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(Bloomberg) — Warren Buffett isn’t known to ask much of companies in which he buys stock. Then last year, as Wells Fargo & Co.’s top investor, he publicly advised the board not to hire a leader from Wall Street — and it did.What ensued shows what can happen when a company rejects the legendary investor’s advice. Buffett’s Berkshire Hathaway Inc., already trimming its Wells Fargo stake to comply with a 10% regulatory limit, began cutting further last year just as Charlie Scharf became the bank’s chief executive officer, eventually unloading most of it. In a few more weeks, Wells Fargo …read more […]

If you buy and hold a stock for many years, you’d hope to be making a profit. But more than that, you probably want to… …read more […]

(Bloomberg) — The wildfires, power outages and extreme weather that have ravaged California are setting the stage for a deepening economic crisis for an engine of U.S. growth.Blazes that scorched 4.1 million acres, more than the past three years combined, have cost a record $1.1 billion to battle. S&P Global Ratings is warning that a new fund to help utilities cover liabilities may fall short. The state’s finances are already battered, with the coronavirus pandemic busting a $54 billion hole in the budget and hope fading for federal stimulus anytime soon. Unemployment is expected to outpace that of the U.S. …read more […]

BP is set to make around 7,500 compulsory redundancies after roughly 2,500 staff – or just over one in ten of those eligible – applied for voluntary severance, according to an internal memo seen by Reuters and company sources. The oil major announced plans in June to lay off almost 15% its 70,000-strong workforce as part of Chief Executive Bernard Looney’s plan to cut costs and “reinvent” the business for a low carbon future. A BP spokesman confirmed the voluntary redundancy figure. …read more […]

(Bloomberg) — Hertz Global Holdings Inc. has arranged a new $1.65 billion debt package to help fund its bankruptcy case, the car rental giant said Friday.Certain of the company’s first-lien lenders will provide the financing, which will be structured as a delayed-draw term loan, Hertz said in a statement. As much as $1 billion of the debt can be used for vehicle acquisition in the U.S. and Canada, while $800 million can be used for working capital and general corporate purposes.The deal follows Hertz’s earlier, controversial attempt to sell new, potentially worthless shares to fund its bankruptcy. The stock rose …read more […]

If you’re not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep… …read more […]

Stock futures rose Friday morning as markets looked to recover some of the last three days’ worth of losses. Investors monitored a slate of upbeat announcements from major companies including Boeing and Pfizer, and eyed mixed signals from lawmakers over advancing another round of stimulus. …read more […]

When you buy shares in a company, it’s worth keeping in mind the possibility that it could fail, and you could lose… …read more […]

Readers hoping to buy CVS Health Corporation (NYSE:CVS) for its dividend will need to make their move shortly, as the… …read more […]

Top news and what to watch in the markets on Friday, October 16, 2020. …read more […]

We feel now is a pretty good time to analyse Aurinia Pharmaceuticals Inc.’s (TSE:AUP) business as it appears the… …read more […]

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(Bloomberg) — Stocks in Europe gained on the back of positive corporate news, while U.S. equity-index futures fluctuated as investors considered the economic impacts of fresh restrictions to curb the coronavirus pandemic and the stalemate over U.S. stimulus.Volvo shares rose after the car maker’s results beat analysts’ estimates. Thyssenkrupp surged more than 20% after a report that Liberty Steel will make a multi-billion-euro bid for its steel unit. Shares slipped in Tokyo and Seoul but climbed in Hong Kong. Treasuries edged up and the dollar was steady, while crude oil retreated.The British pound held Thursday’s drop versus the euro, with …read more […]