Jonathan Wong
The Latest
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Elon Musk Reportedly in Talks to Take Over Intel
Intel Corp. (NASDAQ: INTC) saw its shares jump nearly 10% amid speculation that the company might be the target of a high-stakes acquisition, with names like Elon Musk, Qualcomm, and GlobalFoundries reportedly in the mix. The rumors, originating from reports by research firms like SemiAnalysis and SemiAccurate, suggest that discussions have been taking place behind closed doors, potentially signaling a seismic shift in the semiconductor industry. 
Intel Corp. (NASDAQ: INTC) saw its shares jump nearly 10% amid speculation that the company might be the target of a high-stakes acquisition, with names like Elon Musk, Qualcomm, and GlobalFoundries reportedly in the mix. The rumors, originating from reports by research firms like SemiAnalysis and SemiAccurate, suggest that discussions have been taking place behind closed doors, potentially signaling a seismic shift in the semiconductor industry. -
U.S. Leaders Backtrack on TikTok Ban Amid Supreme Court Ruling and Public Pressure, Trump Vows to Intervene
The future of TikTok in the United States hangs in the balance as a contentious ban on the popular video-sharing app is set to take effect Sunday. Passed with overwhelming bipartisan support last year and signed into law by President Joe Biden, the legislation requires TikTok's Chinese parent company, ByteDance, to divest from the app or face a nationwide ban. However, as the deadline nears, both political parties appear reluctant to champion the law they once overwhelmingly supported. 
The future of TikTok in the United States hangs in the balance as a contentious ban on the popular video-sharing app is set to take effect Sunday. Passed with overwhelming bipartisan support last year and signed into law by President Joe Biden, the legislation requires TikTok's Chinese parent company, ByteDance, to divest from the app or face a nationwide ban. However, as the deadline nears, both political parties appear reluctant to champion the law they once overwhelmingly supported. -
Capital One Outage Leaves Customers Frustrated as Resolution Drags On
Capital One's prolonged technical outage, now entering its second day, has left customers scrambling to access deposits, make payments, and transfer funds. The issues began on Thursday when the bank attributed the disruption to a third-party vendor, Fidelity Information Services (FIS). The Jacksonville, Florida-based vendor later clarified that a local power outage had impacted a critical data center, disrupting several applications. 
Capital One's prolonged technical outage, now entering its second day, has left customers scrambling to access deposits, make payments, and transfer funds. The issues began on Thursday when the bank attributed the disruption to a third-party vendor, Fidelity Information Services (FIS). The Jacksonville, Florida-based vendor later clarified that a local power outage had impacted a critical data center, disrupting several applications. -
Toyota's Hino Motors Agrees to $1.6 Billion Settlement Over Emissions Fraud
Hino Motors, a subsidiary of Toyota, has agreed to a $1.6 billion settlement with U.S. authorities following revelations of a years-long scheme to falsify emissions data for its diesel engines. The agreement, which includes criminal and civil penalties, marks one of the most significant crackdowns on emissions fraud since the Volkswagen Dieselgate scandal. 
Hino Motors, a subsidiary of Toyota, has agreed to a $1.6 billion settlement with U.S. authorities following revelations of a years-long scheme to falsify emissions data for its diesel engines. The agreement, which includes criminal and civil penalties, marks one of the most significant crackdowns on emissions fraud since the Volkswagen Dieselgate scandal. -
Symbotic Acquires Walmart’s Robotics Business in $200 Million Deal to Transform Supply Chains
Symbotic Inc., a leader in automation and artificial intelligence-enabled robotics, announced a significant deal to acquire Walmart's Advanced Systems and Robotics business for $200 million. The agreement, which includes potential contingent payments of up to $350 million based on performance, represents a major step in the companies' ongoing collaboration to revolutionize retail supply chain automation. 
Symbotic Inc., a leader in automation and artificial intelligence-enabled robotics, announced a significant deal to acquire Walmart's Advanced Systems and Robotics business for $200 million. The agreement, which includes potential contingent payments of up to $350 million based on performance, represents a major step in the companies' ongoing collaboration to revolutionize retail supply chain automation. -
Anduril to Build $1 Billion Defense Manufacturing Facility in Ohio
Anduril Industries, a defense technology company headquartered in Costa Mesa, California, has announced plans to build a state-of-the-art manufacturing facility in central Ohio, marking a significant investment in the U.S. defense sector. The project, called "Arsenal-1," represents a $1 billion commitment and is expected to create 4,000 jobs in the region. 
Anduril Industries, a defense technology company headquartered in Costa Mesa, California, has announced plans to build a state-of-the-art manufacturing facility in central Ohio, marking a significant investment in the U.S. defense sector. The project, called "Arsenal-1," represents a $1 billion commitment and is expected to create 4,000 jobs in the region. -
DOT Sues Southwest Airlines Over Chronically Delayed Flights
The U.S. Department of Transportation (DOT) has filed a lawsuit against Southwest Airlines, alleging that the Dallas-based carrier operated two "chronically delayed flights" over a five-month span in 2022, resulting in 180 disruptions. The lawsuit, filed in the U.S. District Court for the Northern District of California, seeks "maximum civil penalties" for what the department says is a breach of passenger protection laws. 
The U.S. Department of Transportation (DOT) has filed a lawsuit against Southwest Airlines, alleging that the Dallas-based carrier operated two "chronically delayed flights" over a five-month span in 2022, resulting in 180 disruptions. The lawsuit, filed in the U.S. District Court for the Northern District of California, seeks "maximum civil penalties" for what the department says is a breach of passenger protection laws. -
CFPB Sues Capital One, Alleging $2 Billion in Lost Savings for Customers
The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Capital One, accusing the bank of misleading customers and denying them more than $2 billion in interest. The federal agency alleges that Capital One failed to inform holders of its 360 Savings account about a higher-yield product, effectively keeping customers locked into accounts with significantly lower interest rates. The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against Capital One, accusing the bank of misleading customers and denying them more than $2 billion in interest. The federal agency alleges that Capital One failed to inform holders of its 360 Savings account about a higher-yield product, effectively keeping customers locked into accounts with significantly lower interest rates. -
BlackRock’s Assets Hit Record $11.6 Trillion as Client Cash Inflows Surge
BlackRock Inc., the world's largest asset manager, reached a record $11.6 trillion in assets under management in the fourth quarter of 2024, fueled by a surge in client cash inflows and expanding investments in private markets. The firm reported a 21% increase in quarterly profits, highlighting its ability to navigate volatile markets and attract substantial investor capital. 
BlackRock Inc., the world's largest asset manager, reached a record $11.6 trillion in assets under management in the fourth quarter of 2024, fueled by a surge in client cash inflows and expanding investments in private markets. The firm reported a 21% increase in quarterly profits, highlighting its ability to navigate volatile markets and attract substantial investor capital. -
SEC Sues Elon Musk Over Alleged Failure to Disclose Twitter Stake, Accuses Billionaire of Securities Fraud
The Securities and Exchange Commission (SEC) filed a lawsuit Tuesday against Elon Musk, alleging the billionaire violated securities law by failing to disclose his significant stake in Twitter in a timely manner. The lawsuit, filed in U.S. District Court in Washington, D.C., claims Musk's delay in disclosure allowed him to purchase Twitter shares at "artificially low prices," depriving shareholders of over $150 million. 
The Securities and Exchange Commission (SEC) filed a lawsuit Tuesday against Elon Musk, alleging the billionaire violated securities law by failing to disclose his significant stake in Twitter in a timely manner. The lawsuit, filed in U.S. District Court in Washington, D.C., claims Musk's delay in disclosure allowed him to purchase Twitter shares at "artificially low prices," depriving shareholders of over $150 million.
