Alibaba slides as the e-commerce giant’s cloud arm reportedly plans to slash overseas prices

Alibaba slipped more than 3% Tuesday morning following reports that its cloud unit will cut prices of select Elastic Compute Service products by up to 10.2% in overseas markets including Frankfurt, Tokyo, and Dubai.

The cuts, effective October 30, reflect the company’s push to expand its global footprint. The moves reflect a more targeted regional approach for the company as it seeks to strengthen its footprint in Europe and Asia. Alibaba Cloud made similar price cuts on international cloud products last year.

Competition is hot: Alibaba Cloud sits behind behemoths Amazon, Microsoft, and Google in the global cloud race, coming in fourth worldwide, according to data from Gartner.

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1 year into the Switch 2, we might’ve seen the top of the console market

The Switch 2 launched on this day in 2025. Amid a rough year for consoles, Nintendo has logged a good one.

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GM has reportedly rehired more than 100 former Cruise employees, 18 months after shuttering the robotaxi unit

GM has rehired more than 100 employees it let go early last year when it shuttered Cruise, its former robotaxi business, according to reporting by The Information.

The hiring spree, which also includes employees from Nvidia and Uber, is geared toward ramping up GM’s plans for personal-use self-driving vehicles and not robotaxis. The former had been the focus of Cruise, prior to GM shuttering it in 2024.

Reporting last fall revealed that GM was attempting to rehire some former Cruise employees, but the scope of that effort wasn’t clear. More than 1,000 employees were laid off when the automaker scrapped Cruise, which it invested $10 billion into.

Google’s Waymo, Cruise’s former chief rival, is now worth $126 billion after a $16 billion funding round earlier this year. The company says it’s serving 500,000 paid robotaxi rides per week in the US.

Exclusive: With Some 100 Rehired Cruise Employees, GM Pursues Eyes-Off Autonomous Cars

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After years of struggle, Victoria’s Secret shares have been hitting new highs this week.

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Recent US sales data reveals a “sedanaissance” among major automakers like Honda, Hyundai, and Toyota.

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McDonald’s has a new strategy: Make its stores “easier to run”

Franchised and affiliated locations already make up over 95% of McDonald’s store count and 62% of its sales.

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