Berkshire Hathaway saw a significant surge in operating earnings, reporting a first-quarter profit of $11.22 billion, which is a 39% increase from the previous year. This increase was primarily driven by the rise in insurance underwriting earnings. Another key highlight of the earnings report was Berkshire’s record cash hoard, which reached $188.99 billion in the
Finance
When we look at the vast landscape of financial markets, there is an intriguing opportunity that has yet to be fully explored. According to Matt Kaufman from Calamos Investments, there is a massive pool of assets lying dormant in CDs and money market accounts, waiting to be tapped into by ETFs. Kaufman’s insights shed light
A situation involving a former Societe Generale trader, Kavish Kataria, has come to light recently. Kataria was dismissed from the bank’s Delta One desk last year for making unauthorized risky bets. However, Kataria believes that he was unjustly fired and has accused the French bank of making him a “scapegoat.” He claimed that the profits
Bitcoin, the world’s leading digital currency, experienced a significant drop on Wednesday, reaching its lowest level in over two months. This decline in price, with Bitcoin falling below $57,000 for the first time since February 28, was attributed to broader risk-off sentiment in markets. Investors were closely monitoring the upcoming interest rate decision by the
After beating both top and bottom-line expectations, Amazon’s shares rose by nearly 2% in extended trading. The company posted earnings of 98 cents per share on $143.31 billion in revenue, surpassing the forecasted earnings of 83 cents per share on $142.5 billion. However, Amazon’s second-quarter revenue forecast fell short of estimates, signaling a potential slowdown
Recently, local Chinese authorities decided to lift the restrictions on Tesla cars after the company’s China-made vehicles met the country’s data security standards. Tesla CEO Elon Musk’s visit to Beijing coincided with this development, as he unexpectedly met with Chinese Premier Li Qiang during the city’s first major auto show in four years. Despite being
When it comes to technology investing, ARK Invest’s chief futurist, Brett Winton, believes that there are five key areas that can give investors an edge. These areas, including robotics, artificial intelligence, multi-omics sequencing, public blockchain, and energy storage, are all entering the marketplace simultaneously. According to Winton, this convergence of technologies represents a unique moment
Chinese electric car start-ups Nio and Xpeng have decided to shift their focus to a lower-priced segment of the market by introducing newly branded cars this year. Nio’s CEO William Li disclosed that the company’s first mass-market car will be an SUV that is more affordable than Tesla’s Model Y, which starts at 249,900 yuan
Synthesia, a Nvidia-backed artificial intelligence firm, has introduced a groundbreaking technology that is set to revolutionize the video production industry. The company’s latest innovation, known as “Expressive Avatars,” enables users to create digital avatars that can convey human emotions simply by inputting text. This advancement in AI technology blurs the lines between the virtual world
U.S. prosecutors are pushing for a 36-month sentence for the former CEO of cryptocurrency exchange Binance on charges related to money laundering. This decision deviates from the recommended advisory guidelines, which suggest a sentence of 12 to 18 months. The prosecutors argue that a longer sentence is necessary to emphasize the severity of the offenses