Salesforce saw shares rise in afterhours trading after reporting better-than-expected earnings and providing a favorable financial outlook.
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Charlie Munger Says Trouble is Coming for the U.S. Commercial Property Market
Charlie Munger, vice chairman of Berkshire Hathaway, told the Financial Times that the U.S. commercial property market is in trouble. “It’s not nearly as bad as it was in 2008,” he said. “But trouble happens to banking just like trouble happens everywhere else.”
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Regulators seized troubled First Republic Bank early Monday, making it the second-largest bank failure in U.S. history, and promptly sold all of its deposits and most of its assets to JPMorgan Chase.
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