The Long View

What changed: Warren Buffett, 96, has stepped down as chairman of Berkshire Hathaway, a position he held since 1970, and become chairman emeritus while remaining on the board, according to the company and reported by NPR, the New York Times and the Washington Post. His son, Howard G. Buffett, has been named the new chairman.

Why it matters: The change closes out a succession process Buffett engineered over decades, separating day-to-day management from family stewardship of Berkshire's culture. The main open question is whether investors and business partners see this as seamless continuity or as the start of a less certain era for a company built almost entirely around one man's judgment.

The reporting is only hours old, so some details of the transition may still be clarified or corrected.

What changed: According to the New York Times, the Alternative for Germany (AfD) is seeking to take control of a German state government for the first time, and its push for what it calls 'patriotic' art has drawn comparisons with Nazi policies.

Why it matters: The dispute matters because it tests whether a party with a documented extremist classification in some of its state branches can convert electoral gains into control over cultural institutions for the first time since World War Two. The strongest counterpoint is that, unlike the 1930s, Germany's other parties maintain a firewall against cooperating with the AfD and its branches remain subject to intelligence-service scrutiny, which so far has blocked similar proposals.

It is not yet confirmed whether the AfD will actually form or join a governing coalition in Saxony-Anhalt.

What changed: Newly unsealed court documents in The New York Times's copyright lawsuit against Microsoft and OpenAI showed internal concern within both companies over their use of millions of news articles to train AI systems, the Times reported. The Washington Post reported that one of the unsealed documents was headlined by a quote calling the practice a possible 'largest theft of labor' in history.

Why it matters: The underlying case could help decide whether AI companies must license news content or can continue training on it without payment, a question with major financial stakes for publishers and AI firms. Publishers point to the newly unsealed documents as evidence the companies understood the risks to journalism, while Microsoft and OpenAI can still argue in court that their use of the material is protected as fair use.

The full unsealed court record has not been independently reviewed here; reporting relies on documents quoted in press coverage.

What changed: Administrators AlixPartners said in a new report that there are 'insufficient funds' to repay Brewdog's retail arm workers, who are owed about £489,000 in wages and holiday pay, or its unsecured creditors, who are owed roughly £190m. This is a new confirmed outcome from the administration process that followed Brewdog's March sale to Tilray.

Why it matters: Hundreds of small businesses, former staff and crowdfunding investors are absorbing real financial losses from a well known consumer brand's collapse, even though the brand itself continues under new ownership. The case highlights how pre-pack administration deals can preserve a business while leaving little for those it owed money to.

It is not yet clear whether asset sales in the United States could reduce the estimated £16.8m shortfall still owed to HSBC.

What changed: U.S. District Judge Christopher Cooper ruled on Thursday that the Kennedy Center board cannot demolish the building or construct any new structure without giving 30 days advance notice, an order issued hours after Trump was photographed with a placard appearing to read 'Kennedy Center DEMOLISHED.' Separately, new lawsuits filed in Washington, D.C. argue that administration suggestions about deploying federal agents to polling places would violate the 1965 Voting Rights Act's ban on voter intimidation.

Why it matters: The ruling shows courts are still willing to check the administration's plans for a congressionally chartered cultural institution, even as the underlying fight over its future continues. The voter intimidation lawsuits matter because they raise concerns, denied by the White House, about federal agents near polling places ahead of upcoming elections.

Whether the Kennedy Center will ultimately be renovated or partially demolished once the 30-day notice period runs is not yet known.