Jonathan Wong
The Latest
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Zuckerberg Testifies in FTC Trial as Meta Faces Breakup Over Instagram, WhatsApp Deals
Meta CEO Mark Zuckerberg defended his company's past acquisitions in federal court Monday, as the Federal Trade Commission opened its landmark antitrust trial accusing the social media giant of illegally monopolizing the personal social networking market. The case, underway in the U.S. District Court for the District of Columbia, focuses on Meta's acquisitions of Instagram and WhatsApp, and threatens to dismantle a core part of its business if the FTC prevails. 
Meta CEO Mark Zuckerberg defended his company's past acquisitions in federal court Monday, as the Federal Trade Commission opened its landmark antitrust trial accusing the social media giant of illegally monopolizing the personal social networking market. The case, underway in the U.S. District Court for the District of Columbia, focuses on Meta's acquisitions of Instagram and WhatsApp, and threatens to dismantle a core part of its business if the FTC prevails. -
Pfizer Scraps Oral GLP-1 Drug Danuglipron as Safety Setback Derails Obesity Ambitions
Pfizer said Monday it will halt development of its once-daily obesity pill danuglipron following a safety concern identified in early-stage testing, marking another setback in the company's push to enter the lucrative weight loss drug market dominated by rivals Eli Lilly and Novo Nordisk. The decision comes after a patient in a clinical trial experienced a potential drug-induced liver injury that resolved after the treatment was discontinued. 
Pfizer said Monday it will halt development of its once-daily obesity pill danuglipron following a safety concern identified in early-stage testing, marking another setback in the company's push to enter the lucrative weight loss drug market dominated by rivals Eli Lilly and Novo Nordisk. The decision comes after a patient in a clinical trial experienced a potential drug-induced liver injury that resolved after the treatment was discontinued. -
Goldman Cashes In on Market Turmoil, But Warns of ‘Markedly Different’ Quarter Ahead
Goldman Sachs reported a 15% rise in first-quarter profits to $4.74 billion, as the bank's trading unit capitalized on stock market volatility triggered by escalating tariff announcements from President Donald Trump. Total revenue climbed 6% to $15.06 billion, exceeding analyst expectations, though softness in investment banking signaled growing strain across Wall Street's dealmaking landscape. 
Goldman Sachs reported a 15% rise in first-quarter profits to $4.74 billion, as the bank's trading unit capitalized on stock market volatility triggered by escalating tariff announcements from President Donald Trump. Total revenue climbed 6% to $15.06 billion, exceeding analyst expectations, though softness in investment banking signaled growing strain across Wall Street's dealmaking landscape. -
Chinese Amazon Sellers to Raise Prices or Exit U.S. Market as Trump Tariffs Hit 125%
Chinese merchants operating on Amazon are preparing to raise prices or withdraw from the U.S. market in response to President Donald Trump's latest tariff hike, which raised duties on Chinese imports to 125%, escalating trade tensions between the world's two largest economies. 
Chinese merchants operating on Amazon are preparing to raise prices or withdraw from the U.S. market in response to President Donald Trump's latest tariff hike, which raised duties on Chinese imports to 125%, escalating trade tensions between the world's two largest economies. -
Apple Airlifts 1.5 Million iPhones From India to Dodge Trump’s 125% China Tariffs
Apple Inc. chartered cargo flights to airlift roughly 600 tons-or as many as 1.5 million-iPhones from India to the United States in a strategic move to preempt steep tariffs imposed by President Donald Trump on Chinese imports, according to sources familiar with the operation. 
Apple Inc. chartered cargo flights to airlift roughly 600 tons-or as many as 1.5 million-iPhones from India to the United States in a strategic move to preempt steep tariffs imposed by President Donald Trump on Chinese imports, according to sources familiar with the operation. -
Trump's Pharma Tariff Threat Sinks Global Drug Stocks as Market Faces Regulatory Jitters
Global pharmaceutical stocks fell sharply Wednesday after President Donald Trump reiterated plans to impose a "major" tariff on drug imports, escalating fears across an industry already grappling with regulatory uncertainty and weakening investor confidence. The announcement came as Trump's broader reciprocal tariff regime took effect, further roiling international markets. 
Global pharmaceutical stocks fell sharply Wednesday after President Donald Trump reiterated plans to impose a "major" tariff on drug imports, escalating fears across an industry already grappling with regulatory uncertainty and weakening investor confidence. The announcement came as Trump's broader reciprocal tariff regime took effect, further roiling international markets. -
Delta Warns of Stalled Growth, Slashes Forecasts as Trump Tariffs Shake Travel Demand
Delta Air Lines withdrew its 2025 financial guidance on Wednesday and warned of deteriorating travel demand in the face of escalating global trade tensions triggered by President Donald Trump's tariff regime. CEO Ed Bastian cited "broad economic uncertainty around global trade" as a primary reason for halting expansion plans and signaling potential recessionary pressures. 
Delta Air Lines withdrew its 2025 financial guidance on Wednesday and warned of deteriorating travel demand in the face of escalating global trade tensions triggered by President Donald Trump's tariff regime. CEO Ed Bastian cited "broad economic uncertainty around global trade" as a primary reason for halting expansion plans and signaling potential recessionary pressures. -
Apple Shares Plunge as Trump Tariffs Set to Hit 104%; iPhone Prices Could Soar by $350
Apple Inc. shares tumbled on Tuesday after the Trump administration confirmed it will implement a 104% tariff on goods imported from China beginning Wednesday, a move that could drastically inflate iPhone prices and squeeze the company's margins. The announcement sent Apple stock sliding after an early rally, closing deep in negative territory amid a broader tech sector sell-off. 
Apple Inc. shares tumbled on Tuesday after the Trump administration confirmed it will implement a 104% tariff on goods imported from China beginning Wednesday, a move that could drastically inflate iPhone prices and squeeze the company's margins. The announcement sent Apple stock sliding after an early rally, closing deep in negative territory amid a broader tech sector sell-off. -
Walgreens Beats Estimates, Reports $38.6 Billion in Revenue as It Prepares for $10 Billion Sycamore Buyout
Walgreens Boots Alliance reported stronger-than-expected second-quarter earnings Tuesday as the pharmacy chain accelerated cost-cutting measures and prepared for a $10 billion acquisition by private equity firm Sycamore Partners. The company also announced it is withdrawing its fiscal 2025 guidance amid preparations to go private later this year. 
Walgreens Boots Alliance reported stronger-than-expected second-quarter earnings Tuesday as the pharmacy chain accelerated cost-cutting measures and prepared for a $10 billion acquisition by private equity firm Sycamore Partners. The company also announced it is withdrawing its fiscal 2025 guidance amid preparations to go private later this year. -
Facing Tariff Surge, Apple Moves Five Cargo Planes of iPhones to U.S. in 72 Hours - Report
Apple rushed five cargo planes loaded with iPhones and other products from India and China to the United States in the final days of March, part of a fast-paced strategy to avoid a 10% reciprocal tariff imposed by the Trump administration that took effect April 5, according to senior Indian officials and industry sources familiar with the matter. 
Apple rushed five cargo planes loaded with iPhones and other products from India and China to the United States in the final days of March, part of a fast-paced strategy to avoid a 10% reciprocal tariff imposed by the Trump administration that took effect April 5, according to senior Indian officials and industry sources familiar with the matter.
