Jonathan Wong
The Latest
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Global Airlines Boost Profit Forecast Amid Surge in Travel Demand
The global airline industry has significantly raised its profit forecast for 2024, projecting nearly $1 trillion in revenues as travel demand continues to soar. The International Air Transport Association (IATA) announced on Monday that it expects the worldwide industry to generate $30.5 billion in profit this year, up from an upwardly revised $27.4 billion in 2023. This marks a remarkable recovery from a $140 billion loss in 2020 due to the pandemic. 
The global airline industry has significantly raised its profit forecast for 2024, projecting nearly $1 trillion in revenues as travel demand continues to soar. The International Air Transport Association (IATA) announced on Monday that it expects the worldwide industry to generate $30.5 billion in profit this year, up from an upwardly revised $27.4 billion in 2023. This marks a remarkable recovery from a $140 billion loss in 2020 due to the pandemic. -
GameStop Shares Soar After ‘Roaring Kitty’ Resurfaces With Massive $116 Million Bet
GameStop Corp. shares skyrocketed on Monday, more than doubling in value after Keith Gill, the influential figure behind the 2021 meme-stock frenzy, posted a screenshot suggesting he holds a $116 million position in the company. This marked Gill's first major social media activity in three years, reigniting fervor among retail traders and sending shockwaves through the market. 
GameStop Corp. shares skyrocketed on Monday, more than doubling in value after Keith Gill, the influential figure behind the 2021 meme-stock frenzy, posted a screenshot suggesting he holds a $116 million position in the company. This marked Gill's first major social media activity in three years, reigniting fervor among retail traders and sending shockwaves through the market. -
U.S. Government Nears Funding Deal for Moderna's Bird Flu Vaccine Trial
The U.S. government is close to finalizing a significant agreement with Moderna to fund the late-stage trial of its mRNA bird flu vaccine, according to a report by the Financial Times. This move comes amidst rising concerns about the outbreak spreading to dairy cows and the potential for broader public health implications. 
The U.S. government is close to finalizing a significant agreement with Moderna to fund the late-stage trial of its mRNA bird flu vaccine, according to a report by the Financial Times. This move comes amidst rising concerns about the outbreak spreading to dairy cows and the potential for broader public health implications. -
Foot Locker Shares Surge as Turnaround Strategy Shows Early Success
Foot Locker's strategic turnaround appears to be gaining traction as the company's first-quarter results outperformed Wall Street expectations, sending its stock soaring by 30% in early trading on Thursday 
Foot Locker's strategic turnaround appears to be gaining traction as the company's first-quarter results outperformed Wall Street expectations, sending its stock soaring by 30% in early trading on Thursday -
Boeing Submits Safety Improvement Plan to FAA Amid Production Delays and Scrutiny
Boeing CEO Dave Calhoun and top company leaders are set to meet with the Federal Aviation Administration (FAA) on Thursday to present a comprehensive quality improvement plan. This plan is a critical response to the FAA's directive following a near-catastrophic blowout of a door panel on a new 737 Max 9 earlier this year. 
Boeing CEO Dave Calhoun and top company leaders are set to meet with the Federal Aviation Administration (FAA) on Thursday to present a comprehensive quality improvement plan. This plan is a critical response to the FAA's directive following a near-catastrophic blowout of a door panel on a new 737 Max 9 earlier this year. -
UBS Announces Major Executive Shake-Up, Splits Wealth Management Leadership
UBS Group AG announced a significant restructuring of its executive board on Thursday, marking a pivotal moment in the Swiss banking giant's ongoing integration of Credit Suisse, its fallen rival acquired in a dramatic rescue last year. This overhaul is part of UBS's broader strategy aimed at sustainable and strategic growth, particularly focusing on the Americas and Asia-Pacific regions. 
UBS Group AG announced a significant restructuring of its executive board on Thursday, marking a pivotal moment in the Swiss banking giant's ongoing integration of Credit Suisse, its fallen rival acquired in a dramatic rescue last year. This overhaul is part of UBS's broader strategy aimed at sustainable and strategic growth, particularly focusing on the Americas and Asia-Pacific regions. -
American Airlines Shares Plunge After Dismal Forecast
Shares of American Airlines took a nosedive on Wednesday after the company slashed its profit outlook, attributing the downgrade to weaker-than-expected demand and complications with a recent booking system upgrade. The news sent American Airlines' stock down nearly 15%, marking its worst trading day since June 2020, during the height of the pandemic. 
Shares of American Airlines took a nosedive on Wednesday after the company slashed its profit outlook, attributing the downgrade to weaker-than-expected demand and complications with a recent booking system upgrade. The news sent American Airlines' stock down nearly 15%, marking its worst trading day since June 2020, during the height of the pandemic. -
Merck to Acquire EyeBio in $3 Billion Deal to Enhance Ophthalmology Pipeline
Merck announced on Wednesday its agreement to acquire EyeBio, a privately held biotech company focused on ophthalmology, in a deal valued at up to $3 billion. This acquisition marks the latest move by the U.S. pharmaceutical giant to expand its pipeline and bolster future growth, especially as its blockbuster cancer drug, Keytruda, approaches the end of its exclusivity by the end of the decade. 
Merck announced on Wednesday its agreement to acquire EyeBio, a privately held biotech company focused on ophthalmology, in a deal valued at up to $3 billion. This acquisition marks the latest move by the U.S. pharmaceutical giant to expand its pipeline and bolster future growth, especially as its blockbuster cancer drug, Keytruda, approaches the end of its exclusivity by the end of the decade. -
Anglo American Rejects BHP’s $49 Billion Takeover Bid Amid Execution Concerns
Anglo American has rejected BHP Group's last-minute request to extend takeover talks, potentially ending a five-week pursuit by the mining giant. The British miner cited fundamental concerns regarding the execution risks of the proposed $49 billion deal, underscoring the complexity of the offer and its implications. 
Anglo American has rejected BHP Group's last-minute request to extend takeover talks, potentially ending a five-week pursuit by the mining giant. The British miner cited fundamental concerns regarding the execution risks of the proposed $49 billion deal, underscoring the complexity of the offer and its implications. -
Starbucks Resumes Union Talks Amid Operational Challenges
Starbucks is set to resume contract negotiations with its baristas' union this week, a critical juncture that follows a particularly challenging quarter for the coffee giant. With U.S. same-store sales down by 3% and traffic declining by 7%, the company has been forced to reassess its 2024 forecast. 
Starbucks is set to resume contract negotiations with its baristas' union this week, a critical juncture that follows a particularly challenging quarter for the coffee giant. With U.S. same-store sales down by 3% and traffic declining by 7%, the company has been forced to reassess its 2024 forecast.
