BUSINESS
Japan’s trading houses surge as Buffett's Berkshire looks to boost stakes
Warren Buffett’s conglomerate said in 2020 that it had invested in Japan’s five largest trading houses. Berkshire originally agreed to keep its holdings at the companies below 10%, but the trading houses have agreed to relax the ceiling “moderately,” Buffett said in a letter dated Feb. 22.
BUSINESS
Chinese ADRs tumble on Trump order, led by 10% plunge in Alibaba
The e-commerce firm’s American depositary receipts closed down 10%, the biggest decline since Oct. 2022. The Nasdaq Golden Dragon China Index tumbled 5.2%, with Bilibili Inc. and JD.com Inc. among stocks that slid more than 7%.
WORLD
Musk’s ‘what did you do’ email draws suit from federal unions
The demand by the world’s richest person is invalid because there were no rules or programs that require workers to provide such a report to the Office of Personnel Management, the unions said. They also contend that not all federal agencies were directing their workers to comply with the email.
BUSINESS
Apple, under threat from Trump tariffs, will add 20,000 US jobs
Apple will also expand data center capacity in Arizona, Oregon, Iowa, Nevada and North Carolina, all states with existing Apple capacity
BUSINESS
RedBird mulls selling stake in IPL cricket team Rajasthan Royals
RedBird, founded by former Goldman Sachs executive Gerry Cardinale, reportedly paid $37.5 million for 15% of Rajasthan Royals four years ago, valuing the franchise at $250 million.
WORLD
DBS CEO sees job cuts of 4,000 temp staff as AI replaces roles
Permanent staff will not be affected, the outgoing CEO said. DBS, based in Singapore, has around 41,000 staff and Tan Su Shan, currently deputy CEO, will succeed Gupta on March 28.
WORLD
Trump creates uncertainty for world’s most cited climate report
US government scientists participating in the IPCC’s global assessments were issued a stop-work order from the Trump administration
WORLD
Alibaba to Spend $53 billion on AI infrastructure in big pivot
The internet company co-founded by Jack Ma plans to spend more on its AI and cloud computing network than it has over the past decade
WORLD
Trump targets China with biggest salvo so far in second term
In recent days, President Donald Trump has rolled out a memorandum telling a key government committee to curb Chinese spending on tech, energy and other strategic American sectors.
BUSINESS
China central bank's policy flip-flop sows confusion over timing of rate cuts
The People’s Bank of China hasn’t cut interest rates in nearly half a year despite its most pro-easing stance in 14 years.
WORLD
US federal agencies tell workers to pause reply to Elon Musk's threat
The Pentagon and Department of Justice have told workers to pause on replying to the Trump administration’s email, citing potential legal pitfalls and agency autonomy
WORLD
German conservatives seal election, seeking coalition talks
The biggest potential points of friction between the CDU and SPD will likely be over social welfare spending, migration and expected state financing to fund massive outlays to bolster the defense sector.
MARKETS
Asian stocks fluctuate, dollar dips after US data
Benchmarks in Hong Kong and mainland China traded in tight range while a gauge of Asian equities edged lower after hitting a four-month high Friday
WORLD
Ukraine opposes size of minerals fund to pay back US war aid
There is currently no such a straightforward demand, but the lack of assurances of future military and financial aid remains a sticking point in the talks.
WORLD
Berkshire set to gradually raise stakes in Japan trading houses
The positive comments from the veteran investor will be in focus for traders when the Japanese market reopens on Tuesday following a public holiday.
WORLD
UK to announce new sanctions against Russia on Monday
The US engagement with Russia provoked alarm among European nations and Ukraine’s President Volodymyr Zelensky.
WORLD
Trump team pushes Mexico toward tariffs on Chinese imports
Mexican President has ramped up efforts to crack down on cheap imports from China, a move to appease Trump administration that’s threatening 25% tariffs on its North American trade partners.
WORLD
Dollar reprieve brings global funds back to emerging-Asia stocks
Investors are increasingly taking the view that the tariff threats announced by Trump are mainly negotiating tactics.
WORLD
Pope Francis is in critical condition, Vatican says
Francis was hospitalized after what doctors called an increasingly complex health issue.
BUSINESS
Berkshire Hathaway’s operating profit jumps as rates lift income
Operating earnings were $14.5 billion in the three months through December, Warren Buffett’s Omaha, Nebraska-based conglomerate said Saturday in a statement.
BUSINESS
Coinbase says SEC is close to dismissing enforcement case
The SEC sued Coinbase in June 2023 as part of a broad crackdown on the digital-asset industry in the aftermath of the collapse of crypto exchange FTX.
WORLD
Billionaire Perot sees 'big concern' on Trump tariff threats
“It’s inflationary and it’s confusing,” Perot said in an interview, adding that he remains a Trump supporter despite his concerns around tariffs because he thinks the new president will be good for business in the long run.
WORLD
DOGE staffer behind racist posts reinstated at Social Security
Marko Elez, who reportedly advocated for a “eugenic immigration policy” and argued against mixed-race relationships in posts on X, received support from Musk, President Donald Trump and Vice President JD Vance after his departure earlier this month.
WORLD
Behind Elon Musk's X turnaround: Pick-and-Choose financials
The company is talking to investors about a fresh equity fundraising that would catapult it back to the $44 billion valuation it had in 2022 when Musk purchased the platform then called Twitter.
