Jonathan Wong
The Latest
-
Spirit Airlines Faces Bankruptcy After Failed Frontier Merger Talks, Stock Plunges
Spirit Airlines is reportedly preparing to file for Chapter 11 bankruptcy protection following the collapse of its merger talks with Frontier Airlines, marking its second failed deal attempt in less than two years. The ultra-low-cost carrier, known for its budget-friendly flights, has faced mounting financial challenges, including significant debt maturities and operational losses. The anticipated bankruptcy filing, expected within weeks, comes as Spirit's stock plummeted more than 55% on Wednesday, marking one of the steepest declines in its history. 
Spirit Airlines is reportedly preparing to file for Chapter 11 bankruptcy protection following the collapse of its merger talks with Frontier Airlines, marking its second failed deal attempt in less than two years. The ultra-low-cost carrier, known for its budget-friendly flights, has faced mounting financial challenges, including significant debt maturities and operational losses. The anticipated bankruptcy filing, expected within weeks, comes as Spirit's stock plummeted more than 55% on Wednesday, marking one of the steepest declines in its history. -
Boeing’s October Deliveries Plunge Amid Strike Fallout, Major Layoffs Expected
Boeing is grappling with the aftermath of a 53-day machinist strike that disrupted production across its key aircraft programs, with over 32,000 union workers now set to return to factories by November 12. While the machinists have approved a new contract that includes a 38% pay raise over four years, the company warns that getting production back to full speed will take weeks. 
Boeing is grappling with the aftermath of a 53-day machinist strike that disrupted production across its key aircraft programs, with over 32,000 union workers now set to return to factories by November 12. While the machinists have approved a new contract that includes a 38% pay raise over four years, the company warns that getting production back to full speed will take weeks. -
Home Depot Tops Q3 Expectations as Consumer Spending Rebounds Slightly
Home Depot delivered better-than-expected third-quarter results on Tuesday, hinting at a potential stabilization in consumer spending after a prolonged downturn in the home improvement sector. Revenue for the Atlanta-based retailer climbed 6.6% year-over-year to $40.22 billion, beating Wall Street forecasts of $39.31 billion, according to FactSet. The positive performance prompted the company to raise its full-year revenue outlook, citing strong demand for seasonal goods and hurricane-related repairs. 
Home Depot delivered better-than-expected third-quarter results on Tuesday, hinting at a potential stabilization in consumer spending after a prolonged downturn in the home improvement sector. Revenue for the Atlanta-based retailer climbed 6.6% year-over-year to $40.22 billion, beating Wall Street forecasts of $39.31 billion, according to FactSet. The positive performance prompted the company to raise its full-year revenue outlook, citing strong demand for seasonal goods and hurricane-related repairs. -
Shell Wins Appeal, Escapes Landmark Dutch Ruling to Slash Carbon Emissions by 2030
In a decision closely watched by global energy and environmental sectors, a Dutch appeals court on Tuesday overturned a 2021 ruling that mandated oil giant Shell to cut its carbon emissions by 45% by 2030, compared to 2019 levels. The court's decision, announced as global leaders convened for the COP29 climate summit in Azerbaijan, effectively nullifies the precedent-setting judgment, underscoring the challenges of enforcing corporate accountability in combating climate change. 
In a decision closely watched by global energy and environmental sectors, a Dutch appeals court on Tuesday overturned a 2021 ruling that mandated oil giant Shell to cut its carbon emissions by 45% by 2030, compared to 2019 levels. The court's decision, announced as global leaders convened for the COP29 climate summit in Azerbaijan, effectively nullifies the precedent-setting judgment, underscoring the challenges of enforcing corporate accountability in combating climate change. -
NHTSA Investigates Engine Failures in 1.4 Million Honda and Acura Vehicles
The National Highway Traffic Safety Administration (NHTSA) has launched an investigation into potential engine failures affecting up to 1.4 million Honda and Acura vehicles, following 173 complaints from owners regarding mechanical issues. 
The National Highway Traffic Safety Administration (NHTSA) has launched an investigation into potential engine failures affecting up to 1.4 million Honda and Acura vehicles, following 173 complaints from owners regarding mechanical issues. -
FTX Sues Binance and Former CEO Zhao for $1.8 Billion, Alleging Fraud and Market Manipulation
The embattled estate of collapsed cryptocurrency exchange FTX has launched a $1.8 billion lawsuit against Binance and its former CEO, Changpeng Zhao (CZ), in a legal move that underscores the escalating tensions in the crypto sector following FTX's catastrophic downfall. Filed in Delaware, the complaint alleges that Binance and Zhao were involved in a "fraudulent" 2021 share deal that destabilized FTX, ultimately leading to its collapse. 
The embattled estate of collapsed cryptocurrency exchange FTX has launched a $1.8 billion lawsuit against Binance and its former CEO, Changpeng Zhao (CZ), in a legal move that underscores the escalating tensions in the crypto sector following FTX's catastrophic downfall. Filed in Delaware, the complaint alleges that Binance and Zhao were involved in a "fraudulent" 2021 share deal that destabilized FTX, ultimately leading to its collapse. -
Elon Musk’s Net Worth Surges to $300B as Tesla Hits $1 Trillion Market Cap
Tesla's stock reached a milestone Friday, with the electric vehicle manufacturer's market value soaring past $1 trillion, spurred by a 10% surge in share price. Investors appear optimistic that a second Trump administration, with Elon Musk as a close ally, will create a favorable regulatory landscape for Tesla and its ambitious autonomous driving goals. The rally comes on the heels of Donald Trump's recent election victory, which, according to market analysts, may bring regulatory relief for Tesla and other tech giants. 
Tesla's stock reached a milestone Friday, with the electric vehicle manufacturer's market value soaring past $1 trillion, spurred by a 10% surge in share price. Investors appear optimistic that a second Trump administration, with Elon Musk as a close ally, will create a favorable regulatory landscape for Tesla and its ambitious autonomous driving goals. The rally comes on the heels of Donald Trump's recent election victory, which, according to market analysts, may bring regulatory relief for Tesla and other tech giants. -
Qantas Flight Makes Emergency Landing After Engine Failure, Sydney Airport Faces Runway Fire
A Qantas Airways flight bound for Brisbane made an emergency landing at Sydney Airport on Friday following an engine failure shortly after takeoff, the Australian airline confirmed. Flight QF520, a Boeing 737-800, took off from Sydney at 12:35 p.m. local time but quickly encountered a mechanical issue that forced it to circle before landing safely back at the airport. The incident coincided with a grass fire near a parallel runway, adding to the unfolding drama. 
A Qantas Airways flight bound for Brisbane made an emergency landing at Sydney Airport on Friday following an engine failure shortly after takeoff, the Australian airline confirmed. Flight QF520, a Boeing 737-800, took off from Sydney at 12:35 p.m. local time but quickly encountered a mechanical issue that forced it to circle before landing safely back at the airport. The incident coincided with a grass fire near a parallel runway, adding to the unfolding drama. -
Trump Media Shares Plummet After Election Surge
Donald Trump's recent election victory has had a significant impact on the stock market, with shares of Trump Media & Technology Group (DJT), the parent company of his social media platform Truth Social, experiencing extreme volatility. 
Donald Trump's recent election victory has had a significant impact on the stock market, with shares of Trump Media & Technology Group (DJT), the parent company of his social media platform Truth Social, experiencing extreme volatility. -
Climate Tech Stocks Tumble as Trump’s Win Sparks Fears of Regulatory Rollbacks
In the aftermath of Donald Trump's election victory, shares of climate technology and renewable energy companies took a significant hit as markets braced for potential policy reversals and regulatory rollbacks under his incoming administration. Trump's campaign promises to dismantle existing clean energy projects and shift focus back to fossil fuels sent shockwaves through the industry, leading to a sell-off in key sectors. 
In the aftermath of Donald Trump's election victory, shares of climate technology and renewable energy companies took a significant hit as markets braced for potential policy reversals and regulatory rollbacks under his incoming administration. Trump's campaign promises to dismantle existing clean energy projects and shift focus back to fossil fuels sent shockwaves through the industry, leading to a sell-off in key sectors.
