Jonathan Wong
The Latest
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Costco Sues Trump Administration as $90 Billion Tariff Battle Reaches Supreme Court
Costco Wholesale Corp. has moved to protect itself from potentially unrecoverable tariff costs, filing suit against the Trump administration and arguing that the sweeping import duties imposed under the International Emergency Economic Powers Act were unlawful. The complaint, lodged Nov. 28 in the U.S. Court of International Trade, seeks assurance that the company will receive a "complete refund" if the Supreme Court strikes down President Donald Trump's tariff program. The filing underscores fears among major importers that without litigation, they may be excluded from any eventual refund process. 
Costco Wholesale Corp. has moved to protect itself from potentially unrecoverable tariff costs, filing suit against the Trump administration and arguing that the sweeping import duties imposed under the International Emergency Economic Powers Act were unlawful. The complaint, lodged Nov. 28 in the U.S. Court of International Trade, seeks assurance that the company will receive a "complete refund" if the Supreme Court strikes down President Donald Trump's tariff program. The filing underscores fears among major importers that without litigation, they may be excluded from any eventual refund process. -
AT&T Data Breach Settlement Offers up to $7,500 as Millions Check Eligibility Before 2025 Deadline
AT&T's agreement to pay $177 million in a nationwide class-action settlement has set off a wave of inquiries from current and former customers seeking to determine whether they qualify for payments that could reach as high as $7,500. The settlement, tied to two major data breaches disclosed in 2024, covers tens of millions of people whose personal information or call-metadata records were exposed as litigation mounted against one of the nation's largest telecommunications providers. 
AT&T's agreement to pay $177 million in a nationwide class-action settlement has set off a wave of inquiries from current and former customers seeking to determine whether they qualify for payments that could reach as high as $7,500. The settlement, tied to two major data breaches disclosed in 2024, covers tens of millions of people whose personal information or call-metadata records were exposed as litigation mounted against one of the nation's largest telecommunications providers. -
Airbus Shares Drop 10% as New A320 Fuselage Defect Threatens Year-End Deliveries
Airbus suffered one of its sharpest market setbacks of the year on Monday as shares fell nearly 10% after the planemaker confirmed a new quality issue affecting fuselage panels on several dozen A320-family aircraft. The disclosure, first reported by Reuters, came as Airbus enters a critical year-end delivery push and faces heightened scrutiny following recent software-related fleet disruptions across global airlines. 
Airbus suffered one of its sharpest market setbacks of the year on Monday as shares fell nearly 10% after the planemaker confirmed a new quality issue affecting fuselage panels on several dozen A320-family aircraft. The disclosure, first reported by Reuters, came as Airbus enters a critical year-end delivery push and faces heightened scrutiny following recent software-related fleet disruptions across global airlines. -
Amazon Faces Worker Revolt as AI Expansion Sparks Job-Loss and Climate Warnings
Amazon's rapid expansion into artificial intelligence has triggered unusually broad internal dissent, as more than a thousand employees warned that the company's aggressive rollout of AI could accelerate layoffs, undermine climate commitments and expand surveillance capabilities. The pushback comes as Amazon plans major data-center investments to support AI tools, prompting workers to argue that the strategy ignores both environmental risks and the human cost of automation. 
Amazon's rapid expansion into artificial intelligence has triggered unusually broad internal dissent, as more than a thousand employees warned that the company's aggressive rollout of AI could accelerate layoffs, undermine climate commitments and expand surveillance capabilities. The pushback comes as Amazon plans major data-center investments to support AI tools, prompting workers to argue that the strategy ignores both environmental risks and the human cost of automation. -
EU Targets Shein After France Uncovers Child-Like Sex Dolls and Banned Weapons on Platform
European lawmakers are intensifying scrutiny of global fast-fashion retailer Shein after French authorities discovered listings for "child-like" sex dolls and illegal weapons on the company's online marketplace. The findings prompted immediate legal action in France and triggered a wider political push in Brussels to determine whether Shein violated the European Union's Digital Services Act, the sweeping regulatory framework governing online platforms with tens of millions of users. 
European lawmakers are intensifying scrutiny of global fast-fashion retailer Shein after French authorities discovered listings for "child-like" sex dolls and illegal weapons on the company's online marketplace. The findings prompted immediate legal action in France and triggered a wider political push in Brussels to determine whether Shein violated the European Union's Digital Services Act, the sweeping regulatory framework governing online platforms with tens of millions of users. -
Foxconn Secures $16 Million Incentive as U.S. Accelerates Chip Shield Strategy Amid China–Taiwan Tensions
The Wisconsin Economic Development Corporation approved up to $16 million in new incentives for Foxconn as the United States intensifies efforts to build a more resilient semiconductor supply chain amid rising security concerns involving China and Taiwan. The award, announced November 25, supports the Taiwanese manufacturer's plan to invest an additional $569 million in Racine County and create 1,374 jobs over four years, expanding Foxconn's role in America's semiconductor and electronics manufacturing footprint. 
The Wisconsin Economic Development Corporation approved up to $16 million in new incentives for Foxconn as the United States intensifies efforts to build a more resilient semiconductor supply chain amid rising security concerns involving China and Taiwan. The award, announced November 25, supports the Taiwanese manufacturer's plan to invest an additional $569 million in Racine County and create 1,374 jobs over four years, expanding Foxconn's role in America's semiconductor and electronics manufacturing footprint. -
HP to Cut Up to 6,000 Jobs, Target £800 Million in Savings as AI Restructuring Accelerates
HP Inc. announced a sweeping restructuring plan that will eliminate between 4,000 and 6,000 positions worldwide by the end of its 2028 fiscal year, marking one of the company's most significant workforce reductions in years as it accelerates investment in artificial intelligence. The initiative is designed to generate roughly £800 million-about $1 billion-in gross run-rate savings within three years, part of a broader pivot toward AI-driven operations and products. 
HP Inc. announced a sweeping restructuring plan that will eliminate between 4,000 and 6,000 positions worldwide by the end of its 2028 fiscal year, marking one of the company's most significant workforce reductions in years as it accelerates investment in artificial intelligence. The initiative is designed to generate roughly £800 million-about $1 billion-in gross run-rate savings within three years, part of a broader pivot toward AI-driven operations and products. -
Apple Cuts Institutional Sales Roles as U.S. Budget Shifts and Tech Layoffs Spread
Apple Inc. has initiated a round of layoffs inside its global sales organization, targeting roles tied to institutional clients across enterprise, education and government markets, according to employees familiar with the changes. The move-unusual for a company historically reluctant to make public staff cuts-comes as the iPhone maker restructures how it engages major customers amid shifting government spending and a broader slowdown across the tech sector. 
Apple Inc. has initiated a round of layoffs inside its global sales organization, targeting roles tied to institutional clients across enterprise, education and government markets, according to employees familiar with the changes. The move-unusual for a company historically reluctant to make public staff cuts-comes as the iPhone maker restructures how it engages major customers amid shifting government spending and a broader slowdown across the tech sector. -
Amazon Recall Triggers Urgent Warning as Regulators Flag Deadly Risks in Two Children’s Products
Federal safety regulators have issued an urgent nationwide alert over two children's products sold on Amazon, warning that both items pose significant risks of injury or death. The U.S. Consumer Product Safety Commission (CPSC) announced the recall in November, targeting a fabric dresser and a baby play yard that were sold through Amazon's online marketplace and reached households across the country. Federal safety regulators have issued an urgent nationwide alert over two children's products sold on Amazon, warning that both items pose significant risks of injury or death. The U.S. Consumer Product Safety Commission (CPSC) announced the recall in November, targeting a fabric dresser and a baby play yard that were sold through Amazon's online marketplace and reached households across the country. -
Nvidia’s $300 Billion Backlog Fuels Market Rally—but AMD and Broadcom Close In
Nvidia's position atop the global AI semiconductor market is facing its most meaningful pressure yet as rival chipmakers accelerate investment, win new contracts and narrow long-standing performance gaps. The company's latest earnings report, which showed a 62% year-over-year revenue jump to $57 billion, triggered another surge in its share price and pushed Wall Street's fourth-quarter forecasts toward $65 billion. 
Nvidia's position atop the global AI semiconductor market is facing its most meaningful pressure yet as rival chipmakers accelerate investment, win new contracts and narrow long-standing performance gaps. The company's latest earnings report, which showed a 62% year-over-year revenue jump to $57 billion, triggered another surge in its share price and pushed Wall Street's fourth-quarter forecasts toward $65 billion.
