Category: News
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Somalia beach attack kills 37 civilians, minister says By Reuters
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MOGADISHU (Reuters) – At least 37 civilians were killed and 212 wounded in a blast at a popular beachside restaurant in Somalia’s capital late on Friday, the health minister said, in an attack the government blamed on Islamist militant group al Shabaab. Ali Haji told a news conference that 11…
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Berkshire Cuts Apple Stake by Almost Half in Selling Spree
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(Bloomberg) — Berkshire Hathaway Inc. cut its stake in Apple Inc. by about 50% as part of a massive second-quarter selling spree that left billionaire Warren Buffett’s cash pile at a record $276.9 billion. Most Read from Bloomberg In all, Berkshire Hathaway sold $75.5 billion worth of shares on a…
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Viking obesity drug to rival Eli Lilly’s: report (NASDAQ:VKTX)
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Carolina Rhoda/iStock via Getty Images Eli Lilly (NYSE:LLYPopular obesity treatment Zepbound could face direct competition from Viking TherapeuticsNASDAQ:VKTX), with the latter expected to launch its flagship weight loss product VK2735 within the next few years, according to data analytics firm GlobalData. He said this week. The prediction comes after the…
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Warren Buffett’s Berkshire Hathaway dumps $75.5 billion worth of stock
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Berkshire Hathaway Inc. cut its stake in Apple Inc. by about 50% as part of a massive second-quarter selling spree that has left billionaire Warren Buffett’s cash pile at a record $276.9 billion. Berkshire Hathaway, based in Omaha, Nebraska, said Saturday that it sold $75.5 billion worth of shares during…
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I spent Sh1m savings on a wedding, how can I raise money for a house and car?
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I am Wilson, 29 years old. I earn $1,237. I pay five percent withholding tax every month because the company is foreign and not registered in the country. So, they use another partner company that is registered locally. They receive dollars and pay me in Kenyan shillings at the current…
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Britain’s battery industry could spark revival with local LFP production
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The UK battery industry, which has been in decline, could see a boost with the introduction of locally produced lithium iron phosphate (LFP), a key component in electric vehicle (EV) batteries. Behnam Hormozi, founder of Integrals Power, believes that producing a cleaner, higher-quality version of the LFP battery in the…
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Mobileye slumps after cutting 2024 guidance
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Israeli Advanced Driving Assistance Systems (ADAS) stock price Mobily International Company (Nasdaq: MBLY) is trading sharply lower in premarket trading on Wall Street after disappointing the market with a lowered outlook. The company, led by CEO and co-founder Amon Shashua, expects annual revenue of $1.6 billion to $1.68 billion, down…
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Is the small-cap rally sustainable? Wells Fargo weighs in By Investing.com
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Small-cap U.S. stocks, which the index represents, have outperformed the S&P 500 by more than 10% since early July, driven by expectations of a Federal Reserve rate cut and market speculation about the upcoming election. For an asset class that has consistently underperformed for most of the past decade, this…
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These 3 Stocks Will Soar If Kamala Harris Wins in November
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The upcoming presidential election could be close. It’s not too early for investors to start thinking about the best opportunities, depending on who wins. I’ve already written about stocks that I expect to perform well. If Republican presidential candidate Donald Trump winsHowever, Vice President Kamala Harris — the presumptive Democratic…
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Hawaiian Electric, others reach $4B settlement with Maui wildfire plaintiffs (NYSE:HE)
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My Photographer Friend/iStock via Getty Images Hawaiian Electrical Industries (New York:HE) and six other defendants have reached a $4 billion settlement that will resolve lawsuits filed by hundreds of victims of last year’s Maui wildfires. Under the proposed global settlement, which remains subject to final documentation and court approval, Seven…
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Hawaiian Electric, others reach $4B settlement with Maui wildfire plaintiffs (NYSE:HE)
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My Photographer Friend/iStock via Getty Images Hawaiian Electrical Industries (New York:HE) and six other defendants have reached a $4 billion settlement that will resolve lawsuits filed by hundreds of victims of last year’s Maui wildfires. Under the proposed global settlement, which remains subject to final documentation and court approval, Seven…
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The legacy of Paris puts future Olympics at risk—is it time to pick a single, permanent host for the games?
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Paris won the 2024 Olympic Games with the promise of hosting the most economical and sustainable Games in modern history. By leveraging existing infrastructure for 95% of events, complying with the Paris Agreement on climate change, and renewing the reputation of the Games, Paris has set a new standard for…
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KenGen ordered to pay Sh10 million for farms destroyed by oil spill
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A court has ordered Kenya Electricity Generating Company Limited (KenGen) to pay Sh10 million to some farmers whose farmlands along the Tana River were damaged by oil leakage from its power plant during the rainy season. The Garissa Environment and Land Court ordered Kingen, under the supervision of the Garissa…
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High Arctic Announces TSX Venture Exchange Conditional Approval of Listing of SpinCo Shares
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This section is Partnership Content Provided The content in this section has been provided by GlobeNewswire for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content. by Globe Newswire Breadcrumbs Path Links Globe Newswire Article author: Published on August 2, 2024 •…
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High Arctic Announces TSX Venture Exchange Conditional Approval of Listing of SpinCo Shares
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This section is Partnership Content Provided The content in this section has been provided by GlobeNewswire for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content. by Globe Newswire Breadcrumbs Path Links Globe Newswire Article author: Published on August 2, 2024 •…
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Viola Credit closes $600m of $1.5b credit fund
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Viola Credit, a global asset fund that provides credit to emerging companies, today announced the first close of its $600 million third fund, designed to provide asset-backed credit to global fintech companies. Viola Credit says this is the first phase of a $1.5 billion deal, which will fully close in…
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U.S. keeps Vietnam as non-market economy, despite efforts to woo Hanoi By Reuters
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By David Brunstrom and Phuong Nguyen WASHINGTON/HANOI (Reuters) – The U.S. Commerce Department said on Friday it will continue to classify Vietnam as a non-market economy, a disappointing decision for Hanoi, which the United States has been courting as part of its efforts to counter China. Vietnam has long sought…
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Why investors should buy the ongoing dip in stocks, Fundstrat says
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Tyler Kahn/B Tom Lee of Fundstrat advises buying stocks as they continue to fall despite worrying economic data. Technology stocks have been stumbling lately on disappointing earnings and volatility in the chip sector. He tells me that the upcoming guidance from the Federal Reserve and a potential interest rate cut…
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Gold dips on weak U.S. jobs report but analysts see more record highs ahead (NYSEARCA:GLD)
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monsitj/iStock via Getty Images Gold futures ended lower on Friday, reversing earlier gains, as part of a general sell-off in riskier assets after a weak U.S. jobs report raised concerns that the Federal Reserve’s hold on interest rates could cause a real economic slowdown. the prices U.S. stocks briefly rose…