Jonathan Wong
The Latest
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Dollar Dips Amid Cooling Inflation: A Game Changer on Wall Street
New data from the U.S. Bureau of Labor Statistics shows that the year-on-year increase in the U.S. Consumer Price Index (CPI) in June continued to fall from 4% in May to 3%, lower than the predicted 3.1%. This marked a 12-month decline and the lowest point since March 2021. The year-on-year growth rate of the Producer Price Index (PPI) in June slowed down from 1.1% in the previous month to almost no growth at 0.1%, lower than the anticipated 0.4% and a record low since August 2020. 
New data from the U.S. Bureau of Labor Statistics shows that the year-on-year increase in the U.S. Consumer Price Index (CPI) in June continued to fall from 4% in May to 3%, lower than the predicted 3.1%. This marked a 12-month decline and the lowest point since March 2021. The year-on-year growth rate of the Producer Price Index (PPI) in June slowed down from 1.1% in the previous month to almost no growth at 0.1%, lower than the anticipated 0.4% and a record low since August 2020. -
OpenAI's ChatGPT Under Official Investigation by U.S. Regulators for the First Time
OpenAI, the creator of the chatbot, ChatGPT, is now facing an investigation by the U.S. Federal Trade Commission (FTC), according to media reports on Thursday. This probe, initiated through a civil investigative demand (CID) letter sent to OpenAI, mainly focuses on whether the chatbot has caused harm to individuals by disseminating false information and how OpenAI has managed such risks. 
OpenAI, the creator of the chatbot, ChatGPT, is now facing an investigation by the U.S. Federal Trade Commission (FTC), according to media reports on Thursday. This probe, initiated through a civil investigative demand (CID) letter sent to OpenAI, mainly focuses on whether the chatbot has caused harm to individuals by disseminating false information and how OpenAI has managed such risks. -
St. Louis Fed President James Bullard to Step Down, Set to Helm Purdue's Business School
In a significant development that marks the end of an era at the Federal Reserve Bank of St. Louis, President James Bullard has announced his decision to step down from his role. Bullard, who has been at the helm of the St. Louis Fed since 2008, will transition to academia as the inaugural dean of Purdue University's Mitchell E. Daniels, Jr. School of Business. 
In a significant development that marks the end of an era at the Federal Reserve Bank of St. Louis, President James Bullard has announced his decision to step down from his role. Bullard, who has been at the helm of the St. Louis Fed since 2008, will transition to academia as the inaugural dean of Purdue University's Mitchell E. Daniels, Jr. School of Business. -
FTC's Defeat Against Microsoft: A Dark Horizon for New Era Antitrust Enforcement, But the Fight Is Far From Over
This Tuesday, a judge in San Francisco dealt a heavy blow to the Federal Trade Commission (FTC), the United States antitrust regulator, by rejecting its injunction request. The decision allows Microsoft to proceed with the largest acquisition in the history of the video game industry, that of Activision Blizzard. 
This Tuesday, a judge in San Francisco dealt a heavy blow to the Federal Trade Commission (FTC), the United States antitrust regulator, by rejecting its injunction request. The decision allows Microsoft to proceed with the largest acquisition in the history of the video game industry, that of Activision Blizzard. -
Trump's Immunity Claim Rejected: E. Jean Carroll's Defamation Case Moves Forward
In a significant development, the U.S. Department of Justice (DOJ) has reversed its stance on the immunity of former President Donald Trump from a defamation lawsuit filed by writer E. Jean Carroll. The lawsuit pertains to Trump's denial of Carroll's sexual assault allegations while he was in office. 
In a significant development, the U.S. Department of Justice (DOJ) has reversed its stance on the immunity of former President Donald Trump from a defamation lawsuit filed by writer E. Jean Carroll. The lawsuit pertains to Trump's denial of Carroll's sexual assault allegations while he was in office. -
FBI Director Wray Stands Firm Amidst GOP Criticism in House Judiciary Hearing
In a recent House Judiciary Committee hearing, FBI Director Christopher Wray faced a barrage of criticism from House Republicans, who outlined a series of grievances. Despite the onslaught, Wray remained resolute, defending the FBI's work and its commitment to impartiality. 
In a recent House Judiciary Committee hearing, FBI Director Christopher Wray faced a barrage of criticism from House Republicans, who outlined a series of grievances. Despite the onslaught, Wray remained resolute, defending the FBI's work and its commitment to impartiality. -
Threads' Meteoric Rise: 100 Million Users in Five Days, But Twitter Remains Unthreatened
Gaining an initial user base is a common pain point for most startups: How does a new app obtain its first group of users and leverage this to reach a larger audience? Typically, it's a process of rapid iteration and persistent validation. 
Gaining an initial user base is a common pain point for most startups: How does a new app obtain its first group of users and leverage this to reach a larger audience? Typically, it's a process of rapid iteration and persistent validation. -
Tesla Gears Up for Affordable 'Model 2': Design Completed and Factory Ready to Break Ground
The long-rumored next-generation affordable Tesla model appears to be ready to hit the market soon. 
The long-rumored next-generation affordable Tesla model appears to be ready to hit the market soon. -
Lesson from Russia's Frozen Assets, Central Banks Globally Rush to Repatriate Gold
An increasing number of countries are bringing their physical gold reserves back home to avoid sanctions similar to those imposed on Russia's foreign assets. At the same time, they are purchasing more precious metals as a hedge against high inflation. 
An increasing number of countries are bringing their physical gold reserves back home to avoid sanctions similar to those imposed on Russia's foreign assets. At the same time, they are purchasing more precious metals as a hedge against high inflation. -
Binance Grapples with Regulatory Pressure: Key Executives Depart and Major U.S. Layoffs
As regulatory scrutiny from the United States escalates, cryptocurrency exchange Binance has been hit by a wave of internal turmoil. The company has seen an exodus of key executives, including its general counsel, chief strategy officer, investigations director, and senior vice president in charge of compliance over the last few weeks. Binance also conducted a series of layoffs last week, planning to decrease its U.S. workforce to limit its exposure in the country. 
As regulatory scrutiny from the United States escalates, cryptocurrency exchange Binance has been hit by a wave of internal turmoil. The company has seen an exodus of key executives, including its general counsel, chief strategy officer, investigations director, and senior vice president in charge of compliance over the last few weeks. Binance also conducted a series of layoffs last week, planning to decrease its U.S. workforce to limit its exposure in the country.
