Jonathan Wong
The Latest
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BlackRock Acquires HPS Investment Partners for $12 Billion, Expands in Private Credit Market
BlackRock, the world's largest asset manager, has announced a $12 billion acquisition of private credit manager HPS Investment Partners. The deal, expected to close by mid-2025 pending regulatory approvals, will significantly bolster BlackRock's presence in the booming private credit market. 
BlackRock, the world's largest asset manager, has announced a $12 billion acquisition of private credit manager HPS Investment Partners. The deal, expected to close by mid-2025 pending regulatory approvals, will significantly bolster BlackRock's presence in the booming private credit market. -
Super Micro Soars 30% as Review Clears Management of Misconduct, Sets Path for CFO Transition
Shares of Super Micro Computer (SMCI) surged over 30% on Monday after the release of a special committee report reaffirmed there was "no evidence of misconduct" within the company's leadership. The embattled AI server maker, which has faced scrutiny over its financial reporting and governance, also announced plans to transition its Chief Financial Officer and bolster its compliance infrastructure. 
Shares of Super Micro Computer (SMCI) surged over 30% on Monday after the release of a special committee report reaffirmed there was "no evidence of misconduct" within the company's leadership. The embattled AI server maker, which has faced scrutiny over its financial reporting and governance, also announced plans to transition its Chief Financial Officer and bolster its compliance infrastructure. -
U.S. Pledges $7.54 Billion Loan for Stellantis-Samsung Battery Plants Amid Industry Shakeup
The U.S. Department of Energy announced a conditional commitment of up to $7.54 billion in loans to StarPlus Energy LLC, a joint venture between Stellantis and Samsung SDI, to support the construction of two electric vehicle (EV) battery plants in Kokomo, Indiana. The proposed project marks a significant investment in the domestic EV industry and is expected to play a crucial role in advancing the country's clean energy agenda. 
The U.S. Department of Energy announced a conditional commitment of up to $7.54 billion in loans to StarPlus Energy LLC, a joint venture between Stellantis and Samsung SDI, to support the construction of two electric vehicle (EV) battery plants in Kokomo, Indiana. The proposed project marks a significant investment in the domestic EV industry and is expected to play a crucial role in advancing the country's clean energy agenda. -
Intel CEO Pat Gelsinger Resigns, Stock Rebounds 4%
Intel announced Monday that its CEO, Pat Gelsinger, has stepped down effective December 1, concluding a nearly four-year tenure marked by ambitious goals, intense competition, and significant financial challenges. Gelsinger's departure follows a turbulent period for the semiconductor giant, which has struggled to keep pace with industry rivals amid a rapidly evolving market landscape. 
Intel announced Monday that its CEO, Pat Gelsinger, has stepped down effective December 1, concluding a nearly four-year tenure marked by ambitious goals, intense competition, and significant financial challenges. Gelsinger's departure follows a turbulent period for the semiconductor giant, which has struggled to keep pace with industry rivals amid a rapidly evolving market landscape. -
Volkswagen Workers Launch Strikes Across Germany Over Wage Cuts and Factory Closure Plans
Volkswagen workers across Germany initiated strikes on Monday in protest against the automaker's controversial plans to lay off thousands of employees, cut wages, and potentially close factories for the first time in its nearly 90-year history. The escalating labor conflict has brought operations to a halt at nine of Volkswagen's car and component plants, with workers demanding a reversal of what they see as draconian measures. 
Volkswagen workers across Germany initiated strikes on Monday in protest against the automaker's controversial plans to lay off thousands of employees, cut wages, and potentially close factories for the first time in its nearly 90-year history. The escalating labor conflict has brought operations to a halt at nine of Volkswagen's car and component plants, with workers demanding a reversal of what they see as draconian measures. -
Carlos Tavares Steps Down as Stellantis CEO Amid Plummeting Sales and Labor Backlash
Carlos Tavares, the CEO of Stellantis, has resigned from his position effective immediately, marking the end of a tenure marked by profitability and controversy. Stellantis, the world's fourth-largest automaker and parent company of brands such as Jeep, Dodge, Chrysler, and Peugeot, announced the resignation on Sunday, attributing the decision to a divergence of views between Tavares and the company's board of directors. 
Carlos Tavares, the CEO of Stellantis, has resigned from his position effective immediately, marking the end of a tenure marked by profitability and controversy. Stellantis, the world's fourth-largest automaker and parent company of brands such as Jeep, Dodge, Chrysler, and Peugeot, announced the resignation on Sunday, attributing the decision to a divergence of views between Tavares and the company's board of directors. -
Volkswagen Faces $1.4 Billion Tax Evasion Accusation in India
Volkswagen's India unit is facing serious allegations of tax evasion after being accused of underpaying import duties on car components by a staggering $1.4 billion. The accusation stems from a September 30 notice issued by India's Office of the Commissioner of Customs in Maharashtra, which claimed the automaker willfully misclassified imported car parts to evade higher tax rates. 
Volkswagen's India unit is facing serious allegations of tax evasion after being accused of underpaying import duties on car components by a staggering $1.4 billion. The accusation stems from a September 30 notice issued by India's Office of the Commissioner of Customs in Maharashtra, which claimed the automaker willfully misclassified imported car parts to evade higher tax rates. -
Amgen’s MariTide Shows Promise With 20% Weight Loss, Yet Shares Dip 10%
Amgen Inc. announced on Tuesday that its experimental weight-loss drug, MariTide, demonstrated an average weight reduction of up to 20% over a year in a critical mid-stage clinical trial. Despite the positive results, the company's stock dropped 10%, as analysts expressed skepticism over whether the drug met the high expectations for its potential in the competitive obesity treatment market. 
Amgen Inc. announced on Tuesday that its experimental weight-loss drug, MariTide, demonstrated an average weight reduction of up to 20% over a year in a critical mid-stage clinical trial. Despite the positive results, the company's stock dropped 10%, as analysts expressed skepticism over whether the drug met the high expectations for its potential in the competitive obesity treatment market. -
Walmart Scales Back DEI Programs Amid Right-Wing Backlash
Walmart, the world's largest retailer and private employer in the United States, announced it will phase out several of its diversity, equity, and inclusion (DEI) initiatives, citing a desire to adapt to its employees and customers while facing increasing criticism from conservative groups. The changes reflect a growing trend among major corporations scaling back social responsibility programs in response to heightened political and legal scrutiny. 
Walmart, the world's largest retailer and private employer in the United States, announced it will phase out several of its diversity, equity, and inclusion (DEI) initiatives, citing a desire to adapt to its employees and customers while facing increasing criticism from conservative groups. The changes reflect a growing trend among major corporations scaling back social responsibility programs in response to heightened political and legal scrutiny. -
Best Buy Cuts Full-Year Forecast as Holiday Sales Struggle to Lift Weak Demand
Best Buy lowered its full-year sales forecast on Tuesday, citing softer demand for consumer electronics and subdued expectations for the holiday season. Despite early shopping trends and the release of new products such as AI-enabled laptops and the latest iPhones, the retailer reported third-quarter earnings that missed Wall Street estimates, highlighting the challenges of a post-pandemic retail landscape. 
Best Buy lowered its full-year sales forecast on Tuesday, citing softer demand for consumer electronics and subdued expectations for the holiday season. Despite early shopping trends and the release of new products such as AI-enabled laptops and the latest iPhones, the retailer reported third-quarter earnings that missed Wall Street estimates, highlighting the challenges of a post-pandemic retail landscape.
