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Investing.com -- Uber Technologies (NYSE) has withdrawn from four African markets over the past year as affordability pressures and competition from cheaper ride-hailing services intensify.

According to Bloomberg, Uber ended operations in Nigeria and Uganda on September 2, following earlier exits from Tanzania and Ivory Coast.

The withdrawals highlight the challenges facing multinational companies in Africa, where rapid population growth has not necessarily translated into sufficient consumer purchasing power.

In Nigeria, approximately 50,000 drivers relied on Uber’s platform for income, according to the Amalgamated Union of App-Based Transporters of Nigeria.

The abrupt closure has left many drivers struggling to transition to competing platforms, with some reporting substantial declines in earnings.

Uber’s retreat reflects mounting competition from rivals including Bolt, inDrive and Yango, which offer lower fares and more flexible arrangements.

Bloomberg reported that a comparab

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Fast-food giants and supermarkets are rolling out a range of AI tools that could affect the prices shoppers pay, but experts warn the spread of data-driven tools could make personalized pricing easier to deploy.

Just this week, a federal antitrust lawsuit filed against McDonald’s alleged the fast food giant uses an AI-powered “pricing engine” to set menu prices across U.S. locations and overcharge customers for Big Macs and fries.

McDonald’s has denied that it’s using AI to determine what individual customers are willing to pay and said it provides its franchisees with “tools, resources, research and recommendations to help them make informed decisions.”

Even so, food businesses globally are increasingly digitizing operations with AI. Earlier this year, American grocery chain Kroger said it’s using an AI platform called FlashFood to mark down perishables nearing the end of their shelf life and marketing them to shoppers via an app.

Meanwhile, electronic shelf label

By Munsif Vengattil

BENGALURU, Oct 11 (Reuters) - Elon Musk said he would price Starlink’s satellite internet service affordably in India to take on Mukesh Ambani’s low-cost Reliance Jio, escalating his attacks on the rival billionaire days before Jio’s parent launches India’s largest-ever IPO.

Jio Platforms, which owns the telecom arm, is targeting a valuation of $106 billion in the offering. Much like SpaceX-owned Starlink, Jio’s own satellite venture is also awaiting final security clearance to launch.

Cheap data is the playbook that built Jio in India, and the one Musk has used in markets like Kenya to unsettle local telecom players. SpaceX now plans to enter the mobile carrier market itself, starting in the US.

Musk did not specify prices for India, where mobile data costs about 8 cents per gigabyte, among the lowest in the world.

"Obviously, if Starlink is too expensive in India, no one will buy it, so SpaceX will need to make pricing affordable," he said in a post on his so

Investing.com -- South Korean stocks are struggling to attract buyers as enthusiasm for artificial intelligence-related investments fades, triggering heavy foreign outflows and a sharp decline in trading activity.

Trading turnover in South Korea’s $4.3 trillion equity market has plunged 70% from its late-May peak, while the benchmark Kospi has fallen 22% in the second half of 2026, according to Bloomberg.

The reversal follows a first-half rally that made the Kospi the world’s best-performing major equity benchmark, driven largely by demand for AI memory chips.

Samsung Electronics and SK Hynix, which together account for more than half the index’s weighting, have become a source of vulnerability as investors question whether the semiconductor boom can continue.

Foreign investors have withdrawn $131 billion from Korean equities this year, the largest outflow among major Asian markets, according to exchange data compiled by Bloomberg.

Concerns over demand were evident when Samsung sh

Investing.com - A sharp selloff across internet equities this year has created an attractive entry point for investors, with major hyperscalers poised for potential free cash flow inflection points over the next 3 to 12 months, according to a research note from Evercore ISI.

The 19 large-cap internet stocks covered by Evercore ISI have dropped by an average of 18% in 2026, severely underperforming broader market benchmarks, with the S&P 500 up 14% and the Nasdaq Composite rising 19%.

Evercore ISI Senior Managing Director Mark Mahaney attributed the sector’s underperformance to six primary "Bear Market Factors":

Stretched Valuation Exits: Elevated valuations coming out of 2025 following a three-year bull run for internet stocks.

AI Disruption Risks: Terminal value debates and artificial intelligence risk fears that have hit names like Booking Holdings Inc. Expedia Group Inc., Shopify Inc., and Uber Technologies Inc.

Capex Intensity: The sheer scale of the AI investment cycle at maj

Investing.com -- Elon Musk said his companies could eventually manufacture semiconductors more efficiently than industry rivals, although he acknowledged that mastering chip production could take several years.

Speaking via livestream at the X Takeover event outside Tesla’s Austin gigafactory on Saturday, Musk said his companies’ experience developing customised manufacturing equipment could provide an advantage in semiconductor production.

Musk acknowledged that chipmaking remains one of the world’s most technically demanding industries and that he currently lacks direct expertise in semiconductor manufacturing.

He said his companies could nevertheless develop superior production methods, although achieving that goal might take several years.

The comments come as Musk prepares to develop Terrafab, a semiconductor manufacturing facility in Grimes, Texas, through a joint venture involving Tesla (NASDAQ), SpaceX (NASDAQ) and Intel (NASDAQ).

The project carries an initial investment