Jonathan Wong
The Latest
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Saudi Aramco Faces Profit Drop Amid Lower Crude Volumes, Yet Commits to Massive $31.1 Billion Dividend Payout
Saudi Aramco, the world's most profitable oil company and a cornerstone of Saudi Arabia's economy, reported a 3.4% decline in its second-quarter profits, primarily due to lower crude volumes and softer refining margins. Despite this dip, the company maintained its substantial dividend payouts, announcing $31.1 billion in dividends for the quarter, a move that highlights its commitment to shareholder returns amid fluctuating market conditions. 
Saudi Aramco, the world's most profitable oil company and a cornerstone of Saudi Arabia's economy, reported a 3.4% decline in its second-quarter profits, primarily due to lower crude volumes and softer refining margins. Despite this dip, the company maintained its substantial dividend payouts, announcing $31.1 billion in dividends for the quarter, a move that highlights its commitment to shareholder returns amid fluctuating market conditions. -
SunPower Files for Bankruptcy Amid Allegations and Market Struggles
In a significant blow to the residential solar industry, SunPower Corp., a prominent name in U.S. solar energy, has filed for Chapter 11 bankruptcy protection. The rooftop solar installer, known for its high-efficiency panels and widespread residential installations, cited high interest rates, allegations of financial misconduct, and a general decline in demand as key factors in its downfall. 
In a significant blow to the residential solar industry, SunPower Corp., a prominent name in U.S. solar energy, has filed for Chapter 11 bankruptcy protection. The rooftop solar installer, known for its high-efficiency panels and widespread residential installations, cited high interest rates, allegations of financial misconduct, and a general decline in demand as key factors in its downfall. -
German Retail Giant Rossmann Cuts Ties with Tesla Over Musk's Politics
Germany's Rossmann, one of Europe's largest drugstore chains, has announced it will cease purchasing Tesla vehicles for its fleet due to the political views expressed by Tesla CEO Elon Musk. This decision underscores growing concerns about the alignment between corporate values and executive actions, particularly in the context of Musk's vocal support for former President Donald Trump and his controversial social media platform X, formerly known as Twitter. 
Germany's Rossmann, one of Europe's largest drugstore chains, has announced it will cease purchasing Tesla vehicles for its fleet due to the political views expressed by Tesla CEO Elon Musk. This decision underscores growing concerns about the alignment between corporate values and executive actions, particularly in the context of Musk's vocal support for former President Donald Trump and his controversial social media platform X, formerly known as Twitter. -
Google Faces Potential Breakup After Losing Major Antitrust Case
A U.S. judge has declared that Google violated antitrust laws by creating and maintaining an illegal monopoly over the search market. This decision, handed down by U.S. District Judge Amit Mehta on Monday, marks a significant victory for federal authorities aiming to curb Big Tech's dominance and could reshape how millions of Americans access information online. 
A U.S. judge has declared that Google violated antitrust laws by creating and maintaining an illegal monopoly over the search market. This decision, handed down by U.S. District Judge Amit Mehta on Monday, marks a significant victory for federal authorities aiming to curb Big Tech's dominance and could reshape how millions of Americans access information online. -
Google Loses Major Antitrust Case Over Search Dominance
In a landmark ruling that could reshape the digital landscape, Google was found to have violated U.S. antitrust laws by using its search business to maintain a monopoly, according to a decision by U.S. District Judge Amit Mehta on Monday. This significant defeat for the tech giant could have far-reaching implications for how Americans access information online and potentially disrupt Google's long-standing dominance. 
In a landmark ruling that could reshape the digital landscape, Google was found to have violated U.S. antitrust laws by using its search business to maintain a monopoly, according to a decision by U.S. District Judge Amit Mehta on Monday. This significant defeat for the tech giant could have far-reaching implications for how Americans access information online and potentially disrupt Google's long-standing dominance. -
Apple Shares Tumble as Buffett Halves Stake Amid Market Turmoil
Warren Buffett's Berkshire Hathaway announced over the weekend that it had slashed its Apple stake by half. The revelation caused a dramatic decline in Apple's stock price on Monday, reflecting the broader global sell-off spurred by concerns of an economic slowdown. 
Warren Buffett's Berkshire Hathaway announced over the weekend that it had slashed its Apple stake by half. The revelation caused a dramatic decline in Apple's stock price on Monday, reflecting the broader global sell-off spurred by concerns of an economic slowdown. -
Amazon Shares Plunge Over 12% Amid Slowing Online Sales Growth and Cautious Outlook
Amazon.com Inc. experienced a significant drop in its stock price on Friday, falling more than 12% following a mixed second-quarter earnings report and a third-quarter forecast that fell short of Wall Street's expectations. The e-commerce giant's shares were trading at around $165, with the stock becoming one of the largest drags on the Nasdaq, poised to lose approximately $188 billion in market value if the losses hold. 
Amazon.com Inc. experienced a significant drop in its stock price on Friday, falling more than 12% following a mixed second-quarter earnings report and a third-quarter forecast that fell short of Wall Street's expectations. The e-commerce giant's shares were trading at around $165, with the stock becoming one of the largest drags on the Nasdaq, poised to lose approximately $188 billion in market value if the losses hold. -
Chevron Follows Exodus from California, Moves HQ to Texas After 150 Years
Chevron Corp. announced on Friday its decision to relocate its headquarters from San Ramon, California, to Houston, Texas. This decision marks the latest in a series of high-profile corporate exits from California, driven by increasingly stringent environmental regulations and business conditions. 
Chevron Corp. announced on Friday its decision to relocate its headquarters from San Ramon, California, to Houston, Texas. This decision marks the latest in a series of high-profile corporate exits from California, driven by increasingly stringent environmental regulations and business conditions. -
Exxon Mobil Posts $9.2 Billion Q2 Profit, Raises Output Target Amidst Pioneer Deal
Exxon Mobil Corporation has reported a substantial second-quarter profit of $9.2 billion, outperforming analyst expectations. The robust earnings were driven by a rise in oil prices and significant volume gains following the acquisition of Pioneer Natural Resources earlier this year. This performance highlights the effectiveness of Exxon's strategic maneuvers in a challenging market landscape. 
Exxon Mobil Corporation has reported a substantial second-quarter profit of $9.2 billion, outperforming analyst expectations. The robust earnings were driven by a rise in oil prices and significant volume gains following the acquisition of Pioneer Natural Resources earlier this year. This performance highlights the effectiveness of Exxon's strategic maneuvers in a challenging market landscape. -
Apple Pins Hopes on AI as China Sales Falter but Beats Earnings Expectations
Apple reported a significant boost in its quarterly profits on Thursday, though the tech giant missed revenue estimates, leading to a slight drop in after-hours trading. The company announced earnings of $13.5 billion for the April-June period, surpassing the $10.99 billion anticipated by industry analysts surveyed by FactSet. 
Apple reported a significant boost in its quarterly profits on Thursday, though the tech giant missed revenue estimates, leading to a slight drop in after-hours trading. The company announced earnings of $13.5 billion for the April-June period, surpassing the $10.99 billion anticipated by industry analysts surveyed by FactSet.
