Jonathan Wong
The Latest
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JPMorgan Chase Rolls Out AI Assistant to 60,000 Employees, Signaling Major Shift in Banking Operations
JPMorgan Chase, the largest bank in the United States, is making a significant leap into the future with the widespread deployment of a generative artificial intelligence assistant to its workforce. 
JPMorgan Chase, the largest bank in the United States, is making a significant leap into the future with the widespread deployment of a generative artificial intelligence assistant to its workforce. -
TSMC Breaks Records in July with 45% Revenue Surge Amid AI Chip Boom
Taiwan Semiconductor Manufacturing Co. (TSMC) reported a 45% surge in revenue for July, driven by the growing global demand for artificial intelligence (AI) chips and robust orders from tech giants like Apple, Nvidia, and Intel. The company's sales reached NT$256.95 billion ($7.9 billion), marking one of the strongest months in its history and setting a new record as it capitalizes on the booming AI and mobile device markets. 
Taiwan Semiconductor Manufacturing Co. (TSMC) reported a 45% surge in revenue for July, driven by the growing global demand for artificial intelligence (AI) chips and robust orders from tech giants like Apple, Nvidia, and Intel. The company's sales reached NT$256.95 billion ($7.9 billion), marking one of the strongest months in its history and setting a new record as it capitalizes on the booming AI and mobile device markets. -
Delta Slashes U.S. Revenue by $380 Million, Cites CrowdStrike Outage as Cause of Unprecedented Service Collapse
In a dramatic escalation of its ongoing conflict with cybersecurity firm CrowdStrike, Delta Air Lines announced on Thursday that the recent technology outage, which led to the cancellation of approximately 7,000 flights, has resulted in a staggering $550 million hit to the airline. The financial blow includes a $380 million revenue loss, primarily due to refunding passengers and compensating them with cash and SkyMiles, according to Delta's latest securities filing. 
In a dramatic escalation of its ongoing conflict with cybersecurity firm CrowdStrike, Delta Air Lines announced on Thursday that the recent technology outage, which led to the cancellation of approximately 7,000 flights, has resulted in a staggering $550 million hit to the airline. The financial blow includes a $380 million revenue loss, primarily due to refunding passengers and compensating them with cash and SkyMiles, according to Delta's latest securities filing. -
Paramount Cuts 15% of U.S. Workforce Amid $6 Billion Write-Down as TV Industry Faces Major Challenges
Paramount Global announced a sweeping set of measures on Thursday, including the layoff of 15% of its U.S. workforce and a $6 billion write-down of its cable television networks. The media giant, known for its iconic brands like Nickelodeon, MTV, and Comedy Central, is taking these steps as it prepares to merge with Skydance Media, a deal that could reshape the future of the company. 
Paramount Global announced a sweeping set of measures on Thursday, including the layoff of 15% of its U.S. workforce and a $6 billion write-down of its cable television networks. The media giant, known for its iconic brands like Nickelodeon, MTV, and Comedy Central, is taking these steps as it prepares to merge with Skydance Media, a deal that could reshape the future of the company. -
Costco Implements Membership Scanners to Combat Card Sharing
Costco Wholesale is introducing a new system to ensure only valid members gain entry to its warehouses. Traditionally, customers have shown their membership cards to an employee at the entrance, but Costco has observed a growing trend of non-members using someone else's card to shop. To address this issue, the retail giant will be rolling out membership scanning devices at the entrance of its stores in the coming months. 
Costco Wholesale is introducing a new system to ensure only valid members gain entry to its warehouses. Traditionally, customers have shown their membership cards to an employee at the entrance, but Costco has observed a growing trend of non-members using someone else's card to shop. To address this issue, the retail giant will be rolling out membership scanning devices at the entrance of its stores in the coming months. -
Eli Lilly's Earnings Surge as Mounjaro and Zepbound Sales Soar
Eli Lilly & Co. has significantly exceeded market expectations with its second-quarter earnings, driven by the soaring demand for its diabetes drug Mounjaro and weight loss injection Zepbound. The pharmaceutical giant reported revenues of $11.3 billion, marking a 36% increase from the same period last year, far surpassing the anticipated $9.92 billion. Consequently, Eli Lilly has raised its full-year revenue outlook by $3 billion, now expecting between $45.4 billion and $46.6 billion. 
Eli Lilly & Co. has significantly exceeded market expectations with its second-quarter earnings, driven by the soaring demand for its diabetes drug Mounjaro and weight loss injection Zepbound. The pharmaceutical giant reported revenues of $11.3 billion, marking a 36% increase from the same period last year, far surpassing the anticipated $9.92 billion. Consequently, Eli Lilly has raised its full-year revenue outlook by $3 billion, now expecting between $45.4 billion and $46.6 billion. -
Boeing's New CEO Ortberg Takes Helm Amid Mounting Challenges
Boeing's new CEO, Robert "Kelly" Ortberg, officially took the reins on Thursday, embarking on a mission to restore the reputation of the iconic U.S. aerospace manufacturer. With a track record of three decades in the industry and a reputation for being a good listener, Ortberg steps into his role at a time when Boeing faces significant operational and financial challenges. 
Boeing's new CEO, Robert "Kelly" Ortberg, officially took the reins on Thursday, embarking on a mission to restore the reputation of the iconic U.S. aerospace manufacturer. With a track record of three decades in the industry and a reputation for being a good listener, Ortberg steps into his role at a time when Boeing faces significant operational and financial challenges. -
New York Times Surpasses Q2 Estimates with 300,000 New Digital Subscribers
The New York Times Company has reported a robust second-quarter performance, surpassing analysts' expectations and highlighting its continued growth in digital subscriptions. The newspaper publisher announced earnings of 45 cents per share, exceeding Wall Street's forecast of 41 cents. Revenue reached $625.1 million, slightly above the anticipated $624.6 million. This performance underscores the Times' successful diversification strategy amidst a challenging landscape for the media industry, characterized by layoffs, the rise of artificial intelligence, and declining readership. 
The New York Times Company has reported a robust second-quarter performance, surpassing analysts' expectations and highlighting its continued growth in digital subscriptions. The newspaper publisher announced earnings of 45 cents per share, exceeding Wall Street's forecast of 41 cents. Revenue reached $625.1 million, slightly above the anticipated $624.6 million. This performance underscores the Times' successful diversification strategy amidst a challenging landscape for the media industry, characterized by layoffs, the rise of artificial intelligence, and declining readership. -
McDonald's Taps into Nostalgia with New Collector's Meal: Exclusive Cup Designs Revealed
McDonald's is diving deep into nostalgia with its latest promotion, aiming to reignite the excitement of collectibles among its customers. The fast-food giant announced the introduction of the "Collector's Meal," which will come paired with a unique set of collectible cups designed to evoke "core memories" for fans. This limited-time offer will be available at participating McDonald's locations starting August 13. 
McDonald's is diving deep into nostalgia with its latest promotion, aiming to reignite the excitement of collectibles among its customers. The fast-food giant announced the introduction of the "Collector's Meal," which will come paired with a unique set of collectible cups designed to evoke "core memories" for fans. This limited-time offer will be available at participating McDonald's locations starting August 13. -
CVS Health Cuts Profit Outlook Amid Rising Medical Costs and Leadership Changes
CVS Health Corporation (CVS) has once again revised its profit outlook for 2024, marking the third consecutive quarter the healthcare giant has had to lower its forecast. The company attributed the latest downgrade to escalating medical costs, which have been squeezing its insurance business. In a related move, Aetna President Brian Kane, the top executive of the CVS-owned insurance unit, will leave the company immediately, with CEO Karen Lynch taking over his responsibilities. 
CVS Health Corporation (CVS) has once again revised its profit outlook for 2024, marking the third consecutive quarter the healthcare giant has had to lower its forecast. The company attributed the latest downgrade to escalating medical costs, which have been squeezing its insurance business. In a related move, Aetna President Brian Kane, the top executive of the CVS-owned insurance unit, will leave the company immediately, with CEO Karen Lynch taking over his responsibilities.
