Jonathan Wong
The Latest
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GM Commits $625 Million to Joint Lithium Venture, Bolsters U.S. EV Supply Chain
General Motors Co. (GM) announced Wednesday a strategic investment of $625 million into a joint venture with Lithium Americas Corp., a Canadian mining company, to develop a lithium mining operation at Thacker Pass, Nevada. 
General Motors Co. (GM) announced Wednesday a strategic investment of $625 million into a joint venture with Lithium Americas Corp., a Canadian mining company, to develop a lithium mining operation at Thacker Pass, Nevada. -
Airbus to Cut 2,500 Jobs in Defence and Space Amid Financial Struggles
Airbus, the European aerospace giant, has announced plans to cut up to 2,500 jobs in its Defence and Space division as it grapples with a challenging business environment. The company attributed the job cuts, which will impact 7% of the division's workforce, to difficulties in its satellite segment and broader defense operations. 
Airbus, the European aerospace giant, has announced plans to cut up to 2,500 jobs in its Defence and Space division as it grapples with a challenging business environment. The company attributed the job cuts, which will impact 7% of the division's workforce, to difficulties in its satellite segment and broader defense operations. -
ASML Faces Sharp Revenue Decline as U.S. Export Curbs Hit China Sales
ASML, the Dutch chip equipment maker, has revealed that U.S. export restrictions are significantly impacting its sales in China, leading to a downward revision of its 2025 financial outlook. In its earnings report released Tuesday, ASML projected net sales for 2025 to fall between 30 billion and 35 billion euros ($32.7 billion to $38.1 billion), aligning with the lower end of its previous guidance. This adjustment comes amid geopolitical tensions and rising pressure on the global chip supply chain, prompting investor concerns and a substantial market response. 
ASML, the Dutch chip equipment maker, has revealed that U.S. export restrictions are significantly impacting its sales in China, leading to a downward revision of its 2025 financial outlook. In its earnings report released Tuesday, ASML projected net sales for 2025 to fall between 30 billion and 35 billion euros ($32.7 billion to $38.1 billion), aligning with the lower end of its previous guidance. This adjustment comes amid geopolitical tensions and rising pressure on the global chip supply chain, prompting investor concerns and a substantial market response. -
Morgan Stanley Beats Estimates as Investment Banking and Wealth Management Surge
Morgan Stanley's third-quarter earnings exceeded expectations as its core business divisions-wealth management, investment banking, and trading-outperformed analysts' estimates. The firm reported a profit increase of 32% to $3.2 billion, or $1.88 per share, with revenues rising 16% to $15.38 billion. These results highlight a broad resurgence across Wall Street, where major banks are witnessing a revival in investment banking and trading. 
Morgan Stanley's third-quarter earnings exceeded expectations as its core business divisions-wealth management, investment banking, and trading-outperformed analysts' estimates. The firm reported a profit increase of 32% to $3.2 billion, or $1.88 per share, with revenues rising 16% to $15.38 billion. These results highlight a broad resurgence across Wall Street, where major banks are witnessing a revival in investment banking and trading. -
Amazon Invests $500 Million in Nuclear SMRs to Power AI and Cloud Growth
Amazon has announced a bold new venture into nuclear energy, committing over $500 million to develop small modular reactors (SMRs) across the United States. The tech giant's cloud computing division, Amazon Web Services (AWS), revealed plans for three major projects aimed at meeting its escalating energy demands as it expands its services, particularly in artificial intelligence (AI). The initiative is also a critical component of Amazon's broader goal to achieve net-zero carbon emissions by 2040. 
Amazon has announced a bold new venture into nuclear energy, committing over $500 million to develop small modular reactors (SMRs) across the United States. The tech giant's cloud computing division, Amazon Web Services (AWS), revealed plans for three major projects aimed at meeting its escalating energy demands as it expands its services, particularly in artificial intelligence (AI). The initiative is also a critical component of Amazon's broader goal to achieve net-zero carbon emissions by 2040. -
LVMH Sales Decline 3% as Chinese Demand for Luxury Goods Softens Further
LVMH Moët Hennessy Louis Vuitton SE, the world's largest luxury conglomerate, reported a 3% drop in third-quarter sales, undershooting market expectations as demand for high-end products in China and Japan weakened significantly. The Paris-based company, widely regarded as a barometer for the global luxury industry, posted revenue of 19.08 billion euros ($20.8 billion) for the quarter ending in September, missing analysts' forecasts of modest growth. 
LVMH Moët Hennessy Louis Vuitton SE, the world's largest luxury conglomerate, reported a 3% drop in third-quarter sales, undershooting market expectations as demand for high-end products in China and Japan weakened significantly. The Paris-based company, widely regarded as a barometer for the global luxury industry, posted revenue of 19.08 billion euros ($20.8 billion) for the quarter ending in September, missing analysts' forecasts of modest growth. -
Seattle Rally Intensifies Boeing Strike as Company Seeks $35 Billion Loan to Offset Mounting Losses
Boeing's ongoing financial crisis deepened this week as the company announced plans to borrow tens of billions of dollars to mitigate the fallout from a crippling worker strike and years of safety and operational issues. On Tuesday, Boeing filed plans to borrow $10 billion from a consortium of banks, while also seeking to raise $25 billion through stock and debt sales. These moves highlight the mounting pressure on Boeing as it grapples with labor unrest and a series of compounding crises. 
Boeing's ongoing financial crisis deepened this week as the company announced plans to borrow tens of billions of dollars to mitigate the fallout from a crippling worker strike and years of safety and operational issues. On Tuesday, Boeing filed plans to borrow $10 billion from a consortium of banks, while also seeking to raise $25 billion through stock and debt sales. These moves highlight the mounting pressure on Boeing as it grapples with labor unrest and a series of compounding crises. -
Goldman Sachs Reports 45% Surge in Profits Amid Resurgence in Deal-Making
Goldman Sachs has reported a strong third-quarter performance, with profits surging 45% compared to the same period last year. The Wall Street giant posted a net income of nearly $3 billion, up from around $2 billion in the third quarter of 2023. This growth was largely driven by a significant rebound in investment banking activity and increased revenue from stock trading, signaling that deal-making is on the rise again after a prolonged slump. 
Goldman Sachs has reported a strong third-quarter performance, with profits surging 45% compared to the same period last year. The Wall Street giant posted a net income of nearly $3 billion, up from around $2 billion in the third quarter of 2023. This growth was largely driven by a significant rebound in investment banking activity and increased revenue from stock trading, signaling that deal-making is on the rise again after a prolonged slump. -
Political Betting Fuels Trump Media's Stock Comeback Amid 2024 Election Buzz
Shares of Trump Media & Technology Group, the parent company of Truth Social, have been making a remarkable recovery in recent weeks, as traders and investors perceive an increased chance of Donald Trump regaining the White House in the upcoming 2024 election. 
Shares of Trump Media & Technology Group, the parent company of Truth Social, have been making a remarkable recovery in recent weeks, as traders and investors perceive an increased chance of Donald Trump regaining the White House in the upcoming 2024 election. -
Nvidia’s Market Cap Hits $3.4 Trillion, Poised to Dethrone Apple Amid AI Chip Frenzy
Nvidia, the world's leading AI chipmaker, is seeing its stock surge as Wall Street gears up for earnings season. The company's market cap has soared past $3.4 trillion, edging closer to Apple's $3.5 trillion, positioning Nvidia to potentially become the most valuable company in the world. On Monday, shares of Nvidia rose by 2.6% to $138.31, pushing the stock toward a record close, driven by continued optimism around its role in the artificial intelligence (AI) boom. 
Nvidia, the world's leading AI chipmaker, is seeing its stock surge as Wall Street gears up for earnings season. The company's market cap has soared past $3.4 trillion, edging closer to Apple's $3.5 trillion, positioning Nvidia to potentially become the most valuable company in the world. On Monday, shares of Nvidia rose by 2.6% to $138.31, pushing the stock toward a record close, driven by continued optimism around its role in the artificial intelligence (AI) boom.
