Warren Buffett’s Berkshire Hathaway has been steadily offloading Bank of America shares, with the total sales surpassing $7 billion since mid-July. The conglomerate reduced its stake to 11% after shedding 5.8 million BofA shares in separate sales. This latest action marks the 12th consecutive selling streak by Berkshire, matching the previous streak from July 17
Global Finance
The U.K. is facing criticism for its lackluster performance in commercializing technology businesses on a global scale. Warren East, former CEO of British chip design firm Arm, highlighted the need for a mindset shift within the investor community to ensure that U.K. companies can compete effectively on the world stage. East noted that the U.K.
As the U.S. Federal Reserve gears up for its next meeting, the debate over the magnitude of the rate cut continues to escalate. Michael Yoshikami, CEO of Destination Wealth Management, has proposed a jumbo 50 basis point rate cut, arguing that such a move would demonstrate the central bank’s proactive stance towards supporting job growth.
Exchange-traded fund inflows have already reached monthly records in 2024 and are showing no signs of slowing down. The influx of capital has caught the attention of fund managers and analysts who are closely monitoring the situation for potential impacts on the market. With a staggering $6 trillion plus parked in money market funds, experts
China’s policymakers, according to former head of the People’s Bank of China, Yi Gang, need to prioritize boosting domestic demand rather than focusing on external factors. In a speech at the Bund Summit in Shanghai, Yi emphasized the importance of fighting deflationary pressure and improving domestic demand to stimulate economic growth. He highlighted the need
Visa recently announced its plans to introduce a dedicated service for bank transfers in Europe, bypassing the traditional credit card and direct debit process. This new service, known as account-to-account (A2A) payments, is set to revolutionize the way consumers make and manage payments online. The Problem with Direct Debits Currently, when consumers set up payments
The semiconductor industry in Asia experienced a significant downturn on Wednesday morning, as a direct result of Nvidia’s sharp decline in the U.S. The ripple effect was felt across the region, with major players such as Samsung Electronics and SK Hynix being dragged down along with Nvidia. This sudden shift in market dynamics was fueled
China’s property struggles and U.S. sanctions have had a significant impact on various cities in the country, according to the Milken Institute’s best performing cities China index. Hangzhou, the capital of the eastern Zhejiang province, and home to tech giants like Alibaba, ranked first in this year’s rankings. This success can be attributed to the
The release of Black Myth: Wukong marked China’s entry into the world of AAA video games, sending shockwaves through the industry. Within just three days of its launch on Aug. 20, the action game set in mythological China sold over 10 million units, shattering records and demonstrating the country’s potential in the global gaming market.
Chinese President Xi Jinping recently met with U.S. national security advisor Jake Sullivan and expressed his hope for Washington to find “a right way” to foster better relations between the two countries. Despite escalating tensions in recent years, Xi emphasized China’s commitment to a stable and healthy relationship with the United States. Xi Jinping highlighted
At the ripe age of 94, Warren Buffett, the investment magnate, saw Berkshire Hathaway surge to a market capitalization of over $1 trillion, marking a historic milestone. Howard Marks, a distinguished investor and close friend of Buffett, attributes his enduring success to a meticulously crafted strategy executed with unwavering discipline, consistency, and exceptional insight. According
The White House announced that U.S. President Joe Biden and Chinese President Xi Jinping are scheduled to speak over the phone in the near future. This move comes as U.S. national security adviser Jake Sullivan visits Beijing to meet with Wang Yi, China’s top diplomat. In addition to the presidential phone call, both sides have