BUSINESS

IPHONE DISCOUNTS IN CHINA

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Shoppers in China are enjoying rare discounts on Apple's flagship iPhones, signaling the tech giant's response to growing competition and shifting consumer habits. From January 4, Apple launched a four-day promotion, offering discounts of up to 500 yuan ($68.50) on its newest models, including the iPhone 16 Pro and Pro Max.

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META UNVEILS LIVE AI, TRANSLATIONS, AND SHAZAM ON RAY-BAN SMART GLASSES: EARLY ACCESS REQUIRED FOR SELECT FEATURES

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In their latest launch, Meta Platforms has unveiled groundbreaking features for its Ray-Ban smart glasses, marking a pivotal moment in wearable technology's evolution. The v11 software update introduces live AI interaction, real-time translation, and Shazam integration, positioning these glasses at the forefront of immersive digital experiences.

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TESLA SALES SLOW AS EV COMPETITION INTENSIFIES

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Tesla's full-year auto sales fell short of the company's forecast, as reported Thursday, indicating increased competition in the electric vehicle market, particularly in China. While the company achieved a record 495,570 deliveries in the fourth quarter, it missed Wall Street expectations, resulting in a full-year total of just under 1.8 million vehicles, approximately one percent lower than 2023 sales, despite a previous projection of "slight growth."

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SOFTBANK CEO AND TRUMP ANNOUNCE $100 BILLION U.S. INVESTMENT TO BOOST AI AND INFRASTRUCTURE

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SoftBank CEO Masayoshi Son revealed an ambitious $100 billion investment plan for the United States, marking a significant moment in technological and economic collaboration. The strategic partnership, rekindling a relationship first established in 2016, promises to inject substantial momentum into America's artificial intelligence and infrastructure landscape.

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OIL PRICES CLIMB ON CHINA'S ECONOMIC OPTIMISM AS INVESTORS RESUME BUSINESS

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As the new trading year begins, oil markets show renewed optimism fueled by China's economic outlook. On Thursday, Brent crude rose 1.6% to $75.81 a barrel, while West Texas Intermediate (WTI) gained 1.7% to $72.92. This surge comes after Chinese President Xi Jinping pledged to bolster growth through proactive policies in his New Year address.

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LAMBORGHINI DELAYS FIRST ELECTRIC VEHICLE LAUNCH UNTIL 2029

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Lamborghini, the iconic Italian luxury sports car brand, has announced a delay in the launch of its first electric vehicle (EV), now scheduled for 2029. This marks a strategic shift in its approach to the evolving automotive market. CEO Stephan Winkelmann confirmed this decision during a recent media briefing at the company's headquarters in Sant'Agata Bolognese, Italy, signaling the company's assessment of the current market's readiness for high-performance electric sports cars.

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ALIBABA MAKES A $1.3 BILLION LOSS AFTER SELLING INTIME DEPARTMENT STORE

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Alibaba Group is making a strategic move by selling its entire stake in Intime, a leading Chinese department store chain, marking a significant pivot in its retail strategy. The company will incur a substantial loss of 9.3 billion yuan (US$1.3 billion) in the transaction, selling its 99% stake to a consortium led by Youngor Group and Intime's management team.

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STANLEY RECALLS 2.6 MILLION MUGS FOLLOWING BURN INJURIES

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Stanley, a century-old brand synonymous with durable drinkware, has issued a significant recall of 2.6 million travel mugs. The affected products, the 12- and 16-ounce Switchback and Trigger Action models, were flagged after reports of burn injuries caused by faulty lids. Manufactured in China, these mugs were sold between June 2016 and December 2024 across major retailers like Walmart, Target, and Amazon.

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