OMAHA, Neb. (Reuters) – Warren Buffett said on Saturday that inflation “swindles almost everybody” and that it was “extraordinary” how much inflation had been seen in Berkshire Hathaway Inc’s own businesses. Inflation has surged in the United States, hitting a new 40-year annualized high of 6.6% in March, and U.S. Federal Reserve policymakers appear set…
By Jonathan Stempel OMAHA, Neb. (Reuters) -Warren Buffett said on Saturday that Berkshire Hathaway Inc has taken a 9.5% stake in Activision Blizzard Inc, and built most of that stake after Microsoft Corp agreed to buy the video game maker for $68.7 billion. Buffett disclosed the investment at Berkshire’s annual shareholder meeting in Omaha, Nebraska….
By Jonathan Stempel and Carolina Mandl OMAHA, Neb. (Reuters) -Warren Buffett on Saturday used the annual meeting of Berkshire Hathaway Inc to rail against Wall Street excess and extol the virtues of cash after rapidly spending tens of billions on stocks and companies, while addressing the risk to his conglomerate from the threat of nuclear…
NEW YORK (AP) — Prices for Russian credit default swaps — insurance contracts that protect an investor against a default — plunged sharply overnight after Moscow used its precious foreign currency reserves to make a last minute debt payment on Friday. The cost for a five-year credit default swap on Russian debt was $5.84 million…
By Aditya Kalra NEW DELHI (Reuters) -India said on Saturday it had seized $725 million from the local bank accounts of China’s Xiaomi Corp after a probe found the smartphone maker had made illegal remittances to foreign entities by passing them off as royalty payments. The Enforcement Directorate had been investigating the Chinese company’s business…
LAS VEGAS (AP) — A massive drought-starved reservoir on the Colorado River has become so depleted that Las Vegas now is pumping water from deeper within Lake Mead where other states downstream don’t have access. The Southern Nevada Water Authority announced this week that its Low Lake Level Pumping Station is operational, and released photos…
By Jonathan Stempel and Carolina Mandl OMAHA, Neb. (Reuters) -Warren Buffett on Saturday railed against Wall Street excess, and after spending tens of billions on stocks and companies in March extolled the virtue of keeping lots of cash, as he hosted Berkshire Hathaway Inc’s first in-person annual meeting since 2019. Buffett, 91, who is Berkshire’s…
NEW DELHI (AP) — Indian authorities on Saturday seized $725 million from Chinese smartphone company Xiaomi, accusing it of breaking the country’s foreign exchange laws by making illegal remittances abroad, officials said. The Enforcement Directorate, India’s financial investigation agency, tweeted that it had seized the amount from Xiaomi’s local unit. The move comes after an…
By Jonathan Stempel and Carolina Mandl OMAHA, Neb. (Reuters) -Warren Buffett on Saturday took the stage at Berkshire Hathaway Inc’s first in-person annual shareholder meeting since 2019, where shareholders can quiz him on everything from corporate governance, potential new investments and his views on the economy. Buffett, 91, chairman and chief executive officer of Berkshire,…
KYIV, Ukraine — Ukrainian President Volodymyr Zelenskyy switched into Russian in his nightly video address to urge Russian soldiers not to fight in Ukraine, saying even their generals expected that thousands of them would die. He said Russia has been recruiting new troops “with little motivation and little combat experience” for the units that were…
