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Here’s what you need to know
Warren Buffett changed his mind about TSMC. His company Berkshire Hathaway cut its holding of the chipmaker by 86% just three months after investing $4.1 billion.
Air India ordered 470 planes from Boeing and Airbus. Valued at an estimated $85 billion, it’s the biggest deal in commercial aviation history.
A Goldman Sachs-backed tech founder was charged in a $67 million offering fraud. US regulators accused Slync’s ex-CEO Chris Kirchner of using investors’ money to fund his lavish lifestyle.
Louis Vuitton picked Pharrell Williams as its menswear creative director. The multiple Grammy-winning artist follows in Virgil Abloh’s footsteps.
Subway posted a “for sale” sign. The sandwich chain tasked JP Morgan with exploring a possible sale that could be worth more than $10 billion.
Workers at a Tesla factory are trying to unionize. A successful campaign would mark the formation of the electric vehicle company’s first union in the US.
Mexico softened its stance on genetically modified corn. The country will allow imports of the grain from the US—but only to be used as animal feed, and not for human consumption.”
What to watch for
JD.com is calling it quits in Thailand and Indonesia.
Starting today (Feb. 15), the Chinese e-commerce giant won’t be processing any more orders in those markets. This is the first step in an exit strategy unfolding in stages to give customers time to use up their balance and pay off any loans.
The online retailer made a key mistake in its approach to the southeast Asian markets. JD tried to build something from the ground up, in joint ventures with Provident Capital in Indonesia in 2015 and Central Group in Thailand in 2018, while its Chinese competitors Alibaba and Tencent took the safer route of backing existing firms.
JD’s focus is now returning to China, where it remains a large fish in a big pond, and where a renewed consumer appetite for shopping puts the company in a prime position to claw some more market share.
Nikki Haley has entered the presidential ring
Nikki Haley announced Tuesday (Feb. 14) that she will run for US president in 2024. The former South Carolina governor and US ambassador to the UN has become the first challenger to pit themselves against Donald Trump in the Republican presidential primary.
The 51-year-old is scheduled to deliver remarks today (Feb. 15) in Charleston at a campaign launch event. The early start to her bid could be an advantage over other rumored GOP contenders-to-be, including South Carolina senator Tim Scott and Florida governor Ron DeSantis.
Haley, whose full name is Nimrata “Nikki” Randhawa Haley, described herself as the “proud daughter of Indian immigrants” in her campaign announcement, no doubt seeking to tap into the Indian-American vote. At 2.7 million strong, Indians are the second largest US immigrant group, and could be a boon to Haley’s presidential bid.
US inflation is still too hot
Inflation in the US is much like a batch of cookies fresh from the oven: cooling, but still too hot to enjoy.
The US Federal Reserve said consumer prices rose 0.5% from December to January, faster than the agency is comfortable with. But if you hear whispers that wages are to blame for persistent inflation, think again.
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Surprising discoveries
Pablo Neruda may have been poisoned. Fifty years after his death, forensic experts could have evidence of a murderous plot against the poet.
Spoons are the most romantic utensil. The Welsh tradition of carving “love spoons” will scoop you off your feet.
The most wanted car plate in Hong Kong features a single “R.” The lucky letter sold at auction for just over $3 million.
Hardboiled detectives scrambled a heist... Someone in Shropshire, England tried to eggscape with 200,000 Cadbury Creme Eggs.
…while fake eggs are now the same price as real ones. Maybe it’s a sunny upside to the otherwise cracked egg market.
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