According to Buffett's business partner Charlie Munger, US banks are burdened with "bad loans" for commercial real estate and a storm is developing in the market as values drop. Charlie Munger, a close friend of Warren Buffett and vice chairman of Berkshire Hathaway, told the Financial Times that...

According to OPEC Secretary General Haitham al-Ghais, the organization of oil exporting nations' actions are not intended to affect the price of fossil fuels. He made the statement in response to criticism from Fatih Birol, director of the International Energy Agency (IEA), who cautioned OPEC to...

The UN World Food Program will assist the EU nations in distributing extra Ukrainian grain to underdeveloped nations, said Martin Frick, Chief of the UN offices in Berlin and Brussels, in an interview with the Politico. "In this global food crisis, getting grain to some of the most underprivileged...

Janet Yellen, the secretary of the U.S. Treasury, issued a warning on Tuesday, stating that the failure of Congress to raise the government's debt ceiling and the ensuing default would result in a "economic catastrophe" and higher interest rates for years to come.   In prepared remarks for a...

By the end of 2024, the most popular cryptocurrency, bitcoin, may hit $100,000, according to Standard Chartered, which also said that the infamous "crypto winter" is passed.   According to Standard Chartered's head of digital assets research, Geoff Kendrick, Bitcoin could benefit from recent...

Brazil's business and political leaders are urging European investors to invest in the Latin American oil producer in order to allay fears about leftist President Luiz Inacio Lula da Silva's extravagant spending plans.   Brazil was an emerging market investment darling last year, thanks to...

As they silently pass each other while feverishly tapping their iPhones in the latest money-making fad, throngs of individuals have been seen gathering around the forecourt of a museum in central Seoul.   For users of the financial services app Toss from South Korean company Viva Republic,...

According to Delcy Rodríguez, Venezuela's vice president, the country has already lost $232 billion since 2015, when the US implemented sanctions against it. She claimed that the main effect of the sanctions has been a decrease in oil production. Ms. Rodríguez stated at a seminar on national unity...

The second-largest producer of lithium in the world, Chile, announced plans to hand over management of EV battery mineral production to a new state-owned firm.   Here are some pertinent details about lithium and EVs:   Lithium: What Is It?   The silvery-white element has the...