Jonathan Wong
The Latest
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Equinox-Owned Blink Fitness Files for Chapter 11 as Industry Grapples with Post-Pandemic Realities
Blink Fitness, the budget-friendly gym chain owned by luxury fitness giant Equinox Group, has filed for Chapter 11 bankruptcy protection in an effort to stabilize its finances and position itself for a sale. The move marks another significant ripple in the fitness industry, which has been struggling to recover from the severe disruptions caused by the COVID-19 pandemic. 
Blink Fitness, the budget-friendly gym chain owned by luxury fitness giant Equinox Group, has filed for Chapter 11 bankruptcy protection in an effort to stabilize its finances and position itself for a sale. The move marks another significant ripple in the fitness industry, which has been struggling to recover from the severe disruptions caused by the COVID-19 pandemic. -
Adani Group Faces Fresh Setback as Hindenburg Accusations Resurface, Triggering Market Turmoil
Shares of the Adani Group, one of India's largest conglomerates, suffered another significant blow on Monday after a new report from U.S. short-seller Hindenburg Research accused the head of India's capital markets regulator of conflicts of interest that allegedly hindered a thorough investigation into fraud allegations against the company. 
Shares of the Adani Group, one of India's largest conglomerates, suffered another significant blow on Monday after a new report from U.S. short-seller Hindenburg Research accused the head of India's capital markets regulator of conflicts of interest that allegedly hindered a thorough investigation into fraud allegations against the company. -
Ola Electric’s IPO Soars 20% on Debut, Valuing Indian EV Startup at $4.8 Billion Amid EV Boom
Ola Electric, the Indian electric vehicle startup backed by SoftBank, made a striking entrance into the stock market on Friday, with its shares surging 20% on their debut. This impressive performance has positioned the company with a valuation of approximately $4.8 billion, marking it as one of India's most significant market debuts this year. 
Ola Electric, the Indian electric vehicle startup backed by SoftBank, made a striking entrance into the stock market on Friday, with its shares surging 20% on their debut. This impressive performance has positioned the company with a valuation of approximately $4.8 billion, marking it as one of India's most significant market debuts this year. -
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.
