 Berkshire Hathaway stock prices Berkshire Hathaway reached a record-breaking market capitalization of $701B, as its stocks continue to rally in the new year. The shares prices reached a 52-week high of $314.48, up 36% over the past 12 months and 91.7% higher than five years ago. More: -
The investment firm’s Class B shares have risen 4.8% year to date and outperformed the S&P 500 by 3% last year. -
Berkshire’s 60+ company portfolio includes the likes of Geico, Duracell, and Dairy Queen, and also a considerable stake in Apple. -
The company’s upward trajectory could see it become a trillion-dollar company, joining an elite group of companies that include Amazon, Apple, Microsoft, and Tesla. -
Earlier this week, Berkshire Hathaway’s $36B investment in Apple for a 5% stake was valued at $160B as the iPhone manufacturer hit a $3T market valuation.
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 Starlink's user terminal antenna SpaceX’s Starlink, a satellite-based internet network, grew its consumer base to 145,000 users across 25 countries. SpaceX’s Falcon 9 on Thursday carried 49 Starlink satellites to space, adding to its 1,800 satellites in orbit. More: - The satellite constellation is designed to provide a high-speed internet network to its global customers directly via satellites to user terminal antennas.
- Starlink hopes to bring internet connectivity to areas on earth with poor or completely unavailable connectivity, such as rural areas.
- The customer growth, which averaged at 11,000 per month since Oct. 2020, slowed down from Nov. 2021, adding only 5,000 users from early November to date.
- The company’s equipment manufacturing is witnessing silicon chip shortage-related production delays.
- Industry analysts believe SpaceX’s $100B valuation can be attributed to the market potential of its Starlink service.
- The Starlink network’s expansion into India has hit roadblocks after Starlink India’s CEO stepped down early this week after the Indian government halted pre-orders of their products due to a lack of operating license for the region.
- The company announced it will be issuing refunds to those who preordered the device.
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Blackstone Infrastructure Partners announced a $3B equity investment into Invenergy, the largest investment into renewable energy in North America. Blackstone has invested ~$13B since 2019 toward renewable energy companies. More: - With a portfolio of 175 projects generating 25,000 megawatts across four continents, Invenergy Renewables is the largest private renewable energy company in the United States.
- Invenergy’s solar and wind power generation projects have helped offset 167 million tons of carbon dioxide.
- The largest wind and solar projects in the U.S., set to deliver a combined 3 gigawatts of clean energy by 2023, are being developed by Invenergy.
- Blackstone’s investment into Invenergy signifies its broader commitment to invest in clean energy companies.
- In another significant step towards reducing its carbon footprint, Blackstone announced in 2020 that it will reduce its carbon emissions by an average of 15% in all new investments within the first three years of ownership.
- Blackstone Group has over $731B in assets under management.
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Print book sales saw a growth of 8.9% equalling 67.8 million units, spurred by 25.5% growth in adult fiction sales in 2021. NPD BookScan reported book sales of 825.7 million units in 2021, up from 757.9 million books in 2020. While sales have increased, the percentage of the U.S. population reading printed books was 65%, the same as the year before. More: - E-book sales, which increased by 22% in the pandemic due to bookstores closures, reached pre-pandemic average levels in 2021.
- In 2021, the average American adult read five books, with 30% of the U.S. audience reading at least one e-book in 2021.
- Social media platforms influenced print book purchases, with the TikTok book recommendation community BookTok responsible for boosting print sales in the young adult fiction category by 30.7%.
- Audiobook listening increased by 8%, covering 22% of less than $30,000 income households in 2021.
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 GameStop GameStop hired over 20 employees to establish a nonfungible token (NFT) marketplace division and form cryptocurrency partnerships. The unit is responsible for building an online hub for the trading of videogame merchandise and goods NFTs. More: - GameStop is in advanced talks to form technology sharing and game development partnerships with two crypto companies. The partnership is expected to advance game development using blockchain and NFT technology.
- Mr. Ryan Cohen, GameStop's Chairman since the executive team and board of directors overhaul, is leading the technology partnership to make the gaming company more tech-centric.
- Revenues increased in the quarter ending in October on account of increased hardware and accessory sales, but the company's deficit expanded compared to the same time a year ago.
- Revenue from gaming software fell by 2% during the quarter.
- GameStop's stock had dropped more than 45% in the six weeks leading up to Thursday's close.
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 US unemployment rate The U.S. unemployment rate fell to 3.9% in Dec. 2021, down from 4.2% in the month prior. The decline reached a 22-month low, despite more people entering the workforce. More: - 199,000 non-farm vacancies were filled in December, down from 249,000 in the month before.
- The leisure and hospitality sector, professional and business services, and manufacturing sectors added 53,000, 43,000, and 26,000 positions last month, respectively.
- The year 2021 recorded the largest increase in employment since the start of recordkeeping in 1939, with 6.4 million jobs created.
- Despite the record, employment is still 3.6 million jobs below its peak in Feb. 2020.
- The typical workweek remained at 34.7 hours, while average wages rose 0.6% in December.
- At 61.9%, the labor force participation rate remained unchanged.
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Quick Hits - Royal Dutch Shell’s $7B share buyback program, of which $1.5B worth of buyback has already been completed, is on track despite a slowdown in fuel demand.
- Bob van Dijk, CEO of Prosus NV, purchased 122,750 shares worth $10M in the company from the open market, with an average price of $81.69 per share.
- Citigroup Inc. became the first institution to enforce a strict vaccine mandate after announcing that unvaccinated staff will be placed on unpaid leaves and fired by the end of January unless they are vaccinated by Jan. 14 or seek an exemption.
- Reddit Inc. is enlisting the assistance of Morgan Stanley and Goldman Sachs Group in preparation for its IPO, aiming for a valuation of $15B at its debut.
- Airbus is facing a class-action lawsuit worth $339M bought on by over 100 institutional investors claiming that the jet manufacturer failed to disclose their company’s corruption information, leading to overpriced shares.
- Volkswagen will show a production version of the ID.Buzz EV van on March 9, with U.S. launch scheduled for late 2023.
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 |  | Karan Chafekar is a Management Consultant, Business enthusiast, Formula 1 lover, and a Licensed Pilot. He is also a part-time automobile and aviation fanatic, and a full-time introvert. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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