OMAHA, Neb. — Warren Buffett, the legendary investor who transformed Berkshire Hathaway from a struggling textile mill into a $1 trillion-plus conglomerate, announced his resignation as chief executive officer on Wednesday, ending one of the most remarkable runs in American business history after more than six decades at the helm.
Warren Buffett Resigns as Berkshire Hathaway CEO After Historic 60-Year Leadership
The 95-year-old Buffett made the announcement during a special meeting of Berkshire’s board, confirming that Greg Abel, 63, who has been groomed as his successor for years, will assume the CEO role effective immediately. Buffett will remain chairman of the board, ensuring continuity during the historic leadership transition.
In a statement released by the company, Buffett expressed gratitude to Berkshire’s shareholders, employees and managers. “Berkshire has been my life’s work, and it has been an incredible privilege to lead this remarkable organization for so long,” he said. “The time has come to pass the baton to Greg, who is exceptionally well prepared to guide Berkshire into its next chapter. I have full confidence in his leadership and the incredible team around him.”
The news sent ripples through global financial markets. Berkshire Hathaway Class A shares, which trade at over $700,000 each, dipped slightly in early trading before recovering as investors digested the long-anticipated transition. Analysts described the move as expected but still emotionally significant for investors who have come to view Buffett as synonymous with the company.
Buffett took control of Berkshire Hathaway in 1965 when it was a failing New England textile manufacturer. Through his value-investing philosophy — buying high-quality businesses at reasonable prices and holding them for the long term — he built one of the most valuable companies in the world. Under his leadership, Berkshire’s stock delivered compounded annual returns of approximately 20% for decades, turning thousands of ordinary investors into millionaires through patient, disciplined ownership.
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The “Oracle of Omaha,” as Buffett is affectionately known, became a cultural icon. His annual shareholder letters were devoured by investors worldwide for their wisdom, wit and plain-spoken advice on business, investing and life. The Berkshire annual meeting, often called the “Woodstock of Capitalism,” drew tens of thousands of pilgrims to Omaha each year to hear Buffett and his longtime partner Charlie Munger dispense investment wisdom.
Munger, Buffett’s closest confidant and vice chairman, passed away in 2023 at age 99. His death marked the beginning of the end of an era, with Abel increasingly taking on more visible leadership roles. Abel, who joined Berkshire through its MidAmerican Energy subsidiary, has overseen the company’s non-insurance operations and earned Buffett’s trust through decades of steady, principled management.
Greg Abel’s ascension has been carefully planned. Buffett has publicly praised Abel’s business acumen, integrity and alignment with Berkshire’s distinctive culture of decentralization, long-term thinking and ethical conduct. In his 2024 shareholder letter, Buffett explicitly named Abel as his successor, ending years of speculation about who would lead the company after him.
The transition comes at a pivotal time for Berkshire. The company holds a massive cash position exceeding $180 billion, giving it significant firepower for acquisitions or share repurchases. Its diverse portfolio includes insurance giants GEICO and Berkshire Hathaway Reinsurance, railroads (BNSF), utilities (Berkshire Hathaway Energy), and iconic consumer brands like See’s Candies, Dairy Queen and Fruit of the Loom.
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Buffett’s resignation ends an unparalleled chapter in corporate America. His influence extended far beyond Berkshire — shaping generations of investors, business leaders and even public policy through his advocacy for higher taxes on the wealthy and philanthropic efforts. Through the Giving Pledge, which he co-founded with Bill Gates, Buffett has committed the vast majority of his fortune — currently estimated at over $130 billion — to charitable causes, primarily through the Bill & Melinda Gates Foundation.
The news of his departure elicited tributes from across the business and political worlds. Microsoft co-founder Bill Gates called Buffett “one of the greatest investors and most generous philanthropists of our time.” JPMorgan Chase CEO Jamie Dimon described him as “a once-in-a-generation figure whose wisdom shaped modern capitalism.” President Donald Trump posted on Truth Social: “Warren Buffett is a legend. He built something incredible. Congratulations on an amazing career!”
For Berkshire shareholders, the transition raises important questions about the company’s future without its iconic leader. Buffett’s approach — buying wonderful businesses run by wonderful people and letting them operate with autonomy — has been central to Berkshire’s success. Abel has pledged to maintain this culture while bringing his own perspectives to capital allocation and strategic direction.
Early indications suggest continuity rather than radical change. Abel has emphasized Berkshire’s decentralized model and long-term focus in recent public appearances. However, investors will be watching closely for any shifts in investment philosophy, dividend policy or approach to acquisitions as the new CEO settles in.
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The annual shareholder meeting on May 2 in Omaha will take on special significance this year. It will be Abel’s first as CEO, though Buffett is expected to attend and participate. The event, which typically draws tens of thousands of attendees, will serve as both a celebration of Buffett’s legacy and an introduction to Berkshire’s next chapter.
Buffett’s resignation does not mean the end of his influence. As chairman, he will continue to provide guidance and oversight. His substantial ownership stake — still over 15% of the company’s voting power — ensures his voice will remain important in major decisions.
For generations of investors who grew up reading Buffett’s letters and attending the annual meetings, today’s news marks the closing of a golden era. Yet many express confidence that Berkshire’s unique culture and strong bench of operating managers will allow the company to thrive under new leadership.
As Warren Buffett steps away from day-to-day leadership after more than six decades, his extraordinary legacy — built on integrity, patience and rational decision-making — will continue to inspire investors and business leaders around the world for generations to come.
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The Oracle of Omaha may be stepping down as CEO, but his influence on American capitalism and the art of investing is permanent. Berkshire Hathaway enters a new era, but the principles that guided it for 60 years are expected to endure.
Ford at the New York International Auto Show in New York City on April 2, 2026.
Danielle DeVries | CNBC
DETROIT — Ford Motor is set to announce first-quarter results after the markets close Wednesday.
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Here’s what Wall Street is expecting, based on a survey of analysts by LSEG:
Earnings per share: 19 cents adjusted
Automotive revenue: $38.82 billion
Those results would mark a roughly 3.7% increase in automotive revenue compared with a year earlier and a 35.7% increase in adjusted earnings per share, up from 14 cents.
Ford’s 2025 first-quarter results included $37.42 billion in automotive revenue, adjusted earnings before interest and taxes of $1.02 billion and net income of $471 million. Its total revenue, which includes its Ford Credit financing arm, was $40.7 billion.
Aside from earnings and any changes to the automaker’s 2026 guidance, investors will be monitoring effects from the Iran war, tariff impacts and any updates to production at key aluminum supplier Novelis following two fires. They’ll also be watching for any additional charges related to the automaker’s pullback in all-electric vehicles.
Ford announced plans in December to record about $19.5 billion in special items starting in the fourth quarter of 2025 related to a restructuring of its business priorities and EV investments. That includes $7 billion in 2026 and 2027, with a majority of $5.5 billion in cash charges through 2027 being recorded this year, Ford said at the time.
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The Detroit automaker’s 2026 guidance released in February included adjusted EBIT of between $8 billion and $10 billion, up from $6.8 billion last year; adjusted free cash flow of between $5 billion and $6 billion, up from $3.5 billion in 2025; and capital expenditures of $9.5 billion to $10.5 billion, up from $8.8 billion.
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East Yorkshire’s Premier Modular is moving towards round-the-clock production near Driffield
Coreena Ford Chronicle and Journal business writer and Sofie Jackson
17:11, 29 Apr 2026Updated 17:22, 29 Apr 2026
Inside the Premier Modular factory in Brandesburton, near Driffield(Image: Premier Modular)
An East Yorkshire firm that constructs modular buildings for high-profile clients — including the NHS, Manchester Airport Group, and Timpson — has announced plans for expansion and new job opportunities.
Premier Modular, based in Brandesburton near Driffield, is moving towards round-the-clock production to keep pace with surging demand for its modular solutions. Underlining its long-term dedication to regional investment and employment, the company’s new operating model will require additional workforce capacity and further job creation for the local community.
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Through a series of carefully phased ramp-up operations, Premier Modular’s factory is expected to generate an additional 1,000 production hours per week by May, rising to approximately 1,600 hours per week from July — representing a more than 300% increase in hours from the initial escalation stage in April.
To accommodate the growth, a further 40 to 50 positions are expected to be created as night-shift operations continue to develop. Recruitment will cover a broad range of roles, from entry-level posts to highly skilled trades, particularly within joinery, reports Hull Live.
Vacancies will also encompass forklift truck drivers, quality controllers, stores operatives, supervisors and production leadership positions.
The Premier Modular factory in Brandesburton, near Driffield(Image: Premier Modular)
David Harris, managing director of Premier Modular, said: “This growth is not just about increasing output, it is about investing in people. The decision to extend Premier Modular’s operations reflect both the scale of our future pipeline of work, and our dedication to developing our team.
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“We aim to ensure a smooth transition into our next phase of growth, while maintaining our high standards of quality and delivery. We remain committed to innovating, advancing and providing jobs that can develop skills and offer long-term career pathways, including through apprenticeships.
“We’re on a growth journey, and we want the local community to be part of that journey too.”
As Premier Modular bolsters its headcount, the number of apprenticeship opportunities is also expected to rise. Currently, 5% of its total workforce is already on apprenticeships programmes.
Purdue Pharma, the manufacturer of OxyContin, was sentenced in federal court on Tuesday and ordered to pay $5.5 billion for its role in fueling the opioid epidemic.
The sentencing comes after Purdue pleaded guilty in 2020 on charges of deceiving federal regulators and paying doctors to boost opioid sales. According to court documents, Purdue illegally marketed its opioid products, defrauded the DEA by misrepresenting the effectiveness of its programs and paid kickbacks to doctors through its doctor speaker program.
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“Purdue Pharma put profits over patient health and safety,” said Acting Attorney General Todd Blanche. “The company willfully rejected the law and ignored the diversion of their highly addictive prescription drugs. Their actions contributed to the opioid crisis that claimed countless lives and destroyed entire families and communities.”
“The opioid epidemic in the United States is a plague that has ruined lives and destroyed families,” said FBI Director Kash Patel. “Purdue Pharma complicitly contributed to this national epidemic in the name of their own greed by blatantly ignoring the health and safety of patients, putting countless lives at risk. The FBI and our DOJ partners will always work tirelessly to ensure that companies, like Pharma, pay for the harm they have inflicted and warn others that they will not get away with violating the law for personal gain.”
OxyContin maker Purdue Pharma was ordered to pay $5.5 billion as its sentence in an opioid epidemic-related criminal case. (Getty Images)
The court ordered Purdue to pay a criminal fine of $3.544 billion, which will be assessed in connection with the bankruptcy proceedings, and an additional $2 billion in criminal forfeiture, the DOJ says.
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U.S. District Judge Madeline Cox Arleo ordered Purdue Chairman Steve Miller to apologize directly to victims of the opioid pandemic who were in the courthouse on Tuesday.
Arleo allowed nearly seven hours of testimony from victims who spoke about Purdue’s role in the opioid epidemic.
A pharmacy tech pulls medication from a shelf inside a pharmacy in Provo, Utah on Aug. 7, 2025. (George Frey/Bloomberg via Getty Images)
“We are deeply apologetic for all of the things that happened that were described in colorful detail by all the victims here today,” Miller said, adding that the company, “deeply regrets and accepts responsibility.”
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Arleo also said authorities repeatedly failed to rein in Purdue.
Acting Attorney General Todd Blanche. (Alex Wroblewski/AFP via Getty Images)
“Your government failed you,” Arleo said. “The inadequacy of what the law can offer today must be plainly stated.”
Purdue Pharma, which was already preparing to pay $7.4 billion as part of a bankruptcy deal, addressed Tuesday’s sentence in a message on its website, noting that the company will cease to operate later this week.
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“On April 28, 2026, the U.S. District Court for the District of New Jersey sentenced Purdue Pharma L.P. in connection with its 2020 Plea Agreement with the U.S. Department of Justice. Purdue is operating as usual and without interruption until May 1, 2026, when it will permanently cease operations,” the message said. “On that day, substantially all of Purdue’s assets will be transferred to a newly formed company, Knoa Pharma LLC. Medicines distributed though Purdue will then be distributed by Knoa Pharma.”
The Big Money Show panel discusses the alarming new analysis showing Social Security and Medicare racing toward insolvency and warns that retirees face steep benefit cuts unless Washington acts fast.
A new proposal would allow Social Security beneficiaries to continue working without having their benefits diminished, which could make it easier for retirees to pay off their mortgages or more easily handle other expenses like property tax burdens.
The Senior Citizens’ Freedom to Work Act was introduced in Congress earlier this year and, if enacted, would allow individuals to receive Social Security benefits without having them reduced for earning income with the elimination of the retirement earnings test.
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Under current law, Social Security reduces benefits for retirees who claim before reaching their full retirement age (FRA) of 67 for most retirees. It also imposes a retirement earnings test that reduces benefits further for those who earn more than $24,480 annually – with benefit amounts lowered by $1 for every $2 earned above the cap.
While the reduction in benefits is returned to seniors when they reach their FRA, the bill’s sponsors note that seniors who may be unaware of that provision may choose to earn below that threshold to avoid the temporary reduction.
The Senior Citizens’ Freedom to Work Act would eliminate the retirement earnings test that can reduce benefits for working Social Security recipients. (Istock)
A pair of Republican lawmakers in Congress introduced the bill on a bicameral basis earlier this spring, with Sen. Rick Scott, R-Fla., and Rep. Greg Murphy, R-N.C., backing the legislation in the Senate and House in March and April, respectively.
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“American seniors’ ability to earn income and enjoy the dignity of work should not be penalized by arbitrary parameters to receive Social Security benefits,” Murphy said in a statement. “Current law unnecessarily complicates seniors’ right to access the benefits they paid into for the entirety of their careers and must be done away with.”
“While certain guardrails are in place to ensure the viability of Social Security and incentivize participation in the workforce, the retirement earnings test does neither and is a bureaucratic hurdle that does more harm than good,” he added.
Social Security currently reduces benefits for income earned through work that’s above a certain threshold. (Mark Felix/The Washington Post)
A report by Realtor.com noted that the share of seniors aged 65 and older remaining in the workforce has grown since 2014 in nearly every state, with the number of working seniors increasing by 52% in the last decade as compared with the general population’s growth of 33%.
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The analysis found that those increases coincided with the most expensive housing markets in the country, such as areas in the Northeast.
Sen. Rick Scott, R-Fla., introduced the Senate version of the bill. (Anna Moneymaker/Getty Images)
Realtor.com said that trend suggests that rising costs for insurance, property taxes and maintenance are putting pressure on older homeowners to continue working longer. Eliminating the retirement earnings test could help with those expenses as well as paying off any outstanding mortgage debt.
“This bill will get rid of the unfair retirement earnings test so that seniors who want to stay in the workforce can do so without being punished or robbed of their hard-earned benefits,” Scott said during a Senate aging committee hearing in late March.
BoT holds rate at 1%, cuts 2026 growth to 1.5% and 2027 to 2.0%
The Bank of Thailand’s Monetary Policy Committee (MPC) unanimously voted to maintain the policy interest rate at 1.0% on April 29, 2026, aiming to support an economy facing moderated growth and heightened uncertainty.
Key Points
Economic Growth: GDP growth projections have been lowered to 1.5% for 2026 and 2.0% for 2027, as rising energy costs and travel constraints negatively impact domestic consumption and tourism.
Inflation Outlook: Headline inflation is expected to average 2.9% in 2026—driven by global energy prices—before easing to 1.5% in 2027 as supply-side pressures eventually subside.
Export Performance: Merchandise exports are forecasted to maintain favorable growth, bolstered by sustained global demand for technology products.
Financial Market Volatility: Increased volatility has been observed in the baht and government bond yields, with the committee noting that financial institutions remain cautious regarding credit growth and loan quality due to the geopolitical climate.
Risk Monitoring: The MPC identified significant downside risks, including potential supply chain disruptions and prolonged high energy prices, particularly concerning the potential closure of the Strait of Hormuz.
Policy Flexibility: While the current rate is deemed appropriate, the committee remains prepared to monitor the economic impact of the war and adjust its stance if inflation expectations shift or if further fiscal stimulus is introduced by the government.
The committee concluded that current policy remains appropriate as the nation contends with supply-side inflationary pressures, increased business costs, and weakened household purchasing power stemming from the conflict in the Middle East.
UFC will take the grandest stage of them all in less than two months when some of the best fighters in the world will go blow-for-blow on the White House South Lawn.
But arguably the biggest summer the UFC has ever seen will kick off even earlier, as UFC announced Wednesday the upcoming Bud Light Summer Series, beginning at next month’s UFC 328 in Newark, New Jersey.
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The Summer Series includes the May event, UFC 329 in Las Vegas, UFC 330 in Philadelphia and other events to be determined.
UFC and Bud Light are teaming up for a summer to remember in and out of the octagon. (Bud Light)
“When you think about it, with what Bud Light’s putting together here, it’s going to be a summer like no other,” UFC in-ring announcer and Bud Light partner Bruce Buffer said to FOX Business. “They’re here making sure the fans are ready for all the action. They have plans all summer long. This isn’t a one-off.”
Bud Light’s senior vice president Todd Allen said in a release, “It’s going to be a summer unlike any other for UFC fans, and we’re pumped to collaborate with our partners at UFC to create the new ‘Bud Light UFC Summer Series’ that will help make five summer fight nights even more memorable for fans and their crew.”
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“It’s going to be a massive summer for our sport — the perfect time to bring together Bud Light, our UFC Fights, and unique ways to give our fans more reasons to celebrate,” added Sana Shuaib, TKO Global Partnerships’ senior vice president of partnership marketing and digital.
Bruce Buffer is an official spokesperson for Bud Light. (Bud Light)
The Summer Series will feature a concert at Toshiba Plaza outside of T-Mobile Arena in Las Vegas on Friday, July 10, during International Fight Week. Fans will also be able to receive limited-edition merchandise and see co-created social media content with notable UFC athletes.
Bud Light has been UFC’s official sponsor since 2023, and the company has grown to exponential lengths in that time, including moving to Paramount Plus for streaming, and partnerships with Bud Light is what makes the “rocket ship” continue to blast.
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“I got the first-class seat, and Dana White’s at the helm in the cockpit,” Buffer said. “It has just grown exponentially, tremendously, and it will continue to do so.
The Octagon during the UFC 180 event at Arena Ciudad de Mexico on Nov. 15, 2014, in Mexico City, Mexico. (Jeff Bottari/Zuffa LLC/Zuffa LLC via Getty Images)
“The future’s golden. Everything is golden. It’s all about how it’s marketed and how it’s run, and we all know it’s being marketed and run as best as it possibly can be.”
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