Breaking News: Business
The $275 billion question: Who handles Berkshire’s stock portfolio after Warren Buffett
As the shock of Warren Buffett’s exit settles in, one question about the succession has become the elephant in the room — Who will handle Berkshire Hathaway’s $275 billion portfolio of stocks? The legendary, 94-year-old investor is stepping down as chief executive officer at the end of 2025 after an epic 60-year run, but will […]
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Comcast’s Xfinity Mobile takes over naming rights of Philadelphia arena
Igor Golovniov | Lightrocket | Getty Images The Philadelphia home of the NBA’s 76ers and NHL’s Flyers is getting a new name. Beginning in September the sports and entertainment venue in South Philadelphia will be named the Xfinity Mobile Arena, rebranding from the current Wells Fargo Center. The new name will remain through the 2030-2031 […]
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Paul Tudor Jones says stock market will hit new lows even if Trump cuts China tariffs to 50%
Key Points “We’ll probably go down to new lows, even when Trump dials back China to 50%,” Jones told CNBC’s “Squawk Box.” The widely followed investor’s bearish comments came after Trump’s rollout of the highest levies on imports in generations shocked the world last month, triggering extreme volatility on Wall Street. Source
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Mattel CEO says toy manufacturing won’t come to America, but price hikes will
One of the goals of President Donald Trump’s 145% tariffs against China is to drive manufacturing back to America. But the odds of that are low, at least when it comes to toys. “We don’t see that happening,” Mattel CEO Ynon Kreiz said on CNBC’s “Squawk Box” Tuesday, less than a day after the company […]
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Doordash announces $1.2 billion SevenRooms deal, misses revenue expectations
A DoorDash sign is pictured on a restaurant on the day they hold their IPO in New York, December 9, 2020. Carlo Allegri | Reuters Doordash on Tuesday announced the $1.2 billion acquisition of restaurant booking platform SevenRooms and reported first-quarter revenue that missed expectations. Shares fell about 4% following the news. Here’s how the […]
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Hispanic shoppers are spending less on groceries, putting pressure on consumer companies
Miami, Hialeah Gardens, Florida, Walmart Supercenter, checkout line cashier, customers paying. Jeff Greenberg | Universal Images Group | Getty Images Hispanic consumers are cutting back their grocery spending on everything from beer to cooking spray, executives said during recent earnings calls. Coca-Cola, Constellation Brands and Colgate-Palmolive are among the companies that have reported a slowdown […]
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Fashion retailer Hugo Boss shares pop 5% on better-than-feared first-quarter sales
A Hugo Boss store in Berlin, Germany, on Tuesday, April 25, 2023. Bloomberg | Getty Images Shares of Hugo Boss jumped on Tuesday after it posted a lower-than-feared decline in first-quarter sales and reiterated its full-year guidance despite macroeconomic and tariff uncertainty. The high-end German retailer said revenues fell 2% on a currency adjusted basis […]
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Temu and Shein face massive tariffs. But don’t count them out of the U.S. e-tail scene, experts say
Photo illustration of the Shein app on the App Store reflected in the Temu logo. Stefani Reynolds | Afp | Getty Images The closure of a trade loophole and prohibitive tariffs on China have upended Temu and Shein’s business model in the United States. And yet the e-commerce companies are likely to remain a dominant […]
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Hims & Hers gives weak outlook but says more collaborations are coming
Shares of Hims & Hers Health fell in extended trading on Monday after the company reported first-quarter earnings that beat analysts’ expectations but offered weaker-than-expected guidance. Here’s how the company did based on average analysts’ estimates compiled by LSEG: Earnings per share: 20 cents vs. 12 cents Revenue: $586 million vs. $538 million Revenue at […]
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Air traffic controllers couldn’t see or talk to planes in equipment failure that led to Newark meltdown
People wait in line for a delayed flight at Newark International Airport on May 5, 2025 in Newark, New Jersey. Spencer Platt | Getty Images Air traffic controllers lost contact with aircraft heading to and from Newark Liberty International Airport last week, their union said, detailing an equipment failure that led to massive flight delays […]
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