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Warren Buffett's Berkshire Hathaway boosted its stake in Google parent Alphabet by $17 billion in the second quarter. The move makes Alphabet the third-largest holding in Berkshire's equity portfolio, according to a regulatory filing.
Wall Street trading firm Jane Street lost $15 billion during July's technology stock sell-off, the Financial Times reported. The hit is linked to the firm's concentrated bets on artificial intelligence-related positions as the sector's rally reversed sharply.
New Zealand casino operator SkyCity said it is reviewing its operating model amid sustained pressure on customers' discretionary spending, a process that could put hundreds of jobs at risk.
Tata Sons chairman N. Chandrasekaran will step down after opting out of reappointment, a move that sent Tata Group shares tumbling as much as 4%. His exit injects fresh uncertainty into the sprawling conglomerate, which spans everything from Jaguar Land Rover to tea.
ASB, one of New Zealand's big four Australian-owned banks, reported that its net profit dropped to $1.3 billion, with litigation costs cited as a factor. ASB is the first of the big four to report its New Zealand result this season.
Commonwealth Bank, Australia's second-largest company, announced a $10.9 billion full-year profit. Home loan applications have fallen 15 per cent since May, the bank reported alongside its results.
New Zealand-based rural business group PGG Wrightson reported a nearly 50% jump in full-year profit, crossing the billion-dollar revenue mark for the first time in six years. The results point to a notable recovery in the country's rural sector.
Major Wall Street banks have backed Nvidia CEO Jensen Huang's financing approach for the ongoing AI data-center build-out. The move extends a funding model that mixes debt and equity issuance to bankroll the infrastructure race.
Rocket Lab, led by Sir Peter Beck, posted record revenue and order backlog for the second quarter, though the company remained loss-making. The results landed alongside the space company's takeover bid for satellite communications giant Iridium. The figures point to continued rapid growth even as profitability remains elusive.