Over the course of 12 consecutive days, Berkshire Hathaway, the conglomerate chaired by Warren Buffett, has been steadily selling off Bank of America shares. The company shed a total of 19.2 million BofA shares for almost $779 million, with an average selling price of $40.52 per share. This sustained sell-off has now amassed total sales
The recent decision by the Bank of England to cut interest rates has had a significant impact on the mortgage market in the UK. Major high street lenders such as HSBC, Santander, and Nationwide have wasted no time in slashing their mortgage rates in response to the BOE’s decision. This move signals a potential easing
In the midst of a surge in interest and investment in artificial intelligence (AI), the semiconductor industry is experiencing a wave of changes and challenges. The earnings reports from various chip firms in the June quarter highlight the diverse impacts of AI on different companies within the sector. While some are reaping the benefits of
Singapore’s central bank, the Monetary Authority of Singapore, has taken action to address challenges in the city-state’s stock market. A task force has been established to evaluate measures aimed at improving the vibrancy of the Singapore equities market. Despite the Straits Times Index showing growth in recent years, Singapore’s stock market has faced issues such
Apple continues to impress with its fiscal third-quarter earnings, surpassing analysts’ expectations on both the top and bottom lines. The stock saw a slight increase in after-hours trading, reflecting investor confidence in the tech giant’s ability to deliver strong results. However, Apple will need to maintain this momentum in the face of stiff competition and
Jenny Hunnicutt decided to take her love for travel to the next level by embarking on a 274-night cruise around the world aboard Royal Caribbean’s Serenade of the Seas. This journey, which gained viral attention on TikTok, was a unique opportunity for Hunnicutt and her husband, both remote workers, to combine work and leisure in
Eli Lilly’s recent release of late-stage trial data on their weight loss drug, Zepbound, is making waves in the medical community. The findings from the study revealed significant benefits for patients with heart failure and obesity, shedding light on the potential of GLP-1 drugs beyond their traditional use. The study showed that patients who took
Wayfair, an online home goods company, recently reported a decline in sales in its fiscal second quarter. The company’s CEO, Niraj Shah, described the current slowdown in the home goods category as “unprecedented” and compared it to the 2008 financial crisis. According to Shah, the company’s credit card data indicates that the category correction now
Barclays recently reported a second-quarter net profit of £1.2 billion, which is slightly lower compared to the previous year. The lender’s net interest income in its core U.K. units experienced a decline, which impacted the overall profit. Analysts had expected a lower net profit of £1.03 billion for the period, and the actual figure surpassed
Bill Ackman’s Pershing Square USA recently made headlines by withdrawing plans for an initial public offering (IPO) after apparent lackluster investor demand. Originally, Ackman had ambitious plans to model his fund after Berkshire Hathaway, but those plans were put on hold due to the unmet expectations of potential investors. Despite the setback, Ackman remains determined