Jonathan Wong
The Latest
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Macy’s to Close 65 Stores by Year-End in Aggressive Cost-Cutting Plan
Macy's Inc., once a titan of American retail, has announced plans to accelerate its store closure strategy, with 65 locations set to shutter by the end of the year. This move is part of a broader three-year plan to close 150 underperforming stores in an effort to streamline operations and revitalize the struggling brand. 
Macy's Inc., once a titan of American retail, has announced plans to accelerate its store closure strategy, with 65 locations set to shutter by the end of the year. This move is part of a broader three-year plan to close 150 underperforming stores in an effort to streamline operations and revitalize the struggling brand. -
GM Abandons $50 Billion Robotaxi Ambition, Shifts Cruise Focus to Personal Vehicles
General Motors has made a pivotal decision to abandon its ambitious robotaxi venture under Cruise, a self-driving subsidiary it acquired in 2016. After spending nearly $10 billion over a decade to develop autonomous taxi technology, GM announced it will shift its focus to integrating self-driving features into personal vehicles rather than pursuing the costly and uncertain robotaxi business. 
General Motors has made a pivotal decision to abandon its ambitious robotaxi venture under Cruise, a self-driving subsidiary it acquired in 2016. After spending nearly $10 billion over a decade to develop autonomous taxi technology, GM announced it will shift its focus to integrating self-driving features into personal vehicles rather than pursuing the costly and uncertain robotaxi business. -
Elon Musk’s Net Worth Surges Past $400 Billion, Setting Historic Milestone
Elon Musk has become the first person in history to surpass a net worth of $400 billion, according to Bloomberg. The landmark achievement cements Musk's position as the world's wealthiest individual, driven by skyrocketing valuations of his companies, including Tesla and SpaceX. 
Elon Musk has become the first person in history to surpass a net worth of $400 billion, according to Bloomberg. The landmark achievement cements Musk's position as the world's wealthiest individual, driven by skyrocketing valuations of his companies, including Tesla and SpaceX. -
Eli Lilly Teams with Ro to Expand Access to Lower-Cost Zepbound Vials
Eli Lilly has partnered with direct-to-consumer health-care startup Ro to offer more affordable single-dose vials of its weight-loss drug Zepbound, aiming to streamline access to the popular treatment. The collaboration marks a significant step in the pharmaceutical industry's embrace of telehealth and direct-to-consumer models to meet soaring demand for obesity and Type 2 diabetes medications. 
Eli Lilly has partnered with direct-to-consumer health-care startup Ro to offer more affordable single-dose vials of its weight-loss drug Zepbound, aiming to streamline access to the popular treatment. The collaboration marks a significant step in the pharmaceutical industry's embrace of telehealth and direct-to-consumer models to meet soaring demand for obesity and Type 2 diabetes medications. -
Macy’s Employee Hid $151 Million in Delivery Costs Over Three Years, Investigation Reveals
Macy's announced Wednesday it had concluded a forensic investigation into an accounting scandal involving an employee who intentionally concealed $151 million in delivery expenses over nearly three years. The revelation, which delayed the department store chain's quarterly earnings report, underscores the challenges facing the retailer as it attempts to navigate a difficult period of transformation. 
Macy's announced Wednesday it had concluded a forensic investigation into an accounting scandal involving an employee who intentionally concealed $151 million in delivery expenses over nearly three years. The revelation, which delayed the department store chain's quarterly earnings report, underscores the challenges facing the retailer as it attempts to navigate a difficult period of transformation. -
Judge Rejects Onion’s Bid to Acquire Infowars
A U.S. bankruptcy judge on Tuesday rejected The Onion's attempt to acquire Alex Jones's far-right media platform Infowars, citing flaws in the auction process and insufficient bids to satisfy creditors. The decision marked a significant setback for The Onion's parent company, Global Tetrahedron, which had aimed to transform the conspiracy-driven platform into a hub for satirical content. 
A U.S. bankruptcy judge on Tuesday rejected The Onion's attempt to acquire Alex Jones's far-right media platform Infowars, citing flaws in the auction process and insufficient bids to satisfy creditors. The decision marked a significant setback for The Onion's parent company, Global Tetrahedron, which had aimed to transform the conspiracy-driven platform into a hub for satirical content. -
Boeing Cuts 396 Jobs in Washington as Part of 17,000 Layoff Plan Amid Ongoing Challenges
Boeing has announced the layoff of 396 employees in Washington state, part of a larger effort to cut its global workforce by 10%. The aerospace giant plans to reduce approximately 17,000 jobs worldwide as it navigates ongoing financial and regulatory challenges. 
Boeing has announced the layoff of 396 employees in Washington state, part of a larger effort to cut its global workforce by 10%. The aerospace giant plans to reduce approximately 17,000 jobs worldwide as it navigates ongoing financial and regulatory challenges. -
Stellantis and CATL to Build $4.3 Billion EV Battery Plant in Spain by 2026
Automaker Stellantis and Chinese battery manufacturer CATL announced plans on Tuesday to invest €4.1 billion ($4.3 billion) in a joint venture to construct a lithium iron phosphate (LFP) battery plant in Zaragoza, Spain. The facility, which is expected to begin operations by the end of 2026, marks a major step in Europe's electric vehicle (EV) transition. 
Automaker Stellantis and Chinese battery manufacturer CATL announced plans on Tuesday to invest €4.1 billion ($4.3 billion) in a joint venture to construct a lithium iron phosphate (LFP) battery plant in Zaragoza, Spain. The facility, which is expected to begin operations by the end of 2026, marks a major step in Europe's electric vehicle (EV) transition. -
Omnicom to Acquire Interpublic Group in $13 Billion Deal, Creating World’s Largest Ad Agency
Omnicom Group has announced its acquisition of Interpublic Group in a $13.3 billion all-stock deal, creating the world's largest advertising agency. The merger, unveiled Monday, comes as traditional advertising firms face mounting challenges from artificial intelligence (AI) and Big Tech dominance, which are reshaping the industry landscape. 
Omnicom Group has announced its acquisition of Interpublic Group in a $13.3 billion all-stock deal, creating the world's largest advertising agency. The merger, unveiled Monday, comes as traditional advertising firms face mounting challenges from artificial intelligence (AI) and Big Tech dominance, which are reshaping the industry landscape. -
Judge Rejects Boeing Plea Deal Over 737 Max Crashes, Demands Greater Accountability
A federal judge on Thursday rejected a plea agreement between Boeing and the U.S. Department of Justice (DOJ) concerning charges tied to two fatal crashes of the company's 737 Max aircraft. The crashes, which occurred in October 2018 and March 2019, claimed 346 lives and have left Boeing grappling with fallout over its safety practices and corporate accountability. 
A federal judge on Thursday rejected a plea agreement between Boeing and the U.S. Department of Justice (DOJ) concerning charges tied to two fatal crashes of the company's 737 Max aircraft. The crashes, which occurred in October 2018 and March 2019, claimed 346 lives and have left Boeing grappling with fallout over its safety practices and corporate accountability.
