Jonathan Wong
The Latest
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Quantum Computing Stocks Tumble Following Nvidia CEO's Cautious Forecast
Quantum computing stocks experienced a sharp downturn Wednesday after Nvidia CEO Jensen Huang tempered expectations for the technology's timeline, stating that practical quantum computing could be as far as 15 to 30 years away. Huang's remarks, made during a Q&A with Wall Street analysts, prompted a swift market reaction, with shares in key companies in the sector plunging in premarket trading. 
Quantum computing stocks experienced a sharp downturn Wednesday after Nvidia CEO Jensen Huang tempered expectations for the technology's timeline, stating that practical quantum computing could be as far as 15 to 30 years away. Huang's remarks, made during a Q&A with Wall Street analysts, prompted a swift market reaction, with shares in key companies in the sector plunging in premarket trading. -
Getty Images and Shutterstock Merge in $3.7 Billion Deal to Counter AI Threats
Getty Images and Shutterstock, two of the biggest names in stock imagery, announced on Tuesday their plans to merge in a $3.7 billion deal that aims to reshape the visual content landscape. The merger comes at a time when the traditional stock image industry faces mounting challenges from generative AI technologies, such as OpenAI's DALL-E and Midjourney, which can create high-quality visuals from simple text prompts. 
Getty Images and Shutterstock, two of the biggest names in stock imagery, announced on Tuesday their plans to merge in a $3.7 billion deal that aims to reshape the visual content landscape. The merger comes at a time when the traditional stock image industry faces mounting challenges from generative AI technologies, such as OpenAI's DALL-E and Midjourney, which can create high-quality visuals from simple text prompts. -
McDonald’s Scales Back DEI Programs Amid Backlash and Legal Shifts
McDonald's, one of the world's most recognizable brands, announced on Monday a significant rollback of its diversity, equity, and inclusion (DEI) initiatives, becoming the latest major U.S. company to retreat from policies that have drawn increasing scrutiny. The changes reflect a broader trend across corporate America, spurred by legal challenges, shifting public sentiment, and mounting political pressure. 
McDonald's, one of the world's most recognizable brands, announced on Monday a significant rollback of its diversity, equity, and inclusion (DEI) initiatives, becoming the latest major U.S. company to retreat from policies that have drawn increasing scrutiny. The changes reflect a broader trend across corporate America, spurred by legal challenges, shifting public sentiment, and mounting political pressure. -
Tencent, CATL Protest Pentagon Blacklisting Amid US-China Tech Tensions
The U.S. Department of Defense has added Chinese tech giants Tencent, CATL, and SenseTime to its list of companies allegedly linked to China's military, escalating tensions between the world's two largest economies. The decision, announced this week, has drawn sharp rebukes from the affected companies and sent ripples through financial markets. 
The U.S. Department of Defense has added Chinese tech giants Tencent, CATL, and SenseTime to its list of companies allegedly linked to China's military, escalating tensions between the world's two largest economies. The decision, announced this week, has drawn sharp rebukes from the affected companies and sent ripples through financial markets. -
Justice Department and Trump Clash Over TikTok Ban as Supreme Court Weighs Case
President-elect Donald Trump has become an unlikely advocate for TikTok, the popular social media platform that faces a looming nationwide ban unless its Chinese parent company, ByteDance, divests ownership. The Supreme Court is set to hear arguments this week in a case challenging the constitutionality of the law that could lead to TikTok's expulsion from the U.S. market just one day before Trump's inauguration. 
President-elect Donald Trump has become an unlikely advocate for TikTok, the popular social media platform that faces a looming nationwide ban unless its Chinese parent company, ByteDance, divests ownership. The Supreme Court is set to hear arguments this week in a case challenging the constitutionality of the law that could lead to TikTok's expulsion from the U.S. market just one day before Trump's inauguration. -
U.S. Steel and Nippon Sue Biden Over $15 Billion Deal Block, Accuse Rival of Collusion
The Biden administration is under legal fire as Nippon Steel and U.S. Steel launched a two-pronged legal battle over the president's decision to block their proposed $15 billion acquisition deal. The lawsuits, filed in the U.S. Court of Appeals for the D.C. Circuit, aim to overturn the Biden administration's decision, which cited national security concerns. Additionally, the companies filed a separate lawsuit against Cleveland-Cliffs, a rival steel producer, and its CEO Lourenco Goncalves, as well as United Steelworkers (USW) President David McCall, accusing them of collusion to derail the merger. 
The Biden administration is under legal fire as Nippon Steel and U.S. Steel launched a two-pronged legal battle over the president's decision to block their proposed $15 billion acquisition deal. The lawsuits, filed in the U.S. Court of Appeals for the D.C. Circuit, aim to overturn the Biden administration's decision, which cited national security concerns. Additionally, the companies filed a separate lawsuit against Cleveland-Cliffs, a rival steel producer, and its CEO Lourenco Goncalves, as well as United Steelworkers (USW) President David McCall, accusing them of collusion to derail the merger. -
JetBlue Fined $2 Million for Chronic Delays and Unrealistic Scheduling
The U.S. Department of Transportation (DOT) has fined JetBlue Airways $2 million for persistent flight delays and unrealistic scheduling practices, marking the first penalty of its kind in the airline industry. The decision, announced Friday, underscores the DOT's recent focus on passenger protections and its intent to hold airlines accountable for disruptions caused by scheduling issues. 
The U.S. Department of Transportation (DOT) has fined JetBlue Airways $2 million for persistent flight delays and unrealistic scheduling practices, marking the first penalty of its kind in the airline industry. The decision, announced Friday, underscores the DOT's recent focus on passenger protections and its intent to hold airlines accountable for disruptions caused by scheduling issues. -
BYD Closes the Gap with Tesla in 2024 EV Sales Amid Rapid Growth
Chinese electric vehicle (EV) manufacturer BYD is rapidly closing the gap with global leader Tesla, reporting record-breaking sales of 1.76 million vehicles in 2024. BYD's December sales of 207,734 EVs, powered by strong domestic demand and government subsidies, marked a 41% year-over-year increase. This performance positions BYD as Tesla's most formidable rival in the global EV market. 
Chinese electric vehicle (EV) manufacturer BYD is rapidly closing the gap with global leader Tesla, reporting record-breaking sales of 1.76 million vehicles in 2024. BYD's December sales of 207,734 EVs, powered by strong domestic demand and government subsidies, marked a 41% year-over-year increase. This performance positions BYD as Tesla's most formidable rival in the global EV market. -
Tesla Reports First-Ever Annual Delivery Decline, Shares Slide
Tesla, the global leader in electric vehicles, reported its first annual decline in deliveries, marking a pivotal moment for the company as competition in the EV market heats up. The automaker delivered 1,789,226 vehicles in 2024, a 1.1% drop from the 1.81 million units delivered in 2023. The fourth quarter also fell short of expectations, with 495,570 vehicles delivered, below analysts' consensus of over 503,000. 
Tesla, the global leader in electric vehicles, reported its first annual decline in deliveries, marking a pivotal moment for the company as competition in the EV market heats up. The automaker delivered 1,789,226 vehicles in 2024, a 1.1% drop from the 1.81 million units delivered in 2023. The fourth quarter also fell short of expectations, with 495,570 vehicles delivered, below analysts' consensus of over 503,000. -
Brazil Suspends Work Visas for Chinese EV Giant BYD Amid Labor Abuse Allegations
Brazil has ceased issuing temporary work visas to employees of the Chinese electric vehicle (EV) producer BYD following accusations that 163 Chinese workers at a BYD factory construction site in Bahia were victims of human trafficking and subjected to "slavery-like" conditions. The decision, announced by Brazil's Ministry of Foreign Affairs, has sparked controversy and cast a shadow over BYD's ambitious expansion plans in the South American nation. Brazil has ceased issuing temporary work visas to employees of the Chinese electric vehicle (EV) producer BYD following accusations that 163 Chinese workers at a BYD factory construction site in Bahia were victims of human trafficking and subjected to "slavery-like" conditions. The decision, announced by Brazil's Ministry of Foreign Affairs, has sparked controversy and cast a shadow over BYD's ambitious expansion plans in the South American nation.
