Category: 3. Business

  • New eSports hubs at community recreation centers

    New eSports hubs at community recreation centers

    The city of the Aurora is ringing in the new year with two new eSports hubs at community recreation centers

    The city of Aurora is celebrating the grand opening of two new eSports hubs at Central Recreation Center, 18150 E. Vassar Place and Southeast Recreation Center and Fieldhouse, 25400 E. Alexander Drive. The Central Recreation Center grand opening will take place from noon to 6 p.m., Monday, Jan. 5 and the Southeast Recreation Center and Fieldhouse grand opening will take place from 4 to 7 p.m., Tuesday, Jan. 6.

    Each event will feature giveaways, food, prizes, video game-themed activities, as well as photograph and autograph opportunities with Miles from the Denver Broncos. A ribbon cutting ceremony will be hosted at the Southeast event at 4 p.m. and at the Central event at 3:30 p.m. with a special appearance by Colorado Governor Jared Polis, a strong advocate for eSports programming throughout the state.

    “Offering eSports at our recreation centers as an amenity increases the inclusivity at our centers and is a great option for youth who need a break or might feel out of place with activities like basketball, volleyball or fieldhouse sports,” said Troy Johnan, eSports Recreation Supervisor.

    “Colorado High School Activities Association does recognize eSports as an official sport. Schools are even giving out scholarships. The opportunity here to practice or make friends is great to see in these spaces,” Johnan added.

    Each eSports hub at Aurora recreation centers will feature 10 professional gaming computers, a PlayStation 5 and a Nintendo Switch. Each hub is a center amenity that is included with entry, which can be accessed with center membership, a $5 drop-in fee or for free through We Are Aurora Youth, a program that offers free recreation center access to teens, ages 13 to 17, during school breaks.

    Aurora’s eSports program began in 2021 offering virtual programming to Aurora residents. In 2022, the eSports Lounge opened inside the Expo Community Center becoming the first center of its kind in Colorado where young gamers could compete and connect on the latest consoles and state-of-the-art gaming computers. A variety of special programming is available at the center year-round, including eSports leagues, robotics camps, coding classes and much more.

    Learn more about the upcoming eSports grand openings and programs offered at AuroraGov.org/eSports.


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  • Challenge accepted: UCLA Health team works at warp speed to defeat osteoarthritis

    Challenge accepted: UCLA Health team works at warp speed to defeat osteoarthritis

    UCLA Health clinicians and scientists are working to change the trajectory of osteoarthritis (OA) treatment from a prevention and treatment-of-symptoms model to regeneration of the entire joint. It’s part of a multi-institutional “moonshot” effort aimed at developing a groundbreaking treatment that is accessible, affordable and available in the shortest possible timeframe.

    Currently, there is no cure for OA, a degenerative joint disease affecting 32.5 million people in the U.S. It causes pain, immobility, disability, and many downstream health and financial burdens. Additionally, OA exacts a national financial weight approximated at $136 billion annually.

    Such a massive unmet health need requires an equally mighty effort to quell it. Enter the Advanced Research Projects Agency for Health (ARPA-H) Novel Innovations for Tissue Regeneration in Osteoarthritis (NITRO) program. Under this program, UCLA in collaboration with Duke University and Boston Children’s hospital was awarded up to $33 million to complete a project seeking dramatic changes in OA care.

    “The funding provided by the NITRO program allows us to promote a novel concept,” explains clinician-scientist Thomas Kremen, MD, orthopedic surgeon and faculty member at the David Geffen School of Medicine at UCLA. “Project criteria require the development of therapy that regenerates bone and cartilage and targets joint tissues through a once-yearly injectable product. The goal is to go from concept to completion of an FDA phase 1 clinical trial within five years. In medicine, that’s the speed of light.”

    The right setting

    The UCLA team considers all components of the joint holistically, as a single organ. The hope is to identify biologics that heal and regenerate joints to the point of possibly supplanting joint replacements.

    For developmental biologist Karen Lyons, PhD, professor and vice chair of the research team, this project is personal.

    “I have osteoarthritis, so I’m extremely motivated in translational research,” she says. “This ARPA-H-funded UCLA project has shifted my focus into finding an economically and clinically practical solution. We want something that anyone — a millionaire or an average Joe — can access.”

    Dr. Lyons, whose lab studies signaling pathways causing cartilage to develop in utero, says UCLA Health is ideally positioned to carry out the level of research required by this ARPA-H-funded UCLA project. Because UCLA’s medical school and hospital are in close proximity to the basic science labs, “… we have cross-fertilization of ideas. In fact, Dr. Kremen and I share lab space. That’s unique,” she says.

    Additionally, because UCLA Health is in the second largest city in the U.S. with one of the most diverse populations, it has “… the clinical infrastructure and geographic footprint to engage with many OA patients,” says Dr. Kremen. 

    For these reasons, UCLA Health will lead the clinical trial resulting from current research as early as 2027.

    Underlying work

    Participation in the NITRO program aligns with UCLA Health’s development of a longevity and anti-aging program, in part because OA is considered a disease of aging. However, ongoing research by Dr. Kremen underscores the point that increasing risk for OA may be established earlier in life. His lab is conducting a clinical trial to evaluate the use of a drug, anakinra, in people suffering a torn anterior cruciate ligament (ACL).

    “We once thought ACL reconstruction would make the knee more stable and help prevent arthritis. But that’s not the case,” says Dr. Kremen. “It doesn’t prevent downstream OA from happening 10-20 years later.”

    Dr. Kremen and team have tracked biomarkers occurring when an ACL is torn and have found pro-inflammatory molecules that can be targeted with anakinra, originally developed for rheumatoid arthritis. 

    “The theory is if we treat people early after an ACL tear and introduce a corrective molecule while the pro-inflammatory biomarker storm is going on, we can redirect those biomarkers and prevent OA down the line,” he explains.  

    This intervention following acute ACL injury takes advantage of a cartilage-sensitive MRI that can detect an abnormal signature on the cartilage. UCLA Health is among just a few institutions in the country that have this technology. Dr. Lyons says because Dr. Kremen has experience with clinical trials in the OA space, he brings real-life experience to the trial phase of NITRO, giving UCLA Health a strong advantage moving forward. 

    Powerful funding

    In addition to medical research funding, this ARPA-H-funded UCLA project supports translational aspects of the undertaking, such as navigating the Food and Drug Administration process, commercializing a product when successfully identified, scaling up production and making it equitably available to the masses.

    The entire project has delivered a unique opportunity to those participating. 

    “In my entire career, I might treat 20,000 patients and have an impact on their lives. But if we can develop a viable therapy through NITRO, it has the potential to impact millions of people — the opportunity of a lifetime,” says Dr. Kremen.

    Dr. Lyons adds that NITRO allows the research team to advance ideas that might never have a chance to be evaluated otherwise.

    “There are very few funding opportunities that cater to this kind of project,” she says. “If you ever find one, take it.”

    Clearly, the project criteria are very challenging. “But with commitment from many talented people and resources we’ve been provided, we can push the chances for success to be in our favor,” says Dr. Kremen. “People throw around the term ‘moonshot.’ But even if we fall short of the moon, we might get a new therapy that works on Earth. We can make a difference, and in our lifetime.”

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  • It’s backed by Maggie Beer and researchers alike, so why don’t we eat more offal?

    It’s backed by Maggie Beer and researchers alike, so why don’t we eat more offal?

    It might seem unappetising or even gross to some, but experts say shoppers looking for a nutritious boost in their diet should consider offal.

    Animal organs can be high in iron and other essential nutrients, and experts believe the benefits of the meat are being overlooked.

    As cost-of-living pressures force one in five Australians to miss meals, they are urging consumers and industry not to undervalue its potential.

    Eating animal organ meats, or offal, such as liver, tripe, or brain, is considered sustainable as it reduces the waste of animal by-products. (ABC Capricornia: Claudia Sullivan)

    Iconic chef’s first foray into cooking

    One Australian who fondly remembers offal-based meals, like sheep’s brain is celebrity chef, author, businesswoman and health advocate Maggie Beer.

    Ms Beer said she found offal “irresistible”, and it was also the first dish she ever cooked.

    “I was pan-frying chicken livers. I was seven, and my father said, ‘Stop picking at those, there’ll be none left for anyone else,’” Ms Beer said.

    “[It] was such a special treat … and a total respecting of an animal by using every part,” she said.

    Maggie Beer smiles at the camera while standing in a grove of trees, a bright sunset lighting the field behind her.

    Celebrated chef Maggie Beer has been working to change the culture of food in aged care and the quality of life of those living there. (Supplied: Maggie’s Orchard)

    The acclaimed chef has been campaigning to improve the quality of food served in aged-care facilities.

    She said that because of the special memories some seniors associated with animal by-products, the food would make a great addition to any retirement home menu.

    For anyone interested in cooking an animal by-product, she recommended pan-fried sheep’s brain.

    “[Start by] poaching the brains and then letting them chill. Then cook them in nut brown butter with capers and parsley, and a good squeeze of lemon,” she said.

    That, to me, is one of the great dishes of the world.

    Still in demand at home and overseas

    Australia exported 234,000 tonnes of edible offal in 2024, according to Meat and Livestock Australia.

    While this amount was outstripped by the 1.3 million tonnes of beef exported, it is still substantial and in league with the 359,000 tonnes of lamb and 255,000 tonnes of mutton exported.

    Even in Rockhampton, Australia’s beef capital, there are still loyal consumers of sheep’s brain.

    Butcher Bill Douglas worked long days to find mostly locally sourced products, including animal organ meat.

    Man dressed in a black collared t-shirt holds up different cuts of meat, infront of a refrigerated display of more meat.

    Bill Douglas is working around the clock to supply as much locally sourced produce as possible. (ABC Capricornia: Claudia Sullivan)

    “We sell it mostly to elderly people. They come in just for it,” Mr Douglas said.

    “[If] we don’t have it … we make sure we have it later on in the week for them, and they’ll come back for it.”

    Offal was not his most popular item, but he said there was a persistent demand.

    “It’s getting harder and harder to get [with] fewer places actually selling it,” he said.

    More research needed to avoid ‘haemorrhaging nutrients’

    Veterinary scientist Robyn Alders has researched food and nutrition security for more than 30 years, and said more data was needed to understand our eating habits and attitudes.

    A woman holiding a chicken in her arms in a village in Tanzania with a group of villagers in traditional dress looking on

    Robyn Alders AO has been working in the field of global food and nutritional security for decades, as seen in her work introducing vaccinations to chickens in Tanzania in 2012. (Supplied: Sally Ingleton)

    She said the data submitted by the United Nations research focused on animal muscle rather than nutrient-dense organs.

    “It’s something that they are actively trying to change right now,” Dr Alders said.

    “Everyone’s aware now that our system is haemorrhaging nutrients if we’re not taking organ meats into account,” she said.

    “Our diet has drifted. We’re consuming a lot of junk food, and we’re eating only the muscle. That gives us a certain range of nutrients.”

    A bite has been taken out of a golden yellow pastry pie drizzled with tomatoe sauce, showing the meat inside.

    Robyn Elders says that for earlier generations, the consumption of organ meat through dishes like steak and kidney pie was very common. (ABC Capricornia: Claudia Sullivan)

    Dr Alders said offal could be beneficial to the 25 per cent of pregnant women in Australia who were anaemic, often due to iron deficiency.

    “Organ foods, such as liver, are very high in iron. [And that] iron … is what we call bioavailable. It’s in a form that the body can use immediately, which means you get good uptake.”

    Dr Alders also said it was not clear why we were consuming less organ meat, but she had heard a few theories.

    “One [could] be that as more of us are urbanised, we’re more removed from the systems that sustain us and feed us, and people simply don’t like the sight of organ meat,” she said.

    It can maybe remind us of our own mortality.

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  • A Filipino bakery in Prince Albert is winning over Saskatchewan, a pastry at a time

    A Filipino bakery in Prince Albert is winning over Saskatchewan, a pastry at a time

    Listen to this article

    Estimated 4 minutes

    The audio version of this article is generated by AI-based technology. Mispronunciations can occur. We are working with our partners to continually review and improve the results.

    On most mornings at La Suerte Bakery and Resto in Prince Albert, the day starts before sunrise.

    By the time customers arrive, trays of fresh doughnuts line the counter, and the smell of sweet Filipino breads fills the small shop on 6th Avenue East. Owner Ben Docabo moves between the kitchen and the till, greeting regulars while keeping an eye on the next batch in the oven.

    The bakery’s name comes from a nickname his mother coined for him when he was a boy. He kept it, he says , because her voice stayed with him.

    “It comes from a Spanish word, [it] means lucky one, la suerte,” he said. “I remember my mum’s wording when I was still young. She’d say ‘la suerte’ all the time.”

    Docabo moved to Prince Albert from the Philippines in 2007, trading the warm weather and tropical islands for Saskatchewan’s snowbanks and long winters.

    He didn’t mind it — for the most part — as long as he could bring the food with him.

    Even as he settled into his job at a local diner, he found himself missing the baked treats he grew up with. The soft pandesal, the sweet breads and the familiar smell of fresh dough in the morning.

    He soon realized others felt it, too, that small ache for home that lives somewhere between appetite and memory.

    By 2017, the feeling wasn’t just anecdotal. A feasibility study revealed that Prince Albert’s Filipino community was growing. It confirmed something Docabo had already been noticing and it flipped a switch.

    That same year, he opened La Suerte to cater to the community’s needs.

    A bakery storefront called 'La Suerte Bakery & Resto'
    La Suerte Bakery and Resto is located on 6th Avenue East (Aishah Ashraf/CBC)

    “There were a lot of Filipinos,” he said. “And I know Filipino people like Filipino baking back home.”

    For Renzo Mondejar, a Filipino immigrant, the bakery feels like more than a storefront, so he visits La Suerte every chance he gets.

    “It’s really nice because it’s not only going to give you a nostalgic feeling, but also it makes you feel at home even though you’re not in your home country,” he said.

    Packed containers of Filipino ensaymadas
    Ben Docabo says his classic ensaymadas are one of his bestselling baked goods. (Aishah Ashraf/CBC)

    At first, most customers were Filipino, people who knew the breads – and missed them – from home. However, the clientele quickly widened.

    Maya Fetterly, a regular at the shop despite having no Filipino background, raves about the coconut buns and the work Docabo puts in day in and day out.

    “He’s doing such a good job,” she said. “He is such a kind person in general and I know the high schoolers come here for lunch every day. [It’s] just a staple in the community.”

    A woman in a light green hoodie holds a bag of buns while standing next to a man in a black t-shirt.
    When customers such as Maya Fetterly walk into the bakery, Docabo greets them by name. That’s just the type of person Docabo is, Fetterly says. (Aishah Ashraf/CBC)

    The business expanded beyond Prince Albert when La Suerte’s products began landing on Superstore shelves in both Prince Albert and Saskatoon, along with several Asian markets in Saskatoon.

    But it hasn’t come easy. It’s meant long drives and even longer days for Docabo. He personally delivers the baked goods to Saskatoon, often filling his van to capacity.

    “Usually, it’s kind of a sacrifice,” he said. “But at the end of the day, when you see your customer happy, all those hardships are getting paid up.”

    What keeps him moving, he says, is the community that’s formed around the bakery.

    “I cannot explain how blessed I am, how the community responds to the way I deliver service,” he said. “But at the end of the day, I’m really thankful for them.”

    Eight years after opening his doors, the bakery’s doughnuts and breads, once made for a few dozen people, are now baked for thousands.

    Docabo talks about the future the same way he named the bakery, with optimism and faith.

    “I’m looking forward — maybe someday I can deliver to the whole Saskatchewan and the whole Canada as well,” he said. “Someday — that’s the dream.”

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  • Thousands of pounds of ground beef recalled in Washington, 5 other states

    Thousands of pounds of ground beef recalled in Washington, 5 other states

    Washingtonians who have recently purchased Forward Farms ground beef may need to toss it if the use- or freeze-by date is Jan. 13, 2026.

    Anyone who purchased grass-fed ground beef from Forward Farms with a use or freeze by date of Jan. 13 should throw out or return the product immediately.

    U.S. Department of Agriculture’s Food Safety and Inspection Service / KUOW

    Mountain West Food Group, LLC, is recalling nearly 3,000 pounds of ground beef products produced on Dec. 16 under its Forward Farms label. Testing revealed the products may be contaminated with E. coli.

    The U.S. Department of Agriculture’s Food Safety and Inspection Service said Saturday the recall is specifically for 16-ounce, or one-pound, vacuum-sealed packages of “Forward Farms Grass-Fed Ground Beef” that has a use- or freeze-by date of Jan. 13 and the establishment number “EST 2083” printed on the side of the packaging.

    The beef was distributed to retailers in six states: Washington, California, Colorado, Idaho, Montana, and Pennsylvania. Federal officials urged anyone who bought this product to throw it out or return it to wherever it was purchased.

    As of Saturday, there were no reports of illness due to the consumption of the product. Federal officials said anyone concerned they got sick from eating the product should contact a healthcare provider.

    E. coli can cause vomiting and bloody diarrhea. Some cases can last for days and may become severe.

    Anyone with questions about the recall can contact Jeremy Anderson, CEO of Mountain West Food Group, LLC, at 208-679-3765 or info@mountainwestfoodgroup.com.

    This story comes to you from the Northwest News Network, a collaboration between public media organizations in Oregon and Washington. It was originally published on KUOW.

    It is part of OPB’s broader effort to ensure that everyone in our region has access to quality journalism that informs, entertains and enriches their lives. To learn more, visit our journalism partnerships page.

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  • Weather continues to cause post-holiday travel woes for passengers at Chicago airports

    Weather continues to cause post-holiday travel woes for passengers at Chicago airports

    Monday morning’s weather, featuring snow, sideways winds, and sub-freezing temperatures, caused concerns for post-holiday travelers.

    More than 100 cancellations and many more delays were logged at O’Hare International Airport. 

    By noon, Chicago led the travel website FlightAware’s so-called misery map.

    Despite the holiday crowds, inclement weather, and the cancellations and delays, travelers said they were prepared.

    “Lots of charged iPads and snacks,” said Mark Wernick.

    “Maybe I’ll just read,” said Olivia Wernick.

    For some, that meant making the most of their delays, like the Yaun family coming from Cleveland, Tennessee, with a two-hour delay.

    “It was delayed this morning because our flight crew needed extra rest, so that was a little bit, but we got to sleep in, so it wasn’t that inconvenient,” said Maggie Yaun.

    O’Hare staff expected this holiday travel season to possibly set records at the Chicago hub, as did TSA when looking at their national numbers. It caused some flyers to hurry or scurry, even after a particularly bumpy experience on their way in.

    “My flight was coming in, we flew on Christmas Eve, and there were very many delays. Lots of delays. Our plane was broken, so we had to wait for a new plane. It was about five hours delayed,” said Melissa Rice. 

    Now hoping for a better flight back.

    “It looks ok. It’s on time. The plane I’m supposed to get on is on its way, so we’re crossing our fingers that it’ll be a smooth flight,” she said.

    This year saw changes, with the enforcement of the Real ID Act about two decades after it passed. Also, the end of the shoe removal at TSA checkpoints and the longest running goverment shutdown.

    However, there are still more changes ahead.

    At O’Hare, there could soon be even more flyers coming through as American’s announced an additional 100 departures starting next year. 

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  • USITC Institutes Section 337 Investigation of Certain Dynamic Random Access Memory (Dram) Devices, Products Containing the Same, and Components Thereof

    December 29, 2025

    News Release 25-132

    Inv. No(s).

    337-TA-1472

    Contact: Michelea Wyatt-McLeod
    , 202-205-1819

    USITC Institutes Section 337 Investigation of Certain Dynamic Random Access Memory (Dram) Devices, Products Containing the Same, and Components Thereof

    The U.S. International Trade Commission (USITC) voted to institute an investigation of certain dynamic random access memory (DRAM) devices, products containing the same, and components thereof. The products at issue in the investigation are described in the Commission’s notice of investigation.

    The investigation is based on a complaint filed by Netlist, Inc. of Irvine, California, on September 30, 2025. The complaint was supplemented on November 20, 2025, December 5, 2025, December 12, and December 16, 2025. The complaint, as supplemented, alleges violations of section 337 of the Tariff Act of 1930 in the importation into the United States and sale of certain dynamic random access memory (DRAM) devices, products containing the same, and components thereof that infringe patents asserted by the complainants. The complainant requests that the USITC issue a limited exclusion order and cease and desist orders. 

    The USITC has identified the following respondents in this investigation:

    • Samsung Electronics Co., Ltd., Suwon, Republic of Korea
    • Samsung Electronics America, Inc., Plano, Texas
    • Samsung Semiconductor, Inc., Plano, Texas
    • Google LLC, Mountain View, California
    • Super Micro Computer, Inc., San Jose, California

    By instituting this investigation (337-TA-1472), the USITC has not yet made any decision on the merits of the case. The USITC’s Chief Administrative Law Judge will assign the case to one of the USITC’s administrative law judges (ALJ), who will schedule and hold an evidentiary hearing. The ALJ will make an initial determination as to whether there is a violation of section 337; that initial determination is subject to review by the Commission. 

    The USITC will make a final determination in the investigation at the earliest practicable time. Within 45 days after institution of the investigation, the USITC will set a target date for completing the investigation. USITC remedial orders in section 337 cases are effective when issued and become final 60 days after issuance unless disapproved for policy reasons by the U.S. Trade Representative within that 60-day period.

    # # #

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  • We look back at a critical turning point in his career : NPR

    We look back at a critical turning point in his career : NPR

    Warren Buffett started out by identifying opportunities in undervalued companies. Later, his strategy was buying a company that would get bigger on its own. We look at that second phase of his career.



    SCOTT DETROW, HOST:

    Warren Buffett is officially retiring on Wednesday. He has served as the CEO of Berkshire Hathaway for 60 years. Our colleagues over at The Indicator from Planet Money, Robert Smith and Wailin Wong, take us through a turning point in Buffett’s career.

    WAILIN WONG, BYLINE: Young Warren Buffett in the 1950s and ’60s would buy stocks in small, undervalued companies and hold them for a short period of time and then make quick profits. That would change under the influence of his new partner in investing, Charlie Munger.

    ROBERT SMITH, BYLINE: Author Alice Schroeder says he helped push Buffett into a new investing philosophy – buy companies that sell things that people need and have growth potential.

    ALICE SCHROEDER: You could buy it once, and then you wouldn’t have to do a lot of work to it.

    SMITH: Buffett bought insurance businesses to generate cash. He bought newspaper companies. He bought a bank. He owned large blocks of the TV network ABC and GEICO insurance. And the idea was that each of these companies would generate money that you could essentially put into the other companies.

    WONG: And we should say, by the 1970s, Warren Buffett was truly becoming famous – as an investor, yes, but also because of his personal quirks. He was a multimillionaire, but he drove an old car and lived in a regular old house in Omaha, Nebraska.

    SMITH: There’s a famous moment in the mid-1980s when the investment firm Salomon Brothers is being targeted for a hostile takeover. And the CEO calls up Warren Buffett and says, essentially, help. And Alice Schroeder tells this story in her biography how Buffett made a huge profit just by publicly putting his money into Salomon Brothers.

    SCHROEDER: He learned to get the value for his reputation just by putting his name on things without doing work.

    WONG: It really is pretty remarkable that, as we tell this story, Buffett has remained on top of his game for, like, 60 years. But there were some dicey moments.

    SMITH: Yeah. The most famous was during the dot-com bubble in the late 1990s. This was the age of high-flying internet stocks, and he certainly would not invest in the internet. But as these internet stocks are going up, everyone is saying that Buffett is out of step. They say he’s losing his mental acuity. The stock in Berkshire Hathaway is languishing. Buffett ends up doing this very brave thing. In 1999, there was this big conference of CEOs in Sun Valley, and Warren Buffett shows up and he gives this speech to the executives there. They work at hotshot tech firms like Amazon and Apple and Intel and Yahoo. And Buffett says, the internet is certainly useful, yes, but the valuations of your companies are way, way too high.

    SCHROEDER: And he told them they were making a terrible mistake and they were wrong, and they made fun of him and they laughed at him.

    WONG: You know what, though? He was right. It was a bubble. The internet stocks plunged the next year. Over the next couple of years, the NASDAQ index went down 77%.

    SMITH: But Berkshire Hathaway, run by Warren Buffett, was up about 30% in the year 2000.

    WONG: Now, Warren Buffett was not always right. He made some big investing mistakes. A recent one is that he pushed the merger of Kraft and Heinz, two big food companies. They’re now breaking up and saying the merger never worked.

    SMITH: But it is notable that the fame of Warren Buffett meant that people didn’t dwell on his errors. And now that he’s retiring, people are looking back and acknowledging that 60 years of success is an unprecedented run in the up-today, down-tomorrow world of investing.

    WONG: And as for Berkshire Hathaway, it will go on even without Warren Buffett at the helm. Wailin Wong.

    SMITH: Robert Smith, NPR News.

    (SOUNDBITE OF MUSIC)

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  • US stocks lower as tech shares drop ahead of New Year

    US stocks lower as tech shares drop ahead of New Year

    The information technology sector weighed on the S&P 500, with most tech and AI-linked stocks falling, including Nvidia and Palantir Technologies.

    “This is (not) the beginning of the end of the tech dominance, it’ll turn out to be a buying opportunity,” said Hank Smith, director and head of investment strategy at Haverford Trust.

    “A big reason for that is the top tech names, excluding Tesla, do not have challenging valuations given their growth rate, the moat around their business and their financial strength, which is unparalleled.”

    At the close, the S&P 500 lost 24.2 points, or 0.35 per cent, to end at 6,905.74 points. The Nasdaq Composite fell 118.74 points, or 0.50 per cent, to 23,474.34, while the Dow Jones Industrial Average dropped 249.04 points, or 0.51 per cent, to 48,461.93.

    Sector moves mixed as oil rises and metals ease

    Tesla shares fell sharply after hitting a record high last week, weighing on the consumer discretionary sector.

    Materials stocks also slipped, with precious metal miners falling as silver dropped sharply after topping US$80 (A$120) an ounce for the first time. Gold prices also eased after posting back-to-back record highs last week.

    In contrast, energy stocks rose, tracking a two per cent lift in oil prices.

    Bank stocks retreated after a strong run this year. Citigroup, one of the sector’s standout performers in 2025 due to progress on regulatory issues, was among the day’s biggest decliners.

    Late-year rally pauses near record levels

    Stocks pulled back after the S&P 500 moved within one per cent of the 7,000-point mark. The blue-chip Dow closed at a record high last week.

    Some investors had been hoping for a “Santa Claus rally” — a seasonal pattern in which the S&P 500 often posts gains during the final five trading days of the year and the first two sessions of January, according to the Stock Trader’s Almanac.

    Despite Monday’s dip, all three major indexes remain on track for solid monthly gains. The Dow and the S&P 500 are heading for their eighth straight month in positive territory.

    Optimism holds despite year-end dip

    The bull market, which began in October 2022, remains intact despite concerns over high technology valuations and market volatility.

    Optimism around artificial intelligence, expectations of interest-rate cuts and signs of a resilient economy have helped put all three major indexes on track for a third consecutive yearly gain. Most strategists also expect further gains in 2026.

    With expectations for continued global economic growth and further easing by the Federal Reserve, “it would be unusual to see a major equity setback or bear market without a recession”, Goldman Sachs chief global equities strategist Peter Oppenheimer said in a recent note.

    Looking ahead

    Investors are now looking ahead to minutes from the Federal Reserve’s previous meeting and weekly jobless claims data in an otherwise light economic calendar.

    The S&P 500 is up about 17 per cent so far this year, as enthusiasm around artificial intelligence helped the US benchmark outperform Europe’s STOXX 600, despite some investors earlier diversifying away from US stocks.

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