Jonathan Wong
The Latest
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Just Eat Takeaway Sold for $4.3 Billion as Pandemic-Era Boom Collapses
Just Eat Takeaway.com, one of Europe's largest food delivery firms, is set to be acquired by Dutch technology investor Prosus in a $4.3 billion all-cash deal, marking a significant shift in the industry as companies struggle with post-pandemic demand fluctuations. The offer values Just Eat shares at 20.3 euros each, representing a 63% premium compared to its closing price on Friday. 
Just Eat Takeaway.com, one of Europe's largest food delivery firms, is set to be acquired by Dutch technology investor Prosus in a $4.3 billion all-cash deal, marking a significant shift in the industry as companies struggle with post-pandemic demand fluctuations. The offer values Just Eat shares at 20.3 euros each, representing a 63% premium compared to its closing price on Friday. -
Starbucks to Cut 1,100 Corporate Jobs as CEO Struggles to Revive Sales
Starbucks Corp. will lay off 1,100 corporate employees this week as CEO Brian Niccol seeks to streamline operations and reverse declining sales, according to an internal memo obtained by Yahoo Finance. The job cuts, which do not affect store employees, are part of a broader effort to eliminate redundancies and create a more agile corporate structure, the company said. 
Starbucks Corp. will lay off 1,100 corporate employees this week as CEO Brian Niccol seeks to streamline operations and reverse declining sales, according to an internal memo obtained by Yahoo Finance. The job cuts, which do not affect store employees, are part of a broader effort to eliminate redundancies and create a more agile corporate structure, the company said. -
Apple to Invest $500 Billion in U.S. Expansion with 20,000 New Jobs as Trump Tariffs Take Effect
Apple announced Monday it will invest $500 billion in expanding its U.S. operations over the next four years, a move that comes as the company faces new import tariffs on Chinese goods imposed by the Trump administration. The investment, which Apple says will create 20,000 jobs, includes the construction of a new artificial intelligence (AI) server manufacturing facility in Texas, the expansion of data centers across multiple states, and increased research and development efforts in the U.S. 
Apple announced Monday it will invest $500 billion in expanding its U.S. operations over the next four years, a move that comes as the company faces new import tariffs on Chinese goods imposed by the Trump administration. The investment, which Apple says will create 20,000 jobs, includes the construction of a new artificial intelligence (AI) server manufacturing facility in Texas, the expansion of data centers across multiple states, and increased research and development efforts in the U.S. -
SEC Drops Lawsuit Against Coinbase as Trump Administration Signals Crypto-Friendly Shift
The Securities and Exchange Commission has agreed to drop its enforcement case against Coinbase, the largest U.S.-based cryptocurrency exchange, in a move that signals a major shift in regulatory policy under the Trump administration. The decision, which is pending final approval from SEC commissioners, follows intense scrutiny of the agency's handling of crypto regulations during the Biden administration. 
The Securities and Exchange Commission has agreed to drop its enforcement case against Coinbase, the largest U.S.-based cryptocurrency exchange, in a move that signals a major shift in regulatory policy under the Trump administration. The decision, which is pending final approval from SEC commissioners, follows intense scrutiny of the agency's handling of crypto regulations during the Biden administration. -
UnitedHealth Faces DOJ Fraud Probe, Layoffs, and Stock Plunge in Escalating Crisis
UnitedHealth Group is facing mounting legal and financial challenges as the U.S. Department of Justice (DOJ) investigates its Medicare billing practices, while the company implements employee buyouts and potential layoffs to cut costs. The developments come amid a tumultuous period for the health insurance giant, which has also been hit by a high-profile cyberattack and criticism from prominent investors. 
UnitedHealth Group is facing mounting legal and financial challenges as the U.S. Department of Justice (DOJ) investigates its Medicare billing practices, while the company implements employee buyouts and potential layoffs to cut costs. The developments come amid a tumultuous period for the health insurance giant, which has also been hit by a high-profile cyberattack and criticism from prominent investors. -
Alibaba Shares Surge 11% as Cloud and E-Commerce Drive Profit Growth
Alibaba shares climbed more than 11% in premarket trading Thursday, as the Chinese e-commerce giant posted stronger-than-expected earnings, driven by a rebound in cloud services and international sales. The company reported net income of 48.95 billion yuan ($6.72 billion) for the quarter ending December 31, exceeding analyst expectations of 40.6 billion yuan. Revenue rose 8% to 280.15 billion yuan ($38.6 billion), the fastest pace of growth in over a year. 
Alibaba shares climbed more than 11% in premarket trading Thursday, as the Chinese e-commerce giant posted stronger-than-expected earnings, driven by a rebound in cloud services and international sales. The company reported net income of 48.95 billion yuan ($6.72 billion) for the quarter ending December 31, exceeding analyst expectations of 40.6 billion yuan. Revenue rose 8% to 280.15 billion yuan ($38.6 billion), the fastest pace of growth in over a year. -
Walmart Shares Fall 8% After Forecast Signals Slower Profit Growth
Walmart shares fell sharply Thursday after the retailer issued a cautious profit outlook for its fiscal year, despite reporting stronger-than-expected holiday quarter results and robust e-commerce growth. The company's stock dropped 8% in premarket trading as investors reacted to guidance that suggested slower earnings expansion ahead. 
Walmart shares fell sharply Thursday after the retailer issued a cautious profit outlook for its fiscal year, despite reporting stronger-than-expected holiday quarter results and robust e-commerce growth. The company's stock dropped 8% in premarket trading as investors reacted to guidance that suggested slower earnings expansion ahead. -
HSBC Announces $2 Billion Buyback as Profit Rises 6.5%
HSBC Holdings PLC reported a 6.5% rise in annual pre-tax profit to $32.3 billion on Wednesday, as the London-based lender benefited from the sale of its Canadian banking unit. The bank also announced a $2 billion share buyback, which it expects to complete by the first quarter of 2025, and outlined plans to cut costs by an annualized $1.5 billion by the end of 2026. 
HSBC Holdings PLC reported a 6.5% rise in annual pre-tax profit to $32.3 billion on Wednesday, as the London-based lender benefited from the sale of its Canadian banking unit. The bank also announced a $2 billion share buyback, which it expects to complete by the first quarter of 2025, and outlined plans to cut costs by an annualized $1.5 billion by the end of 2026. -
Nikola Files for Bankruptcy as EV Industry Woes Deepen
Nikola Corp., the once high-flying electric vehicle startup that briefly surpassed Ford Motor Co. in market value, has filed for Chapter 11 bankruptcy protection after failing to secure a buyer or raise enough capital to sustain operations. The filing, made Wednesday in Delaware, lists assets between $500 million and $1 billion, while liabilities range between $1 billion and $10 billion, according to court documents. 
Nikola Corp., the once high-flying electric vehicle startup that briefly surpassed Ford Motor Co. in market value, has filed for Chapter 11 bankruptcy protection after failing to secure a buyer or raise enough capital to sustain operations. The filing, made Wednesday in Delaware, lists assets between $500 million and $1 billion, while liabilities range between $1 billion and $10 billion, according to court documents. -
Restaurant Giant Yum Brands Reshapes Headquarters, Moves KFC Hub to Texa
KFC is moving its U.S. headquarters from Louisville, Kentucky, to Plano, Texas, parent company Yum Brands announced Tuesday. About 100 KFC U.S. employees will need to relocate in the coming six months, and another 90 remote workers will also be asked to move in the next year and a half. Yum, which owns KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill, is consolidating two corporate campuses: Plano for KFC and Pizza Hut, and Irvine, California, for Taco Bell and The Habit Burger Grill. 
KFC is moving its U.S. headquarters from Louisville, Kentucky, to Plano, Texas, parent company Yum Brands announced Tuesday. About 100 KFC U.S. employees will need to relocate in the coming six months, and another 90 remote workers will also be asked to move in the next year and a half. Yum, which owns KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill, is consolidating two corporate campuses: Plano for KFC and Pizza Hut, and Irvine, California, for Taco Bell and The Habit Burger Grill.
