Finance

Ajit Jain, Buffett’s insurance leader for nearly 40 years, dumps more than half of Berkshire stake

Ajit Jain at Berkshire Hathaway’s annual meeting in Los Angeles, California. May 1, 2021. Gerard Miller | CNBC Ajit Jain, Warren’s Buffett’s insurance chief and top executive, sold more than half of his stake in Berkshire Hathaway, a new regulatory filing showed. The 73-year-old vice chairman of insurance operations dumped 200 shares of Berkshire Class…

Finance

Stocks making the biggest moves midday: GameStop, Viking Therapeutics, Trump Media and more

Check out the companies making headlines in midday trading. Trump Media & Technology — The stock fell more than 13% following Tuesday’s debate between majority shareholder former President Donald Trump and Democratic Vice President Kamala Harris. On Wednesday, Trump Media hit its lowest intraday level since going public on the Nasdaq in late March. Rentokil…

Finance

Berkshire unloads another chunk of Bank of America as CEO Moynihan lauds Buffett as great shareholder

Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024.  CNBC Warren Buffett’s Berkshire Hathaway offloaded another chunk of Bank of America shares, bringing its total sales to more than $7 billion since mid-July and reducing its stake to 11%. The Omaha-based conglomerate shed a total of 5.8…

Finance

China’s AI models lag their U.S. counterparts by 6 to 9 months, says former head of Google China

Kai-Fu Lee, chairman and chief executive officer of Sinovation Ventures, speaks during the HICOOL Global Entrepreneur Summit on September 11, 2021 in Beijing, China.   China News Service | China News Service | Getty Images BEIJING — Chinese artificial intelligence models may be at least half a year behind those developed in the U.S., but Chinese…