Markets
Berkshire Hathaway profit falls as insurance underwriting declines
Earnings also barely budged at Berkshire's manufacturing businesses, where USA tariffs hurt sales of gas turbine and pipe products at its Precision Castparts unit, and its service and retailing businesses. As of June 30, Berkshire had a $18.7 billion stake in equity securities in American Express, $50.5 billion in Apple, $27.6 billion in Bank of America, $20.4 billion in Coca-Cola and $20.5 billio... [Full Article...]
Goals Soccer to de-list as accounts probe finds "improper behaviour"
In a trading update, the East Kilbribe-based group said that following "ongoing detailed investigatory work" into accounting policies and practices it had become "very recently evident that there has been improper behaviour within the company". [Full Article...]
Bank holds rates and slashes growth forecast in face of Brexit worries
Repeats response to Brexit could go in either direction . While this will be the last inflation report before the Brexit deadline, the Bank has also been asked by the Treasury Select Committee to provide fresh analysis on the economic impact of Brexit scenarios, including a cliff-edge withdrawal. [Full Article...]
Heathrow airport: talks resume to avert strike action
Workers at Heathrow Airport, including security guards, firefighters and engineers, voted by nearly 9-1 to reject a pay offer, says union Unite . Unite said that some 88,000 passengers could be disrupted if 20 per cent of flights are cancelled on Monday and Tuesday, amounting to compensation of 2.3 million pounds (S$3.9 million dollars) for the airlines affected. [Full Article...]
British pound falls to new low after U.S. rate cut
USA dollar notes are seen in this November 7, 2016 picture illustration. The Fed's policy decision drew dissents from Boston Fed President Eric Rosengren and Kansas City Fed President Esther George who argued for leaving rates unchanged in the face of the current economic expansion, an unemployment rate that is near a 50-year-low, and robust household spending. [Full Article...]
IBM fired 1,00,000 older employees to look 'cool,' alleges lawsuit
Langley, previously a salesman with IBM , had sued the company previous year "for unfairly ditching older capable staff to replace them with so-called early professional hires", news agency IANS reported . "The company hires 50,000 employees each year". This is just another addition to the plethora of lawsuits filed against IBM for targeting people based on their age. [Full Article...]
Ford’s new 7.3-liter Super Duty truck V8 rated best-in-class
The new 7.3-liter engine that develops 430 horsepower and 475 ft. -lb. of torque, which for a gasoline engine in this class are the best on the market. "This engine has the largest displacement in its class and is created to provide benefits in key areas like power, durability, ease of maintenance, and total operating costs". [Full Article...]
Campbell confirms sale of Tim Tam-maker Arnott's for $2.2 billion
RETURNS: There was a daily return of 6.49705, a daily log return of -1.73664 and a cumulative return of -1.72165. A number of research analysts have commented on CPB shares. Investors of record on Friday, July 12th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.40 annualized dividend and a dividend yield of 3.29%. [Full Article...]