Economy
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Warren Buffett’s Berkshire Hathaway boosts stakes again in five Japan trading companies
Berkshire Hathaway said Monday it has again boosted its stake in five Japanese trading companies that the conglomerate’s storied leader Warren Buffett purchased two years ago. Berkshire’s BRK.A, -0.46% BRK.B, -0.44% stakes in Mitsubishi Corp. 8058, +0.25%, Mitsui 8031, +0.31%, Itochu, 8001, -0.57% Marubeni 8002, +0.22% and Sumitomo 8053, -0.52% now average more…
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Alibaba, other tech stocks drop as Goldman downgrades China growth forecast
Some of China’s biggest tech names fell on Monday, weighed by concerns the government may not provide enough stimulus with Goldman Sachs becoming the latest Wall Street bank to cut its growth forecasts for the world’s second-largest economy. Shares of video-sharing platform Bilibili Inc. 9626, -5.23% BABA, -0.11% slumped 5.2% in Hong Kong, while e-commerce…
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Intel to build $25 billion advanced chip plant in Israel, Netanyahu says
Intel Corp. plans to build a “huge and unprecedented” $25 billion advanced chip manufacturing plant in Israel, Prime Minister Benjamin Netanyahu announced Sunday. The agreement in principle would see a factory in Kiryat Gat open by 2027, according to a statement from Israel’s Finance Ministry. “This is the largest investment ever in the State of…
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‘I cannot accept this as an alternative for working families’: Americans could see big changes to their standard deduction
After becoming a mainstay for millions of Americans during tax season, the standard deduction’s rules and payout size are becoming a part of the brewing Capitol Hill debate over the future of the tax code. A new bill introduced by Republican lawmakers provides insight into what the tax code may look like in the coming…
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‘Wheel of Fortune’ host Pat Sajak is retiring after 40 years. Should you stay at a job that long?
Pat Sajak is leaving his role as host of the game show “Wheel of Fortune” next year, more than 40 years after he started — a career feat not many people can say they’ve achieved. Sajak, 76, tweeted the news on Monday night. “Well, the time has come,” he wrote. “I’ve decided that our 41st…
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How these gym instructors went from $50,000 in debt to being fiscally fit
Samantha and Michael Bahil had about $50,000 of car and student debt between them when they took out a $20,000 loan for their wedding. After the wedding, they wanted to buy a house but had no idea how. So, they got serious about paying off their debt. Now the fitness instructors are homeowners, and debt-free…
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The next step in California’s reparations push is ‘the most thrilling’ and Americans could see big changes to their standard deduction
Hi, MarketWatchers. Don’t miss these top stories. The next step in California’s reparations push is ‘the most thrilling’: turning proposals into reality Assemblyman Reggie Jones-Sawyer is adamant that something will come out of the reparations task force’s efforts, he said in an interview ahead of Juneteenth. UPS Teamsters members vote to strike if no contract…
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How U.S. financial markets have performed in the past 15 months as Fed rate hikes fueled wild swings
[]It’s been a roller-coaster ride for U.S. financial markets the past 15 months, after the Federal Reserve started its most aggressive monetary tightening campaign in four decades to tame inflation. []After 10 consecutive interest-rate hikes which took the benchmark fed-funds rate from near zero to a range of 5% to 5.25%, the Federal Reserve this…
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U.S. stocks end lower, but S&P 500 scores longest weekly win streak since 2021 after Fed pause
U.S. stocks ended down Friday without derailing the S&P 500 index and Nasdaq Composite from extending their long weekly win streaks. Investors cheered signs this week that the Federal Reserve’s interest rate hikes have helped to cool inflation, but have yet to drive the U.S. economy into a recession. How stock indexes traded The Dow…
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Bank lending falls for first time in a month, Fed says
Bank deposits fell slightly last week and lending also declined for the first time in a month, the Federal Reserve reported Friday, but there was little sign of major stress in the U.S. financial system. Total bank lending declined by $49 billion to $12.09 trillion in the seven days ending June 7, the Federal Reserve…