Tesla price discounts in China backfire: The EV maker offered discounts on new models to counter rising competition, but existing Tesla owners in China are furious and demanding rebates.
Brands and retailers face threats to their pricing power: An FTC investigation into PepsiCo and Coca-Cola’s pricing practices, coupled with consumers’ cost sensitivity, could limit companies’ abilities to dictate prices.
Instacart’s grocery sales growth is slowing: With investors souring on app-driven delivery startups and a deceleration in its grocery sales, the company cut its internal valuation by 20%.
VR’s golden age is coming, but not in 2023: Apple’s headset could hit the market this year, but with fierce competition in a down economy, it won’t move the revenue needle.
Five major TV networks team up against Nielsen: A new joint industry committee for measurement currencies wants to have alternatives certified by May upfronts.
Babies R Us is coming back: But it isn’t clear whether consumers are looking for, or want, a dedicated baby concept.
Microsoft hitches its AI wagon to OpenAI’s ChatGPT: Investing $10 billion will give Microsoft 75% of OpenAI’s profits and priority access to innovation it can fold into web search and software solutions.
‘Feels like the early launch of the internet’: Venture capitalists can’t contain their excitement about generative AI, which bodes well for startups in 2023. Meanwhile, the downturn protects against overvaluation.
Mass layoffs at the Wall Street bank and a forecasted 46% drop in profits are symptomatic of the broader banking industry slowdown.
CEO Ann Boden credited the neobank’s mortgage business and SME banking success for turning Starling into a “leading player” in the banking market.
Sixteen proposed or completed acquisitions of banks by CUs tied the 2019 record. This year could be just as busy.
Describing themselves as financially “burnt out,” most are leaning on digital banking tools to make adjustments.
Supply chain operators struggle with worker shortages and strikes: Cost-of-living struggles continue to spur labor activity at ports worldwide, driving companies to offer higher wages and improve benefits.
Airlines and card issuers are raising redemption thresholds on loyalty perks as travel demand roars back.
Streaming’s 2023 will be marked by price hikes: Embattled live TV service Fubo was the first to raise prices, but major rivals won’t be far behind.
Reddit and Pinterest are here to prove that brand safety is king: At CES, the two platforms touted their safety and moderation policies while major competitors flounder.