According to PANews, American investor Warren Buffett announced at the Berkshire Hathaway annual shareholders meeting his plan to retire by the end of the year, shocking shareholders.
Buffett recommended Vice Chairman of Non-Insurance Operations Greg Abel to succeed him as CEO, stating that the time is ripe.
During a 4.5-hour Q&A session, Buffett expressed strong concerns about U.S. tariff policy, stating that 'tariffs are acts of war.' He also warned that the massive U.S. fiscal deficit will eventually backfire on the economy, saying, 'This situation cannot last forever.'