As Wall Street mourns the passing of 99-year-old investment legend Charlie Munger, Federal Reserve top brass gave one of the clearest signals yet that the central bank's 20-month tightening campaign is over at last. The death of Berkshire Hathaway's Munger leaves 93-year Warren Buffett without his long-term lieutenant and the conglomerate's lone star name, focusing minds on long-planned succession and the lesser-known managers due to take over. But back in the markets, the Fed's policy pivot was all the rage as Treasury yields and dollar plunged anew.
(Bloomberg) -- Jack Ma urged Alibaba Group Holding Ltd. to correct course in a surprise internal memo, in which the billionaire called for fundamental change across the company he co-founded decades ago.Most Read from BloombergCharlie Munger, Who Helped Buffett Build Berkshire, Dies at 99Musk’s Cybertruck Is Already a Production Nightmare for TeslaHamas Releases 12 Hostages Despite Claims of Truce ViolationsBill Ackman Bets Fed Will Cut Interest Rates as Soon as First QuarterIndia to Add $5 Bill
(Bloomberg) -- Lei Jun, the billionaire co-founder of Chinese smartphone maker Xiaomi Corp., made a record cash donation to his alma mater, Wuhan University, adding to a surge in pledges by the nation’s richest. Most Read from BloombergCharlie Munger, Who Helped Buffett Build Berkshire, Dies at 99Musk’s Cybertruck Is Already a Production Nightmare for TeslaHamas Releases 12 Hostages Despite Claims of Truce ViolationsBill Ackman Bets Fed Will Cut Interest Rates as Soon as First QuarterIndia to Ad