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Howard replaces his father, Warren Buffett, as Berkshire Hathaway chairman
Business

Howard replaces his father, Warren Buffett, as Berkshire Hathaway chairman

The US$1 trillion conglomerate said the 96-year-old will become chairman emeritus and will take on his new role immediately Warren Buffett is stepping down as chairman of Berkshire Hathaway after serving in the role at the conglomerate for more than 50 years. Buffett, 96, will become chairman emeritus and will take on his new role immediately, the company said on Friday. His son, Howard, will become Berkshire Hathaway’s new chairman, part of a long-planned succession. Howard Buffett has been on the Berkshire Hathaway board since 1993. Warren Buffett will remain a director. He has served as Berkshire Hathaway’s chairman since 1970. Greg Abel took over for Buffett as the CEO of the US$1 trillion conglomerate to start the year, but Buffett remains one of the most influential investors in the world.

September 18, 2026
The Takaichi Fallout: Japan’s rate hike can’t fix what politics broke
Business

The Takaichi Fallout: Japan’s rate hike can’t fix what politics broke

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. Editor's note: Lin G. is a CGTN economic commentator. The views expressed in this article are the author's own and do not necessarily reflect those of CGTN. On Friday, the Bank of Japan delivered a long-anticipated yet highly reluctant interest rate hike, pushing its policy rate to 1.25%, the highest level in 31 years, in a difficult move aimed at countering the persistent downward pressure on the yen and stabilizing the country's exchange rate. This policy adjustment has pushed Japan deeper into a difficult monetary dilemma: leaving rates unchanged could prolong the downward pressure on the yen and add to external economic pressures, while raising rates risks placing further strain on an already fragile domestic economy and a heavily indebted government.

September 18, 2026
Academic: Higher rates could widen US wealth divide
Business

Academic: Higher rates could widen US wealth divide

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. Inflation and higher interest rates do not affect everyone equally. Warwick Powell, adjunct professor at Queensland University of Technology, says asset owners may benefit from higher returns, while households and businesses reliant on credit face rising costs.

September 18, 2026
Economist: Fed rate hike will not curb US inflation
Business

Economist: Fed rate hike will not curb US inflation

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. Much of US inflation is supply-driven, raising questions over how much higher rates can actually achieve. Liang Yan, Kremer Chair Professor of Economics at Willamette University, says further tightening could add pressure to an already struggling housing market and the wider economy.

September 18, 2026
BizTalk | Rate Decision Week in Focus
Business

BizTalk | Rate Decision Week in Focus

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. The US Federal Reserve has resumed rate hikes for the first time in three years, while the Bank of Japan has also raised rates to 1.25%. With energy prices elevated and inflation pressures persisting, central banks are turning more hawkish. Will tightening continue? And what does it mean for the dollar, yen, renminbi, bonds and gold? This week on BizTalk, we take a closer look at the new global rate cycle and its market impact.

September 18, 2026
China’s property sector enters the era of stock housing
Business

China’s property sector enters the era of stock housing

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. China's real estate industry has officially transitioned to a stock-phase development model, marking a pivotal structural shift in the country's urban housing landscape, senior housing officials confirmed on Friday. Chen Shaowang, vice minister of housing and urban-rural development, outlined the key development blueprint for the 15th Five-Year Plan period at a press conference hosted by the State Council Information Office. The upcoming five-year cycle will serve as a critical transformation window for China's three core urban development segments: urban and rural construction, residential and real estate markets, and the construction industry. The ministry summarized the industry's structural overhaul under a three-tier framework: two strategic shifts, two market transformations, and three industrial upgrades. Aerial view of the Southern Song Deshou Palace Ruins Museum, Hangzhou, Zhejiang Province, Oct. 24, 2025. /VCG The "two strategic shifts" apply to urban and rural development.

September 18, 2026
China brings culture and trade dialogue to WTO Public Forum
Business

China brings culture and trade dialogue to WTO Public Forum

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. At this year's WTO Public Forum in Geneva, China is highlighting both cultural exchange and its approach to global trade. A series of performances, exhibitions and policy discussions is taking place alongside the three-day forum. Julia Hamilton reports.

September 18, 2026
China’s ‘future Elon Musk’ solves daily problems with AI; vocabulary method draws 20 million views
Business

China’s ‘future Elon Musk’ solves daily problems with AI; vocabulary method draws 20 million views

Looking ahead, Yang is driven to become a programmer or AI researcher, determined to leave his own mark on the world A 13-year-old boy from eastern China has garnered significant attention online for his ability to leverage artificial intelligence and programming to solve everyday challenges. Yang Xizhe, a junior secondary school student from Hangzhou, Zhejiang province, stands at an impressive 1.9 metres tall and has amassed a following of over 500,000 on mainland social media platforms. Growing up in a city celebrated for its vibrant technology ecosystem, he identifies as an “AI native.” Yang believes that for his generation, AI is becoming as vital as air and water. In February last year, he gained recognition when a video demonstrating his use of AI to memorise English vocabulary attracted 20 million views.

September 18, 2026
Authorities aim to launch revamped Huanggang Port on October 12
Business

Authorities aim to launch revamped Huanggang Port on October 12

Start date will meet government’s fourth-quarter target, with travellers able to clear Hong Kong and mainland Chinese immigration under joint system Hong Kong’s redeveloped Huanggang Port could begin operations as early as October 12, allowing cross-border travellers to complete Hong Kong and mainland Chinese immigration procedures in a single inspection under a new joint clearance system. The South China Morning Post learned on Friday that authorities were targeting the date for the launch, although that would depend on the facility’s operational readiness. Launching on October 12 would meet the government’s target of starting operations in the fourth quarter of this year. Chief Executive John Lee Ka-chiu said in his policy address this week that the facility would adopt a co-location arrangement and introduce a new “collaborative inspection and joint clearance” model to improve the efficiency and experience of passenger clearance.

September 18, 2026
Factsheet series: Hong Kong’s debut 5-year plan and 2026 policy address
Business

Factsheet series: Hong Kong’s debut 5-year plan and 2026 policy address

Read the full article at the source →

September 18, 2026
US firm Waymo to launch robotaxi service in Singapore in 2028
Business

US firm Waymo to launch robotaxi service in Singapore in 2028

Trained specialists will drive Jaguar I-Pace vehicles and help Waymo adapt its technology to Singapore’s road layouts and other conditions Fully electric Jaguar I-Pace vehicles were due to arrive in the city state in the coming months, ahead of preparations for a commercial launch, the company said on Friday. From 2027, trained autonomous specialists will manually drive the vehicles to help Waymo adapt its technology to Singapore’s road layouts, monsoon conditions and other local features. The service is expected to open to the public through the Waymo app in 2028.

September 18, 2026
The story begins …
Business

The story begins …

Download the PDF This is the second part of a Factsheet series on Hong Kong’s debut five-year plan and the 2026 policy address. Click here for part one. The series was produced with support from the Hong Kong SAR government. To see the South China Morning Post’s coverage of the five-year plan, click here. This Factsheet will be available in the SCMP print edition on September 21. You can find it at newsstands and convenience stores. For any inquiries, contact printsupport@scmp.com.

September 18, 2026