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.”
Shares of U.K. chip designer Arm Holdings rose 10% in their stock market debut, in what is the largest initial public offering of shares in nearly two years.
