Jonathan Wong
The Latest
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Uber Slammed with Record $324 Million Fine in Netherlands for Violating EU Data Protection Laws
Dutch privacy regulators have imposed a record €290 million ($324 million) fine on Uber for violating the European Union's stringent data protection laws. The penalty, announced on Monday, marks the most substantial fine ever issued by the Dutch Data Protection Authority (DPA) and highlights growing concerns over the handling of personal data by global tech companies. 
Dutch privacy regulators have imposed a record €290 million ($324 million) fine on Uber for violating the European Union's stringent data protection laws. The penalty, announced on Monday, marks the most substantial fine ever issued by the Dutch Data Protection Authority (DPA) and highlights growing concerns over the handling of personal data by global tech companies. -
Biden Administration’s Fight Against Grocery Giants Kroger and Albertsons Heads to Court
The Biden-Harris administration's most significant antitrust battle to date is unfolding as the Federal Trade Commission (FTC) takes on the $25 billion merger of two of the nation's largest grocery chains, Kroger and Albertsons. The trial, which began on Monday in Portland, Oregon, represents a critical moment in the administration's broader efforts to curb rising grocery prices and protect unionized workers' rights. 
The Biden-Harris administration's most significant antitrust battle to date is unfolding as the Federal Trade Commission (FTC) takes on the $25 billion merger of two of the nation's largest grocery chains, Kroger and Albertsons. The trial, which began on Monday in Portland, Oregon, represents a critical moment in the administration's broader efforts to curb rising grocery prices and protect unionized workers' rights. -
Delta COO Mike Spanos Exits Amid Post-Cyber Outage Turmoil
Delta Air Lines is facing a significant leadership change as its Chief Operating Officer, Mike Spanos, is set to leave the company at the end of the month, according to a securities filing made by the airline on Friday. The departure comes just over a year after Spanos joined the Atlanta-based carrier, marking another shake-up for the airline following recent operational disruptions. 
Delta Air Lines is facing a significant leadership change as its Chief Operating Officer, Mike Spanos, is set to leave the company at the end of the month, according to a securities filing made by the airline on Friday. The departure comes just over a year after Spanos joined the Atlanta-based carrier, marking another shake-up for the airline following recent operational disruptions. -
Global Uranium Market Faces Crisis as Top Producer Kazatomprom Slashes 2025 Output by 17%
Shares of Canadian uranium producers surged on Friday after the world's largest nuclear fuel supplier, Kazatomprom, announced a significant reduction in its 2025 production target. The Kazakhstan state-owned company, which accounts for roughly 20% of global uranium output, attributed the cut to ongoing supply chain issues and construction delays at its newly developed deposits. This announcement has heightened concerns about a potential uranium supply shortfall, adding fuel to an already bullish market for the heavy metal. 
Shares of Canadian uranium producers surged on Friday after the world's largest nuclear fuel supplier, Kazatomprom, announced a significant reduction in its 2025 production target. The Kazakhstan state-owned company, which accounts for roughly 20% of global uranium output, attributed the cut to ongoing supply chain issues and construction delays at its newly developed deposits. This announcement has heightened concerns about a potential uranium supply shortfall, adding fuel to an already bullish market for the heavy metal. -
Nestlé Faces Leadership Shakeup as CEO Schneider Ousted Amid Market Struggles
Nestlé, the world's largest food company, has undergone a sudden leadership change, with CEO Mark Schneider being ousted in a move that has left investors and analysts questioning the company's future direction. Schneider, who had led the company for nearly eight years, was replaced by Laurent Freixe, a Nestlé veteran with nearly four decades of experience within the company. 
Nestlé, the world's largest food company, has undergone a sudden leadership change, with CEO Mark Schneider being ousted in a move that has left investors and analysts questioning the company's future direction. Schneider, who had led the company for nearly eight years, was replaced by Laurent Freixe, a Nestlé veteran with nearly four decades of experience within the company. -
Walmart’s $3.74 Billion Exit Leaves JD.com at a Crossroads Amid China’s E-Commerce Slowdown
Walmart has announced its decision to sell its $3.74 billion stake in JD.com, the Beijing-based e-commerce platform. The move has raised questions about JD.com's ability to sustain its position in an increasingly competitive and stagnating market, particularly as it faces aggressive price wars and slowing growth in China's e-commerce sector. 
Walmart has announced its decision to sell its $3.74 billion stake in JD.com, the Beijing-based e-commerce platform. The move has raised questions about JD.com's ability to sustain its position in an increasingly competitive and stagnating market, particularly as it faces aggressive price wars and slowing growth in China's e-commerce sector. -
Canadian Rail Lockout Stalls $277 Billion in U.S. Trade, Threatens Economic Turmoil
The U.S.-Canada trade corridor, a vital artery for the North American economy, has been paralyzed following a labor dispute that led to the lockout of over 9,000 freight rail workers by Canada's two major rail companies, Canadian National Railway (CN) and Canadian Pacific Kansas City (CPKC). The shutdown, which affects billions of dollars in trade, could have increasingly severe economic repercussions if not resolved swiftly. 
The U.S.-Canada trade corridor, a vital artery for the North American economy, has been paralyzed following a labor dispute that led to the lockout of over 9,000 freight rail workers by Canada's two major rail companies, Canadian National Railway (CN) and Canadian Pacific Kansas City (CPKC). The shutdown, which affects billions of dollars in trade, could have increasingly severe economic repercussions if not resolved swiftly. -
BMW Surpasses Tesla in European EV Sales as Traditional Automakers Gain Ground
BMW has overtaken Tesla in monthly sales for the first time, marking a crucial milestone for traditional automakers as they challenge the dominance of Tesla in the rapidly evolving sector. According to data released by market research firm JATO Dynamics, BMW sold 14,869 battery electric vehicles (BEVs) in July 2024, surpassing Tesla's 14,561 units, despite an overall decline in EV sales across the continent. 
BMW has overtaken Tesla in monthly sales for the first time, marking a crucial milestone for traditional automakers as they challenge the dominance of Tesla in the rapidly evolving sector. According to data released by market research firm JATO Dynamics, BMW sold 14,869 battery electric vehicles (BEVs) in July 2024, surpassing Tesla's 14,561 units, despite an overall decline in EV sales across the continent. -
Walmart+ Teams Up with Burger King, Offering Free Whoppers and Discounts to Attract Subscribers
In an ongoing battle to rival Amazon Prime, Walmart has unveiled a new perk for its Walmart+ members, teaming up with fast-food giant Burger King. The partnership, announced on Thursday, is a strategic move aimed at enticing more subscribers by offering a 25% discount on Burger King orders and free Whoppers every three months. 
In an ongoing battle to rival Amazon Prime, Walmart has unveiled a new perk for its Walmart+ members, teaming up with fast-food giant Burger King. The partnership, announced on Thursday, is a strategic move aimed at enticing more subscribers by offering a 25% discount on Burger King orders and free Whoppers every three months. -
Deutsche Bank Resolves Majority of Postbank Lawsuits, Boosting Profit Outlook
Deutsche Bank has reached settlements with nearly 60% of the plaintiffs involved in a prolonged legal dispute over the bank's acquisition of Postbank, a German retail banking giant, more than a decade ago. The settlements, announced late Wednesday, mark a crucial step in Deutsche Bank's efforts to put to rest a contentious chapter in its history, one that has cast a long shadow over the institution. 
Deutsche Bank has reached settlements with nearly 60% of the plaintiffs involved in a prolonged legal dispute over the bank's acquisition of Postbank, a German retail banking giant, more than a decade ago. The settlements, announced late Wednesday, mark a crucial step in Deutsche Bank's efforts to put to rest a contentious chapter in its history, one that has cast a long shadow over the institution.
