The stock of Bank of America took a hit, sliding 2% after a regulatory filing showed Warren Buffett’s Berkshire Hathaway continued to downsize its stake in the company. Berkshire sold 13.9 million more shares of the bank over the past three trading days, totaling $550.7 million. This downward trend in Berkshire’s stake raises questions about
The recent escalation of tensions in the Middle East has led to international airlines making significant adjustments to their services in the region. Concerns over a wider conflict have prompted airlines to suspend flights to certain destinations or to avoid affected airspace, impacting travel for passengers and disrupting airline schedules. One of the airlines affected
In a tragic turn of events, a luxury yacht named the “Bayesian” carrying 22 individuals, including British tech entrepreneur Mike Lynch and his daughter, was struck by a violent storm and sank off the coast of Sicily. The incident resulted in the death of one individual on board and left six people, including Lynch and
Alaska Airlines has successfully completed the regulatory investigation by the U.S. Justice Department regarding its acquisition of Hawaiian Airlines. This milestone marks a significant step towards the completion of the $1.9 billion deal between the two carriers. The Justice Department’s review period ended without any legal action to block the merger, clearing the way for
As stocks rallied on Monday, the commodity market saw a new high with gold reaching $2,549.90. This surge marked an 8 out of 9 session increase. Gold itself has seen a rise of 4.5% in the past nine days, while silver has performed even better with an 8.4% increase during the same period. The VanEck
California Governor Gavin Newsom recently signed 10 new bills into law designed to combat retail crime in the state. These laws target various aspects of retail crime, such as shoplifting, theft from vehicles, organized theft, and online marketplaces where stolen goods are resold. Retailers have raised concerns about the rising challenge of retail theft, affecting
In midday trading, Advanced Micro Devices (AMD) saw a gain of over 2% following the announcement of its plans to acquire server builder ZT Systems in a cash-and-stock deal worth $4.9 billion. This move is expected to strengthen AMD’s position in the market and expand its offerings in the server industry. HP shares dropped more
Waymo, a subsidiary of Alphabet, has recently announced the details of its latest “generation 6” self-driving technology. This new driverless tech, which is being integrated into Geely Zeekr electric vehicles, is expected to be capable of handling a wider range of weather conditions without the need for as many expensive cameras and sensors on board.
After a week of strong performances in global equities, Asian stocks appeared to be taking a breather on Monday. This followed expectations that the U.S. economy would avoid a recession and that cooling inflation would lead to a cycle of interest rate cuts. Federal Reserve members Mary Daly and Austan Goolsbee were vocal over the
Canada’s freight rail network is currently facing a looming crisis that could have a detrimental impact on the country’s economy. The two largest railroad operators in Canada, Canadian National Railway (CN) and Canadian Pacific (CP) Kansas City, have issued lockout notices to the Teamsters union, representing nearly 10,000 workers. If last-minute deals aren’t reached, these