Jonathan Wong
The Latest
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WeWork Hits Bankruptcy Button in Major Corporate Downfall
In a decisive turn of events that punctuates the volatile journey of WeWork, the coworking pioneer has sought bankruptcy protection, signaling the waning of what was once the United States' most highly valued startup. With a former valuation soaring at $47 billion, the SoftBank-backed entity's chapter 11 filing underscores a stark retreat from its lofty ambitions. 
In a decisive turn of events that punctuates the volatile journey of WeWork, the coworking pioneer has sought bankruptcy protection, signaling the waning of what was once the United States' most highly valued startup. With a former valuation soaring at $47 billion, the SoftBank-backed entity's chapter 11 filing underscores a stark retreat from its lofty ambitions. -
Musk's xAI Launches Grok, the Witty AI with a Rebellious Edge
Amidst the competitive surge in AI innovation, Elon Musk's xAI has introduced Grok, a new AI chatbot promising a snarky demeanor and the audacity to tackle queries shunned by its counterparts. In a recent revelation, Musk described Grok as a platform brimming with humor and a streak of rebellion, ready to respond to the "spicy questions" that most AI systems would typically avoid. 
Amidst the competitive surge in AI innovation, Elon Musk's xAI has introduced Grok, a new AI chatbot promising a snarky demeanor and the audacity to tackle queries shunned by its counterparts. In a recent revelation, Musk described Grok as a platform brimming with humor and a streak of rebellion, ready to respond to the "spicy questions" that most AI systems would typically avoid. -
Citigroup's "Project Bora Bora" Braces for Significant Job Cuts
CEO Jane Fraser, spearheading the ambitious "Project Bora Bora," has set the financial community abuzz with the prospect of at least 10% cuts in several of the bank's major businesses. The exact scale of the layoffs will be clearer with the bank's financial update slated for January alongside its fourth-quarter earnings. 
CEO Jane Fraser, spearheading the ambitious "Project Bora Bora," has set the financial community abuzz with the prospect of at least 10% cuts in several of the bank's major businesses. The exact scale of the layoffs will be clearer with the bank's financial update slated for January alongside its fourth-quarter earnings. -
Singapore's Biggest Bank DBS Group Rides High-Interest Wave to Surpass Earnings Forecasts
DBS Group Holdings Ltd, Southeast Asia's paramount banking institution, outshone expectations with an impressive 17% upsurge in third-quarter net profits. The Singapore-based bank leveraged the buoyant high-interest rate environment to secure a robust net profit of S$2.63 billion ($1.94 billion), eclipsing the forecasts of industry analysts who had anticipated S$2.5 billion for the period. 
DBS Group Holdings Ltd, Southeast Asia's paramount banking institution, outshone expectations with an impressive 17% upsurge in third-quarter net profits. The Singapore-based bank leveraged the buoyant high-interest rate environment to secure a robust net profit of S$2.63 billion ($1.94 billion), eclipsing the forecasts of industry analysts who had anticipated S$2.5 billion for the period. -
Tyson Foods Recalls Dino Nuggets Over Metal Contamination Concerns
In a move causing ripples through grocery aisles and family freezers, Tyson Foods has issued a recall for roughly 30,000 pounds of their dino-shaped chicken nuggets. The voluntary recall follows reports that the popular snack might contain fragments of metal, posing a potential hazard to consumers. 
In a move causing ripples through grocery aisles and family freezers, Tyson Foods has issued a recall for roughly 30,000 pounds of their dino-shaped chicken nuggets. The voluntary recall follows reports that the popular snack might contain fragments of metal, posing a potential hazard to consumers. -
UAW Strike Update: GM to Pour $13 Billion into U.S. Electric Vehicle Future, UAW Scores Historic Wage Hike
In an ambitious leap toward the future of electric vehicles (EVs), General Motors has unveiled plans to invest approximately $13 billion in U.S. facilities by April 2028, according to the United Auto Workers (UAW) union's recent tentative deal disclosure. This strategic move not only underscores GM's commitment to electric innovation but also exemplifies the union's leverage in securing unprecedented economic gains for auto workers. 
In an ambitious leap toward the future of electric vehicles (EVs), General Motors has unveiled plans to invest approximately $13 billion in U.S. facilities by April 2028, according to the United Auto Workers (UAW) union's recent tentative deal disclosure. This strategic move not only underscores GM's commitment to electric innovation but also exemplifies the union's leverage in securing unprecedented economic gains for auto workers. -
Berkshire Hathaway's Earnings Surge Amid Record Cash Reserves
Warren Buffett's financial powerhouse, Berkshire Hathaway, has delivered a robust performance with a significant uptick in operating earnings, rising by 40% in the third quarter, despite facing an immense investment loss mainly due to a downturn in its substantial Apple holdings. 
Warren Buffett's financial powerhouse, Berkshire Hathaway, has delivered a robust performance with a significant uptick in operating earnings, rising by 40% in the third quarter, despite facing an immense investment loss mainly due to a downturn in its substantial Apple holdings. -
Maersk Faces Downturn in Shipping, Plans to Cut 10,000 Jobs Amid Losses
The container shipping market's prosperity continues to decline, with several shipping companies experiencing quarterly losses. By the third quarter, industry giant Maersk could no longer withstand the downturn. 
The container shipping market's prosperity continues to decline, with several shipping companies experiencing quarterly losses. By the third quarter, industry giant Maersk could no longer withstand the downturn. -
U.S. Job Growth Stumbles as Economic Uncertainty Weighs on Employers
As the chill of economic headwinds sweeps across the United States, the labor market has shown signs of entering a winter season. In October, U.S. employers expanded their payrolls by a modest 150,000 jobs, falling short of economists' forecasts and hinting at a potential cooling period after a year of robust post-pandemic recovery. 
As the chill of economic headwinds sweeps across the United States, the labor market has shown signs of entering a winter season. In October, U.S. employers expanded their payrolls by a modest 150,000 jobs, falling short of economists' forecasts and hinting at a potential cooling period after a year of robust post-pandemic recovery. -
Biden Seeks Obama’s Insight on AI Oversight
In an unprecedented collaboration, President Joe Biden has sought the counsel of his predecessor, Barack Obama, in forging a comprehensive strategy to navigate the intricacies of artificial intelligence (AI). This consultation has unfolded discreetly over five months, culminating in Biden signing an executive order to establish government oversight of AI. 
In an unprecedented collaboration, President Joe Biden has sought the counsel of his predecessor, Barack Obama, in forging a comprehensive strategy to navigate the intricacies of artificial intelligence (AI). This consultation has unfolded discreetly over five months, culminating in Biden signing an executive order to establish government oversight of AI.
