Jonathan Wong
The Latest
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Goldman Sachs Expresses Regret Over Apple Card Partnership
Goldman Sachs, a leading global investment banking, securities, and investment management firm, has reportedly been grappling with its decision to partner with Apple on the Apple Card. The bank's venture into the consumer finance sector, particularly with the Apple Card, has been marked by significant financial losses and operational challenges. 
Goldman Sachs, a leading global investment banking, securities, and investment management firm, has reportedly been grappling with its decision to partner with Apple on the Apple Card. The bank's venture into the consumer finance sector, particularly with the Apple Card, has been marked by significant financial losses and operational challenges. -
Sam Bankman-Fried's ADHD Medication Controversy Takes Center Stage in FTX Fraud Trial
In a recent development surrounding the FTX fraud trial, Sam Bankman-Fried's legal team has raised concerns about their client's ability to meaningfully participate in the trial due to a lack of access to his prescribed ADHD medication, Adderall. The defense asserts that without the medication, Bankman-Fried, the founder of the cryptocurrency exchange FTX, struggles to concentrate during court proceedings, potentially compromising his ability to defend himself. 
In a recent development surrounding the FTX fraud trial, Sam Bankman-Fried's legal team has raised concerns about their client's ability to meaningfully participate in the trial due to a lack of access to his prescribed ADHD medication, Adderall. The defense asserts that without the medication, Bankman-Fried, the founder of the cryptocurrency exchange FTX, struggles to concentrate during court proceedings, potentially compromising his ability to defend himself. -
Rite Aid Files for Bankruptcy Amid Mounting Debt and Legal Troubles
In a significant development for the retail pharmacy industry, Rite Aid Corp, one of the nation's most recognized drugstore chains, has filed for Chapter 11 bankruptcy protection. This move comes as the company grapples with a challenging environment for drug stores, intensified by its secondary status to larger chains and costly legal battles over allegations of filling unlawful opioid prescriptions. 
In a significant development for the retail pharmacy industry, Rite Aid Corp, one of the nation's most recognized drugstore chains, has filed for Chapter 11 bankruptcy protection. This move comes as the company grapples with a challenging environment for drug stores, intensified by its secondary status to larger chains and costly legal battles over allegations of filling unlawful opioid prescriptions. -
U.S. Tightens Grip on AI Chip Exports to China Amid National Security Concerns
In a move that underscores the escalating technological rivalry between the U.S. and China, the U.S. government is poised to roll out new regulations aimed at curbing American chipmakers from selling certain artificial intelligence (AI) chips to China. This initiative is designed to bolster export controls and safeguard national security. 
In a move that underscores the escalating technological rivalry between the U.S. and China, the U.S. government is poised to roll out new regulations aimed at curbing American chipmakers from selling certain artificial intelligence (AI) chips to China. This initiative is designed to bolster export controls and safeguard national security. -
Ferrari Embraces the Future: Luxury Carmaker to Accept Cryptocurrency Payments in the U.S.
Ferrari has announced its decision to accept cryptocurrency as a valid form of payment for its vehicles in the United States. This groundbreaking decision positions Ferrari at the forefront of luxury brands embracing the digital currency revolution. 
Ferrari has announced its decision to accept cryptocurrency as a valid form of payment for its vehicles in the United States. This groundbreaking decision positions Ferrari at the forefront of luxury brands embracing the digital currency revolution. -
UAW Strikes Signal a New Phase in Detroit Automakers' Relations
The United Auto Workers (UAW) union's recent strikes against Detroit's Big Three automakers - Ford, General Motors, and Stellantis - have ushered in a new era of labor relations, marked by heightened tensions and significant challenges for both sides. 
The United Auto Workers (UAW) union's recent strikes against Detroit's Big Three automakers - Ford, General Motors, and Stellantis - have ushered in a new era of labor relations, marked by heightened tensions and significant challenges for both sides. -
Medicare Part B Premiums to Increase by $9.80 in 2024: Here's What You Need to Know
In a move that will affect nearly 66 million Americans, the Centers for Medicare & Medicaid Services (CMS) has announced an increase in the standard monthly premium for Medicare Part B for 2024. This decision comes amidst a backdrop of rising healthcare costs and the introduction of new medical treatments. 
In a move that will affect nearly 66 million Americans, the Centers for Medicare & Medicaid Services (CMS) has announced an increase in the standard monthly premium for Medicare Part B for 2024. This decision comes amidst a backdrop of rising healthcare costs and the introduction of new medical treatments. -
U.S. Tax Gap Swells to $688 Billion, Prompting IRS to Intensify Compliance Efforts
The U.S. tax gap, representing the difference between taxes owed and those paid on time, has surged to an alarming $688 billion for the tax year 2021. This figure marks a significant leap from previous estimates, reflecting an increase of over $192 billion from the 2014-2016 period and a rise of $138 billion from the revised projections for 2017-2019. The Internal Revenue Service (IRS) has now shifted to providing tax gap projections annually, with 2021 being the inaugural year for such single-year estimates. 
The U.S. tax gap, representing the difference between taxes owed and those paid on time, has surged to an alarming $688 billion for the tax year 2021. This figure marks a significant leap from previous estimates, reflecting an increase of over $192 billion from the 2014-2016 period and a rise of $138 billion from the revised projections for 2017-2019. The Internal Revenue Service (IRS) has now shifted to providing tax gap projections annually, with 2021 being the inaugural year for such single-year estimates. -
Microsoft's $69 Billion Acquisition of Activision Blizzard Gets the Green Light from UK Regulator
Microsoft's proposed $69 billion takeover of gaming firm Activision Blizzard has been approved by Britain's top competition watchdog, the Competition and Markets Authority (CMA). This decision marks the removal of the last major regulatory hurdle, paving the way for the deal to close. 
Microsoft's proposed $69 billion takeover of gaming firm Activision Blizzard has been approved by Britain's top competition watchdog, the Competition and Markets Authority (CMA). This decision marks the removal of the last major regulatory hurdle, paving the way for the deal to close. -
Montana's TikTok Ban Faces Judicial Scrutiny Amidst Broader Concerns
Montana's decision to ban the popular video-sharing app TikTok is now under judicial review. U.S. District Judge Donald Molloy of Missoula is set to hear arguments from both TikTok and five Montana-based content creators who are challenging the state's decision. The primary contention is the potential infringement on free speech rights and the economic implications for local businesses that rely on the platform. 
Montana's decision to ban the popular video-sharing app TikTok is now under judicial review. U.S. District Judge Donald Molloy of Missoula is set to hear arguments from both TikTok and five Montana-based content creators who are challenging the state's decision. The primary contention is the potential infringement on free speech rights and the economic implications for local businesses that rely on the platform.
