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.

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.

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.

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.

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.

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.

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.

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.