Huawei Technologies will immediately lose access to updates to the Android operating system, a source close the matter told Reuters.Technologyread more
Huawei claims it has developed its own operating system for smartphones and laptops for "extenuating circumstances."Technologyread more
Trump's threat, posted on Twitter, comes amid rising international tensions in the Middle East as the U.S. has dispatched a carrier strike group and bomber task force to the...Politicsread more
Stocks in Asia were mostly higher on Monday amid rising tensions between the U.S. and China.Asia Marketsread more
Current geopolitical tensions are making it harder and harder for oil-producing nations to make decisions that will help stabilize crude prices, Russian Energy Minister...Oilread more
Russian Energy Minister Alexander Novak said there were different options available for OPEC and its oil-producing allies in the second half of 2019, including a possible...Oilread more
The Australian Electoral Commission (AEC) on Monday said Morrison's coalition has won 75 seats in Australia's parliament, one seat short of a 76-seat majority.Electionsread more
U.S. President Donald Trump said his tariffs on Chinese goods are causing companies to move production out of China to Vietnam and other countries in Asia, and added that any...World Politicsread more
SoftBank founder Masayoshi Son speaks in futuristic terms about his company, but the success of his late-stage VC fund is still unknown.Technologyread more
Reports of Tesla vehicles spontaneously catching fire could make customers wary of EVs just as the industry ramps up production plans.Autosread more
Amazon's large and flashy investments stand out from those of its tech peers over the past year.Technologyread more
Warren Buffett's Berkshire Hathaway is doing something outside of its closely followed playbook.
The conglomerate, which typically takes stakes in blue chip American companies, has invested roughly $600 million in two fintech companies focused on emerging markets — Paytm and StoneCo, The Wall Street Journal reported Monday. Both investments were led by one of Berkshire's two top money managers, Todd Combs.
The newspaper said Berkshire took a $300 million stake in August in Paytm, India's largest mobile-payments service that claims to have more users than PayPal. Berkshire bought shares in Brazilian payment processor StoneCo when it went public last week.
Buffett's holding company is best known for investments in U.S. giants like IBM, Coca-Cola and Wells Fargo.Two years ago, it reversed a long-standing aversion to airlines, taking stakes in four major carriers including Delta and American. While Berkshire has stayed away from early-stage tech plays, these fintech companies dominate their local markets, a theme that does fit in with Buffett's past investment criteria.
Buffett has long said that technology is outside his expertise. Combs, however, had an extensive background in payments before joining Berkshire eight years ago. He ran a hedge fund focused on financial companies called Castle Point Capital and now sits on the Paytm board after Berkshire's investment. He'a also on J. P. Morgan's board.
Berkshire hasn't shunned tech entirely. It has been acquiring shares of Apple since 2016. By the end of June, it held 251 million shares as Apple's second largest shareholder.
— Read the entire Wall Street Journal report here.