Billionaire Warren Buffett will remain with Berkshire Hathaway as chairman of the board when vice chairman Greg Abel takes over as CEO to begin 2026. The board of directors at the cash-rich conglomerate voted Sunday to keep the legendary 94-year-old investor as head of the board, a decision likely to relieve investors worried about Berkshire’s remarkable winning streak as the U.S. and global economies are beset by tariff shocks, financial turmoil and a growing risk of recession. The board in the same meeting also approved Buffett’s chosen successor as CEO, veteran Berkshire executive Greg Abel, 62. In a surprise announcement Saturday, Buffett said he would step down from that top spot at the end of the year.

The Federal Reserve will likely keep its key short-term interest rate unchanged on Wednesday, despite weeks of harsh criticism and demands from President Donald Trump that the Fed reduce borrowing costs. After causing a sharp drop in financial markets two weeks ago by saying he could fire Fed Chair Jerome Powell, Trump subsequently backed off and said he had no intention of doing so. Still, he and Treasury Secretary Scott Bessent have said the Fed should cut rates. They argue that inflation has steadily cooled and high borrowing costs are no longer needed to restrain price increases. The Fed sharply ramped up its short-term rate in 2022 and 2023 as pandemic-era inflation spiked.

President Donald Trump has issued a bold directive to several top federal agencies — including the Bureau of Prisons, Department of Justice, FBI, and Department of Homeland Security — ordering the revival and expansion of the infamous Alcatraz prison. His goal is to create a high-security facility for the nation’s most dangerous and repeat violent offenders.

BREAKING: New York City has introduced a crime-fighting initiative that provides store owners with panic buttons to enhance their safety and security.

This morning, a Houthi missile misfired and crashed in Yemen’s central Ibb governorate.

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The IDF reported that its 810th “Mountains” Regional Brigade, along with combat engineers and paratroopers, raided and demolished the main headquarters of the former Syrian regime at Mount Hermon’s peak, uncovering bunkers and a cache of weapons, including artillery cannons, rockets, launchers, mortars, explosives, and mines belonging to the Bashar al-Assad regime.

An airstrike in southern Gaza’s Khan Younis yesterday destroyed a primed Hamas rocket launching position, the military says.

Israeli Finance Minister Bezalel Smotrich: “The time has come to strike Gaza hard, take full control, impose military rule, seize territory, and carry out President Trump’s plan to relocate 1.5 to 2 million Gazans out of the Strip, there’s no other choice.”