Tencent joins Chinese tech firms investing in Singapore
Warren Buffett's Berkshire Hathaway invests big in Japan
New York (CNN)One of Berkshire Hathaway’s largest units, BNSF Railway, just named Kathryn Farmer as its first female CEO.
This appointment makes Farmer the first woman in America to lead a major railroad operator, the company announced Monday.
Farmer is taking the place of Carl Ice, who was worked at Berkshire Hathaway (BRKA) for 42 years. Farmer has been at BNSF for 28 years, and in her most recent role she served as the company’s Executive Vice President. Farmer will assume leadership of BNSF’s Board of Directors, the company said.
BNSF Railway, founded in 1849, operates approximately 32,500 miles of track in 28 US states and three Canadian provinces. The company has approximately 36,000 employees, and in 2019, BNSF shipped 10.2 million carloads, according to the company’s website. It claims to move enough grain to supply 900 million people with a year’s supply of bread, and it transports enough wheat flour in a year to bake more than 23 billion dozens of cookies.
BNSF Railway is just a sliver of Warren Buffett’s conglomerate, which also owns industrial manufacturers, auto dealerships, retailers and other companies. Some of the most notable companies it owns are Kraft Heinz, Benjamin Moore & Co., Duracell, Fruit of the Loom and Dairy Queen.
Treasury Announces Results Of Auction Of $22 Bln Worth Of Twenty-Year Bonds
The Treasury Department on Tuesday announced the results of this month’s auction of $22 billion worth of twenty-year bonds.
The twenty-year bond auction drew a high yield of 1.213 percent and a bid-to-cover ratio of 2.39.
Last month, the Treasury sold $25 billion worth of twenty-year bonds, drawing a high yield of 1.185 percent and a bid-to-cover ratio of 2.26.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
Since being reintroduced in May, the twenty-year bond auctions have had an average bid-to-cover ratio of 2.46.
Brazil: World's largest wetland faces record wildfires
More than 10,000 fires have broken out across the Pantanal region since the start of September – three times as many as last year.
The fire season is a lot worse than usual in Brazil’s Pantanal region, with the world’s largest wetland burning at a record pace.
More than 10,000 fires have broken out across the Pantanal since the start of September – three times as many as last year.
Al Jazeera’s Laura Burdon-Manley reports.
Apple Creates Subscription Bundles With Music, Streaming, News & More For $15 To $30 A Month
Apple has created a set of subscription bundles called Apple One, with three tiers ranging from about $15 to $30 a month.
Plans bring together music and video streaming, news, video games, fitness offerings and iCloud. The tech giant made the announcement during a virtual event primarily dedicated to product announcements regarding new Apple Watch and iPad models.
Individual includes Apple Music, Apple TV+, Apple Arcade, and 50 gigabytes of iCloud storage for $14.95 a month. Family includes Apple Music, Apple TV+, Apple Arcade, and 200 gigs of cloud storage for $19.95 a month, and can be shared among up to six family members. Premier includes Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+, and two terabytes of iCloud capacity for $29.95 per month, with up to six family members able to share.
The Individual and Family plans will be available in more than 100 countries and regions. The Premier plan will be available in Australia, Canada, the UK, and the U.S., where Apple News+ is available, and Apple Fitness+ will be added to the lineup later this year.
Hong Kong pro-democracy activists appear in court
More than 20 pro-democracy activists have appeared in a Hong Kong court accused of joining or organising a gathering on June 4 to mark the 1989 Tiananmen Square massacre – the gathering was prohibited due to the coronavirus pandemic.
More than 20 pro-democracy activists have appeared in a Hong Kong court accused of joining or organising an illegal gathering on June 4 to mark the 1989 Tiananmen Square massacre.
Their case has been postponed until next month.
Al Jazeera’s Divya Gopalan reports from Hong Kong, where there are growing concerns over freedom of speech.
Tencent joins Chinese tech firms investing in Singapore
Company forges on with global push after India, U.S. setbacks
Gaming giant Tencent Holdings Ltd. said on Tuesday it would develop a regional hub for Southeast Asia in Singapore, opening a new office and becoming the latest Chinese tech firm to invest in the city-State.
The new hub comes on the heels of a planned expansion by TikTok owner ByteDance and investment by Alibaba Group Holding Ltd. as firms look to deepen their exposure to fast-growing Southeast Asia — home to about 650 million people.
Singapore has also gained fresh appeal as a base for Chinese corporate operations, benefiting from the political tensions that have rocked rival hub Hong Kong and growing distrust of China in the United States and other parts of the world.
The plans highlight Tencent’s international ambitions despite setbacks in India where some of its apps have been banned and in the United States which has flagged an imminent ban on U.S. transactions relating to its WeChat messaging app.
“We view Tencent’s decision as a necessary step to extend its enterprise service offering (cloud computing business) to this new market,” said Alex Liu, an analyst with China Renaissance.
He also noted that Tencent had several minority investments in Southeast Asia and had been making deeper forays into the region’s gaming market.