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BRASILIA, Nov 27 (Reuters) – Brazil’s economy created a net 85,147 formal jobs in October, data from the Labor Ministry showed on Thursday, below the 105,000 expected by economists in a Reuters poll.
The net figure accounts for 2,271,460 jobs opened and 2,186,313 closed during the period, the ministry said.
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It was the lowest monthly net formal job creation since March, and the lowest for any October since the indicator’s methodology changed in 2020, adjusted data showed.
From January to October, 1,800,650 net jobs were created, down from 2,126,843 in the same period last year, according to the adjusted data.
Reporting by Victor Borges in Brasilia; Writing by Andre Romani; Editing by Gabriel Araujo and Leslie Adler
Our Standards: The Thomson Reuters Trust Principles.
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Deutsche Börse has launched a bid to buy private equity-backed fund platform Allfunds for €5.3bn, as the German exchange group seeks to expand.
Deutsche Börse said on Thursday it had entered into exclusive discussions with Allfunds regarding a potential acquisition, saying a deal would “reduce fragmentation in the European investment fund industry and create a harmonised business with global reach”.
Amsterdam-listed Allfunds currently has a market capitalisation of €4.9bn and is backed by investors including US private equity firm Hellman & Friedman, which has previously explored a sale of the company. Deutsche Börse’s rival Euronext sought to buy the fund company in 2023 for €5.5bn, but dropped the bid.
A takeover would pave the way for an exit by Hellman & Friedman, which acquired Allfunds in a €1.8bn deal in 2017 before taking it public in 2021. Between them, the private equity group and Singaporean sovereign wealth investor GIC own about 35 per cent of the company’s shares.
An agreement would be the latest in a string of liquidity events for Hellman & Friedman, which last month pulled off one of the largest European initial public offerings of recent years when it took security services company Verisure public in Stockholm at a €13.7bn valuation.
Deutsche Börse is offering €8.80 per share for Allfunds, a roughly 8 per cent premium to the company’s closing share price on Thursday. Shares in Allfunds closed 22 per cent higher, after Bloomberg earlier reported the potential deal.
Deutsche Börse runs the Frankfurt stock exchange as well as derivatives exchange Eurex. A deal for Allfunds would mark its biggest acquisition in recent years, after the German group’s purchase of software company SimCorp for €3.9bn in 2023.
Allfunds helps connect fund management products with investors, charging buyers to access its platform and charging sellers to offer their products such as exchange-traded and mutual funds. It has more than €1.7tn in assets under administration and works with thousands of fund groups.
Deutsche Börse said a deal would expand its fund services arm, and would “significantly benefit” EU equity markets, adding that it strongly believes that “a prospering funds industry [is] essential to the EU’s status as a globally relevant financial centre”. European policymakers have for years tried to encourage more investment in the bloc.
Under the terms of the proposed deal, Deutsche Börse said Allfunds shareholders would also be entitled to dividends of up to €0.20 per Allfunds share for the financial year 2026 and €0.10 per share per quarter in 2027.
Warren Buffett has officially signaled the end of an era. In a move that marks the closing chapter of his historic tenure, the 95-year-old Oracle of Omaha released a letter to Berkshire Hathaway shareholders earlier this month that outlines his departure as CEO and the cessation of his legendary annual reports. While families across the country gather for turkey and gratitude today, the investment world is digesting a different kind of serving: the definitive “going quiet” of its most celebrated figure.
Buffett’s letter, dated November 10, confirms that his longtime lieutenant, Greg Abel, will assume the role of CEO at year-end. But the most poignant shift is in Buffett’s communication. For decades, his annual shareholder letters have been scripture for investors—a mix of folksy wisdom, financial acuity, and candor. Now, he says, that tradition is over.
“I will no longer be writing Berkshire’s annual report or talking endlessly at the annual meeting,” Buffett wrote in the letter. “As the British would say, I’m ‘going quiet.’ Sort of.”
This “sort of” is classic Buffett misdirection. While he is stepping back from the grueling demands of running the $1 trillion conglomerate, he intends to keep a singular line of communication open. “I will continue talking to you and my children about Berkshire via my annual Thanksgiving message,” he assured shareholders. “Berkshire’s individual shareholders are a very special group who are unusually generous in sharing their gains with others less fortunate. I enjoy the chance to keep in touch with you.”
The letter was accompanied by a tangible act of that generosity. Buffett converted 1,800 Class A shares into 2.7 million Class B shares—valued at approximately $1.35 billion—donating them immediately to four family foundations: The Susan Thompson Buffett Foundation, The Sherwood Foundation, The Howard G. Buffett Foundation, and the NoVo Foundation. This continues his lifetime pledge to distribute 99% of his net worth to philanthropy.
Buffett used the missive to heap praise on his successor, ensuring investors that the company remains in steady hands. “Greg Abel will become the boss at yearend,” Buffett wrote. “He is a great manager, a tireless worker and an honest communicator. Wish him an extended tenure.”
But the letter was also deeply personal, reflecting on his 64-year friendship with the late Charlie Munger and the serendipity of his life in Nebraska. He asked readers to “Indulge me this year as I first reminisce a bit,” attributing much of his fortune to the “magic ingredient in Omaha’s water” and the sheer luck of being born in America.
For the business community, the letter serves as a final navigational chart from a man who has steered capital through seven decades of market turbulence. His message remains consistent: bet on America, trust in compounding, and acknowledge your mistakes.
“You will never be perfect, but you can always be better,” he said.
As Greg Abel prepares to take the helm, the silence from Omaha will be louder than usual this coming spring. There will be no sprawling annual manifesto to dissect, no marathon Q&A sessions to parse for hidden meaning. Instead, we are left with this Thanksgiving dispatch—a final, gentle reminder from the world’s greatest investor that while money is important, the time we have to give it away is the only asset that truly depreciates.
You can read Buffett’s final letter to shareholders in full below.
Warren Buffett’s Thanksgiving Letter 2025 by FOX Business