Thursday, May 26, 2022
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Legendary billionaire investor, Warren Buffet has got rid of a more than 31-year-old investment in Wells Fargo after selling nearly all of his company’s holding in the San Francisco-based bank. In a regulatory filing on Monday, Berkshire Hathaway Inc, a company owned by Warren Buffet, said it now owns just $26.4 million of shares in Wells Fargo, the fourth-largest U.S....
S&P 500 recently performed annual update to the list and kicked out Elon Musk’s electric vehicle company, Tesla, from its ESG Index, effective May 2, 2022. Apple, Microsoft, Amazon and even oil and gas multinational Exxon Mobil were included in the list. “ESG is a scam”, Musk tweeted. “It has been weaponized by phony social justice warriors”, he added. Elon Musk on Twitter: "Exxon is rated...
German auto maker Mercedes-Benz confirmed on Thursday that it sold a 1955 Mercedes-Benz SLR coupe for a record €135 million, equivalent of $142 million. The sale, first reported by Hagerty Insider, happened on May 5 at the Mercedes-Benz museum in Stuttgart, Germany, during an auction event secretly attended by some of the world’s richest car collectors. The winning bid was made by British...
Japanese automaker Toyota Motor Corp outsold General Motors corp in the United States in 2021, breaking the dominance of General Motors in U.S auto sales in over 90 years. This comes after assembly lines were plagued by shortage of the crucial computer chips in 2021 amid the coronavirus pandemic, forcing automakers to focus on their most profitable models. Since 1931 when it surpassed...
Shares of the Silicon Valley online broker, Robinhood soared on Wednesday, extending a wild rally in the newly public stock trading app’s stock. But trading was halted for volatility several times, with some investors speculating that its dizzying rally is being driven by fears of a short squeeze. The stock which opened last Thursday at $38 per share closed up...
New York City Mayor Bill de Blasio has announced a $100 incentive to anyone who goes to a city-run vaccination site for their first dose of a COVID-19 vaccine, starting this Friday July 30. "It does not get better than that," Bill de Blasio said at a press conference on Wednesday. The announcement comes just days after the mayor said all...
Bill Ackman, the billionaire owner of Pershing Square Capital Management is foreseeing a massive boom in the U.S economy. The billionaire investor who said last year that government should give every American cash at birth so they can retire a millionaire, told CNBC on Monday the economy will see a "massive" boom in the fall despite the new delta variant of...
A Beijing-based veterinarian who was earlier confirmed as China’s first human infection case with Monkey B Virus (BV), has died from the virus, the State-run Global Times reported. The 53-year-old man who worked for an institution researching non-human primates, was diagnosed with Monkey B Virus after he developed symptoms of nausea and vomiting. He developed the symptoms a month after he dissected...
U.S President Joe Biden has expressed disappointment on big social media platforms like Facebook for spreading misinformation about the coronavirus and vaccines. "They’re killing people," the president said when asked what his message was to social media platforms like Facebook on the spread of false and misleading claims about the virus and the safety of vaccines that prevent it. "The only pandemic we have...
The wage gap between Chief Executive Officers of big corporations and median employee pay widened in 2020 amid the coronavirus pandemic, according to AFL-CIO's annual Executive Paywatch report. The report shows that average S&P 500 company CEO made 299 times the average worker's salary last year. Executives received $15.5 million in total compensation on average - an increase of more...
The US Consumer Product Safety Commission (CPSC) has filed a lawsuit against Amazon, accusing the e-commerce giant of selling hazardous products to its customers. Among the products cited in the suit by the federal safety watchdog are carbon monoxide detectors that fail to alarm, numerous children's pajamas that could catch fire and nearly 400,000 hair dryers that could electrocute people...
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