Many of America's largest companies reported operating results beginning this month for the fourth quarter of 2025, giving investors a valuable update on the state of their businesses. Netflix (NASDAQ: NFLX) released its results on Jan. 20, noting a record amount of subscribers for its industry-leading streaming service and impressive growth in its still-developing advertising business. Despite Ne...
Many of America's largest companies reported operating results beginning this month for the fourth quarter of 2025, giving investors a valuable update on the state of their businesses. Netflix (NASDAQ: NFLX) released its results on Jan. 20, noting a record amount of subscribers for its industry-leading streaming service and impressive growth in its still-developing advertising business. Despite Netflix's reported success, the stock price is down 36% from its mid-2025 peak. Investors are weighing the value of its maturing business and are considering the potential impacts of the recently announced plans to spend $82 billion to acquire Warner Bros. Discovery . The stock is still up 78,000% since going public in 2002, and the current business appears to be doing well, so the recent dip might be a mere speed bump ahead of further gains in the future. Opportunities for long-term investors to buy this stock at such a steep discount don't come around often, so should investors make a move? Continue reading
Jacob Boomsma/iStock via Getty Images As Greg Abel steps into the chief executive role at Berkshire Hathaway ( BRK.B ) ( BRK.A ), some investors are reflecting on a previous contender once viewed as Warren Buffett’s likely successor: David Sokol, The Wall Street Journal reported Sunday. Sokol built a formidable reputation inside Berkshire ( BRK.B ) ( BRK.A ) by expanding MidAmerican Energy, revivi...
Jacob Boomsma/iStock via Getty Images As Greg Abel steps into the chief executive role at Berkshire Hathaway ( BRK.B ) ( BRK.A ), some investors are reflecting on a previous contender once viewed as Warren Buffett’s likely successor: David Sokol, The Wall Street Journal reported Sunday. Sokol built a formidable reputation inside Berkshire ( BRK.B ) ( BRK.A ) by expanding MidAmerican Energy, reviving underperforming units such as NetJets and spotting winning investments, including an early stake in China’s BYD ( BYDDF ) ( BYDDY ). Buffett publicly praised his drive and results, and Sokol was widely seen as a future leader of the conglomerate. That trajectory unraveled in 2011 after it emerged that Sokol had bought shares of Lubrizol shortly before recommending Berkshire ( BRK.B ) ( BRK.A ) acquire the company. Although regulators later declined to pursue the matter, Berkshire’s ( BRK.B ) ( BRK.A ) audit committee concluded the trades fell short of its ethical standards, and Sokol resigned amid controversy. Since then, Sokol has largely stayed out of the public eye. He has had little contact with Berkshire ( BRK.B ) ( BRK.A ) but has expressed support for Abel’s appointment, according to people familiar with his views. Some shareholders still see Sokol’s story as a reminder of how quickly a succession narrative can change. Today, Sokol remains active as a private investor through his firm, Teton Capital, managing what associates describe as a sizable personal fortune, while Berkshire ( BRK.B ) ( BRK.A ) moves forward under new leadership shaped by lessons from its past. More on Berkshire Hathaway Inc. Berkshire Hathaway: The End Of An Era Berkshire Hathaway Is Still Not Undervalued, But Relative Valuation Has Improved What We Can Learn From Warren Buffett's Mistakes Going Forward Berkshire Hathaway may unload 27.5% Kraft Heinz stake - filing Pantry cleaning: Berkshire dumps a sour bet as Kraft Heinz splits the ketchup
Brazilian mining firm Vale SA said it is investigating an overflow of water with sediment in a pit at the Fabrica mine in Minas Gerais state. The water reached some areas of Pires, a unit of competitor CSN Mineração . A warehouse, internal access areas, a mechanical workshop and loading areas were affected, CSN Mineração said in a statement. Neither company mentioned any impact on mine output. The...
Brazilian mining firm Vale SA said it is investigating an overflow of water with sediment in a pit at the Fabrica mine in Minas Gerais state. The water reached some areas of Pires, a unit of competitor CSN Mineração . A warehouse, internal access areas, a mechanical workshop and loading areas were affected, CSN Mineração said in a statement. Neither company mentioned any impact on mine output. The incident doesn’t involve a dam, Vale said, adding that the community in the region wasn’t affected. Seven years ago, the Brumadinho dam collapse in Minas Gerais killed 270 people and led to production cutbacks that stripped Vale of its ranking as world’s biggest iron ore producer.
Bystander video footage has captured the moments before the killing of 37-year-old Minneapolis man Alex Pretti by federal immigration officers. The killing comes less than three weeks after Renee Good was shot dead by an immigration agent in the city. BBC Verify has analysed footage of the shooting from multiple angles, piecing together a detailed picture of what happened. Ros Atkins' report conta...
Bystander video footage has captured the moments before the killing of 37-year-old Minneapolis man Alex Pretti by federal immigration officers. The killing comes less than three weeks after Renee Good was shot dead by an immigration agent in the city. BBC Verify has analysed footage of the shooting from multiple angles, piecing together a detailed picture of what happened. Ros Atkins' report contains distressing images. Verification by Emma Pengelly, Paul Brown and Benedict Garman. Graphics by Mesut Ersoz. Video produced by Tom Joyner.
家國天下｜小畫舫齋（下）：翰墨歸藏 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】廣州荔灣一座百年的西關大屋「小畫舫齋」，為僑商黃氏家族自清末民初至1940年代，廣邀當時畫家及學者文人交流與雅集的場所，並收藏大量...
家國天下｜小畫舫齋（下）：翰墨歸藏 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】廣州荔灣一座百年的西關大屋「小畫舫齋」，為僑商黃氏家族自清末民初至1940年代，廣邀當時畫家及學者文人交流與雅集的場所，並收藏大量明清至近代的書畫卷軸、古籍善本、器物等精品。這批珍貴家藏於1930年代末隨第二代黃兆鎮及嗣子黃秉章移居香港，承傳的後人於1990年代末，發現部分有蟲蛀等問題，獲香港中文大學文物館分毫不收協助修復。1999年開始，黃氏後人向館方陸續分別捐贈逾400組家藏，期望化私為公，家族珍藏在這所以學術研究為主的大學博物館，能進一步作保存及教育用途，為後世研究中國書畫及藝術史提供更全面及珍貴的材料。
Days after Japanese bonds crashed, sending tremors through global financial markets, traders were still stunned by the speed and breadth of it all. A quarter-point surge in yields “in a single session,” marveled Pramol Dhawan , a fund manager at Pacific Investment Management Co., “let that sink in.” In the Japanese government bond market of old, it would take weeks — sometimes months — for yields ...
Days after Japanese bonds crashed, sending tremors through global financial markets, traders were still stunned by the speed and breadth of it all. A quarter-point surge in yields “in a single session,” marveled Pramol Dhawan , a fund manager at Pacific Investment Management Co., “let that sink in.” In the Japanese government bond market of old, it would take weeks — sometimes months — for yields to eke out, tick by tick, a move of that magnitude. For most of the 21st century, the JGB market was so steady — and interest rates were stuck at such rock-bottom levels — that Tokyo was viewed by investors around the world as a source of both cheap funding and of stability during times of global turmoil. Last week’s selloff, accompanied by dramatic swings in the yen, made clear those days are over. Inflation, long dormant in Japan, has taken hold and, moreover, Prime Minister Sanae Takaichi is pushing fiscal stimulus plans that would swell a government debt pile that is already uncomfortably large. As a result, investors have been frantically sending bond yields up to levels once unthinkable — more than 4% on the longest-dated JGBs. That’s exerting upward pressure on interest rates from the US to Britain and Germany. Traders are braced for more disorderly market swings as Japan hurtles toward a Feb. 8 snap election for which both Takaichi and her rivals have campaigned on looser budgets. An even bigger worry for global markets over the long term is that the new normal of higher Japanese yields will prompt domestic investors to bring much more of their money back home. Some $5 trillion of the country's capital is deployed overseas, and that’s even before accounting for the yen that foreign funds have borrowed for their wagers in financial assets around the world. “It’s a new era,” said Masayuki Koguchi , executive chief fund manager at Mitsubishi UFJ Asset Management, one of the nation’s biggest. “I don’t think Japan’s yields have gone far enough yet. This is just the begin...
Explore how sector focus, risk profiles, and dividend yields set these two popular ETFs apart for different investment goals. The Vanguard Value ETF (VTV 0.60%) is designed for investors seeking to track the performance of large-cap U.S. value stocks, concentrating on established companies with lower price-to-book ratios. The State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF (SPTM 0....
Explore how sector focus, risk profiles, and dividend yields set these two popular ETFs apart for different investment goals. The Vanguard Value ETF (VTV 0.60%) is designed for investors seeking to track the performance of large-cap U.S. value stocks, concentrating on established companies with lower price-to-book ratios. The State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF (SPTM 0.04%) aims to mirror the broader U.S. equity market, spanning large-, mid-, and small-cap stocks. This comparison unpacks how these differences play out in cost, performance, risk, and portfolio makeup. Snapshot (cost & size) Metric VTV SPTM Issuer Vanguard SPDR Expense ratio 0.04% 0.03% 1-yr return (as of Jan. 25, 2026) 11.48% 12.91% Dividend yield 2.05% 1.13% AUM $218 billion $12 billion Beta (5Y monthly) 0.78 1.02 SPTM is slightly more affordable than VTV with a lower expense ratio, while VTV delivers a much higher dividend yield that may appeal to income-focused investors. Performance & risk comparison Metric VTV SPTM Max drawdown (5 y) -17.03% -24.15% Growth of $1,000 over 5 years $1,622 $1,765 What's inside SPTM tracks a broad U.S. equity index and holds 1,510 stocks, providing exposure across all market caps and sectors. Its portfolio is heavily weighted toward technology, making up 34% of assets, followed by financial services at 13% and consumer cyclical at 11%. The top holdings are Nvidia, Apple, and Microsoft. The fund has been operating for more than 25 years, offering a long track record for evaluation. VTV, in contrast, concentrates on 312 large-cap value stocks, with sector exposure led by financial services at 25%, healthcare at 16%, and industrials at 13%. Its largest positions are JPMorgan Chase, Berkshire Hathaway, and Exxon Mobil. For more guidance on ETF investing, check out the full guide at this link. What this means for investors SPTM and VTV can both be fantastic investments, and determining the right choice for your portfolio will depend on what you...
Jeffrey Ding is an assistant professor of political science at George Washington University. He is the author of Technology and the Rise of Great Powers, an award-winning book exploring the impact of technology on geopolitical competition, as well as the founder of the ChinAI newsletter, which tracks developments in China’s artificial intelligence (AI) industry. In this interview, Ding explains wh...
Jeffrey Ding is an assistant professor of political science at George Washington University. He is the author of Technology and the Rise of Great Powers, an award-winning book exploring the impact of technology on geopolitical competition, as well as the founder of the ChinAI newsletter, which tracks developments in China’s artificial intelligence (AI) industry. In this interview, Ding explains why “diffusion”, not innovation, will determine whether China or the US will prevail in the AI race, the Trump administration’s “counterproductive” policies around the technology, misconceptions about the two countries’ respective strengths in the field and why human capital is the key to victory. This interview first appeared in SCMP Plus. For other interviews in the Open Questions series, click here Advertisement You recently wrote an article for Rand Corporation, the influential US think tank, in which you argued that the US is “training for the wrong race” in AI. What did you mean? The main reason I wrote that piece was to clarify what I see as a lot of confusion out there about what the US and China are actually competing for in AI. Others have already articulated different visions of this US-China AI race, but I wanted to put forth clearly that there is one type of race that I think the US should optimise for, which is this “diffusion marathon” rather than a sprint towards a clear finish line. Advertisement The “diffusion marathon” refers to the progress the two countries make in spreading AI throughout their respective economies. This can be contrasted with a vision of the AI race as an “innovation sprint” – the view of many in US national security circles – where the key question is which country can innovate its way to developing an artificial general intelligence (AGI) with “God-like powers”, in the words of Jake Sullivan, the National Security Adviser under the Joe Biden administration.
The world's leading privacy token has come down considerably off its all-time highs. Here are the key drivers investors are watching closely. Leading privacy token Monero (XMR 11.71%) is one I think represents the sort of fear that's been building up among some investors in the crypto sector this past week. After surging to a new all-time high on Tuesday, Monero has given up those gains, and then ...
The world's leading privacy token has come down considerably off its all-time highs. Here are the key drivers investors are watching closely. Leading privacy token Monero (XMR 11.71%) is one I think represents the sort of fear that's been building up among some investors in the crypto sector this past week. After surging to a new all-time high on Tuesday, Monero has given up those gains, and then some. Now trading 25.6% lower over the past week, as of Sunday at 4:30 p.m. ET, the tightening of regulations in the cryptocurrency sector (and the corresponding benefits these increased regulations could have on privacy coin demand) haven't been enough to offset broader market weakness and a number of macro trends at play. Expand CRYPTO : XMR Monero Today's Change ( -11.71 %) $ -59.38 Current Price $ 447.65 Key Data Points Market Cap $8.3B Day's Range $ 447.92 - $ 507.03 52wk Range $ 186.14 - $ 796.09 Volume 155M Let's dive into what is driving the narrative around Monero right now and why investors are pulling back on a token that has otherwise seen incredible upside momentum in recent months. Liquidation data pointing in the wrong direction One of the key factors at play with Monero's recent decline (and again, I'd encourage investors to zoom out on the chart above) is mainly tied to the technical fundamentals that underpin most assets in the crypto sector. Given the amount of leverage used to trade top tokens such as Monero, liquidation activity among perpetual futures contracts and other derivatives traders use to bet on short-term price movements has an outsize effect on price swings. That's because many of these contracts are designed to provide massive payouts if an expected return over a given period materializes, but can wipe out investors in short order if a token's price swings the wrong way. More than $2 million of long bets (bullish bets on Monero appreciating) were wiped out over the past 24 hours on Sunday, with millions more liquidated over the course of th...
Fourth-quarter highlights Orders of $7.9 billion, including $4.0 billion of IET orders. Record RPO of $35.9 billion, including record IET RPO of $32.4 billion. Revenue of $7.4 billion, flat year-over-year. Attributable net income of $876 million. GAAP diluted EPS of $0.88 and adjusted diluted EPS* of $0.78. Adjusted EBITDA* of $1,337 million, up 2% year-over-year. Cash flows from operating activit...
Fourth-quarter highlights Orders of $7.9 billion, including $4.0 billion of IET orders. Record RPO of $35.9 billion, including record IET RPO of $32.4 billion. Revenue of $7.4 billion, flat year-over-year. Attributable net income of $876 million. GAAP diluted EPS of $0.88 and adjusted diluted EPS* of $0.78. Adjusted EBITDA* of $1,337 million, up 2% year-over-year. Cash flows from operating activities of $1,662 million and free cash flow* of $1,341 million. Full-year highlights Orders of $29.6 billion, including record $14.9 billion of IET orders. Revenue of $27.7 billion, flat year-over-year. Attributable net income of $2,588 million. GAAP diluted EPS of $2.60 and adjusted diluted EPS* of $2.60. Adjusted EBITDA* of $4,825 million, up 5% year-over-year. Cash flows from operating activities of $3,810 million and free cash flow* of $2,732 million. HOUSTON and LONDON, Jan. 25, 2026 (GLOBE NEWSWIRE) -- Baker Hughes Company (Nasdaq: BKR) ("Baker Hughes" or the "Company") announced results today for the fourth-quarter and full-year 2025. "Baker Hughes delivered exceptional performance in 2025. We continued to execute at a high level, delivering another quarter of strong results contributing to a record full‑year Adjusted EBITDA. This achievement demonstrates sustained momentum from our Business System, active portfolio management, and positive performance in IET, which more than offset continued macro‑driven softness in OFSE, where margins remained resilient through disciplined cost actions," said Lorenzo Simonelli, Baker Hughes Chairman and Chief Executive Officer. "IET delivered strong fourth‑quarter bookings of $4 billion, contributing to a record full‑year total of $14.9 billion, exceeding the high end of our guidance range. IET achieved a record backlog of $32.4 billion at year‑end, and book-to-bill exceeded 1x. For the second consecutive year, non-LNG equipment orders represented approximately 85% of total IET orders, which highlights the end‑market diversity and ver...
No one wants to pay more in taxes, but this rule change comes with a hidden upside. The whole point of saving money in a retirement account is to pay less in taxes, but that doesn't mean you can avoid them forever. If you don't want to pay taxes upfront, like you would with a Roth account, your next best option is to delay taxes until you've retired -- and, hopefully, dropped into a lower tax brac...
No one wants to pay more in taxes, but this rule change comes with a hidden upside. The whole point of saving money in a retirement account is to pay less in taxes, but that doesn't mean you can avoid them forever. If you don't want to pay taxes upfront, like you would with a Roth account, your next best option is to delay taxes until you've retired -- and, hopefully, dropped into a lower tax bracket. But as of Jan. 1, 2026, the IRS has limited some workers' ability to use this strategy with their traditional 401(k)s. If you're one of those affected, you might have to brace for a bigger tax bill next year. High earners must make Roth catch-up contributions going forward All workers can contribute up to $24,500 to a 401(k) in 2026, . They can use a traditional 401(k), a Roth 401(k), or both to do it. But a recent law change has made catch-up contributions -- additional contributions workers aged 50 and older are allowed to make -- more restrictive for high earners. Beginning this year, any worker earning more than $150,000 is only allowed to make Roth 401(k) catch-up contributions. This will force them to pay taxes on these funds when they file their 2026 return, rather than waiting years or even decades until they've retired. This could be costly, especially since these individuals likely fall into a high tax bracket. But it's not all bad news. After you've paid taxes on your Roth contributions, you can withdraw them tax- and penalty-free as long as you're at least 59 1/2 and have had the account for at least five years. What you can do to prepare for the change If you're affected by this change, you can continue to use a traditional 401(k) until you hit the standard $24,500 contribution limit that applies to adults under 50. After that, you must switch to a Roth 401(k) if you'd like to set aside more money for 2026. If your employer doesn't offer a Roth 401(k), you may not be able to save any more in your 401(k) this year. You can talk to an accountant who may be a...
Morgan Stanley is preparing to start trading physical power in Japan, the latest overseas financial institution looking to profit off the volatile market. The bank has designated a person to hire and lead personnel for its spot trading business, Alberto Tamura , head of Morgan Stanley Japan Holdings Co. , said in an interview last week. A spokesperson for Morgan Stanley declined to name the person...
Morgan Stanley is preparing to start trading physical power in Japan, the latest overseas financial institution looking to profit off the volatile market. The bank has designated a person to hire and lead personnel for its spot trading business, Alberto Tamura , head of Morgan Stanley Japan Holdings Co. , said in an interview last week. A spokesperson for Morgan Stanley declined to name the person. Access to the power market will enable the company to provide clients with energy hedging solutions in the long run, Tamura said. The move will be “a consistent and important driver of our revenues going forward,” he said. Liberalized almost a decade ago, Japan’s power market has attracted both domestic and overseas firms over the last few years, with the futures trading volume increasing rapidly. Severe weather patterns, more intermittent renewable energy sources coming online and uncertainties surrounding the nation’s nuclear power restarts all create volatility in the market and increase a need for hedging solutions. Read More: Hedge Funds Eye Volatile Asia Power Markets With New Hires Overseas firms have also taken steps to obtain licenses and open physical offices required to join the Japanese spot power market. Goldman Sachs Group Inc. last year acquired a license from the nation’s trade ministry . Morgan Stanley acquired a local power retailer to absorb its license in 2025, according to its spokespeople. The bank has traded Japan power futures in the past, they said.