The upcoming Federal Reserve meeting holds significant importance not only for the present economic scenario but also for the future course of action by policymakers. While the short-term interest rates are expected to remain steady, there are indications that interest rate cuts may be on the horizon. The key focus will be on how the
Finance
Berkshire Hathaway, under the leadership of CEO Warren Buffett, is on the brink of amassing a mammoth cash pile that could cross the $200 billion threshold. This amount is said to surpass the annual gross domestic product of Hungary, signifying the enormity of the conglomerate’s financial reserves. The anticipated announcement of Berkshire’s second-quarter earnings is
Berkshire Hathaway, the conglomerate led by Warren Buffett, has seen its cash pile swell to a record-breaking $276.9 billion in the last quarter. This significant increase from the previous record of $189 billion set in the first quarter of 2024 can be attributed to Buffett selling off large portions of stock holdings, including a substantial
The Monetary Authority of Singapore (MAS) recently established a task force with the aim of evaluating measures to enhance the vibrancy of the Singapore equities market. This move comes in response to the long-standing issue of thin trading volumes and more delistings than listings in the city-state’s stock market. Despite the Straits Times Index showing
Apple shares saw a slight increase in extended trading after the company reported fiscal third-quarter earnings of $1.40 per share, exceeding the $1.35 per share estimate by analysts. The revenue also surpassed the Street’s estimates, coming in at $85.78 billion. This positive performance by Apple demonstrates the company’s ability to outperform expectations in a challenging
The Federal Reserve officials decided to maintain short-term interest rates on Wednesday with no indication of an imminent reduction. Despite concerns about economic conditions, they did acknowledge progress in reaching their employment and inflation goals. Inflation, although slightly elevated, has shown signs of improvement. This cautious approach suggests that rate cuts may be on the
The recent approval of a new law in Russia allowing the use of cryptocurrency for international payments marks a significant shift in the country’s financial landscape. The State Duma, Russia’s lower house of parliament, made the decision in response to ongoing pressure from Western sanctions. This move, spearheaded by Anatoly Aksakov, the head of the
Warren Buffett’s Berkshire Hathaway has been on a selling streak, reducing its stake in Bank of America for nine consecutive days. This suggests that the conglomerate is not just trimming its longtime holding, but potentially shifting its investment strategy. Over the past nine trading sessions, Berkshire has sold a total of 71.2 million shares of
This week marks a significant milestone in the cryptocurrency markets as spot ether exchange-traded funds make their debut. Among the nine spot ether ETF applicants that received approval from the Securities and Exchange Commission on Tuesday is Franklin Templeton. The firm launched the Franklin Ethereum ETF (EZET), which has experienced a decline of about 10%
Warren Buffett’s Berkshire Hathaway has been steadily reducing its stake in Bank of America over the past six straight trading days. The conglomerate sold an additional 18.9 million shares over a period of Monday, Tuesday, and Wednesday, at an average price of $42.46, generating $802.5 million in proceeds. This recent sell-off follows the sale of