BUSINESS HEADLINES

Berkshire Hathaway boosted stake in Alphabet, homebuilders in the second quarter

Berkshire Hathaway is increasing its stake in Google’s parent company, Alphabet. It is also boosting its holdings in homebuilders. The company also continued to pare its stake in financial companies and a number of other stocks in the April-June quarter. That’s according to a regulatory filing filed late Friday. The company agreed in June to invest $10 billion in Alphabet. It expanded its stake to roughly 106 million shares worth about $37.76 billion as of June 30. Berkshire also increased its investments in builder Lennar, Delta Air Lines and Macy’s, while reducing stakes in several financial companies, among others.

US civil rights agency denies issuing order halting all federal class discrimination complaints

NEW YORK (AP) — A civil rights agency accused of halting a sexual harassment case filed on behalf of female prison guards is now blaming an administrative judge for doing so in error. A labor union and two female prison guards sued the Equal Employment Opportunity Commission for indefinitely suspending proceedings in their case as part of a wider effort to halt all federal-sector class claims pending before the agency’s administrative judges. The EEOC enforces employment anti-discrimination laws.

US retail sales slump unexpectedly and sharply after a summer tax-refund boost fades

NEW YORK (AP) — Americans unexpectedly cut their spending in July by the biggest drop since May 2025, raising doubts about the resiliency of consumers who have kept spending and powering the economy despite the rising costs of daily expenses. Retail sales slipped 0.6% last month from a revised gain of 0.2% in June, according to Commerce Department data released Friday.

Luigi Mangione pleads guilty to federal stalking charges in the killing of UnitedHealthcare CEO

NEW YORK (AP) — Luigi Mangione has pleaded guilty to federal stalking charges in the killing of UnitedHealthcare CEO Brian Thompson. He admitted to following Thompson to an investor conference in 2024 and shooting him on a New York City street. The 28-year-old Mangione acknowledged his actions Friday at a hastily scheduled hearing in Manhattan. At sentencing, he faces life in prison. His lawyers are now seeking to dismiss a separate New York state murder case on double jeopardy grounds. The case has become a fulcrum for debate about the healthcare industry and made Mangione a cause célèbre for some of its critics.

Wall Street slips from its record following the latest weak update on the US economy

NEW YORK (AP) — U.S. stocks edged back from their all-time high following the latest economic report to come in surprisingly weak. The S&P 500 slipped 0.2% Friday from its record set the day before. The Dow Jones Industrial Average dipped 0.2%, and the Nasdaq composite fell 0.3%. Stocks gave up modest gains from the morning after oil prices swung higher. Also raising uncertainty was a report showing shoppers spent less at U.S. retailers last month. Such data could keep interest rates low, which is something Wall Street loves, but it also raises the risk of slowing economic growth when inflation is still high.

Online forum Reddit will join the influential and closely tracked S&P 500 index

NEW YORK (AP) — Reddit will join the S&P 500 next week, giving the wide-ranging online forum a boost in prestige and investments. The company will join the benchmark index as of Tuesday. The move comes weeks after Reddit posted strong financial results for the second quarter. That included its highest-ever quarterly revenue. The company has been posting profits almost every quarter since it went public in 2024. Joining the S&P 500 is considered an achievement for a company because the index is a widely followed measure of the broader stock market’s health. Inclusion in the index also means more investments.

How to help after Colombia’s devastating earthquake

Colombia is grappling with the aftermath of a 7.4-magnitude earthquake that struck Monday, affecting a large part of the western region. Authorities have confirmed at least 281 dead and nearly 100,000 affected. Hundreds remain missing. Colombian President Abelardo de la Espriella has promised a strong governmental response but aid groups are also crucial, as resources are spread across urban and remote areas. The disaster follows recent earthquakes in Venezuela, raising concerns about donation fatigue. Experts suggest cash donations to aid groups for flexibility. Here are some ways to support Colombia earthquake recovery, including both U.S. groups responding on the ground and some local organizations accepting outside donations.

An ‘influencer’ degree? Colleges bet on content creator major as critics question its value

Arizona State University has launched a new bachelor’s degree in content creation. The new major has sparked considerable interest and scrutiny. The program includes courses in traditional communication and media studies, along with skills-based classes in podcasting, studio production and on-camera presence. Critics question the legitimacy and value of such a degree. However, similar programs exist at other universities, reflecting a growing recognition of content creation as a viable career path. Experts note that while the creator economy is booming, most individual influencers don’t see a huge payoff. Proponents of these programs argue they teach transferable skills and can give students a leg up in an increasingly digital world.

Bezos and Saverin join a consortium buying a minority stake in Liverpool

LIVERPOOL, England (AP) — A consortium containing Amazon founder Jeff Bezos and Facebook co-founder Eduardo Saverin is buying a minority stake in Premier League club Liverpool. Club owner Fenway Sports Group says in a statement it has entered into a “definitive agreement” for the sale to 1892 Holdings. The investor group is led by Amit Bhatia. He is married to a daughter of Indian steel magnate Lakshmi Mittal and has taken a stake of more than 30% in the 20-time English champion according to Sky News. The deal reportedly values Liverpool at around $6 billion. Boston-based FSG paid $400 million to take over Liverpool in 2010 and also owns the Boston Red Sox.

Maryland tax court voids digital ad tax, orders refunds to Apple, Google and Peacock TV

ANNAPOLIS, Md. (AP) — A Maryland state tax court has struck down the state’s tax on digital advertising. The court says the tax violates the federal Internet Tax Freedom Act and parts of the U.S. Constitution. The decision, issued Friday, orders the state to repay digital ad tax money collected from companies like Apple and Google. Maryland introduced the tax in 2021 to fund education, expecting to raise $250 million annually. The law targeted large companies with global revenues over $100 million. Maryland officials disagree with the ruling and plan to continue the legal fight. The case has been closely watched by other states considering similar taxes.

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