Jonathan Wong
The Latest
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Symbotic Acquires Walmart’s Robotics Business in $200 Million Deal to Transform Supply Chains
Symbotic Inc., a leader in automation and artificial intelligence-enabled robotics, announced a significant deal to acquire Walmart's Advanced Systems and Robotics business for $200 million. The agreement, which includes potential contingent payments of up to $350 million based on performance, represents a major step in the companies' ongoing collaboration to revolutionize retail supply chain automation. 
Symbotic Inc., a leader in automation and artificial intelligence-enabled robotics, announced a significant deal to acquire Walmart's Advanced Systems and Robotics business for $200 million. The agreement, which includes potential contingent payments of up to $350 million based on performance, represents a major step in the companies' ongoing collaboration to revolutionize retail supply chain automation. -
Anduril to Build $1 Billion Defense Manufacturing Facility in Ohio
Anduril Industries, a defense technology company headquartered in Costa Mesa, California, has announced plans to build a state-of-the-art manufacturing facility in central Ohio, marking a significant investment in the U.S. defense sector. The project, called "Arsenal-1," represents a $1 billion commitment and is expected to create 4,000 jobs in the region. 
Anduril Industries, a defense technology company headquartered in Costa Mesa, California, has announced plans to build a state-of-the-art manufacturing facility in central Ohio, marking a significant investment in the U.S. defense sector. The project, called "Arsenal-1," represents a $1 billion commitment and is expected to create 4,000 jobs in the region. -
DOT Sues Southwest Airlines Over Chronically Delayed Flights
The U.S. Department of Transportation (DOT) has filed a lawsuit against Southwest Airlines, alleging that the Dallas-based carrier operated two "chronically delayed flights" over a five-month span in 2022, resulting in 180 disruptions. The lawsuit, filed in the U.S. District Court for the Northern District of California, seeks "maximum civil penalties" for what the department says is a breach of passenger protection laws. 
The U.S. Department of Transportation (DOT) has filed a lawsuit against Southwest Airlines, alleging that the Dallas-based carrier operated two "chronically delayed flights" over a five-month span in 2022, resulting in 180 disruptions. The lawsuit, filed in the U.S. District Court for the Northern District of California, seeks "maximum civil penalties" for what the department says is a breach of passenger protection laws. -
CFPB Sues Capital One, Alleging $2 Billion in Lost Savings for Customers
The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Capital One, accusing the bank of misleading customers and denying them more than $2 billion in interest. The federal agency alleges that Capital One failed to inform holders of its 360 Savings account about a higher-yield product, effectively keeping customers locked into accounts with significantly lower interest rates. 
The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Capital One, accusing the bank of misleading customers and denying them more than $2 billion in interest. The federal agency alleges that Capital One failed to inform holders of its 360 Savings account about a higher-yield product, effectively keeping customers locked into accounts with significantly lower interest rates. -
BlackRock’s Assets Hit Record $11.6 Trillion as Client Cash Inflows Surge
BlackRock Inc., the world's largest asset manager, reached a record $11.6 trillion in assets under management in the fourth quarter of 2024, fueled by a surge in client cash inflows and expanding investments in private markets. The firm reported a 21% increase in quarterly profits, highlighting its ability to navigate volatile markets and attract substantial investor capital. 
BlackRock Inc., the world's largest asset manager, reached a record $11.6 trillion in assets under management in the fourth quarter of 2024, fueled by a surge in client cash inflows and expanding investments in private markets. The firm reported a 21% increase in quarterly profits, highlighting its ability to navigate volatile markets and attract substantial investor capital. -
SEC Sues Elon Musk Over Alleged Failure to Disclose Twitter Stake, Accuses Billionaire of Securities Fraud
The Securities and Exchange Commission (SEC) filed a lawsuit Tuesday against Elon Musk, alleging the billionaire violated securities law by failing to disclose his significant stake in Twitter in a timely manner. The lawsuit, filed in U.S. District Court in Washington, D.C., claims Musk's delay in disclosure allowed him to purchase Twitter shares at "artificially low prices," depriving shareholders of over $150 million. 
The Securities and Exchange Commission (SEC) filed a lawsuit Tuesday against Elon Musk, alleging the billionaire violated securities law by failing to disclose his significant stake in Twitter in a timely manner. The lawsuit, filed in U.S. District Court in Washington, D.C., claims Musk's delay in disclosure allowed him to purchase Twitter shares at "artificially low prices," depriving shareholders of over $150 million. -
Starbucks Ends Open-Door Policy, Requires Purchases for Cafe Access
Starbucks has announced a significant shift in its customer policy, reversing a five-year-old rule that allowed non-paying visitors to use its restrooms and linger in its cafes. The policy, introduced in 2018 following a high-profile discrimination controversy, will now require customers to make a purchase to access facilities or remain on the premises. 
Starbucks has announced a significant shift in its customer policy, reversing a five-year-old rule that allowed non-paying visitors to use its restrooms and linger in its cafes. The policy, introduced in 2018 following a high-profile discrimination controversy, will now require customers to make a purchase to access facilities or remain on the premises. -
UK Watchdog Investigates Google’s Search Dominance Under New Antitrust Laws
The United Kingdom's Competition and Markets Authority (CMA) has launched a landmark investigation into Google's dominance in search and digital advertising, marking the first major case under the country's new competition rules. The inquiry aims to assess whether the tech giant's practices harm consumers, publishers, advertisers, and emerging competitors in an increasingly AI-driven search market. 
The United Kingdom's Competition and Markets Authority (CMA) has launched a landmark investigation into Google's dominance in search and digital advertising, marking the first major case under the country's new competition rules. The inquiry aims to assess whether the tech giant's practices harm consumers, publishers, advertisers, and emerging competitors in an increasingly AI-driven search market. -
OpenAI Proposes AI Blueprint for U.S. to Stay Ahead of China Amid Leadership Change
OpenAI has unveiled a sweeping set of proposals aimed at ensuring the United States retains its leadership in artificial intelligence, a move designed to counter China's rising influence in the sector. The recommendations, detailed in a document titled the "Economic Blueprint," emphasize the need for federal investment, regulatory frameworks, and international collaboration to solidify America's standing in AI development and deployment. 
OpenAI has unveiled a sweeping set of proposals aimed at ensuring the United States retains its leadership in artificial intelligence, a move designed to counter China's rising influence in the sector. The recommendations, detailed in a document titled the "Economic Blueprint," emphasize the need for federal investment, regulatory frameworks, and international collaboration to solidify America's standing in AI development and deployment. -
Lululemon Raises Fourth-Quarter Guidance, Stock Jumps
Lululemon Athletica Inc. raised its fourth-quarter revenue and earnings projections, citing strong consumer demand during the holiday shopping season. The athletic apparel retailer, known for its premium activewear, now expects net revenue to range between $3.56 billion and $3.58 billion, up from its earlier forecast of $3.48 billion to $3.51 billion. The revised guidance reflects an 11% to 12% increase compared with the fourth quarter of fiscal 2023, or a 6% to 7% rise when excluding the 53rd week of fiscal 2024. 
Lululemon Athletica Inc. raised its fourth-quarter revenue and earnings projections, citing strong consumer demand during the holiday shopping season. The athletic apparel retailer, known for its premium activewear, now expects net revenue to range between $3.56 billion and $3.58 billion, up from its earlier forecast of $3.48 billion to $3.51 billion. The revised guidance reflects an 11% to 12% increase compared with the fourth quarter of fiscal 2023, or a 6% to 7% rise when excluding the 53rd week of fiscal 2024.
