Jonathan Wong
The Latest
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Walmart Fires Florida Workers as Supreme Court Clears Path for Trump to End Migrant Protections: Report
Walmart has begun terminating employees at select Florida stores following a Supreme Court ruling that permits the Trump administration to revoke Temporary Protected Status for hundreds of thousands of migrants, according to people familiar with the matter. The move comes as companies across the state respond to shifting legal requirements tied to federal work authorization. 
Walmart has begun terminating employees at select Florida stores following a Supreme Court ruling that permits the Trump administration to revoke Temporary Protected Status for hundreds of thousands of migrants, according to people familiar with the matter. The move comes as companies across the state respond to shifting legal requirements tied to federal work authorization. -
Wells Fargo Cleared for Growth as Fed Lifts $1.95 Trillion Asset Cap After Seven-Year Scandal Clampdown
Wells Fargo received regulatory clearance Tuesday to grow its balance sheet for the first time in seven years, after the Federal Reserve lifted a punitive $1.95 trillion cap on the bank's assets. The decision, which follows years of compliance efforts and leadership changes, marks a turning point in the San Francisco-based bank's recovery from its fake accounts scandal and broader risk-management failures. 
Wells Fargo received regulatory clearance Tuesday to grow its balance sheet for the first time in seven years, after the Federal Reserve lifted a punitive $1.95 trillion cap on the bank's assets. The decision, which follows years of compliance efforts and leadership changes, marks a turning point in the San Francisco-based bank's recovery from its fake accounts scandal and broader risk-management failures. -
Dollar General Lifts Outlook, Attracts Higher-Income Shoppers Amid Tariff Jitters
Dollar General raised its full-year forecast on Tuesday after posting stronger-than-expected earnings and revenue in the first quarter, as tariff uncertainty and economic pressures drove budget- and middle-income consumers to its stores. Shares surged more than 13%, buoyed by growing transaction sizes and gains across merchandise categories. 
Dollar General raised its full-year forecast on Tuesday after posting stronger-than-expected earnings and revenue in the first quarter, as tariff uncertainty and economic pressures drove budget- and middle-income consumers to its stores. Shares surged more than 13%, buoyed by growing transaction sizes and gains across merchandise categories. -
Toyota to Take Toyota Industries Private in $33 Billion Deal, Triggering Shareholder Backlash
Toyota Motor will take its key affiliate Toyota Industries private in a $33 billion deal, a landmark transaction that unwinds decades of cross-shareholding and strengthens the founding Toyoda family's grip on Japan's most powerful corporate group. The buyout, announced Tuesday, includes a tender offer of ¥16,300 per share, representing an 11% discount to Toyota Industries' closing price before the deal was made public. 
Toyota Motor will take its key affiliate Toyota Industries private in a $33 billion deal, a landmark transaction that unwinds decades of cross-shareholding and strengthens the founding Toyoda family's grip on Japan's most powerful corporate group. The buyout, announced Tuesday, includes a tender offer of ¥16,300 per share, representing an 11% discount to Toyota Industries' closing price before the deal was made public. -
Meta Signs 20-Year Nuclear Deal With Constellation, Triggering 15% Stock Surge
Meta Platforms has signed a 20-year agreement to purchase the full output of the Clinton Clean Energy Center, a nuclear plant in Illinois operated by Constellation Energy, marking the tech giant's first direct deal with a nuclear facility. The announcement sent Constellation shares soaring more than 15% on Tuesday. 
Meta Platforms has signed a 20-year agreement to purchase the full output of the Clinton Clean Energy Center, a nuclear plant in Illinois operated by Constellation Energy, marking the tech giant's first direct deal with a nuclear facility. The announcement sent Constellation shares soaring more than 15% on Tuesday. -
Disney Cuts Hundreds of Jobs Across Film, TV, and Finance as Cost-Saving Push Continues
Disney is laying off several hundred employees across its global operations, including teams in film and television marketing, publicity, casting and development, and corporate finance, according to people familiar with the matter. The cuts, confirmed Monday, are the latest in a multi-year cost-reduction effort as the company continues to transition from traditional cable and broadcast models to streaming-first distribution. 
Disney is laying off several hundred employees across its global operations, including teams in film and television marketing, publicity, casting and development, and corporate finance, according to people familiar with the matter. The cuts, confirmed Monday, are the latest in a multi-year cost-reduction effort as the company continues to transition from traditional cable and broadcast models to streaming-first distribution. -
Bristol Myers Strikes $11.1 Billion Cancer Drug Deal with BioNTech to Expand Oncology Pipeline
Bristol Myers Squibb will pay $1.5 billion upfront to BioNTech SE for rights to co-develop and commercialize the German biotech's experimental cancer drug BNT327, the companies said Monday, in a partnership that could ultimately exceed $11 billion in total value. The agreement marks one of the largest oncology licensing deals in recent years and reflects intensifying competition in the immuno-oncology space. 
Bristol Myers Squibb will pay $1.5 billion upfront to BioNTech SE for rights to co-develop and commercialize the German biotech's experimental cancer drug BNT327, the companies said Monday, in a partnership that could ultimately exceed $11 billion in total value. The agreement marks one of the largest oncology licensing deals in recent years and reflects intensifying competition in the immuno-oncology space. -
Best Buy Slashes Outlook as Tariffs Hit Sales; Stock Down 3% After $8.77 Billion Q1 Revenue
Best Buy slashed its full-year sales and profit guidance on Thursday, citing intensifying tariff pressures and weakening demand for high-ticket electronics. The Minneapolis-based electronics retailer reported a steeper-than-expected decline in first-quarter revenue and profit, triggering a nearly 3% fall in its stock in premarket trading. 
Best Buy slashed its full-year sales and profit guidance on Thursday, citing intensifying tariff pressures and weakening demand for high-ticket electronics. The Minneapolis-based electronics retailer reported a steeper-than-expected decline in first-quarter revenue and profit, triggering a nearly 3% fall in its stock in premarket trading. -
Ford Recalls 1.1 Million Vehicles Over Camera Glitch; F-150, Bronco, Edge Among Models Affected
Ford Motor Co. is recalling 1,075,299 vehicles in the U.S. due to a software defect that may cause rearview camera images to freeze, delay, or fail to display, increasing the risk of crashes. The recall affects more than a dozen models spanning the 2021 to 2025 model years, including bestsellers like the F-150, Bronco, and Edge. 
Ford Motor Co. is recalling 1,075,299 vehicles in the U.S. due to a software defect that may cause rearview camera images to freeze, delay, or fail to display, increasing the risk of crashes. The recall affects more than a dozen models spanning the 2021 to 2025 model years, including bestsellers like the F-150, Bronco, and Edge. -
Tesla’s Europe Sales Fall 49% in April Amid Musk Backlash and Chinese EV Competition
Tesla's vehicle sales in Europe plunged 49% year-over-year in April, underscoring the mounting challenges the electric automaker faces as it grapples with intensifying competition, factory disruptions, and a deepening backlash over CEO Elon Musk's political entanglements. 
Tesla's vehicle sales in Europe plunged 49% year-over-year in April, underscoring the mounting challenges the electric automaker faces as it grapples with intensifying competition, factory disruptions, and a deepening backlash over CEO Elon Musk's political entanglements.
