Warren Buffett Divests from Newspaper Industry After Declaring It ‘Toast’
Warren Buffett is officially exiting the newspaper business, a sector that he once saw as a promising investment. Berkshire Hathaway Inc., his conglomerate, has agreed to sell its BH Media Group, which owns 30 daily newspapers, to Lee Enterprises Inc….
Huawei Among 20 Chinese Companies Identified by Pentagon as Linked to China’s Military
In a significant move, the U.S. Department of Defense has added Huawei Technologies and Hangzhou Hikvision Digital Technology to a list of 20 companies it claims are either owned or controlled by China’s military. This action could trigger new sanctions,…
Verizon Suspends Facebook and Instagram Ads Over Disinformation Concerns
Verizon Communications Inc. has announced it is halting its advertising on Facebook and Instagram, citing concerns over the platforms’ handling of hate speech and disinformation. The telecom giant, one of the largest advertisers to join the movement, expressed dissatisfaction with…
Oracle Employees Protest Larry Ellison’s Trump Fundraiser with Walk-Out
Oracle Corporation, a prominent tech stalwart, found itself at the center of employee activism this week as about 300 workers walked out in protest of Chairman Larry Ellison’s fundraiser for President Donald Trump. The walk-out, dubbed “No Ethics/No Work,” occurred…
Stephen Schwarzman: Navigating the Crossroads of Wealth, Populism, and Global Trade
At 72, Stephen Schwarzman stands at the pinnacle of American finance, serving as the chairman, CEO, and co-founder of The Blackstone Group, the investment giant that manages a staggering $554 billion in assets. With a net worth exceeding $18 billion,…
Chuck E. Cheese Parent Company Files for Bankruptcy Amid Pandemic Struggles
CEC Entertainment, the parent company of Chuck E. Cheese and Peter Piper Pizza, has filed for bankruptcy protection in the wake of the COVID-19 pandemic, which led to the closure of its locations and left families unable to visit its…
Elon Musk Sells $1.1 Billion in Tesla Stock Following Twitter Poll
Tesla CEO Elon Musk has sold $1.1 billion worth of Tesla stock after conducting a poll on Twitter asking whether he should offload 10% of his stake in the company. On November 8, Musk exercised 2.15 million stock options at…
Josh Barro Returns to Business Insider as Senior Editor
Josh Barro is making his return to Business Insider as senior editor, where he will oversee the site’s commentary team and continue writing his thought-provoking columns on politics, business, and the economy. The announcement is set to be made on…
Google Explores Internet Expansion in Cuba
This weekend, a Google executive is set to visit Cuba, exploring ways to improve the island’s Internet access—a critical move amid the U.S.-Cuba thaw under President Obama. The company has reportedly made a proposal to the Cuban government, signaling growing…
Buffett Defends Burger King-Tim Hortons Deal Amid Tax Inversion Criticism
Warren Buffett, the billionaire CEO of Berkshire Hathaway, once again stood by the controversial $11 billion acquisition of Canadian chain Tim Hortons by Burger King, despite widespread criticism labeling the deal a corporate inversion aimed at circumventing U.S. taxes. Buffett,…
Microsoft’s Bold Move: 18,000 Job Cuts Announced
In a decisive step to reshape its future, Microsoft has announced plans to cut up to 18,000 jobs approximately 14% of its workforce—over the next year. This sweeping move is aimed at streamlining operations following the company’s acquisition of Nokia’s…
The Woman Behind Fortune’s Power Rankings
LAGUNA NIGUEL, Calif. — Pattie Sellers is a living example of how life’s unexpected twists lead you to where you’re meant to be. As Fortune’s senior editor at large, Sellers is a key figure in the world of business journalism,…