OMAHA, Neb.—Warren Buffett’s company is abandoning its purchase of a natural gas pipeline from Dominion Energy because of uncertainty about whether the deal could get regulatory approval. Berkshire Hathaway Inc. will receive a $1.3 billion refund on the proposed purchase of Questar Pipelines that was also supposed to include $430 million of Dominion’s debt when…
Musk Defends Tesla’s $2.6 Billion Deal for SolarCity
WILMINGTON, Del.—Elon Musk insisted in court that Tesla Inc’s board controls the company but also said the electric vehicle maker would “die” if he wasn’t the chief executive, as he ended his first day of testimony on Monday in defense of Tesla’s 2016 acquisition of SolarCity. The lawsuit by union pension funds and asset managers…
Pfizer and Government Ministers Rebuff Former PM’s Claims He Intervened in Vaccine Rollout
July 12, 2021
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Pharmaceutical giant Pfizer and senior government ministers have rebuffed claims that former Australian Prime Minister Kevin Rudd played a role in expediting shipments of Pfizer vaccine to Australia. This comes after the Australian Broadcasting Corporation (ABC) alleged on July 13 that Rudd had met with Pfizer Chairman Albert Bourla on June 30, and it was…
Cryptocurrency Trading Volumes Slump 40% in June, Data Shows
LONDON—Trading volumes at major cryptocurrency exchanges fell by more than 40 percent in June, research showed on Monday, with a regulatory crackdown in China and lower volatility among the factors depressing activity. Spot trading volumes fell 42.7 percent to $2.7 trillion, with derivative volumes down 40.7 percent to $3.2 trillion, London-based researcher CryptoCompare’s data showed. “Headwinds…
Amazon Restores Service After Global Outage
Amazon said its online stores had returned to normal services after a global outage disrupted shopping on its country sites. According to outage monitoring website Downdetector, services were disrupted for nearly two hours and at the peak of the disruption, more than 38,000 user reports indicated issues with Amazon’s online stores. They occurred on Sunday…
Lord Rothermere in Bid To Take Daily Mail Newspaper Group Private
Lord Rothermere is considering a bid to make the owner of the Daily Mail, Mail on Sunday, and Metro newspapers private in a deal worth £810 million ($1.1 billion). The newspapers are currently part of the Daily Mail and General Trust (DMGT), listed on the stock market since 1932. But if the sale of its…
Hungary Government Offers to Buy Budapest Airport
BUDAPEST—Hungary has offered to buy Budapest Airport from its foreign shareholders, part of an effort to take it back into state hands and protect what the government says are national interests. Prime Minister Viktor Orban’s government earlier this year expressed its interest in buying a majority stake in Hungary’s main international airport saying its past…
What Famous Investors Say About Investing During High Inflation
During the last months, statistics regarding inflation rates have signaled an increase that is higher than the rate during recent years. The uptick has led to investors and financial experts alike to reflect on the current atmosphere. “We’re seeing very substantial inflation,” relayed Warren Buffet, chairman and CEO of Berkshire Hathaway, in May 2021 at…
US Should Ban China’s Central Bank Digital Currency: Investment Manager Kyle Bass
July 12, 2021
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2022 winter olympicsBusinessBusiness & EconomyChinaChinese Communist PartyChinese Regimedigital yuanEconomieseconomykyle bassUSUS NewsUS-China relations
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The communist regime in China is going to use its new state-controlled digital currency as a Trojan horse to project its authoritarianism all over the world, warned hedge fund manager Kyle Bass, and it could become a “cancer” plaguing the United States if it is not banned, he said. “Imagine a currency that almost has…
US Should Ban China’s Digital Yuan: Investment Manager Kyle Bass
July 12, 2021
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2022 winter olympicsBusinessBusiness & EconomyChinaChinese Communist PartyChinese Regimedigital yuanEconomieseconomykyle bassUSUS NewsUS-China relations
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The communist regime in China is going to use its new state-controlled digital currency as a Trojan horse to project its authoritarianism all over the world, warned hedge fund manager Kyle Bass, and it could become a “cancer” plaguing the United States if it is not banned, he said. “Imagine a currency that almost has…
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