Jonathan Wong
The Latest
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Volvo Cars to Cut 3,000 Jobs Amid Cost-Cutting Push and Global Trade Pressures
Volvo Cars announced Monday it will eliminate approximately 3,000 jobs worldwide as part of a sweeping cost-cutting plan, citing rising raw material costs, trade tensions, and weakening auto markets in Europe. The cuts represent a significant restructuring effort for the Swedish automaker, which is owned by China's Geely Holding Group. 
Volvo Cars announced Monday it will eliminate approximately 3,000 jobs worldwide as part of a sweeping cost-cutting plan, citing rising raw material costs, trade tensions, and weakening auto markets in Europe. The cuts represent a significant restructuring effort for the Swedish automaker, which is owned by China's Geely Holding Group. -
Porn Platform OnlyFans Eyes $8 Billion Deal with U.S. Investor Group as IPO Also Weighed
OnlyFans parent company Fenix International Ltd. is in advanced discussions to sell the London-based adult-content platform to a U.S.-led investor group at a valuation of approximately $8 billion, according to three people familiar with the matter. The group is led by Los Angeles-based Forest Road Company, which has been quietly negotiating the acquisition for several months. 
OnlyFans parent company Fenix International Ltd. is in advanced discussions to sell the London-based adult-content platform to a U.S.-led investor group at a valuation of approximately $8 billion, according to three people familiar with the matter. The group is led by Los Angeles-based Forest Road Company, which has been quietly negotiating the acquisition for several months. -
U.S. Firm RedBird to Acquire Telegraph in $674 Million Deal, Ending Two-Year Auction Saga
RedBird Capital Partners has reached an agreement in principle to acquire the Telegraph Media Group in a £500 million ($674 million) deal, ending a protracted two-year effort to secure new ownership for the conservative-leaning British media institution. The consortium, led by RedBird founder Gerry Cardinale, will take control of both the Daily Telegraph and Sunday Telegraph, pending regulatory approval. 
RedBird Capital Partners has reached an agreement in principle to acquire the Telegraph Media Group in a £500 million ($674 million) deal, ending a protracted two-year effort to secure new ownership for the conservative-leaning British media institution. The consortium, led by RedBird founder Gerry Cardinale, will take control of both the Daily Telegraph and Sunday Telegraph, pending regulatory approval. -
Walmart Fires Back After Trump Tells Retailers to ‘Eat the Tariffs’
Walmart is warning that U.S. consumers will begin to see higher prices as early as June due to President Donald Trump's sweeping tariffs, even after a temporary reduction in levies on Chinese imports. The retail giant's stance has sparked a public rebuke from Trump, who accused the company of unfairly blaming his trade policies and urged it to "EAT THE TARIFFS." 
Walmart is warning that U.S. consumers will begin to see higher prices as early as June due to President Donald Trump's sweeping tariffs, even after a temporary reduction in levies on Chinese imports. The retail giant's stance has sparked a public rebuke from Trump, who accused the company of unfairly blaming his trade policies and urged it to "EAT THE TARIFFS." -
Target Warns of ‘Massive’ Tariff Costs as Sales Drop 2.8%, Boycott Adds Pressure
Target Corp. warned Wednesday that tariffs imposed under President Donald Trump's trade agenda could lead to "massive potential costs," compounding existing challenges as the retailer faces a sales downturn, consumer backlash over its diversity policies, and declining shopper confidence. CEO Brian Cornell said price hikes remain "a very last resort" but cannot be ruled out. 
Target Corp. warned Wednesday that tariffs imposed under President Donald Trump's trade agenda could lead to "massive potential costs," compounding existing challenges as the retailer faces a sales downturn, consumer backlash over its diversity policies, and declining shopper confidence. CEO Brian Cornell said price hikes remain "a very last resort" but cannot be ruled out. -
Home Depot Says It Won’t Raise Prices Amid Tariffs, Bucking Retail Industry Trend
Home Depot said Tuesday it has no plans to raise prices despite rising tariff costs, diverging from peers like Walmart and Stanley Black & Decker that are warning of consumer price hikes. The announcement came as the home improvement giant reported fiscal first-quarter revenue of $39.86 billion and reaffirmed its full-year sales forecast. 
Home Depot said Tuesday it has no plans to raise prices despite rising tariff costs, diverging from peers like Walmart and Stanley Black & Decker that are warning of consumer price hikes. The announcement came as the home improvement giant reported fiscal first-quarter revenue of $39.86 billion and reaffirmed its full-year sales forecast. -
China’s CATL Raises $4.6 Billion in Largest 2024 IPO, Defies U.S. Pressure with Global Expansion Plan
Contemporary Amperex Technology Co. Ltd., the world's largest electric vehicle battery manufacturer, raised $4.6 billion in a landmark Hong Kong listing Tuesday, marking the biggest initial public offering globally in 2024. Shares surged as much as 18.4% above their listing price of 263 Hong Kong dollars ($33.61) on the first day of trading, underscoring the company's growing dominance in the global clean energy sector despite mounting U.S.-China tensions. 
Contemporary Amperex Technology Co. Ltd., the world's largest electric vehicle battery manufacturer, raised $4.6 billion in a landmark Hong Kong listing Tuesday, marking the biggest initial public offering globally in 2024. Shares surged as much as 18.4% above their listing price of 263 Hong Kong dollars ($33.61) on the first day of trading, underscoring the company's growing dominance in the global clean energy sector despite mounting U.S.-China tensions. -
Xiaomi to Launch YU7 SUV in Major Push Against Tesla
Xiaomi will officially unveil its first electric SUV, the YU7, on May 22, joining a growing list of Chinese automakers vying to compete with Tesla in the world's largest auto market. The launch event, marking the company's 15th anniversary, will also feature several major product announcements, including the debut of Xiaomi's self-developed mobile chip, the Xring O1, alongside the new Xiaomi 15S Pro smartphone and Xiaomi 7 Ultra tablet. 
Xiaomi will officially unveil its first electric SUV, the YU7, on May 22, joining a growing list of Chinese automakers vying to compete with Tesla in the world's largest auto market. The launch event, marking the company's 15th anniversary, will also feature several major product announcements, including the debut of Xiaomi's self-developed mobile chip, the Xring O1, alongside the new Xiaomi 15S Pro smartphone and Xiaomi 7 Ultra tablet. -
Bessent Says Walmart Will ‘Eat Some Tariffs’ After Trump Demand; but Consumers May Still Face Price Hikes
Walmart will absorb a portion of the costs associated with President Donald Trump's new round of tariffs, Treasury Secretary Scott Bessent said Sunday, following direct pressure from the president and a private call with the company's CEO, Doug McMillon. The statement comes amid widespread concern about inflation and global trade volatility sparked by Trump's sweeping tariff policy. 
Walmart will absorb a portion of the costs associated with President Donald Trump's new round of tariffs, Treasury Secretary Scott Bessent said Sunday, following direct pressure from the president and a private call with the company's CEO, Doug McMillon. The statement comes amid widespread concern about inflation and global trade volatility sparked by Trump's sweeping tariff policy. -
Trump Tells Walmart to ‘Eat the Tariffs’ After Retailer Warns of Price Hikes
President Donald Trump lashed out at Walmart on Saturday after the retail giant warned that import tariffs would force it to raise prices on a range of consumer goods, including groceries and children's products. In a post on Truth Social, Trump dismissed the company's concerns and demanded that Walmart absorb the additional costs. 
President Donald Trump lashed out at Walmart on Saturday after the retail giant warned that import tariffs would force it to raise prices on a range of consumer goods, including groceries and children's products. In a post on Truth Social, Trump dismissed the company's concerns and demanded that Walmart absorb the additional costs.
