Adidas profit drops as sales in China slump
The German sportswear giant reported net profit of €310 million ($327 million) in the first three months of 2022, down 38% on the same period last year. The company said…
Elon Musk probably got a huge tax break when he sold off Tesla shares
Musk last month sold $8.5 billion worth of Tesla shares for more than 100 times what he paid for them (he exercised options and bought them for a massively reduced…
China silences prominent market analyst as economic slump deepens
Over the weekend, Tencent’s (TCEHY) WeChat froze the public account of Hong Hao, managing director and head of research at BOCOM International, the investment banking arm of Bank of Communications,…
Has inflation reached a peak? Three signs that prices could soon come down
A gallon of gas costs about double what it cost in January 2021. Home prices were up a whopping 19.8% year-over-year in February. And, in March, groceries cost 10% more…
Buffett says Berkshire’s success is more about being ‘sane’ than ‘smart’
Buffett simply said that the Berkshire Hathaway (BRKB) strategy is all about making rational decisions and investing for the long haul. “It’s not because we’re smart. It’s because we’re sane,”…
Putin keeps the ruble surging as Russia makes 11th-hour effort to avoid default
Russia’s currency hit a two-year high against the US dollar Friday. The ruble gained ground after the country said it managed to pay back creditors with dollars as Russia tries…