CNBC

Berkshire Hathaway on Saturday reported a small decline in second-quarter operating earnings as Warren Buffett's conglomerate warns of negative impacts from steep U.S. tariffs. Berkshire's operating profit — those from the company's wholly owned businesses including insurance and railroads — dipped 4% year over year to $11.16 billion in the second quarter. The results were impacted by a decline in insurance underwriting, while railroad, energy, manufacturing, service and retailing all saw higher profits from a year ago. The Omaha-based conglomerate once again issued a stern warning of President Donald Trump's tariffs and the potential impact on its various businesses.

Emmy, a 31-year-old living in Los Angeles, has been in a credit card debt cycle — racking up balances, paying a card off and then maxing it out again — since she was 18. When Emmy, who uses a pseudonym online to protect her privacy, started sharing her debt journey on TikTok in March, her total balanced exceeded $28,000. "I know this is my fault," she tells CNBC Make It. "I was always the friend that'd be like, 'Shots on me,' or 'Oh, don't worry, I got it' or 'Just pay me next time,'" she says, adding that she wouldn't always follow up on requesting friends pay her back.

San Jose, California, is the most expensive U.S. metro area to buy a home for the second year running. With a median home price exceeding $1.6 million as of May 2025, the Silicon Valley city continues to lead the U.S. in high real estate costs, according to a recent report from SmartAsset. The report analyzed Zillow data on single-family homes, condos and co-ops in 100 of the country’s largest metro areas in 2020, 2024 and 2025. See the full list: cnb.cx/459VmGf

Restaurant brands are hoping hot new menu items will drive visits among younger costumers. Hot, in this case, is literal. Spicy items like chicken sandwiches, seasoned sides and sauces are cropping up more often on menus at major fast-casual and quick-service chains. The idea is to introduce easy-to-execute and buzzy options that can capture the attentions of Gen Z and Gen Alpha diners, even if it's only a flash in the pan. One of those companies was Chipotle, which in June introduced Adobo Ranch, its first new dip in five years, as a limited-time offer.

It's far from finished but the new, $9.5 billion Terminal 1 at John F. Kennedy International Airport is taking shape. Its first phase is slated to open in mid-2026. It will replace the current terminal, which opened in 1998. The terminal, which will be JFK's largest, is now weathertight. Winding baggage conveyor belt structures have been installed, and you can make out future ticket counters, where customers flying carriers like Turkish Airlines, Air New Zealand, Etihad Airways, Air China, Taiwan's China Airlines and others will set down their luggage and show their passports to ticket agents.

Wealthy leaders share the financial advice they gave their kids, including invest early, budget —and think carefully about inheritance.

Goldman Sachs and Bank of New York Mellon announced that they’ve created the ability for institutional investors to purchase tokenized money market funds. Clients of BNY, the world’s largest custody bank, will be able to invest in money market funds whose ownership will be recorded on Goldman’s blockchain platform, according to executives of the two firms. Read more: cnb.cx/4lFLB9L

SAP announced Wednesday that its first-quarter operating profit had risen by 58% year-on-year to hit 2.5 billion euros ($2.9 billion).

Luckin Coffee hit 10,000 stores in China in June, surpassing Starbucks as the largest coffee chain brand in the country following rapid nationwide expansion this year.

In 2020, Colby Grey was a freshman at the University of California, Santa Cruz when the Covid-19 pandemic halted his college experience. By his second semester, Grey was forced to move home, and it was during this time back in San Luis Obispo, California, that he started thinking about studying abroad. Grey considered master’s programs at Cambridge University, the University of Oxford, and the University of Edinburgh in Scotland, but he couldn’t justify the cost. That led him to Leuven, Belgium. Leuven is home to the KU Leuven university, which offers a program for degree-seeking students called a search permit. This permit allows students or researchers to stay for a year and work unrestricted, provided they obtain a master’s degree from a university in the country. It’s a one-year program, and the tuition cost is about 3,800 euros a year — or $4,481 USD. Read more: cnb.cx/3GpGVWe