Amazon, as one of the largest e-commerce platforms globally, has always been known for its competitive pricing strategies. However, a recent incident involving Brandon Fishman and Mason Arnold sheds light on the downside of Amazon’s automated pricing algorithms. The story revolves around a discount promotion at Target that inadvertently led to a loss of the
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The landscape of the electric vehicle (EV) market is constantly evolving, with new players entering the scene and existing ones striving to maintain their competitive edge. South Korean EV battery maker SK On, a unit of energy group SK Innovation, is facing challenges amid slowing global EV demand. In an effort to adapt to the
The prospect of impending U.S. interest rate cuts is causing a stir among investors, who now find themselves at a crossroads. The dilemma they face is whether to maintain their allegiance to the stalwart Big Tech stocks that have been the backbone of market returns for an extended period, or to pivot towards lesser-loved sectors
Following the aftermath of the pandemic, Wall Street banks have reported a significant increase in deal flow and investment banking activity in their quarterly earnings reports. Major U.S. banks such as Citigroup, JPMorgan, and Wells Fargo have all witnessed a surge in investment banking revenue, signaling a healthier pipeline for deals in the market. Merger
SpaceX’s Falcon 9 rocket recently faced an unexpected setback, leading to the grounding of the vehicle pending an incident investigation. The incident occurred during the “Starlink Group 9-3” mission, where the rocket was supposed to launch 20 satellites into low Earth orbit. While the lower first stage of the rocket performed as expected, the upper
The official trailer for Paramount’s Gladiator II has taken the internet by storm, garnering an impressive 128M views in the first 24 hours across various platforms such as Instagram, TikTok, Facebook, YouTube, and more. This outpaced the 24-hour post trailer debut traffic of the studio’s own Top Gun: Maverick, which previously held the record with
Samsung is making a concerted effort to tailor its artificial intelligence features, known as Galaxy AI, specifically for the Chinese market. With the rise of local players dominating the smartphone industry in China, Samsung is looking to regain its market share by introducing innovative AI capabilities in its devices. In recent years, Samsung has faced
Investors in the U.S. stock market are facing a period of uncertainty as inflation shows signs of cooling. Despite softer-than-expected inflation readings for June, concerns about growth cooling persist. The Consumer Price Index (CPI) grew at a slower rate than anticipated, with headline CPI increasing by 3% year-on-year and core CPI growing by 3.3%. As
The National Football League is exploring the idea of allowing minority private equity ownership for its 32 teams, with a cap of up to 10% ownership stake. This consideration comes at a time when the landscape of sports ownership is evolving, and the NFL wants to ensure that its policies are in line with the
In the midst of the chaos caused by the collapse of fintech intermediary Synapse, there seems to be a ray of hope for the many Americans who have had their savings locked in frozen accounts for the past two months. Banks involved in the situation have reportedly made significant progress in piecing together account information
EU antitrust regulators have recently accepted commitments from Apple to grant access to its tap and go payments technology to competitors, following a four-year investigation. This decision marks a significant milestone in the efforts to promote competition and innovation in the mobile payments industry. The European Commission launched an inquiry into Apple Pay in 2020,
China has been making significant progress in the development and deployment of robotaxis in recent years. Local Chinese governments, from Beijing to Guangzhou, have been allowing domestic players to operate robotaxi rides for the public. This has led to a surge in the popularity of robotaxis, with videos about fully autonomous driving taxi experiences becoming
Following England’s dramatic victory in the European Championship semi-final, the City is likely to be buzzing with excitement. However, the euphoria from Ollie Watkins’ stoppage-time strike sending England into the final against Spain has not overshadowed the ongoing challenges in the financial markets. While celebrations are in order, investors must remain vigilant as the battle
Recently, U.S. bank regulators decided to fine Citigroup a total of $136 million due to the bank’s failure to adequately address data management issues that were originally identified in 2020. The Federal Reserve and the Office of the Comptroller of the Currency (OCC) jointly took this enforcement action, emphasizing the importance of Citigroup improving its