Warren Buffett's Berkshire Hathaway has cut its Wells Fargo. Its stake in Wells Fargo is now at a 17 year low. On Friday, Berkshire Hathaway said it owns 3.3% of the company, its slimmest ownership position since 2003. In 1994, Berkshire owned 13.3% of the bank. It held more than 500 million shares worth more than $27 billion in 2016. Buffett's company now holds fewer than 140 million shares, worth about $3.4 billion.
Regulatory filings show Warren Buffett's Berkshire Hathaway has sold about 101 million Wells Fargo shares in recent weeks. The billionaire investor's company cut its holdings by about 43% to 136 million shares, slashing its stake to 3.3%. The sales come after Berkshire sold 25% of its Wells Fargo position in the second quarter. Berkshire was previously Wells Fargo's largest shareholder. Business Insider reports that Wells Fargo was one of its five most valuable positions earlier this year.
Warren Buffett's Berkshire Hathaway saw the value of its Apple stock tumble as much as $19 billion in two days. On Thursday, Apple's stock price dropped 8%. On Friday, Apple dropped as much as 7%. That cut the value of Berkshire's roughly 981 million shares in the tech titan to below $110 billion. Berkshire has still more than tripled the value of its Apple investment, as it spent about $35 billion to build the 5.7% stake.
Warren Buffett's Berkshire Hathaway disclosed a $6 billion bet on five of Japan's biggest trading companies. The news was released Sunday night in a press release. The billionaire investor's company revealed that it owns just over 5% of Mitsubishi, Mitsui, Itochu, Marubeni, and Sumitomo. Business Insider reports that all five firms rose between 4% and 10% on Monday.
The Trump administration will ban WeChat and video-sharing app TikTok from U.S. app stores starting Sunday night, a move that will block Americans from downloading the Chinese-owned platforms over concerns they pose a national security threat. Fred Katayama reports.
Vitamin B6 is one a very popular vitamin. Business Insider explored the benefits of this vitamin. Vitamin B6 helps turn food into energy. Vitamin B6 supports heart health. Vitamin B6 promotes healthy brain function. Vitamin B6 may help morning sickness. Vitamin B6 may treat seizures in newborns. Vitamin B6 fosters a healthy immune system .
Robert Pattinson is an A-List Hollywood star. Business Insider is dishing on some fun facts about the actor that even his biggest fans may not know. "Harry Potter and the Goblet of Fire" was the actor's first major film. There's an asteroid named after the movie star. He doesn't like his popular nickname "R-Patz." Pattinson actor has admitted that he's not the best driver. The star said that he's always wanted to be a rapper.
A lot of home owners ignore getting home owners insurance. Those with policies should read them regularly. Home owners need to know how much your insurance company would reimburse them if their house burned down and it was a total loss. Business Insider reports that most insurance companies require homeowners to carry at least 80% of the replacement cost of the home.
While the US has made it through the Great Depression and a number of recessions, the COVID-19 pandemic has put a new twist on the experience. According to Business Insider, the lowest-earning households have taken the biggest hit to their incomes, in terms of percentage of income lost. However, upper-income consumers have made the deepest spending cuts in total dollar amounts. That's because they have so much budgetary fat to trim.
On Thursday, US stocks fell 320 points. The drop comes even as weekly jobless-claims data came in better than expected. Business Insider reports that weekly jobless claims fell by more than 30,000 from the previous week, to 860,000. Tech stocks led the decline. Investors continued to process Federal Reserve Chairman Jerome Powell's comments expressing uncertainty about the economic recovery. Powell also said the Fed didn't expect to raise interest rates until at least 2023.
Bollywood celebrities were spotted at several places in Mumbai on Saturday. Saif Ali khan, Chahatt Khanna, Esha Gupta, Natasha Dalal and Prayga Jaiswal were spotted. The celebs stepped out wearing masks and taking necessary precautions. Saif Ali khan was spotted in Bandra with son Taimur. Earlier, Taimur was seen waving the national flag at his home. The adorable video was shared by his mother Kareena Kapoor Khan. Chahatt Khanna was spotted outside Starbucks in Mumbai. Natasha Dalal, Varun Dhawan's girlfriend, was spotted in Juhu. Esha Gupta and Prayga Jaiswal were also snapped on Saturday.
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On Wednesday, the U.S. House Transportation and Infrastructure Committee released a 245-page report about the deadly Boeing MAX jet crashes. The two plane crashes in 2018 and 2019 weren’t a result of one single issue. They were caused by the failures of Boeing staff, Boeing management, and the Federal Aviation Administration. "A series of faulty technical assumptions by Boeing’s engineers, a lack of transparency on the part of Boeing’s management, and grossly insufficient oversight by the FAA.
Two Boeing 737 MAX crashes that killed all 346 passengers and crew aboard were the "horrific culmination" of failures by the planemaker and the Federal Aviation Administration, a U.S. House panel concluded after an 18-month investigation. Fred Katayama reports.
IBM is building a cloud for Financial Services. BNP Paribas will come on board as the anchor client for the services. IBM is in discussions with Japan's Mitsubishi UFJ Financial Group (MUFG) to explore how it can adopt the IBM Cloud for Financial Services. Business Insider report that this marks a milestone in the modernization of the global financial industry. IBM Cloud for Financial Services is the world's first product of its kind.
Warren's Buffett's Berkshire Hathaway made a $570 million bet on Snowflake. According to Business Insider, the move shoes Buffett trusts his two portfolio managers, Todd Combs and Ted Weschler. "Buffett has given full agency to his lieutenants," Jake Taylor, CEO of Farnam Street Investments and cohost of the "Value: After Hours" podcast, told Business Insider. "A high-profile tech IPO is a resounding confirmation that his actions match his words," he added.
Warren Buffett's investment in his Apple has easily exceeds his personal fortune.
Buffett owns investment conglomerate Berkshire Hathaway.
The company spent about $35 billion to buy 245 million Apple..
Warren Buffett's investment in Apple has tripled in value to north of $100 billion.
Buffett's Berkshire Hathaway spent about $35 billion to build the 5.7% stake in Apple
The 10% rise in Apple's stock..