Jonathan Wong
The Latest
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Amgen’s MariTide Shows Promise With 20% Weight Loss, Yet Shares Dip 10%
Amgen Inc. announced on Tuesday that its experimental weight-loss drug, MariTide, demonstrated an average weight reduction of up to 20% over a year in a critical mid-stage clinical trial. Despite the positive results, the company's stock dropped 10%, as analysts expressed skepticism over whether the drug met the high expectations for its potential in the competitive obesity treatment market. 
Amgen Inc. announced on Tuesday that its experimental weight-loss drug, MariTide, demonstrated an average weight reduction of up to 20% over a year in a critical mid-stage clinical trial. Despite the positive results, the company's stock dropped 10%, as analysts expressed skepticism over whether the drug met the high expectations for its potential in the competitive obesity treatment market. -
Walmart Scales Back DEI Programs Amid Right-Wing Backlash
Walmart, the world's largest retailer and private employer in the United States, announced it will phase out several of its diversity, equity, and inclusion (DEI) initiatives, citing a desire to adapt to its employees and customers while facing increasing criticism from conservative groups. The changes reflect a growing trend among major corporations scaling back social responsibility programs in response to heightened political and legal scrutiny. 
Walmart, the world's largest retailer and private employer in the United States, announced it will phase out several of its diversity, equity, and inclusion (DEI) initiatives, citing a desire to adapt to its employees and customers while facing increasing criticism from conservative groups. The changes reflect a growing trend among major corporations scaling back social responsibility programs in response to heightened political and legal scrutiny. -
Best Buy Cuts Full-Year Forecast as Holiday Sales Struggle to Lift Weak Demand
Best Buy lowered its full-year sales forecast on Tuesday, citing softer demand for consumer electronics and subdued expectations for the holiday season. Despite early shopping trends and the release of new products such as AI-enabled laptops and the latest iPhones, the retailer reported third-quarter earnings that missed Wall Street estimates, highlighting the challenges of a post-pandemic retail landscape. 
Best Buy lowered its full-year sales forecast on Tuesday, citing softer demand for consumer electronics and subdued expectations for the holiday season. Despite early shopping trends and the release of new products such as AI-enabled laptops and the latest iPhones, the retailer reported third-quarter earnings that missed Wall Street estimates, highlighting the challenges of a post-pandemic retail landscape. -
Thyssenkrupp Steel to Cut 11,000 Jobs as German Industry Faces Mounting Challenges
Thyssenkrupp Steel Europe, Germany's largest steel producer, announced plans on Monday to cut 11,000 jobs by 2030, roughly 40% of its workforce, as part of a sweeping restructuring effort aimed at improving competitiveness. The job cuts will reduce the company's workforce from 27,000 to 16,000 over the next six years, reflecting the immense challenges faced by Germany's industrial sector in the wake of global competition, high energy costs, and weakening demand. 
Thyssenkrupp Steel Europe, Germany's largest steel producer, announced plans on Monday to cut 11,000 jobs by 2030, roughly 40% of its workforce, as part of a sweeping restructuring effort aimed at improving competitiveness. The job cuts will reduce the company's workforce from 27,000 to 16,000 over the next six years, reflecting the immense challenges faced by Germany's industrial sector in the wake of global competition, high energy costs, and weakening demand. -
Macy’s Delays Earnings Release After $154 Million Accounting Scandal
Macy's Inc. has delayed its third-quarter earnings report after uncovering an internal accounting issue involving as much as $154 million in hidden expenses. The discrepancy, which the company attributed to a single employee, has prompted an independent investigation and raised questions about oversight within the iconic retailer's financial processes. 
Macy's Inc. has delayed its third-quarter earnings report after uncovering an internal accounting issue involving as much as $154 million in hidden expenses. The discrepancy, which the company attributed to a single employee, has prompted an independent investigation and raised questions about oversight within the iconic retailer's financial processes. -
JPMorgan Under Federal Investigation for Alleged Links to Iranian Oil Trader’s Hedge Fund
JPMorgan Chase & Co. is under investigation by the U.S. Treasury Department for its relationship with Ocean Leonid Investments Ltd., a hedge fund reportedly linked to Iranian oil trader Hossein Shamkhani. 
JPMorgan Chase & Co. is under investigation by the U.S. Treasury Department for its relationship with Ocean Leonid Investments Ltd., a hedge fund reportedly linked to Iranian oil trader Hossein Shamkhani. -
Exxon Mobil Invests $200 Million to Expand Advanced Plastic Recycling
Exxon Mobil Corp. has announced a $200 million investment to significantly expand its advanced plastic recycling capacity in Texas, marking a major step in its effort to address the global plastic waste crisis. The initiative comes as the company faces a lawsuit from California accusing it of misleading the public about the efficacy of recycling in tackling the growing plastic pollution problem. 
Exxon Mobil Corp. has announced a $200 million investment to significantly expand its advanced plastic recycling capacity in Texas, marking a major step in its effort to address the global plastic waste crisis. The initiative comes as the company faces a lawsuit from California accusing it of misleading the public about the efficacy of recycling in tackling the growing plastic pollution problem. -
Delta CEO Ed Bastian Critiques ‘Overreach’ in Aviation Rules, Looks to Trump’s Deregulation
Delta Air Lines CEO Ed Bastian has expressed optimism about the incoming Trump administration, describing its regulatory approach as a potential "breath of fresh air" for the airline industry. Speaking ahead of Delta's investor day in Atlanta, Bastian pointed to the administration's promise to reform federal oversight and reduce what he characterized as excessive government intervention under President Joe Biden. 
Delta Air Lines CEO Ed Bastian has expressed optimism about the incoming Trump administration, describing its regulatory approach as a potential "breath of fresh air" for the airline industry. Speaking ahead of Delta's investor day in Atlanta, Bastian pointed to the administration's promise to reform federal oversight and reduce what he characterized as excessive government intervention under President Joe Biden. -
Target Misses Earnings Expectations, Warns of Weak Holiday Sales, Shares Drop 15%
Target Corporation is facing a turbulent financial outlook as the retailer reported disappointing third-quarter results and issued a cautious forecast for the upcoming holiday shopping season. The company's stock tumbled nearly 15% in early trading Wednesday, reflecting investor concerns over declining profit margins, supply chain challenges, and a strained consumer base. 
Target Corporation is facing a turbulent financial outlook as the retailer reported disappointing third-quarter results and issued a cautious forecast for the upcoming holiday shopping season. The company's stock tumbled nearly 15% in early trading Wednesday, reflecting investor concerns over declining profit margins, supply chain challenges, and a strained consumer base. -
Comcast to Spin Off MSNBC, CNBC, and Other Cable Channels into Separate Company
Comcast Corporation is set to spin off a major portion of its cable television networks, including prominent channels such as MSNBC and CNBC, into a separate publicly traded company. The move, expected to be officially announced on Wednesday, comes as the media giant pivots to adapt to shifting industry dynamics driven by the rapid growth of streaming services. The Wall Street Journal was the first to report the plan, citing sources with knowledge of the decision. 
Comcast Corporation is set to spin off a major portion of its cable television networks, including prominent channels such as MSNBC and CNBC, into a separate publicly traded company. The move, expected to be officially announced on Wednesday, comes as the media giant pivots to adapt to shifting industry dynamics driven by the rapid growth of streaming services. The Wall Street Journal was the first to report the plan, citing sources with knowledge of the decision.
