Jonathan Wong
The Latest
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SoftBank Sells $5.8 Billion Nvidia Stake, Boosts OpenAI Investment to $22.5 Billion
SoftBank Group has sold its entire $5.8 billion stake in Nvidia and trimmed major holdings in T-Mobile as part of a sweeping asset reallocation to finance its $22.5 billion expansion into OpenAI, underscoring founder Masayoshi Son's full-scale pivot toward artificial intelligence. 
SoftBank Group has sold its entire $5.8 billion stake in Nvidia and trimmed major holdings in T-Mobile as part of a sweeping asset reallocation to finance its $22.5 billion expansion into OpenAI, underscoring founder Masayoshi Son's full-scale pivot toward artificial intelligence. -
Wendy’s to Close Up to 350 U.S. Restaurants as Sales Lag and Franchise Pressures Mount
Wendy's is preparing to close between 200 and 350 restaurants across the United States beginning late next year, marking one of the most significant restructurings in the company's recent history. The closures are part of a turnaround plan aimed at improving profitability after several quarters of weakening sales and growing competition in the fast-food sector. 
Wendy's is preparing to close between 200 and 350 restaurants across the United States beginning late next year, marking one of the most significant restructurings in the company's recent history. The closures are part of a turnaround plan aimed at improving profitability after several quarters of weakening sales and growing competition in the fast-food sector. -
Tesla Shareholders Approve $1 Trillion Compensation Plan for Musk as Board Warns of Leadership Risk
Tesla shareholders have voted to approve a compensation package for CEO Elon Musk valued at up to $1 trillion, cementing one of the largest executive pay arrangements in corporate history and reinforcing Musk's role in shaping the company's long-term strategic direction. The vote, held during Tesla's annual meeting in Austin, received support from approximately 75% of shareholders, even as influential proxy advisory firms urged investors to reject the plan. 
Tesla shareholders have voted to approve a compensation package for CEO Elon Musk valued at up to $1 trillion, cementing one of the largest executive pay arrangements in corporate history and reinforcing Musk's role in shaping the company's long-term strategic direction. The vote, held during Tesla's annual meeting in Austin, received support from approximately 75% of shareholders, even as influential proxy advisory firms urged investors to reject the plan. -
OpenAI’s $12B Quarterly Loss Highlights Cost of AI Race as Anthropic Forecasts $70B Sales by 2028
OpenAI is facing steep financial losses even as it seeks fresh capital and considers a public listing, while its rapidly rising rival Anthropic is forecasting aggressive revenue growth in the coming years. 
OpenAI is facing steep financial losses even as it seeks fresh capital and considers a public listing, while its rapidly rising rival Anthropic is forecasting aggressive revenue growth in the coming years. -
Toyota Recalls 1 Million Vehicles Over Rear-View Camera Failure, Affecting Toyota, Lexus and Subaru Models
Toyota Motor Corp. is recalling more than one million vehicles in the United States after regulators determined that a software defect in the rear-view camera system could cause the display to freeze or fail to appear, raising potential safety concerns. The recall spans Toyota, Lexus and Subaru models manufactured between 2022 and 2026, and affects a wide range of sedans, SUVs and electric vehicles across the companies' lineups. 
Toyota Motor Corp. is recalling more than one million vehicles in the United States after regulators determined that a software defect in the rear-view camera system could cause the display to freeze or fail to appear, raising potential safety concerns. The recall spans Toyota, Lexus and Subaru models manufactured between 2022 and 2026, and affects a wide range of sedans, SUVs and electric vehicles across the companies' lineups. -
Elon Musk’s Net Worth Falls $17.5 Billion as Major Investor Opposes Compensation Package
Tesla shares fell sharply in after-hours trading Tuesday after one of the company's most influential institutional investors rejected Elon Musk's proposed $1 trillion compensation package, raising new questions about governance, succession planning and the electric automaker's long-term direction. The decline in Tesla's stock price, which dropped more than 5% following the disclosure, reduced Musk's net worth by an estimated $17.5 billion, according to Bloomberg's Billionaires Index. 
Tesla shares fell sharply in after-hours trading Tuesday after one of the company's most influential institutional investors rejected Elon Musk's proposed $1 trillion compensation package, raising new questions about governance, succession planning and the electric automaker's long-term direction. The decline in Tesla's stock price, which dropped more than 5% following the disclosure, reduced Musk's net worth by an estimated $17.5 billion, according to Bloomberg's Billionaires Index. -
MacKenzie Scott Sells $12.6 Billion in Amazon Stock as Philanthropic Giving Surpasses $19 Billion
MacKenzie Scott has reduced her stake in Amazon by more than $12.5 billion, according to recent regulatory filings, marking one of the largest asset shifts since her divorce settlement from Amazon founder Jeff Bezos. The move coincides with a continued wave of philanthropic giving that has positioned Scott as one of the most influential private donors in the United States. 
MacKenzie Scott has reduced her stake in Amazon by more than $12.5 billion, according to recent regulatory filings, marking one of the largest asset shifts since her divorce settlement from Amazon founder Jeff Bezos. The move coincides with a continued wave of philanthropic giving that has positioned Scott as one of the most influential private donors in the United States. -
Starbucks Hands Majority of China Stores to Boyu Capital in $4 Billion Shift Toward Local Strategy
Starbucks is reorganizing its business in China, transferring majority control of its extensive retail network to private equity firm Boyu Capital as the U.S. coffee chain confronts slowing sales and intensifying competition in the world's second-largest consumer market. The move marks one of the most significant strategic pivots the company has made since entering China more than two decades ago, reflecting the challenges of adapting to rapidly evolving local tastes and rising homegrown rivals. 
Starbucks is reorganizing its business in China, transferring majority control of its extensive retail network to private equity firm Boyu Capital as the U.S. coffee chain confronts slowing sales and intensifying competition in the world's second-largest consumer market. The move marks one of the most significant strategic pivots the company has made since entering China more than two decades ago, reflecting the challenges of adapting to rapidly evolving local tastes and rising homegrown rivals. -
IBM to Cut Thousands of Jobs as Company Accelerates Shift to AI and Cloud Services
IBM is preparing to eliminate thousands of jobs across its global workforce as the company accelerates a strategic shift toward cloud computing and artificial intelligence platforms, according to reports. The reductions are expected to affect a "low single-digit percentage" of IBM's roughly 270,000 employees worldwide, marking one of the largest staffing adjustments the company has taken since realigning its business structure around software and hybrid cloud services. 
IBM is preparing to eliminate thousands of jobs across its global workforce as the company accelerates a strategic shift toward cloud computing and artificial intelligence platforms, according to reports. The reductions are expected to affect a "low single-digit percentage" of IBM's roughly 270,000 employees worldwide, marking one of the largest staffing adjustments the company has taken since realigning its business structure around software and hybrid cloud services. -
Shein’s Fast-Fashion Battle in France Intensifies as Sex Doll Scandal Triggers Government Threat
Chinese fast-fashion giant Shein is facing one of its fiercest political storms yet in Europe after French authorities threatened to block the company's platform over the alleged sale of sex dolls with "childlike" features. The controversy erupted just days before Shein is set to open its first-ever physical store in Paris, intensifying France's growing backlash against the retailer's aggressive expansion. 
Chinese fast-fashion giant Shein is facing one of its fiercest political storms yet in Europe after French authorities threatened to block the company's platform over the alleged sale of sex dolls with "childlike" features. The controversy erupted just days before Shein is set to open its first-ever physical store in Paris, intensifying France's growing backlash against the retailer's aggressive expansion.
