Warren Buffett’s Berkshire Hathaway has been on a selling spree when it comes to Bank of America shares. Over the course of 12 consecutive days, the conglomerate has unloaded a total of 19.2 million BofA shares, raking in close to $779 million at an average selling price of $40.52 per share. This move has pushed
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In an effort to enhance the vibrancy of Singapore’s stock market, the Monetary Authority of Singapore has established a task force to review and evaluate measures aimed at addressing market challenges. The goal is to foster listings, facilitate market revitalization, and enhance regulations to promote market growth and increase investor confidence. The task force will
The recent earnings reports of various semiconductor companies have shed light on the intricacies of the industry amidst the current boom in artificial intelligence. While some companies have exceeded expectations, others have disappointed investors, showcasing the varied impact of AI on different players in the sector. Tech giants such as Meta and Microsoft are heavily
In extended trading, Apple saw its shares inch higher after beating analysts’ estimates on both the top and bottom lines. With fiscal third-quarter earnings of $1.40 per share, surpassing the expected $1.35, and revenue totaling $85.78 billion, Apple proved to be a winner in this round of trading. On the other end of the spectrum,
Eli Lilly’s weight-loss drug, Zepbound, has shown promising benefits in patients suffering from a common type of heart failure and obesity. The late-stage trial data released by the company indicates that Zepbound, along with other popular GLP-1 drugs, may have additional health benefits beyond weight loss and blood sugar regulation. This could potentially lead to
Jenny Hunnicutt, a Florida-based writer and consultant, embarked on a 274-night cruise aboard Royal Caribbean’s Serenade of the Seas. Her journey quickly went viral on TikTok, showcasing a unique opportunity for remote workers in a post-pandemic world. With an increasing number of people opting for a remote lifestyle, working from a cruise ship has become
Online home goods giant, Wayfair, has faced a significant sales decline in its fiscal second quarter, with its CEO describing the situation as “unprecedented” and drawing parallels to the 2008 financial crisis. The company’s credit card data indicates that the current correction in the home goods category mirrors the magnitude of the decline experienced during
Barclays reported a second-quarter net profit of £1.2 billion, slightly down from the previous year. Despite this, the lender’s revenue exceeded expectations, reaching £6.3 billion. The net interest income in the core U.K. units of Barclays experienced a decline, particularly in the consumer bank sector, where it dropped by 4% year-on-year. However, the investment bank
Bill Ackman’s Pershing Square USA faced a setback in its initial public offering plans after investor demand appeared to fall short of original expectations. The hedge fund titan, Bill Ackman, announced the withdrawal of the IPO, but reassured investors that he would be back with a revised plan for the offering. Ackman had initially aimed
The recent decision by Federal Reserve officials to keep short-term interest rates steady has sparked conversations about the possibility of future interest rate cuts. While maintaining language in the post-meeting statement that indicates ongoing concerns about economic conditions, the Federal Open Market Committee hinted at progress being made towards achieving its employment and inflation goals.