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Warren Buffett criticises Wall Street as Apple investment pays off

The letter is always one of the best-read business documents every year because of Buffett's knack for explaining complex issues in simple terms and because of his remarkably successful investing record. Berkshire started building stakes in those airlines previous year, ending Buffett's long-running aversion to airline investments. The index fund is up 85.4%, Buffett said in his letter, while the hedge fund groups are up between 2.9% and 62.8%.

Business

Martin Midstream Partners LP (MMLP) Downgraded to "Hold" at Zacks Investment Research

The Company is a limited partnership formed to own, operate and acquire crude oil tankers under long-term employment contracts. The Company owns and operates around 360 miles of gas gathering pipelines approximately 300 Million Cubic Feet per Day (MMcf/d) of processing capacity as well as crude trucking and logistics services extending through seven counties in the core of the Midland Basin.

Business

Trump administration to move forward with immigration plans

The Department of Homeland Security has issued two enforcement memos , which among other things, tightens deportation of illegal immigrants. Trump, during his presidential campaign, had promised stricter enforcement policies and this move is the latest in the efforts by the President to follow up on his vows .

Business

What to watch for in Warren Buffett's Berkshire Hathaway letter

Buffett has often said he believes most stock investors are better off with low-priced index funds than paying higher fees to managers who often underperform. Combs alerted Buffett to Precision Castparts, and Buffett may discuss what drove Berkshire's unexpected, multi-billion-dollar investments in Apple and the four biggest USA airlines.

Business

Oil prices fall as USA crude inventories rise further

The EIA (U.S. Energy Information Administration) reported that United States refinery crude oil demand fell by 187,000 bpd (barrels per day) to 15,271,000 bpd between February 10 and February 17, 2017. "Dancing contango is now not a profitable thing to do, so we've sold out, " an oil trading manager who held oil stored in a tanker told Reuters. World oil prices are declining Feb.24 after the report about the growing volume of USA crude inventories over the last week.

Business

Hammered by internet, U.S. chain closing 140 stores

The company's shares rose almost 3 percent in premarket trading. Because the company "understands that closing stores will impact the lives of many hard working associates", it says it will launch a voluntary early retirement program for about 6,000 employees.

Business

Manipur CM Okram Ibobi lashes out at PM Modi's 'economic blockade' remark

They don't care about the people of Manipur, all they care about grabbing power. "There is not a word in that agreement that can be construed as harmful to Manipuri interests", he added. When Atalji (Atal Bihari Vajpayee) formed the government at the Centre, he made policies for overall development of the region. The Prime Minister said through hardwork, determination and work on the ground, "BJP is now a strong force both in urban & rural Maharashtra".

Business

Berkshire Hathaway gains $1.6 bln from its huge bite of Apple

Clayton accounts for about 2 percent of Berkshire's overall profit . In 2016, Berkshire's stock price rose about 23.4 percent, easily outpacing the market, though most investors who bought its stock in recent years have achieved closer to market-average returns.

Business

PV Sindhu to accept Chandrababu's offer, joins as Deputy Collector

She has conveyed her willingness to accept the post which was offered by the state government soon after she bagged silver in women's singles at the Rio Olympics previous year. He also presented a cheque for Rs 50 lakh to Sindhu's coach Pullela Gopichand and Rs 25 lakh to badminton player Kidambi Srikanth, who had also competed in the Rio Olympics.

Business

Warren Buffett Rails Against Fee-Hungry Wall Street Managers

Warren Buffett's Berkshire Hathaway released its closely-watched annual letter on Saturday, in which the Oracle of Omaha told investors that the holding company's investment gains would continue to be "substantial" in the coming years. Last week, Berkshire-owned food giant Kraft Heinz walked away from a bid to buy Unilever , the European consumer products conglomerate. Jain joined Berkshire in 1986, and Buffett put him in charge of National Indemnity's small, struggling reinsurance ...

Business

Buffett's Berkshire says quarterly profit rises 15 percent

Analysts on average had forecast operating profit of US$2,716.60 per share, according to Thomson Reuters I/B/E/S. "Many of our investees, including Bank of America BAC", -1.42% have been repurchasing shares, some quite aggressively. "If there were ever to be another Ajit and you could swap me for him, don't hesitate", Buffett wrote. But Buffett said society "will forever need huge investments" in transportation, and BNSF is well-served by a strong balance sheet, recent capital upgrades, ...

Business

Tesla Reports Loss for Q4, Looks to 2017 For Growth

Musk also used the conference call to reiterate one of Tesla's most drastic promises. Unable to string together profitable quarters, electric auto and solar cell maker Tesla has reported a loss for the last three months of 2016. Ahead of the Model 3 launch, Tesla is expanding its retail, Supercharger, and service functions, including a mobile fix service which allows mechanics to make minor repairs remotely rather than forcing consumers to take their transport to a garage.

Business

Uttar Pradesh elections: Over 61% polling recorded in Phase 4

EC recovered Rs 13.49 crore in cash and liquor worth Rs 8.17 crore in the run up to fourth phase voting. The fourth phase of voting in the Uttar Pradesh Assembly elections for 53 seats concluded on Thursday. "The Commission had to replace 140 Electronic Voting Machines or 0.65 per cent of the EVMs used while 145 VVPAT or 8.24 per cent of those used needed to be replaced", Dev added.

Business

Who produced the VX poison that killed Kim Jong-nam?

After the two women dab Kim in the face with a toxic liquid, Huong is seen on separate footage making her way to a restroom while holding her hands high above her head to avoid contact. Seoul's foreign ministry expresses shock and says North Korea is in violation of the Chemical Weapons Convention and other global norms. For example, Saddam Hussein is believed to have used VX nerve agent on Kurdish citizens of Iraq in the 1980s.

Business

UPS launches drone delivery from package vehicle

The Workhorse Group's HorseFly unit-which can buzz along for about a half-hour, carrying packages that don't exceed 10 pounds-traveled a quarter-mile or so from the truck to the farm, dropped off its package, then circled back to find the UPS truck, on its way to a new destination.

Business

Little Live Pets Lil Frog plastic toy recall

Battery chemical leaks are forcing the recall of some very popular plastic toy frogs. The recall includes an additional 17,000 toy frogs sold in Canada. The date code range is WS112016 to WS123216. According to the U.S. Consumer Product Safety Commission (CPSC), about 427,000 of the toys were sold across the United States at Target, Toys "R" Us, Walmart and Amazon.com beginning in August.

Business

Weatherill hits out at penalty rate cut

Public holiday rates will be reduced from 1 July 2017 in the Hospitality Award, Restaurant Award, Clubs Award, Retail Award, Fast Food Award, and the Pharmacy Award. Changes to penalty rates have always been protested and debated. ACTU President Ged Kearney said the ruling was detrimental to workers on minimum wages.

Business

Korea will not affect Malaysia's status

Malaysian police said VX was wiped on the North Korean exile's face at Kuala Lumpur International Murder by two women as he prepared to board a flight to Macau. It is listed as a chemical weapon under the Chemical Weapons Convention Act 2005 and Chemical Weapons Convention 1997. Security cameras show the two women quickly walking away from Kim in opposite directions after putting the poison on his face.

Business

Warren Buffett sticks to business, avoids politics in letter

Operating earnings per Class A equivalent share fell to $2,665 from $2,843 in the a year ago period. Its segments include GEICO, General Re Corporation (General Re), Berkshire Hathaway Reinsurance Group (BHRG), Berkshire Hathaway Primary Group, Burlington Northern Santa Fe, LLC (BNSF), Berkshire Hathaway Energy, Manufacturing, McLane Company, Service and retailing, and Finance and financial products.

Business

Where PT Stands For Tesla, Inc. (TSLA)

The third largest holder is Price T Rowe Associates Inc /Md/, which now holds $3.25 billion worth of this stock and that ownership represents almost 7.99% of its market capitalization. The stock grabbed 99 new institutional investments totaling 964,580 shares while 67 institutional investors sold out their entire positions totaling 909,597 shares.

Business

Stifel Nicolaus Gives EMCOR Group Price Target With Potential 10.34% Upside

Boston Advisors LLC's holdings in Emcor Group were worth $7,275,000 as of its most recent filing with the SEC. A number of other large investors also recently bought and sold shares of the stock. EME has been the topic of several recent research reports. Having a price of $61.63, EMCOR Group (NYSE:EME) traded -10.02% lower on the day. Based on the brokers price target of 68, this means Stifel Nicolaus believes there is a potential increase of 10.34% from the current stock price of 61.63.

Business

Analysts Estimates and Ratings: Teekay Tankers Ltd. (NYSE:TNK)

The biggest institutional shareholders in Teekay LNG Partners L.P. include Neuberger Berman LLC which owns 10 million shares in the company valued at $148.15 million. The firm has price volatility of 4.90% for a week and 5.15% for a month. I am pleased to report that we have continued the momentum from last quarter by securing key commercial contracts, which are expected to contribute to the Teekay Group's consolidated portfolio of fixed-rate contracts.

Business

Junee reacts to Sunday and holiday penalty rate cuts

But if by chance it declines and fails to prop up the number of full time jobs, this may strengthen the case for another rate cut this year. Hospitality workers would see their Sunday and Public Holiday rates cut. The Fair Work Commission acknowledged that a substantial proportion of employees affected are low paid. "That is bad for workers, bad for business and bad for the general public".

Business

Featured Stock: Abercrombie & Fitch Co. (NYSE:ANF)

Given its history, the average earnings announcement surprise was -25.92 percent over the past four quarters. Also, comps returned to the positive territory, while also improving sequentially, backed by solid Hollister comps and strong global performance.

Business

Bank of Ireland cautious about Brexit

A dividend had been expected to be announced this year but the effects of Brexit and a widening pension deficit last year resulted in the bank postponing it for 12 months. Its core loan book rose, led by a 6 percent increase in new lending in Ireland where it benefited from continued stellar economic growth. Four out of five analysts surveyed by Bloomberg News before the earnings announcement expected Bank of Ireland to pay a dividend for 2016, a move that would have signaled one of the ...

Business

China is 'champion' of currency manipulation

Trump revived a regular theme from his campaign on Thursday, describing China as "grand champions" of currency manipulation in an interview with Reuters . While Chinese scholars seemed unhappy at Trump's allegation, several economists in and outside China also rejected Trump's claim of willingly bringing down the value of the yuan, with an aim to encourage its own exporters and crippling USA manufacturers.

Business

Berkshire Hathaway profits jump 15%

Berkshire Hathaway Inc (BRKa.N) Chairman Warren Buffett on Saturday offered his latest critique of fund managers, saying that "both large and small investors should stick with low-priced index funds". Warren Buffett's Berkshire Hathaway Inc. said fourth-quarter net earnings rose almost 15%, boosted in part by the stock market's end-of-year gains.

Business

Penalty Rate Cuts Offer Big Break To CE And Appliance Retailers

They claim a higher wage for Sunday staff is no longer justified in a 24/7, seven-day-a-week economy, where workers see no difference in working Sundays compared to Saturdays. "It will mean that people will be forced to make up for that cut, whether it is through getting a second or third job, whether it's through becoming more dependent on their family and friends or turning to or becoming more dependent on welfare", she said.

Business

Canada's MacDonald Dettwiler to Buy US Satellite-Imaging Firm DigitalGlobe

Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. Other analysts have also recently issued research reports about the company. CSFB reaffirmed an "outperform" rating and issued a C$93.00 price objective on shares of Macdonald Dettwiler & Associates in a research note on Tuesday, November 15th.

Business

JC Penney closing up to 140 stores nationwide; local impact uncertain

But, JCPenney is the latest to take the store closure route - joining Macy's Inc., Sears and others - in hopes of staying above water during retail's turbulent time. Penney stores will be closed. Rimrock Mall spokesman Daron Olson said officials from J.C. Penney did not contact anyone at Rimrock Friday about the closures.

Business

Kasich Takes Pro-Medicaid Message To Meeting With President Trump

But during a press briefing on Tuesday, White House press secretary Sean Spicer insisted that Kasich requested the meeting. He said Trump was very responsive to his concerns about the GOP's push to repeal and replace the Affordable Care Act, which has allowed 700,000 Ohioans to gain insurance since its enactment.

Business

JC Penney closing 130 to 140 stores, two distribution centers

Penney brand". The company expects a net increase in hiring as it implements a voluntary early retirement program for 6,000 eligible associates nationwide, Thomas said. However, the company did turn a profit in 2016 for the first time since 2010 - notably due to "record" online sales, said Ellison. Macy's, which still has a store in the Holyoke Mall at Ingleside, shut down the Eastfield Mall store a year ago, along with the store in the Berkshire Mall and furniture and department stores in ...

Business

James Franco, Jodie Foster, Seth Rogen to attend immigrant rights rally

Which celebrities will kick off? Meanwhile, acting icon Foster admitted that while she usually doesn't use her face to promote political acitivism, she felt this time things were different. The Oscar-nominated Iranian director Asghar Farhadi sent a video message to the rally after he chose to boycott the awards ceremony over the travel ban affecting the seven Muslim-majority countries.

Business

JC Penney to close 130-140 stores

In addition to closing 130 to 140 stores, the company will also shutter two distribution centers in efforts to better focus on existing stores that are performing well. Management at many area J.C. Penney locations could not be reached early Friday to verify their stores' status. JC Penney posted its first profit since 2011 in the fiscal year that ended on Jan 31, with net income of $1 million.

Business

INSYS Therapeutics, Inc. (NASDAQ:INSY) Met Earnings 1 times

The stock is performing 52.74% year to date. The stock's market capitalization is 918.66M, it has a 52-week low of 8.70 and a 52-week high of 21.22. The firm had put out a Outperform rating.Previously, the coverage launch was announced by Oppenheimer on Jul 31, 2013, with a rating set to Outperform.


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