Jonathan Wong
The Latest
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Burberry's Stock Soars Following Revival Strategy Centered on Signature Trench Coats, Scarves
Burberry, the storied British luxury house, unveiled an ambitious new strategy on Thursday aimed at reconnecting with its roots through a focus on heritage designs and classic outerwear. CEO Joshua Schulman, who joined the brand in July, revealed the "Burberry Forward" plan, outlining a blueprint intended to realign Burberry's image and restore its flagging fortunes. The announcement was met with enthusiasm in the market, as Burberry shares surged 18.7%-marking the biggest intraday gain in the company's history-though the stock remains down by 40% for the year. 
Burberry, the storied British luxury house, unveiled an ambitious new strategy on Thursday aimed at reconnecting with its roots through a focus on heritage designs and classic outerwear. CEO Joshua Schulman, who joined the brand in July, revealed the "Burberry Forward" plan, outlining a blueprint intended to realign Burberry's image and restore its flagging fortunes. The announcement was met with enthusiasm in the market, as Burberry shares surged 18.7%-marking the biggest intraday gain in the company's history-though the stock remains down by 40% for the year. -
Attorney Targets Celebrities Linked to Sean "Diddy" Combs 'Freak-Off' Parties Amid Legal Threats
In a dramatic escalation surrounding the legal fallout from Sean "Diddy" Combs' infamous "freak-off" parties, attorney Tony Buzbee, who represents over 120 alleged victims, has announced plans to pursue other high-profile attendees, including celebrities, politicians, and business figures. Buzbee, featured in Tubi's documentary "TMZ Presents The Downfall of Diddy: Inside the Freak-Offs," emphasized that even bystanders who failed to intervene during alleged abuses may be held accountable. 
In a dramatic escalation surrounding the legal fallout from Sean "Diddy" Combs' infamous "freak-off" parties, attorney Tony Buzbee, who represents over 120 alleged victims, has announced plans to pursue other high-profile attendees, including celebrities, politicians, and business figures. Buzbee, featured in Tubi's documentary "TMZ Presents The Downfall of Diddy: Inside the Freak-Offs," emphasized that even bystanders who failed to intervene during alleged abuses may be held accountable. -
Satirical News Site The Onion Acquires Infowars in Bankruptcy Auction, Ending Alex Jones' Reign of Conspiracies
In a surprising twist, satirical news outlet The Onion has won the bid to acquire Infowars, the media platform founded by controversial conspiracy theorist Alex Jones. The sale, finalized as part of a court-ordered process to pay off damages related to Jones' defamatory claims about the 2012 Sandy Hook Elementary School shooting, marks a significant turning point for the beleaguered broadcaster. 
In a surprising twist, satirical news outlet The Onion has won the bid to acquire Infowars, the media platform founded by controversial conspiracy theorist Alex Jones. The sale, finalized as part of a court-ordered process to pay off damages related to Jones' defamatory claims about the 2012 Sandy Hook Elementary School shooting, marks a significant turning point for the beleaguered broadcaster. -
Just Eat Takeaway Sells Grubhub for $650 Million in Major Loss Deal, Down from $7.3 Billion
Just Eat Takeaway has agreed to sell its U.S.-based meal delivery unit, Grubhub, to food delivery startup Wonder for $650 million, marking a steep loss for the European company after it acquired the platform for $7.3 billion in 2020. The deal, expected to close in the first quarter of 2025 pending regulatory approval, sent shares of the Amsterdam-listed Just Eat soaring by 20% in early trading on Wednesday. The transaction highlights Just Eat's effort to exit the U.S. market and focus on its European operations. 
Just Eat Takeaway has agreed to sell its U.S.-based meal delivery unit, Grubhub, to food delivery startup Wonder for $650 million, marking a steep loss for the European company after it acquired the platform for $7.3 billion in 2020. The deal, expected to close in the first quarter of 2025 pending regulatory approval, sent shares of the Amsterdam-listed Just Eat soaring by 20% in early trading on Wednesday. The transaction highlights Just Eat's effort to exit the U.S. market and focus on its European operations. -
VW and Rivian Launch $5.8 Billion Joint Venture to Tackle EV Market Challenges
Volkswagen Group has expanded its planned investment in electric vehicle (EV) startup Rivian Automotive, increasing the total to $5.8 billion as the two companies announced a broader joint venture aimed at sharing critical technology and scaling production. The announcement sent shares of Rivian soaring by nearly 20% in early trading on Wednesday. However, the investment hinges on Rivian meeting a series of stringent performance milestones. 
Volkswagen Group has expanded its planned investment in electric vehicle (EV) startup Rivian Automotive, increasing the total to $5.8 billion as the two companies announced a broader joint venture aimed at sharing critical technology and scaling production. The announcement sent shares of Rivian soaring by nearly 20% in early trading on Wednesday. However, the investment hinges on Rivian meeting a series of stringent performance milestones. -
Spirit Airlines Faces Bankruptcy After Failed Frontier Merger Talks, Stock Plunges
Spirit Airlines is reportedly preparing to file for Chapter 11 bankruptcy protection following the collapse of its merger talks with Frontier Airlines, marking its second failed deal attempt in less than two years. The ultra-low-cost carrier, known for its budget-friendly flights, has faced mounting financial challenges, including significant debt maturities and operational losses. The anticipated bankruptcy filing, expected within weeks, comes as Spirit's stock plummeted more than 55% on Wednesday, marking one of the steepest declines in its history. 
Spirit Airlines is reportedly preparing to file for Chapter 11 bankruptcy protection following the collapse of its merger talks with Frontier Airlines, marking its second failed deal attempt in less than two years. The ultra-low-cost carrier, known for its budget-friendly flights, has faced mounting financial challenges, including significant debt maturities and operational losses. The anticipated bankruptcy filing, expected within weeks, comes as Spirit's stock plummeted more than 55% on Wednesday, marking one of the steepest declines in its history. -
Boeing’s October Deliveries Plunge Amid Strike Fallout, Major Layoffs Expected
Boeing is grappling with the aftermath of a 53-day machinist strike that disrupted production across its key aircraft programs, with over 32,000 union workers now set to return to factories by November 12. While the machinists have approved a new contract that includes a 38% pay raise over four years, the company warns that getting production back to full speed will take weeks. 
Boeing is grappling with the aftermath of a 53-day machinist strike that disrupted production across its key aircraft programs, with over 32,000 union workers now set to return to factories by November 12. While the machinists have approved a new contract that includes a 38% pay raise over four years, the company warns that getting production back to full speed will take weeks. -
Home Depot Tops Q3 Expectations as Consumer Spending Rebounds Slightly
Home Depot delivered better-than-expected third-quarter results on Tuesday, hinting at a potential stabilization in consumer spending after a prolonged downturn in the home improvement sector. Revenue for the Atlanta-based retailer climbed 6.6% year-over-year to $40.22 billion, beating Wall Street forecasts of $39.31 billion, according to FactSet. The positive performance prompted the company to raise its full-year revenue outlook, citing strong demand for seasonal goods and hurricane-related repairs. 
Home Depot delivered better-than-expected third-quarter results on Tuesday, hinting at a potential stabilization in consumer spending after a prolonged downturn in the home improvement sector. Revenue for the Atlanta-based retailer climbed 6.6% year-over-year to $40.22 billion, beating Wall Street forecasts of $39.31 billion, according to FactSet. The positive performance prompted the company to raise its full-year revenue outlook, citing strong demand for seasonal goods and hurricane-related repairs. -
Shell Wins Appeal, Escapes Landmark Dutch Ruling to Slash Carbon Emissions by 2030
In a decision closely watched by global energy and environmental sectors, a Dutch appeals court on Tuesday overturned a 2021 ruling that mandated oil giant Shell to cut its carbon emissions by 45% by 2030, compared to 2019 levels. The court's decision, announced as global leaders convened for the COP29 climate summit in Azerbaijan, effectively nullifies the precedent-setting judgment, underscoring the challenges of enforcing corporate accountability in combating climate change. 
In a decision closely watched by global energy and environmental sectors, a Dutch appeals court on Tuesday overturned a 2021 ruling that mandated oil giant Shell to cut its carbon emissions by 45% by 2030, compared to 2019 levels. The court's decision, announced as global leaders convened for the COP29 climate summit in Azerbaijan, effectively nullifies the precedent-setting judgment, underscoring the challenges of enforcing corporate accountability in combating climate change. -
NHTSA Investigates Engine Failures in 1.4 Million Honda and Acura Vehicles
The National Highway Traffic Safety Administration (NHTSA) has launched an investigation into potential engine failures affecting up to 1.4 million Honda and Acura vehicles, following 173 complaints from owners regarding mechanical issues. 
The National Highway Traffic Safety Administration (NHTSA) has launched an investigation into potential engine failures affecting up to 1.4 million Honda and Acura vehicles, following 173 complaints from owners regarding mechanical issues.
