Alibaba Unveils Latest AI Service for Images in Push for Users
Alibaba Group Holding Ltd. unveiled a new iteration of its artificial-intelligence technology that will make it easier for users to generate and modify images from texts and visuals, as the Chinese e-commerce giant continues its aggressive push into AI.
The Hangzhou-based company introduced Qwen VLo, part of a series of AI services under the company's Qwen brand. The new model is an upgrade from Qwen2.5-VL and is now able to generate text-to-image and image-to-image results. It also has a technology called progressive generation, meaning users can see the process as an image is created.
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Hamilton Spectator
an hour ago
- Hamilton Spectator
Lululemon sues Costco for selling alleged dupes of its products
Lululemon Athletica Canada Inc. is accusing Costco Wholesale Corp. of infringing on its intellectual property by selling knockoffs of some of its most popular products. A lawsuit filed in a California court recently alleges Costco sells dupes of Lululemon's Scuba hoodies and sweatshirts, Define jackets and ABC pants. Some of the alleged fakes Vancouver-based Lululemon identified are sold under Costco's private label Kirkland, but others are made by manufacturers Danskin, Jockey and Spyder. 'Some customers incorrectly believe these infringing products are authentic Lululemon apparel while still other customers specifically purchase the infringing products because they are difficult to distinguish from authentic Lululemon products, particularly for downstream purchasers or observers,' the lawsuit says. Lululemon alleges these scenarios take advantage of patents it holds, as well as the reputation and goodwill it has built with customers. In its 49-page court filing, Lululemon says it tried to address the dupes by sending Costco cease and desist letters but is now asking a court to step in. Lululemon has requested the matter be heard by a jury trial, which it wants to order Costco to cease manufacturing, importing, marketing and selling the alleged dupes. It also wants the Washington-based retailer to remove any instances where it was advertising alleged dupes online or in print and is asking the court to require Costco to cover any lost profits Lululemon incurred from the products. Costco did not immediately respond to a request for comment. It has yet to file a response to Lululemon's lawsuit. Dupes have become incredibly popular in recent years as shoppers looked to cope with inflation and a global trade war by seeking products mimicking the originals made by name brands. The phenomenon has gained traction online in particular, with social media accounts sharing the best dupes they've found. While knock-off cosmetics are especially popular, Lululemon has also become a target because it sells its athletic wear at higher prices, which some customers find unattainable. The lawsuit comes weeks after Lululemon said it would try to weather new and possibly incoming tariffs with price increases that will be 'modest in nature' and applied only to a 'small' portion of its products. The brand has been working to bounce back from a lack of newness that disappointed consumers last year and earlier this year. Newness — how fresh a brand's products and styles appear to consumers — is one of the key ways retailers draw in customers. This report by The Canadian Press was first published June 29, 2025. Companies in this story: (TSX:LULU)
CNBC
an hour ago
- CNBC
Is the Guild 1% Down mortgage right for you?
One of the largest home loan providers in the U.S., Guild Mortgage originated over 75,000 mortgages in 2024. The San Diego-based fintech company's flexible credit requirements and generous down payment assistance programs are some of the reasons it landed on CNBC Select's lists of the best mortgage companies and best lenders for a small down payment. One great option Guild has for lower-income homebuyers is the 1% Down mortgage. Borrowers who meet income requirements and have a 1% down payment are eligible for an additional 2% from Guild in the form of a non-repayable grant, up to $5,000. Unlike similar programs from competitors, the 1% Down loan is available to both first-time and repeat buyers with no location restrictions. Apply online for rates. Conventional, FHA, VA, USDA, Arrive Home, Zero Down, jumbo, renovation, refinancing, reverse mortgages, home equity loans 10 to 30 years 540 for FHA, VA and USDA loans; 600 for Zero Down; 620 for conventional loans, 680 for jumbo loans. Nontraditional credit options available 0% for USDA, VA, Arrive Home™ or Zero Down; 1% for conventional loans, 3.5% for FHA loans Approved borrowers with a 1% down payment will get another 2% from Guild in the form of a non-repayable grant. That automatically lets them meet the 3% down payment requirement for conventional loans set by Fannie Mae and Freddie Mac. Applicants may also be eligible for a lender-paid temporary buydown, which covers a portion of their interest for a set period, thereby keeping monthly payments lower initially. Although Guild is not licensed to lend in New York, first-time and repeat homebuyers in every other state can qualify. Income: Up to 80% of the area median incomeCredit score: 620 (other credit sources considered)Other requirements: Must be for a single-family home and borrowers must complete a homebuyer education course Guild's 1% Down loan is a great choice for households earning up to 80% of the area median income. Unlike a number of other down payment assistance programs, it's not limited to first-time buyers or low-to-moderate-income (LMI) census tracts. Since Guild considers alternate credit sources (including on-time utility payments), it's also a strong contender if your credit history is thin or you have a nontraditional income source. You should also consider the loan if you're in a hurry: Guild's Homebuyer Express guarantee means you'll close within 17 days or be eligible for a $500 closing cost rebate (not available in Oregon). Guild has a mixed record with customer satisfaction, though: While it received an A+ from the Better Business Bureau and scored above average for customer satisfaction on J.D. Power's 2024 mortgage servicing survey, it scored below average for origination. There are also inherent drawbacks in making a small down payment: If you don't qualify for the 1% Down program, Guild has other loans with down payment assistance: The Zero Down loan combines a 3.5% FHA loan with a forgivable second mortgage, effectively reducing your down payment to zero. Plus, you only need a 600 credit score to get approved. Guild's Arrive Home loan is another zero-down option available to borrowers who earn as much as 160% of the median income in their area. Looking at other lenders, only requires 1% down, while borrowers can be approved for Citibank's HomeRun mortgage and Chase Bank's DreaMaker loan with as little as 3% down. Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.10-, 15- and 30-year fixed-term conventional loans, 30-year VA and FHA loans, custom mortgages with fixed-rate terms from 8 to 29 years.6200% for VA, 1% for RocketONE+, 3% for conventional, 3.5% for FHA, 10% to 15% for jumbo10 – 30 years6203% for DreaMaker℠ or Standard Agency loan FHA loans: Backed by the Federal Housing Authority, these mortgages only require 3.5% down if you have a 580 credit score or better. USDA loan: The U.S. Department of Agriculture guarantees zero-down home loans to borrowers buying in select rural and suburban areas and earning up to 115% of the AMI. VA loan: These zero-down-payment mortgages, backed by the Department of Veteran Affairs are available to active duty service members, reservists and veterans. HomeReady: You only need a down payment of 3% down with this Fannie Mae-backed mortgage. Borrowers must earn no more than 80% of the area median income and have a credit score of at least 620. Home Possible: You only need a down payment of 3% down with this Freddie Mac-backed mortgage. Borrowers must earn no more than 80% of the area median income and have a credit score of at least 620. Founded in 1960, San Diego-based Guild Mortgage is a legitimate lender with 740 branches in 46 states. It's licensed nationwide except in New York and, in 2024, approved 75,356 mortgages totalling $23.2 billion. Guild Mortgage requires score of 620 for a conventional mortgage, 1% Down and Arrive Home loan and a 600 to qualify for its Zero Down loan. Guild accepts scores of 540 for FHA, VA and USDA mortgages and 680 for jumbo loans, lower than many other lenders. Ranked No. 4 on J.D. Power's 2024 survey of mortgage servicers, Guild Mortgage claims it services the majority of the loans it originates. According to the Guild website, "We're your loan partner throughout the life of the loan." Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here. At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every mortgage review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of mortgage products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. CNBC Select reviews mortgage products using a variety of criteria, including average rates, eligibility requirements, available terms, fees, nationwide availability, online experience and customer satisfaction. We also incorporate findings from independent sources, including lender scores from J.D. Power's mortgage origination and servicer surveys and ratings from the Better Business Bureau.
CNBC
2 hours ago
- CNBC
Op-ed: It's time for U.S. to treat rare earth metals as instruments of geopolitical power. China already does
In April 2025, China imposed new export controls on seven rare earth elements and the permanent magnets derived from them — materials that form the foundation of modern life and modern warfare. Fighter jets, missiles, electric vehicles, drones, wind turbines, and even data centers rely on high-performance magnets made from these critical minerals. By restricting their flow, Beijing did not just flex its industrial muscle, it revealed America's and the rest of the world's dangerous vulnerability. China's latest actions show their readiness and ability to weaponize American and global dependence. This is not a new challenge. The United States has known for over 15 years that its critical mineral supply chains were too concentrated, too fragile, and too exposed to Chinese leverage and control. And yet, across Democratic and Republican administrations, we have failed to respond with urgency or coherence. Now, the consequences of those failures have grabbed us by the neck and are cascading across our commercial and defense sectors. Following the London talks, Washington and Beijing announced on Friday a new trade framework under which China will resume approving export licenses for rare earths over the next six months. U.S. officials have publicly extolled the breakthrough — but have offered few details about what was given in return. That leaves major questions unanswered: What were the U.S. trade-offs? How will the deal be enforced? And what happens when the six months are up? Skepticism is high. Ford recently halted production at its Chicago plant due to a magnet shortage — underscoring that even short-term supply interruptions have real consequences. Paper agreements are not supply chain solutions. Without transparency, timely approvals, and long-term planning, this could easily become another diplomatic cycle of one step forward, two steps back. Even this limited reprieve carries risks. Dozens of companies in Europe and North America have described China's export license process as highly invasive — requiring firms to submit detailed production data, end-use applications, facility images, customer names, and transaction histories. Some applicants have been denied for not providing photographs or documentation of their end users. Executives say the process amounts to "official information extraction." While firms are advised not to share sensitive IP, omitting key details can mean indefinite delays. For companies in defense supply chains, the implications are alarming: valuable commercial intelligence could be used to map competitors, disrupt pricing, or advance Chinese substitutes. This isn't just licensing — it's competitive surveillance. And until the U.S. builds secure, independent capacity across the critical minerals supply chain, it remains exposed to both disruption and data risk. This vulnerability did not happen overnight. Many have been watching this slow-motion train wreck for years. In 2010, China cut off rare earth exports to Japan during a maritime dispute, a clear warning shot the U.S. observed but brushed off. In 2014, the Obama administration won a WTO case against China's export restrictions but wrongly assumed that legal success would deter further manipulation. The first Trump administration identified rare earths as critical but notably exempted them from 2018 China tariffs, perhaps an unspoken acknowledgment of U.S. dependence. Biden took the most structured approach to date: Executive Order 14017, the Critical Minerals Working Group, and funding from the IIJA and IRA. Strategic partnerships like the Minerals Security Partnership emerged. But progress was slow, hampered by permitting delays and uneven ally commitments. The second Trump administration has returned with more aggressive measures, invoking Section 232, activating the Defense Production Act, and proposing major funding boosts in FY2026. A National Energy Dominance Council now coordinates efforts. Yet these measures, like China's six-month reprieve, still fall short of dislodging Beijing's grip. And crucially, the defense sector remains cut off, with no such licensing window available. The recent G7 summit in Canada underscored the global stakes. European Commission President Ursula von der Leyen directly accused China of "weaponizing" its control over key materials like rare earths, calling for a united G7 response. The result: a G7 Critical Minerals Action Plan. Though China was not mentioned by name, the subtext was unmistakable. The plan commits G7 members to raise ESG and traceability standards for key resources; mobilize capital for new projects in critical mineral mining and processing; and cooperate on innovation in recycling, substitution, and refining technologies. Predictably, Beijing reacted with fury. The Chinese Ministry of Foreign Affairs dismissed the plan as "a pretext" for protectionism, claiming the G7 was instigating confrontation out of fear of losing market share. Brussels is now signaling that trade negotiations with Beijing are effectively stalled, so the odds of Chinese retaliation — particularly against the EU — are rising. If China doubles down, it risks pushing the EU, Japan, South Korea, and India more tightly into Washington's orbit — precisely what Beijing hopes to avoid. The raw numbers are staggering. China accounts for roughly 70% of global rare earth mining but over 90% of refining capacity. It produces 92% of the world's neodymium-iron-boron (NdFeB) magnets — used in everything from submarines to Teslas. This dominance is no accident. China subsidized processing, focused on global acquisitions across the supply chain, and scales up production much faster than the West can approve and issue permits for a single mine. U.S. sites like MP Materials' Mountain Pass and Round Top remain incomplete without downstream processing. The DoD and DOE have offered grants, and the FY2026 Trump budget looks to expand U.S. mining capacity and secure access to critical minerals. But all this remains dwarfed by China's head start and longtime industrial command-and-control of the sector. China moved early and decisively into Africa and Latin America, partnering with governments in the Democratic Republic of Congo, Bolivia, and Chile; investing in ports, rails, and refining infrastructure. In contrast, U.S. efforts and engagement on these sets of issues has been piecemeal and values-forward, prioritizing transparency and governance, important issues indeed, but delivering limited momentum of the critical mineral issues. Even recent MOUs with Ukraine and the Democratic Republic of Congo remain, for now, symbolic, hindered by conflict and instability in those countries. The London talks and recent trade deal progress bought time. But time without a strategy is not fruitful. China's licensing regime remains intact, its data demands unabated. The defense sector remains shut out. Meanwhile, congressional threats to rescind clean energy and industrial policy funding could stall rare-earth projects just as they gain traction. This is a decisive moment. China is betting that America's internal divisions — between labor, industry, environmentalists, tribal nations, and political factions — will prevent the kind of unified, sustained effort needed to compete. They may be right. The U.S. needs to proves them wrong. The United States must now treat critical minerals not as commodities, but as instruments of geopolitical power. China already does. Escaping its grip will require more than mine permits and short-term funding. It demands a coherent, long-term strategy to build a complete supply chain that includes not only domestic capabilities but also reliable allies and partners. From mining and refining to magnet production and recycling, every link must be strengthened through targeted investment, permitting reform, and strategic coordination. A successful and sustainable policy requires commitment from one presidency to the next. Nor can the U.S. afford to engage allies and partners only rhetorically. Countries like the Democratic Republic of Congo, Chile, and Indonesia (among others) need sustained partnerships backed by financing, technology transfer, and critical infrastructure investments, not just our lectures on governance. The six-month export reprieve from China is not a solution — it is a stress test. It reveals whether the U.S. can finally focus and act, or whether it will retreat again into complacency. Beijing is betting it will be the latter. Washington must respond with urgency, unity, and a strategy equal to the scale of the challenge. There is still time, but not much. —
