Jonathan Wong
The Latest
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UPS to Cut 20,000 Jobs and Shut 73 Buildings After Profit Tops Estimates Amid Tariff Pressures
United Parcel Service said Tuesday it plans to cut about 20,000 jobs and close 73 buildings by the end of June as part of a sweeping cost-reduction effort aimed at saving $3.5 billion in 2025, even as its first-quarter profit topped Wall Street estimates. 
United Parcel Service said Tuesday it plans to cut about 20,000 jobs and close 73 buildings by the end of June as part of a sweeping cost-reduction effort aimed at saving $3.5 billion in 2025, even as its first-quarter profit topped Wall Street estimates. -
Temu Slaps 145% Import Charges on U.S. Shoppers Following Trump Tariffs
Chinese online retailer Temu has sharply raised prices for U.S. customers by imposing import charges of roughly 145%, following the Trump administration's new round of tariffs on Chinese goods. The sudden price hikes have stunned shoppers, in some cases more than doubling the cost of popular items. 
Chinese online retailer Temu has sharply raised prices for U.S. customers by imposing import charges of roughly 145%, following the Trump administration's new round of tariffs on Chinese goods. The sudden price hikes have stunned shoppers, in some cases more than doubling the cost of popular items. -
IBM Commits $150 Billion to U.S. Tech Expansion, Including $30 Billion for Quantum Computer Manufacturing
International Business Machines Corp. announced Monday it will invest $150 billion in the United States over the next five years, including more than $30 billion specifically earmarked for boosting domestic manufacturing of quantum computers and mainframe systems. 
International Business Machines Corp. announced Monday it will invest $150 billion in the United States over the next five years, including more than $30 billion specifically earmarked for boosting domestic manufacturing of quantum computers and mainframe systems. -
Ant Group to Buy 50.55% Stake in Bright Smart Securities for $362 Million to Expand Financial Services
Ant Group, the fintech affiliate of Alibaba Group, announced Friday it is acquiring a 50.55% controlling stake in Bright Smart Securities & Commodities Group for HK$2.81 billion ($362 million), marking its first direct entry into the brokerage business. 
Ant Group, the fintech affiliate of Alibaba Group, announced Friday it is acquiring a 50.55% controlling stake in Bright Smart Securities & Commodities Group for HK$2.81 billion ($362 million), marking its first direct entry into the brokerage business. -
Cheap Goods No More: Shein and Temu Raise Prices Before U.S. Tariffs Kick In
Shein and Temu raised prices on Friday ahead of sweeping new tariffs targeting Chinese imports, as American consumers brace for cost increases on popular low-cost goods. The price hikes come days before the May 2 expiration of the "de minimis" exemption, a rule that has allowed items under $800 to enter the U.S. without tariffs. 
Shein and Temu raised prices on Friday ahead of sweeping new tariffs targeting Chinese imports, as American consumers brace for cost increases on popular low-cost goods. The price hikes come days before the May 2 expiration of the "de minimis" exemption, a rule that has allowed items under $800 to enter the U.S. without tariffs. -
China EV Giant BYD Sees First-Quarter Earnings Surge 100% as Sales Top 1 Million Units
Chinese electric vehicle leader BYD reported a 100.4% jump in net income for the first quarter of 2025, earning RMB 9.16 billion ($1.26 billion) as the company accelerates a competitive push in China's rapidly evolving new energy vehicle (NEV) market. 
Chinese electric vehicle leader BYD reported a 100.4% jump in net income for the first quarter of 2025, earning RMB 9.16 billion ($1.26 billion) as the company accelerates a competitive push in China's rapidly evolving new energy vehicle (NEV) market. -
Merck Warns $200 Million Tariff Hit in 2025 as Trump Threatens New Pharma Levies
U.S. pharmaceutical giant Merck has warned that existing tariffs imposed by the Trump administration will cost the company an additional $200 million this year, adding to a mounting industry backlash against protectionist trade measures targeting the global drug supply chain. 
U.S. pharmaceutical giant Merck has warned that existing tariffs imposed by the Trump administration will cost the company an additional $200 million this year, adding to a mounting industry backlash against protectionist trade measures targeting the global drug supply chain. -
Boeing CEO: China Sending Back Jets as U.S.-China Trade Fight Hits Aviation Sector
Boeing CEO Kelly Ortberg confirmed Wednesday that China has halted deliveries of its aircraft due to ongoing trade tensions with the United States, forcing the company to reroute jets originally built for Chinese airlines. The development marks one of the most direct commercial blows to U.S. industry stemming from President Donald Trump's escalating tariff war with Beijing. 
Boeing CEO Kelly Ortberg confirmed Wednesday that China has halted deliveries of its aircraft due to ongoing trade tensions with the United States, forcing the company to reroute jets originally built for Chinese airlines. The development marks one of the most direct commercial blows to U.S. industry stemming from President Donald Trump's escalating tariff war with Beijing. -
Southwest Joins Airline Retreat, Pulls Forecast and Cuts Flights Amid Macroeconomic Strain
Southwest Airlines withdrew its multi-year financial forecasts and announced plans to reduce capacity in the second half of 2025, joining a growing list of major U.S. carriers scaling back amid rising economic uncertainty and weakening domestic travel demand. The move marks a dramatic reversal for the airline industry, which just months ago had been projecting a prolonged recovery fueled by strong post-pandemic demand. 
Southwest Airlines withdrew its multi-year financial forecasts and announced plans to reduce capacity in the second half of 2025, joining a growing list of major U.S. carriers scaling back amid rising economic uncertainty and weakening domestic travel demand. The move marks a dramatic reversal for the airline industry, which just months ago had been projecting a prolonged recovery fueled by strong post-pandemic demand. -
Boeing Cuts Losses to $31 Million, Eyes FAA Approval to Boost 737 Max Output to 42 Per Month
Boeing Co. is preparing to seek Federal Aviation Administration approval to increase monthly production of its 737 Max aircraft to 42 units later this year, as the aerospace giant posted a narrower first-quarter loss and saw revenue rise amid improved jet deliveries. 
Boeing Co. is preparing to seek Federal Aviation Administration approval to increase monthly production of its 737 Max aircraft to 42 units later this year, as the aerospace giant posted a narrower first-quarter loss and saw revenue rise amid improved jet deliveries.
