The 94-year-old billionaire has announced plans to step down as CEO of Berkshire Hathaway at the end of the year after 60 years at the helm.   While the mainstream press and business leaders from Tim Cook to Jamie Dimon sing his praises as a “visionary” standard bearer of “ethical investing” with “unmatched business acumen and philanthropic contributions,” here are the shabbier aspects of Buffett’s legacy.   🏴‍☠️ Corporate Piracy...

After the 2008 financial crisis, the US money managers took control over major banks & industries in Europe. Let's break down how   ❓What are mega-funds?   ▪️BlackRock, Vanguard, Fidelity, State Street, Morgan Stanley, and JPMorgan. They control $36.4T+ in assets. ▪️That's MASSIVE power to consolidate controlling stakes in systemically important industries across the globe — including Europe.   💵New (corporatocratic) world order ▪️Mega-funds enjoy strong...

The administration’s new cross-the-board duties have triggered a worldwide selloff, with stock prices suffering another big drop after markets opened Monday as the new reality set in.   Trump’s Tariff Policy Is in Part a Containment Strategy to Deal With the China Threat Whereas 10 years ago it was commonly believed that the Chinese economy was about to pass that of the United States, China’s economy today is less than two-thirds of that of the United States, and it...

These routes don’t just carry goods...   ◼️ASIA-EUROPE ROUTE     Connects Asia’s commercial hubs (China, Japan, South Korea) with European markets like France, Germany, and the Netherlands. The Suez Canal is the shortcut that links the Mediterranean to the Red Sea.  ◼️TRANSATLANTIC SHIPPING ROUTE     Stretches across the Atlantic, linking North America 🇺🇸🇨🇦 with Europe. It’s key for transporting electronics, automobiles, machines,...

Countries across the world added 1,044.6 metric tons (MT) of gold to their vaults last year. What did the process look like?    ▪️2024 became the third year in a row that gold purchases in this segment surpassed the 1,000 MT mark, the World Gold Council (WGC) reports.  ▪️The central banks increased the volume of gold purchases between 2021 and 2024 by more than two-fold. ▪️The share of gold in global gold and foreign exchange reserves grew from 12.9% in late 2021 to 15.3%...

The well is estimated to hold between 1,6 and 8,3 million standard cubic meters of oil equivalents, or 10-52 million barrels, the Norwegian Offshore Directorate informs.   It is located near Goliat, the oil field operated by company Vår Energi. The discovery was made by Cosl Prospector, a semisubmersible owned and operated by COSL Drilling Europe. The company is the European branch of Chinese state-owned enterprise China Oilfield Services (COSL).  Cosl Prospector...

The 31st Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting will be held on November 15-16, 2024, in Lima, Peru. Leaders of APEC economies will meet for dialogues on November 15, with the official part of the meeting scheduled for November 16. The Russian delegation will be led by Deputy Prime Minister Alexey Overchuk.    [UPDATE] APEC Summit declaration takes Russia’s interests into account, says Deputy Prime Minister Russia is satisfied with...

The Iranian rial traded at 703,000 to the dollar, signaling Iranian fears that Trump could punish Iran with harsh sanctions over its yearlong war on Israel.   Iran’s already ailing national currency cratered after Donald Trump’s election victory, heralding tough times for Tehran’s economy as the former president prepares for another term in the White House. The Iranian rial traded at 703,000 to 1 American dollar early Wednesday, an all-time low, before...

France is experiencing an unprecedented budget crisis. The deficit is at risk of exceeding 6% in 2024. France now risks bankruptcy, which could drag the entire Eurozone into the abyss.   The French government is facing an alarming financial situation. The deficit may exceed 6% in 2024, which will force the government to plan a budget cut of 60 billion euros for 2025. Despite this drastic step, public spending will continue to increase by 2.1%. This situation raises difficult...

In 2023, cyber-attacks from data breaches to hostile account takeovers were estimated to have cost $8tn globally.   This year, that is expected to rise to $9.5tn, as reported by research company Cybersecurity Ventures. The rise of AI technology is likely push this even higher, almost doubling in the next six years. A survey conducted from 2018-23 with industry leaders by Statista revealed that cyber-attacks are one of the biggest threats to business, with a third saying such...

Many have spoken about the tactical and PR goals of the AFU operation on Russian territory.   But another aspect must be considered - the AFU members are essentially free colonial troops for the West, and losses in equipment will lead to new orders for the American military-industrial complex, which Europeans will be forced to pay for. Therefore, the costs of the media effect are justified. 🔻Continuation of the War for the EU Energy Market The collective West is trying to squeeze...

Waterway is a crucial source of foreign currency for Cairo, but shipping firms have been taking alternative routes since Iran-backed rebels started attacks in solidarity with Hamas   The Suez Canal’s annual revenue dropped by almost a quarter in its latest financial year as some shippers switched to alternative routes to avoid attacks by the Iran-backed Houthis in the Red Sea and Gulf of Aden. Osama Rabie, the head of the Egyptian canal’s authority said on Thursday...