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10 Ways to Explain Why Interest Rates Are So High
If you can’t pin down why something’s happening, you don’t have much hope of fixing it.
Paramount Weighs Some Concessions in Bid to Finalize Warner Bros. Merger
Seeking to settle a lawsuit with 12 states, Paramount has discussed measures to protect the editorial independence of CNN and the divestiture of Comedy Central.
Trump Says He Has Banned CNN, MS NOW and Politico From White House
The president cited reporting from the outlets that he deemed “fake news.” It was unclear how such a ban would be enforced or defended in court.
Warren Buffett to step down from Berkshire Hathaway
Billionaire investor Warren Buffett will step down as chairman of Berkshire Hathaway, the conglomerate announced on Friday. The news brings to an end the revered investor's more than half-a-century of running the group, which he turned into a financial behemoth. Buffett's resignation is "effective immediately" and he will remain a member of the board of directors, Berkshire Hathaway said in a statement. Buffett's son Howard Buffett will take over as chairman, the statement added. The 96-year-old had announced plans last year to retire from leading the business group. Berkshire Hathaway, a former small textile company, has grown over the years into a gigantic conglomerate under Buffett's leadership, and is now worth over US$1 trillion on Wall Street -- a first for an American group outside the tech sector. Today, his conglomerate owns dozens of businesses, from Duracell batteries to US insurer Geico, and shares in carefully selected companies, from Coca-Cola to Bank of America. (AFP) Edited by Robert Kemp
Native American Tribe Teams Up With Kalshi on New Prediction Market
The Tunica-Biloxi of Louisiana plan to release a platform that uses infrastructure by Kalshi, the industry leader. Other tribes have taken aim at the company.
Trump Promotes Program to Reduce Medicaid Drug Prices
Ahead of the midterm elections, the president said that all states had opted in to an effort to align Medicaid’s prices for medicines with those in other wealthy countries.
Billionaire Man United owner says he has lost confidence in the UK
Ineos founder Sir Jim Ratcliffe tells the BBC he thinks the country is "on the slide" and calls for more investment in the North Sea.
Who Is Howard Buffett, the New Berkshire Hathaway Chairman?
Mr. Buffett, 71, is succeeding his father, Warren, but will not be running the company’s day-to-day operations.
US stocks inch higher, but undermined by rising yields
US markets ended on Friday with mixed results, as elevated bond yields and high oil prices weighed on the market. The S&P 500 inched 0.2 percent higher after drifting between modest gains and losses for much of the day. The benchmark index also posted its second straight weekly loss. The Dow Jones Industrial Average slipped 0.2 percent, and the Nasdaq composite added 0.4 percent. All told, the S&P 500 rose 12.74 points to 7,650.50. The Dow dropped 95.40 points to 51,682.64, and the Nasdaq added 104.25 points to 26,552.55. The yield on the 10-year Treasury climbed to 5 percent from 4.94 percent late on Thursday after it topped the 5 percent level early this week for the first time since 2023. Yields have been climbing steadily since the pandemic knocked them nearly to zero in 2020. The price for a barrel of Brent crude, the international standard, rose nearly US$110 early this week, up from a little over US$70 in July. It briefly dropped below US$102 in overnight trading before settling at US$103.87. (AP) Edited by Robert Kemp
Three words from Kevin Warsh have Wall Street wondering how far the Fed will go with rate hikes
The chairman both explained this week's decision to raise interest rates, and raised vexing questions about what comes next