BUSINESS

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On Wednesday, Sony announced a $50 price increase for PlayStation 5 consoles in the United States, citing a "challenging economic environment." Isabelle Tomatis, vice president of global marketing at Sony Interactive Entertainment, stated in a post, "Like many global companies, we are navigating a difficult economic landscape." The revised prices for the PS5 will be $550, while the "Digital Edition" will cost $500, and the Pro version will be priced at $750, as noted by Tomatis.

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With the boom in artificial intelligence (AI) straining global energy resources, Rolls-Royce believes its nuclear reactors could provide a sustainable power source, potentially making the company the UK's most valuable, its CEO has said. The engineering firm has already signed agreements to supply small modular reactors (SMRs) to the UK and Czech governments.

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SoftBank Group's shares fell sharply on Tuesday, slipping more than 5% and ending a nine-day winning streak, after the Japanese investment firm revealed a $2 billion equity injection into Intel.

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Swiss watchmaker Swatch is facing a public relations crisis after an advertisement featuring a model pulling the corners of his eyes drew widespread condemnation from Chinese social media users, prompting the company to issue an apology and withdraw the advert. Critics argued that the pose resembled the "slanted eye" gesture, a historically racist caricature used to mock people of Asian descent, and called for a boycott of Swatch products in response.

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Seeking to expand its reach beyond electric vehicles and energy storage, Tesla has applied for a license to supply electricity to British homes, a move that could shake up the established UK energy market. If approved by Ofgem, the energy regulator, Tesla would be authorized to compete directly with the major players in the UK energy sector, providing electricity to households and businesses in England, Scotland, and Wales as soon as next year.