Jonathan Wong
The Latest
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Starbucks Shares Tumble Amid Economic Challenges and Political Boycotts
Starbucks, the global coffee giant, has seen its shares plummet nearly 14% following a challenging quarter marked by weakening demand in the U.S. and slower recovery rates in China. This significant drop came before the bell on Wednesday, with the company also cutting its annual forecasts amid numerous pressures including consumer resistance to price hikes and a broader economic slowdown. 
Starbucks, the global coffee giant, has seen its shares plummet nearly 14% following a challenging quarter marked by weakening demand in the U.S. and slower recovery rates in China. This significant drop came before the bell on Wednesday, with the company also cutting its annual forecasts amid numerous pressures including consumer resistance to price hikes and a broader economic slowdown. -
Walmart to Shutter All 51 Health Centers and Virtual Care Service Amid Profitability Concerns
Walmart, the U.S. retail giant, announced on Tuesday that it will close all 51 of its health centers and wind down its virtual care service after struggling to find success with the offerings. The decision comes as a surprise, given the company's previous plans to expand its health care venture by adding more than two dozen health centers to its stores this year. 
Walmart, the U.S. retail giant, announced on Tuesday that it will close all 51 of its health centers and wind down its virtual care service after struggling to find success with the offerings. The decision comes as a surprise, given the company's previous plans to expand its health care venture by adding more than two dozen health centers to its stores this year. -
Johnson & Johnson Agrees to $6.5 Billion Settlement in Talc Ovarian Cancer Lawsuits
Johnson & Johnson has announced a comprehensive settlement, agreeing to pay $6.5 billion to resolve the vast majority of U.S. lawsuits alleging that its talc-based products caused ovarian cancer. This settlement, facilitated through the third bankruptcy filing of its subsidiary LTL Management, marks a significant development in a series of legal battles that have tarnished the pharmaceutical giant's reputation and impacted its financial performance. 
Johnson & Johnson has announced a comprehensive settlement, agreeing to pay $6.5 billion to resolve the vast majority of U.S. lawsuits alleging that its talc-based products caused ovarian cancer. This settlement, facilitated through the third bankruptcy filing of its subsidiary LTL Management, marks a significant development in a series of legal battles that have tarnished the pharmaceutical giant's reputation and impacted its financial performance. -
Tesla Disbands Supercharger Team Amid Cost-Cutting Measures, Leaving Automakers and Customers Uncertain
In a surprising move that has left automakers and customers uncertain about the future of Tesla's electric vehicle (EV) charging network, CEO Elon Musk abruptly decided to lay off the employees who ran the company's Supercharger business. 
In a surprising move that has left automakers and customers uncertain about the future of Tesla's electric vehicle (EV) charging network, CEO Elon Musk abruptly decided to lay off the employees who ran the company's Supercharger business. -
Binance Founder Changpeng Zhao Sentenced to 4 Months in Prison for Money Laundering Violations
Changpeng Zhao, the billionaire founder of Binance, the world's largest cryptocurrency exchange, has been sentenced to four months in prison after pleading guilty to charges of enabling money laundering at his company. The sentencing, which took place on Tuesday in Seattle federal court, marks a significant development in the ongoing legal battles surrounding the crypto industry. 
Changpeng Zhao, the billionaire founder of Binance, the world's largest cryptocurrency exchange, has been sentenced to four months in prison after pleading guilty to charges of enabling money laundering at his company. The sentencing, which took place on Tuesday in Seattle federal court, marks a significant development in the ongoing legal battles surrounding the crypto industry. -
HSBC Group CEO Noel Quinn Announces Surprise Retirement After 37 Years with the Bank
Noel Quinn, the Group Chief Executive Officer of HSBC, has announced his surprise retirement after nearly five years at the helm of the London-based bank. The announcement, made on Tuesday, coincided with the release of HSBC's first-quarter earnings report, which showed a slight decline in profits compared to the previous year. 
Noel Quinn, the Group Chief Executive Officer of HSBC, has announced his surprise retirement after nearly five years at the helm of the London-based bank. The announcement, made on Tuesday, coincided with the release of HSBC's first-quarter earnings report, which showed a slight decline in profits compared to the previous year. -
NHTSA Launches Investigation into Ford's BlueCruise Technology Following Two Fatal Crashes
The National Highway Traffic Safety Administration (NHTSA) has initiated an investigation into Ford Motor's hands-free driving technology, BlueCruise, following two fatal crashes involving Mustang Mach-E SUVs colliding with parked vehicles. 
The National Highway Traffic Safety Administration (NHTSA) has initiated an investigation into Ford Motor's hands-free driving technology, BlueCruise, following two fatal crashes involving Mustang Mach-E SUVs colliding with parked vehicles. -
Bob Bakish to Step Down as Paramount Global CEO, Trio to Lead Amid Merger Speculations
Paramount Global announced a significant leadership change, revealing that CEO Bob Bakish will step down, effective immediately, amid ongoing merger negotiations and a strategic corporate overhaul. Bakish, who has been a pivotal figure in the company's evolution since 1997, will also relinquish his board position as the company transitions to a new leadership structure dubbed the "Office of the CEO." 
Paramount Global announced a significant leadership change, revealing that CEO Bob Bakish will step down, effective immediately, amid ongoing merger negotiations and a strategic corporate overhaul. Bakish, who has been a pivotal figure in the company's evolution since 1997, will also relinquish his board position as the company transitions to a new leadership structure dubbed the "Office of the CEO." -
Philips Reaches $1.1 Billion Settlement in US Over Recalled Respiratory Devices, Shares Soar
Dutch medical device maker Philips has reached a $1.1 billion settlement in the United States to resolve personal injury claims and a medical monitoring class action related to its recalled respiratory devices. The agreement, which addresses claims filed in U.S. courts and other potential cases, has sent the company's shares surging by more than 33 percent on the Amsterdam stock exchange, as the settlement amount is significantly lower than the $2-4 billion expected by analysts and the worst-case scenario of $10 billion. 
Dutch medical device maker Philips has reached a $1.1 billion settlement in the United States to resolve personal injury claims and a medical monitoring class action related to its recalled respiratory devices. The agreement, which addresses claims filed in U.S. courts and other potential cases, has sent the company's shares surging by more than 33 percent on the Amsterdam stock exchange, as the settlement amount is significantly lower than the $2-4 billion expected by analysts and the worst-case scenario of $10 billion. -
Tesla's Stock Surges as China Approves Full Self-Driving Deployment Under Certain Conditions
Tesla's stock (TSLA) experienced a significant surge in pre-market trading on Wall Street, gaining more than 6% following reports that China is set to approve the automaker's deployment of its Full Self-Driving (FSD) package in the country. The approval comes with certain conditions, according to a person with knowledge of the matter who asked to remain anonymous due to the ambiguity surrounding all the criteria. 
Tesla's stock (TSLA) experienced a significant surge in pre-market trading on Wall Street, gaining more than 6% following reports that China is set to approve the automaker's deployment of its Full Self-Driving (FSD) package in the country. The approval comes with certain conditions, according to a person with knowledge of the matter who asked to remain anonymous due to the ambiguity surrounding all the criteria.
