Warren Buffett turned 94 on Friday and his sprawling, one-of-a-kind conglomerate has never been worth more than it is today. Berkshire Hathaway became the first nontechnology company to top a $1 trillion market capitalization this week. Moreover, Berkshire Class A shares also topped $700,000 apiece for the first time ever. Howard Marks, a great investor
Global Finance
The White House has announced that President Joe Biden and Chinese President Xi Jinping are scheduled to have a phone conversation in the “coming weeks.” This comes as U.S. national security adviser Jake Sullivan travels to Beijing for discussions with Wang Yi, China’s top diplomat. The two leaders are expected to address a range of
Xpeng, the Chinese electric car company, made waves in the automotive industry on Tuesday with the launch of its new mass-market Mona brand. The Mona M03 electric coupe, priced as low as $16,812, quickly garnered attention with over 10,000 orders in just 52 minutes after its formal introduction in Beijing. This launch solidifies China’s position
The partnership between Volkswagen and Chinese startup Xpeng involves hundreds of Volkswagen staff spending time at Xpeng to develop electric cars for the Chinese market. This collaboration is significant as it aims to create two electric cars by 2026 based on Xpeng’s G9 platform. The fact that Volkswagen workers are spending more time at Xpeng’s
In recent years, efforts to enforce tax payments through passport revocation have been on the rise. The federal government now has the authority to revoke or limit a traveler’s passport if they have a seriously delinquent tax debt. This measure is considered a last resort to collect unpaid tax levies, according to experts in the
With the upcoming Federal Reserve interest rate decision in September, investors are turning their attention to dividend stocks. According to Paul Baiocchi of SS&C ALPS Advisors, this shift is a wise move as he anticipates the Fed to ease rates. Baiocchi mentioned in an interview on CNBC’s “ETF Edge” that investors are moving away from
The Covid-19 pandemic brought remote work to the forefront of the U.S. labor market, but economists now see it as a permanent fixture. Nick Bunker, economic research director for North America at Indeed, describes the work-from-home revolution as a significant shift that is here to stay. The concept of remote work includes both full-time home-based
Philadelphia Federal Reserve President Patrick Harker recently provided a strong endorsement for an interest rate cut in September. Speaking during the Fed’s annual retreat in Jackson Hole, Wyoming, Harker expressed a certainty that monetary policy easing is on the horizon. This statement is one of the most direct acknowledgments from a central bank official regarding
In a shocking turn of events, British technology entrepreneur Mike Lynch, who was recently acquitted of fraud charges in a landmark trial, has been reported missing after a tragic incident involving the sinking of a superyacht off the coast of Sicily. This news has left many stunned, as Lynch, once hailed as “Britain’s Bill Gates,”
Initially, it might seem like electric vehicles (EVs) are more cost-effective over time when compared to traditional gasoline-powered cars. The notion is that while EVs are usually more expensive to purchase upfront, the lower fuel and maintenance costs can lead to a lower total lifetime cost in comparison to gas vehicles. However, this statement cannot
Buffer ETFs are gaining attention among investors looking to hedge against recent market volatility. These exchange-traded funds, as highlighted by Bruce Bond, CEO of Innovator ETFs, offer a unique opportunity for individuals seeking exposure to the market while minimizing downside risk. For example, Innovator ETFs issue monthly buffer ETFs such as the PAUG ticker, which
China’s financial risks have been a topic of concern for quite some time, particularly when it comes to local government debt. People’s Bank of China Governor Pan Gongsheng recently stated in state media interviews that these risks have decreased. He mentioned that the central bank would collaborate with the Ministry of Finance to help China