Jonathan Wong
The Latest
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Big Lots Announces Complete Shutdown, Begins Going-Out-of-Business Sales Amid Bankruptcy
Big Lots, the once-prominent discount retailer, has announced plans to close all of its remaining stores following months of financial struggles and an unsuccessful bid to secure a buyer. The company, which filed for Chapter 11 bankruptcy in September, will commence going-out-of-business (GOB) sales in the coming days, according to a press release issued Thursday. This marks the end of a 57-year history for the Columbus, Ohio-based chain. 
Big Lots, the once-prominent discount retailer, has announced plans to close all of its remaining stores following months of financial struggles and an unsuccessful bid to secure a buyer. The company, which filed for Chapter 11 bankruptcy in September, will commence going-out-of-business (GOB) sales in the coming days, according to a press release issued Thursday. This marks the end of a 57-year history for the Columbus, Ohio-based chain. -
Novo Nordisk Shares Drop Sharply Following Disappointing CagriSema Trial Results
Shares of Novo Nordisk plunged by as much as 24% on Friday, marking a significant setback for the Danish pharmaceutical giant after its late-stage trial results for the experimental weight-loss drug CagriSema fell short of expectations. By mid-afternoon in London, the stock had pared losses but was still down over 20%. Meanwhile, shares of rival Eli Lilly rose nearly 6% in U.S. pre-market trading, benefiting from Novo's stumble. 
Shares of Novo Nordisk plunged by as much as 24% on Friday, marking a significant setback for the Danish pharmaceutical giant after its late-stage trial results for the experimental weight-loss drug CagriSema fell short of expectations. By mid-afternoon in London, the stock had pared losses but was still down over 20%. Meanwhile, shares of rival Eli Lilly rose nearly 6% in U.S. pre-market trading, benefiting from Novo's stumble. -
Intel Reportedly Shortlists Bidders for Altera Chip Division
Intel Corp. has shortlisted a group of private equity firms and corporate suitors for the next phase of bidding for its Altera division, according to sources familiar with the process. This move is part of Intel's broader efforts to streamline operations and optimize its business portfolio. Altera specializes in low-power programmable chips and has become a focal point in Intel's divestiture plans. 
Intel Corp. has shortlisted a group of private equity firms and corporate suitors for the next phase of bidding for its Altera division, according to sources familiar with the process. This move is part of Intel's broader efforts to streamline operations and optimize its business portfolio. Altera specializes in low-power programmable chips and has become a focal point in Intel's divestiture plans. -
Apple Resists EU Push for Open Ecosystem
The European Union is intensifying its scrutiny of Apple, proposing measures aimed at enhancing interoperability between the tech giant's iOS and iPadOS operating systems and third-party devices. These measures, part of the Digital Markets Act (DMA) enforcement, have ignited a heated debate between Apple, the EU, and other major tech players like Meta Platforms over privacy and competition. 
The European Union is intensifying its scrutiny of Apple, proposing measures aimed at enhancing interoperability between the tech giant's iOS and iPadOS operating systems and third-party devices. These measures, part of the Digital Markets Act (DMA) enforcement, have ignited a heated debate between Apple, the EU, and other major tech players like Meta Platforms over privacy and competition. -
Teamsters Strike Amazon Facilities Nationwide, Demanding Labor Contract Amid Holiday Season
In a bold escalation of union activity, members of the International Brotherhood of Teamsters staged strikes at multiple Amazon facilities across the United States on Thursday. The labor action, timed during the busy holiday shopping season, underscores growing tensions between the e-commerce giant and its workforce over union recognition, pay, and working conditions. 
In a bold escalation of union activity, members of the International Brotherhood of Teamsters staged strikes at multiple Amazon facilities across the United States on Thursday. The labor action, timed during the busy holiday shopping season, underscores growing tensions between the e-commerce giant and its workforce over union recognition, pay, and working conditions. -
Frontier Airlines Launches $299 All-You-Can-Fly Annual Pass for 2025 Travelers
Frontier Airlines has announced its boldest travel deal yet: a $299 all-you-can-fly annual pass, offering budget-conscious travelers the opportunity to explore unlimited destinations across the United States, the Caribbean, Mexico, and Latin America. Dubbed the "GoWild!" pass, the deal is available as a limited-time pre-sale for the first 5,000 customers, with the price increasing to $499 once the initial batch is sold. 
Frontier Airlines has announced its boldest travel deal yet: a $299 all-you-can-fly annual pass, offering budget-conscious travelers the opportunity to explore unlimited destinations across the United States, the Caribbean, Mexico, and Latin America. Dubbed the "GoWild!" pass, the deal is available as a limited-time pre-sale for the first 5,000 customers, with the price increasing to $499 once the initial batch is sold. -
Merck Enters $2 Billion Deal for Oral Weight Loss Drug with Chinese Biotech Hansoh
Merck & Co. has secured a licensing agreement with Chinese drugmaker Hansoh Pharma for an experimental oral weight-loss drug, marking its latest foray into the burgeoning obesity treatment market. The deal, announced Wednesday, could be worth up to $2 billion, with Merck betting on the potential of Hansoh's preclinical drug, HS-10535, to compete with existing blockbuster injectable treatments. 
Merck & Co. has secured a licensing agreement with Chinese drugmaker Hansoh Pharma for an experimental oral weight-loss drug, marking its latest foray into the burgeoning obesity treatment market. The deal, announced Wednesday, could be worth up to $2 billion, with Merck betting on the potential of Hansoh's preclinical drug, HS-10535, to compete with existing blockbuster injectable treatments. -
CFPB Launches Consumer Tool Amid Warnings of Credit Card Rewards Scams and High Fees
The Consumer Financial Protection Bureau (CFPB) has issued a warning to credit card companies about deceptive practices that harm consumers, especially during the holiday shopping season. The agency has accused some issuers of manipulating rewards programs, devaluing points or miles, and creating unnecessary obstacles for consumers attempting to redeem their earned rewards. These practices, often buried in fine print, have prompted the CFPB to launch new initiatives to protect consumers and enhance transparency. 
The Consumer Financial Protection Bureau (CFPB) has issued a warning to credit card companies about deceptive practices that harm consumers, especially during the holiday shopping season. The agency has accused some issuers of manipulating rewards programs, devaluing points or miles, and creating unnecessary obstacles for consumers attempting to redeem their earned rewards. These practices, often buried in fine print, have prompted the CFPB to launch new initiatives to protect consumers and enhance transparency. -
Honda and Nissan Reportedly in Merger Talks to Form Global Automotive Powerhouse
Japanese automakers Honda Motor Co. and Nissan Motor Co. are reportedly preparing to enter merger negotiations in an effort to bolster their competitiveness amid mounting pressure in the global automotive industry. According to a report from Nikkei Asia, the two companies aim to form a unified entity under a holding company structure, potentially incorporating Mitsubishi Motors-in which Nissan already holds a 24% stake. 
Japanese automakers Honda Motor Co. and Nissan Motor Co. are reportedly preparing to enter merger negotiations in an effort to bolster their competitiveness amid mounting pressure in the global automotive industry. According to a report from Nikkei Asia, the two companies aim to form a unified entity under a holding company structure, potentially incorporating Mitsubishi Motors-in which Nissan already holds a 24% stake. -
Pfizer Projects Stable 2025 Earnings Despite $1 Billion Hit from Medicare Changes, Shares Rise
Pfizer Inc. offered a cautiously optimistic forecast for 2025 on Tuesday, predicting adjusted profits that align with Wall Street expectations and signaling stability despite mounting investor pressure and regulatory hurdles. The pharmaceutical giant's outlook, which included steady revenues for its COVID-19 products, helped its shares rise by approximately 4% in early trading. 
Pfizer Inc. offered a cautiously optimistic forecast for 2025 on Tuesday, predicting adjusted profits that align with Wall Street expectations and signaling stability despite mounting investor pressure and regulatory hurdles. The pharmaceutical giant's outlook, which included steady revenues for its COVID-19 products, helped its shares rise by approximately 4% in early trading.
