Warren Buffett’s Berkshire Hathaway made history by becoming the first non-technology company in the U.S. to reach a market capitalization of $1 trillion. This milestone was achieved after the company’s shares rallied over 28% in 2024, outperforming the S&P 500’s gain of 18%. The significance of this achievement is heightened by the fact that it
China’s housing market has been experiencing significant challenges, with little relief in sight. Despite various government efforts to stimulate the sector, the results have been far from satisfactory. JPMorgan’s chief China economist, Haibin Zhu, has expressed concerns that the housing market crash is far from over and that stability may not be achieved until 2025
Nvidia, a leading technology company, experienced a dip in its shares during premarket trading in the U.S. due to its fiscal second-quarter gross margin slipping slightly and falling short of high market expectations. While the company reported an impressive revenue beat in the July quarter, with over $30 billion in revenue, a 122% increase year-on-year,
Ulta Beauty faced a setback in its second-quarter performance, causing its shares to fall by 7% in extended trading. The company fell short of expectations and trimmed its full-year guidance due to a decline in same-store sales during the most recent period. This marks Ulta’s first earnings per share miss since May 2020 and its
REA Group, a property listings company owned by media mogul Rupert Murdoch’s News Corp, made waves in the real estate industry by announcing its contemplation of a takeover offer for the U.K. property portal Rightmove. The move is seen as a strategic step towards creating a global digital real estate business, with REA Group eyeing
As per recent research conducted by Bank of America, travel spending among American households has risen significantly, surpassing pre-pandemic levels. The surge in travel spending is mainly attributed to a growing interest in international trips. Economists Taylor Bowley and Joe Wadford point out that vacationing abroad has become a key driver of travel momentum, leading
According to British fund manager abrdn, there is a prediction that the U.S. economy will experience a soft landing. However, Kenneth Akintewe, the company’s head of Asian sovereign debt, warns of the risk of a prolonged slowdown in 2025. He questions whether the Federal Reserve is making a policy mistake by potentially overlooking key economic
China’s long-awaited foray into the world of top-tier video games has finally arrived with the groundbreaking success of Black Myth: Wukong. This action-packed game, deeply rooted in mythological China, shattered world records by selling over 10 million units within just three days of its launch on Aug. 20. Surging to the second rank by revenue
Thursday saw the S&P 500 rise by 0.7%, despite Nvidia’s decline after their impressive earnings report. Nvidia’s stock tumbled 3.5% due to falling short on analysts’ expectations for their full-year outlook on gross margins. Jim Cramer referred to Nvidia’s chief executive as the “mortal Jensen Huang” following the company’s earnings call. While he maintains a
As the Federal Reserve considers cutting interest rates, there is uncertainty surrounding the future of the U.S. economy. With the possibility of a recession on the horizon, those approaching retirement are facing heightened concerns about the security of their retirement savings. Anne Lester, author of “Your Best Financial Life,” emphasizes the importance of having a