Jonathan Wong
The Latest
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American Airlines Chooses Citi as Exclusive Credit Card Partner, Ending Barclays Deal
American Airlines has solidified a new 10-year agreement with Citigroup, designating the bank as its sole credit card partner and ending its decade-long partnership with Barclays. The deal, announced Thursday, will see Citi become the exclusive issuer of the AAdvantage co-branded credit card in the U.S. starting in 2026. 
American Airlines has solidified a new 10-year agreement with Citigroup, designating the bank as its sole credit card partner and ending its decade-long partnership with Barclays. The deal, announced Thursday, will see Citi become the exclusive issuer of the AAdvantage co-branded credit card in the U.S. starting in 2026. -
TSMC, Nvidia in Talks to Manufacture Blackwell AI Chips in Arizona, But Key Processes Still Tied to Taiwan
Taiwan Semiconductor Manufacturing Co. (TSMC) is in discussions with Nvidia Corp. to produce its Blackwell artificial intelligence (AI) chips at TSMC's new Arizona plant, according to three sources familiar with the talks. The agreement, if finalized, would see Nvidia joining Apple and Advanced Micro Devices (AMD) as key customers of the facility, which is scheduled to begin volume production in 2025. 
Taiwan Semiconductor Manufacturing Co. (TSMC) is in discussions with Nvidia Corp. to produce its Blackwell artificial intelligence (AI) chips at TSMC's new Arizona plant, according to three sources familiar with the talks. The agreement, if finalized, would see Nvidia joining Apple and Advanced Micro Devices (AMD) as key customers of the facility, which is scheduled to begin volume production in 2025. -
Zepbound Delivers 47% Greater Weight Loss Than Wegovy, Eli Lilly Claims
Eli Lilly's Zepbound has outperformed Novo Nordisk's Wegovy in a pivotal clinical trial, marking a significant milestone in the competitive obesity treatment market. The study revealed that adults taking Zepbound experienced an average weight loss of 20% of their body weight, compared to 14% among Wegovy users, a difference of 47%. The findings have set a new benchmark for the effectiveness of weight-loss medications. 
Eli Lilly's Zepbound has outperformed Novo Nordisk's Wegovy in a pivotal clinical trial, marking a significant milestone in the competitive obesity treatment market. The study revealed that adults taking Zepbound experienced an average weight loss of 20% of their body weight, compared to 14% among Wegovy users, a difference of 47%. The findings have set a new benchmark for the effectiveness of weight-loss medications. -
GM Announces Over $5 Billion in Write-Downs as China Operations Crumble
General Motors Co. announced Wednesday that it will record over $5 billion in non-cash charges as part of a sweeping restructuring of its operations in China, a market that has transformed from a profit engine into a growing liability for the automaker. The charges, detailed in a federal filing, reflect plant closures, portfolio adjustments, and the reduced value of its joint venture with SAIC Motor Corp. 
General Motors Co. announced Wednesday that it will record over $5 billion in non-cash charges as part of a sweeping restructuring of its operations in China, a market that has transformed from a profit engine into a growing liability for the automaker. The charges, detailed in a federal filing, reflect plant closures, portfolio adjustments, and the reduced value of its joint venture with SAIC Motor Corp. -
Cargill Slashes 8,000 Jobs Amid Deepening Profit Decline and Commodity Price Collapse
Cargill, the world's largest agricultural commodities trader and the largest privately held company in the United States, announced a sweeping reduction of its global workforce, with plans to lay off approximately 8,000 employees. The decision will affect 5% of the company's 164,000-strong workforce and is part of a broader restructuring strategy aimed at addressing declining profits and adjusting to a changing agricultural market. 
Cargill, the world's largest agricultural commodities trader and the largest privately held company in the United States, announced a sweeping reduction of its global workforce, with plans to lay off approximately 8,000 employees. The decision will affect 5% of the company's 164,000-strong workforce and is part of a broader restructuring strategy aimed at addressing declining profits and adjusting to a changing agricultural market. -
Elon Musk's $56 Billion Tesla Pay Package Blocked Again, Sparks Legal Battle and Stock Slide
Tesla's stock dipped as much as 2% on Tuesday after a Delaware judge reaffirmed a decision blocking Elon Musk's $56 billion performance-based pay package. The ruling by the Delaware Court of Chancery marked the second rejection of the controversial compensation plan, intensifying a legal battle over corporate governance at the electric vehicle giant. 
Tesla's stock dipped as much as 2% on Tuesday after a Delaware judge reaffirmed a decision blocking Elon Musk's $56 billion performance-based pay package. The ruling by the Delaware Court of Chancery marked the second rejection of the controversial compensation plan, intensifying a legal battle over corporate governance at the electric vehicle giant. -
De Beers Slashes Diamond Prices by Up to 15% Amid Market Slump
De Beers, the world's largest diamond producer, has taken the unprecedented step of slashing prices by 10% to 15% at its final sale of the year, signaling a significant shift in strategy as the diamond market grapples with one of its deepest slumps in decades. 
De Beers, the world's largest diamond producer, has taken the unprecedented step of slashing prices by 10% to 15% at its final sale of the year, signaling a significant shift in strategy as the diamond market grapples with one of its deepest slumps in decades. -
GM Recalls Over 132,000 Chevrolet and GMC Trucks Over Tailgate Malfunction Risk
General Motors (GM) has issued a recall for over 132,000 Chevrolet and GMC trucks from its 2024 lineup due to a potential safety hazard involving power-unlatching tailgates. The issue, which could cause tailgates to open unexpectedly while the vehicle is stationary, raises concerns about the risk of cargo loss and potential accidents, according to the National Highway Traffic Safety Administration (NHTSA). 
General Motors (GM) has issued a recall for over 132,000 Chevrolet and GMC trucks from its 2024 lineup due to a potential safety hazard involving power-unlatching tailgates. The issue, which could cause tailgates to open unexpectedly while the vehicle is stationary, raises concerns about the risk of cargo loss and potential accidents, according to the National Highway Traffic Safety Administration (NHTSA). -
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.
