Warren Buffet news

• How Corporate America Tries to Forget Its Mistakes

  08-06-2018 17:18 via blogs.wsj.com
  Companies are notorious for burying their blunders. “You can understand why the people who made the mistake want to make sure it gets forgotten before it makes an impact on their pay,” says Charles Munger, Warren Buffett’s business partner.
  “It’s in the nature of humans and organizations, after they succeed mightily, to get very pompous and complacent,” says Mr. Munger when asked about Wells Fargo & Co., which has had repeated failures of risk management.
  
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• Warren Buffett’s Squishmallows firm sues Build-A-Bear amid ‘knock-off’ claims

  13-02-2024 14:45 via theguardian.com
  
  Jazwares claims that rival has created its own pillow-like toys to cash in on its viral successThe company behind Squishmallows, the squidgy pillows-with-a-face that count Lady Gaga and Kim Kardashian among their fans, has filed a lawsuit against Build-A-Bear over claims it has produced a “knock-off” to cash in on its success.Jazwares, which Warren Buffett’s Berkshire Hathaway acquired two years ago as Squishmallows became a global TikTok sensation, said that Build-A-Bear Works
  
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• China’s BYD overtakes Tesla as top-selling electric car seller

  02-01-2024 17:17 via theguardian.com
  Build Your Dreams outsells rival in final quarter of 2023 figures for battery-only vehiclesElon Musk’s Tesla has been overtaken by its Chinese rival, BYD, as the world’s top selling electric carmaker.BYD, which has been backed by the US investment billionaire Warren Buffett since 2008, has beaten Tesla’s production for a second consecutive year. Continue reading...
  
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• Charlie Munger: the aphorism-loving, bitcoin-hating sage behind Warren Buffett

  29-11-2023 18:58 via theguardian.com
  Munger, who has died at 99, won fans for a quick wit that cut much of the business world down to size“If people weren’t so often wrong, we wouldn’t be so rich,” Charlie Munger, the right-hand man of the billionaire stock picker Warren Buffett, once said of rival investors.It was that humour, paired with decades of investment successes, that endeared Munger to a global business community now in mourning after news of his death at the age of 99 on Tuesday night. Continue re
  
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• Charlie Munger, right-hand man of Warren Buffett, dies aged 99

  28-11-2023 23:05 via theguardian.com
  Vice-chairman of Berkshire Hathaway – and a billionaire in his own right – died at a California hospital, company saysCharlie Munger, the veteran right-hand man of billionaire stockpicker Warren Buffett, has died aged 99.The vice-chairman of Berkshire Hathaway, Buffett’s sprawling empire, became known for his sharp investment strategies – and tongue – as they transformed it from a textile manufacturing enterprise into a global investment powerhouse. Continue reading
  
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• US home sellers win $1.78bn over inflated buyers’ commissions

  01-11-2023 01:12 via theguardian.com
  
  Federal jury rules against National Association of Realtors and some units of Warren Buffett’s Berkshire HathawayA US jury on Tuesday found the National Association of Realtors (NAR) and some residential brokerages, including units of Warren Buffett’s Berkshire Hathaway, liable to pay $1.78bn in damages for conspiring to artificially inflate commissions for home sales.The verdict by a federal jury in Kansas City, Missouri, could upend decades-old practices that have allowed real esta
  
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• US banking crisis: Warren Buffett says bosses should face ‘punishment’

  07-05-2023 17:23 via theguardian.com
  
  Billionaire investor believes ‘CEO and directors should suffer’ when banks they run get into troubleLarry Elliott: can Biden escape fallout from US banking crisis?The billionaire investor Warren Buffett has said executives who led the US banking system into crisis should face “punishment”, as the American economy grapples with the worst series of bank failures since the 2008 financial crash.The owner of the investment firm Berkshire Hathaway said US bank directors “
  
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• Some of the 1% are more generous than others | Letter

  08-02-2023 19:18 via theguardian.com
  
  In response to Tim Worstall of the Adam Smith Institute, Douglas Graham says being wealthy doesn’t preclude someone from working for a fairer worldRe the claim by Tim Worstall of the Adam Smith Institute (Letters, 31 January) that 25% of Guardian readers may be among the wealthiest 1% of the world’s population (and the implication that therefore their response to articles like Nesrine Malik’s is mere attitudinising), the model of human nature favoured by the Adam Smith Institut
  
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• ‘Joe Biden blew it’: rail unions decry plan to impose deal through Congress

  30-11-2022 18:49 via theguardian.com
  Workers could be prevented by congressional decree from striking over paid sick leave and quality-of-life issuesRailroad workers have expressed dismay at Joe Biden’s proposed solution to a looming strike that threatens to derail the US economy, which they say belies his image as the most pro-union president in generations.As a 9 December deadline looms for the long-running labor dispute between the US’s largest railway companies and their unions, Biden has called on Congress to inter
  
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• US rail unions decry Biden’s proposal to impose settlement through Congress

  30-11-2022 09:00 via theguardian.com
  Workers could be prevented by congressional decree from striking over paid sick leave and quality-of-life issuesRailroad workers have expressed dismay at Joe Biden’s proposed solution to a looming strike that threatens to derail the US economy, which they say belies his image as the most pro-union president in generations.As a 9 December deadline looms for the long-running labor dispute between the US’s largest railway companies and their unions, Biden has called on Congress to inter
  
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• Billionaire MacKenzie Scott donates $15m to help provide glasses to farmers in developing countries

  13-10-2022 01:01 via theguardian.com
  Exclusive: Donation is believed to be the largest single donation towards helping solve the problem of uncorrected blurry visionMacKenzie Scott, the billionaire philanthropist and former wife of the Amazon founder Jeff Bezos, has donated $15m (£13.5m) to a social enterprise that helps provide glasses to farmers in developing countries.Scott’s donation to VisionSpring is believed to be the largest single private donation towards helping solve the problem of uncorrected blurry vision w
  
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• US railroad workers prepare for strike as rail companies see record profits

  14-09-2022 08:00 via theguardian.com
  As Biden’s recommendations fall flat, negotiations between management and unions are at an impasse – and workers are prepared to walkUS freight railroad workers are close to striking over claims that grueling schedules and poor working conditions have been driving employees out of the industry over the past several years.Heated negotiations over a new union contract between railroad corporations and 150,000-member-strong labor unions have been ongoing for nearly three years. A &ldquo
  
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• Buffett-owned lender discriminated against Black homebuyers, DoJ finds

  27-07-2022 20:41 via theguardian.com
  
  Trident Mortgage Company, owned by Berkshire Hathaway, agrees to second-largest settlement over ‘redlining’A mortgage lender owned by the billionaire Warren Buffett’s holding company, Berkshire Hathaway, engaged in lending discrimination against homebuyers of color, or redlining, in communities around Philadelphia, the US Department of Justice announced on Wednesday.An agreement with Trident Mortgage Company resulted in the second-largest settlement over redlining in DoJ histor
  
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• Berkshire Hathaway shareholders vote to keep Warren Buffett as chair

  01-05-2022 00:43 via theguardian.com
  
  Shareholders reject proposals for independent chair and greater disclosure of company’s climate-related risksBerkshire Hathaway Inc shareholders on Saturday rejected proposals to have an independent chair replace Warren Buffett, and require his company to disclose more about its climate-related risks and efforts to improve diversity.Shareholders supported letting Buffett keep both the chairman and chief executive roles by a nearly 6-to-1 margin, Berkshire said at its annual meeting in Omah
  
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• Paypal founder launches tirade against ‘gerontocracy’ over bitcoin

  08-04-2022 16:09 via theguardian.com
  
  Peter Thiel, the libertarian tech investor, says figures such as Warren Buffett are hindering cryptocurrencyPeter Thiel, the co-founder of PayPal and a Donald Trump ally, has accused a “finance gerontocracy” including Warren Buffett and Jamie Dimon of hindering bitcoin’s progress.The outspoken libertarian tech investor described multibillionaire Buffett, the world’s richest investor, as the “sociopathic grandpa from Omaha” in a keynote address at the Bitcoin 2
  
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• ‘White knuckle’ week for tech titans as shares and fortunes fall

  28-01-2022 19:52 via theguardian.com
  
  Nine of world’s 10 richest billionaires see wealth dented as rising interest rates spur sell-off of ‘stay at home’ stocksThe world’s richest billionaires have lost more than $50bn (£37bn) this week as their fortunes – mostly held in technology companies – dropped in a “white knuckle” rout on tech shares.Elon Musk, the wealthiest person on the planet, saw his fortune fall by $25.8bn in a single day on Thursday, according to the latest data ava
  
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• Wealthiest Americans’ tax avoidance – the shock report’s most striking details

  10-06-2021 12:00 via theguardian.com
  
  A new investigation by ProPublica shows in some years men such as Jeff Bezos and Elon Musk paid no federal income taxThat wealth largely remains in the hands of the already wealthy is nothing new. Income inequality in the US has only increased since the 1980s, far exceeding that of the UK and other G7 nations; upper-income families have increased their share of the country’s aggregate income in that same timeframe while middle-income households have lost theirs in proportion; and three of
  
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• Richest 25 Americans reportedly paid ‘true tax rate’ of 3.4% as wealth rocketed

  08-06-2021 20:52 via theguardian.com
  
  ProPublica investigation shows how little US super-rich including Jeff Bezos and Elon Musk reportedly paid between 2014 and 2018The 25 richest Americans including Jeff Bezos, Warren Buffett and Elon Musk paid a “true tax rate” of just 3.4% between 2014 and 2018, according to an investigation by ProPublica, despite their collective net worth rising by more than $400bn in the same period. Related: Global economy set for fastest recovery for more than 80 yearsContinue reading...
  
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• Bill Gates and Warren Buffett to build new kind of nuclear reactor in Wyoming

  03-06-2021 04:20 via theguardian.com
  
  The project in Wyoming – the country’s top coal-producing state – is a small advanced reactor that runs on different fuels to traditional onesPower companies run by billionaire friends Bill Gates and Warren Buffett have chosen Wyoming to launch the first Natrium nuclear reactor project on the site of a retiring coal plant.TerraPower, founded by Gates about 15 years ago, and power company PacifiCorp, owned by Warren Buffett’s Berkshire Hathaway, said on Wednesday that the
  
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• Fund management ‘irretrievably broken’, says star investor

  13-05-2021 18:27 via theguardian.com
  
  James Anderson of Baillie Gifford criticises ‘near pornographic allure’ of earnings reports and headlinesThe star technology investor James Anderson has taken a parting shot at fellow fund managers addicted to the “near pornographic allure” of earnings reports and macroeconomic headlines, as he claimed the industry was “irretrievably broken”.The outgoing co-manager of the FTSE 100-listed Scottish Mortgage Investment Trust said his own “greatest failing h
  
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• Fund management ‘irretrievably broken’, says James Anderson

  13-05-2021 18:27 via theguardian.com
  
  Baillie Gifford’s outgoing star investor criticises ‘near pornographic allure’ of earnings reports and headlinesThe star technology investor James Anderson has taken a parting shot at fellow fund managers addicted to the “near pornographic allure” of earnings reports and macroeconomic headlines, as he claimed the industry was “irretrievably broken”.The outgoing co-manager of the FTSE 100-listed Scottish Mortgage Investment Trust said his own “great
  
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• Warren Buffett names Greg Abel as next CEO of Berkshire Hathway

  03-05-2021 20:01 via theguardian.com
  
  Billionaire, 90, lets slip plan for vice-chairman to take over at $644bn investment groupBillionaire investor Warren Buffett has confirmed that the vice-chairman of his Berkshire Hathaway investment conglomerate, Greg Abel, will succeed him as chief executive.The 90-year-old’s succession plan was teased out of him – apparently by accident – by his longtime business partner, 97-year-old Charlie Munger, at the company’s annual meeting over the weekend. Buffett, speaking to
  
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• Warren Buffett names Greg Abel as next CEO of Berkshire Hathaway

  03-05-2021 20:01 via theguardian.com
  
  Billionaire, 90, lets slip plan for vice-chairman to take over at $644bn investment groupBillionaire investor Warren Buffett has confirmed that the vice-chairman of his Berkshire Hathaway investment conglomerate, Greg Abel, will succeed him as chief executive.The 90-year-old’s succession plan was teased out of him – apparently by accident – by his longtime business partner, 97-year-old Charlie Munger, at the company’s annual meeting over the weekend. Buffett, speaking to
  
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• Warren Buffett warns about inflation amid ‘red hot’ recovery from pandemic

  02-05-2021 15:57 via theguardian.com
  
  Legendary investor also warns about share-trading apps and investment Spacs while partner calls cryptocurrencies ‘disgusting’The billionaire investor Warren Buffett has warned of inflation hitting the US economy amid a “red hot” recovery from the worst of the coronavirus pandemic.Buffett said his portfolio companies were “seeing very substantial inflation” in a range of sectors amid shortages of raw materials and high savings among those who kept jobs but were
  
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• Warren Buffett says online trading platforms encourage ‘gambling impulse’

  02-05-2021 03:16 via theguardian.com
  
  Legendary investor warns about the risks of stock trading while his partner calls cryptocurrencies ‘disgusting’Warren Buffett warned people not to think investing is an easy way to make a fortune as he answered a variety of questions at the annual meeting of his conglomerate Berkshire Hathaway.Speaking in Los Angeles, the legendary billionaire investor said it could be tough to pick the long-term winners. He pointed out that in 1903 there were more than 2,000 car companies, and nearl
  
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• Warren Buffett, Amazon, Starbucks and others condemn voting restrictions in letter

  14-04-2021 16:46 via theguardian.com
  
  ‘Voting is the lifeblood of our democracy,’ says the double-page letter published in the New York Times and Washington PostAmazon, BlackRock, Google, Starbucks, billionaire investor Warren Buffett and hundreds of other companies published a letter on Wednesday condemning “discriminatory legislation” designed to hinder voting rights in the US.The letter – the biggest statement yet from corporate America – follows weeks of heated debate over corporate opposition
  
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• Ten billionaires reap $400bn boost to wealth during pandemic

  19-12-2020 17:00 via theguardian.com
  
  Covid-19 pushed many into poverty but brought huge benefits for some of the wealthiest, renewing calls for fairer taxes
  Coronavirus - latest updatesCoronavirus - see all our coverageTen of the richest people in the world have boosted their already vast wealth by more than $400bn (£296bn) since the coronavirus pandemic began as their businesses were boosted by lockdowns and financial crises across the globe.The extra wealth accumulated by the 10 men – approximately $450bn, using Forbe
  
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• MacKenzie Scott: ex-wife of Jeff Bezos gives away $4bn in four months

  16-12-2020 10:11 via theguardian.com
  
  The 50-year-old, who was married to Amazon founder for 26 years, donates to Covid charitiesCoronavirus – latest updatesSee all our coronavirus coverageMacKenzie Scott, the ex-wife of the Amazon founder, Jeff Bezos, has donated more than $4bn in the past four months to hundreds of charities and aid organisations, including food banks fighting the impact of the coronavirus pandemic.Scott, who has a personal net worth of more than $60bn (£44.5bn), pledged to give away much of her wealth
  
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• Warren Buffett makes big investment in US pharmaceutical firms

  17-11-2020 19:21 via theguardian.com
  
  Berkshire Hathaway bought $5.7bn worth of shares in four companies in third quarterThe investment company run by billionaire investor Warren Buffett bet $5.7bn (£4.3bn) on pharmaceutical companies during the third quarter of 2020, as the sector takes centre stage in the fight against the coronavirus pandemic.Berkshire Hathaway bought shares in drug companies AbbVie, Bristol-Myers Squibb, Merck and Pfizer between July and September, according to filings with the US regulator. Continue readi
  
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• How philanthropy benefits the super-rich – podcast

  28-09-2020 13:00 via theguardian.com
  
  There are more philanthropists than ever before. Each year they give tens of billions to charitable causes. So how come inequality keeps rising?Continue reading...
  
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