Markets

A woman, Ms. Zhang, and her friend were stopped from taking photos in the Waldorf Astoria Shanghai lobby while wearing Lolita dresses. A manager allegedly deemed their attire “inappropriate” and asked them to leave, citing “discrimination.” Ms. Zhang, who found others wearing similar outfits photographed at the hotel, requested written dress code regulations, which were not provided. She is now seeking a public apology from the luxury hotel, which lacks a clearly defined dress code on its website.

Steam’s recent removal of adult games highlights the growing influence of payment processors on content availability. An advocacy group pressured these processors, citing concerns about exploitation, leading Steam to restrict content to avoid revenue loss, mirroring Pornhub’s experience. This action sparked debate about censorship and the power of payment processors, impacting content creators and potentially broader digital freedoms. Gamers have launched a counter-petition, while some reports face censorship, underscoring the controversy’s magnitude. Even Elon Musk has weighed in, hinting at a new payment solution.

Elon Musk’s xAI filed a trademark application for “Macrohard,” sparking speculation of a rivalry with Microsoft. This follows Musk’s July announcement of a multi-agent AI software company powered by Grok, designed to tackle “macro” and “hard” problems. The name “Macrohard,” seemingly a jab at Microsoft, adds fuel to the existing tension between Musk and Bill Gates, marked by public disagreements on Tesla stock and other criticisms. The trademark suggests Musk is seriously pursuing this venture.

Elon Musk announced advancements in AI video technology, including rapid acceleration in real-time rendering speeds. A six-second video’s rendering time decreased from 60 to 15 seconds in ten days, with further reduction expected. Musk’s AI venture, Grok, launched Grok Imagine, a text-to-video generator that creates video clips with sound effects from textual descriptions in 30 seconds. These developments promise to revolutionize video content creation and dissemination, with potential deployment within months.

German mobile phone repair firm Einhaus Group, with €70 million in annual revenue, filed for bankruptcy after a crippling ransomware attack by the “Royal” group in March 2023. The attack encrypted key systems, leading to a ransom payment and significant financial losses. The company downsized drastically, selling its headquarters and cutting staff from 170 to eight. While suspects were apprehended, the ransom hasn’t been recovered. Founder Wilhelm Einhaus plans to start over, highlighting the devastating impact of ransomware on businesses.

Huawei’s HarmonyOS 5 has reached over 10 million devices, signaling significant ecosystem growth. Alongside this milestone, the HarmonyOS 5.1 rollout is underway. To incentivize upgrades, Huawei launched the “HarmonyOS Gift” campaign, rewarding users with daily check-in bonuses, including cash prizes and memberships to popular apps like Bilibili and WPS Mobile. Upgrading users can also receive free memberships for Huawei Music, Themes, Reading, and Video, plus chances to win annual free coupons for select apps, covering entertainment, learning, and productivity needs.

Tesla has reportedly signed a $16.5 billion deal with Samsung for AI chip manufacturing, intended for electric vehicles and robotics. The agreement focuses on the AI6 chip, potentially utilizing a 2nm process with production in Austin, Texas, starting in 2025. Despite this, Morgan Stanley analysts believe the deal will only minimally impact TSMC’s revenue, estimating a 1% reduction, as TSMC remains a key supplier for Tesla and xAI. TSMC is set to launch its 3nm A15 chip in 2026, while Samsung’s A16 isn’t expected until 2027.

The 2025 summer ice cream market shows mid-range options ($3-$5) dominating, capturing nearly half the sales, while premium ice cream (over $10) faces challenges. Zhong Xue Gao filed for bankruptcy, and Häagen-Dazs experienced declines in China. Value-conscious spending drives this shift, making pricing aligned with consumer power crucial for sustainability, as the ultra-premium and budget segments shrink. The mid-to-premium range emerges as the strongest force.

Intel’s foundry ambitions face disruption as three key manufacturing executives are reportedly retiring: Kaizad Mistry, Ryan Russell, and Gary Patton. Mistry and Russell oversaw process technology development, while Patton focused on design platform solutions for foundry clients. These departures create a knowledge gap in Intel’s manufacturing roadmap, crucial for attracting external customers to Intel Foundry Services (IFS). Intel is also reportedly reviewing its technology development structure, potentially streamlining capacity planning and reducing engineering headcount.

Veteran Chinese actor Zhu Longguang passed away in Beijing on August 2, 2025, at the age of 86. Known for his roles in “Tunnel Warfare” and “My Own Swordsman,” Zhu is most recognized internationally for his iconic portrayal of the Buddha in the 1987 adaptation of “Journey to the West.” His death has prompted widespread mourning, with many fans recalling his definitive performance as the Buddha. Actor Liu Xiao Ling Tong, who played the Monkey King, also expressed his sorrow.