Multibillion-dollar deals hit high mark
Megadeals set a record this year that could foreshadow an active 2026, the Wall Street Journal reports.
Dealmakers announced 68 transactions valued at a minimum of $10 billion worldwide in 2025, according to the newspaper, citing historical figures from analytics and data provider LSEG.
Activity increased as tariff concerns eased, and some expect the momentum to continue. Among the transactions, Union Pacific agreed in July to buy transportation company Norfolk Southern for $72 billion.
“Large deals are driving the market," said Ivan Farman, global co-head of M&A at Bank of America. "And when you see big deals, it’s a sign of CEO and boardroom confidence.”
Billionaire Warren Buffett retires
Warren Buffett, Berkshire Hathaway's well-known chairman and CEO, is retiring at the age of 95.
Known for his savvy investments that made him among the world's wealthiest individuals, Buffett led conglomerate Berkshire Hathaway for the past five and a half decades. He turned the former textile maker into the owner of companies that are big users of commercial real estate.
The Omaha, Nebraska-based firm also plays a big role in residential real estate. It oversees the global residential franchise Berkshire Hathaway HomeServices and owns half of the commercial brokerage company Berkadia and all of insurer GEICO, an occupier of 19 offices nationwide.
In his final companywide note before Thanksgiving, Buffett wrote, "I’m happy to say I feel better about the second half of my life than the first. My advice: Don’t beat yourself up over past mistakes — learn at least a little from them and move on. It is never too late to improve. Get the right heroes and copy them."
Greg Abel is set to replace Buffett as the company's new leader on New Year's Day. Abel has worked with the company for just over a decade and was announced as Buffett's successor in 2021.
Construction wages soar in Nevada
Nevada leads the United States when it comes to hourly construction wage growth, according to a National Association of Home Builders analysis of the latest government data.
The Silver State had the highest year-over-year increase in average per-hour earnings at 10.6%, the trade group noted. Seven other states — Florida, Texas, Mississippi, Alaska, Colorado, South Carolina and Montana — also more than doubled the 3.6% national average for construction wage growth.
"While differences in regional hourly rates reflect variation in the cost of living across states among other things, the faster growing wages are more likely to indicate specific labor markets that are particularly tight," wrote Natalia Siniavskaia, an NAHB assistant vice president, in a blog post this week.
By contrast, Oklahoma saw the biggest annual decline in construction wages, 3%, while Louisiana, Missouri, Rhode Island, California and Wisconsin had smaller decreases, according to the NAHB analysis.
Alaska and Massachusetts are the only two states with average hourly earnings above $50, the data shows. Twelve other states — Washington, Oregon, California, Nevada, Colorado, North Dakota, Wisconsin, Iowa, New York, Rhode Island, New Jersey and Minnesota — post average rates topping $40 an hour.