Jonathan Wong
The Latest
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Dollar General to Pay $12 Million in Fines Over Workplace Safety Violations
Dollar General has agreed to pay $12 million in penalties and undertake significant safety improvements across its nearly 20,000 U.S. stores. This settlement with the Department of Labor aims to address longstanding safety concerns that have plagued the discount retailer for years. 
Dollar General has agreed to pay $12 million in penalties and undertake significant safety improvements across its nearly 20,000 U.S. stores. This settlement with the Department of Labor aims to address longstanding safety concerns that have plagued the discount retailer for years. -
Burberry Shares Plummets After Profit Warning and CEO Shake-Up
Burberry, the iconic British luxury brand, saw its shares plummet 16% on Monday after issuing a profit warning and announcing a significant leadership change. The company has appointed Joshua Schulman, a seasoned executive with prior roles at Michael Kors and Coach, as its new CEO. Jonathan Akeroyd, who had been in the role for just two years, is stepping down immediately by mutual agreement with the board. 
Burberry, the iconic British luxury brand, saw its shares plummet 16% on Monday after issuing a profit warning and announcing a significant leadership change. The company has appointed Joshua Schulman, a seasoned executive with prior roles at Michael Kors and Coach, as its new CEO. Jonathan Akeroyd, who had been in the role for just two years, is stepping down immediately by mutual agreement with the board. -
Macy’s Terminates Buyout Talks with Arkhouse and Brigade, Citing Financing Concerns
Macy's announced on Monday that it has terminated negotiations with Arkhouse Management and Brigade Capital Management regarding a potential buyout, citing significant concerns about the financing and value proposition of the offer. The decision marks the end of months of discussions aimed at taking the storied retailer private for approximately $6.9 billion. 
Macy's announced on Monday that it has terminated negotiations with Arkhouse Management and Brigade Capital Management regarding a potential buyout, citing significant concerns about the financing and value proposition of the offer. The decision marks the end of months of discussions aimed at taking the storied retailer private for approximately $6.9 billion. -
Goldman Sachs Profits Surge 150% as Investment Banking Rebounds
Goldman Sachs reported a significant surge in its second-quarter profits, marking a 150% increase from the same period last year. This surge is attributed to a robust rebound in investment banking activities. The Wall Street giant's net income for the quarter reached $3.04 billion, surpassing analyst expectations, while total revenues rose by 17% to $12.73 billion. 
Goldman Sachs reported a significant surge in its second-quarter profits, marking a 150% increase from the same period last year. This surge is attributed to a robust rebound in investment banking activities. The Wall Street giant's net income for the quarter reached $3.04 billion, surpassing analyst expectations, while total revenues rose by 17% to $12.73 billion. -
Trump Media Shares Surge 50% Following Assassination Attempt on Former President
The value of former President Donald Trump's social media company, Trump Media & Technology Group, skyrocketed Monday after an attempted assassination over the weekend. Trump Media's share price surged 53% in premarket trading, marking the biggest single-day gain since the company debuted in late March. 
The value of former President Donald Trump's social media company, Trump Media & Technology Group, skyrocketed Monday after an attempted assassination over the weekend. Trump Media's share price surged 53% in premarket trading, marking the biggest single-day gain since the company debuted in late March. -
Stop & Shop to Close 32 Stores Amid Rising Competition and Inflation Pressures
Stop & Shop, a major grocery chain owned by Dutch conglomerate Ahold Delhaize, announced on Friday its decision to close 32 underperforming stores across the northeastern United States. This strategic move aims to bolster the company's financial performance amidst growing competition and rising inflation. 
Stop & Shop, a major grocery chain owned by Dutch conglomerate Ahold Delhaize, announced on Friday its decision to close 32 underperforming stores across the northeastern United States. This strategic move aims to bolster the company's financial performance amidst growing competition and rising inflation. -
Wells Fargo Shares Drop as Higher Deposit Costs Cut Into Net Interest Income
Wells Fargo & Co. experienced a significant decline in its stock price on Friday after reporting second-quarter results that highlighted a sharp decrease in net interest income (NII) due to rising deposit costs. The San Francisco-based bank's shares dropped more than 5% in premarket trading, reflecting investor disappointment despite the company's overall profit beating Wall Street expectations. 
Wells Fargo & Co. experienced a significant decline in its stock price on Friday after reporting second-quarter results that highlighted a sharp decrease in net interest income (NII) due to rising deposit costs. The San Francisco-based bank's shares dropped more than 5% in premarket trading, reflecting investor disappointment despite the company's overall profit beating Wall Street expectations. -
Tesla Downgraded by UBS Over Valuation Concerns Despite AI Ambitions
Tesla Inc. faced a significant setback as UBS downgraded the stock to a sell rating, citing concerns that its shares have surged "too much, too soon" amid market enthusiasm for its artificial intelligence (AI) initiatives. This comes after Tesla's stock enjoyed an 11-day winning streak, its longest since June 2023. The downgrade led to an 8.4% drop in Tesla shares on Thursday, followed by a slight rebound of 0.3% to $241.67 during Friday's market action. 
Tesla Inc. faced a significant setback as UBS downgraded the stock to a sell rating, citing concerns that its shares have surged "too much, too soon" amid market enthusiasm for its artificial intelligence (AI) initiatives. This comes after Tesla's stock enjoyed an 11-day winning streak, its longest since June 2023. The downgrade led to an 8.4% drop in Tesla shares on Thursday, followed by a slight rebound of 0.3% to $241.67 during Friday's market action. -
JPMorgan's Jamie Dimon Warns of Persistent Inflation and High Interest Rates
JPMorgan Chase CEO Jamie Dimon issued a cautionary note on inflation and interest rates, despite recent signs of easing price pressures. Speaking alongside the bank's second-quarter results, Dimon warned that inflation might persist longer than expected, driven by factors such as large fiscal deficits, infrastructure needs, and global geopolitical tensions. 
JPMorgan Chase CEO Jamie Dimon issued a cautionary note on inflation and interest rates, despite recent signs of easing price pressures. Speaking alongside the bank's second-quarter results, Dimon warned that inflation might persist longer than expected, driven by factors such as large fiscal deficits, infrastructure needs, and global geopolitical tensions. -
Pfizer Advances Once-Daily Weight Loss Pill Amidst Market Setbacks
Pfizer Inc. announced plans to proceed with a once-daily version of its weight-loss pill, danuglipron, following positive data from early-stage trials. This move comes after the pharmaceutical giant discontinued a twice-daily formulation due to high dropout rates and significant side effects, including nausea and vomiting. 
Pfizer Inc. announced plans to proceed with a once-daily version of its weight-loss pill, danuglipron, following positive data from early-stage trials. This move comes after the pharmaceutical giant discontinued a twice-daily formulation due to high dropout rates and significant side effects, including nausea and vomiting.
