Warren Buffett's Berkshire Hathaway has cut its Wells Fargo. Its stake in Wells Fargo is now at a 17 year low. On Friday, Berkshire Hathaway said it owns 3.3% of the company, its slimmest ownership position since 2003. In 1994, Berkshire owned 13.3% of the bank. It held more than 500 million shares worth more than $27 billion in 2016. Buffett's company now holds fewer than 140 million shares, worth about $3.4 billion.
Regulatory filings show Warren Buffett's Berkshire Hathaway has sold about 101 million Wells Fargo shares in recent weeks. The billionaire investor's company cut its holdings by about 43% to 136 million shares, slashing its stake to 3.3%. The sales come after Berkshire sold 25% of its Wells Fargo position in the second quarter. Berkshire was previously Wells Fargo's largest shareholder. Business Insider reports that Wells Fargo was one of its five most valuable positions earlier this year.
Warren Buffett's Berkshire Hathaway saw the value of its Apple stock tumble as much as $19 billion in two days. On Thursday, Apple's stock price dropped 8%. On Friday, Apple dropped as much as 7%. That cut the value of Berkshire's roughly 981 million shares in the tech titan to below $110 billion. Berkshire has still more than tripled the value of its Apple investment, as it spent about $35 billion to build the 5.7% stake.
Warren Buffett's Berkshire Hathaway disclosed a $6 billion bet on five of Japan's biggest trading companies. The news was released Sunday night in a press release. The billionaire investor's company revealed that it owns just over 5% of Mitsubishi, Mitsui, Itochu, Marubeni, and Sumitomo. Business Insider reports that all five firms rose between 4% and 10% on Monday.
Footage showing the unboxing of the new iPhone 12 (red) and iPhone 12 Pro(grey). The new iPhone 12, iPhone 12 Pro and iPad Air are due to go on sale onFriday. In preparation, Apple has announced a new feature for its retailstores called Shopping Sessions, where customers can book a one-on-one slotwith an Apple Store employee to help select the new product they want. Thesame advice is also being made available online, with customers able to chatwith specialists before deciding on a purchase. For online purchases,contactless delivery is available for all products, Apple said, including thenew iPhone and iPad.
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Financial planner and Business Insider contributor Malik S. Lee says he's surprised when clients don't list their income as one of their most valuable assets. Can you support yourself and your family without an income? If not, it's a key asset--and you should protect it. Group long-term disability policies from employers typically cover 60% of your income. But according to Business Insider, that income is taxable and doesn't include bonuses or commissions.
Business Insider contributor Kevin L. Miller II has vowed to give his children a running start to their adult life, by building wealth for them as they age. Within weeks of bringing each of his children home from the hospital, they all had a 529 college savings plan and a custodial account. In fact, Miller says that by the time his son turns 18, he'll have 75 times more in savings than he had at that age. To build generational wealth, Miller says it must start with communication.
Business Insider reports that McDonald's franchisees are optimistic about the future of the business. The franchisees optimism is higher than it has been in years, according to Kalinowski Equity Research's quarterly survey. McDonald's sales have been driven by speciality meals and new items like Spicy McNuggets. The fast-food giant has also profited from sit-down restaurants' struggles.
On Tuesday, Amazon announced Tuesday that it's hiring 100,000 seasonal workers ahead of the holidays. The company said it's looking for workers across experience and skill levels to help pack and ship holiday orders. Business Insider reports that the new roles bring Amazon's total hiring to more than 400,000 since March. The company has faced a rise in online orders amid the coronavirus pandemic.
On Saturday, Sen. Lisa Murkowski said that will vote to confirm Amy Coney Barrett to the Supreme Court. Murkowski was opposed to confirming a Supreme Court judge to the court so close to the election. She decided to back Barrett due to her judicial philosophy. "I have concluded that she is the sort of person we want on the Supreme Court," Murkowski said. "I have no doubt about her intellect," she said from the Senate floor. Business Insider reports that Barrett is on the verge of confirmation.
Reuters Starbucks has begun rolling out tumblers with a black-and-white, Halloween-themed pattern. The cups glow in the dark. Starbucks is also selling a six-pack of reusable cups with glow-in-the-dark lids for hot drinks. While you can't use the cups in stores amid the pandemic, customers can show the new Halloween-themed tumbler when ordering for a 10-cent discount. Visit Business Insider's homepage for more stories. Fall is here for Starbucks, and that doesn't just mean new drinks.
Photo by Tom Dulat/Getty Images Starbucks is not bringing its Pumpkin Spice Latte back to stores in the Middle East this year. "Unfortunately, PSL won't be available this year due to Business and Operations reasons," Starbucks Middle East wrote on Facebook. But, in the Middle East — where the chain has hundreds of stores in countries including the United Arab Emirates, Kuwait, and Qatar — the iconic autumnal beverage is nowhere to be seen.
Japan's ANA Holdings on Tuesday said it will retire more than a tenth of its mostly Boeing fleet and delay two aircraft orders to help rein in costs and survive a collapse in air travel caused by coronavirus travel restrictions. Francis Maguire reports.
British Airways’ last two Heathrow-based Boeing 747 planes have embarked on their final flights, with one landing at St Athan Airfield in Wales, and the other at Kemble Airfield in the Cotswolds. Report by Patelr. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
A VVIP aircraft Air India One arrived at Delhi International Airport on Thursday. The aircraft was delivered from the USA and will be used for the President, Vice-President and Prime Minister. The B&&& Aircraft was scheduled to be delivered by Boeing to Air India in July. The aircraft is equipped with an advanced communication system where audio and video functions can be availed at mid-air without being hacked. Watch the video for more details.
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In an interview with Hindustan Times Delhi deputy chief minister Manish Sisodia stressed that coding is the need of the hour. The Delhi government which had introduced scratch level coding in school curriculums earlier this year is now taking it to the next level by partnering with Hindustan Times Codeathon. Around 12,000 government school students in the capital are set to benefit from the initiative, says Sisodia, who holds the education portfolio. As part of the Codeathon campaign, students will go through self-learning modules on HTML, CSS and Python. Online qualifiers and Finale will be conducted in December. Sisodia spoke on the importance of coding in a digital economy, encouraging more students to learn coding, and the way forward.HT Codeathon: Presenting Sponsor Cuemath, Powered by Delhi Government, Coding for Cause Partner IBM. To register, visit www.htcodeathon.com
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International Business Machines is splitting itself into two public companies, capping a years-long effort by the world's first big computing firm to diversify away from its legacy businesses to focus on high-margin cloud computing. Fred Katayama reports.
Warren's Buffett's Berkshire Hathaway made a $570 million bet on Snowflake. According to Business Insider, the move shoes Buffett trusts his two portfolio managers, Todd Combs and Ted Weschler. "Buffett has given full agency to his lieutenants," Jake Taylor, CEO of Farnam Street Investments and cohost of the "Value: After Hours" podcast, told Business Insider. "A high-profile tech IPO is a resounding confirmation that his actions match his words," he added.
Warren Buffett's investment in his Apple has easily exceeds his personal fortune.
Buffett owns investment conglomerate Berkshire Hathaway.
The company spent about $35 billion to buy 245 million Apple..
Warren Buffett's investment in Apple has tripled in value to north of $100 billion.
Buffett's Berkshire Hathaway spent about $35 billion to build the 5.7% stake in Apple
The 10% rise in Apple's stock..