Business

Buffett's firm reports almost $50B loss as investments drop

Over more than four and half hours at the annual meeting of Berkshire Hathaway Inc, Buffett said his conglomerate has taken many steps responding to the pandemic, including providing cash to struggling operating units, and throwing in the total on a multi-billion-dollar bet on USA airlines, the Reuters reported.

Business

American billionaire Warren Buffett sold all shares of airlines due to coronavirus

Buffett's corporation, Berkshire Hathaway Inc., had $6.5 billion in equity sales during April, a lot of them from four major US airlines-American Airlines Group Inc., Delta Air, Southwest Airlines and United Airlines Holding Inc. Buffett had predicted that a 2018 accounting rule would create "wild and capricious swings" in the company's reported profits or losses. By that measure, Berkshire Hathaway saw growth to $5.9 billion from $5.55 billion a year earlier.

Business

Elon Musk calls stay-at-home orders 'fascist'

The investor said if the question was left unanswered, he would "be left wondering" if indeed all Tesla's account receivables were "suspect", along with its income statement . Musk said that while other carmakers were cutting back, Telsa was ramping up investment and that the carmaker might announce the location of a new USA factory in one to three months.

Business

Berkshire sells entire stakes in U.S airlines: Buffett

The annual meeting often has an nearly carnival atmosphere, as thousands of fans and investors flock to Nebraska to hear from the celebrated "Oracle of Omaha". But it won't be in USA airlines, after Buffett confirmed that Berkshire in April sold its "entire positions" in the four largest: American Airlines Group Inc, Delta Air Lines Inc, Southwest Airlines Co and United Airlines Holdings Inc.

Business

Tesla shares tumble after Elon Musk tweets they're too expensive

Tesla stocks are too damn high, or something like that. Musk also said he " will own no house ". Most of his other many tweets were about his life: Musk announced that he and his girlfriend , Grimes, are expecting a child-due Monday. It was unclear Friday whether such controls have been in place, and Tesla did not immediately respond to a request for comment. Tesla stock stumbled more than 10 per cent and its valuation reduced by almost $9 billion after Musk's tweets in ...

Business

Ryanair to cut 3000 jobs as flight suspension drags on

Fórsa, which represents Ryanair cabin crew and pilots, says it will be seeking an urgent meeting with the airline's management. Ryanair said it expected a loss of 100 million euros ($110m) in the three months to the end of June, which O'Leary said was the first time the airline has ever suffered a loss in that quarter.


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