Warren Buffett’s investment firm, Berkshire Hathaway, has been steadily increasing its stake in Occidental Petroleum over the past nine trading sessions. This accumulation of shares has pushed Berkshire’s ownership in the Houston-based oil and gas producer to nearly 29%, as revealed by regulatory filings. From June 5 to the present day, Berkshire Hathaway has been
Boeing CEO Dave Calhoun is set to address a Senate panel regarding the imperfections in the company’s culture, admitting that there is much room for improvement. The acknowledgment comes as fresh whistleblower claims have emerged just before the hearing, alleging mishandling of defective parts within the company. Calhoun, who has announced his intention to step
Senator Elizabeth Warren recently accused Fed Chair Jerome Powell of prioritizing the interests of the financial industry over the well-being of the American public. In a scathing letter obtained by CNBC, Warren expressed disappointment in Powell’s alleged advocacy for slashing the increase in capital requirements for large American banks under the Basel III Endgame proposals.
The recent Food and Drug Administration (FDA) approval of Merck’s new vaccine, Capvaxive, marks a significant breakthrough in protecting adults from a bacteria known as pneumococcus. This bacteria can lead to serious illnesses, including pneumonia, making the development of an effective vaccine crucial for public health. Capvaxive is designed to specifically protect against 21 strains
Hong Kong has once again been named the most expensive city for expats to live in, according to Mercer’s Cost of Living City Ranking 2024. Following closely behind Hong Kong are Singapore and Zurich. These cities continue to maintain their positions as Asia’s biggest financial hubs, making them costly for international workers. Cities in Switzerland,
The U.S. Department of the Treasury and the IRS have recently introduced a plan to address a significant tax loophole that has been exploited by large, complex partnerships. The loophole in question involves “related party basis shifting,” where businesses operating through multiple legal entities manipulate original purchase prices on assets to minimize their tax obligations.
Car payments have been on the rise lately due to a combination of factors such as high prices and high interest rates. According to industry insiders, while there may be some relief in the near future, prices are likely to remain high for an extended period of time. As of May, the average monthly car
The recent decision by the Federal Reserve to hold interest rates steady has left many consumers with high credit card debt feeling the pinch. With only one rate cut expected by the end of the year, the likelihood of relief from sky-high interest charges is slim. As interest rates on credit cards are linked directly
Nvidia’s recent surge has caused a major shake-up in the Technology Select Sector SPDR Fund (XLK), forcing it to make some significant changes in its portfolio. The fund, which tracks the Technology Select Sector Index, is now in the process of rebalancing its holdings based on market cap values. As a result, Nvidia will soon
The rate of price increases for food has subsided, but many shoppers are still feeling the burden of high prices in the grocery store aisles. With grocery prices rising 25% since the start of the pandemic, some consumers have had to make sacrifices to afford food. According to Intuit Credit Karma, 28% have sacrificed other