Business

Business Warren Buffett: Apple earnings confirm why we invested $50 billion
Author: 0 Warren Buffett: Apple earnings confirm why we invested $50 billion

Todd Combs and Ted Weschler manage roughly $26 billion of Berkshire's investments. Profit and revenue for many smaller units are not disclosed at all. Berkshire had $15.1 billion of these gains in the first quarter. Berkshire's net income surged to $21.7 billion from a loss of $1.1 billion a year earlier as the firm's $190 billion stock portfolio accrued value.

Business Tesla to Raise $2 Billion in Debt and Stock Offerings
Author: 0 Tesla to Raise $2 Billion in Debt and Stock Offerings

Stock in Tesla jumped Thursday morning by almost 5% at the news, although the company's shares recently have traded at their lowest point in more than two years. This article is strictly for informational purposes only. "Based on our forecasts , we do not expect TSLA to turn the corner on free cash flow until after 2020, and, as such, forecast at least one sizeable capital raise before then to make ends meet, least of all to fund its ambitious growth plans", Bank of America wrote.

Business HSBC share price up 2% after Q1 profit exceeds expectations
Author: 0 HSBC share price up 2% after Q1 profit exceeds expectations

In addition, the bank set aside almost $ 900 million in the first quarter of previous year due to a judicial investigation into the sale of bad American mortgages. In 2018, the lender said it would invest up to $17bn over three years in areas including in China and technology, without affecting profitability. In the first quarter, North America posted a pretax profit of $379 million compared with a loss of $596m in the same period past year, as the bank increased retail customer numbers and ...

Business Ahead of Build, Azure adds more machine learning and blockchain
Author: 0 Ahead of Build, Azure adds more machine learning and blockchain

This will enable customers of both firms to build and scale blockchain networks in the cloud. The other main announcement for Azure this week concerns artificial intelligence . JPMorgan Chase has tapped Microsoft to help it expand its blockchain platform , aiming to make it easier for companies to develop and deploy blockchain applications, The Wall Street Journal reports .

Business Amazon shares jump on Buffett investment
Author: 0 Amazon shares jump on Buffett investment

Some were anticipating Amazon's rise before the Berkshire investment however. That was more than the $1.3 billion that Berkshire, which historically has preferred using its cash on equities or acquisitions, spent all of past year after relaxing its policy on buybacks.

Business Why We Don't Care About the
Author: 0 Why We Don't Care About the "YouTube Problem" in Google Earnings

Google shares were down 7.2 percent to US$1,202.39 in after-market trades that followed release of the earnings report. Analysts polled by FactSet expected revenue of $37.3 billion. Facebook is at about 20 per cent. Google's capital expenditure: $US4.6 billion, compared with $US7.3 billion during the same period previous year.

Business Unemployment Rate Hits Lowest Point in 49 Years
Author: 0 Unemployment Rate Hits Lowest Point in 49 Years

The second month of strong employment growth put to rest concerns about a recession and ironically undercut Trump's call for the Fed to cut interest rates. On average, nonfarm payrolls increased by a solid 180,000 per month in the first quarter. The service sector accounted for most of the gains. A likely factor is that steady job growth and solid wage increases have enlarged Americans' paychecks.

Business Not Everyone Was So Motivated By Chase's Monday Motivation
Author: 0 Not Everyone Was So Motivated By Chase's Monday Motivation

The bank reported a record $32.5 billion annual profit, buoyed by tax cuts and a healthy economy. Dimon has in the past said he believes the USA economy is "fundamentally anti-poor", and his bank recently announced a $350 million program meant to help train workers, particularly low-income Americans.

Business Apple: Service revenues up; iPhone sales way down
Author: 0 Apple: Service revenues up; iPhone sales way down

Shares jumped 5.5% in pre-market trading in NY. Appl's wearables, home and accessories business also saw revenue jump 30 per cent to $5.1bn, fuelled by a 50 per cent jump in sales of the Apple Watch and AirPods . We'll see you May 6-8 in Denver - communications service providers get in free! Cook described the "singularly exceptional experience" that Apple is trying to achieve with its devices and services.

Business Tesla's $2 bln capital raise repeats sins of past
Author: 0 Tesla's $2 bln capital raise repeats sins of past

This share conversion option sweetens the pot for lenders, helping Tesla to get a lower interest rate than the company could get with a more conventional loan. Musk also has been distracted by a public feud with United States regulators. The stock's gain follows the company's move to raise about $2 billion of capital through a combination of debt and stock.

Business All the changes coming to WhatsApp, Facebook and Instagram
Author: 0 All the changes coming to WhatsApp, Facebook and Instagram

Facebook did not reveal when users could start chatting across platforms. Facebook/ Instagram insists on its blog that "100% of the money raised on Instagram will go to the non-profit organization you support". It took to the event to outline a new "privacy-focused vision" for the company. Some of the new features will be available right away, while others will be found on the app in a few months.

Business Berkshire Hathaway to invest $10b in Occidental Petroleum for Anadarko takeover
Author: 0 Berkshire Hathaway to invest $10b in Occidental Petroleum for Anadarko takeover

As a result, Anadarko on Monday agreed to start talking to Occidental, saying its bid could potentially be superior to Chevron's existing deal to buy Anadarko for $33 billion in cash and stock. Flight data showed the same jet was in Omaha, Nebraska - where Buffett's Berkshire Hathaway Inc.is based -- on April 28. Berkshire already holds interests in the energy sector, including several major utilities like PacifiCorp, MidAmerican Energy and NV Energy.

Business OPEC supply squeeze seen supporting higher oil prices
Author: 0 OPEC supply squeeze seen supporting higher oil prices

Saudi Arabia won't exceed its OPEC+ deal output limit. His comments come as US Treasury Secretary Steven Mnuchin heads to Beijing and said he hopes the two economic powerhouses can finalize a trade deal with two more rounds of talks left.

Business Facebook redesigns app and website around groups and IRL connections
Author: 0 Facebook redesigns app and website around groups and IRL connections

At the F8 conference in San Jose, California , the social media monolith laid the groundwork for that journey, introducing a series of new Messenger features. Features that drive the most user engagement, like Stories and videos, are being decked out with new tools and given increased prominence across the platforms.

Business Google’s parent company, Alphabet, makes over $36 billion in Q1 2019
Author: 0 Google’s parent company, Alphabet, makes over $36 billion in Q1 2019

Excluding the impact of fines, Alphabet's first-quarter net profit is $8.339 billion, down 11% from the same period past year. Profit amounted to $11.90 per share, well above Wall Street estimates of $10.60. The Google advertising business brought in %30.7 billion, compared to $26.4 billion in the same quarter previous year. "We view this as a hugely important opportunity".

Business Biden Accuses Trump of Abusing Power of Presidential Office
Author: 0 Biden Accuses Trump of Abusing Power of Presidential Office

That battle begins and ends with long primary contests that many Democratic experts and officials believe will be decided exactly one year from now, on Pennsylvania's April 29 primary voting day. For Democrats, Pennsylvania is an outsized electoral prize: Harry S. Truman in 1948 was the last Democratic presidential candidate to lose Pennsylvania but win the election, and Trump's victory in the state was a shock to their system.

Business Putin calls for investigation into contaminated Russian oil
Author: 0 Putin calls for investigation into contaminated Russian oil

Druzhba can carry between 1.2 million and 1.4 million barrels of crude a day, according to the International Association of Oil Transporters, with the possibility of boosting that to around 2 million barrels. Supplies of oil and refined products to the Polish market will be maintained from stockpiles until the situation is resolved, according to PERN, the pipeline operator.

Business GREAT AGAIN: United States GDP GROWS by 3.2%, Smashes Expectations
Author: 0 GREAT AGAIN: United States GDP GROWS by 3.2%, Smashes Expectations

Imports were curtailed in the quarter, in part because of tariffs. Economists were expecting a 2.1% growth rate, but the commerce department estimate shows it was actually 3.2% percent. Residential construction fell at a 2.8-percent rate, marking the fifth straight quarterly decline. Democratic leaders in Congress have asked the Commerce Department to report not only the size of the nation's economic pie but also how it's sliced up.

Business Markets Right Now: 3M leads declines in industrial stocks
Author: 0 Markets Right Now: 3M leads declines in industrial stocks

Gains in financial, health care and other sectors offset losses in energy companies as the price of US crude oil slumped for the third straight day. Shares were mostly lower in Asia on Friday after an overnight decline on Wall Street spurred by disappointingly weak earnings reports from 3M and other industrial companies.

Business NY Prosecutors Allege Bitfinex Covered $850M Loss with Tether Funds
Author: 0 NY Prosecutors Allege Bitfinex Covered $850M Loss with Tether Funds

Apparently, this had led to the exchange had "engaged in a cover-up to hide the apparent loss of $850 million of co-mingled client and corporate funds". While some cryptoanalysts and investors are not too hopeful about the current situation in the crypto-space, Josh Rager, investor, and trader shared his thought regarding the Tether and Bitfinex situation, remarking that he believes Bitfinex will exit the market in good shape .

Business Saudi, UAE overstate their oil capacities: Iran oil minister
Author: 0 Saudi, UAE overstate their oil capacities: Iran oil minister

Others are India and China. He calls it as a long-arm jurisdiction that has been imposed by the US on Iran. The rally had gained momentum in April after Trump tightened sanctions against Iran by ending all exemptions that major buyers especially in Asia previously had.

Business Uber Drivers Plan Strike Ahead Of IPO
Author: 0 Uber Drivers Plan Strike Ahead Of IPO

Uber and PayPal were not immediately available to comment on the IFR report. However, when a company IPOs, it means they'll be subject to the daily whims of the stock market and Wall Street investors , which not only increases scrutiny, but also means heightens pressure from investors to deliver on their financials.

Business Air India operations expected to be normal by this evening
Author: 0 Air India operations expected to be normal by this evening

In a statement on Twitter, Air India said, "Our server system SITA, which faced a temporary glitch, this morning was restored at 0845hrs". Due to which flight operation were affected. "System restored. During the day we will see consequential delays", Air India chairman Ashwani Lohani was quoted as saying by news agency ANI . A similar incident took place on June 23 past year when a technical glitch in the airline " s check-in software delayed 25 of its flights across India.

Business Boeing takes $1 billion hit on MAX grounding crisis, abandons outlook
Author: 0 Boeing takes $1 billion hit on MAX grounding crisis, abandons outlook

The Company is expected to submit its plans to fix the MAX to the Federal Aviation Administration and other regulators within the next two weeks. This loss is partly due to the ongoing grounding of the Boeing 737 Max following two fatal accidents on Lion Air and Ethiopian Airlines that claimed a total of 346 lives.

Business Tesla's Musk agrees to new vetting rules for tweets in SEC deal
Author: 0 Tesla's Musk agrees to new vetting rules for tweets in SEC deal

The terms of the agreement, filed in federal court in the Southern District of NY, dictate that Musk is required to seek legal counsel before posting any public statements, including tweets, regarding the electric vehicle company's finances and business operations that could impact investors' views of the company.

Business Nissan ex-chair Ghosn awaiting release on bail
Author: 0 Nissan ex-chair Ghosn awaiting release on bail

He is accused of enriching himself at a cost of $5 million to Nissan from July 2017 through July 2018. Meanwhile, French president Emmanuel Macron said that Ghosn is "entitled to the presumption of innocence and consular protection, like all French nationals", Bloomberg reported citing Macron's statement on Tuesday.

Business Tesla probing incident of parked vehicle exploding in Shanghai:The Asahi Shimbun
Author: 0 Tesla probing incident of parked vehicle exploding in Shanghai:The Asahi Shimbun

Shares of Tesla were down less than 2 percent at $268.5 in trading before the bell. The cause of the explosion is still unknown. "We're actively contacting and cooperating with relevant departments to learn more about the incident". Good or bad, negative or positive I will post anything about Tesla or EVs in China. According to The Paper's article, diagnostic data for the Model S could not be recovered, as the battery and computer processor had been destroyed in the fire.

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