Warren Buffett steps down as Berkshire Hathaway chairman

🔮 The company said Friday that the 96 year-old Buffett will become chairman emeritus and will take on his new role immediately.

🔮 Abbott Laboratories says that it will pay $385 million to resolve claims tied to an investigation and lawsuit brought by the Justice Department related to its manufacturing and 2022 recall of powdered infant formula at a Michigan facility Abbott Laboratories will pay $385 million to resolve claims tied to an investigation of contamination at a baby formula factory in Sturgis, Michigan, the largest in the country, which led to the supply shortages in 2022. Problems at the facility prompted a lawsuit by the Justice Department and recall of powdered infant formula at the facility. The recall covered several infant formula brands, including Similac, and squeezed inventory that had already been strained by supply chain disruptions and stockpiling during COVID-19 shutdowns.