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Berkshire Takes on Short Sellers With Bet on Furniture Retailer

November 23, 2019 admin Comments Off on Berkshire Takes on Short Sellers With Bet on Furniture Retailer

(Bloomberg) — Berkshire Hathaway Inc.’s new wager on furniture retailer RH has Warren Buffett’s company in a place it rarely finds itself: invested in a heavily shorted stock.RH is the most popular short in the home-furnishing retail sector with 37% of the shares available to trade on loan to bears, according to data from financial analytics firm S3 Partners. The disclosure last week that Berkshire bought 1.2 million shares in the third quarter sent RH soaring to a fresh record. The rally hasn’t shaken the faith of short sellers, who profit when the price of a stock falls. Short interest …read more […]

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Amazon Sues Over Loss of Pentagon Cloud Deal to Microsoft

November 23, 2019 admin Comments Off on Amazon Sues Over Loss of Pentagon Cloud Deal to Microsoft

(Bloomberg) — Amazon.com Inc. filed a lawsuit on Friday challenging the Defense Department’s choice of rival Microsoft Corp. for a Pentagon cloud-computing contract worth as much as $10 billion.The lawsuit, which was filed under seal in the U.S. Court of Federal Claims in Washington, marks Amazon’s most aggressive push to defend its competitive edge in the lucrative and cutthroat world of federal government contracts.Amazon previously said it planned to formally protest its loss of the Pentagon’s Joint Enterprise Defense Infrastructure, or JEDI, cloud contract because the evaluation process was deficient.“It’s critical for our country that the government and its elected …read more […]

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Federal Trade Commission Carries on Lonely Battle With Qualcomm

November 23, 2019 admin Comments Off on Federal Trade Commission Carries on Lonely Battle With Qualcomm

(Bloomberg) — Putting itself on the opposite side of the Trump administration, the Federal Trade Commission defended its antitrust case against Qualcomm Inc., saying a federal judge was right to rule the chipmaker is abusing its patents.The FTC urged an appeals court to affirm a ruling that Qualcomm unfairly leveraged the company’s market position to force customers to pay inflated prices for chips and patent royalties. The FTC’s filing was made late Friday in the U.S. Court of Appeals in San Francisco.“Qualcomm attacks a caricature of the district court’s careful analysis and studiously ignores what transpired at trial,” the FTC …read more […]

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Elon Musk Says His Tesla Truck Glass Stunt Went Fine—in Rehearsal

November 23, 2019 admin Comments Off on Elon Musk Says His Tesla Truck Glass Stunt Went Fine—in Rehearsal

(Bloomberg) — Were the shattered windows during Tesla Inc.’s Cybertruck reveal a brilliant viral marketing strategy, or a major screw-up that caught the electric automaker by surprise?“We threw the same steel ball at same window several times right before event and didn’t even scratch the glass,” Chief Executive Officer Elon Musk claimed in a Friday afternoon tweet.In a demonstration of the truck’s toughness late Thursday, long-time Tesla lead designer Franz von Holzhausen wasn’t able to dent the door by whacking it with a mallet. But when he threw a metallic ball at the Cybertruck’s driver side front window, it shattered.The …read more […]