Jonathan Wong
The Latest
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Major Automakers Reel as Trump Tariffs Hit Supply Chains; Tesla Rises, Then Warns of Cost Impact
Major automakers saw their share prices tumble Thursday following President Donald Trump's announcement of sweeping 25% tariffs on all imported vehicles and auto parts, a move aimed at bolstering domestic manufacturing but one that threatens to disrupt global supply chains and inflate consumer prices. 
Major automakers saw their share prices tumble Thursday following President Donald Trump's announcement of sweeping 25% tariffs on all imported vehicles and auto parts, a move aimed at bolstering domestic manufacturing but one that threatens to disrupt global supply chains and inflate consumer prices. -
H&M Misses Q1 Targets With $5.5 Billion in Sales as Discounts and Star Campaigns Weigh on Margins
H&M reported weaker-than-expected sales and profit for its fiscal first quarter on Thursday, underscoring ongoing challenges at the Swedish fast-fashion giant as it works to regain momentum against global rivals. The company, the world's second-largest apparel retailer after Inditex, said sales in local currencies rose just 2% to 55.33 billion Swedish krona ($5.5 billion) for the three months ended February 28-short of the 55.86 billion forecast by analysts surveyed by LSEG. 
H&M reported weaker-than-expected sales and profit for its fiscal first quarter on Thursday, underscoring ongoing challenges at the Swedish fast-fashion giant as it works to regain momentum against global rivals. The company, the world's second-largest apparel retailer after Inditex, said sales in local currencies rose just 2% to 55.33 billion Swedish krona ($5.5 billion) for the three months ended February 28-short of the 55.86 billion forecast by analysts surveyed by LSEG. -
GameStop Stock Jumps 13% After Company Approves Bitcoin Investment Despite Retail Decline
GameStop Corp. is preparing to close a significant number of additional stores globally while shifting part of its cash reserves into bitcoin, marking a stark pivot for the once-dominant video game retailer. The move follows a year in which the company shuttered nearly 1,000 locations and reported a 28% year-over-year drop in fourth quarter revenue. 
GameStop Corp. is preparing to close a significant number of additional stores globally while shifting part of its cash reserves into bitcoin, marking a stark pivot for the once-dominant video game retailer. The move follows a year in which the company shuttered nearly 1,000 locations and reported a 28% year-over-year drop in fourth quarter revenue. -
Dollar Tree Exits Family Dollar with $1B Deal, Stock Jumps 7% Amid Strategic Shift
Dollar Tree Inc. is divesting its Family Dollar chain to private equity firms Brigade Capital Management and Macellum Capital Management for $1 billion, ending a troubled chapter nearly a decade after acquiring the discount retailer in a deal once valued at over $8 billion. 
Dollar Tree Inc. is divesting its Family Dollar chain to private equity firms Brigade Capital Management and Macellum Capital Management for $1 billion, ending a troubled chapter nearly a decade after acquiring the discount retailer in a deal once valued at over $8 billion. -
Apple Sets June 9 WWDC Date, Plans iOS 19 Redesign and AI Progress Update
Apple Inc. will kick off its Worldwide Developers Conference (WWDC) on June 9 with an in-person keynote at Apple Park and a weeklong virtual program, where it is expected to unveil major redesigns to iOS, iPadOS, and macOS alongside a long-awaited update on its artificial intelligence efforts. 
Apple Inc. will kick off its Worldwide Developers Conference (WWDC) on June 9 with an in-person keynote at Apple Park and a weeklong virtual program, where it is expected to unveil major redesigns to iOS, iPadOS, and macOS alongside a long-awaited update on its artificial intelligence efforts. -
BYD Surpasses Tesla With Record $107 Billion Revenue, 34% Profit Jump in 2024
Chinese electric vehicle manufacturer BYD posted record financial results for 2024, surpassing rival Tesla in annual revenue as it accelerates efforts to dominate the global EV market. The Shenzhen-based company reported revenue of 777.1 billion yuan ($107.2 billion), a 29% year-over-year increase, according to a filing released Monday at the Shenzhen stock exchange. 
Chinese electric vehicle manufacturer BYD posted record financial results for 2024, surpassing rival Tesla in annual revenue as it accelerates efforts to dominate the global EV market. The Shenzhen-based company reported revenue of 777.1 billion yuan ($107.2 billion), a 29% year-over-year increase, according to a filing released Monday at the Shenzhen stock exchange. -
United Airlines Raises Lounge Fees, Launches $1,400 'All Access' Membership
United Airlines is raising the cost of its airport lounge memberships and co-branded credit card fees, while introducing a new premium lounge tier, in the latest move by a major carrier to capitalize on consumer demand for travel perks. 
United Airlines is raising the cost of its airport lounge memberships and co-branded credit card fees, while introducing a new premium lounge tier, in the latest move by a major carrier to capitalize on consumer demand for travel perks. -
Hyundai to Announce $20 Billion U.S. Investment, Including $5 Billion Steel Plant in Louisiana
South Korea's Hyundai is preparing to announce a $20 billion investment in U.S. manufacturing, including a new $5 billion steel plant in Louisiana, according to people familiar with the plans. The announcement is expected Monday at the White House, with President Donald Trump, Hyundai Chairman Euisun Chung, and Louisiana Governor Jeff Landry slated to attend. 
South Korea's Hyundai is preparing to announce a $20 billion investment in U.S. manufacturing, including a new $5 billion steel plant in Louisiana, according to people familiar with the plans. The announcement is expected Monday at the White House, with President Donald Trump, Hyundai Chairman Euisun Chung, and Louisiana Governor Jeff Landry slated to attend. -
Trump Awards Boeing F-47 Contract, Revives Sixth-Gen Fighter Program With $300 Million Price Tag
President Donald Trump announced Friday that Boeing has been awarded the contract to build the U.S. Air Force's next-generation fighter jet, designated the F-47. The aircraft will serve as the centerpiece of the Pentagon's Next Generation Air Dominance (NGAD) program, which Trump declared has been revived under his administration after being paused for strategic review last year. 
President Donald Trump announced Friday that Boeing has been awarded the contract to build the U.S. Air Force's next-generation fighter jet, designated the F-47. The aircraft will serve as the centerpiece of the Pentagon's Next Generation Air Dominance (NGAD) program, which Trump declared has been revived under his administration after being paused for strategic review last year. -
Elon Musk Rallies Tesla Staff Amid Stock Slump, Lays Out Bold Robot and Robotaxi Plans
Tesla CEO Elon Musk sought to calm anxious employees and investors during an unscheduled all-hands meeting Thursday night, addressing concerns over the company's stock slump, mounting brand backlash, and clarifying future product plans. Musk's remarks, streamed internally and later shared publicly via X, come amid intensifying scrutiny of Tesla's financial performance and his own political entanglements. 
Tesla CEO Elon Musk sought to calm anxious employees and investors during an unscheduled all-hands meeting Thursday night, addressing concerns over the company's stock slump, mounting brand backlash, and clarifying future product plans. Musk's remarks, streamed internally and later shared publicly via X, come amid intensifying scrutiny of Tesla's financial performance and his own political entanglements.
