Author: Davide E

Warren Buffett’s conglomerate is on the verge of surpassing $1 trillion in market capitalization for the first time, putting the spotlight on the investor’s nearly six decades of astounding success.Berkshire Hathaway’s Class B shares have risen 29% this year, far outpacing the 18% gain in the S&P 500. The company’s market capitalization hit a record $993 billion as of Tuesday’s close, and it needs to rise just 0.8% to reach the $1 trillion mark.It’s an astonishing feat, considering that Berkshire had two textile mills and about 2,300 employees when Buffett first took control in early 1965. Berkshire’s after-tax profits in…

Ariel Investments, an investment management company, has released its Investor Letter for the second quarter of 2024 for the “Ariel Global Fund”. A copy of the letter can be downloaded here. In the second quarter, the Ariel Global Fund fell -3.12%, underperforming its primary benchmark, the MSCI ACWI Index, which returned +2.87%, and its secondary benchmark, the MSCI ACWI Value Index, which returned -0.59%. Ariel takes a non-consensus approach to identify undervalued and unpopular franchises that are misunderstood and mispriced. Additionally, to learn about the best picks for 2024, check out the fund’s top five holdings.Ariel Global Fund featured stocks…

Russia’s air defenses are stretched to their limits, forcing the country to decide what to defend.However, the success of Ukraine’s offensive and its recent tactics have forced Russia to decide where to deploy its air defense forces.And that gives Ukraine new opportunities to target weaker regions, war experts told Business Insider.Russia’s defenses are weakeningLast month, analysts at the Institute for the Study of War, a U.S. think tank, said in an update on the war that Russia does not appear to have sufficient air defences to protect everything it needs, even in supposedly safe areas.George Barros, a Russia analyst at…

Visa has launched a cross-border business payments partnership with London-based fintech company Revolut. The partnership, announced on Tuesday (August 27), will enable Revolut’s business clients to make instant card transfers via the Visa Direct system. “International business remittances have traditionally come with a range of requirements that vary from country to country, including high transfer fees, a time lag of several days and the need for specific information such as IBANs and BICs,” the companies said in a news release provided to PYMNTS. The release added that Visa Direct will enable Revolut’s business clients to send money around the world…

The proposal to cap water rate increases would create a “risk” that companies would not be able to raise enough money to stop sewage spills, the companies are expected to say later.In July, water regulator Ofwat proposed capping water bill increases at an average of £19 a year, with a final decision due to be made in December.But industry lobby group Water UK is due to argue on Wednesday that the cap would “hinder” companies’ ability to improve their services.Water companies have been criticised by activists for paying dividends to investors and bonuses to executives without investing enough in the…

Several business and local government groups are preparing to fight a last-minute state bill that would put new restrictions on warehouses across California. According to a draft from a coalition of business groups obtained by KCRA 3, the bill would create mandatory buffer zones between new warehouses and residential buildings, hospitals and schools. It would also put new rules on truck routes and existing warehouses that are planning to expand. The bill would impose strict restrictions on the development and expansion of warehouses and distribution centers across California, the groups warned, and would have a negative impact on the state’s…

A Russian man convicted of murder and released to fight in Ukraine has returned from the front line and killed another victim, but has now been released a second time, according to multiple reports and rights groups.The news came after independent Russian media circulated a letter announcing the man’s release on August 19.Ivan Rossomakin, 29, was originally sentenced to 14 years in a maximum security prison in September 2020 for murder and violent robbery, according to legal rights group Travumpunkt.According to court records, Rossomakin committed his first murder in Kirov in October 2019, killing a woman during an argument while…

Former President Donald Trump’s campaign staff got into an altercation with Arlington National Cemetery officials over filming in an unauthorized area, NPR reported.President Trump visited the Virginia cemetery on Monday for a wreath-laying ceremony marking three years since the attack on U.S. troops withdrawing from Afghanistan. Trump and Republicans have often used the 2021 Kabul attack that killed 13 U.S. soldiers to criticize the Biden administration. A source familiar with the situation told NPR that two Trump campaign staffers attempted to photograph an area known as Section 60, where recently deceased soldiers are buried. NPR’s source said Arlington officials had…

Delta SkyMiles Rage: 425,000 points for an empty business class seat – other passengers only pay 90,000 points! Gary Leff August 27, 2024 Delta Air Lines will charge 425,000 SkyMiles for a one-way business class ticket from Atlanta to Santiago, Chile on April 17th. Today is not a peak day. It’s not a day when the plane is full. It’s a day when they are trying to sell off their business class seats at low prices. They have all their inventory available and are selling the cheapest fares. There are currently no seats reserved in the business class cabin. And…

Northwest Washington-based Evergreen Goodwill announced it will close two Seattle thrift stores, citing safety concerns, increased theft and rising rent as the main reasons. (FOX 13) Secondhand shoppers will have to look for new outlets to find bargains in Seattle after the company announced it was closing two stores, citing “increased thefts, safety concerns” and “rising rent.” Evergreen Goodwill in northwest Washington state announced the closure in a blog post on Friday, saying it made the decision because it could no longer “maintain a safe and sustainable environment for both employees and shoppers.””This announcement comes as an increase in thefts,…