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Berkshire Hathaway Posts Rising Profit
Warren Buffett’s Berkshire Hathaway Inc. said second-quarter earnings rose due to unrealized investment gains, while the company’s cash pile grew to a record. Berkshire reported second-quarter net earnings of $14 billion, or $8,608 per Class A share equivalent, from $12 billion, or $7,301 a shar…
Oil Gains As Gulf Tanker Seizure Raises Tensions
Meanwhile, a senior United States administration official said on Friday the U.S. will destroy any Iranian drones that fly too close to its ships, a day after the U.S. said one of its navy ships had “destroyed” an Iranian drone in the Strait of Hormuz. Iran said it had no information about losin…
China Considers Canceling Trade Talks With U.S.
China is considering canceling trade talks with the United States this week after U.S. President Donald Trump vowed to hike tariffs on China, the Wall street Journal reported on Sunday citing a source.
Earlier on Sunday, Trump announced he would hike U.S. tariffs on $200 billion worth of…
Fiat Chrysler Automobiles Has Agreed To Pay Tesla Hundreds Of Millions Of Euros So That The Vehicles Of Tesla Are Counted In Its Fleet
Italian carmaker Fiat Chrysler Automobiles NV (FCA) has agreed to pay electric carmaker Tesla (NASDAQ:TSLA) Inc hundreds of millions of euros so that the vehicles of Tesla are counted in its fleet to avoid fines for violating new European Union emission rules, the Financial Times reported on Sun…
U.S. Casino Operators Eldorado Resorts Inc And Caesars Entertainment Corp Are In The Early Stages Of Exploring A Merger
Caesars declined to comment, while Eldorado did not immediately respond to a request for comment. The combination of Caesars and Eldorado would create a more formidable competitor to larger casino industry players, such as Las Vegas Sands Corp, Wynn Resorts Ltd and MGM Resorts International.
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The United States And China Appear Close To A Deal That Would Roll Back U.S. Tariffs On At Least $200 Billion Worth Of Chinese Goods
The United States and China appear close to a deal that would roll back U.S. tariffs on at least $200 billion worth of Chinese goods, as Beijing makes pledges on structural economic changes and eliminates retaliatory tariffs on U.S. goods, a source briefed on negotiations said on Sunday.
2019 Stress Test Scenario: Big Banks Must Show The Fed They Can Survive A Hypothetical Scenario With Enough Capital To Continue Lending
The Fed’s latest “severely adverse” scenario imagines unemployment rising by six percentage points to 10%, along with stress in corporate lending and commercial real-estate markets. “The hypothetical scenario features the largest unemployment rate change to date,” said Randal Quarles, the Fed’s …