SUMMARY: Russian President Vladimir Putin stated that the use of nuclear weapons in Ukraine has not been necessary and he hopes it remains so. He emphasized Russia’s capability to conclude the conflict started in 2022 with the desired outcome. Putin announced a unilateral 72-hour ceasefire from May 8 to 10 to mark Victory Day, which Ukrainian President Zelenskyy criticized as inadequate, urging a 30-day pause. Meanwhile, a Russian drone attack on Kyiv wounded 11 people, including children. Russia launched numerous drones and missiles overnight, with Ukrainian defenses intercepting many, while Russia claimed to have shot down Ukrainian drones.

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SUMMARY: Australia’s Prime Minister Anthony Albanese and his center-left Labor Party secured a rare second-term victory, winning at least 85 of 150 seats. Albanese emphasized unity, recalling his upbringing in public housing with his late mother. The conservative opposition, led by Peter Dutton, lost significant ground, including Dutton’s own seat, amid criticisms of divisive culture wars and unpopular nuclear power proposals. Albanese’s win marks the first consecutive election success since John Howard in 2004, ending a period of political instability. Albanese received congratulatory calls from world leaders, signaling strong international support as he begins his second term.

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SUMMARY: Billionaire investor Warren Buffett announced that he plans to step down as CEO of Berkshire Hathaway by the end of 2025. Having led the company since 1965, Buffett transformed it from a textiles manufacturer into a massive conglomerate. Notable successes include investments in National Indemnity, American Express, Apple, BYD, See’s Candy, and Berkshire Hathaway Energy. However, he also faced setbacks, such as the failure of the textile mills, the poor purchase of Dexter Shoe Co., and missed opportunities like Amazon and Google. Despite some missteps, Buffett’s leadership made him a renowned figure in the investment world.

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