Jonathan Wong
The Latest
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U.S. Semiconductor Industry Set to Triple Production by 2032 Under CHIPS Act
The U.S. semiconductor industry is poised for a significant expansion, with projections indicating that domestic chipmaking capacity will triple by 2032. This growth is largely fueled by the CHIPS Act, which has incentivized major chipmakers such as Intel, Taiwan Semiconductor Manufacturing Company (TSMC), and Samsung to expand their operations within the United States. 
The U.S. semiconductor industry is poised for a significant expansion, with projections indicating that domestic chipmaking capacity will triple by 2032. This growth is largely fueled by the CHIPS Act, which has incentivized major chipmakers such as Intel, Taiwan Semiconductor Manufacturing Company (TSMC), and Samsung to expand their operations within the United States. -
Intel's Second-Quarter Revenue Faces Hit as Commerce Department Bars Chip Sales to Chinese Customer
The U.S. Department of Commerce has revoked certain export licenses for Intel and Qualcomm, barring the chipmakers from selling consumer-related items to a Chinese customer, a move that is expected to impact Intel's second-quarter revenue. 
The U.S. Department of Commerce has revoked certain export licenses for Intel and Qualcomm, barring the chipmakers from selling consumer-related items to a Chinese customer, a move that is expected to impact Intel's second-quarter revenue. -
FTX Unveils Plan to Fully Repay Most Creditors, Proposes 118% Compensation for 98% of Claims
FTX, the once high-flying cryptocurrency exchange that imploded in November 2022, announced late Tuesday that it has recovered sufficient assets to pay back most of its creditors in full. The proposed reorganization plan, which requires approval from the U.S. Bankruptcy Court for the District of Delaware, aims to resolve disputes with governmental and private stakeholders without the need for costly and protracted litigation. 
FTX, the once high-flying cryptocurrency exchange that imploded in November 2022, announced late Tuesday that it has recovered sufficient assets to pay back most of its creditors in full. The proposed reorganization plan, which requires approval from the U.S. Bankruptcy Court for the District of Delaware, aims to resolve disputes with governmental and private stakeholders without the need for costly and protracted litigation. -
Peloton in Private Equity Crosshairs as Potential Buyout Looms
Amidst a significant downturn in its market value, Peloton, once a pandemic-era darling, is now a prime target for a potential buyout by several private equity firms. 
Amidst a significant downturn in its market value, Peloton, once a pandemic-era darling, is now a prime target for a potential buyout by several private equity firms. -
Disney Stock Plummets Despite Narrowing Streaming Losses and Improved Earnings Outlook
Disney (DIS) shares tumbled nearly 10% in early trading on Tuesday, despite the company reporting progress in its streaming business and raising its full-year earnings guidance. The mixed reaction from investors highlights the challenges Disney faces in achieving sustained profitability in streaming while navigating declines in its traditional linear TV business and potential headwinds in its theme parks division. 
Disney (DIS) shares tumbled nearly 10% in early trading on Tuesday, despite the company reporting progress in its streaming business and raising its full-year earnings guidance. The mixed reaction from investors highlights the challenges Disney faces in achieving sustained profitability in streaming while navigating declines in its traditional linear TV business and potential headwinds in its theme parks division. -
Elizabeth Holmes Secures Early Prison Release Date Amid Ongoing Appeals
Silicon Valley's once-celebrated CEO, Elizabeth Holmes, has achieved a further reduction in her prison sentence, setting a new anticipated release date from a Texas federal prison to August 16, 2032. 
Silicon Valley's once-celebrated CEO, Elizabeth Holmes, has achieved a further reduction in her prison sentence, setting a new anticipated release date from a Texas federal prison to August 16, 2032. -
BYD Shark Set to Electrify Pickup Market with Global Launch in Mexico
Chinese automaker BYD is poised to unveil its first electric pickup truck, the BYD Shark, in Mexico on May 14th. This global debut highlights BYD's strategic shift towards international markets, particularly focusing on regions where pickup trucks enjoy robust demand. 
Chinese automaker BYD is poised to unveil its first electric pickup truck, the BYD Shark, in Mexico on May 14th. This global debut highlights BYD's strategic shift towards international markets, particularly focusing on regions where pickup trucks enjoy robust demand. -
Boeing Faces New Investigation Over Potential Falsification of 787 Dreamliner Records
The U.S. Federal Aviation Administration (FAA) has launched a new investigation into Boeing after the planemaker voluntarily informed the regulator that it might have failed to properly carry out certain quality inspections on its 787 Dreamliner planes. 
The U.S. Federal Aviation Administration (FAA) has launched a new investigation into Boeing after the planemaker voluntarily informed the regulator that it might have failed to properly carry out certain quality inspections on its 787 Dreamliner planes. -
Trump Media Ousts Auditor Amid SEC Fraud Charges, Appoints New Firm
Trump Media & Technology Group has dismissed its accounting firm, BF Borgers, and engaged a new auditor, Semple, Marchal & Cooper LLP, after the SEC charged BF Borgers with conducting what it described as "sham audits," alleging the firm failed to conduct legitimate reviews and signed off on more than 1,500 regulatory filings improperly. 
Trump Media & Technology Group has dismissed its accounting firm, BF Borgers, and engaged a new auditor, Semple, Marchal & Cooper LLP, after the SEC charged BF Borgers with conducting what it described as "sham audits," alleging the firm failed to conduct legitimate reviews and signed off on more than 1,500 regulatory filings improperly. -
Qantas Settles for $79 Million in 'Ghost Flights' Lawsuit Amid Corporate Reputational Crisis
Qantas Airways has agreed to pay AUD 120 million (USD 79 million) to settle a lawsuit regarding the sale of thousands of tickets on flights that had already been canceled. This settlement marks a critical juncture for the Australian flagship carrier as it attempts to rebuild trust and stabilize its brand. 
Qantas Airways has agreed to pay AUD 120 million (USD 79 million) to settle a lawsuit regarding the sale of thousands of tickets on flights that had already been canceled. This settlement marks a critical juncture for the Australian flagship carrier as it attempts to rebuild trust and stabilize its brand.
