After nearly six decades at the helm, Warren Buffett says he will step down as CEO of Berkshire Hathaway, naming Greg Abel as his successor.
Warren Buffett has announced he will step down as chief executive of Berkshire Hathaway at the end of the year, handing leadership to Vice Chairman Greg Abel.
Buffett, 94, took control of Berkshire Hathaway in 1965 when it was a struggling textile manufacturer. Over the next six decades, he transformed it into a $1.16 trillion conglomerate spanning insurance, energy, consumer goods, and tech.
His surprise decision to step down marks the end of an era. Buffett said he had not given advance notice to board members, making the announcement unexpected even within the company.
Widely regarded as the world’s most successful investor, Buffett built Berkshire into a corporate giant that now owns more than 60 companies, including Geico, Duracell, and Dairy Queen. The firm also holds major stakes in Apple, Coca-Cola, Bank of America, and American Express.
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Samsung has appointed Roh Tae-moon as interim head of its consumer and smartphone unit following the passing of Han Jong-hee. With CEO Jun Young-hyun now solely leading the company, Samsung faces key challenges in its chip business and rising competition.
amsung Electronics announced on Tuesday that co-CEO Han Jong-hee had passed away due to a heart attack, leaving newly appointed CEO Jun Young-hyun in sole charge of the company. Han, 63, had led Samsung since 2022 and was responsible for its consumer electronics and mobile devices division.
Nvidia CEO Jensen Huang forecasted a rapid arrival of humanoid robots in manufacturing, stating that widespread use in factory settings is likely within the next few years.
Intel’s incoming CEO Lip-Bu Tan is reportedly planning a comprehensive restructuring of the company’s manufacturing processes and artificial intelligence strategies—a bold move aimed at reviving the tech giant’s fortunes, according to two people familiar with his plans.
The Oligarch’s Design is an investigative documentary exploring how financial power, political influence and carefully constructed narratives can shape conflict and public perception.
Turkish President Recep Tayyip Erdoğan reiterated his offer to host Ukraine-Russia peace talks in Ankara, at his meeting with Russian President Vladimir Putin. The talks took place on the sidelines of the international Forum for Peace and Trust in Ashgabat, Turkmenistan, on Friday (12 December).
Iranian authorities have seized a foreign tanker carrying more than 6 million litres of smuggled fuel in the Sea of Oman, detaining all 18 crew members on board.
An explosive device found in a vehicle linked to one of the alleged attackers in Bondi shooting has been secured and removed according to Police. The incident left 12 people dead.
Russian forces struck Ukraine’s southern port city of Odesa for a second consecutive day on Saturday (13 December), deploying Kinzhal hypersonic missiles for the first time in the conflict, Ukrainian authorities said.
Iran has rolled out changes to how fuel is priced at the pump. The move is aimed at managing demand without triggering public anger.
U.S. stock markets closed lower at the end of the week, as investors continued to rotate out of technology shares, putting pressure on major indices.
The U.S. Federal Reserve’s Federal Open Market Committee (FOMC) cut its benchmark interest rate by 25 basis points to a range of 3.50% to 3.75% following its two-day policy meeting, according to an official statement issued on Wednesday, 10 December.
China has carried out a major test of a new “super wireless” rail convoy, a technology that could reshape the future of heavy-haul transport.
Paramount Skydance (PSKY.O) has launched a $108.4 billion hostile takeover bid for Warner Bros Discovery (WBD.O). The escalation follows a high-stakes battle that had appeared to end last week when Netflix secured a $72 billion deal for the studio giant’s assets.
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