E-commerce and trade

OpenAI unveils new image generator in ChatGPT

OpenAI has rolled out an image generator feature within ChatGPT, enabling users to create realistic images with improved accuracy. The new feature, available for all Plus, Pro, Team, and Free users, is powered by GPT-4o, which now offers distortion-free images and more accurate text generation.

OpenAI shared a sample image of a boarding pass, showcasing the advanced capabilities of the new tool.

Previously, image generation was available through DALL-E, but its results often contained errors and were easily identifiable as AI-generated. Now integrated into ChatGPT, the new tool allows users to describe images with specific details such as colours, aspect ratios, and transparent backgrounds.

The update aims to enhance creative freedom while maintaining a higher standard of image quality.

CEO Sam Altman praised the feature as a ‘new high-water mark’ for creative control, although he acknowledged the potential for some users to create offensive content.

OpenAI plans to monitor how users interact with this tool and adjust as needed, especially as the technology moves closer to artificial general intelligence (AGI).

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India demands $601 million from Samsung

Samsung, the largest smartphone manufacturer in India, is under pressure from the Indian government over an alleged tax evasion involving telecom equipment imports.

Authorities claim the company dodged import tariffs between 2018 and 2021 by misclassifying key components it sold to Reliance Jio.

The component in question, the ‘Remote Radio Head,’ was reportedly imported from Korea and Vietnam. While Samsung argues the part does not function as a transceiver and therefore shouldn’t be subject to import duties, Indian officials point to earlier communications from the company describing it as such.

Tax raids carried out in 2021 uncovered internal documents and emails that reportedly support the government’s case. Samsung denies any wrongdoing and insists it followed local laws, citing a disagreement over technical classification rather than deliberate fraud.

The company is now exploring legal options to contest the demand. Meanwhile, seven Samsung executives in India face additional fines totalling $81 million. Reliance Jio, the buyer of the equipment, has not issued a statement.

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Samsung loses Qualcomm chip deal

Qualcomm is reportedly passing over Samsung for its upcoming Snapdragon 8s Gen 4 chip, choosing instead to stick with Taiwan’s TSMC for manufacturing.

Despite Samsung’s proven 4nm process and efforts to regain market confidence, Qualcomm appears hesitant to return after earlier issues with Samsung’s 3nm technology.

The new chipset is said to feature a mix of high-performance Cortex-X4 and A720 cores, notably lacking Qualcomm’s custom Oryon designs. However, this time around the company is being left out despite recent improvements in yield and packaging capabilities.

Samsung has focused on enhancing its legacy chip processes, recently beginning mass production of its fourth-generation 4nm chips.

The persistent trust issues seem to outweigh the technical strides, with Qualcomm opting to play it safe and rely solely on Taiwan’s TSMC’s consistency for this release.

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Chinese refiners hesitate as US targets Venezuela oil buyers

Chinese oil traders and refiners have temporarily halted purchases of Venezuelan crude after the United States threatened to impose 25% tariffs on countries importing from Caracas.

The sudden announcement by President Donald Trump created uncertainty in the market, leaving buyers cautious as they await further clarity on how the order will be enforced.

Venezuela’s largest oil customer, China, had been processing a significant share of its crude through independent refiners, commonly known as teapots, who now find themselves reassessing their supply strategy.

Beijing strongly opposed the US move, calling it an example of Washington’s ‘illegal unilateral sanctions’ and interference in other nations’ internal affairs. While Chinese refiners are hesitant, industry insiders suggest that purchases may resume once traders understand how to work around the restrictions.

Many teapots, reliant on cheaper crude from Venezuela amid tightening profit margins, are expected to find alternative ways to continue buying, especially if the Chinese government does not formally instruct them to stop.

The United States has ramped up pressure on Chinese imports through additional tariffs and sanctions on entities linked to oil shipments.

Some refiners affected by past US measures have already adapted, with reports indicating that certain state-linked firms continue to bring in Venezuelan crude under agreements tied to debt repayments.

Analysts believe that unless China officially restricts purchases, independent refiners will find ways to maintain their supply, despite the latest US threats.

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US trade war escalates with new tariffs and secondary duties

US President Donald Trump announced that new automobile tariffs are imminent, though not all levies set for 2 April will be implemented immediately.

The move comes as Washington seeks to balance its aggressive trade policies with potential exemptions for certain nations. While the administration has indicated some flexibility, officials maintain that strong reciprocal tariffs will remain a key priority.

Wall Street responded positively to the prospect of a more selective approach, with US stocks climbing on optimism that the measures may be less severe than initially expected.

New tariffs will target key industries, including autos, pharmaceuticals, and semiconductors, with duties expected to reach 25%. Trump defended the tariffs, stating they are essential for national security and economic independence.

Meanwhile, the White House announced a 25% secondary tariff on any country purchasing oil or gas from Venezuela, a move that sent oil prices rising.

Countries with large trade surpluses and non-tariff barriers are expected to face the most scrutiny, with Washington focusing on a list of high-priority nations dubbed the ‘Dirty 15.’

Despite international concerns, Trump remains steadfast in his efforts to shrink the United States trade deficit, which he claims is fuelled by unfair foreign practices.

While some nations, including the United Kingdom and India, have pushed for exemptions, officials suggest that avoiding tariffs entirely will be difficult.

The administration has also signalled further investigations into other sectors, raising the likelihood of additional trade restrictions in the near future. Experts believe that while some measures may be delayed, the overall direction of US trade policy remains aggressive and unpredictable.

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US-India trade negotiations intensify over tariff disputes

India is prepared to lower tariffs on over half of US imports worth $23 billion in a bid to ease trade tensions and prevent harsh reciprocal tariffs from Washington.

With US President Donald Trump set to impose new worldwide tariffs from 2 April, Indian officials fear the move could impact 87% of the country’s exports to the United States, prompting urgent negotiations between the two nations.

Trade talks are scheduled to begin this week, led by US Assistant Trade Representative Brendan Lynch.

While India is willing to make significant tariff cuts on a wide range of goods, government sources indicate that the concessions will depend on securing relief from US duties.

Sensitive items such as meat, wheat, maize, and dairy products remain off the table, but reductions may be possible for almonds, pistachios, and certain grains. India is also pushing for a phased reduction of its automobile tariffs, which currently exceed 100%.

Despite efforts by Prime Minister Narendra Modi to strengthen ties with Washington, Trump has repeatedly criticised India’s tariff policies, labelling the country a ‘tariff abuser.’

The Modi administration is weighing broader tariff reforms but faces domestic political challenges in implementing sweeping reductions. Experts suggest that while external pressure from the US might drive some changes, major across-the-board cuts remain unlikely in the short term.

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Former Cruise CEO Vogt’s Bot Company secures $150 million

Kyle Vogt’s new robotics startup, The Bot Company, has raised $150 million in a funding round led by Greenoaks, according to Reuters. Vogt, co-founder and former CEO of Cruise launched the company with Paril Jain, ex-Tesla AI tech leader, and former Cruise software engineer Luke Holoubek.

The startup, which aims to produce robots for household chores, raised its initial $150 million in May from notable investors including former GitHub CEO Nat Friedman and Stripe executives Patrick and John Collison.

The latest funding round comes less than a year after Vogt founded The Bot Company, following his resignation as CEO of Cruise in October. Vogt left Cruise after an incident in which one of its autonomous vehicles hit a pedestrian.

The Bot Company’s focus on robotics for everyday tasks signals Vogt’s continued drive to innovate in the tech space following his departure from Cruise.

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US retailers resist price hikes amid tariff pressures

US retailers Walmart and Target are engaged in tense negotiations with suppliers over proposed price increases on a wide range of products.

Manufacturers argue that rising costs, driven by tariffs imposed under former President Donald Trump, are making it difficult to maintain prices. Retailers, however, are pushing back to avoid losing market share and discouraging cost-conscious shoppers.

United States businesses such as Nordic Ware and Bogg Bag have seen production costs surge due to tariffs on aluminium and Chinese imports.

While some suppliers are attempting to raise prices, major retailers require a lengthy review process before accepting any increases.

Smaller manufacturers face the risk of having their products replaced with cheaper alternatives if they insist on higher prices.

Toymaker MGA Entertainment is among the firms negotiating price hikes with Walmart and Target, but retailers are resisting, citing concerns over strained consumers.

Some companies are absorbing losses to maintain shelf space, while others are seeking alternative production locations to reduce costs. The outcome of these pricing battles will determine how much shoppers ultimately pay for everyday goods.

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SAP reaches $340 billion market cap, leading European companies

German software company SAP has become Europe’s largest firm by market capitalisation, surpassing Danish healthcare giant Novo Nordisk.

SAP’s market value stood at $340 billion on Monday, edging ahead of Novo Nordisk, according to Reuters calculations using LSEG Workspace data.

Novo Nordisk, known for its dominance in the diabetes and weight-loss drug market, had held the top spot for some time.

The rise of SAP reflects the growing influence of the European tech sector, with the company benefiting from strong demand for its enterprise software and cloud-based services.

SAP’s achievement marks a significant moment for the region’s corporate landscape, signalling the increasing importance of technology firms in the European economy.

The shift in rankings highlights the evolving competition between industries as technology continues to drive market growth.

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AI agents take centre stage in Oracle fusion

Oracle has launched its AI Agent Studio, a new platform designed to let businesses orchestrate and customise AI agents within its Fusion Applications suite.

Announced during the OracleCloud World Tour in London, the studio enables companies to coordinate teams of AI agents that handle tasks across enterprise resource planning, HR, supply chain, and customer experience systems.

The AI Agent Studio allows businesses to adapt prebuilt Oracle agents to suit their own processes. Users can modify agents by adjusting logic, integrating external tools, or adding custom prompts.

It also offers flexibility in choosing from a range of large language models optimised for Oracle or industry-specific use cases, such as Llama and Cohere.

Oracle’s move builds on earlier AI deployments in its cloud applications, where agents have been embedded to manage routine operations like invoice processing or recruitment steps.

The new platform advances that effort by allowing these agents to operate collaboratively and be tailored to more complex workflows.

Industry leaders including Accenture, Deloitte, and PwC have praised the development, calling it a significant step toward smarter enterprise automation.

Analysts echo this sentiment, noting that Oracle’s approach allows businesses to maximise AI efficiency across departments without added cost, offering a powerful edge in today’s rapidly evolving digital workplace.

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