Goldman Sachs raised year-end ARR projections for Zhipu AI and MiniMax to US$2.5 billion and US$1 billion respectively, citing intense competition and new model releases in China's AI market.
President Trump demanded oil companies, including Chevron, lower gasoline prices for American consumers, criticizing them for not crediting his administration. This comes as he faces pressure over rising costs due to the US-Israel war on Iran, ahead of midterm elections.
Sydney's largest toll road operator, Transurban, will continue annual toll increases of at least 4% despite the NSW government's $850m deal for limited toll cuts on a few motorways, with the premier citing Transurban's resistance to broader reforms.
Commercial LPG cylinder prices have been reduced by Rs 202 in Delhi (to Rs 2,728) and Rs 209 in Kolkata (to Rs 2,872.50) for 19-kg cylinders, effective August 1, providing relief to LPG-dependent businesses like restaurants and hotels.
China's carmakers are struggling with narrowing profit margins due to higher raw material costs and declining market demand, exacerbated by the end of purchase subsidies and tax incentives.
Former San Antonio Spurs star Tony Parker's 53-acre Texas mansion, featuring an extravagant private water park and luxury amenities, has received another price cut to $11 million, nearly five years after first hitting the market.
Mortgage rates continued their climb last week, with the 30-year fixed rate reaching 6.69%, the highest since last August. Despite this, total mortgage demand increased by 1.9% as homebuyers returned to the market, possibly due to less competition and price cuts, while refinance demand fell.
The Moto G54 budget smartphone, launched last year, has received a significant price cut in India. The 8GB variant is now Rs 13,999, and the 12GB variant is Rs 15,999, featuring an FHD+ 120Hz display, MediaTek Dimensity chipset, and a 50MP main camera.
De Beers' decision to cut diamond prices is viewed as a market capitulation, potentially setting a benchmark for further industry-wide price declines and pressuring Alrosa, despite sanctions limiting Alrosa's direct sales to Western markets. Experts cite falling demand for traditional diamonds, rising synthetic stone production, and a crisis in India's diamond-cutting industry as key factors.
The US housing market is moving towards a more balanced state, with 44% of agents reporting a balanced market in Q2, up from 30% last year. Buyers are regaining leverage due to increased supply and more realistic pricing from sellers, though high mortgage rates remain a concern.
Saudi Arabia has slashed the August price of its flagship Arab Light crude for Asian customers by $11 per barrel, the largest reduction in over 20 years. This move reflects weakening demand, improved supply conditions post-Middle East tensions, and increased competition.
Kobo's Libra Colour e-reader, recently priced at $259.99, is now available for $229.99 at Best Buy and Target. This deal makes it a strong alternative to Amazon's Kindle, offering a color display, waterproofing, physical page-turning buttons, and greater file format support.
BSH Home Appliances, a German giant, is entering India's mass market for the first time globally. By partnering with local manufacturers and reducing prices by up to 20%, the company aims to capture a larger share of this crucial segment, introducing over 350 new models.
OpenAI is reportedly considering substantial price reductions for its AI services to compete with rivals like Anthropic. The company is also preparing for a potential IPO, following a similar move by Anthropic.
OpenAI is reportedly considering significant price reductions for its AI services to compete with rival Anthropic. The move comes as Anthropic's 'Claude Code' gains traction among software engineers, surpassing OpenAI in recent valuation. Both companies are facing high operational costs and potential financial risks from aggressive pricing strategies.
Chinese AI company DeepSeek has significantly cut the price of its V4 Pro model, aiming to compete globally on cost-efficiency rather than cutting-edge capabilities. This move positions the model as a leader in value for money, according to benchmark firm Artificial Analysis, amidst a global compute supply crunch.
Walmart plans to use tariff refunds to lower store prices, citing shopper anxiety over rising fuel costs. CFO John David Rainey noted a "stress" indicator as customers buy less gas, with lower-income consumers being more budget-conscious.
Hong Kong’s smaller grocers are bracing for pressure amid a fresh wave of price cuts by supermarkets and big retail chains, but some economists say their “neighbourhood connection” could help them stay afloat. A lawmaker also said it was unlikely the big local chains would monopolise the market citing strong competition from online shopping platforms. The latest price war erupted ahead of Mother’s Day on Sunday, with CK Hutchison-backed ParknShop and Jardine Matheson’s Wellcome each offering 12...
DeepSeek has begun limited beta testing of its new image recognition function, announced by multimodal team leader Chen Xiaokang on Wednesday. The feature is available on the company's chatbot website and mobile app, adding to existing "expert" and "flash" chat modes introduced earlier this month. The release comes days after DeepSeek unveiled its V4 flagship model followed by extensive price cuts. The Hangzhou-based startup, which gained international recognition in January 2025 for its cost-effective reasoning model, has faced criticism for lacking multimodal capabilities despite its rapid growth.
Chinese artificial intelligence start-up DeepSeek has added multimodal capabilities to its flagship chatbot for the first time – meaning that it can process images and video in addition to text – bringing it in line with rivals that already offer the function. The limited release to select users comes just days after the Hangzhou-based company released its new flagship model V4, which was followed by extensive price cuts. According to DeepSeek multimodal team leader Chen Xiaokang, who made the...
Xbox CEO Asha Sharma has had a busy week. Sharma held an internal town hall with Xbox employees today, just days after announcing an Xbox Game Pass price cut, commenting on the status of the Xbox mobile store, and teasing a mysterious Xbox and Discord partnership. One of the items on the agenda for the […]
Microsoft announced Xbox Game Pass Ultimate will drop from $29.99 to $22.99 per month, while future Call of Duty games will no longer launch on the service. The change ends Microsoft's experiment using CoD to boost Game Pass subscriptions—a strategy that failed, with the company reportedly losing $300 million in CoD sales last year. Under new leadership following Phil Spencer's retirement, Asha Sharma is reversing the controversial 2024 day-one CoD strategy that was meant to drive Game Pass growth but instead plateaued the service at around 30 million users while cannibalizing CoD sales.
After Xbox CEO Asha Sharma admitted last week that "Game Pass has become too expensive for players," Microsoft is dropping the price of Xbox Game Pass Ultimate and PC Game Pass. Starting today, Xbox Game Pass Ultimate drops from $29.99 to $22.99 a month, and PC Game Pass moves to $13.99, down from $16.49 a […]
PepsiCo's quarterly earnings and revenue topped Wall Street's expectations.
