Warren Buffett’s Berkshire Hathaway has seen its Apple stake drop in value by $36 billion this year. The decline in worth exceeds Berkshire’s $31 billion cost base for the position. Apple stock has tumbled 24% this year on fears of an economic downturn and flagging iPhone demand. Loading Something is loading. Warren Buffett’s Berkshire Hathaway… Continue reading Warren Buffett’s Berkshire Hathaway has seen $32 billion wiped off its Apple stake this year – $1 billion more than it spent on the iPhone maker’s shares
Nike sinks 14% after the athletic-wear maker posts a 44% jump in quarterly inventory on supply-chain issues and warns on a margin squeeze
Nike shares dropped 14% on Friday as the company logged a 44% rise in fiscal first-quarter inventory. Supply-chain issues led to a build-up in seasonal products and retailers began ordering early. The company also said dollar strength will dent its full-year revenue. Loading Something is loading. Nike shares tumbled to their lowest price in more… Continue reading Nike sinks 14% after the athletic-wear maker posts a 44% jump in quarterly inventory on supply-chain issues and warns on a margin squeeze
Fluency’s CBDC technology meets all key ECB foundation design aspects for a digital euro
, /PRNewswire/ — The European Central Bank released on 29thSeptember 2022, their latest progress report on the investigation phase of their digital euro project and elaborates on foundational design features approved by the Governing Council. The report highlights key operational transfer mechanism requirements for the digital euro including: Online validation by third-partiesOffline functionality (where payee… Continue reading Fluency’s CBDC technology meets all key ECB foundation design aspects for a digital euro
US stocks fall on inflation data to cap steep losses for September and the 3rd quarter
Jason Ma Spencer Platt/Getty US stocks fell Friday, closing out steep losses for the week, month, and third quarter. The Fed’s preferred inflation gauge increased 4.9% in August from a year ago, up from 4.7% in July. For the third quarter, the S&P 500 gave up 6%, while the Nasdaq lost nearly 5%, and the… Continue reading US stocks fall on inflation data to cap steep losses for September and the 3rd quarter
The EU will try a ‘price corridor’ to rein in surging energy costs after talks to cap gas prices ended without an agreement
The EU will try to implement a “price corridor” as talks of a price cap on natural gas ended without an agreement. Just 15 of 27 nations approved the price cap, but the bloc needs unanimous approval to pass the measure. Opponents say that the price cap could prevent some nations from getting any gas… Continue reading The EU will try a ‘price corridor’ to rein in surging energy costs after talks to cap gas prices ended without an agreement
A $46 trillion wipeout in stocks and bonds won’t stop until central banks around the world launch a coordinated pivot, Bank of America says
A $46 trillion wipe out in stocks and bonds over the past year has led to forced liquidations on Wall Street, according to Bank of America.The bank doesn’t expect the bleeding to stop until the Fed launches a coordinated dovish pivot with other central banks. “Markets stop panicking when central banks start panicking but BoJ/BoE panics… Continue reading A $46 trillion wipeout in stocks and bonds won’t stop until central banks around the world launch a coordinated pivot, Bank of America says
Investors hoping for a pivot should be careful what they wish for as a rate cut at this point will be in response to an economic accident, Mohamed El-Erian warns
Investors who are hoping for a policy pivot should be careful what they wish for, Mohamed El-Erian warned. The top economist told Bloomberg TV that a rate cut at this point would be a response to a major shock. “And the journey to an economic accident and financial accident is a very painful journey.” Loading… Continue reading Investors hoping for a pivot should be careful what they wish for as a rate cut at this point will be in response to an economic accident, Mohamed El-Erian warns
S&P 500 closes at new low for 2022 and Dow falls 458 points as sell-off resumes on recession fears
Jennifer Sor Lucky-photographer/Shutterstock Major US indexes plunged Thursday after staging a relief rally in the prior session. UK prime minister Liz Truss stood by proposed tax cuts, despite a chorus of vocal critics. US Treasury yields hit multi-year highs this week as markets react to growing recession fears. Loading Something is loading. US stocks sank… Continue reading S&P 500 closes at new low for 2022 and Dow falls 458 points as sell-off resumes on recession fears
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