Jonathan Wong
The Latest
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Target Warns of ‘Massive’ Tariff Costs as Sales Drop 2.8%, Boycott Adds Pressure
Target Corp. warned Wednesday that tariffs imposed under President Donald Trump's trade agenda could lead to "massive potential costs," compounding existing challenges as the retailer faces a sales downturn, consumer backlash over its diversity policies, and declining shopper confidence. CEO Brian Cornell said price hikes remain "a very last resort" but cannot be ruled out. 
Target Corp. warned Wednesday that tariffs imposed under President Donald Trump's trade agenda could lead to "massive potential costs," compounding existing challenges as the retailer faces a sales downturn, consumer backlash over its diversity policies, and declining shopper confidence. CEO Brian Cornell said price hikes remain "a very last resort" but cannot be ruled out. -
Home Depot Says It Won’t Raise Prices Amid Tariffs, Bucking Retail Industry Trend
Home Depot said Tuesday it has no plans to raise prices despite rising tariff costs, diverging from peers like Walmart and Stanley Black & Decker that are warning of consumer price hikes. The announcement came as the home improvement giant reported fiscal first-quarter revenue of $39.86 billion and reaffirmed its full-year sales forecast. 
Home Depot said Tuesday it has no plans to raise prices despite rising tariff costs, diverging from peers like Walmart and Stanley Black & Decker that are warning of consumer price hikes. The announcement came as the home improvement giant reported fiscal first-quarter revenue of $39.86 billion and reaffirmed its full-year sales forecast. -
China’s CATL Raises $4.6 Billion in Largest 2024 IPO, Defies U.S. Pressure with Global Expansion Plan
Contemporary Amperex Technology Co. Ltd., the world's largest electric vehicle battery manufacturer, raised $4.6 billion in a landmark Hong Kong listing Tuesday, marking the biggest initial public offering globally in 2024. Shares surged as much as 18.4% above their listing price of 263 Hong Kong dollars ($33.61) on the first day of trading, underscoring the company's growing dominance in the global clean energy sector despite mounting U.S.-China tensions. 
Contemporary Amperex Technology Co. Ltd., the world's largest electric vehicle battery manufacturer, raised $4.6 billion in a landmark Hong Kong listing Tuesday, marking the biggest initial public offering globally in 2024. Shares surged as much as 18.4% above their listing price of 263 Hong Kong dollars ($33.61) on the first day of trading, underscoring the company's growing dominance in the global clean energy sector despite mounting U.S.-China tensions. -
Xiaomi to Launch YU7 SUV in Major Push Against Tesla
Xiaomi will officially unveil its first electric SUV, the YU7, on May 22, joining a growing list of Chinese automakers vying to compete with Tesla in the world's largest auto market. The launch event, marking the company's 15th anniversary, will also feature several major product announcements, including the debut of Xiaomi's self-developed mobile chip, the Xring O1, alongside the new Xiaomi 15S Pro smartphone and Xiaomi 7 Ultra tablet. 
Xiaomi will officially unveil its first electric SUV, the YU7, on May 22, joining a growing list of Chinese automakers vying to compete with Tesla in the world's largest auto market. The launch event, marking the company's 15th anniversary, will also feature several major product announcements, including the debut of Xiaomi's self-developed mobile chip, the Xring O1, alongside the new Xiaomi 15S Pro smartphone and Xiaomi 7 Ultra tablet. -
Bessent Says Walmart Will ‘Eat Some Tariffs’ After Trump Demand; but Consumers May Still Face Price Hikes
Walmart will absorb a portion of the costs associated with President Donald Trump's new round of tariffs, Treasury Secretary Scott Bessent said Sunday, following direct pressure from the president and a private call with the company's CEO, Doug McMillon. The statement comes amid widespread concern about inflation and global trade volatility sparked by Trump's sweeping tariff policy. 
Walmart will absorb a portion of the costs associated with President Donald Trump's new round of tariffs, Treasury Secretary Scott Bessent said Sunday, following direct pressure from the president and a private call with the company's CEO, Doug McMillon. The statement comes amid widespread concern about inflation and global trade volatility sparked by Trump's sweeping tariff policy. -
Trump Tells Walmart to ‘Eat the Tariffs’ After Retailer Warns of Price Hikes
President Donald Trump lashed out at Walmart on Saturday after the retail giant warned that import tariffs would force it to raise prices on a range of consumer goods, including groceries and children's products. In a post on Truth Social, Trump dismissed the company's concerns and demanded that Walmart absorb the additional costs. 
President Donald Trump lashed out at Walmart on Saturday after the retail giant warned that import tariffs would force it to raise prices on a range of consumer goods, including groceries and children's products. In a post on Truth Social, Trump dismissed the company's concerns and demanded that Walmart absorb the additional costs. -
FCC Approves Verizon’s $20 Billion Frontier Deal After Company Agrees to End DEI Programs
The Federal Communications Commission approved Verizon's $20 billion acquisition of Frontier Communications on Friday, clearing the way for the nation's largest telecom provider to significantly expand its fiber-optic footprint. The merger, approved after Verizon agreed to eliminate diversity, equity, and inclusion (DEI) policies across its workforce and corporate operations, comes amid broader efforts by the Trump administration to dismantle DEI initiatives nationwide. 
The Federal Communications Commission approved Verizon's $20 billion acquisition of Frontier Communications on Friday, clearing the way for the nation's largest telecom provider to significantly expand its fiber-optic footprint. The merger, approved after Verizon agreed to eliminate diversity, equity, and inclusion (DEI) policies across its workforce and corporate operations, comes amid broader efforts by the Trump administration to dismantle DEI initiatives nationwide. -
Microsoft Scrambles to Avoid Billions in EU Fines by Unbundling Teams from Office
Microsoft has submitted new commitments to European Union regulators, aiming to resolve a multiyear antitrust probe over the bundling of its Teams app with Office 365 and Microsoft 365 software suites. The company's latest move comes as the European Commission opens a public consultation on the proposed remedies, potentially signaling the end of a dispute that began with a complaint by Slack Technologies in 2020. 
Microsoft has submitted new commitments to European Union regulators, aiming to resolve a multiyear antitrust probe over the bundling of its Teams app with Office 365 and Microsoft 365 software suites. The company's latest move comes as the European Commission opens a public consultation on the proposed remedies, potentially signaling the end of a dispute that began with a complaint by Slack Technologies in 2020. -
Dick’s Sporting Goods to Acquire Foot Locker for $2.4 Billion in High-Stakes Nike Market Play
Dick's Sporting Goods announced Thursday it will acquire longtime rival Foot Locker in a $2.4 billion deal aimed at strengthening its position in the global athletic footwear market and consolidating its hold on Nike product distribution. 
Dick's Sporting Goods announced Thursday it will acquire longtime rival Foot Locker in a $2.4 billion deal aimed at strengthening its position in the global athletic footwear market and consolidating its hold on Nike product distribution. -
Walmart to Raise Prices in May, CFO Warns as Tariffs Pressure Margins and Supply Chains
Walmart is preparing to raise prices on a range of goods as early as late May, as the retailer grapples with elevated import costs driven by President Donald Trump's sweeping global tariffs. The warning from the world's largest retailer adds to broader concerns across the retail industry over how continued trade uncertainty will affect consumer prices, supply chains, and financial outlooks. 
Walmart is preparing to raise prices on a range of goods as early as late May, as the retailer grapples with elevated import costs driven by President Donald Trump's sweeping global tariffs. The warning from the world's largest retailer adds to broader concerns across the retail industry over how continued trade uncertainty will affect consumer prices, supply chains, and financial outlooks.
