News from the world of finance

Berkshire Hathaway Inc on Saturday announced a $9.8 billion writedown and 10,000 job losses at its Precision Castparts aircraft and industrial parts business, as the coronavirus pandemic caused widespread pain for Warren Buffett's conglomerate.

Berkshire Hathaway Inc on Saturday announced a $9.8 billion writedown for its Precision Castparts aircraft and industrial parts business, as the coronavirus pandemic punished Warren Buffett's largest acquisition and caused 10,000 job losses.

Warren Buffett's Berkshire Hathaway Inc said on Saturday its quarterly operating profit fell 10%, and it took a big writedown for its Precision Castparts Corp unit, which has had struggles during the coronavirus pandemic.

Huawei Technologies Co [HWT.UL] will stop making its flagship Kirin chipsets next month, financial magazine Caixin said on Saturday, as the impact of U.S. pressure on the Chinese tech giant grows.

Nokia's new chief executive Pekka Lundmark said he will take time to re-acquaint himself with the Finnish telecom equipment maker as he works toward setting a strategy, as the company jostles for position in the highly political 5G race.

Chinese electric vehicle (EV) maker Xpeng Inc, backed by Alibaba and Xiaomi Corp , has filed to list its shares in New York, seeking to ride enthusiasm for EVs even as U.S.-China relations are strained.

As the S&P 500 approaches fresh highs, some investors hope to pick up bargains in the battered U.S. real estate sector, where values of some major stocks have been cut in half this year.

U.S. President Donald Trump vowed to unilaterally suspend payroll taxes and extend expired coronavirus unemployment benefits after negotiations with congressional Democrats on a broad pandemic aid package collapsed on Friday.

WarnerMedia executives Bob Greenblatt and Kevin Reilly, who oversaw the creation of the HBO Max streaming business, will leave as part of a broad restructuring focused around the streaming service, the company said on Friday.