Warren Buffett donated $6 billion in Berkshire Hathaway stock to five foundations, increasing his total donations since 2006 to roughly $60 billion. The largest recipient is the Bill & Melinda Gates Foundation Trust. This donation consists of nearly 12.4 million Class B shares. Buffett previously announced he'd cease...
The S&P 500 reached a new record high, recovering from a 20% loss. While earnings are strong and valuations slightly lower than in February, investor sentiment remains cautious. Increased speculation in certain stocks and a tepid mood among advisors contrast with the market's rise. The rally may...
Canada's economy is suffering from the uncertainty caused by fluctuating US tariffs on Canadian goods. Businesses, particularly small ones, are struggling to plan due to unpredictable changes. While the US and Canada are in talks for a new trade deal, recent pronouncements from President Trump have further unsettled...
Major US banks successfully passed the Federal Reserve's annual stress tests, demonstrating resilience against a hypothetical severe economic downturn. The tests, though simulating a significant recession with 10% unemployment and major market declines, showed smaller capital hits than in previous years. Analysts predict increased dividends and share buybacks...
US stock markets reached all-time highs on Friday, with the S&P 500 closing at 6,173.07 and the Nasdaq also hitting a record. This follows a remarkable recovery from near bear market territory in April. While President Trump's announcement of ending trade talks with Canada briefly impacted the market,...
The US Treasury Department and Congress have scrapped a controversial "revenge tax" (Section 899) within the Republican's budget bill. This tax, designed to retaliate against perceived unfair global taxes on US companies, had alarmed Wall Street and international businesses. Treasury Secretary Scott Bessent negotiated a deal with G7...
Nike's shares surged after announcing a shift of some production from China to mitigate tariffs, despite warning of roughly a $1 billion cost from Trump-era tariffs. These tariffs will lead to price increases starting this fall. This follows similar announcements from Walmart. Nike aims to reduce Chinese footwear...
Global markets surged to record highs fueled by optimism surrounding trade deals and anticipated Federal Reserve interest rate cuts. Asian stocks saw significant gains, reaching their highest point since September 2021, mirroring positive momentum from the US markets. The S&P 500 approached a record high, while the Nasdaq...
Nike's shares surged over 10% in after-hours trading despite reporting its worst quarterly earnings in over three years. CEO Elliott Hill, back from retirement, highlighted a turnaround plan focusing on core sports products, particularly running, showing signs of improvement. While Q4 revenue surpassed expectations at $11.1 billion, it was...
The "Made in the USA" label has disappeared from the Trump Organization's website promoting its new T1 phone, despite claims it will be American-made. While the company now emphasizes an "American-Proud Design" and states the phone is assembled in the US, experts previously doubted the feasibility of building...
