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Gold
4545.67
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Real-time News
On May 16th, Berkshire Hathaway made a significant purchase of Delta Air Lines (DAL.N) in its first quarter under Greg Abel, who succeeded Warren Buffett as CEO, returning to the airline the group had invested in years ago. Abel, who became CEO in January, stated in his first letter to shareholders in February that Apple, American Express, Coca-Cola, and Moodys were among his "core" holdings, and that Berkshire would continue its "concentrated holdings" strategy. As of the end of March, Berkshires newly acquired Delta holding was valued at approximately $2.6 billion, still relatively small compared to its largest holding. Despite rising fuel costs due to the Iran-Iraq conflict putting pressure on airline stocks this year, Deltas share price has still risen 1.2%. During Buffetts tenure, Berkshire invested in several major airlines, including Delta, and was once its largest shareholder. In 2020, Berkshire liquidated all its airline holdings. At that time, the COVID-19 pandemic brought air travel to a near standstill, and Buffett said, "The world of the aviation industry has changed."On May 16, it was reported that law enforcement agencies from China and the Philippines recently cooperated to arrest and repatriate Chen, suspected of organizing cross-border gambling. Chen, along with others, established an illegal gambling website overseas, recruiting thousands of mainland Chinese gamblers and maliciously setting withdrawal thresholds to reap huge profits. The amount involved exceeded 200 million yuan. Chinese law prohibits all forms of gambling, forbids Chinese capital investment in local casinos, prohibits Chinese citizens from participating in the operation of local casinos, and prohibits local casinos from recruiting Chinese citizens to gamble. The Chinese Embassy in the Philippines will continue to strengthen law enforcement cooperation with the Philippine side to jointly combat cross-border gambling activities.Market news: Explosions were heard in Baghdad, Iraq.According to Iranian media reports, Iran stated that shipping will return to normal once the instability in the Strait of Hormuz ends.On May 16th, Yonhap News Agency reported that Samsung Electronics Chairman Lee Jae-yong called for unity within the company on Saturday. Currently, Samsungs labor union is deadlocked over wage negotiations and plans a large-scale strike next week. "Now is the wise time to unite our strength and move in the same direction," Lee said. "Union members, members of the Samsung family, we are one, we are one family." He also apologized to the companys customers and the public for concerns raised by "internal" issues. Samsungs largest labor union stated on Friday that despite the companys offer to resume negotiations without preconditions, the union will proceed with its planned strike next week. The strike is scheduled to begin next Thursday and last for 18 days, potentially disrupting production at the worlds largest memory chip manufacturer.
