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ADVERTISEMENTBillionaire investor Warren Buffet said on Saturday that he wants to step down as chief executive of Berkshire Hathaway at the end of the year. The revelation came as a surprise as the 94-year-old had previously said he did not plan to retire.Buffett, one of the world's richest people and most accomplished investors, took control of Berkshire Hathaway in 1965 when it was a textiles manufacturer. He turned the company into a conglomerate by finding other businesses and stocks to buy that were selling for less than they were worth.His...

If the trade war is making you fear for your portfolio, you're not alone.Institutional investors are also on high alert. Bank of America's latest Fund Manager Survey shows that the biggest money managers are concerned about President Donald Trump's trade policy sparking a global recession.The survey, which collected insights from fund managers globally between April 4 and 10 — right as markets were going haywire because of tariff announcements — revealed that investor expectations for global growth hit 30-year lows in April, with 82% of fund managers expecting a weaker economy...

KUWAIT CITY, March 26: The Counterfeiting and Forgery Investigations Department of the Criminal Security Sector, under the leadership of Major General Hamed Al-Dawas, has referred an Asian expatriate to the Public Prosecution on charges of counterfeiting Kuwaiti currency. The case file includes 19,000 Kuwaiti dinars in counterfeit banknotes (denominations of 20 and 10 dinars) from the fifth edition of the currency.Details of the CrimeInvestigations revealed that the accused, who worked at the Central Bank of Kuwait, believed his position would enable him to fraudulently exchange the counterfeit fifth-edition notes for authentic sixth-edition currency. According to a security source, the Central Bank initially detained...

Two of the largest banks in the US are reportedly locked in a legal battle over a $481 million commercial property loan. Wells Fargo is suing JPMorgan Chase, the largest back in the US, over accusations it greenlighted a real estate loan even though it allegedly knew that the financial statements were fraudulent, reports Reuters. In 2019, JPMorgan issued a loan to real estate development and investment firm Chetrit Group to finance the purchase of 43 multi-family buildings with 8,671 apartments across 10 states. Acting as the investors’ trustee, Wells...