Jonathan Wong
The Latest
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Microsoft Backs Major Overhaul as OpenAI Clears Path Toward Possible IPO
OpenAI, the company behind ChatGPT, has unveiled a sweeping corporate restructuring that could pave the way for an initial public offering-an extraordinary pivot from its origins as a non-profit research lab. The move, developed in coordination with longtime partner Microsoft, redefines the governance, funding, and ownership framework of one of the most influential artificial intelligence companies in the world. 
OpenAI, the company behind ChatGPT, has unveiled a sweeping corporate restructuring that could pave the way for an initial public offering-an extraordinary pivot from its origins as a non-profit research lab. The move, developed in coordination with longtime partner Microsoft, redefines the governance, funding, and ownership framework of one of the most influential artificial intelligence companies in the world. -
Boeing Returns to Positive Cash Flow for First Time Since 2023 but Takes $4.9 Billion Hit on 777X Delays
Boeing reported Wednesday that aircraft deliveries and improved operations helped it generate positive free cash flow for the first time in nearly two years, even as the company absorbed a $4.9 billion charge tied to further delays of its long-awaited 777X jet. The results underscore both progress and persistent setbacks as CEO Kelly Ortberg pushes to restore financial stability and regulatory trust at the U.S. aerospace giant. 
Boeing reported Wednesday that aircraft deliveries and improved operations helped it generate positive free cash flow for the first time in nearly two years, even as the company absorbed a $4.9 billion charge tied to further delays of its long-awaited 777X jet. The results underscore both progress and persistent setbacks as CEO Kelly Ortberg pushes to restore financial stability and regulatory trust at the U.S. aerospace giant. -
UPS Cuts 48,000 Jobs, Closes 93 Facilities as Turnaround Plan Accelerates
United Parcel Service has eliminated 48,000 jobs so far this year, part of a sweeping restructuring effort that has closed dozens of facilities and reshaped the company's relationship with Amazon. The cuts, disclosed Tuesday alongside stronger-than-expected third-quarter earnings, signal the scale of UPS's turnaround as it works to streamline operations and offset declining parcel volumes. 
United Parcel Service has eliminated 48,000 jobs so far this year, part of a sweeping restructuring effort that has closed dozens of facilities and reshaped the company's relationship with Amazon. The cuts, disclosed Tuesday alongside stronger-than-expected third-quarter earnings, signal the scale of UPS's turnaround as it works to streamline operations and offset declining parcel volumes. -
Tesla Board Warns Musk Could Quit Without Approval of Record $1 Trillion Pay Package
Elon Musk's future at Tesla Inc. may hinge on a record $1 trillion compensation package that the company's board says is critical to retaining his leadership. In a letter to shareholders released ahead of Tesla's annual meeting, Chair Robyn Denholm made clear that the proposed pay plan is "not just another corporate agenda item," but a decisive measure to keep Musk committed to the company for the next decade. 
Elon Musk's future at Tesla Inc. may hinge on a record $1 trillion compensation package that the company's board says is critical to retaining his leadership. In a letter to shareholders released ahead of Tesla's annual meeting, Chair Robyn Denholm made clear that the proposed pay plan is "not just another corporate agenda item," but a decisive measure to keep Musk committed to the company for the next decade. -
Amazon to Slash Up to 30,000 Corporate Jobs as AI and Cost Cuts Reshape Workforce
Amazon is preparing to eliminate as many as 30,000 corporate jobs beginning Tuesday, marking one of its largest workforce reductions since the company cut 27,000 positions in late 2022, according to three people familiar with the matter. 
Amazon is preparing to eliminate as many as 30,000 corporate jobs beginning Tuesday, marking one of its largest workforce reductions since the company cut 27,000 positions in late 2022, according to three people familiar with the matter. -
EU Accuses Meta and TikTok of Breaking Transparency Rules Under Landmark Digital Services Act
The European Commission said Friday that Meta Platforms and TikTok have breached transparency obligations under the European Union's Digital Services Act, accusing both companies of failing to give researchers adequate access to public data and warning that violations could result in fines of up to 6% of their global annual revenue. 
The European Commission said Friday that Meta Platforms and TikTok have breached transparency obligations under the European Union's Digital Services Act, accusing both companies of failing to give researchers adequate access to public data and warning that violations could result in fines of up to 6% of their global annual revenue. -
Intel Shares Soar as Cost Cuts, AI Investments Mark Strongest Earnings Since 2023
Intel Corp. shares surged nearly 9% Friday after the chipmaker posted its strongest earnings since 2023, signaling early success in CEO Lip-Bu Tan's sweeping turnaround plan that combines aggressive cost cuts, strategic investments, and a renewed focus on artificial intelligence. 
Intel Corp. shares surged nearly 9% Friday after the chipmaker posted its strongest earnings since 2023, signaling early success in CEO Lip-Bu Tan's sweeping turnaround plan that combines aggressive cost cuts, strategic investments, and a renewed focus on artificial intelligence. -
Target Cuts 1,800 Corporate Jobs as Sales Slump Deepens Ahead of Holiday Season
Target Corp. is eliminating about 1,800 corporate positions-its largest round of layoffs in a decade-as the retailer battles stagnant sales, shifting consumer habits, and backlash over its retreat from diversity programs. The job cuts, announced Thursday, include roughly 1,000 current layoffs and 800 unfilled positions, amounting to about 8% of Target's global corporate workforce. 
Target Corp. is eliminating about 1,800 corporate positions-its largest round of layoffs in a decade-as the retailer battles stagnant sales, shifting consumer habits, and backlash over its retreat from diversity programs. The job cuts, announced Thursday, include roughly 1,000 current layoffs and 800 unfilled positions, amounting to about 8% of Target's global corporate workforce. -
Beyond Meat Stock Soars 600% in Three Days as Meme Traders Ignite Frenzied Rally
Beyond Meat shares staged an astonishing rebound this week, surging nearly 600% over three trading sessions as retail investors and meme-stock enthusiasts piled into the struggling plant-based meat maker. The rally marks the stock's sharpest ascent since its 2019 debut, when it briefly traded above $230 per share before collapsing into penny-stock territory. 
Beyond Meat shares staged an astonishing rebound this week, surging nearly 600% over three trading sessions as retail investors and meme-stock enthusiasts piled into the struggling plant-based meat maker. The rally marks the stock's sharpest ascent since its 2019 debut, when it briefly traded above $230 per share before collapsing into penny-stock territory. -
Coca-Cola Beats Earnings Forecasts as Zero-Sugar Sales Surge and Boycott Impact Fades
Coca-Cola Co. reported stronger-than-expected third-quarter earnings Tuesday, lifted by resilient global demand for its zero-sugar beverages and Fairlife dairy products, even as its flagship Coke line continued to feel the effects of changing consumer habits and lingering reputational challenges. 
Coca-Cola Co. reported stronger-than-expected third-quarter earnings Tuesday, lifted by resilient global demand for its zero-sugar beverages and Fairlife dairy products, even as its flagship Coke line continued to feel the effects of changing consumer habits and lingering reputational challenges.
