Author: Press Room
Summary Berkshire has brought its stakes in Mitsubishi, Mitsui & Co, Itochu, Marubeni and Sumitomo up to 7.4%. In an interview with Nikkei, Buffett goes into detail on Berkshire’s Japan investments. He also talks a little about why he backtracked on Taiwan Semiconductor. On Tuesday, April 11, Warren Buffett (Trades, Portfolio) loaded up on more shares of Japan’s top five trading houses, bringing Berkshire Hathaway’s (BRK.A, Financial)(BRK.B, Financial) stake in each of them up to 7.4% according to CNBC. Buffett also revealed in an interview with Nikkei that he was considering raising his stakes in the five companies even further.…
Topline A quartet of large American banks smashed expectations in their quarterly earnings reports Friday, sending their respective stocks surging as investors regain confidence in the industry marred by regional bank struggles last month. Key Facts JPMorgan, Citigroup, Wells Fargo and PNC – the first, third, fourth and sixth largest U.S. banks by assets—disclosed their latest financial data Friday morning, handily beating consensus profit estimates, and all but PNC beating revenue forecasts. Their stocks largely rose in early trading, with JPMorgan’s 7% gain leading the way, while shares of Citi and Wells Fargo popped 4% and 1%, respectively, while PNC…
The commercial real estate market may be headed for a crash that rivals the 2008 financial crisis this year. Office and retail property valuations could plummet as much as 40% from peak to trough this year as higher interest rates make it harder for investors to refinance trillions in looming debt, according to Lisa Shalett, chief investment officer for Morgan Stanley Wealth Management.”MS & Co. analysts forecast a peak-to-trough CRE price decline of as much as 40%, worse than in the Great Financial Crisis,” Shalett wrote in a weekly investment note. “More than 50% of the $2.9 trillion in commercial…
Former President Donald Trump made at least six figures of income selling NFTs last year, his new financial disclosure showed Friday.NFTs, short for nonfungible tokens, are unique digital assets that have their ownership recorded on a digital ledger called a blockchain.Trump has made between $100,001 and $1 million in income from NFTs, according to his 2022 financial disclosure form published by the watchdog group CREW.Trump, currently a leading contender for the 2024 Republican presidential nomination, was required to file the form as a candidate for federal office, CREW noted.Trump in December announced his first NFT collection — a series of…
The Federal Aviation Administration issued a Starship launch license to Elon Musk’s SpaceX, a crucial final regulatory step that clears the company to attempt an orbital launch of its towering rocket for the first time.”After a comprehensive license evaluation process, the FAA determined SpaceX met all safety, environmental, policy, payload, airspace integration and financial responsibility requirements. The license is valid for five years,” FAA said in a statement.SpaceX, with the FAA license now in hand, aims to launch Starship as soon as Monday from its private facility in Texas along the Gulf Coast.”SpaceX is targeting as soon as Monday, April…
Montana became the first US state on Friday to pass legislation banning TikTok on all personal devices, sending a bill to Gov. Greg Gianforte prohibiting TikTok from operating within state lines and barring app stores from offering TikTok for downloads. The legislation marks the furthest step yet by a state government to restrict TikTok over perceived security concerns and comes as some federal lawmakers have called for a national ban of TikTok. Lawmakers in Montana’s House voted 54-43 to give final approval to the bill, known as SB419. Should Gianforte sign the bill, it would take effect in January. But…
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After hitting their highest levels last month since the aftermath of the FTX cryptocurrency exchange collapse last November thanks to significant volatility and zero trading fees on BTC pairs on Binance, spot Bitcoin trading volumes have fallen significantly.According to data pulled from CoinGecko’s API, spot Bitcoin trading volumes across major exchanges were around $16.4 billion on Friday.That compares to close to $70 billion this time last month.And it’s not just spot volumes that have weakened recently.According to data presented by crypto analytics website The Block, mid-way through April, Bitcoin futures trading volume have only reached around $350 billion month-to-date.For the…
FTX cofounder Gary Wang was a critical player during the rise and fall of SBF’s crypto empire. Wang also served as FTX’s former chief technology officer but kept a low profile. After pleading guilty to fraud in December, Wang is said to be cooperating with the prosecutors. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Gary Wang, the cofounder of FTX, has been a mysterious but critical player in the rise and spectacular fall of the crypto empire. After pleading guilty to fraud in December,…
Someday, maybe, you’ll be driving like usual, and you’ll stop at a red light, as usual. You’ll take the opportunity to sneak a peek at the car next to you, and the guy behind that wheel — if there’s a wheel at all — will be watching Netflix. His car will be driving itself, as will many of the others around you. It’ll be a bumper-to-bumper jumble of robots and humans.If all the cars were robots, maybe you wouldn’t even need the traffic light. The self-driving vehicles would just ping their vectors at each other, and collective computation would choreograph…
