Jonathan Wong
The Latest
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Russia's Central Bank Pauses Foreign Exchange Purchases, Bolstering the Ruble
On Wednesday, Russia's Central Bank announced in a statement that it will halt the purchase of foreign currency in the domestic market until the end of 2023, starting from August 10, in an effort to reduce financial market volatility. Decisions on resuming these foreign exchange purchases will be made based on the actual conditions of the financial markets. 
On Wednesday, Russia's Central Bank announced in a statement that it will halt the purchase of foreign currency in the domestic market until the end of 2023, starting from August 10, in an effort to reduce financial market volatility. Decisions on resuming these foreign exchange purchases will be made based on the actual conditions of the financial markets. -
Weight Loss Drugs Outpace Luxury Brands? Novo Nordisk Closes in on LVMH's Crown in Europe
Is Europe's top market cap spot about to change hands? 
Is Europe's top market cap spot about to change hands? -
SoftBank's Arm Gears Up for Possibly the Biggest Global IPO of the Year: U.S. Debut in September with a Valuation Surpassing $60 Billion
Arm moves one step closer to its anticipated listing. 
Arm moves one step closer to its anticipated listing. -
OpenAI Unveils GPTBot: A Web Crawler for the Upcoming GPT-5
On August 8, OpenAI announced a new product called GPTBot on its official website. This web crawler is designed to gather vast amounts of online data for training AI models. 
On August 8, OpenAI announced a new product called GPTBot on its official website. This web crawler is designed to gather vast amounts of online data for training AI models. -
Rivian Raises Annual Forecast, Surpasses Q2 Expectations: Tesla's Top Contender Strikes Back
Late in the trading session on Tuesday, August 8, Tesla's rival, Rivian, unveiled its Q2 financial results. In the earnings report, Rivian increased its production outlook for the year and trimmed its loss forecast. 
Late in the trading session on Tuesday, August 8, Tesla's rival, Rivian, unveiled its Q2 financial results. In the earnings report, Rivian increased its production outlook for the year and trimmed its loss forecast. -
U.S. Credit Card Balances Surge, Breaking the $1 Trillion Mark for First Time
In a report released on Tuesday, August 8, the Federal Reserve Bank of New York stated that U.S. credit card debt surged by $45 billion in the second quarter of the year, a rise of over 4%, pushing the total to $1.03 trillion. This is the highest amount since the Fed started recording this data in 2003. 
In a report released on Tuesday, August 8, the Federal Reserve Bank of New York stated that U.S. credit card debt surged by $45 billion in the second quarter of the year, a rise of over 4%, pushing the total to $1.03 trillion. This is the highest amount since the Fed started recording this data in 2003. -
Li Auto Reports Record Q2 Earnings, Aims for Over 100,000 Vehicle Deliveries in Q3
Peak Travel Season Boosts Demand Rising demand during the peak travel season, combined with the fading impact of price wars, seems to have painted a brighter picture for Chinese automakers in the second quarter. Leading the pack, Li Auto, known for its prudent business strategies, continues its profitable streak in the new quarter. 
Peak Travel Season Boosts Demand Rising demand during the peak travel season, combined with the fading impact of price wars, seems to have painted a brighter picture for Chinese automakers in the second quarter. Leading the pack, Li Auto, known for its prudent business strategies, continues its profitable streak in the new quarter. -
Apple Faces Rare 5-Day Stock Dip: Upcoming iPhone 15 Holds the Key
Apple's uncommon five-day stock slide has drawn attention, with its three consecutive quarters of declining revenue shaking investors' confidence. Now, all eyes are on the upcoming iPhone 15, set to be revealed next month, which will be critical in determining if the tech giant can turn the tide. 
Apple's uncommon five-day stock slide has drawn attention, with its three consecutive quarters of declining revenue shaking investors' confidence. Now, all eyes are on the upcoming iPhone 15, set to be revealed next month, which will be critical in determining if the tech giant can turn the tide. -
Yellow, A Century-Old Trucking Giant, Goes Bankrupt: 30,000 Jobs Lost
One of America's oldest trucking firms, Yellow, with 99 years in operation, has declared bankruptcy, leading to the loss of 30,000 jobs. 
One of America's oldest trucking firms, Yellow, with 99 years in operation, has declared bankruptcy, leading to the loss of 30,000 jobs. -
Hermès Watches Aiming for €1 Billion Sales by 2025: Racing to Top-Tier Watchmaking Brands
By June 2023, the French luxury goods company Hermès reported a total revenue of €6.698 billion (equivalent to approximately 529.36 billion yuan) for the first half of 2023, a 29% surge when adjusted for fixed exchange rates. 
By June 2023, the French luxury goods company Hermès reported a total revenue of €6.698 billion (equivalent to approximately 529.36 billion yuan) for the first half of 2023, a 29% surge when adjusted for fixed exchange rates.
