Author: News Room

Warren Buffett’s Berkshire Hathaway slashed its stake in tech giant Apple by nearly 50%, according to Berkshire’s second quarter earnings report released on Saturday. Berkshire Hathaway disclosed its holdings in Apple were valued at $84.2 billion at the end of the quarter, dropping from 790 million shares to 400 million shares. The sharp selloff is notable for Buffett, who is known for holding onto stocks for long periods of time. Apple did not respond to CNN’s request for comment. Berkshire Hathaway has previously downsized its stake Apple, which has a market cap over $3.3 trillion. In the final three months…

At age 12, Bella Lin spent an hour every week “scraping, scrubbing and power washing” excrement off her two guinea pig cages.”It was essentially a [mini] porta potty,” Lin, now 17, tells CNBC Make It.The experience was taxing and gross enough to prompt Lin to design her own cages: first on notebook paper, then with bricks and plastic in her backyard in Sunnyvale, California and now in a factory in Hangzhou, China.Lin is the founder and CEO of GuineaLoft, a small pet accessory brand that sells on Amazon. GuineaLoft’s cages are made with acrylic walls and a disposable wax-coated paper…

It’s a July for the record books.State Street Global Advisors finds inflows into exchange-traded funds hit $127 billion. Not only was it the best July ever, but the firm’s head of SPDR Americas research notes it is also the second-largest monthly inflow ever.”Part of it is just the market,” Matt Bartolini told CNBC’s “ETF Edge” on Thursday. “We see investors deploy cash from the sidelines. A lot of cash was built up over the years. We started to see investors really make a concerted effort to continue to buy into this rally. We also saw sort of broadening in the…

A Tiktok trend is encouraging people to save more money. It’s called the ‘no-buy year.’ The rules are simple. Make a list of the non-essential items you will not spend money on for a set length of time and stick to it.  Many people start at the beginning of the year, but some try the challenge for just a month since it could be difficult for a whole year. Some are paying off tens of thousands of dollars in debt. “I’ve been on a debt-free, no-buy year journey since January 1, 2023. On May 3, 2024, 488 days later, I’ve paid off…

Between commission fees and moving costs, home sellers said they spent more than expected to secure a home sale this year, according to a Clever Real Estate survey. On average, sellers spent $54,616 to sell their homes, with 42% reporting that the costs exceeded their expectations, the survey said. The biggest expense was on listing agent and buyer’s agent commission fees. Sellers spent an average of $21,603 on these fees in addition to $10,000 on repairs, $8,000 on closing costs and $7,200 on concessions. Moving expenses added an extra $3,250 to the bill. Sellers also spent an average of $4563…

Former president Donald Trump’s plan to repeal the tax on Social Security benefits would lower taxes for US households by an average of $550, according to a new analysis by the Tax Policy Center. But that tax cut would come with a big price: By reducing Social Security and Medicare hospital insurance (HI) revenues by $1.5 trillion over the next decade, Trump would drive both programs into insolvency faster, resulting in sharply reduced benefits for tens of millions of recipients. Winners And Losers TPC estimated that lower-income households would get little or no benefit from the tax cut in 2025.…

Expert debunks Trump campaign’s tweet about ‘foreign-born’ Americans CNN Economics and Political Commentator Catherine Rampell debunks a tweet posted by former President Donald Trump’s campaign regarding immigrant unemployment numbers in the US. Read the full article here

A global stock sell-off deepened on Friday, with the Nasdaq falling into a correction, as a sharp slowdown in US hiring piled pressure on an equity market already reeling from a steep downturn in semiconductor shares.A sharp slowdown in US hiring sparked fears the Federal Reserve risked falling behind the curve in combating a slowing economy, Data showed the world’s biggest economy added 114,000 jobs in July, far fewer than the 175,000 that were expected.The Nasdaq Composite index closed 2.4 per cent lower, down 3.4 per cent for the week. Since its all-time high on July 11, the Nasdaq has…

WBA stock: my worst investment in 20+ years If you have been following my writing, you would know that I have made a pretty bad call on Walgreens Boots Alliance, Inc. (NASDAQ:WBA). I have been betting on its turnaround in the past 1~2 years, as you can see from my rating history shown in the chart below. Take my most recent article as an example. That article was published on March 15, 2024, and titled “Walgreens Q2, Dow Exit, And Bet Against Wall Street.” In that article, I argued that: Sentiment surrounding Walgreens Boots Alliance has reached a negative extreme…

Google has pulled its controversial Olympics ad after critics blasted it for portraying what they called a bleak application of artificial intelligence. The ad showed a father using Google’s Gemini AI chatbot to help his daughter write a fan letter to US Olympic track star Sydney McLaughlin-Levrone. But many online questioned why Google would want to replace a child’s creativity with words written by a computer. Google initially defended the ad, which ran during breaks from the Olympics, saying it showed how Gemini could provide a “starting point” for a piece of writing. But on Friday, the company reversed course.…