AnewZ Morning Brief - 8th July, 2025
Start your day informed with AnewZ Morning Brief: here are the top news stories for 8th July, covering the latest developments you need to know....
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.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
Italy plans to grant approximately 500,000 work visas to non-EU nationals between 2026 and 2028, as announced in a cabinet statement. The initiative aims to address labor shortages by expanding legal immigration pathways
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
US President Donald Trump has declared a 25% tariff on imports from Japan and South Korea starting August 1, urging both nations to shift production to the US and warning of further tariff hikes if retaliatory measures are taken.
Tesla shares fell sharply after Elon Musk announced a new political party, intensifying his feud with Donald Trump over a controversial spending bill passed by Congress.
The United States will make several trade announcements in the next 48 hours, Treasury Secretary Scott Bessent said on Monday, ahead of a U.S. deadline on Wednesday to finalize trade pacts.
President Donald Trump said the U.S. will impose an additional 10% tariff on any countries aligning themselves with the "Anti-American policies" of the BRICS group of developing nations, whose leaders kicked off a summit in Brazil on Sunday.
The BRICS member countries have reached a new agreement to establish a multilateral financial guarantee mechanism aimed at supporting sustainable development projects, including the energy transition, the expansion of renewable energy, and the strengthening of resilient infrastructure.
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