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Warren Buffett omitted the Gates Foundation from his annual charitable stock gifts, directing all of this year’s donations to four family-linked foundations. Berkshire Hathaway said the 95-year-old chairman will donate 9 million Class B shares of Berkshire to the Susan Thompson Buffett Foundation and 1 million shares each to the Sherwood Foundation, the Howard G. Buffett Foundation and the Novo Foundation. “My goal is to dispose of all of my Berkshire shares within about eight …

Federal Reserve Chairman Kevin Warsh pledged Tuesday to “get monetary policy right” and defeat the inflation that has bedeviled the central bank for the past five years. In remarks for delivery to separate congressional panels this week, Warsh reiterated his recent tough talk on inflation, while also touting the strength of the U.S. economy and benefits coming from business investment, particularly involving artificial intelligence. “Today we are at a hinge point in history. It’s up …

BEIJING — Humanoid startup LimX Dynamics is getting ready to go public, just over four years after it was founded during the pandemic. “Listing is a must,” said founder Will Zhang, emphasizing the importance of timing. He was speaking to reporters ahead of the company’s announcement Tuesday that it had raised $200 million in a pre-IPO round. Zhang compared the situation to Chinese electric car startups Nio, Xpeng and Li Auto, which successively listed in …

The Federal Reserve is still expected by futures traders and prediction markets to maintain the status quo at its July meeting, leaving interest rates unchanged once again. However, it’s going to be a close call. The odds are rising Monday that the central bank makes a move to hike. There’s now a 46.5% chance that the Fed hikes interest rates by a quarter point on July 29, according to CME’s FedWatch tool. That’s up from …

Federal Reserve Governor Christopher Waller on Monday expressed concern about inflation but cautioned against “fighting the last war,” saying the central bank should wait for more data before raising interest rates. In remarks delivered for a speech in New York, Waller said inflation has expanded beyond the often-cited drivers such as the energy price spike in tariffs. Rather, he cited other factors, particularly artificial intelligence, as root causes for why price increases have held stubbornly …

Expectations are high that when banks start posting second-quarter results Tuesday, led by JPMorgan Chase and Bank of America, revenue from trading equities and fixed income will approach, or even exceed, the records set earlier this year. That’s a key part of what veteran analyst Mike Mayo of Wells Fargo calls the “sweet spot” in the financial sector right now. Both of banking’s profit engines — Wall Street and Main Street — are in growth …

Prediction market platform Kalshi is launching a product for its highly active traders on Monday, the company told CNBC. Kalshi Pro, now available to the public, is designed for speculators who trade multiple markets at the same time and or move with speed during live events, according to a memo provided to CNBC. The platform is also designed to support those who run resting orders, trades that don’t execute until certain prices are met, the …

Overlooked market areas may have a banner second half of the year. ETF Action co-founder Mike Akins is encouraging investors to boost exposure to groups that underperformed compared with major artificial intelligence stocks. He told “ETF Edge” this week that his list includes software and cloud computing names. Many have fallen from “nosebleed valuations” and have “very strong growth scenarios.” “These companies prove that ‘yes,’ we still do need software to do our day-to-day jobs,” …

Private chefs are making up to $300,000 a year, and butlers can earn as much as $180,000 as the wealthy hire more household staff to manage their increasingly complex lives, according to a new study. Demand for chefs, personal assistants, butlers, nannies, housekeepers, chauffeurs and estate managers have reached records as the wealthy buy more homes in various locations and manage ever-growing families, according to a report from Morgan & Mallet International. The hiring boom …

Federal Reserve Chairman Kevin Warsh on Thursday released names of the experts who will comprise five task forces to examine the institution’s operations — a list that includes several prominent Wall Street names, business leaders and a wide expanse of academicians and former Fed officials. Warsh first disclosed his intention to create the task forces last month, saying they would tackle communications, data, the Fed’s balance sheet, data, productivity and jobs and the framework for …