Jonathan Wong
The Latest
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Delta Warns of Stalled Growth, Slashes Forecasts as Trump Tariffs Shake Travel Demand
Delta Air Lines withdrew its 2025 financial guidance on Wednesday and warned of deteriorating travel demand in the face of escalating global trade tensions triggered by President Donald Trump's tariff regime. CEO Ed Bastian cited "broad economic uncertainty around global trade" as a primary reason for halting expansion plans and signaling potential recessionary pressures. Delta Air Lines withdrew its 2025 financial guidance on Wednesday and warned of deteriorating travel demand in the face of escalating global trade tensions triggered by President Donald Trump's tariff regime. CEO Ed Bastian cited "broad economic uncertainty around global trade" as a primary reason for halting expansion plans and signaling potential recessionary pressures. -
Apple Shares Plunge as Trump Tariffs Set to Hit 104%; iPhone Prices Could Soar by $350
Apple Inc. shares tumbled on Tuesday after the Trump administration confirmed it will implement a 104% tariff on goods imported from China beginning Wednesday, a move that could drastically inflate iPhone prices and squeeze the company's margins. The announcement sent Apple stock sliding after an early rally, closing deep in negative territory amid a broader tech sector sell-off. Apple Inc. shares tumbled on Tuesday after the Trump administration confirmed it will implement a 104% tariff on goods imported from China beginning Wednesday, a move that could drastically inflate iPhone prices and squeeze the company's margins. The announcement sent Apple stock sliding after an early rally, closing deep in negative territory amid a broader tech sector sell-off. -
Walgreens Beats Estimates, Reports $38.6 Billion in Revenue as It Prepares for $10 Billion Sycamore Buyout
Walgreens Boots Alliance reported stronger-than-expected second-quarter earnings Tuesday as the pharmacy chain accelerated cost-cutting measures and prepared for a $10 billion acquisition by private equity firm Sycamore Partners. The company also announced it is withdrawing its fiscal 2025 guidance amid preparations to go private later this year. Walgreens Boots Alliance reported stronger-than-expected second-quarter earnings Tuesday as the pharmacy chain accelerated cost-cutting measures and prepared for a $10 billion acquisition by private equity firm Sycamore Partners. The company also announced it is withdrawing its fiscal 2025 guidance amid preparations to go private later this year. -
Facing Tariff Surge, Apple Moves Five Cargo Planes of iPhones to U.S. in 72 Hours - Report
Apple rushed five cargo planes loaded with iPhones and other products from India and China to the United States in the final days of March, part of a fast-paced strategy to avoid a 10% reciprocal tariff imposed by the Trump administration that took effect April 5, according to senior Indian officials and industry sources familiar with the matter. Apple rushed five cargo planes loaded with iPhones and other products from India and China to the United States in the final days of March, part of a fast-paced strategy to avoid a 10% reciprocal tariff imposed by the Trump administration that took effect April 5, according to senior Indian officials and industry sources familiar with the matter. -
Trump Extends TikTok Deadline by 75 Days Amid Tariff Clash With China and Ongoing Buyout Talks
President Donald Trump on Friday signed an executive order extending the deadline for ByteDance to sell TikTok's U.S. operations by 75 days, a move that forestalls a potential shutdown of the app while escalating tensions with China over trade and national security. President Donald Trump on Friday signed an executive order extending the deadline for ByteDance to sell TikTok's U.S. operations by 75 days, a move that forestalls a potential shutdown of the app while escalating tensions with China over trade and national security. -
Nike, Retail Stocks Climb as Trump Says Vietnam Is Willing to Cut Tariffs to Zero
Shares of Nike and other U.S. apparel companies surged Friday after President Donald Trump said he had a "very productive call" with Vietnam's top leader, signaling possible relief from sweeping tariffs imposed earlier this week. Shares of Nike and other U.S. apparel companies surged Friday after President Donald Trump said he had a "very productive call" with Vietnam's top leader, signaling possible relief from sweeping tariffs imposed earlier this week. -
Stellantis Idles Mexico and Canada Plants, Lays Off 900 U.S. Workers After 25% Tariff Takes Effect
Stellantis is halting production at two major North American facilities and temporarily laying off 900 U.S. workers, becoming the first automaker to take immediate action following President Donald Trump's new 25% tariffs on imported vehicles. The tariffs, which went into effect Thursday, apply to autos entering the U.S. from all countries, including close trading partners Canada and Mexico. Stellantis is halting production at two major North American facilities and temporarily laying off 900 U.S. workers, becoming the first automaker to take immediate action following President Donald Trump's new 25% tariffs on imported vehicles. The tariffs, which went into effect Thursday, apply to autos entering the U.S. from all countries, including close trading partners Canada and Mexico. -
Trump’s 46% Vietnam Tariff Threatens Nike, Wayfair, and American Eagle
President Donald Trump's sweeping new tariffs-topping out at 46% on Vietnamese imports-have triggered a sharp sell-off across the retail sector and cast fresh uncertainty over global supply chains, just as U.S. companies were regaining footing post-pandemic. President Donald Trump's sweeping new tariffs-topping out at 46% on Vietnamese imports-have triggered a sharp sell-off across the retail sector and cast fresh uncertainty over global supply chains, just as U.S. companies were regaining footing post-pandemic. -
Trump Media Share Sale Looms with $2.3 Billion Stake Registered by Trump Trust
Donald Trump's revocable trust has taken a regulatory step that could pave the way for the sale of up to $2.3 billion in stock in Trump Media & Technology Group, the company behind Truth Social, according to filings released Wednesday. The move comes as the company's stock continues to face significant volatility and scrutiny, with shares falling 6.5% to $18.93 in early trading. Donald Trump's revocable trust has taken a regulatory step that could pave the way for the sale of up to $2.3 billion in stock in Trump Media & Technology Group, the company behind Truth Social, according to filings released Wednesday. The move comes as the company's stock continues to face significant volatility and scrutiny, with shares falling 6.5% to $18.93 in early trading. -
Boeing CEO Tells Senate Company Won’t Rush 737 MAX Production After Safety Crisis
Boeing CEO Kelly Ortberg told lawmakers Wednesday the company will not accelerate production of its 737 MAX aircraft until it achieves "a stable system," as the planemaker continues grappling with fallout from a series of safety failures and regulatory restrictions. Speaking before the Senate Commerce Committee, Ortberg said Boeing is prioritizing quality over speed following a January 2024 mid-air emergency involving a newly delivered 737 MAX 9. Boeing CEO Kelly Ortberg told lawmakers Wednesday the company will not accelerate production of its 737 MAX aircraft until it achieves "a stable system," as the planemaker continues grappling with fallout from a series of safety failures and regulatory restrictions. Speaking before the Senate Commerce Committee, Ortberg said Boeing is prioritizing quality over speed following a January 2024 mid-air emergency involving a newly delivered 737 MAX 9.