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.”
Share:
More In Business
Olive Garden Parent Company Tops Wall Street Estimates
Darden, the parent company of chain restaurants like Olive Garden and Ruth's Chris Steakhouse, beat Wall Street estimates in its latest earnings report.
Former Exec Pleads Guilty to Stealing $4 Million From Facebook
A former Facebook executive pled guilty to stealing more than $4 million from the company while she was employed there.
Retailers Pull Children's Water Beads Toy Product
Rising safety concerns over water bead products marketed to kids have prompted major retailers like Amazon, Target and Walmart to pull some toys off their shelves.
Congressional Budget Office Projects Lower Inflation and Higher Unemployment Into 2025
The Congressional Budget Office said Friday it expects inflation to nearly hit the Federal Reserve's 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to rise into 2025, according to updated economic projections for the next two years.
Intel Announces New AI Chips
Intel is out with a new product to challenge other big players in the space like Nvidia and AMD.
Stocks Fall But Headed Toward Another Positive Week
Stocks fell after the opening bell Friday but will end on another positive week.
Securitize: The Private Credit Boom Is Here
Cheddar News' Need2Know is brought to you by Securitize, which helps unlock broader access to alternative investments in private businesses, funds, and other alternative assets. The private credit boom is here and the Hamilton Lane Senior Credit Opportunities Fund has tripled in assets under management in just six months from November 2022 through April this year. Visit Securitize.io to learn more.
Retail Sales Rise 0.3% in November as Americans Hit Gas, Not Brakes on Shopping, Travel, Restaurants
Americans picked up their spending from October to November as the unofficial holiday season kicked off, underscoring that shoppers still have power to keep buying.
Average Long-Term U.S. Mortgage Rate Dips Below 7% to Lowest Level Since Early August
The average long-term U.S. mortgage rate dropped below 7% to its lowest level since early August, another boost for prospective homebuyers who have largely been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale.
