Buffett’s Berkshire Increases Stake in Chevron and Occidental

Buffett’s Berkshire Increases Stake in Chevron and Occidental

Warren Buffett’s Berkshire Hathaway portfolio in Q4 2023, as of Dec 31, 2023 was valued as $347.4 billion. Among the notable changes, Berkshire sold out of its entire stake in homebuilder DR Horton (valued at $641MM in Q3), Markel ($234MM), StoneCo...
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Aon to Buy NFP for $13.4 Billion

Aon to Buy NFP for $13.4 Billion

Aon said it has signed an agreement to acquire NFP—a middle market property and casualty broker—for about $13.4 billion in cash and stock. “The acquisition of NFP expands Aon’s presence in the large and fast-growing middle-market segment, with capabili...
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JPMorgan: Americans running out of savings

JPMorgan: Americans running out of savings

Marko Kolanovic from JPMorgan warned: “It is likely that only the top 1% of consumers by income will be better off than before the pandemic,” he warned, noting the recent surge of credit card and auto loan delinquencies and a...
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Moody’s Cuts USA’s Aaa Rating Outlook To ‘Negative’

Moody’s Cuts USA’s Aaa Rating Outlook To ‘Negative’

After a disastrous 30Y bond auction this week, a collapse in Treasury market liquidity, and an accelerating rise in the market’s perception of the United States’ credit risk, Moody’s has just cut its outlook on US credit ratings to negative ...
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WeWork’s collapse: A story of unchecked ambition and KCS corporate governance

WeWork’s collapse: A story of unchecked ambition and KCS corporate governance

January 2019 marked a high point for WeWork. Still a startup, the New York-based firm had secured funding of $10 billion from the Softbank Group and had attained an after-funding valuation of $47 billion. At the time, this made it...
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Berkshire Hathaway: Investment Loss of $24.1 Billion, Cash $157 Billion

Berkshire Hathaway: Investment Loss of $24.1 Billion, Cash $157 Billion

Warren Buffett’s Berkshire Hathaway reported its first quarterly loss in a year while operating earnings jumped by 40% and the firm’s cash reserves reached a record $157.2 billion. The quarterly loss has been heavily attributed to the company&#8217...
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FTC:  Amazon made $1 billion through secret price raising algorithm

FTC: Amazon made $1 billion through secret price raising algorithm

Amazon com used a series of illegal strategies to stay on top of online retailing including using an algorithm to push up prices to U.S. households by more than $1 billion, the Federal Trade Commission (FTC) said in a less-redacted...
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Risk Warning: Increased Risk of Decline in Capital Markets

Risk Warning: Increased Risk of Decline in Capital Markets

As has been my standard since September 1998, I publicly warn in advance of the increased risk of a decline in capital markets. And now this situation has come again. What are the current reasons? 1. Stocks in general are...
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Wells Fargo customers report missing deposits

Wells Fargo customers report missing deposits

Deposits disappear from Wells Fargo accounts. For the second time this year, Wells Fargo acknowledged that deposits were not showing up in customers’ accounts. In an emailed statement Friday morning, a Wells Fargo representative said the issue was affect...
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Ford set to loses $4.5 billion on EVs

Ford set to loses $4.5 billion on EVs

Ford Motor Company announced it is projected to lose a staggering $4.5 billion from electric vehicles (EVs) this year, up from the previous projected loss of $3 billion. The company released its second-quarter financial results. The U.S.-based automaker&#821...
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Delta loses $363 million

Delta loses $363 million

Delta Air Lines reported a $363 million loss for the first quarter on Thursday, with higher spending on labor and fuel overshadowing a sharp rise in revenue. But the airline predicted it will make a bigger-than-expected profit in the current...
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‘Dr. Doom’: Most US banks are “technically near insolvency,” with hundreds already “fully insolvent.”

‘Dr. Doom’: Most US banks are “technically near insolvency,” with hundreds already “fully insolvent.”

Renowned economist Nouriel Roubini, who predicted the global financial crisis of 2008 caused by fraudulent MBS, has issued a grim assessment of US banking sector’s status. In an opinion piece for Project Syndicate, Roubini, nicknamed ‘Dr. Doom’ by Wa...
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Moody’s Downgrades Entire U.S. Banking System

Moody’s Downgrades Entire U.S. Banking System

Late Monday, the credit rating agency, Moody’s, downgraded the entire U.S. banking system outlook to negative from stable. This important message was widely suppressed, as if on orders from agents in command. Ttao’s reaction from Moody’s suggests...
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Dozen Dead, Over 100,000 Without Power In California

Dozen Dead, Over 100,000 Without Power In California

A moisture conveyor belt of atmospheric rivers continues to pound storm-battered California as the latest system could be the most severe yet. Power outages plague Northern California, as a dozen people have died across the Golden State in the last two weeks...
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JUUL Settles More Than 10,000 Lawsuits For $1.2 Billion

JUUL Settles More Than 10,000 Lawsuits For $1.2 Billion

Bloomberg just reported that e-cigarette maker Juul Labs has agreed to pay $1.2 billion to resolve about 10,000 lawsuits targeting the e-cigarette maker as a major cause of a US youth-vaping epidemic, according to people familiar with the matter. In...
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