BUSINESS

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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.

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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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Chinese-owned luxury carmaker Lotus said Thursday that it planned to cut up to 550 UK jobs, in part over uncertainty caused by US tariffs. The layoffs represent over forty percent of its 1,300 employees in Britain. The carmaker, which is majority owned by Chinese auto giant Geely, has several sites in the UK, including its headquarters in Hethel, eastern England.