Markets

India is resisting escalating trade tensions with the US after Washington’s tariff hike on Indian goods. Prime Minister Modi vowed to protect Indian farmers’ interests. The Ministry of External Affairs deemed the US tariffs “unfair” and pledged to protect national interests. Despite concessions already made by India, the US demands more access to India’s agricultural sector, a politically sensitive area. An opposition party member even suggested closing McDonald’s in India in response to the dispute and Trump’s claims regarding India-Pakistan relations.

UMC, a leading semiconductor foundry, announced that its emissions targets have been validated by the Science Based Targets initiative (SBTi), making it the first pure-play foundry to achieve this. UMC commits to net-zero emissions by 2050, with ambitious near-term (2030) and long-term (2050) reduction targets for Scope 1, 2, and 3 emissions. Key strategies include expanding renewable energy use, maximizing energy efficiency, pioneering low-carbon manufacturing, and engaging its supply chain through the Supply Chain GHG Inventory Initiative.

Fat Dong Lai, a Chinese retail chain, plans to hire 1,000 employees for a new store in Xinxiang, allocating 20% of positions to veterans and 2% to ex-offenders. This initiative sparked online debate, with netizens discussing the merits and drawbacks. A local HRB official stated they were unaware of specific recruitment plans and deferred responsibility for clarification to Fat Dong Lai. Yu Donglai, the company’s founder, announced the plan on social media. The move raises questions about social responsibility and reintegrating former inmates.

OPPO is attracting attention with its new employee perk: sea-view apartments. The “OPPO Binhai Bay Advanced Talent Housing Project” provides over 4,100 units, accommodating approximately 11,000 residents in Dongguan. These apartments, some renting for under $210 USD per month, range in size from studios to three-bedroom units and boast comprehensive amenities, including leisure facilities and educational resources. This large-scale residential venture aims to attract and retain talent in a competitive tech market.

Endeavour Mining plc (LSE:EDV, TSX:EDV) repurchased 30,000 ordinary shares on August 7, 2025, as part of its buyback program. The shares were bought at prices between 2,464.00 and 2,498.00 GBp, with a volume-weighted average price of 2,484.40 GBp. Following cancellation, Endeavour will have 241,623,368 ordinary shares issued, none held in treasury. This figure represents the total voting rights and is relevant for shareholders’ disclosure calculations under FCA rules. The buyback program was initially announced on March 20, 2025.

Gree Electric’s Chairperson Dong Mingzhu asserted that consumers are “making a mistake” if they don’t use Gree appliances, emphasizing the energy efficiency and health benefits of their products. She specifically highlighted the refrigerators’ ability to keep produce fresh for 20 days, claiming substantial electricity bill savings. This direct marketing approach, though controversial, is a hallmark of Dong’s leadership and contributes to Gree’s brand recognition. She also addressed consumer perceptions regarding air conditioner airflow and health benefits.

Tesla is reportedly shutting down its Dojo project, a move indicating a shift towards external partnerships for its AI needs. Head of Dojo, Peter Bannon, is expected to leave. Tesla plans to enhance collaborations with Nvidia and AMD for computing, and deepen its partnership with Samsung in chip manufacturing, evidenced by a $16.5 billion deal. Samsung will reportedly produce Tesla’s AI6 chip, while TSMC will manufacture the AI5. Tesla also plans to diversify Dojo’s supply chain, engaging Samsung and Intel for chip manufacturing and packaging.

Intel released a statement affirming its commitment to U.S. national and economic security amid reports of calls for CEO Lip-Bu Tan’s resignation. The company highlighted its significant investments in U.S. semiconductor R&D and manufacturing, including a new fab in Arizona. The statement follows alleged pressure from sources close to former President Trump. Tan, Intel’s first CEO of Chinese descent, was appointed in March 2025 and has a strong background in technology and investment. Intel is reportedly engaging with U.S. government officials to address concerns.

Alibaba’s 88VIP program now offers a discounted Hema X Gold membership (¥88/$12 USD) to its subscribers, a significant reduction from the usual ¥258 ($36 USD). Existing Hema members can also leverage this benefit and re-enroll. This move, part of 88VIP’s 7th-anniversary revamp, includes new perks like preferential delivery, travel benefits, and discounted tickets. Hema saw a doubling of X Gold memberships after integrating with 88VIP. The enhanced program boasts over 20 benefits, aiming to boost customer loyalty within Alibaba’s ecosystem.

With the arrival of “Beginning of Autumn” on August 7th, Douyin Life Services reports a surge in food & beverage group-buying orders related to traditional customs like “autumn fattening.” Braised pork belly orders jumped 103% year-over-year, while watermelon and winter melon orders increased by 41% and 83% respectively. Restaurants are leveraging Douyin to offer themed group-buying deals, reflecting the platform’s ability to transform cultural traditions into e-commerce opportunities and cater to seasonal consumer interests.