Jonathan Wong
The Latest
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Amazon Stock Surges 11% as Cloud and Advertising Growth Drive Blowout Quarter
Amazon shares jumped 11% Friday after the company delivered third-quarter results that exceeded Wall Street expectations across nearly every metric and raised its spending forecast to meet soaring demand for artificial intelligence infrastructure. The rally pushed the e-commerce and cloud giant's stock to its highest level this year, easing investor concerns over mounting AI costs that have rattled peers like Meta and Microsoft. 
Amazon shares jumped 11% Friday after the company delivered third-quarter results that exceeded Wall Street expectations across nearly every metric and raised its spending forecast to meet soaring demand for artificial intelligence infrastructure. The rally pushed the e-commerce and cloud giant's stock to its highest level this year, easing investor concerns over mounting AI costs that have rattled peers like Meta and Microsoft. -
Disney Channels Go Dark on YouTube TV After Contract Talks Collapse Between Google and Disney
More than 20 Disney-owned channels, including ESPN, ABC, and National Geographic, disappeared from YouTube TV after Google and Disney failed to renew their carriage agreement, escalating a standoff over distribution fees that could reshape the streaming-TV landscape. 
More than 20 Disney-owned channels, including ESPN, ABC, and National Geographic, disappeared from YouTube TV after Google and Disney failed to renew their carriage agreement, escalating a standoff over distribution fees that could reshape the streaming-TV landscape. -
Meta Shares Slide 10% as Investors Balk at $72 Billion AI Spending Surge Despite Record Earnings
Meta Platforms Inc. shares fell more than 10% Thursday after investors reacted sharply to the company's soaring artificial-intelligence investments, even as its third-quarter results beat expectations with record revenue and earnings. 
Meta Platforms Inc. shares fell more than 10% Thursday after investors reacted sharply to the company's soaring artificial-intelligence investments, even as its third-quarter results beat expectations with record revenue and earnings. -
Microsoft Backs Major Overhaul as OpenAI Clears Path Toward Possible IPO
OpenAI, the company behind ChatGPT, has unveiled a sweeping corporate restructuring that could pave the way for an initial public offering-an extraordinary pivot from its origins as a non-profit research lab. The move, developed in coordination with longtime partner Microsoft, redefines the governance, funding, and ownership framework of one of the most influential artificial intelligence companies in the world. 
OpenAI, the company behind ChatGPT, has unveiled a sweeping corporate restructuring that could pave the way for an initial public offering-an extraordinary pivot from its origins as a non-profit research lab. The move, developed in coordination with longtime partner Microsoft, redefines the governance, funding, and ownership framework of one of the most influential artificial intelligence companies in the world. -
Boeing Returns to Positive Cash Flow for First Time Since 2023 but Takes $4.9 Billion Hit on 777X Delays
Boeing reported Wednesday that aircraft deliveries and improved operations helped it generate positive free cash flow for the first time in nearly two years, even as the company absorbed a $4.9 billion charge tied to further delays of its long-awaited 777X jet. The results underscore both progress and persistent setbacks as CEO Kelly Ortberg pushes to restore financial stability and regulatory trust at the U.S. aerospace giant. 
Boeing reported Wednesday that aircraft deliveries and improved operations helped it generate positive free cash flow for the first time in nearly two years, even as the company absorbed a $4.9 billion charge tied to further delays of its long-awaited 777X jet. The results underscore both progress and persistent setbacks as CEO Kelly Ortberg pushes to restore financial stability and regulatory trust at the U.S. aerospace giant. -
UPS Cuts 48,000 Jobs, Closes 93 Facilities as Turnaround Plan Accelerates
United Parcel Service has eliminated 48,000 jobs so far this year, part of a sweeping restructuring effort that has closed dozens of facilities and reshaped the company's relationship with Amazon. The cuts, disclosed Tuesday alongside stronger-than-expected third-quarter earnings, signal the scale of UPS's turnaround as it works to streamline operations and offset declining parcel volumes. 
United Parcel Service has eliminated 48,000 jobs so far this year, part of a sweeping restructuring effort that has closed dozens of facilities and reshaped the company's relationship with Amazon. The cuts, disclosed Tuesday alongside stronger-than-expected third-quarter earnings, signal the scale of UPS's turnaround as it works to streamline operations and offset declining parcel volumes. -
Tesla Board Warns Musk Could Quit Without Approval of Record $1 Trillion Pay Package
Elon Musk's future at Tesla Inc. may hinge on a record $1 trillion compensation package that the company's board says is critical to retaining his leadership. In a letter to shareholders released ahead of Tesla's annual meeting, Chair Robyn Denholm made clear that the proposed pay plan is "not just another corporate agenda item," but a decisive measure to keep Musk committed to the company for the next decade. 
Elon Musk's future at Tesla Inc. may hinge on a record $1 trillion compensation package that the company's board says is critical to retaining his leadership. In a letter to shareholders released ahead of Tesla's annual meeting, Chair Robyn Denholm made clear that the proposed pay plan is "not just another corporate agenda item," but a decisive measure to keep Musk committed to the company for the next decade. -
Amazon to Slash Up to 30,000 Corporate Jobs as AI and Cost Cuts Reshape Workforce
Amazon is preparing to eliminate as many as 30,000 corporate jobs beginning Tuesday, marking one of its largest workforce reductions since the company cut 27,000 positions in late 2022, according to three people familiar with the matter. Amazon is preparing to eliminate as many as 30,000 corporate jobs beginning Tuesday, marking one of its largest workforce reductions since the company cut 27,000 positions in late 2022, according to three people familiar with the matter. -
EU Accuses Meta and TikTok of Breaking Transparency Rules Under Landmark Digital Services Act
The European Commission said Friday that Meta Platforms and TikTok have breached transparency obligations under the European Union's Digital Services Act, accusing both companies of failing to give researchers adequate access to public data and warning that violations could result in fines of up to 6% of their global annual revenue. 
The European Commission said Friday that Meta Platforms and TikTok have breached transparency obligations under the European Union's Digital Services Act, accusing both companies of failing to give researchers adequate access to public data and warning that violations could result in fines of up to 6% of their global annual revenue. -
Intel Shares Soar as Cost Cuts, AI Investments Mark Strongest Earnings Since 2023
Intel Corp. shares surged nearly 9% Friday after the chipmaker posted its strongest earnings since 2023, signaling early success in CEO Lip-Bu Tan's sweeping turnaround plan that combines aggressive cost cuts, strategic investments, and a renewed focus on artificial intelligence. 
Intel Corp. shares surged nearly 9% Friday after the chipmaker posted its strongest earnings since 2023, signaling early success in CEO Lip-Bu Tan's sweeping turnaround plan that combines aggressive cost cuts, strategic investments, and a renewed focus on artificial intelligence.
