Ata mārie and welcome to your Monday recap of international business and political news from the weekend.
In business news, Warren Buffett’s Berkshire Hathaway has reached a record cash pile of US$381.7 billion ($666.9b) in the third quarter, while operating earnings surged 34%, Bloomberg reported.
Despite the growing cash pile, the firm’s net investment income declined 13% to US$3.2b because of lower short-term interest rates.
Meanwhile, US President Donald Trump has ordered the US Defence Department to prepare for possible military action in Nigeria, CNN reported.
Trump accused the country of not doing enough to prevent violence against Christians. Nigeria had repeatedly denied the accusation. On social media, Trump wrote the US would “immediately stop all aid and assistance to Nigeria” and warned the government there to “move fast”.
In the Middle East, Hamas denied accusations by the United States that the Palestinian group looted aid trucks in the Gaza Strip after drone footage was published, Al Jazeera reported.
The footage allegedly showed suspected Hamas members looting the truck that was travelling as part of a humanitarian convoy last month. Hamas called the accusations “unfounded”.
“[It is] part of an attempt to justify the further reduction of already limited humanitarian aid, while covering up the international community’s failure to end the blockade and starvation imposed on civilians in Gaza."
Warren Buffett.
Canadian Prime Minister Mark Carney has apologised to Trump over an anti-tariff advertisement, the BBC reported. Trump suspended trade talks with Canada and said he would impose an additional 10% tariff on Canadian imports in response to the advert.
"I did apologise to the president," Carney told reporters. The advert used a series of clips from former President Ronald Reagan's 1987 national radio address, in which he argued that tariffs would hurt the US economy.
Trump had accused Canada of using the advert to interfere in an upcoming Supreme Court case to determine whether the sweeping global tariffs introduced this year were legal.
In the UK, police investigating a mass stabbing on a train on Saturday local time said it was not a terrorist attack, the ABC reported.
Speaking outside Huntingdon Station, British Transport Police Superintendent John Loveless said two British nationals remained in custody. "At this stage, there is nothing to suggest it was a terrorist incident," he said.
Ten people were taken to hospital after the incident. "Four have since been discharged, however two patients remain with life-threatening injuries," Loveless said.
Elsewhere, Turkey's largest oil refineries were purchasing more non-Russian oil in response to the latest sanctions on Russia, Reuters reported.
One of the largest refineries, Socar Turkey Aegean Refinery recently bought four cargoes of crude from Iraq, Kazakhstan and other non-Russian producers, according to Reuters’ sources.
Meanwhile, Opec+ agreed to another small oil output increase in December but planned to pause further hikes for the following three months, as the oil producing group balances market share and supply, Bloomberg reported.
Key members, led by Saudi Arabia, agreed to an extra 137,000 barrels per day next month, as widely expected.
Tourism Minister Louise Upston.
Back home, the Government has announced that tourists from China will now be able to travel visa-free from Australia to New Zealand. China is New Zealand’s third-largest tourism market, with about 250,000 arrivals in the year ended July.
The Government estimated up to 50,000 additional visitors may come here each year via Australia because of the changes.
Tourism Minister Louise Upston said more seamless travel across the Tasman would encourage more Chinese tourists.
“Overseas tourists coming to New Zealand remain a key driver of regional growth. We remain fully committed to supporting the regions to thrive, including by getting more travellers to New Zealand.
“Making it easier for Chinese travellers to hop across the Tasman helps grow the economy, reconnects family and friends, and strengthens trade and business ties.”
