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On September 18th, according to CNBC, legendary investor Warren Buffett, 96, announced in a letter to shareholders on Friday that he will step down as chairman of Berkshire Hathaway (BRK.AN, BRK.BN). The company also issued a statement saying that Buffett will serve as chairman emeritus, effective immediately, while remaining a member of the board of directors. According to a long-established succession plan, his son Howard Buffett will succeed him as chairman, and Susan Dirk will continue to serve as lead independent director. This decision comes approximately nine months after Greg Abel took over as CEO, while Buffett retained the chairmanship. In a company statement, Abel said, "The culture Warren built and the values he championed will always be at the heart of Berkshire, and Howard will be a guardian of those values."Berkshire Hathaway (BRK.AN, BRK.BN): Susan L. Decker will continue to serve as lead independent director.On September 18th, European Central Bank President Christine Lagarde stated on Friday that she could still consider stepping down early, responding to a question about whether she would remain in office until the end of her term in October 2027 with, "Well see." "I will leave in 2027," Lagarde said in response to persistent rumors circulating for most of this year that she might resign early. When asked if this meant until October 2027, Lagarde replied, "Well see." She added, "What I can tell you at this time is that whenever it happens, I will handle matters in the most professional manner." This week, sources told Reuters that France would support ECB Governing Council member Knott succeeding Lagarde as part of an agreement that a French candidate would then serve as chief economist.September 18th - According to CNBC, sources revealed that Anthropic and OpenAI are actively seeking smaller AI data center collaborations as competition intensifies for the infrastructure needed to deploy workloads. Over the past year, both AI labs have signed massive agreements involving hundreds of megawatts to gigawatts of AI data center capacity, but sources indicate that the companies are now also seeking agreements for much smaller deployments of computing power, ranging from 20 to 30 megawatts. Four sources revealed that Anthropic has approached the UK and Nordic countries regarding agreements in this capacity range; two of these sources indicated that OpenAI has previously explored opportunities for such small-capacity deployments in the Nordic region. One source stated that they also understand Anthropic and OpenAI have discussed a similar capacity deployment in the United States.Tencent Holdings (00700.HK) repurchased 237,000 shares on September 18, spending approximately HK$100 million.

Two Trades to Watch: DAX, GBP/USD

Jimmy Khan

May 07, 2022 10:43


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The DAX is falling as industrial output declines.


After a slaughter on Wall Street that saw the Nasdaq finsh 5% down, European equities have begun in the red, extending losses from the previous day.


Fears of inflation, stagflation, and recession are weighing on the market as we approach the weekend. The DAX is expected to shed 1.4 percent this week, marking the fifth consecutive week of losses.


In March, German industrial output decreased -3.9 percent on a month-over-month basis, down from 0.2 percent in February and considerably below the -1 percent drop forecast. The negative report comes on the heels of a sharp drop in German manufacturing orders in March. The data represents the economic effect of the Russian conflict on Germany and the Eurozone as a whole.


Germany does not have any additional statistics due today. Sentiment and the US NFP announcement will affect European indexes.