to accelerate the turnaround strategy, which includes improving product assortment and value. The announcement precedes the retailer’s third-quarter earnings report.

Baidu Unveils Next-Generation AI Processors to Strengthen China’s Tech Independence

Baidu has unveiled new AI chips and supercomputing systems aimed at boosting China’s self-reliance in advanced computing amid U.S. export restrictions on high-end semiconductors.

E-Commerce Showdown: Amazon Sues Startup Perplexity Over AI Shopping Agent Access

Amazon has sued Perplexity AI over its Comet shopping agent making purchases on the marketplace without transparency, violating terms of service. Amazon claims the agent degrades the customer experience and poses fraud risks. Perplexity, valued at about $20 billion, calls the lawsuit a "bully tactic" designed to protect Amazon’s lucrative ad business from rival AI tools. The legal clash is a key early test for the regulation of autonomous agentic AI.

Airtel-IBM Alliance: Cloud Footprint Set to Triple with AI-Ready Infrastructure for Indian Enterprises

Bharti Airtel and IBM have partnered to integrate IBM’s AI-ready services into Airtel Cloud, targeting regulated industries like banking. The deal expands Airtel’s cloud availability zones from four to ten and will establish two new Multizone Regions (MZRs) in Mumbai and Chennai. This move aims to meet rising Indian demand for AI infrastructure, data residency compliance, and modernizing enterprise workloads.

Harvey CEO: The AI Revolution Will Make Junior Lawyers Outpace Senior Partners

Harvey CEO Winston Weinberg is betting on junior lawyers, asserting that those raised on AI will outperform senior partners in a decade. He sees AI as vital for training, not replacement. The $5 billion startup, whose platform is valued by junior staff at PwC, is committed to hiring young talent as it expands globally, recently opening a Sydney office.

Ascletis’ ASC47 aims to amplify semaglutide’s weight-loss effect

Ascletis Pharma reported early human data indicating its long-acting obesity drug candidate ASC47 can enhance the weight-loss effect of semaglutide while improving tolerability. In a small U.S. study of 28 adults with obesity, a four-week course of ASC47 plus semaglutide produced a 56.2 per cent greater relative reduction in body weight versus semaglutide alone, with markedly lower rates of vomiting.

Tencent backs Chinese AI chips as mainland trims reliance on Nvidia

Tencent Cloud said it has “fully adapted to mainstream domestic chips” across its AI computing infrastructure, adding momentum to China’s push to reduce dependence on Nvidia under U.S. export controls. The pledge, delivered by Tencent Cloud president Qiu Yuepeng at the company’s Global Digital Ecosystem Summit, aligns with a broader industry effort that includes a model-chip alliance formed in July and start-ups tailoring models for coming “home-grown” accelerators.

Novo Nordisk Shares Surge on Promising Results from Oral Wegovy Trial

Novo Nordisk (NOVO-B.CO) rose by 5.4% as of the time of publication, following phase 3 trial results showing its oral semaglutide pill achieved 16.6% average weight loss over 64 weeks, matching the efficacy of its Wegovy injection.

Alibaba’s next-gen Qwen3 pushes open-source AI forward with big gains in power and cost

Alibaba Cloud unveiled a new open-source model built on its Qwen3-Next architecture, saying a leading variant delivers up to 10-times the performance at roughly one-tenth the training cost versus its predecessor. The 80-billion-parameter Qwen3-Next-80B-A3B is positioned to match the firm’s larger flagship on key tasks while being efficient enough to deploy more broadly, underscoring intensifying AI competition in China.

AI agents are set to become a company’s basic unit, says Lee Kai-fu

Computer scientist and 01.AI founder Lee Kai-fu told a UBS summit that AI agents are poised to replace humans as the “basic unit” of a company. He argued that agents can be replicated, scaled and orchestrated like “Lego blocks,” enabling CEOs to assemble organizations as modular, continuously running systems - reshaping how work is structured across functions.

Alphabet Secures $10 Billion Meta Cloud Deal, Strengthening Its AI Leadership

Alphabet’s $10 billion cloud deal with Meta highlights Google Cloud’s growing role in AI infrastructure. The agreement provides long-term revenue visibility, validates Alphabet’s AI-first strategy, and strengthens its competitive position in a multicloud landscape.

OpenAI Eyes India for Gigawatt-Scale AI Hub, Signaling Major Asia Push

OpenAI is reportedly planning a data center in India with a capacity of at least 1 gigawatt, a key part of its global "Stargate" initiative. This move highlights the country's strategic importance as OpenAI’s second-largest user base, and the project could be announced during CEO Sam Altman's September visit.

China’s Yadea Expands into Thailand to Challenge Honda in Electric Two-Wheeler Market

Yadea, the world’s largest two-wheeler maker, has launched production in Thailand with plans to scale output and undercut rivals like Honda, marking a major step in its push to replicate BYD’s overseas success.

Pop Mart CEO Wang Ning Surges into Global Billionaire Elite on Labubu Doll Craze

Fueled by soaring demand for Labubu dolls, Pop Mart’s Wang Ning has tripled his fortune in 2025 to $26.5 billion, surpassing prominent tech and auto moguls on the global billionaire rankings.

ByteDance Soars Past Meta: New Buyback Program Values TikTok's Parent at Over $330 Billion

ByteDance, TikTok's parent, is now valued at over $330 billion, fueled by strong revenue growth that has made it the world's largest social media company by sales. Despite its financial strength and a new employee buyback program, its valuation remains far below Meta's due to ongoing regulatory pressures in the U.S. over its Chinese ownership.

Temu and Shein Impacted as U.S. Ends “De Minimis” Exemption

Temu and Shein saw a decline in U.S. user activity as of the time of publication, with July transactions down 28% and 14% year-over-year, following President Trump’s order to end the de minimis tax exemption for parcels under USD 800.

OpenAI Accelerates Work on GPT-6 With Focus on Memory and Personalization

Sam Altman revealed that GPT-6 is already in development and will arrive sooner than past upgrades, with new features centered on memory, personalization, and stronger privacy protections, signaling a pivotal shift in OpenAI’s product strategy.

Perplexity's Bold $34.5 Billion Bid for Google Chrome Amidst Antitrust Lawsuit

Perplexity has made an unexpected $34.5 billion offer to acquire Google's Chrome browser, a move that comes as the U.S. Department of Justice is pushing for Google to divest the browser as a remedy in an ongoing antitrust case.

Unpacking the ChatGPT-5 Launch: A Mix of Innovation and Controversy

OpenAI’s ChatGPT-5 launch was a mix of significant advancements and user backlash. While it offers better reasoning and reduced errors, its blunt conversational style and high energy consumption have drawn criticism. The model faces strong competition from rivals excelling in areas like coding and video analysis, highlighting that the race for AI dominance is still intensely competitive.

HD Hyundai Bets on Robots and Foreign Talent to Retake the Shipbuilding Crown

HD Hyundai’s push to reclaim shipbuilding leadership is resting on two levers: people and productivity. The South Korean giant is importing skilled foreign labor to relieve a tight domestic workforce while accelerating factory-floor automation, from welding robots to AI-assisted planning, to raise throughput on high-value vessels such as LNG carriers and alternative-fuel ships.

SoftBank's AI Vision and PayPay's U.S. IPO Plans Highlight Strategic Shift

SoftBank is doubling down on artificial intelligence, led by founder Masayoshi Son's long-term vision. The company is investing in key AI players like Arm and OpenAI while planning a U.S. IPO for its Japanese payments app, PayPay. This listing, potentially raising more than $2 billion, will follow Arm's successful debut and aims to generate capital to fuel SoftBank's future AI-focused ambitions.

Meta Raises Over $2 Billion to Fund AI Data Centers

Meta is selling over $2 billion in assets to bring in external partners and fund its massive data center expansion for artificial intelligence development.

TSMC Accelerates U.S. 2nm Chip Production Amid Strategic Shifts and Trade Pressures

TSMC is reportedly accelerating its plan to produce advanced 2-nanometer chips in Arizona by 2026, two years ahead of schedule, to address new tariffs and better serve its major U.S. customers.

Alibaba Maps Gets AI Upgrade with Qwen-Powered Agent

Alibaba has rolled out a major AI upgrade to its mapping app, integrating its Qwen large language model (LLM) to offer more intuitive navigation and real-time contextual guidance. This move reflects the company's ambition to leverage generative AI not only in e-commerce but also in its wider digital ecosystem, competing with players like Baidu Maps and Amap in China's evolving smart mobility sector.

5 Formidable Obstacles Hindering XRP's Ascent to $5 in 2025

Despite significant rallies and optimistic analyst predictions for XRP to reach $5, its path is challenged by banks not being required to use XRP, slow adoption rates compared to established systems, the existence of potentially superior alternative payment solutions, XRP's lack of independent value beyond its intermediary role, and the broader cryptocurrency market's strong correlation with an overvalued stock market.

Unpacking Apple's Valuation: Why Its Stock Rose 9 Times While iPhone Sales Remained Flat for a Decade

Apple's significant stock growth, despite flat iPhone sales, is primarily driven by its high-margin services division, which now faces substantial threats from regulatory challenges to its App Store fees and the potential invalidation of its lucrative search engine deal with Google.

Microsoft's AI Juggernaut: Soaring Cloud Growth and Bullish Investor Outlook for Q4 Earnings

Microsoft is poised for a strong fiscal fourth quarter, with Wall Street anticipating robust growth driven by its AI and cloud businesses. Despite significant investments in AI infrastructure, analysts remain highly optimistic, projecting increased revenue and earnings per share, fueled by strong demand for Azure and the promising potential of Copilot.

Barclays Posts 23% Profit Surge Amid Trade-Driven Trading Boom

Barclays PLC reported a 23% year-over-year rise in pre-tax profit for H1 2025, reaching £5.2 billion, driven by strong trading revenue amid U.S. tariff-driven market volatility. The bank announced a £1 billion share buyback and raised its interim dividend by 21%. Investment banking, especially fixed income and equities trading, led the gains.

Apple Closes Dalian Store Amidst Shifting China Market Dynamics

Apple is closing its Dalian, China store, marking its first retail exit in the country, a move reflecting increasing market pressures and broader economic shifts in China, despite the company's continued expansion elsewhere in the region and efforts to diversify its global supply chain.

AstraZeneca's Strong Momentum: Clinical Success and Strategic U.S. Expansion

AstraZeneca reported strong Q2 financial results, driven by robust drug sales and positive Phase 3 trial data for Gefurulimab. The company is investing $50 billion in U.S. manufacturing by 2030 to bolster its presence amidst new trade policies. Maintaining its financial outlook, AstraZeneca aims for $80 billion in annual revenue by 2030, emphasizing pipeline innovation and strategic U.S. growth.

Volkswagen's Profit Outlook Slashed by Mounting Tariff Costs

Volkswagen has significantly lowered its 2025 financial guidance, primarily due to a substantial $1.5 billion tariff impact in the first half of the year. Operating profit and sales forecasts have been cut amid ongoing trade tensions, restructuring costs, and a strategic shift towards lower-margin electric vehicles, creating a challenging landscape for the automotive giant.

Puma Faces Bleak Outlook: Tariffs and Weak Sales to Drive 2025 Loss

Sportswear brand Puma has drastically revised its 2025 financial forecasts, now anticipating a full-year loss. This downturn is primarily attributed to weaker-than-expected sales, especially in North America and Europe, compounded by a projected 80 million euro impact on gross profit from U.S. tariffs. Shares have plummeted as the company grapples with sector-wide and brand-specific challenges.

Intel's Crossroads: AI Ambitions Clash with Foundry Challenges as Q2 Earnings Loom

Intel faces a pivotal Q2 earnings report amidst challenges in its chipmaking turnaround, including reliance on TSMC and unprofitable foundry operations. While AI ambitions are high, competition and economic headwinds persist. Simultaneously, new home sales are projected to rise, though mortgage rates remain elevated, influencing the broader market outlook.

Amazon Closes Shanghai AI Lab Amid Rising Geopolitical Tensions

Amazon has reportedly shut down its Shanghai AI research lab, joining other U.S. tech companies in scaling back Chinese operations. This move reflects escalating U.S.-China geopolitical tensions and broader global staff reductions. The closure impacts a lab that contributed significantly to AI research and sales, highlighting challenges for international tech collaboration in China.

PayPal Unveils "PayPal World": A New Era for Global Payments Connecting Billions

PayPal's new "PayPal World" platform will simplify cross-border payments for nearly two billion users globally. Partnering with India's UPI, China's Tenpay Global (Weixin Pay), and Latin America's Mercado Pago, it allows seamless international transactions using local digital wallets. Businesses gain access to a vast consumer base without added integration, poised to revolutionize global commerce starting this fall.

MEI Pharma Makes Historic Move With $100M Litecoin Treasury Strategy

In a first for public markets, MEI Pharma has committed $100 million of treasury reserves into Litecoin, marking a groundbreaking crypto allocation for a Nasdaq-listed biotech firm. The decision signals a broader trend of corporate crypto adoption extending beyond Bitcoin and Ethereum and raises questions about strategic rationale, investor alignment, and asset volatility.

BP Appoints Former CRH CEO Albert Manifold as Chairman in Strategic Overhaul

BP (BP.L) has appointed Albert Manifold, former chief executive of CRH (CRH.N), as its next chairman, signaling a shift in strategic direction as the company faces investor scrutiny over underperformance and transition challenges. Manifold will take over from Helge Lund in October amid ongoing speculation of potential structural changes.

Meta Recruits Two Senior Apple AI Engineers Following Major Talent Acquisition

Meta's Superintelligence Labs just added two more former Apple engineers, weeks after landing the head of Apple's LLM team. As Apple weighs its AI strategy, Meta is using bold recruiting tactics to tip the scales in the race for AI dominance.

Burberry's Resilience Shines: Sales Decline Narrows, Turnaround Takes Hold

Burberry shows early recovery signs as first-quarter retail sales declined by a modest 1%, surpassing analyst forecasts. CEO Josh Schulman's turnaround strategy, focusing on simplification and core categories, is yielding positive results in Europe and the Americas, despite softness in Asia. The luxury brand remains confident in achieving sustainable, profitable growth amidst challenging market conditions.

Mizuho’s Underperform Call on Circle Signals Caution in Crypto Infrastructure

Mizuho has initiated coverage on Circle Internet Group with an Underperform rating and set a $85 price target, signaling caution about revenue growth prospects. Despite Circle's role in crypto-related payments and stablecoin services, Mizuho’s findings suggest that investor expectations may be too optimistic and that further downside remains if macroeconomic and industry headwinds persist.

From Iron Ore to Global Chief: Simon Trott Takes Rio Tinto Helm Amid Merger Buzz and Market Highs

Rio Tinto has appointed iron ore head Simon Trott as its new CEO, effective August 25. An internal veteran, his selection signals a strategic pivot towards operational discipline and cost control. The move occurs amid market highs and renews speculation about a potential mega-merger with Glencore.

Jamie Dimon Shifts Talent Dynamics by Calling Out Private Equity

JPMorgan CEO Jamie Dimon has taken a decisive stance against private equity firms recruiting junior bankers for future-dated roles, labeling the practice "unethical" and leading to a swift industry response. His public rebuke prompted major firms like Apollo Global Management and General Atlantic to halt this tactic, reshaping the talent landscape on Wall Street. JPMorgan’s enforcement measures, including threats of termination, underscore how far a powerful voice can influence hiring norms in finance.

Amazon Intensifies AI and Space Race with Multi-Billion Dollar Bets

Amazon is reportedly deepening its AI commitment with a significant new investment in Anthropic, building on an existing $8 billion stake. This move aims to strengthen its competitive position against rivals like Microsoft and Google in the AI landscape. Concurrently, Amazon's Project Kuiper is advancing in the satellite internet sector, posing a challenge to SpaceX.

Merck Forges Ahead: HIV Research Breakthroughs and Strategic Acquisitions Signal Future Growth

Merck is making significant advancements in HIV research, with new data on novel treatments and prevention methods. Concurrently, the company is nearing a $10 billion acquisition of Verona Pharma, securing the promising COPD drug Ohtuvayre. These strategic moves aim to diversify Merck's portfolio, mitigate upcoming patent expirations, and bolster long-term growth, reflected in positive stock performance and analyst price targets.

Apple Appeals "Unprecedented" EU Fine, Igniting Global Tech Policy Clash

Executive Summary: Apple Inc. is challenging the EU's €500 million fine and mandated App Store changes, arguing they are unlawful and confusing. This appeal highlights a growing regulatory divide between the EU and US, with app store economics remaining central to ongoing battles over platform control and fair competition.

Is Apple stock regaining investor confidence?

Apple stock is gaining favor among investors, fueled by optimism for boosted iPhone sales due to an expedited Siri upgrade and a recent analyst upgrade from Jefferies based on strong initial June quarter sales. Despite concerns about tariffs and services revenue, Apple's stock has cut its year-to-date losses to about 17%.

Mounjaro: Safety Profile and Efficacy for Weight Management

Mounjaro, an injectable medication, has demonstrated safety and effectiveness for weight loss when properly prescribed. Approved after extensive trials, it aids weight reduction by influencing appetite and blood sugar. While generally well-tolerated, potential side effects and specific contraindications necessitate medical oversight, particularly regarding long-term use and interactions.

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