Jonathan Wong
The Latest
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SEC Drops Lawsuit Against Coinbase as Trump Administration Signals Crypto-Friendly Shift
The Securities and Exchange Commission has agreed to drop its enforcement case against Coinbase, the largest U.S.-based cryptocurrency exchange, in a move that signals a major shift in regulatory policy under the Trump administration. The decision, which is pending final approval from SEC commissioners, follows intense scrutiny of the agency's handling of crypto regulations during the Biden administration. 
The Securities and Exchange Commission has agreed to drop its enforcement case against Coinbase, the largest U.S.-based cryptocurrency exchange, in a move that signals a major shift in regulatory policy under the Trump administration. The decision, which is pending final approval from SEC commissioners, follows intense scrutiny of the agency's handling of crypto regulations during the Biden administration. -
UnitedHealth Faces DOJ Fraud Probe, Layoffs, and Stock Plunge in Escalating Crisis
UnitedHealth Group is facing mounting legal and financial challenges as the U.S. Department of Justice (DOJ) investigates its Medicare billing practices, while the company implements employee buyouts and potential layoffs to cut costs. The developments come amid a tumultuous period for the health insurance giant, which has also been hit by a high-profile cyberattack and criticism from prominent investors. 
UnitedHealth Group is facing mounting legal and financial challenges as the U.S. Department of Justice (DOJ) investigates its Medicare billing practices, while the company implements employee buyouts and potential layoffs to cut costs. The developments come amid a tumultuous period for the health insurance giant, which has also been hit by a high-profile cyberattack and criticism from prominent investors. -
Alibaba Shares Surge 11% as Cloud and E-Commerce Drive Profit Growth
Alibaba shares climbed more than 11% in premarket trading Thursday, as the Chinese e-commerce giant posted stronger-than-expected earnings, driven by a rebound in cloud services and international sales. The company reported net income of 48.95 billion yuan ($6.72 billion) for the quarter ending December 31, exceeding analyst expectations of 40.6 billion yuan. Revenue rose 8% to 280.15 billion yuan ($38.6 billion), the fastest pace of growth in over a year. 
Alibaba shares climbed more than 11% in premarket trading Thursday, as the Chinese e-commerce giant posted stronger-than-expected earnings, driven by a rebound in cloud services and international sales. The company reported net income of 48.95 billion yuan ($6.72 billion) for the quarter ending December 31, exceeding analyst expectations of 40.6 billion yuan. Revenue rose 8% to 280.15 billion yuan ($38.6 billion), the fastest pace of growth in over a year. -
Walmart Shares Fall 8% After Forecast Signals Slower Profit Growth
Walmart shares fell sharply Thursday after the retailer issued a cautious profit outlook for its fiscal year, despite reporting stronger-than-expected holiday quarter results and robust e-commerce growth. The company's stock dropped 8% in premarket trading as investors reacted to guidance that suggested slower earnings expansion ahead. 
Walmart shares fell sharply Thursday after the retailer issued a cautious profit outlook for its fiscal year, despite reporting stronger-than-expected holiday quarter results and robust e-commerce growth. The company's stock dropped 8% in premarket trading as investors reacted to guidance that suggested slower earnings expansion ahead. -
HSBC Announces $2 Billion Buyback as Profit Rises 6.5%
HSBC Holdings PLC reported a 6.5% rise in annual pre-tax profit to $32.3 billion on Wednesday, as the London-based lender benefited from the sale of its Canadian banking unit. The bank also announced a $2 billion share buyback, which it expects to complete by the first quarter of 2025, and outlined plans to cut costs by an annualized $1.5 billion by the end of 2026. 
HSBC Holdings PLC reported a 6.5% rise in annual pre-tax profit to $32.3 billion on Wednesday, as the London-based lender benefited from the sale of its Canadian banking unit. The bank also announced a $2 billion share buyback, which it expects to complete by the first quarter of 2025, and outlined plans to cut costs by an annualized $1.5 billion by the end of 2026. -
Nikola Files for Bankruptcy as EV Industry Woes Deepen
Nikola Corp., the once high-flying electric vehicle startup that briefly surpassed Ford Motor Co. in market value, has filed for Chapter 11 bankruptcy protection after failing to secure a buyer or raise enough capital to sustain operations. The filing, made Wednesday in Delaware, lists assets between $500 million and $1 billion, while liabilities range between $1 billion and $10 billion, according to court documents. 
Nikola Corp., the once high-flying electric vehicle startup that briefly surpassed Ford Motor Co. in market value, has filed for Chapter 11 bankruptcy protection after failing to secure a buyer or raise enough capital to sustain operations. The filing, made Wednesday in Delaware, lists assets between $500 million and $1 billion, while liabilities range between $1 billion and $10 billion, according to court documents. -
Restaurant Giant Yum Brands Reshapes Headquarters, Moves KFC Hub to Texa
KFC is moving its U.S. headquarters from Louisville, Kentucky, to Plano, Texas, parent company Yum Brands announced Tuesday. About 100 KFC U.S. employees will need to relocate in the coming six months, and another 90 remote workers will also be asked to move in the next year and a half. Yum, which owns KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill, is consolidating two corporate campuses: Plano for KFC and Pizza Hut, and Irvine, California, for Taco Bell and The Habit Burger Grill. 
KFC is moving its U.S. headquarters from Louisville, Kentucky, to Plano, Texas, parent company Yum Brands announced Tuesday. About 100 KFC U.S. employees will need to relocate in the coming six months, and another 90 remote workers will also be asked to move in the next year and a half. Yum, which owns KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill, is consolidating two corporate campuses: Plano for KFC and Pizza Hut, and Irvine, California, for Taco Bell and The Habit Burger Grill. -
Intel Stock Surges 13% as Broadcom, TSMC Consider Breakup Deals
Intel shares surged 13% on Tuesday following reports that Broadcom Inc. and Taiwan Semiconductor Manufacturing Co. (TSMC) are considering deals that could lead to the breakup of the chipmaker. The Wall Street Journal, citing people familiar with the matter, reported that Broadcom is exploring a bid for Intel's semiconductor design and marketing division, while TSMC is evaluating a stake or full acquisition of Intel's manufacturing operations. 
Intel shares surged 13% on Tuesday following reports that Broadcom Inc. and Taiwan Semiconductor Manufacturing Co. (TSMC) are considering deals that could lead to the breakup of the chipmaker. The Wall Street Journal, citing people familiar with the matter, reported that Broadcom is exploring a bid for Intel's semiconductor design and marketing division, while TSMC is evaluating a stake or full acquisition of Intel's manufacturing operations. -
Delta Flight Crash-Lands in Toronto, Flips Upside Down
A Delta Air Lines flight from Minneapolis experienced a serious incident upon landing at Toronto Pearson International Airport on Monday, with images circulating online showing the aircraft flipped upside down on a snow-covered runway. 
A Delta Air Lines flight from Minneapolis experienced a serious incident upon landing at Toronto Pearson International Airport on Monday, with images circulating online showing the aircraft flipped upside down on a snow-covered runway. -
IRS to Cut Thousands of Employees Amid Workforce Reductions, Raising Concerns for 2025 Tax Season
The Internal Revenue Service is preparing to lay off thousands of employees as part of a broader federal workforce reduction under the Trump administration, potentially straining the agency during the ongoing tax-filing season, according to multiple sources familiar with the matter. 
The Internal Revenue Service is preparing to lay off thousands of employees as part of a broader federal workforce reduction under the Trump administration, potentially straining the agency during the ongoing tax-filing season, according to multiple sources familiar with the matter.
