BUSINESS

BUFFETT'S CASH PILE TOPS $325 BILLION AMID APPLE SALES AND DECLINING OPERATING PROFITS AT BERKSHIRE HATHAWAY

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Warren Buffett's Berkshire Hathaway has dramatically reshaped its investment portfolio in Q3 2024, accumulating a record $325.2 billion in cash while significantly reducing positions in key holdings. The conglomerate's aggressive selling strategy, particularly of Apple shares, signals a notably cautious stance in current market conditions.

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HSBC UNVEILS $3 BILLION SHARE BUYBACK FOLLOWING STRONG Q3 PROFIT REPORT OF $8.5 BILLION

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HSBC Holdings has exceeded market expectations with a robust third-quarter performance, announcing a $3 billion share buyback program as newly appointed CEO Georges Elhedery sets the stage for a transformative reorganization of the 159-year-old banking giant.

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HELLO KITTY CELEBRATES 50 YEARS OF SPREADING "KAWAII" AROUND THE WORLD

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On Friday, one of Japan's most iconic characters, Hello Kitty, celebrated her 50th birthday. Created by Sanrio in 1974, Hello Kitty, also known as Kitty White, began her life as a "kawaii" (cute) character on a coin purse and evolved into a global cultural phenomenon, charming fans with her cheerful appearance and wholesome spirit.

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VOLKSWAGEN TO CLOSE 3 MAJOR PLANTS IN GERMANY, CUTTING 3,000 JOBS

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Volkswagen, Europe's largest automaker, is facing a reckoning in its home market of Germany. In a move that marks a historic shift for the company, Volkswagen has announced plans to shut down at least three factories in Germany and lay off tens of thousands of workers as part of a major cost-cutting and restructuring effort.

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SALES FALL BY 27% AT CARMAKER STELLANTIS

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Stellantis, the carmaker which owns the Jeep, Peugeot and Fiat brands, said Thursday that its sales fell 27 percent in the third quarter because of market difficulties in North America.

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US FINES APPLE AND GOLDMAN SACHS OVER APPLE CARD

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On Wednesday, the United States imposed an $89 million fine on Apple and Goldman Sachs, accusing them of misleading users of Apple's credit card.

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CHINESE EV GIANT BYD BEATS TESLA IN QUARTERLY REVENUE

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Chinese electric vehicle giant BYD reported surging sales on Wednesday, surpassing global rival Tesla in quarterly revenue for the first time as its push into overseas markets advances.

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HSBC SPLITS INTO EAST AND WEST DIVISIONS IN MAJOR OVERHAUL, APPOINTS FIRST FEMALE CFO AMID COST-CUTTING DRIVE

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HSBC is fundamentally reshaping its global operations, dividing into eastern and western divisions while appointing its first female CFO in its 159-year history. The sweeping changes come just six weeks into Georges Elhedery's tenure as CEO.

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