Jonathan Wong
The Latest
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United Airlines Reports 23% Profit Jump, but Forecast Misses Amid Industry Challenges
United Airlines reported a robust 23% increase in second-quarter profit, driven by strong demand for international travel. However, the airline's third-quarter forecast fell short of Wall Street expectations due to industry-wide overcapacity, which has pressured airfares. 
United Airlines reported a robust 23% increase in second-quarter profit, driven by strong demand for international travel. However, the airline's third-quarter forecast fell short of Wall Street expectations due to industry-wide overcapacity, which has pressured airfares. -
Amazon Workers Reject Union Recognition by Narrow Margin in Historic Vote
In a closely watched and historic ballot, workers at Amazon's Coventry warehouse narrowly rejected union recognition, marking a significant moment in labor relations for the e-commerce giant in the UK. The vote, which could have forced Amazon to recognize a union for the first time in the country, was decided by a slim margin, with 50.5% voting against and 49.5% in favor, a difference of just 29 votes. 
In a closely watched and historic ballot, workers at Amazon's Coventry warehouse narrowly rejected union recognition, marking a significant moment in labor relations for the e-commerce giant in the UK. The vote, which could have forced Amazon to recognize a union for the first time in the country, was decided by a slim margin, with 50.5% voting against and 49.5% in favor, a difference of just 29 votes. -
GM Boosts Production of High-Performance Cadillac Escalade Amid Surging Demand
General Motors (GM) is ramping up production of its high-performance Cadillac Escalade V-Series model as part of a comprehensive update to the flagship SUV for the 2025 model year. This move comes in response to heightened demand for the luxury vehicle, which has been a cornerstone of Cadillac's lineup and a significant profit driver for GM. 
General Motors (GM) is ramping up production of its high-performance Cadillac Escalade V-Series model as part of a comprehensive update to the flagship SUV for the 2025 model year. This move comes in response to heightened demand for the luxury vehicle, which has been a cornerstone of Cadillac's lineup and a significant profit driver for GM. -
Spirit Airlines Slashes Q2 Revenue Outlook Amid Non-Ticket Revenue Dip
Spirit Airlines, known for its ultra-low-cost fares, has revised its revenue expectations for the second quarter, attributing the downgrade to weaker-than-expected non-ticket revenue. This announcement, made on Tuesday, led to a significant drop in the airline's shares, which fell over 6% in after-hours trading. 
Spirit Airlines, known for its ultra-low-cost fares, has revised its revenue expectations for the second quarter, attributing the downgrade to weaker-than-expected non-ticket revenue. This announcement, made on Tuesday, led to a significant drop in the airline's shares, which fell over 6% in after-hours trading. -
Elon Musk to Move X and SpaceX HQ Out of California Amid Controversial Law
Elon Musk announced a significant relocation for two of his major companies, SpaceX and X (formerly known as Twitter), from California to Texas. This decision comes in the wake of a new California law that prevents school districts from mandating parental notification of a child's gender identity change, which Musk claims is the last straw among several state policies he opposes. 
Elon Musk announced a significant relocation for two of his major companies, SpaceX and X (formerly known as Twitter), from California to Texas. This decision comes in the wake of a new California law that prevents school districts from mandating parental notification of a child's gender identity change, which Musk claims is the last straw among several state policies he opposes. -
Bank of America Exceeds Q2 Expectations Amid Investment Banking Gains
Bank of America (BAC) has reported better-than-expected second-quarter revenue and profit, buoyed by a significant rise in investment banking and asset management fees. Despite facing challenges from higher interest rates affecting its consumer operations, the bank managed to leverage its Wall Street operations to deliver solid financial results. 
Bank of America (BAC) has reported better-than-expected second-quarter revenue and profit, buoyed by a significant rise in investment banking and asset management fees. Despite facing challenges from higher interest rates affecting its consumer operations, the bank managed to leverage its Wall Street operations to deliver solid financial results. -
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.
