Berkshire Hathaway, under the wise leadership of CEO Warren Buffett, is on the verge of achieving a milestone that could shake the financial markets. The company’s cash pile is set to exceed $200 billion, surpassing the entire annual gross domestic product of Hungary. This impending feat comes amidst a rare move by Buffett to sell
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Google recently faced backlash over its Olympics ad for the chatbot Gemini, which depicted a little girl using artificial intelligence to write a fan letter. The ad, titled “Dear Sydney,” raised concerns about the promotion of automation over authenticity, especially when it comes to creative tasks involving children. Let’s delve deeper into the implications of
The U.S. dollar plummeted to a four-month low after a disappointing employment report for July, which indicated that employers added 114,000 jobs, falling short of expectations for an increase of 175,000. The unemployment rate also rose to 4.3%, exceeding economists’ forecast of 4.1%. This data has raised concerns about an economic slowdown, leading to expectations
The 2024 Paris Olympics are not just about the mainstream sports like track and field or basketball. This year, lesser-known sports and women’s teams are receiving a significant boost in funding. From women’s rugby sevens to water polo and women’s track and field, various individuals are stepping up to support these athletes and teams. This
In Burbank, California, video game voice actors and motion-capture performers took a stand by holding their first picket in front of Warner Bros. Games. The key concern for these performers is the threat that artificial intelligence poses to their professions. According to Leeanna Albanese, a voice actor and strike captain, the models used in the
The Bank of England made a historic decision to cut interest rates from a 16-year high in a tight 5-4 vote by its policymakers. This move was led by Governor Andrew Bailey, who emphasized the need for cautiousness in the face of uncertainty. The reduction of rates by a quarter-point to 5% marked the first
Hershey’s stock saw a significant drop of 7% in premarket trading after the company’s second-quarter results fell short of analyst expectations. Despite earning $1.27 per share on revenue of $2.07 billion, the company missed the projected profit of $1.43 per share on revenue of $2.31 billion. This decline was attributed to consumers pulling back on
Eli Lilly’s weight loss drug Zepbound has shown promising results in patients with a common type of heart failure and obesity, based on late-stage trial data released by the company. The findings suggest that Zepbound, along with other popular GLP-1 drugs, may have health benefits beyond weight loss and blood sugar regulation. This could potentially
Moderna, a prominent biotech company, recently reported second-quarter revenue that exceeded expectations. However, the company decided to reduce its full-year sales guidance due to various factors such as lower expected sales in Europe, a competitive environment for respiratory vaccines in the U.S., and the potential for deferred international revenue into 2025. The company now anticipates
In an unprecedented move, a Chinese property developer in Nanjing is returning the deposits paid by homebuyers for apartments in a project that could not be completed. The initiative, coordinated by local authorities, marks the first of its kind in China and has the potential to set a precedent for other cities and developers facing
Billionaire investor Bill Ackman made the surprising decision to cancel the launch of Pershing Square USA just days before it was scheduled to begin trading on the New York Stock Exchange. This move came after he had downsized the initial public offering (IPO) plans twice in a single week due to various issues. Ackman cited
The Federal Reserve recently made the decision to leave interest rates untouched, despite acknowledging progress in key economic indicators. The Federal Open Market Committee (FOMC) decided to keep the benchmark rate within a range of 5.25% to 5.5%. This decision comes after a period of keeping rates steady, allowing time for data assessment to inform
As of Tuesday, the recall of Boar’s Head products has escalated to encompass a staggering 7 million additional pounds of deli and poultry items in a fatal multistate epidemic of listeria. This outbreak has afflicted 34 individuals in 13 states, resulting in 33 hospitalizations and two deaths in Illinois and New Jersey. The deli meat
The Federal Reserve is poised to keep interest rates steady following a two-day policy meeting, with indications pointing to the possibility of a cut in borrowing costs in the near future. Investors are optimistic about a rate reduction occurring at the September 17-18 meeting, with discussions revolving around whether the Fed will opt for a