Jonathan Wong
The Latest
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Bristol Myers Strikes $11.1 Billion Cancer Drug Deal with BioNTech to Expand Oncology Pipeline
Bristol Myers Squibb will pay $1.5 billion upfront to BioNTech SE for rights to co-develop and commercialize the German biotech's experimental cancer drug BNT327, the companies said Monday, in a partnership that could ultimately exceed $11 billion in total value. The agreement marks one of the largest oncology licensing deals in recent years and reflects intensifying competition in the immuno-oncology space. 
Bristol Myers Squibb will pay $1.5 billion upfront to BioNTech SE for rights to co-develop and commercialize the German biotech's experimental cancer drug BNT327, the companies said Monday, in a partnership that could ultimately exceed $11 billion in total value. The agreement marks one of the largest oncology licensing deals in recent years and reflects intensifying competition in the immuno-oncology space. -
Best Buy Slashes Outlook as Tariffs Hit Sales; Stock Down 3% After $8.77 Billion Q1 Revenue
Best Buy slashed its full-year sales and profit guidance on Thursday, citing intensifying tariff pressures and weakening demand for high-ticket electronics. The Minneapolis-based electronics retailer reported a steeper-than-expected decline in first-quarter revenue and profit, triggering a nearly 3% fall in its stock in premarket trading. 
Best Buy slashed its full-year sales and profit guidance on Thursday, citing intensifying tariff pressures and weakening demand for high-ticket electronics. The Minneapolis-based electronics retailer reported a steeper-than-expected decline in first-quarter revenue and profit, triggering a nearly 3% fall in its stock in premarket trading. -
Ford Recalls 1.1 Million Vehicles Over Camera Glitch; F-150, Bronco, Edge Among Models Affected
Ford Motor Co. is recalling 1,075,299 vehicles in the U.S. due to a software defect that may cause rearview camera images to freeze, delay, or fail to display, increasing the risk of crashes. The recall affects more than a dozen models spanning the 2021 to 2025 model years, including bestsellers like the F-150, Bronco, and Edge. 
Ford Motor Co. is recalling 1,075,299 vehicles in the U.S. due to a software defect that may cause rearview camera images to freeze, delay, or fail to display, increasing the risk of crashes. The recall affects more than a dozen models spanning the 2021 to 2025 model years, including bestsellers like the F-150, Bronco, and Edge. -
Tesla’s Europe Sales Fall 49% in April Amid Musk Backlash and Chinese EV Competition
Tesla's vehicle sales in Europe plunged 49% year-over-year in April, underscoring the mounting challenges the electric automaker faces as it grapples with intensifying competition, factory disruptions, and a deepening backlash over CEO Elon Musk's political entanglements. 
Tesla's vehicle sales in Europe plunged 49% year-over-year in April, underscoring the mounting challenges the electric automaker faces as it grapples with intensifying competition, factory disruptions, and a deepening backlash over CEO Elon Musk's political entanglements. -
Salesforce to Acquire Informatica for $8 Billion in AI Data Expansion Push
Salesforce will acquire cloud data management company Informatica in an $8 billion deal, marking the customer relationship management giant's largest acquisition since Slack in 2021, and signaling an aggressive return to major M&A amid a growing race to dominate artificial intelligence. 
Salesforce will acquire cloud data management company Informatica in an $8 billion deal, marking the customer relationship management giant's largest acquisition since Slack in 2021, and signaling an aggressive return to major M&A amid a growing race to dominate artificial intelligence. -
German Court Convicts Four Former Volkswagen Executives in Dieselgate Fraud Trial
A regional court in Braunschweig, Germany, has convicted four former Volkswagen executives of fraud in connection with the "Dieselgate" emissions scandal, nearly a decade after U.S. authorities first uncovered the automaker's use of illegal defeat devices to cheat emissions tests. Two of the former managers received prison sentences while the others were handed suspended terms, concluding a major trial that began in 2021. 
A regional court in Braunschweig, Germany, has convicted four former Volkswagen executives of fraud in connection with the "Dieselgate" emissions scandal, nearly a decade after U.S. authorities first uncovered the automaker's use of illegal defeat devices to cheat emissions tests. Two of the former managers received prison sentences while the others were handed suspended terms, concluding a major trial that began in 2021. -
Volvo Cars to Cut 3,000 Jobs Amid Cost-Cutting Push and Global Trade Pressures
Volvo Cars announced Monday it will eliminate approximately 3,000 jobs worldwide as part of a sweeping cost-cutting plan, citing rising raw material costs, trade tensions, and weakening auto markets in Europe. The cuts represent a significant restructuring effort for the Swedish automaker, which is owned by China's Geely Holding Group. 
Volvo Cars announced Monday it will eliminate approximately 3,000 jobs worldwide as part of a sweeping cost-cutting plan, citing rising raw material costs, trade tensions, and weakening auto markets in Europe. The cuts represent a significant restructuring effort for the Swedish automaker, which is owned by China's Geely Holding Group. -
Porn Platform OnlyFans Eyes $8 Billion Deal with U.S. Investor Group as IPO Also Weighed
OnlyFans parent company Fenix International Ltd. is in advanced discussions to sell the London-based adult-content platform to a U.S.-led investor group at a valuation of approximately $8 billion, according to three people familiar with the matter. The group is led by Los Angeles-based Forest Road Company, which has been quietly negotiating the acquisition for several months. 
OnlyFans parent company Fenix International Ltd. is in advanced discussions to sell the London-based adult-content platform to a U.S.-led investor group at a valuation of approximately $8 billion, according to three people familiar with the matter. The group is led by Los Angeles-based Forest Road Company, which has been quietly negotiating the acquisition for several months. -
U.S. Firm RedBird to Acquire Telegraph in $674 Million Deal, Ending Two-Year Auction Saga
RedBird Capital Partners has reached an agreement in principle to acquire the Telegraph Media Group in a £500 million ($674 million) deal, ending a protracted two-year effort to secure new ownership for the conservative-leaning British media institution. The consortium, led by RedBird founder Gerry Cardinale, will take control of both the Daily Telegraph and Sunday Telegraph, pending regulatory approval. 
RedBird Capital Partners has reached an agreement in principle to acquire the Telegraph Media Group in a £500 million ($674 million) deal, ending a protracted two-year effort to secure new ownership for the conservative-leaning British media institution. The consortium, led by RedBird founder Gerry Cardinale, will take control of both the Daily Telegraph and Sunday Telegraph, pending regulatory approval. -
Walmart Fires Back After Trump Tells Retailers to ‘Eat the Tariffs’
Walmart is warning that U.S. consumers will begin to see higher prices as early as June due to President Donald Trump's sweeping tariffs, even after a temporary reduction in levies on Chinese imports. The retail giant's stance has sparked a public rebuke from Trump, who accused the company of unfairly blaming his trade policies and urged it to "EAT THE TARIFFS." 
Walmart is warning that U.S. consumers will begin to see higher prices as early as June due to President Donald Trump's sweeping tariffs, even after a temporary reduction in levies on Chinese imports. The retail giant's stance has sparked a public rebuke from Trump, who accused the company of unfairly blaming his trade policies and urged it to "EAT THE TARIFFS."
