Berkshire Hathaway: Warren Buffett further unwinds BYD investment in China

Berkshire Hathaway: Warren Buffett further unwinds BYD investment in China

hong kong CNN Business — Warren Buffett’s Berkshire Hathaway is continuing to unwind its long position in BYD, China’s largest home-grown EV maker and Tesla’s major rival, after holding it for 14 years. The legendary investor’s conglomerate sold another 3.2 million Hong Kong-listed shares of BYD (BYDDF) last week, cutting its stake to 15.99%, a … Read more

Investors have very little to be thankful for in 2022

Investors have very little to be thankful for in 2022

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. New York CNN Business — Americans are getting ready to celebrate Thanksgiving. But investors in the United States (and the rest of the world for that matter) don’t have much to be … Read more

Get ready for the most expensive holiday travel season ever

Get ready for the most expensive holiday travel season ever

New York CNN Business — For travelers getting ready to make their first holiday trips since before the pandemic: prepare for sticker shock. Airfares are way up. US gas prices are higher than they’ve ever been at this time of year. Rates for hotel rooms and rental cars have jumped 12% and 46% respectively from … Read more

Elon Musk’s $50 billion trial comes to an end today

Elon Musk’s  billion trial comes to an end today

Washington, D.C. CNN — The trial for the Tesla shareholder lawsuit examining CEO Elon Musk’s unprecedented compensation package will wrap up this afternoon. While it is possible that the judge could issue a ruling from the bench, it may be weeks or months before a ruling comes. Tesla awarded Musk a pay package in 2018 … Read more

Premarket stocks: Fed officials crushed investors’ hopes this week

Premarket stocks: Fed officials crushed investors’ hopes this week

New York CNN Business — Investors sleuthing for clues about what the Federal Reserve will decide during its December policy meeting got quite a few this week. But those hints about the future of monetary policy point to an outcome they won’t be very happy about. What’s happening: Federal Reserve officials made a series of … Read more

Global investors are bullish again on China as Beijing switches to damage control

Global investors are bullish again on China as Beijing switches to damage control

hong kong CNN Business — Market sentiment on Chinese stocks hit rock bottom just weeks ago after President Xi Jinping secured a historic third term in power and stacked his top team with loyalists in a clean sweep not seen since the Mao era. But in the past week, a series of unexpected steps by … Read more

Tom Brady and Gisele Bundchen named in lawsuit against FTX

Tom Brady and Gisele Bundchen named in lawsuit against FTX

New York CNN Business — The fallout from the spectacular implosion of crypto giant FTX has triggered a cascade of wide-reaching effects: It’s ensnared a number of celebrities who endorsed the now-bankrupt platform, and financial contagion is spreading across the vast crypto and digital-asset ecosystem. On Wednesday, the lending arm of crypto brokerage Genesis suspended … Read more

All eyes on the consumer ahead of Black Friday and the holidays

All eyes on the consumer ahead of Black Friday and the holidays

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. New York CNN Business — It has been a tough year for American consumers. Inflation everywhere. Rapidly rising interest rates. A housing market that is starting to cool off. That begs a … Read more

Elon Musk heads to court over Tesla pay that made him the world’s richest person

Elon Musk heads to court over Tesla pay that made him the world’s richest person

Washington, D.C. CNN — Tesla and CEO Elon Musk will spend this week in court to defend the massive compensation package that helped make him the world’s richest man. The week-long trial in Delaware Court of Chancery will examine the 2018 compensation plan that the automaker’s board of directors created for Musk. The automaker said … Read more

Taiwan’s virtual beauty brand struggles on Wall Street debut

Taiwan’s virtual beauty brand struggles on Wall Street debut

hong kong CNN Business — Taiwan’s latest entrant to Wall Street has had a rough ride since it went public a week ago. Shares of Perfect Corp., a software company that allows users to virtually try on makeup or jewelry from brands such as Estée Lauder, LVMH and Shiseido, have fallen more than 40% from … Read more