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Berkshire's Cash Reserves Hit Record $397 Billion

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**May 2nd** Berkshire Hathaway’s cash reserves hit a record $397 billion in the first quarter under CEO Greg Abel. The company’s cash position dipped slightly at year-end 2025 but jumped sharply in Q1 2026 on net stock sales of $8.1 billion. Additionally, Berkshire Hathaway Class A (BRK.A.N) reported: - Q1 2026 revenue: $93.675 billion (up from $89.725 billion year-over-year; topping the market consensus of $89.274 billion) - Net profit: $10.106 billion (up from $4.603 billion YoY; falling just short of the $11.762 billion estimate) - Operating profit: $11.35 billion (nearly 18% YoY gain) As of Q1 2026 end, the fair value of Berkshire’s fixed-income securities stood at $17.669 billion (down from $17.816 billion YoY). Breakdown: - U.S. bonds: $3.88 billion - Foreign bonds: $12.391 billion - Corporate bonds: $1.19 billion ### Notes on American English adaptation: - Uses **Q1** (standard quarterly abbreviation) instead of "first quarter" for brevity. - Replaces "market expectation" with **market consensus** (common in U.S. financial reporting). - Uses **YoY** (year-over-year) for concise comparison. - Structured with bullet points for readability (typical of U.S. news/financial alerts). - Swaps "announced" for **reported** (more accurate for earnings disclosures). - Simplifies "experienced a significant increase" to **jumped sharply** (colloquial, concise for quick updates).
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GameStop Pulls Off "Big whale swallows small fish" Move, Plans to Make Takeover Bid for eBay

**May 2 – Breaking News** GameStop CEO Ryan Cohen is planning a takeover bid for e-commerce giant eBay, aiming to transform the $450 billion market cap company into a $1 trillion+ retail powerhouse, multiple sources familiar with the matter confirmed. GameStop—currently valued at ~$11 billion—has quietly increased its eBay stake and could submit a formal offer as soon as later this month, insiders added. If eBay’s board rejects the bid, Cohen may launch a direct tender offer to eBay shareholders. Following the news, eBay’s stock surged over 10% in after-hours trading, while GameStop rose ~5%, per Bitget market data. GameStop holds ~$9 billion in cash as of March end—up from $4.8 billion a year prior—providing firepower for the “David vs. Goliath” deal. Cohen signaled earlier this year he was hunting for major consumer/retail acquisition targets to expand beyond video games and collectibles. He recently revised his compensation plan, with up to $35 billion in stock rewards ti

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An Alleged "Whale" Address Reaps Over 10x Gains on LAB, Profiting $1.13 Million

**May 2nd Update** Per EmberCN monitoring, the crypto asset LAB has surged 10x over the past month—climbing from $0.2 to $2.38. A suspected insider-trading whale address perfectly timed the rally: It accumulated 575,000 LAB ($128,000 worth) one month before the surge, when prices hovered at $0.2. Just 30 minutes ago, the whale transferred all 575k LAB to a centralized exchange to cash out. The holding is now valued at $1.26 million, netting the whale a $1.13 million profit.

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SKYAI Soars 1687% on Bitget Debut, Reaching a Peak Market Cap of $417 million

On May 2, AI project SKYAI skyrocketed 1687% on its first day of spot trading on Bitget—following its April 30 debut. Within three days, its market cap peaked at $417 million, with total spot trading volume hitting $240 million and contract trading volume reaching $630 million, underscoring a strong listing effect. SKYAI is currently trading at $0.388, and trading activity remains robust.

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The post-Buffett era's first Berkshire Hathaway shareholders meeting has begun, with the theme of "Legacy Continuance."

Berkshire Hathaway’s first shareholder meeting of the post-Buffett era kicked off at 8:00 PM UTC+8 tonight (May 2). This marks the first “Investment Oscars” hosted by new CEO Greg Abel since 95-year-old Warren Buffett stepped down as CEO and Abel officially took the reins. Titled “The Legacy Continues,” the meeting features Abel, insurance chief Ajit Jain, and subsidiary executives Katie Farmer and Adam Johnson fielding shareholder questions. Discussion centers on the company’s capital allocation, stock buybacks, tech holdings strategy, and future growth path. While Buffett remains present as non-executive chairman, the spotlight has shifted to 63-year-old Abel—signaling Berkshire’s formal entry into the post-Buffett era.

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The UAE Announces Full Restoration of Air Traffic Capacity within its Airspace

On May 2, the United Arab Emirates (UAE) General Civil Aviation Authority announced that airspace capacity across the country has returned to normal, and it has lifted previously imposed precautionary measures. The authority confirmed the decision followed a comprehensive assessment of operational and safety conditions—coordinated with all relevant stakeholders—while emphasizing ongoing real-time monitoring to uphold the highest standards of aviation safety.

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Iranian Official: Willing to Negotiate with the United States but Strongly Opposes Coercion, Does Not Want Prolonged Conflict

May 2 – Iran’s Chief Justice Ebrahim Raisi said Wednesday that Iran does not shy away from negotiations with the United States but strongly rejects U.S. coercion. He noted negotiations are reasonable and logical, but they do not mean accepting U.S. dictates—nor can Iran tolerate the U.S. imposing its will through threats. At the same time, Iran does not seek war and hopes no conflict breaks out. (CCTV International News)

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