In Short:
– Berkshire Hathaway sold its entire stake in BYD, concluding a 17-year investment with 4,000% returns.
– BYD faces challenges, lowering its sales target after a 30% decline in net profit for the second quarter.

Warren Buffett’s Berkshire Hathaway has sold its entire stake in the Chinese electric vehicle manufacturer BYD, concluding a 17-year investment that yielded around 4,000% returns.

A filing from Berkshire Hathaway Energy indicated that the investment’s value fell to zero as of March 31, 2025, from a peak of $415 million at the end of 2024.

The original investment, supported by the late Vice Chairman Charlie Munger, involved the purchase of 225 million BYD shares in 2008.

Munger previously praised BYD and its founder, stating that the company’s growth from a startup to a leading battery and automotive manufacturer was remarkable.

Market Reaction

BYD is currently facing domestic market challenges, reporting a 30% decline in net profit for the second quarter, attributed to an intense price war in the EV sector.

Its annual sales target has been lowered by 16% to 4.6 million vehicles. Following the news of Berkshire’s exit, BYD’s shares fell by 3.4% in Hong Kong.

In Short:
– Trump announced a $100,000 fee on new H-1B visa applications, starting next lottery cycle.
– Major companies urge H-1B holders to stay in the U.S. due to potential immigration issues.

Major technology companies and foreign governments are reacting to President Donald Trump’s announcement of a $100,000 fee on H-1B visas.

The charge will affect new applicants, not renewals or current holders, and is set to take effect in the next lottery cycle.The proposed fee could significantly impact technology and finance sectors reliant on skilled immigrants, particularly from India and China.

Companies such as Amazon, JPMorgan Chase, Goldman Sachs, and Microsoft are advising their H-1B visa holders to remain in the U.S. and be cautious about international travel due to potential immigration status issues.

Visa Implications

As Trump’s administration intensifies its immigration policies, major companies and officials abroad are assessing the implications.

The Indian Ministry of External Affairs noted potential humanitarian consequences, highlighting disruptions for families. South Korea’s foreign ministry is also reviewing impacts on its skilled workforce.

Trump’s initiative aims to prioritise American workers and deter visa system abuses, according to a White House spokeswoman.

The full effects of this policy shift remain to be seen, with many companies weighing their next steps in response to this change.

In Short:
– Trump and Xi are progressing on a TikTok agreement and plan to meet in South Korea soon.
– Future discussions will address trade, security concerns, and regional tensions between the U.S. and China.

U.S. President Donald Trump and Chinese President Xi Jinping made headway on a TikTok agreement and plan to meet in South Korea within six weeks.

Their call aimed to reduce tensions between the two superpowers, covering trade, illicit drugs, and the conflict in Ukraine. Despite suggestions of progress, a definitive agreement regarding TikTok remains unclear.

The leaders agreed to further discussions at the Asia-Pacific Economic Cooperation forum in October.

Trump indicated that Xi would visit the U.S. later and that he would head to China next year.

Future Discussions

Trump confirmed that the TikTok deal is progressing, noting potential US control over the app’s algorithm.

Uncertainties remain, including ownership structure and control dynamics with ByteDance. Lawmakers express concerns over national security implications stemming from continued Chinese involvement.

Trump’s tariffs on Chinese exports have increased significantly, complicating relations further.

As trade discussions continue, regional tensions in Taiwan and the South China Sea remain on the agenda, though unaddressed in recent communications.