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‘Our position is clear:’ Zelenskyy and EU dismiss ceding Ukrainian land to Russia

3 Mins Read

Ukrainian President Volodymyr Zelenskyy reiterated on Sunday that Kyiv will not surrender any territory to Moscow, pushing back against mounting international speculation about potential land-for-peace negotiations. 

‘The constitution of Ukraine makes it impossible to give up territory or trade land,’ Zelenskyy said during a press conference at the European Commission on Sunday. 

He added that Russia has repeatedly tried and failed to seize the entirety of the Donbas region in eastern Ukraine for a period of 12 years. The Donbas, which includes Donetsk and Luhansk oblasts, is an industrial hub, with coal mining and steel production central to Ukraine’s economy.

‘Since the territorial issue is so important, it should be discussed only by the leaders of Ukraine and Russia at the trilateral [talks with] Ukraine, United States, Russia,’ Zelenskyy said.

The Ukrainian leader, who spoke alongside EU Commission President Ursula von der Leyen, said that so far the Kremlin has ‘given no sign that the trilateral will happen.’ 

‘With regards to any territorial questions in Ukraine, our position is clear: international borders cannot be changed by force. These are decisions to be made by Ukraine and Ukraine alone, and these decisions cannot be taken without Ukraine at the table,’ von der Leyen said.

Their remarks came after Russian President Vladimir Putin’s meeting with U.S. President Donald Trump in Alaska on Friday, during which the Russian leader outlined conditions for ending the war, including demands for control over parts of eastern Ukraine.

Following the meeting with the Russian leader, Trump signaled that Zelenskyy should take Putin’s deal to end the war because ‘Russia is a very big power’ and Ukraine is not. Still, SSecretary of State Marco Rubio dismissed claims that Trump would pressure Zelenskyy to give up large swaths of its sovereign land to Russia.

‘The president has said that in terms of territories, these are things that Zelenskyy is going to have to decide on,’ Rubio told Maria Bartiromo on Fox News’ ‘Sunday Morning Futures.’

‘All the president is trying to do here is narrow down the open issues,’ Rubio said, adding that Trump is focused on ending the Kremlin’s war in Ukraine.

‘You can’t have a peace deal between two warring factions unless both sides agree to give up something. And both sides agree that the other side gets something. Otherwise, if one side gets everything they want, that’s not a peace deal. It’s called surrender. And I don’t think this is a war that’s going to end anytime soon. On the basis of surrender,’ Rubio said.

Zelenskyy said he hopes the upcoming meeting with European allies and Trump ‘will be productive,’ contrasting it with the heated Oval Office exchange during his February visit.

This post appeared first on FOX NEWS

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In Stocks

Top catalysts for DAX Index and best stocks of 2025 revealed

4 Mins Read

The DAX Index remained in a tight range in the past few weeks s most of its constituent companies published stronger-than-expected financial results. It was trading at €24,360, a few points below the year-to-date high of €24,635. This article looks at the top-gainers this year.

Key catalysts for the DAX Index this year

There were several key catalysts for the German DAX this year. First, market participants reacted to the recently announced deal between the US and the European Union.

This deal will see European companies pay a 15% tariff to the US, a move that will affect some of the biggest constituent companies. Porsche, which is partly owned by Volkswagen Group, will be the most affected because it counts the US as the most important market.

The most recent results showed that its European and Chinese businesses slowed, while the US one continued to accelerate. Porsche makes its vehicles in the United States.

The DAX Index also reacted to the actions by the European Central Bank (ECB). Unlike the Federal Reserve, the bank delivered several interest rate cuts this year, bringing the official cash rate to 2%.

In theory, falling ECB interest rate cuts should lead to lower bond yields, attracting investors to equities. Recently, however, German bonds have continued to sell off, with the ten-year rising to 2.78%, its highest point since March 24 this year.

The DAX was also moved by the robust government spending after the parliament voted for a €500 bilion spending package. 

DAX Index chart | Source: TradingView

Top DAX Index gainers of this year

The Rheinmetall share price has surged by over 112% this year, making it the best performer in the DAX Index. Its surge happened as the German government boosted its defense spending as the war in Ukraine continued.

With the US taking a tough stance against Europe, the governments have embarked on the modernization of their defence bases by focusing on European companies. 

The most recent results showed that its group sales jumped by 24% to €4.7 billion, with its defence segment growing by 36%. Its backlog jumped to a record high of €63 billion, up from €63 billion in the same period last year. 

Commerzbank share price jumped by 138% this year, helped by the ongoing accumulation by Unicredit, the giant Italian bank and the ongoing surge in European bank stocks. 

Unicredit has hinted that it would launch an acquisition bid either this year or in 2026. The risk, however, is that Commerzbank has become a highly overvalued company as it has jumped by almost 200% in the last 12 months.

Siemens Energy is another top gainer in the DAX Index as it jumped by 88% this year an 24% in the last three months. The company has continued to benefit from the ongoing turnaround and robust order intake. 

Siemens Energy’s revenue grew by 13.5% in the last quarter to €9.7 billion, while its order intake jumped to €16.6 billion. Its profit before special items rose to €497 million, much higher than the €49 million it had in the same period last year.

Deutsche Bank’s share price has jumped by 63% this year, helped by the ongoing surge in profits. The most recent numbers showed that its trading business boomed, helped by the volatility brought about by Donald Trump’s tariffs. 

The other top gainers in the DAX Index were companies like Heidelberg Materials and Bayer. E. ON, Allianz, Siemens, and Deutsche Post. 

Adidas, the top sporting apparel company, was the top laggard in the index as its growth decelerated. The other top losers in the German DAX were firms like Zalando, Symrise, Porsche, Merck, and Beiersdorf.

The post Top catalysts for DAX Index and best stocks of 2025 revealed appeared first on Invezz

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In World news

Tech 5: US Government Strikes Big Tech Deal, Perplexity Plots Expansion

5 Mins Read

Tech stocks led Wall Street to a second consecutive week of gains as a series of data releases reignited optimism about a September interest rate cut from the US Federal Reserve.

A strong consumer price index report was the catalyst, renewing anticipation that the Fed will lower rates when it meets next month. While Thursday’s (August 14) less optimistic producer price index report caused a momentary pause, the tech sector’s resilience — or defiance — mitigated losses and kept momentum alive.

Here’s a look at the key moments that shaped the tech sector this week.

1. US government strikes controversial Big Tech deal

On Monday (August 11), the Washington Post reported on a deal between the US government and tech giants NVIDIA (NASDAQ:NVDA) and Advanced Micro Devices (AMD) (NASDAQ:AMD). It stipulates that the tech companies must surrender 15 percent of revenue from Chinese sales of NVIDIA’s H20 chips and AMD’s MI308 chips.

Anonymous sources told the news outlet that this condition was imposed as a prerequisite for granting the companies export licenses to sell their products in China. The move that has prompted legal concerns among trade experts who say the fee could be construed as an unconstitutional trade tax.

“To call this unusual or unprecedented would be a staggering understatement,” Stephen Olson, a former US trade negotiator, told Bloomberg. “What we are seeing is in effect the monetization of US trade policy in which US companies must pay the US government for permission to export.”

AMD, NVIDIA and Intel performance, August 12 to 15, 2025.

Chart via Google Finance.

Meanwhile, shares of Intel (NASDAQ:INTC) rose as much as 4.6 percent on Tuesday (August 12) following a ‘candid and constructive’ meeting between CEO Lip-Bu Tan and US President Donald Trump on Monday.

The meeting came after Trump called for Tan’s removal last week.

According to a separate Bloomberg article, the US government is considering taking a stake in the chipmaker to help it establish a planned factory hub in Ohio; the company once promised it would be the world’s largest chipmaking facility. Tan has not confirmed or denied the report, but discussions are said to be ongoing. Sources told Bloomberg the government is considering using funds from the Biden administration’s Chips Act to fund the stake.

2. Amazon to expand grocery delivery services

Amazon (NASDAQ:AMZN) shares rose as much as 1.3 percent on Wednesday (August 13) after the commerce company announced plans to significantly expand its grocery services.

On Wednesday, the company said its same-day delivery service will now include fresh groceries, including produce, meat and dairy, in over 1,000 cities, with plans to expand into more than 2,300 by the end of the year.

The service is included in Amazon Prime memberships for orders over US$25. Smaller orders and orders from non-members will require fees of US$2.99 and US$12.99, respectively.

3. CoreWeave shares drop after mixed earnings report

Artificial intelligence (AI) data center operator CoreWeave (NASDAQ:CRWV) reported mixed Q2 results on Tuesday, with revenue more than doubling year-on-year to US$1.2 billion, beating estimates of US$1.08 billion, and a revenue backlog of US$30.1 billion. However, the growth came at a high cost. The company reported a record US$2.9 billion in capital expenditures for the quarter, and operating expenses jumped by 276 percent to US$1.19 billion.

CoreWeave performance, August 12 to 15, 2025.

Chart via Google Finance.

The company also reported losses of US$291 million, larger than the US$190.6 million analysts had estimated.

Shares of CoreWeave opened more than 10 percent lower on Wednesday and declined throughout the week, closing at US$99.97 on Friday (August 15) compared to Monday’s opening price of US$134.80.

4. Perplexity bids on Chrome, prepares for fresh funding round

AI startup Perplexity made a US$34.5 billion bid for Google’s (NASDAQ:GOOGL) web browser, Chrome, in a move to secure its future in the AI search market. Perplexity told the Wall Street Journal that the unsolicited offer would be funded with the help of outside investors. The company’s advance comes as Google faces a potential divestiture following an antitrust trial that found it had illegally monopolized online search and search advertising.

OpenAI has also expressed interest in acquiring Chrome.

On Thursday, Business Insider reported that Perplexity is preparing for another round of funding, which would mark its sixth fundraiser in 18 months. The company is reportedly seeking a post-money valuation of US$20 billion. This comes barely one month after the startup achieved a US$18 billion valuation.

The rapid succession of these events underscores the intense, high-stakes competition among AI startups to secure foundational assets and challenge established tech giants.

Canadian AI startup Cohere secured US$500 million in fresh funding on Thursday from a group of investors that included NVIDIA and AMD, bringing its valuation to US$6.8 billion. The company also onboarded former executives from Uber Technologies (NYSE:UBER) and Meta Platforms (NASDAQ:META).

5. Apple plans product expansion

Apple (NASDAQ:AAPL) shares climbed as high as 1.7 percent on Wednesday after Bloomberg reported on the company’s planned expansion into robotics, home security and smart displays.

The new products are aimed at strengthening Apple’s product ecosystem, which has paled in comparison to offerings from tech rivals like Amazon and Meta.

Apple performance, August 12 to 15, 2025.

Chart via Google Finance.

Some of the new devices slated for future release include a tabletop virtual companion robot, a long-planned advanced Siri model with a visual personality, a smart speaker with display capabilities and home security cameras.

Apple finished the week at US$231.59, a 1.7 percent gain from Monday.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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In Business

Lyft co-founders to step down from ride-hailing firm’s board

2 Mins Read

Lyft said Thursday its co-founders, Logan Green and John Zimmer, are stepping down from the ride-hailing services provider’s board, following the completion of a two-year transition plan.

Green and Zimmer began serving as the chair and vice chair of Lyft’s board in 2023 after stepping down as CEO and president, respectively, handing the reins to David Risher, who has been a board member since 2021.

The duo founded Lyft in 2012, with the company now operating across four continents and nearly 1,000 cities.

Sean Aggarwal, who was the chair of Lyft’s board from 2019 to 2023, will reprise his role.

Zimmer is launching a new consumer-focused business venture named YES&, while Green will continue as a venture partner at Autotech Ventures, a firm investing in the mobility and transportation sector.

Lyft, which recently completed its nearly $200 million acquisition of European mobility platform FreeNow, has signed a deal with China’s Baidu 9888.HK to introduce the search-engine giant’s robotaxis in the region.

It posted revenue of $1.59 billion in the second quarter, missing estimates of $1.61 billion, according to data compiled by LSEG.

Rides on Lyft’s platform grew 14% to a record high of 234.8 million in the quarter, slightly below estimates of 235.9 million, per Visible Alpha.

This post appeared first on NBC NEWS

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Trump closes out 30th week in office with ‘very warm’ high-stakes Putin meeting

4 Mins Read

President Donald Trump closed out his 30th week in office of his second term with a high-stakes meeting with Russian President Vladimir Putin Friday in Anchorage, Alaska, in an attempt to end the war between Russia and Ukraine. 

The two did not reach a peace agreement, but Trump said that the meeting was a success and that Ukrainian President Volodymyr Zelenskyy will visit the White House in Washington Monday. 

‘It was determined by all that the best way to end the horrific war between Russia and Ukraine is to go directly to a Peace Agreement, which would end the war, and not a mere Ceasefire Agreement, which often times do not hold up,’ Trump said in a Saturday post on Truth Social. 

If the meeting in Washington with Zelenskyy goes well, Trump said that a trilateral meeting between the U.S., Russia and Ukraine will be scheduled. 

Trump described the meeting with Putin as ‘very warm,’ and said that he believed a deal was imminent. 

‘I can tell you, the meeting was a very warm meeting,’ Trump told Fox News host Sean Hannity in an exclusive interview. ‘You know, he’s a strong guy, he’s tough as hell on all of that, but the meeting was a very warm meeting between two very important countries, and it’s very good when they get along. I think we’re pretty close to a deal. Now look, Ukraine has to agree to it.’

Here’s what also happened this week: 

Crime crackdown 

On Monday, Trump announced he would activate approximately 800 National Guard troops and would take over the Metropolitan Police Department to address crime in Washington. The move came after Trump already bolstered federal law enforcement presence in the nation’s capital Saturday. 

‘I’m deploying the National Guard to help reestablish law, order and public safety in Washington, D.C.,’ Trump told reporters at a Monday press conference. ‘And they’re going to be allowed to do their job properly.’

Trump initially suggested federalizing Washington’s Metropolitan Police Department and dispatching National Guard troops to address crime in Washington Aug. 6 in response to the assault of a former Department of Government Efficiency (DOGE) staffer. 

Although a temporary federal takeover of the Metropolitan Police Department is warranted for emergency situations, Washington officials filed a lawsuit challenging the Trump administration’s move Friday. 

‘By illegally declaring a takeover of MPD, the Administration is abusing its temporary, limited authority under the law,’ Washington Attorney General Brian Schwalb wrote in a Friday X post. ‘This is the gravest threat to Home Rule DC has ever faced, and we are fighting to stop it.’

Smithsonian review

The White House sent a letter to the Smithsonian Tuesday, announcing it would conduct a review of its museums and exhibits leading up to the 250th birthday of the United States in 2025.

‘We want the museums to treat our country fairly,’ Trump told reporters Thursday. ‘We want their museums to talk about the history of our country in a fair manner, not in a woke manner or in a racist manner, which is what many of them, not all of them, but many of them are doing.’

‘Our museums have an obligation to represent what happened in our country over the years. Good and bad,’ Trump said. ‘But what happened over the years in an accurate way.’ 

The White House said in a letter Tuesday the review would involve examining social media, exhibition text and educational materials to ‘assess tone, historical framing, and alignment with American ideals.’ 

‘This initiative aims to ensure alignment with the President’s directive to celebrate American exceptionalism, remove divisive or partisan narratives, and restore confidence in our shared cultural institutions,’ the letter said.

The Smithsonian told Fox News Digital it would coordinate with the White House, Congress and its governing Board of Regents on the matter. 

‘The Smithsonian’s work is grounded in a deep commitment to scholarly excellence, rigorous research and the accurate, factual presentation of history,’ the Smithsonian said in a statement.

This post appeared first on FOX NEWS

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In Stocks

Morgan Stanley turns more optimistic on Apple as iPhone outlook improves

3 Mins Read

Morgan Stanley has expressed renewed optimism about Apple Inc., citing stronger-than-expected iPhone demand in China and the potential for upward estimate revisions.

Analyst Erik Woodring wrote in a Thursday note that “the Apple story could be turning the corner,” driven by higher iPhone build forecasts and the possibility of valuation expansion.

Stronger iPhone builds in China fuel forecasts

According to Morgan Stanley’s China team, iPhone sales in the June quarter outperformed expectations, prompting an 8% increase in its September iPhone builds estimate.

This improvement stems from stronger-than-expected iPhone sell-through, which reduced channel inventory below normalized levels and created a larger restocking opportunity.

The revised build forecast is concentrated entirely on iPhone 16 (2 million units) and iPhone 16 Pro Max (2 million units) models.

Woodring noted that while the September quarter outlook has already factored in these improvements, it could signal more upside in the December quarter — a period that typically experiences greater volatility.

“Relative to our current 78 million December quarter iPhone shipment forecast, this could imply modest iPhone shipment upside, though we’ll be able to narrow this range next month when the iPhone 17 is officially launched,” he said.

AI integration still in development

Apple’s broader growth prospects also hinge on the rollout of Apple Intelligence, the company’s suite of artificial intelligence features.

Key functions, including an updated Siri with AI capabilities, have faced multiple delays since their initial announcement last year.

The company is expected to reveal details of its new iPhone model next month, which could align with further AI announcements.

Morgan Stanley believes forward iPhone unit and revenue growth expectations remain relatively muted, despite several positive factors.

These include elongated replacement cycles, pent-up demand, new form factors in development, and structural gross margin tailwinds.

Woodring also pointed out that pricing remains an “underappreciated lever” for both Apple’s products and services, noting that the company has not raised services prices in two years.

Market position and potential catalysts

Apple shares have fallen more than 7% in 2025, and according to Woodring, many institutional investors remain underweight the stock compared with other megacap technology peers.

He also highlighted that peak tariff risk has passed, regulation appears less of a near-term obstacle than previously feared, and Apple is trading in line with its trailing five-year average relative to the S&P 500.

While regulatory pressures persist as a long-term consideration, Morgan Stanley sees room for Apple to benefit from potential AI-related partnerships, which could serve as a catalyst for a breakout in the stock.

“In our view, Apple is one potential AI partnership away from breaking out,” Woodring concluded.

The note underscores a shift in sentiment among some Wall Street analysts, as policy clarity, product cycles, and improving demand dynamics give Apple fresh momentum heading into the second half of the year.

The next major update to investor expectations may come with the launch of the iPhone 17, expected to provide further visibility into both demand trends and the company’s AI strategy.

The post Morgan Stanley turns more optimistic on Apple as iPhone outlook improves appeared first on Invezz

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Editor’s Picks: Gold Tariff Threat Ends, Price Reacts to Fresh Inflation Data

5 Mins Read

The gold price cooled off this week as tariff-related uncertainty reached a resolution.

The yellow metal was thrust into headlines late last week when US Customs and Border Protection told a Swiss refiner that 1 kilogram and 100 ounce gold bars would be subject to Trump administration tariffs that went into effect on August 7.

Gold is one of Switzerland’s top exports to the US, and with the country facing a 39 percent levy, questions were rife about what the impact could be. Clarification came on Monday (August 11), when US President Donald Trump said on Truth Social that gold ‘will not be tariffed.’

While the news calmed market participants, Keith Weiner of Monetary Metals believes the incident could have long-term impacts. He said the tariff confusion caused the spread between spot gold and gold futures to blow out, creating difficulties for entities using the market to hedge.

Here’s how Weiner explained it:

‘Once you’ve put the scare into everybody, you can’t just say, ‘Oh, sorry, just kidding.’ You can’t really do that. And so now we’ve done damage, and we’ll see what happens to that spread over time. We’ll see how users of the futures market adapt.

‘There are other markets in the world that would be competing for this hedging business — maybe it moves to Singapore, maybe it moves to Dubai, maybe it moves to London, and the US loses not only a little more trust, but also a little bit of volume on what had been the biggest, or what is currently the biggest, futures market.’

This week also brought the release of US consumer price index (CPI) and producer price index (PPI) data. On a seasonally adjusted basis, CPI for July was up 0.2 percent from the previous month and 2.7 percent from the year-ago period. Meanwhile, core CPI, which excludes the food and energy categories, was up 0.3 percent month-on-month and 3.1 percent from the same time last year.

While those numbers were largely in line with expectations, seasonally adjusted July PPI figures came in hotter than expected, rising 0.9 percent month-on-month compared to Dow Jones’ forecast of 0.2 percent. Core PPI increased 0.9 percent from June compared to an estimated rise of just 0.3 percent.

Speaking about the implications of the data, Danielle DiMartino Booth of QI Research said it shows companies aren’t yet passing tariff-related price increases on to consumers.

This is what she said about how these circumstances could develop:

‘I do think that we will see where companies feel they can push through price increases — I think we’ll see that. We saw quite a bit of food inflation in the PPI, and when you’re talking about things like essentials, and especially with very, very low-margin types of sales, we could see what we call the substitution effect begin, where households end up buying other things. The classic is always that they trade down from steak to ground beef, or trade down from beef to chicken.

‘We’re going to see whether or not that plays out again.’

While the PPI data has slightly dampened expectations that the US Federal Reserve will cut interest rates when it meets in September, CME Group’s (NASDAQ:CME) FedWatch tool still shows a strong probability of a reduction at that time.

Bullet briefing — CATL closes mine, Mitsubishi invests in copper

CATL temporarily closes lithium mine

Contemporary Amperex Technology (HKEX:3750,SZSE:300750), better known as CATL, said on Sunday (August 10) that it will halt production at a lithium mine in China for at least three months.

Sources familiar with the matter told Bloomberg that CATL, which is the world’s largest electric vehicle battery maker, failed to extend a key mining permit. The company is reportedly in talks about a renewal, but is prepared for a months-long shutdown.

Share prices of lithium miners rose on the news, buoyed by expectations that the CATL mine closure will help reduce oversupply. Excess output has caused Chinese lithium prices to drop 80 percent since the end of 2022, and investors are keen to see a turnaround for the beleaguered battery metal.

Hudbay, Mitsubishi team up on copper

Mitsubishi (TSE:8058) is set to acquire a 30 percent stake in Hudbay Minerals’ (TSX:HBM,NYSE:HBM) Arizona-based Copper World subsidiary for US$600 million.

Hudbay called Mitsubishi its ‘strategic partner of choice,’ while Mitsubishi said the investment will help advance its copper growth plans. A feasibility study is in the works for Copper World, and a definitive feasibility study is expected in mid-2026.

Hudbay shareholders reacted positively to the news, which comes on the back of a strong focus on copper supply after last month’s announcement of a 50 percent tariff on US imports of semi-finished copper products and intensive copper derivative products. The company projects that Copper World will result in a direct $1.5 billion investment into the US critical minerals supply chain.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Warren Buffett’s Berkshire Hathaway reveals new stake in beleaguered insurer UnitedHealth

3 Mins Read

Warren Buffett’s Berkshire Hathaway revealed a new stake in troubled insurer UnitedHealth last quarter, according to a regulatory filing, a surprising buy because of the company’s current reputation, but perhaps not considering his history of bargain investing.

The Omaha-based conglomerate bought more than 5 million shares in the health care firm for a stake worth about $1.6 billion at the end of June. The stake puts it as the 18th biggest position in the Berkshire portfolio behind Amazon and Constellation Brands, according to VerityData.

Berkshire’s equity portfolio is worth about $300 billion, so it is possible that Buffett’s two investing lieutenants Todd Combs and Ted Weschler were more responsible for this purchase rather than the “Oracle of Omaha” himself. Buffett said one of his investment managers was behind the Amazon investment in 2019.

The insurer’s stock shot up 6% in extended trading following Berkshire’s disclosure.

Shares of UnitedHealth were down nearly 50% for 2025 through Thursday’s close before Buffett’s filing. The largest private health insurer has become the face of a public blowback in this country against the rising costs of health care. UnitedHealth is currently facing a Justice Department investigation into its Medicare billing practices.

In May, the company pulled its annual earnings outlook and CEO Andrew Witty stepped down. Last month, UnitedHealth gave a new 2025 outlook that was well short of Wall Street estimates, hitting the stock further.

Buffett, who’s turning 95 this month, has been critical of the healthcare system in the U.S., calling it a “tapeworm” on the economy due to its high costs. In 2018, he, along with Jeff Bezos and Jamie Dimon, launched a joint venture to improve healthcare for their employees and potentially for all Americans, but it was eventually shut down.

UnitedHealth isn’t the only stock Berkshire picked up recently. In fact, the conglomerate also took small stakes in steel manufacturer Nucor, outdoor advertising company Lamar Advertising and security firm Allegion. Berkshire also got back into homebuilders Lennar and DR Horton.

Shares of Nucor jumped nearly 8% in afterhours trading, while Lennar and DR Horton popped about 3% each.

Buffett also pared his positions in Bank of America and Apple. The Apple stake was cut by about 7%. Berkshire’s largest positions as of the end of the second quarter were Apple, American Express, Bank of America, Coca-Cola and Chevron.

The legendary investor is stepping down as Berkshire CEO at the end of the year, handing over the reins to Greg Abel. Buffett will stay on as chairman of the board. It’s still unclear who will be in charge of Berkshire’s gigantic equity portfolio, though Buffett has alluded that Abel will be making all capital allocation decisions at the conglomerate.

UnitedHealth attracted other buyers last quarter, according to filings, including Michael Burry and Appaloosa Management’s David Tepper. Shares of the insurer are trading at a price-earnings ratio of just under 12, near its lowest in more than a decade.

There was speculation regarding a mystery stock Buffett was buying as Berkshire had asked for permission to keep certain holdings secret last quarter. It turns out the secret stock was a combination of multiple positions and likely the stakes added in DR Horton, Nucor and Lennar “A” shares.

This post appeared first on NBC NEWS

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‘Absolutely incredible’: B-2 bomber, F-35 escort set stage for Trump-Putin talks in Alaska

3 Mins Read

As President Donald Trump greeted Russian President Vladimir Putin on the tarmac at Joint Base Elmendorf-Richardson, a B-2 stealth bomber soared overhead, flanked by four F-35 jets. 

Putin looked up at the sky as the planes buzzed overhead while he walked alongside Trump, and then made a comment to the U.S. president. 

The display was as much a symbol as it was a show of force—a pointed reminder of America’s military reach at the very moment the two leaders prepared to discuss the future of global security.

The dramatic arrival underscored the high-stakes nature of the Alaska summit, the first face-to-face meeting between Trump and Putin since Trump’s return to the White House earlier this year. Joint Base Elmendorf-Richardson, situated just outside Anchorage, was chosen for its robust security, strategic location, and symbolic position—physically closer to Russia than Washington, D.C., yet firmly on American soil.

Onlookers in Anchorage and across social media quickly seized on the moment. Many called it an ‘insane flex,’ noting the B-2 bomber’s recent combat history.

Only two months ago, the stealth aircraft played a central role in U.S. and Israeli strikes on Iranian nuclear facilities, dropping bunker-buster bombs in a move that drew both praise and condemnation on the world stage.

The B-2 Spirit, built by Northrop Grumman, is one of the most advanced aircraft ever created—capable of penetrating dense air defenses and striking targets anywhere in the world without refueling. Its distinctive flying-wing design and radar-absorbent coating make it nearly invisible to enemy radar. 

With a range of over 6,000 nautical miles and the ability to carry both conventional and nuclear weapons, the B-2 serves as a critical component of America’s nuclear triad. Only 21 were ever built, and fewer than 20 remain in service, making any public appearance a rare and deliberate statement.

‘Absolutely incredible,’ wrote one X user. Another added, ‘Putin now knows what will be greeting him if he were to ever cross that line that should never be crossed.’

After the brief tarmac ceremony, Putin entered ‘The Beast’ alongside Trump. The heavily armored presidential limousine rolled past a row of American fighter jets lined up in silent formation, their presence another visual reminder of the stakes surrounding the talks.

The two leaders traveled to a secure meeting hall on the base, beginning discussions at about 3:30 p.m. Eastern Time. Trump has said he plans to ‘set the table’ during the meeting for a future summit that includes Ukrainian President Volodymyr Zelenskyy. But still, he told Fox News’ Bret Baier he ‘won’t be happy’ if Putin does not agree to a ceasefire in Ukraine. 

This post appeared first on FOX NEWS

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Europe markets open: FTSE 100 hits new record, up 0.4%, despite London’s job crisis

3 Mins Read

European markets pushed higher again on Friday, with London’s FTSE 100 smashing another record high at the open, yet the celebratory mood on the trading floor masks a deeply troubling economic reality unfolding on the city’s streets.

While stocks climb, a severe contraction in the capital’s job market is flashing red, creating a stark and unsettling tale of two Londons.

The benchmark FTSE 100 index jumped around 0.4% at the start of trading, with the pound firming 0.2% against the dollar to trade above $1.35.

The optimism is widespread, with futures tied to the pan-European Stoxx 50, Germany’s DAX, and France’s CAC 40 all pointing to gains of around 0.6%, as investors await the outcome of a highly anticipated meeting between US President Donald Trump and his Russian counterpart Vladimir Putin, hoping for a resolution to the war in Ukraine.

A city of contrasts: record stocks, collapsing jobs

But beneath the headline stock market gains, a chilling economic story is emerging. According to new data from the jobs website Indeed, advertisements for retail and hospitality positions in the capital have plunged by nearly 40% since October.

This is a far steeper decline than the national averages of 26% and 9% respectively, signaling a crisis disproportionately affecting London.

Tax data reinforces this alarming trend, showing that a staggering one in four of all UK job losses since October has occurred in the capital.

This economic pain is being attributed to a toxic cocktail of factors: the government’s recent increase in payroll tax and the minimum wage, the capital’s already high salary base, and the creeping advance of AI, which is beginning to replace roles in finance, marketing, and management consulting.

Corporate headwinds and the China problem

The underlying economic fragility is not just a London phenomenon; it’s being reflected in the earnings reports of major European brands with global exposure.

Danish jewelry giant Pandora on Friday posted a slightly weaker-than-expected rise in second-quarter sales, shining a spotlight on the continued weakness in the crucial Chinese market.

Revenues rose 8% on an organic basis to 7.08 billion Danish kroner ($1.10 billion), just missing the 7.12 billion kroner forecast by LSEG analysts.

The report revealed a sharp geographical divide: while the US market accelerated with 12% growth, sales in China recorded the largest decline, plummeting by 15%.

Pandora said its performance in China “continues to be challenged” and announced it would double its anticipated store closures in the country to 100 this year.

In a show of resilience, the company maintained its full-year outlook, but the report serves as a potent reminder that even as stock indices hit new highs, real-world economic and geopolitical challenges are casting a long shadow.

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