Jonathan Wong
The Latest
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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. -
Peloton Shares Skyrocket 15 Percent as Company Surprises Market with First Sales Growth in Nine Quarters After Aggressive Cost-Cutting
Peloton Interactive, the once high-flying fitness equipment maker, showed signs of recovery as its latest quarterly report revealed better-than-expected financial results, marking a critical step in the company's ongoing turnaround. The company, which became a household name during the pandemic, has been struggling to regain its footing after demand for its products plummeted post-pandemic. 
Peloton Interactive, the once high-flying fitness equipment maker, showed signs of recovery as its latest quarterly report revealed better-than-expected financial results, marking a critical step in the company's ongoing turnaround. The company, which became a household name during the pandemic, has been struggling to regain its footing after demand for its products plummeted post-pandemic. -
Advance Auto Parts Sells Worldpac for $1.5 Billion Amid Profit Downgrade and Investor Pressure
Advance Auto Parts announced on Thursday the sale of its Worldpac unit to private equity firm Carlyle Group for $1.5 billion in cash. The decision comes as the automotive afterparts provider faces increasing pressure from activist investors and struggles with lagging financial performance compared to its competitors. 
Advance Auto Parts announced on Thursday the sale of its Worldpac unit to private equity firm Carlyle Group for $1.5 billion in cash. The decision comes as the automotive afterparts provider faces increasing pressure from activist investors and struggles with lagging financial performance compared to its competitors. -
Starbucks Launches Fall Menu Earlier Than Ever, Banking on Pumpkin Spice Craze to Boost Sales
Starbucks is kicking off the fall season earlier than ever with the return of its highly anticipated Pumpkin Spice Latte (PSL) and a revamped lineup of seasonal favorites. The Seattle-based coffee giant announced that its fall menu would debut on Thursday, August 22-two days ahead of last year's launch-amid mounting pressure to reignite sales that have been sluggish in recent months. 
Starbucks is kicking off the fall season earlier than ever with the return of its highly anticipated Pumpkin Spice Latte (PSL) and a revamped lineup of seasonal favorites. The Seattle-based coffee giant announced that its fall menu would debut on Thursday, August 22-two days ahead of last year's launch-amid mounting pressure to reignite sales that have been sluggish in recent months. -
Ford Adjusts EV Strategy Amid Slower Adoption, Delays Next-Gen Pickup and Scraps Electric SUV
Ford Motor announced on Wednesday that it will delay the production of its next-generation all-electric pickup truck at a new plant in Tennessee and scrap plans for a three-row electric SUV. Instead, Ford will focus on expanding its lineup of hybrid vehicles and enhancing its electric commercial offerings, including the launch of a new electric van anticipated in 2026. 
Ford Motor announced on Wednesday that it will delay the production of its next-generation all-electric pickup truck at a new plant in Tennessee and scrap plans for a three-row electric SUV. Instead, Ford will focus on expanding its lineup of hybrid vehicles and enhancing its electric commercial offerings, including the launch of a new electric van anticipated in 2026. -
Macy’s Struggles Persist Amid Soft Consumer Spending and Revised Sales Forecast
Macy's Inc. (M) continues to grapple with declining sales as it faces an increasingly cautious consumer base, prompting the department store giant to lower its full-year sales forecast. 
Macy's Inc. (M) continues to grapple with declining sales as it faces an increasingly cautious consumer base, prompting the department store giant to lower its full-year sales forecast. -
Target’s Price Cuts Drive Traffic Surge, Boost Earnings Beyond Expectations
Target Corporation (TGT) delivered a surprising earnings beat in its latest quarter, largely driven by a strategic move to slash prices on over 5,000 essential products, a tactic that has resonated strongly with consumers in a high-inflation environment. The Minneapolis-based retailer reported a 2.7% year-over-year increase in net sales to $25.5 billion, surpassing Wall Street expectations, while diluted earnings per share surged 43% to $2.57, well above the forecasted $2.18. 
Target Corporation (TGT) delivered a surprising earnings beat in its latest quarter, largely driven by a strategic move to slash prices on over 5,000 essential products, a tactic that has resonated strongly with consumers in a high-inflation environment. The Minneapolis-based retailer reported a 2.7% year-over-year increase in net sales to $25.5 billion, surpassing Wall Street expectations, while diluted earnings per share surged 43% to $2.57, well above the forecasted $2.18. -
Edgar Bronfman Jr. Raises $5.5B in High-Stakes Bid to Acquire Paramount
Billionaire media mogul Edgar Bronfman Jr. has thrown a significant wrench into the ongoing negotiations for the acquisition of Paramount Global. Bronfman, a former Warner Music Group executive, has submitted a multi-billion dollar bid to acquire the Hollywood giant, challenging an $8 billion deal previously struck between Paramount and Skydance Media. The bold move by Bronfman, who has raised $5.5 billion for his bid, marks a high-stakes battle for control over one of the most storied names in entertainment. 
Billionaire media mogul Edgar Bronfman Jr. has thrown a significant wrench into the ongoing negotiations for the acquisition of Paramount Global. Bronfman, a former Warner Music Group executive, has submitted a multi-billion dollar bid to acquire the Hollywood giant, challenging an $8 billion deal previously struck between Paramount and Skydance Media. The bold move by Bronfman, who has raised $5.5 billion for his bid, marks a high-stakes battle for control over one of the most storied names in entertainment.
