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Finance

Warren Buffett’s Berkshire makes big bet on US lender Ally Financial

Warren Buffett’s Berkshire Hathaway made a big bet on auto and home lender Ally Financial in the second quarter while increasing its wager on iPhone maker Apple despite signs that an economic slowdown is beginning to weigh on consumers. The investments, along with purchases of shares in video streaming service Paramount Global and oil majors […]

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World

Saudi prince made $500mn Russia bet as Ukraine war started

Kingdom Holding, one of Saudi Arabia’s highest-profile investors, poured hundreds of millions of dollars into Russian energy firms shortly before and after the invasion of Ukraine this year, the group disclosed in a filing on Sunday. Majority owned by Prince Alwaleed bin Talal, Kingdom made the investments even as western leaders sought to increase pressure […]

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US

The big global bet on the Indian Web3.0 ecosystem

By Rob Allen Blockchain and the broader category of distributed ledger technology (DLT) is fast-emerging as a transformative technology with the potential to reshape businesses and the internet for the better. With India being one of the fastest-growing and digitising economies, investors are aggressively infusing capital into blockchain/DLT and Web3.0 startups in India. Last year, […]

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Finance

FirstFT: Asset managers’ big crypto bet

This article is an on-site version of our FirstFT newsletter. Sign up to our Asia, Europe/Africa or Americas edition to get it sent straight to your inbox every weekday morning Good morning. Big-name money managers are stampeding into digital assets, discovering ways to monetise investor interest even as trading volumes and prices for bitcoin and […]

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Business

Don’t bet against short sellers in this market, Jim Cramer warns

CNBC’s Jim Cramer on Tuesday warned investors to avoid buying money-losing stocks in a bet against short sellers. The market went in favor of short-sellers on Tuesday after the major indices fell. The market teetered earlier in the day as it digested disappointing financial reports from companies and prepared for key inflation numbers later this […]

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Business

Buffer or bet against? Here are some new strategies for single-stock ETFs

Investors have had prolonged exposure to inverse and leveraged ETFs, mainly tied to investments like commodities, currencies and indexes. But in recent weeks, funds that provide that same type of exposure to a singular stock have entered the market as a new tool for short-term traders to bet on. Single-stock ETFs allow investors a leveraged […]

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Business

Why Mark Zuckerberg’s other big bet, outside the metaverse, is Whatsapp for business

Facebook’s new rebrand logo Meta is seen on smartpone in front of displayed logo of Facebook, Messenger, Intagram, Whatsapp and Oculus in this illustration picture taken October 28, 2021. Dado Ruvic | Reuters WhatsApp is already widely popular with U.S. consumers. Now Meta Platforms is turning more attention to building its small business base. The […]

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US

Patrón concocts cocktail-themed virtual quests in bigger bet on metaverse

Dive Brief: Patrón designed a virtual gamified experience on the Decentraland platform that can be experienced during two weekends in August, according to a press release.  “Summer Made Sensational: A PATRÓN Pop-Up Series” features cocktail-themed quests and virtual venues to explore. Visitors are greeted by a host and tasked by a bartender to seek drink […]

Categories
Sports

Tennis: Alex Eala routed by home bet in W25 Spain semis

Alex Eala at the W25 El Espinar/Segovia in Spain. Photo courtesy of Open Castilla y León Villa de El Espinar on Facebook MANILA – No. 4 seed Alex Eala of the Philippines missed the final of the W25 El Espinar/Segovia Spanish tournament after losing to No. 7 seed Eva Guerrero Alvarez of Spain, 2-6, 6-3, […]

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US

Meta’s profit slides due to big bet on proprietary metaverse

Meta (NASDAQ: META), formerly Facebook, reported its first ever revenue decline in Q2, while profits tumbled by more than one-third as its big bet on a proprietary metaverse continues to bleed money. On Wednesday, Meta reported revenue of $28.8 billion in the three months ending June 30, a 1% slip from the same period last year. […]