Temu shares slump with China slowdown, Oppo Find X8 series launches globally
PDD Holdings, the Chinese owner of online shopping platforms Temu and Pinduoduo, has reported disappointing sales and profit as Chinese consumers continued to hold back amid an economic slowdown. US-listed shares of the e-commerce giant fell nearly 11% on Thursday following the announcement. It comes after PDD’s main rivals in its home market, Alibaba and JD.com, also posted underwhelming results in the September quarter. Consumer confidence in China has taken a hit from a crisis in the country’s property sector and high levels of youth unemployment. BBC
A social media ban for under-16s is “not on the cards at the moment”, a minister has said, as teenagers urged him to rethink plans to follow Australia’s lead and restrict access to sites such as TikTok, Instagram and Snapchat. Peter Kyle, the secretary of state for science and technology, is trying to convince social media platforms to do more to prevent online harms, with new laws coming into effect next year that could result in heavy fines and even jail in cases where online safety is breached. Guardian
The Volkswagen ID.3 and ID.4 are destined for a major overhaul in 2026 that Volkswagen says will feature a brand new design language in a similar mould to the ID.2All concept. Considered a ‘reskin’ of the existing models, both will use the same MEB platform as they do now, but feature considerable updates to the design, technology and interior… Part of this update is also a reinvention of the interior design and interfaces, with the return of some physical buttons on the dash and centre console as seen on the ID.2All concept. AutoExpress
After debuting in China, the Oppo Find X8 series is launching globally and it’s a pretty compelling offer. The Oppo Find X8 series builds on the company’s camera-focused flagship lineup. It’s the first global release the series has seen since 2022’s Find X5, and a pretty big step up. Both the Oppo Find X8 and Find X8 Pro are powered by MediaTek’s latest Dimensity 9400 chipset alongside a flagship package of specs that are remarkably similar. Both devices have a trio of 50MP camera sensors, with the Find X8 Pro getting a slightly better main sensor and a second telephoto lens as well. 9to5Google
The boss of one of the UK’s largest software groups said more businesses will replace workers with artificial intelligence (AI) as tax hikes announced in the Budget leave them searching for ways to cut costs. Steve Hare, chief executive of Sage, says companies looking to use AI to boost productivity would now step up their efforts. ‘That trend towards a more digital economy was already there but in many ways, this [the Budget] accelerates it,’ he said. ThisIsMoney
“I’m feeling a mix of excitement and nerves” – that’s how the AI replied when I asked how it felt minutes before the rocket launch. The reply came from the Hera Space Companion, an AI-powered assistant that was developed to “communicate” with the spacecraft of the European Space Agency’s (ESA) Hera mission. Launched in October and due to last several years, the Hera mission is part of a planetary defence project designed to assess whether Earth can be protected from a catastrophic asteroid impact. Sky News
