Heading into a new trading week, here is a quick roundup of the top five stories from the economic, corporate, and cryptocurrency sectors that investors would not want to miss out on from the weekend.
1. NATO Warns Russia About War Crime: NATO Secretary-General Jens Stoltenberg warned on Sunday that Russia’s potential use of chemical weapons against Ukraine would be a war crime.
2. Elon Musk Says Tesla, SpaceX Seeing Inflationary Pressure: Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk said that his electric vehicle company, as well as SpaceX, are seeing significant inflationary pressure for raw materials and logistics after commodity prices spiked to the highest level since 2008 over Russia supply fears.
3. Bitcoin Ban In Europe? Bitcoin (CRYPTO: BTC) may effectively be banned in Europe as a European parliamentary committee is set to hold a vote on the final version of a draft for governing cryptocurrency assets in the European Union on Monday.
4. Foxconn Suspends iPhone Production In Shenzhen: Apple Inc. (NASDAQ: AAPL) supplier Hon Hai Precision Industry Co. Ltd. (OTC: HNHPF) — popularly known as Foxconn — has halted production of iPhones at its site in the Chinese tech hub of Shenzhen due to a government-imposed COVID-19 lockdown.
5. Warren Buffett Raises Stake In Occidental Petroleum: Even as activist investor Carl Icahn exited his stake in Occidental Petroleum (NYSE: OXY), Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) CEO Warren Buffett has raised his stake in the oil company to 12.7% after purchasing an additional 27.1 million shares worth about $1.6 billion last week.
What Else: Among other stories from the weekend, investors would want to check out the EV week in review, Musk’s fulfillment of his pledge to “own no house” in California and Walt Disney Co.’s (NYSE: DIS) potential acquisition in the non fungible token (NFT) space.
Meanwhile, NFL legend Tom Brady — regarded as the best quarterback of all time — has changed his mind about retirement and will return to play for Tampa Bay Buccaneers next season.