BUSINESS

New York City plans to open city-owned grocery stores offering a 30% discount on essential foods, sparking debate over its impact on local grocers and food affordability.

Jordan Brand reintroduces the Air Jordan 17 in a new Black Patent colourway, highlighting a shift towards reissuing less common models. The release is part of a broader retro trend.

Elon Musk humorously refers to himself as a 'former trillionaire' after a significant drop in his net worth, highlighting the volatility of billionaire wealth tied to tech company valuations.

Capital One defends its decision to close Trump Organization accounts, citing anti-money laundering concerns. The bank seeks dismissal of a lawsuit alleging political bias, highlighting compliance-driven motives.

Samsung's Galaxy Z Fold 8 introduces ten innovative AI features, enhancing user experience with tools like My FanCam, Call Brief, and Gemini Intelligence, while prioritising on-device privacy and extended software support.

Unitree's AS2-W robot, with its autonomous navigation and lifelike movements, has gone viral, sparking mixed reactions. Its potential for cargo transport and search-and-rescue highlights significant advancements in robotics.

Amazon is offering a $350 gift card for pre-orders of Samsung's Galaxy Z Fold 8, adding to competitive promotions for the foldable smartphone's launch.

Vizio smart TV users faced widespread issues with SmartCast functionality, as Downdetector reported a surge in complaints. Vizio has yet to confirm the outage or provide a resolution timeline.

Tesla is reportedly exploring options to separate its China operations amid potential merger talks with SpaceX, despite Elon Musk's denial. Regulatory concerns and geopolitical tensions are key factors.

The U.S. Department of Veterans Affairs is conducting a clinical trial to test if semaglutide, a diabetes medication, can help veterans with alcohol addiction by affecting the brain's reward system.

South Korea's KOSPI index has experienced extreme volatility due to concentrated chip stocks, earnings reactions, Chinese competition, AI spending doubts, leveraged trading, and shifting foreign investor flows.

SpaceX shares near all-time low amid insider selling concerns and ambitious growth plans. Analysts remain divided on valuation, with significant uncertainty surrounding the company's financial trajectory.

President Trump held a Cabinet meeting at Camp David to address the escalating conflict with Iran, which continues to impact global oil markets and regional stability.

Meta's shares rebounded after a drop due to AI investment costs, despite strong ad revenue growth. The company's financials show increased expenses and reduced free cash flow, impacting investor sentiment.

Amazon's shares jumped 15% after reporting strong Q2 results, driven by AWS growth and AI investments. The cloud division's revenue surged 37%, easing investor concerns over AI spending.

Apple's shares fell 9.56% despite a record Q3 2026 performance, as investors focused on weaker-than-expected results from its Services division and China business, overshadowing overall strong financial metrics.

Lenovo shares surged nearly 10% following strong AI infrastructure growth and resilient PC sales, driven by robust demand and strategic investments, despite challenges from rising memory chip costs.

IES Holdings' shares jumped 31% after reporting a major earnings surprise and announcing a two-for-one stock split. The company exceeded revenue and earnings expectations, boosting investor confidence.

Asustek Computer's shares surged nearly 10% due to strong AI infrastructure demand and robust earnings, despite mixed analyst opinions and rising component costs impacting the broader electronics sector.

SK Hynix shares surged nearly 30% as South Korea's KOSPI index recorded its largest single-day rally, driven by strong foreign investment and positive AI market sentiment.

Samsung shares soared 26.81% as South Korea's KOSPI index posted a record single-day rally, driven by AI optimism and foreign investment. Analysts urge caution amid ongoing market volatility.

Nebius Group's stock has surged due to a $1 billion AI deal and market dynamics, despite volatility and competitive pressures in the AI infrastructure sector.

Micron Technology's stock has seen significant volatility due to AI-driven demand for memory chips, with recent price fluctuations influenced by profit-taking, executive stock sales, and market sentiment.

Nintendo's stock fell 5.72% amid a global memory chip shortage, impacting its profitability and leading to price hikes for the Switch 2 console, despite strong sales performance.

Apple and Amazon's contrasting earnings reports led to mixed market reactions, highlighting the impact of AI-driven demand on tech stocks. Apple faced challenges, while Amazon saw growth in cloud services.

China's SSE Composite Index rose 0.72% as semiconductor stocks rallied, despite weak manufacturing data and ongoing economic recovery concerns. The market remains volatile amid geopolitical tensions and policy uncertainties.

Asian markets surged as tech stocks rebounded following strong earnings from US giants. Japan's Nikkei and South Korea's KOSPI indices saw significant gains, driven by investor confidence in AI infrastructure.

South Korea's KOSPI index experienced its largest single-day rally, surging 17.91% due to tech giants' rebound and strong US tech earnings, despite recent market volatility.

The ASX 200 closed the week near a five-month high, driven by easing inflation and a strong U.S. tech rally, despite a late-session pullback in the materials sector.