
Apple CEO Tells Staff AI Is ‘Ours to Grab' in Hourlong Pep Talk
The executive gathered staff at Apple's on-campus auditorium Friday in Cupertino, California, telling them that the AI revolution is 'as big or bigger' as the internet, smartphones, cloud computing and apps. 'Apple must do this. Apple will do this. This is sort of ours to grab,' Cook told employees, according to people aware of the meeting. 'We will make the investment to do it.'
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CNN
a few seconds ago
- CNN
Warren Buffett's Berkshire Hathaway reports operating earnings drop 4% in Q2
Warren Buffett's Berkshire Hathaway on Saturday reported operating earnings for the second quarter fell 3.77% from the same time last year. It's the company's first earnings report since Buffett, 94, announced his plans to step down as chief executive at the end of the year and named Greg Abel, the vice chairman of non-insurance operations of Berkshire, as his successor. Berkshire reported $20.8 billion in operating earnings for the first six months of the year, an 8.8% decrease from the same time last year. Earnings for the second quarter totaled $11.16 billion. Net income in the second quarter fell to roughly $12.37 billion, down 59% from the second quarter last year. The company's insurance underwriting businesses, meanwhile, earned $2.53 billion total before income taxes, led by car insurer Geico, which is one of the largest insurance companies in the United States. Between May and July, the company's cash pile decreased to $344 billion for the first three months of the year. Berkshire was sitting on roughly $347 billion at the company's annual meeting on May 3. The company revealed Saturday that it took a $3.8 billion hit on its stake in packaged food giant Kraft Heinz Co. In 2019, Buffett told CNBC's Becky Quick that he 'was wrong in a couple ways' on the Kraft Heinz deal. The company again warned that President Donald Trump's tariff policies are contributing to an uncertain outlook. Trump's trade war escalated Friday with the new tariff rates announced on various US trading partners to take effect on August 7. 'We are currently unable to reliably predict the nature, timing or magnitude of the potential economic consequences of any such changes,' Berkshire wrote in its earnings regarding macroeconomic conditions and geopolitical events. Year-to-date revenue declined at clothing and toy brands Fruit of the Loom (11.7%), Garan (10.1%) and Jazwares (38.5%), in part due to 'uncertainties arising from international trade policies and tariffs, which produced delays in orders and shipments,' according to Berkshire's earnings. Berkshire's energy and railroad companies reported earnings increases from the same quarter a year ago, with BNSF Railway's earnings before taxes up 11.5% and BHE net income climbing 18%. Shares of Berkshire (BRK.B) closed at $472.84 on Friday. The stock is up 4.82% since the start of 2025. This is a developing story and will be updated.


Forbes
a minute ago
- Forbes
Investigating Weather With New Satellites
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CNN
a minute ago
- CNN
Warren Buffett's Berkshire Hathaway reports operating earnings drop 4% in Q2
Warren Buffett's Berkshire Hathaway on Saturday reported operating earnings for the second quarter fell 3.77% from the same time last year. It's the company's first earnings report since Buffett, 94, announced his plans to step down as chief executive at the end of the year and named Greg Abel, the vice chairman of non-insurance operations of Berkshire, as his successor. Berkshire reported $20.8 billion in operating earnings for the first six months of the year, an 8.8% decrease from the same time last year. Earnings for the second quarter totaled $11.16 billion. Net income in the second quarter fell to roughly $12.37 billion, down 59% from the second quarter last year. The company's insurance underwriting businesses, meanwhile, earned $2.53 billion total before income taxes, led by car insurer Geico, which is one of the largest insurance companies in the United States. Between May and July, the company's cash pile decreased to $344 billion for the first three months of the year. Berkshire was sitting on roughly $347 billion at the company's annual meeting on May 3. The company revealed Saturday that it took a $3.8 billion hit on its stake in packaged food giant Kraft Heinz Co. In 2019, Buffett told CNBC's Becky Quick that he 'was wrong in a couple ways' on the Kraft Heinz deal. The company again warned that President Donald Trump's tariff policies are contributing to an uncertain outlook. Trump's trade war escalated Friday with the new tariff rates announced on various US trading partners to take effect on August 7. 'We are currently unable to reliably predict the nature, timing or magnitude of the potential economic consequences of any such changes,' Berkshire wrote in its earnings regarding macroeconomic conditions and geopolitical events. Year-to-date revenue declined at clothing and toy brands Fruit of the Loom (11.7%), Garan (10.1%) and Jazwares (38.5%), in part due to 'uncertainties arising from international trade policies and tariffs, which produced delays in orders and shipments,' according to Berkshire's earnings. Berkshire's energy and railroad companies reported earnings increases from the same quarter a year ago, with BNSF Railway's earnings before taxes up 11.5% and BHE net income climbing 18%. Shares of Berkshire (BRK.B) closed at $472.84 on Friday. The stock is up 4.82% since the start of 2025. This is a developing story and will be updated.