Jonathan Wong
The Latest
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Delta's Q2 Revenue Soars, But Profits Hit by Competitive Airfare Market
Delta Air Lines reported record revenue for the second quarter, driven by robust summer travel demand, yet fell short of analysts' expectations as a surplus of flights forced carriers to discount fares. This revenue miss has led to an 8% drop in Delta's shares, raising concerns about the broader airline industry's ability to maintain profitability in a competitive market. 
Delta Air Lines reported record revenue for the second quarter, driven by robust summer travel demand, yet fell short of analysts' expectations as a surplus of flights forced carriers to discount fares. This revenue miss has led to an 8% drop in Delta's shares, raising concerns about the broader airline industry's ability to maintain profitability in a competitive market. -
Costco Raises Membership Fees for the First Time Since 2017
Costco announced on Wednesday that it will increase its membership fees for the first time since 2017. Starting September 1, annual membership fees in the U.S. and Canada will rise by $5, bringing the cost to $65 for standard memberships. The higher-tier "Executive Membership" will see a $10 increase, going up to $130 annually. 
Costco announced on Wednesday that it will increase its membership fees for the first time since 2017. Starting September 1, annual membership fees in the U.S. and Canada will rise by $5, bringing the cost to $65 for standard memberships. The higher-tier "Executive Membership" will see a $10 increase, going up to $130 annually. -
Walmart to Speed Up Perishable Goods Distribution with Five New Automated Warehouses
Walmart is set to transform its distribution network for perishable goods with the introduction of five new high-tech warehouses across the United States. This strategic move, aimed at bolstering the efficiency and speed of distributing temperature-sensitive products like milk, meat, fruits, and vegetables, is part of Walmart's broader effort to maintain its dominance in the grocery sector and enhance its online grocery business. 
Walmart is set to transform its distribution network for perishable goods with the introduction of five new high-tech warehouses across the United States. This strategic move, aimed at bolstering the efficiency and speed of distributing temperature-sensitive products like milk, meat, fruits, and vegetables, is part of Walmart's broader effort to maintain its dominance in the grocery sector and enhance its online grocery business. -
Microsoft Exits OpenAI Board Amid Regulatory Pressure, Ending Observer Role
Microsoft has stepped down from its observer seat on the OpenAI board, a move that underscores the increasing regulatory scrutiny on tech giants' relationships with AI startups. This decision, revealed in a letter to OpenAI and first reported by the Financial Times, follows intensified regulatory examination of Microsoft's $13 billion investment in the San Francisco-based AI developer. 
Microsoft has stepped down from its observer seat on the OpenAI board, a move that underscores the increasing regulatory scrutiny on tech giants' relationships with AI startups. This decision, revealed in a letter to OpenAI and first reported by the Financial Times, follows intensified regulatory examination of Microsoft's $13 billion investment in the San Francisco-based AI developer. -
United Airlines Under Fire: Another Wheel Incident Raises Safety Concerns
In yet another alarming incident for United Airlines, a Boeing 757-200 lost a main landing gear wheel during takeoff from Los Angeles on Monday. The aircraft, en route to Denver, landed safely, but the event adds to a growing list of safety concerns that have prompted federal oversight. 
In yet another alarming incident for United Airlines, a Boeing 757-200 lost a main landing gear wheel during takeoff from Los Angeles on Monday. The aircraft, en route to Denver, landed safely, but the event adds to a growing list of safety concerns that have prompted federal oversight. -
McDonald's Revives Popular Smoky BLT Quarter Pounder with Cheese for a Limited Time
McDonald's is set to reintroduce a fan-favorite sandwich for a limited time, much to the delight of its loyal customers. The fast-food giant announced the return of the Smoky BLT Quarter Pounder with Cheese, which will be available starting July 10. This sandwich, which first appeared on McDonald's menus in 2022, is making a comeback due to popular demand. 
McDonald's is set to reintroduce a fan-favorite sandwich for a limited time, much to the delight of its loyal customers. The fast-food giant announced the return of the Smoky BLT Quarter Pounder with Cheese, which will be available starting July 10. This sandwich, which first appeared on McDonald's menus in 2022, is making a comeback due to popular demand. -
Paramount's Future: What the Skydance Deal Means for Viewers and Hollywood
Skydance's acquisition of Paramount Global signals a new era for the iconic studio. With the deal expected to finalize early next year, the implications for the company's leadership and operations are already a hot topic. Skydance CEO David Ellison and former NBCUniversal chairman Jeff Shell, who will serve as president of the combined company, have promised a "fresh approach" to the business, prompting speculation about what this means for consumers of Paramount's diverse media offerings. 
Skydance's acquisition of Paramount Global signals a new era for the iconic studio. With the deal expected to finalize early next year, the implications for the company's leadership and operations are already a hot topic. Skydance CEO David Ellison and former NBCUniversal chairman Jeff Shell, who will serve as president of the combined company, have promised a "fresh approach" to the business, prompting speculation about what this means for consumers of Paramount's diverse media offerings. -
Boeing Admits Guilt in 737 Max Crashes, Avoids Harsh Penalties
Boeing has agreed to plead guilty to a charge of conspiracy to defraud the United States, specifically for misleading the Federal Aviation Administration (FAA) during the certification process of its 737 Max aircraft. 
Boeing has agreed to plead guilty to a charge of conspiracy to defraud the United States, specifically for misleading the Federal Aviation Administration (FAA) during the certification process of its 737 Max aircraft. -
Samsung's Stock Soars to Three-Year High on AI-Driven Profit Surge
Samsung Electronics has seen its stock reach a three-year high, buoyed by an extraordinary surge in second-quarter operating profits, driven primarily by strong demand for artificial intelligence (AI) technologies. The South Korean tech giant's shares climbed by 2.24% on Friday, reaching 86,500 Korean won ($62.73), their highest level since January 2021. 
Samsung Electronics has seen its stock reach a three-year high, buoyed by an extraordinary surge in second-quarter operating profits, driven primarily by strong demand for artificial intelligence (AI) technologies. The South Korean tech giant's shares climbed by 2.24% on Friday, reaching 86,500 Korean won ($62.73), their highest level since January 2021. -
Saks Fifth Avenue Parent HBC Acquires Neiman Marcus for $2.65 Billion, Forming Saks Global
Saks Fifth Avenue's parent company, Hudson's Bay Company (HBC), announced on Thursday that it will acquire the Neiman Marcus Group in a $2.65 billion deal. This significant transaction will merge two iconic luxury retailers, establishing a new entity called Saks Global, which will include Saks Fifth Avenue, Saks OFF 5TH, Neiman Marcus, and Bergdorf Goodman. 
Saks Fifth Avenue's parent company, Hudson's Bay Company (HBC), announced on Thursday that it will acquire the Neiman Marcus Group in a $2.65 billion deal. This significant transaction will merge two iconic luxury retailers, establishing a new entity called Saks Global, which will include Saks Fifth Avenue, Saks OFF 5TH, Neiman Marcus, and Bergdorf Goodman.
