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Mōrena and welcome to today’s wrap of the business and political headlines you need to know this morning. Warren Buffett stepped down as chair of Berkshire Hathaway on Friday, with son Howard Buffett taking over the board’s stewardship in a long-signalled succession plan that included long-time lieutenant Greg Abel appointed chief executive earlier this year. Markets were mixed on Friday as oil prices fell and bond yields crept higher, while Anthropic was said to be planning the release of a new model, even as it pushed out a planned listing to November amid growing calls to slow development.

German chancellor Friedrich Merz said he will stay on as conservative leader, despite his party’s heavy losses in regional elections, while Gulf leaders will meet with US President Donald Trump this week on the sidelines of the United Nations General Assembly to discuss the Middle East conflict. Australian futures are pointing to a soft start to the week for the ASX as investors weigh up the pace of interest rate hikes by the Reserve Bank of Australia , while earnings from KMD Brands and Fonterra Cooperative Group later this week are the main corporate events on this side of the Tasman.

Berkshire shares rose on Friday leading into the investment firm’s leadership change, with Warren Buffett stepping into a chairman emeritus role having spent more than six decades building the conglomerate. He will stay on the board as a director, with Howard Buffett assuming the chair, having served on the board since 1993. 21 a barrel as Gulf leaders head to New York for the UN General Assembly, where they’ll meet with US President Trump to push for a resolution to the conflict in Iran . Qatar prime minister Sheikh Mohammed bin Abdulrahman Al-Thani said the region’s leaders needed to work together to restore stability in the Middle East.

Meanwhile, the yield on US 10-year treasuries rose 5 basis points to 5% on Friday as investors continued to weigh up the track for Federal Reserve rate hikes. 95% at 7am in Auckland. “US equities were little changed into the end of last week, despite a weak session for major European indices and a move higher in global bond yields,” Bank of New Zealand senior interest rate strategist Stuart Ritson said in a note. 2% on Friday, with International Business Machines , Walt Disney Co , and Nike at the bottom of the leaderboard. 4%, with semiconductor firms and chipmakers such as Nvidia back on the rise.

Dario Amodei. The Wall Street Journal reported Anthropic delayed its planned initial public offering to November amid growing calls to slow the pace of development, spearheaded by the Claude developer’s chief executive, Dario Amodei. Meanwhile, Reuters reported Anthropic was considering rolling out a new artificial intelligence model in response to OpenAI’s GPT-6 Astra , and Anthropic separately said it would partner with Accenture for independent evaluation of its models. Alphabet’s Google said its Gemini AI model hacked other companies in the first known instance of the big tech firm’s AI system breaching its guardrails.

And the Financial Times reported about US$18 billion of loans backing a data centre leased to Oracle in New Mexico were being traded around 10% below their face value as the project faces local opposition over the potential impact on water supply and air quality. 6%.