Best Buy’s decision to raise its annual sales and profit forecasts is providing an early indication that artificial intelligence is beginning to influence consumer electronics spending beyond the technology companies building AI itself. The US electronics retailer now expects annual revenue of $42.3 billion to $42.8 billion, compared with its previous range of $41.2 billion…
China was once treated by American consumer companies as an almost indispensable engine of global growth. Its huge population, expanding middle class and rapidly developing cities created an opportunity that few multinational brands could ignore. But the assumptions behind that opportunity have changed. For companies such as Nike, Starbucks and General Motors, the problem is…
Coca-Cola is moving beyond the traditional soda fountain as changing consumer tastes push restaurants toward customized, visually distinctive and higher-value beverages. Inside its innovation facilities, the company is developing equipment that can automate products such as dirty sodas, refreshers and customized energy drinks, allowing restaurant workers to offer drinks that appear handcrafted without requiring the…
Iran and Oman are still negotiating the details of a proposed arrangement for the Strait of Hormuz, exposing the gap between political declarations of progress and the practical conditions required to restore normal shipping. A senior Iranian source has said that no final agreement has been reached, despite the Revolutionary Guards previously claiming that Tehran…
Meta’s agreement to pay up to $17.1 billion and impose sweeping new protections for young users marks a significant turning point in the legal battle over children’s safety on social media. The settlement, announced after a federal trial had already begun, does more than put a financial value on years of allegations against Facebook and…
India’s latest action against fraudulent websites hosted on Google’s Firebase platform reflects a significant change in the country’s fight against digital financial crime. Instead of pursuing only the websites, phone numbers and bank accounts used by individual scammers, authorities are increasingly targeting the digital infrastructure that allows fraudulent operations to function. The Indian Cyber Crime…
Standard Chartered is expanding its use of hedge fund strategies for wealthy clients as financial markets become more difficult to navigate, reflecting a broader shift among global wealth managers toward alternative investments. The bank’s move is significant not because hedge funds are new to private wealth, but because banks are increasingly presenting them as an…
Meta is facing a legal challenge that could affect far more than the future of Facebook and Instagram. A major trial underway in California is testing whether social media companies can be held responsible for deliberately designing platforms to encourage prolonged use among children and teenagers. The case is important because the allegations focus not…
China’s expanding campaign to tax offshore wealth is forcing wealthy investors to reconsider structures that were once widely used to manage assets outside the mainland. New rules covering offshore trusts, combined with growing scrutiny of overseas insurance and investment income, are changing the calculation for families that hold substantial wealth through Hong Kong, Singapore and…
India’s food safety regulator has widened its scrutiny of the country’s spirits industry by inspecting a Pernod Ricard manufacturing facility in Bengaluru and collecting samples of popular whisky brands. The two day inspection, according to sources familiar with the matter, involved testing liquor samples, reviewing documentation and examining production and packaging practices. No adverse finding…
