BUSINESS

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Lululemon shares plummeted on Thursday after the company warned that President Donald Trump's tariffs and the closure of a duty-free loophole would significantly impact its business. The Canadian company estimates the new US levies and the end of the "de minimis" exemption will cost it roughly $240 million this year. The now-closed exemption allowed companies to ship online orders worth $800 or less into the US duty-free.

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Authorities have dismantled what anti-piracy experts are calling the world’s largest hub for illegal live sports streaming. Streameast, a site that drew more than 1.6 billion visits in the past year, was shut down this week following a joint operation between the Alliance for Creativity and Entertainment (ACE) and Egyptian police.

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Walmart is doubling down on its challenge to Amazon in the subscription and digital streaming arena, announcing a new benefit for its Walmart+ members: the ability to choose between streaming services. The retail giant has introduced a feature called “Video Subscription Choice,” with Peacock joining Paramount+ as streaming partners.

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The battle for PepsiCo’s future is heating up. Long overshadowed by Coca-Cola in the soda wars, PepsiCo has now suffered another blow: it has fallen behind Dr Pepper, slipping to third place in the U.S. soft drink market. The setback has sparked fresh scrutiny from Wall Street, with heavyweight activist investor Elliott Management announcing a major push for change.

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Chinese electric vehicle maker BYD saw its shares drop by up to 8% on Monday following the release of disappointing quarterly results. The company reported a 30% year-on-year decline in net profit for the second quarter, falling to 6.4 billion yuan ($900 million; £660 million). BYD attributed the profit drop to a price war affecting China’s EV sector, stating in its filing that “increased price competition” among domestic brands has pressured margins.