Warren Buffett’s Berkshire Hathaway just made headlines with its huge investment in U.S. Treasury bills, surpassing even the Federal Reserve’s holdings. In the first half of the year, Berkshire scooped up $230 billion in these low-risk, short-term securities, making it a major player in this investment arena. Despite his usual
China is making a big shift in its economy to protect itself from global problems like wars and pandemics. Under Xi Jinping’s leadership, the country is focusing on becoming more self-reliant and less dependent on international trade. This strategy, called the “fortress economy,” aims to strengthen China’s internal industries and
The world now has 15 million millionaires, more than the population of Rwanda. The U.S. leads with nearly 5.5 million millionaires, outnumbering Ireland’s entire population. In just 10 years, U.S. millionaires have surged by 62%, holding over a third of the global millionaire total. China and Germany also have impressive
Russia is making big moves in the Arctic, expanding its oil and gas operations despite global sanctions from its invasion of Ukraine. A new 300-foot extension to a massive hangar in the Arctic highlights Russia’s push to use the Northern Sea Route (NSR) for shipping oil and gas to China.
In the summer of 1991, Bill Gates and Warren Buffett bonded over a marathon conversation at a family getaway, sparking a deep friendship that saw them become iconic philanthropic partners. Their bond led Buffett to donate billions to Gates’ foundation, shaping global philanthropy. However, recent years have revealed cracks in
A new set of accounting rules was designed to make banks recognize credit losses earlier, but recent events suggest it might not be working as planned. Despite the changes, commercial real estate loans are showing troubling signs of trouble, with a massive $1.5 trillion in loans coming due soon. Office
New York, California, and Texas boast the richest suburbs in the U.S., with Scarsdale, NY, leading the pack. Scarsdale’s average household income is a staggering $568,942, and home values exceed $1.4 million. Close behind is Rye, NY, with homes often valued over $2 million. Texas’s West University Place and California’s
Warren Buffett, known for his smart investments, is causing a stir by not buying stocks and instead hoarding a massive $189 billion in cash, leading many to worry he’s bracing for a market disaster. Buffett’s recent move of selling off a huge chunk of Apple stock—once a cornerstone of his
Massachusetts is facing a major financial crisis as the cost of its emergency shelter system is set to exceed $1 billion in the coming years. Governor Maura Healey’s administration has updated its budget estimates, revealing that the state will likely spend more on emergency shelters than initially planned. Over the
