Jonathan Wong
The Latest
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Credit Card Delinquencies Surge as Nearly 1 in 5 Borrowers Maxed Out, New York Fed Report Reveals
Credit card delinquencies are on the rise, with nearly a fifth of borrowers "maxed-out" on their available credit, according to a new report from the New York Federal Reserve's Center for Microeconomic Data. The research shows that household debt increased by 1.1 percent, or $184 billion, in the first quarter of the year, bringing the total to a staggering $17.69 trillion. 
Credit card delinquencies are on the rise, with nearly a fifth of borrowers "maxed-out" on their available credit, according to a new report from the New York Federal Reserve's Center for Microeconomic Data. The research shows that household debt increased by 1.1 percent, or $184 billion, in the first quarter of the year, bringing the total to a staggering $17.69 trillion. -
GameStop and AMC Shares Tumble as Meme Stock Rally Loses Steam
The recent resurgence of meme stock fervor, sparked by the reemergence of Keith Gill, known online as "Roaring Kitty," on X (formerly Twitter), appears to be short-lived as shares of GameStop, AMC Entertainment, and other popular meme stocks declined on Wednesday morning. 
The recent resurgence of meme stock fervor, sparked by the reemergence of Keith Gill, known online as "Roaring Kitty," on X (formerly Twitter), appears to be short-lived as shares of GameStop, AMC Entertainment, and other popular meme stocks declined on Wednesday morning. -
DOJ Accuses Boeing of Violating 2021 Agreement, Considers Criminal Prosecution Over 737 Max Crashes
The Department of Justice (DOJ) has informed a federal judge that Boeing may have violated a 2021 agreement that shielded the company from criminal prosecution following two deadly 737 Max crashes overseas, which claimed the lives of 346 people. 
The Department of Justice (DOJ) has informed a federal judge that Boeing may have violated a 2021 agreement that shielded the company from criminal prosecution following two deadly 737 Max crashes overseas, which claimed the lives of 346 people. -
GameStop and AMC Soar Amid 'Roaring Kitty' Return, but Experts Doubt Meme Stock Rally's Sustainability
GameStop (GME) and AMC (AMC) shares have skyrocketed once again, with both stocks more than doubling in value over the past week. The surge in these meme stocks has been attributed to the reemergence of Keith Gill, also known as "Roaring Kitty," whose bullish stance on GameStop ignited the 2021 meme stock rally. However, Wall Street strategists caution that this recent burst of enthusiasm is unlikely to match the intensity of the 2021 mania. 
GameStop (GME) and AMC (AMC) shares have skyrocketed once again, with both stocks more than doubling in value over the past week. The surge in these meme stocks has been attributed to the reemergence of Keith Gill, also known as "Roaring Kitty," whose bullish stance on GameStop ignited the 2021 meme stock rally. However, Wall Street strategists caution that this recent burst of enthusiasm is unlikely to match the intensity of the 2021 mania. -
Walmart Cuts Hundreds of Corporate Jobs, Relocates Remote Workers to Main Offices
Walmart, the world's largest retailer, announced significant changes to its corporate workforce on Tuesday, revealing plans to cut hundreds of jobs and relocate many remote employees to larger office hubs. The move, outlined by Chief People Officer Donna Morris in a memo to employees, aims to enhance collaboration, innovation, and operational efficiency. 
Walmart, the world's largest retailer, announced significant changes to its corporate workforce on Tuesday, revealing plans to cut hundreds of jobs and relocate many remote employees to larger office hubs. The move, outlined by Chief People Officer Donna Morris in a memo to employees, aims to enhance collaboration, innovation, and operational efficiency. -
AMC Raises $250 Million Amid Meme Stock Surge, Stocks Skyrocket
AMC Entertainment Holdings successfully raised $250 million in new equity capital amid a revived meme stock rally, completing the sale on Monday. The movie theater chain sold 72.5 million shares in an at-the-market offering, launched on March 28, at an average price of $3.45 per share. The news of the stock sale sent AMC shares soaring another 110% in morning trading on Tuesday. 
AMC Entertainment Holdings successfully raised $250 million in new equity capital amid a revived meme stock rally, completing the sale on Monday. The movie theater chain sold 72.5 million shares in an at-the-market offering, launched on March 28, at an average price of $3.45 per share. The news of the stock sale sent AMC shares soaring another 110% in morning trading on Tuesday. -
Uber to Acquire Foodpanda's Taiwan Operations in $1.25 Billion Deal to Boost Market Presence
Uber Technologies Inc. has announced a $1.25 billion deal to acquire Delivery Hero's Foodpanda business in Taiwan. 
Uber Technologies Inc. has announced a $1.25 billion deal to acquire Delivery Hero's Foodpanda business in Taiwan. -
Melinda French Gates Steps Down from Foundation, Secures $12.5 Billion for New Projects
Melinda French Gates, one of the world's foremost philanthropists, announced Monday that she will step down as co-chair of the Bill & Melinda Gates Foundation, a role she has held since its inception in 2000. The foundation, which has disbursed nearly $78 billion in grants over the past 25 years, will now be solely chaired by Bill Gates. 
Melinda French Gates, one of the world's foremost philanthropists, announced Monday that she will step down as co-chair of the Bill & Melinda Gates Foundation, a role she has held since its inception in 2000. The foundation, which has disbursed nearly $78 billion in grants over the past 25 years, will now be solely chaired by Bill Gates. -
Major Airlines Sue DOT Over Mandatory Fee Disclosure Rules
Major U.S. airlines have filed a lawsuit against the Department of Transportation (DOT) over new regulations requiring the upfront disclosure of all airline fees. The lawsuit, lodged in the U.S. Fifth Circuit Court of Appeals by carriers including Alaska, American, Delta, Hawaiian, JetBlue, and United, as well as the industry lobby group Airlines For America (A4A), claims that the DOT exceeded its authority with these new rules. 
Major U.S. airlines have filed a lawsuit against the Department of Transportation (DOT) over new regulations requiring the upfront disclosure of all airline fees. The lawsuit, lodged in the U.S. Fifth Circuit Court of Appeals by carriers including Alaska, American, Delta, Hawaiian, JetBlue, and United, as well as the industry lobby group Airlines For America (A4A), claims that the DOT exceeded its authority with these new rules. -
BHP's Revised $42.7 Billion Takeover Bid for Anglo American Rejected, Deemed Undervalued
Anglo American has rejected a revised buyout offer from BHP Group, valuing the company at 34 billion pounds ($42.67 billion), stating that the world's largest listed miner "continues to significantly undervalue" the company. 
Anglo American has rejected a revised buyout offer from BHP Group, valuing the company at 34 billion pounds ($42.67 billion), stating that the world's largest listed miner "continues to significantly undervalue" the company.
