Jonathan Wong
The Latest
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Amazon to Pay $2.5 Billion in Record FTC Prime Settlement, Refunds 35 Million Customers
Amazon will pay $2.5 billion to settle Federal Trade Commission allegations that it misled millions of consumers into signing up for Prime memberships and obstructed their ability to cancel, ending a two-year legal battle and one of the agency's most closely watched subscription cases. 
Amazon will pay $2.5 billion to settle Federal Trade Commission allegations that it misled millions of consumers into signing up for Prime memberships and obstructed their ability to cancel, ending a two-year legal battle and one of the agency's most closely watched subscription cases. -
Starbucks to Shut 400+ Stores, Cut 900 Jobs in $1 Billion Restructuring Plan
Starbucks Corp. is closing hundreds of underperforming cafés and cutting another 900 corporate jobs as part of a $1 billion restructuring plan aimed at reversing a prolonged sales slump in its largest market. The sweeping overhaul marks the second round of layoffs under CEO Brian Niccol, who has sought to revive the coffee giant's growth since taking the helm last year. 
Starbucks Corp. is closing hundreds of underperforming cafés and cutting another 900 corporate jobs as part of a $1 billion restructuring plan aimed at reversing a prolonged sales slump in its largest market. The sweeping overhaul marks the second round of layoffs under CEO Brian Niccol, who has sought to revive the coffee giant's growth since taking the helm last year. -
Alibaba Shares Surge Nearly 10% After Nvidia Partnership, $53B AI Investment Boost
Alibaba Group Holding Ltd. shares surged nearly 10% in Hong Kong and U.S. premarket trading Wednesday after the Chinese technology giant announced a major expansion of its artificial intelligence ambitions, unveiling a partnership with Nvidia, new global data centers, and its most advanced language model to date. 
Alibaba Group Holding Ltd. shares surged nearly 10% in Hong Kong and U.S. premarket trading Wednesday after the Chinese technology giant announced a major expansion of its artificial intelligence ambitions, unveiling a partnership with Nvidia, new global data centers, and its most advanced language model to date. -
Pfizer Bets Big on Obesity Market With $7.3 Billion Metsera Acquisition
Pfizer is making its most aggressive move yet to capture a share of the booming obesity drug market, announcing Monday it will acquire biotech firm Metsera in a deal valued at up to $7.3 billion, including future milestone payments. The purchase gives Pfizer access to a pipeline of next-generation weight-loss therapies as competition in the space intensifies. 
Pfizer is making its most aggressive move yet to capture a share of the booming obesity drug market, announcing Monday it will acquire biotech firm Metsera in a deal valued at up to $7.3 billion, including future milestone payments. The purchase gives Pfizer access to a pipeline of next-generation weight-loss therapies as competition in the space intensifies. -
Tim Cook Denies iPhone Price Hikes Are Tariff-Driven, Calls iPhone 17 Launch Apple’s ‘Super Bowl’
Apple CEO Tim Cook pushed back against speculation that the company's latest iPhone price increases are tied to President Donald Trump's tariffs, saying on Friday that "there's no increase for tariffs in the prices to be totally clear." Cook made the remarks during a CNBC interview at Apple's flagship Fifth Avenue store in New York, where he was met by massive crowds celebrating the iPhone 17 launch. 
Apple CEO Tim Cook pushed back against speculation that the company's latest iPhone price increases are tied to President Donald Trump's tariffs, saying on Friday that "there's no increase for tariffs in the prices to be totally clear." Cook made the remarks during a CNBC interview at Apple's flagship Fifth Avenue store in New York, where he was met by massive crowds celebrating the iPhone 17 launch. -
Paramount Skydance Eyes $22–$24 per Share Bid for Warner Bros. Discovery
Paramount Skydance is preparing a bid for Warner Bros. Discovery that could value the media company at $22 to $24 a share, CNBC's David Faber reported Friday, citing people familiar with the matter. The potential offer, which may take longer to materialize than initially expected, would be largely cash-backed and could reshape the media landscape. 
Paramount Skydance is preparing a bid for Warner Bros. Discovery that could value the media company at $22 to $24 a share, CNBC's David Faber reported Friday, citing people familiar with the matter. The potential offer, which may take longer to materialize than initially expected, would be largely cash-backed and could reshape the media landscape. -
Intel Soars 30% as Nvidia Buys $5 Billion Stake, Unveils Partnership to Co-Develop Data Center and PC Chips
Intel shares surged more than 30% Thursday after Nvidia said it will invest $5 billion in the struggling U.S. chipmaker and jointly develop data center and PC processors, a move that could reshape the competitive landscape of the semiconductor industry. Nvidia's stake will be purchased at $23.28 a share, making it one of Intel's largest shareholders, likely with more than 4% ownership once new shares are issued. 
Intel shares surged more than 30% Thursday after Nvidia said it will invest $5 billion in the struggling U.S. chipmaker and jointly develop data center and PC processors, a move that could reshape the competitive landscape of the semiconductor industry. Nvidia's stake will be purchased at $23.28 a share, making it one of Intel's largest shareholders, likely with more than 4% ownership once new shares are issued. -
TikTok Deal to Bring New Investors, Keep Oracle Cloud Partnership
A long-awaited deal to secure TikTok's future in the United States is taking shape, with new investors poised to join existing shareholders of parent company ByteDance and Oracle set to maintain its role as TikTok's U.S. cloud provider, according to people familiar with the negotiations. 
A long-awaited deal to secure TikTok's future in the United States is taking shape, with new investors poised to join existing shareholders of parent company ByteDance and Oracle set to maintain its role as TikTok's U.S. cloud provider, according to people familiar with the negotiations. -
U.S. Opens Probe Into 174,000 Tesla Model Y Vehicles Over Door Handle Failures
Federal regulators have opened an investigation into roughly 174,000 Tesla Model Y vehicles from the 2021 model year after reports that their electronic door handles may become inoperative, potentially leaving occupants unable to enter or exit the vehicle in certain scenarios. 
Federal regulators have opened an investigation into roughly 174,000 Tesla Model Y vehicles from the 2021 model year after reports that their electronic door handles may become inoperative, potentially leaving occupants unable to enter or exit the vehicle in certain scenarios. -
CATL Soars to Record High as China Unveils $35 Billion Energy Storage Plan
Contemporary Amperex Technology Co. Ltd. (CATL) shares surged to record highs Monday after Beijing unveiled an ambitious plan to boost energy storage capacity and support auto-sector demand, driving a rally across China's battery and electric vehicle stocks. 
Contemporary Amperex Technology Co. Ltd. (CATL) shares surged to record highs Monday after Beijing unveiled an ambitious plan to boost energy storage capacity and support auto-sector demand, driving a rally across China's battery and electric vehicle stocks.
