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Famed investor Warren Buffett's Berkshire Hathaway placed a $2.7 billion bet on Paramount in 2022. But when someone who's worth an estimated $132 billion says "quite a bit of money," it's probably a very big amount. The math: In 2022, Berkshire accumulated 91 million shares of Paramount B shares; Barron's estimates he paid "more than $30" per share. AdvertisementThat left Berkshire with another 63.3 million Paramount shares at the beginning of 2024, and sometime between then and Saturday they have sold off the rest. Add all that up, and it looks like Berkshire sold its Paramount stake for $1.2 billion after paying $2.7 billion for it — a $1.5 billion loss.
Persons: Warren Buffett's Berkshire Hathaway, hasn't, — Buffett, , Warren Buffett, Berkshire Hathaway, Buffett, we've, Berkshire Hathaway hasn't, Berkshire Organizations: Paramount, Service, Sony, Apollo, Berkshire, Bloomberg Locations: Berkshire
Donald Trump will get a break from his criminal trial to attend Barron's high school graduation. Trump had asked the judge in his hush-money case for the day off. On Tuesday, noting jury selection wrapped up quickly, the judge allowed it. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFormer President Donald Trump can attend his son Barron's high school graduation after all.
Persons: Donald Trump, Trump, , Barron's, Juan Merchan, Merchan didn't Organizations: Service, New, Business
Trump has griped that his ongoing criminal hush-money trial — for 34 counts of falsifying business documents — is impairing his campaign to recapture the presidency. He has scheduled events across the country on Wednesdays, the one day each week the trial is not scheduled to take place. According to The Washington Post, Trump's legal team has decided not to stipulate to anything and to fight over everything. (Daniels and Trump were photographed together in 2006, and Daniels attended a Trump vodka event the following year.) This can be "frustrating" for the court in a practical sense, Bederow said, but Trump "has a right to do it."
Persons: , Donald Trump, Trump, didn't, Barron's, Mark Bederow, Stormy Daniels, Michael Cohen, Daniels, Cohen, Stephanie Clifford, Bederow, That's Organizations: Service, Business, Trump, Trump's, The Washington Post, Republican, District Locations: Manhattan, Pennsylvania, Florida, North Carolina , Georgia
Donald Trump's criminal trial may prevent him from attending son Barron's high school graduation. The judge has not yet decided on Trump's request to skip trial for the graduation event. AdvertisementDonald Trump may have to miss out on his son Barron's high school graduation ceremony next month due to the timing of the former president's first historic criminal trial. Trump's hush-money trial kicked off with jury selection on Monday in a Manhattan courtroom. As the court prepared for the first day of voir dire, New York Supreme Court Justice Juan Merchan said he received requests from Trump's attorneys for the former president to skip out on the trial on May 17 so that he could attend Barron Trump's high school graduation in Florida.
Persons: Donald Trump's, Barron's, , Donald Trump, Juan Merchan, Barron Organizations: Service, Barron Trump's Locations: Manhattan, New, Florida
Two months ago, I wrote a story entitled, "The IPO market is looking very shaky and facing challenges galore." Two months later, the IPO market is still shaky, but there are definite signs of improvement. Second, three $100 million IPOs have filed to go public in the past week, including Viking (the cruise line operator) and Rubrik, a data management platform. Greg Martin at Rainmaker Securities told me that the recent performance of Reddit and Astera Labs, "Were nice shots in the arm for the IPO market. Even with markets at new highs, the specter of interest rates creeping up is still hanging over the IPO market.
Persons: Matt Kennedy, Reddit, Greg Martin, Ibotta, Ingram, Del, Viking, Howe Ng, I'm, Martin, Rainmaker, Santosh Rao Organizations: IPOs, Viking, Renaissance Capital, Astera Labs, Rainmaker Securities, NYSE, UL Solutions, Underwriters Laboratories, Nursing, Centuri Holdings, Labs, Companies, Ingram Micro, Epic, Manhattan Venture Partners Locations: IPOs, Del Monte
That beats the fiscal year of rival fast fashion company H&M. AdvertisementIt appears we consumed quite a bit of fast fashion last year. AdvertisementFor a generation of shoppers who say they like to be environmentally conscious, that's a lot of fast fashion — an industry that relies on cheap labor but comes with a heavy environmental cost. Still, it was a recognition from the fast fashion giant that it knows who its audience is and what they care about. But for now, it's onward and upward for fast fashion.
Persons: Zers, millennials, , Barron's, It's, Shein, Janus, Jadrian Wooten Organizations: Service, Financial Times, United Nations Environment, New, Virginia Tech, Sheffield Hallam University, & $ Locations: Zara, England, Guangzhou, China
But let's say you're 30 years old and haven't started stashing money away; you may have difficulty getting there. And as a result of this, if you're going to live during a 30 or 40 year retirement. In Edelman's opinion, you're late to the game if you're over 25 and haven't started saving and investing. When people do set money aside, it's often in the wrong places, such as bank savings, money market accounts, and government bonds, Edelman said. All of this might sound complicated for a beginner, but diversification can be achieved through exchange-traded funds (ETFs), Edelman noted.
Persons: haven't, Ric Edelman, Barron's, Edelman, it's, aren't, Franklin Templeton Organizations: Federal Reserve, Edelman, New York Times, Trust, Vanguard Locations: America
Earth would be more liveable than Mars "even after a nuclear war" and climate change, he said. It comes as Elon Musk and Jeff Bezos test mega-rockets that could take humans to the red planet. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. The prototype rocket, which is a crucial part of Musk's plan to colonize the red planet, blew up on its previous attempts. The rocket could compete with Starship for NASA's plans to return to the moon ahead of heading to Mars.
Persons: Barack Obama, Elon Musk, Jeff Bezos, Obama, Jeff Bezos's, Glenn Organizations: Service, SpaceX, Amazon Locations: Silicon, Paris, Mars
A TV chef fried a fish on the endangered species list on an Austrian show. Both the chef and the broadcaster, ORF, have apologized for the incident. During the show, which went out last week, the chef whipped up a dish of potato salad with fish fritters, per the report. But the broadcaster, ORF, was soon hit by complaints from anglers after they discovered the fish used in the dish was the endangered Frauennerfling, a near-extinct species, AFP reported. AdvertisementORF also apologized for "cooking a fish which is protected all year round," claiming it had had "different information," the report said.
Persons: , Rutilus, Gregor Gravogl Organizations: IUCN, ORF, Service, Agence France, Presse, AFP, International Union for Conservation of Nature Locations: Austrian, AFP, Barron's, Italy, Switzerland, Austria's
If selective colleges admitted students by score alone — using, say, a 1300 cutoff — the pool would not be very diverse, by race or class. If selective colleges admitted students by score alone — using, say, a 1300 cutoff — the pool would not be very diverse, by race or class. To create a more diverse class, colleges could … But admissions preferences based on race are no longer legal. We Tried to Create a Diverse College Class Without Affirmative Action Now you can try it, too. In our affirmative action model, just 6 percent of admitted students come from the bottom quartile of the income distribution.
Persons: , Sean Reardon, Demetra, NaN %, NaN, It’s, , , Richard Kahlenberg, we’re, didn’t, “ We’re, Zack Mabel, we’ve, , it’s, Richard Sander, Jill Orcutt, Johns Hopkins, they’ll Organizations: Stanford, Penn, Here’s, Colleges, Progressive Policy Institute, White Asian, American Association of Collegiate, University of California Locations: America, Here’s, Alaska, Georgetown, U.C . Merced
The future of the US economy is in the South
  + stars: | 2024-02-28 | by ( Jacob Zinkula | ) www.businessinsider.com   time to read: +4 min
If you're searching for the future of the American economy , look South. Population growth is among the key drivers of economic growth , and Americans are clustering in the South. The South had the highest job openings rate and the lowest unemployment rate of any region, per BofA. Houston's energy economy , Miami's proximity to Latin America and growing financial industry , Dallas's blossoming environment of diversified business behemoths, and Nashville's status as a healthcare and tech hub could position each of these Southern cities to thrive in the future. To varying degrees, some Southern cities are already seeing how high housing costs can plague an area with surging demand .
Persons: weren't, who've, Niall Ferguson, Barron's, Houston — Organizations: Service, Bank of America, Business, Texans, Dallas Fed, Houston Locations: Northeast, Midwest, West, Southern, United States, Carolina, Georgia, Florida, South Carolina, Texas, New York, San Francisco, Houston, Dallas, Nashville, Miami, Stanford, America, San Francisco , New York, Los Angeles
The other bill, from Sen. Bill Cassidy and Sen. Tammy Baldwin, would ban de minimis shipments from China. The provision is more likely to change — a prospect that both Shein and Temu have said they support. Jennifer Ortakales Dawkins/InsiderShipping consultancy ShipMatrix estimates that Shein and Temu each ship more than a million packages to the US daily. It added that almost 50% of all de minimis shipments to the US come from China. Related stories"Changes to the exemption could create a paradigm shift for retailers like Temu and Shein," Bank of America analysts wrote in the note.
Persons: minimis, Earl Blumenauer, Russia —, Bill Cassidy, Sen, Tammy Baldwin, Cassidy, Baldwin, Jay Sole, It's, Jennifer Ortakales Dawkins, Shein's, Temu, Shein, Donald Tang, SHEIN, de minimis, they've, Steve Story, Sole, Satish Jindel, ShipMatrix, Jindel Organizations: Business, Customs, Rep, Bank of America, US Chamber of Commerce, Express, UBS, Pinduoduo Holdings, Goods, Shipping, Chinese Communist Party, China . Shipping, Wired, Shein, American Apparel and Footwear Association, Apex Logistics International, Walmart Locations: Xinjiang, China, Russia, Sen, Singapore, Boston, minimis, United States, mstone@insider.com
Call of the Day: Barron's makes bullish call on PepsiCo
  + stars: | 2023-12-04 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCall of the Day: Barron's makes bullish call on PepsiCoThe "Halftime Report" traders debate the biggest analyst calls of the day.
Organizations: PepsiCo
Alanna Barron captured the moment her mom tried to fend off a refrigerator purge over Thanksgiving. There was an 8-year-old bottle of sesame oil that Barron's mom argued was fine. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . All in all, Barron told BI nearly two dozen items were trashed.
Persons: Alanna Barron, , Tyler, they're, Barron, we've Organizations: Service Locations: Los Angeles
Ross Gerber said he plans to ditch his Model Y for a Rivian over Elon Musk's agreement with an antisemitic post on X. "Getting a flood of messages from clients wanting out of tesla and anything to do with Elon Musk," he wrote on X. Gerber, Musk, and a spokesperson for Tesla did not immediately respond to a request for comment. Gerber's comments came after Barron's reported that Musk's name had been dropped from the APEC CEO Summit speaker list on Thursday. "Elon Musk had a schedule change that prevented him from joining the APEC CEO Summit 2023," a spokesperson told Barrons.
Persons: Ross Gerber, Musk, , Elon Musk, Gerber, Tesla, Gerber's, Barron's, Barrons, Elon Organizations: Elon, Service, Rivian, Gerber Kawasaki Wealth, Investment Management, APEC, Business, The New York Times, Dealbook Locations: LA
Houston, Dallas, Miami, and Nashville are poised to become economic powerhouses in the US. The future of the energy, healthcare, and finance industries could be in these cities. That's because economic power is flowing to the middle of the country — and places like Houston, Dallas, Nashville, and Miami are becoming hotspots. Just like New York City has Wall Street and San Francisco has Silicon Valley, Houston has its energy economy and Miami has its proximity to Latin America and growing financial industry. Miami, meanwhile, was the city users were most interested in relocating to — Dallas and Houston ranked eighth and tenth, respectively.
Persons: , Mason, Dixon, Stanford, Niall Ferguson, Barron's Organizations: Houston, Service, San, Hollywood, Dallas Locations: Dallas, Miami, Nashville, New York, San Francisco, Houston, New York City, Silicon Valley, America, Los Angeles, Washington, DC, Franciso , New York City, . Miami
Auction house RM Sotheby's did not disclose the collection's mystery owner. AdvertisementAdvertisementA rare collection of 56 white Porsches is heading to the auction block. Named "The White Collection," the car collector's unusual trove was announced by auction house RM Sotheby's on Tuesday. RM Sotheby's is delighted to announce The White Collection: a collection of nearly 60 rare Porsche sports cars, entirely in white. https://t.co/Mmt5dL5Jep pic.twitter.com/Yh9UxWdiec — RM Sotheby's (@rmsothebys) October 2, 2023The collection "represents over a decade of dedicated collecting by one perfection-focused owner," RM Sotheby's said.
Persons: , Mmt5dL5Jep, Sotheby's, Barron's, Ferrari, Andreas Birner Organizations: Service, Porsche, Prix, Carrera, Sotheby's, Benz, Guinness, World Records Locations: Houston , Texas
The Fed shouldn't get credit for tackling the inflation threat, Jeremy Siegel says. The "Wizard of Wharton" blames the Fed for the US money supply soaring and prices surging. The Fed has caused a "permanent loss of purchasing power" for workers and savers, Siegel says. He also underscored the unnecessary pain that the Fed caused by not only buying bonds to stimulate the economy, but also funding the government's spending spree. AdvertisementAdvertisement"Powell and his Fed deserve little praise for fixing a problem they caused," Siegel said in his WisdomTree column.
Persons: Jeremy Siegel, Wharton, Siegel, , Jerome Powell, that's, Powell Organizations: Fed, Service, Reserve, American Locations: Russia, Ukraine
Insider Today: Apple's new iPhone is here
  + stars: | 2023-09-13 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +9 min
This post originally appeared in the Insider Today newsletter. But the show's real stars were the new versions of Apple's iPhone and Apple Watch. But if you were hoping a new iPhone will send Apple's stock soaring, think again. Prior to Tuesday's event, Apple's shares fell an average of 0.2% on days a new iPhone was announced, according to Barron's. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.
Persons: Bond, Elon Musk's, Justin Sullivan, Octavia Spencer, Tim Cook, Max, Insider's Sarah Jackson, Jordan Hart, Lakshmi, iPhones, Gary Coronado, Jamie Dimon, — Warren Buffett —, Bill Gross, DoubleLine's Jeffrey Gundlach, Pimco, DoubleLine's, Gross, Anna Moneymaker, Thomas Trutschel, isn't, Sundar Pichai, Elon, Walter Isaacson, Read, Kent Walker, Chelsea Jia Feng, Patreon, Naomi Osaka, Shaquille O'Neal, Allegra, Dayquil, Jennifer Aniston, Reese Witherspoon, Yelp, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Jets, Apple, Apple Watch, Getty, Bloomberg, JPMorgan, Wall, Google, Software, Amazon, FDA, North American, Detroit Auto, GMC, Bourbon Locations: Wall, Silicon, Milwaukee, Lakshmi Varanasi, ., China, that's, Latvia, Estonia, Chelsea, Colorado, Arizona, Morocco, New York City, San Diego, London, New York
VinFast stock plunged 44% Tuesday, reducing its market value by $83 billion. The EV maker's shares are thinly traded and it expects to sell just 50,000 cars this year. Shares in the little-known, Vietnamese company closed 44% lower, but it's still worth about $107 billion – more than double the market cap of Ford. Founder Pham Nhat Vuong still controls 99% of the stock, having issued just 1% of its 2.32 billion shares to the public. Vuong also suffered a massive hit to his paper wealth Tuesday, with VinFast's losses eroding the value of his stake from $141 billion to $74 billion, according to Barron's.
Persons: VinFast, Ford, Pham Nhat Vuong, Vuong Organizations: EV maker's, Service Locations: Wall, Silicon
Elon Musk has loaded up on Nvidia GPUs for X, xAI, and Tesla. Meanwhile, Chinese tech titans are reportedly scrambling to buy $5 billion worth of the chips. But there are signs emerging that there may not be enough of Nvidia's chips to go around, with multiple top executives warning that demand is massively outpacing supply. Soaring demandThe massive increase in interest in artificial intelligence has been a key factor driving demand for Nvidia's semiconductors. Perhaps the strongest sign that demand for Nvidia's chips is soaring came in May, when it released stellar second-quarter revenue forecasts that smashed Wall Street's expectations by 50%.
Persons: Elon Musk, Biden, Tesla, Adam Selipsky, Matthew Prince, there's, Barron's Organizations: Nvidia, titans, Service, Soaring, New, Research, Financial Times, Elon, Twitter, Web Locations: Wall, Silicon
International travel demand is outpacing domestic demand as Americans flock to Europe in 2023. Our international wanderlust may be a worrying trend for domestic airlines — but it makes now the perfect time to buy flights for fall and winter vacations within the US. Low-cost carriers Spirit Airlines , Frontier Airlines , and JetBlue Airways had similar outlooks. Redburn analyst James Goodall said Monday that domestic airlines are likely to feel this pressure for not just months, but years, Barron's reported . Frontier AirlinesAs domestic airlines take a hit, consumers could reap the benefits with cheap fares and fall promotions designed to stimulate demand.
Persons: you've, Hopper, Sonia Bhagwan, they've, Barry Biffle, James Goodall, Barron's, Goodall, — Hopper, Bhagwan, she's, airfare Organizations: Carriers, JetBlue, Bank of America, American Airlines, Delta Air Lines, United Airlines, , Atlantic, Southwest Airlines, Spirit Airlines, Frontier Airlines, JetBlue Airways, CNBC, Airlines, Southwest, Bloomberg, nab Locations: Europe, Greece, heatwaves, Spain, Italy, Asia, COVID, United, Delta, Texas, Mexico, Caribbean, Paris
Lately, it seems that retail traders have been focused on Tupperware. The share price of the iconic food container brand has seen a meteoric rise over the past two weeks. That's up nearly 480% from when its stock price hit a 52-week low of $0.61 per share on July 20. Tupperware's rapid rise is being fueled by retail traders who are buying up the stock and driving the price higher, according to Barron's. Other well-known companies have experienced similar boosts in the past, thanks to retail traders too.
Persons: Tupperware Organizations: GameStop, AMC Entertainment
Modelo passed Bud Light, which has been the subject of a boycott by conservatives. It recently took the crown from Bud Light, which saw its market share drop to 7%. "Modelo and Michelob Ultra (another Anheuser-Busch brand) both were on track to eventually overtake Bud Light," Maloney wrote, citing long-term market share data. "Everybody kinda figured Bud Light was getting hit by that boycott, so it fell out of No. But Neil Reid, a professor at the University of Toledo who studies the beer industry, told Reuters that the Bud Light boycott is lingering longer than expected.
Persons: Bud Light, El Rey, Bump Williams, influencer Dylan Mulvaney, Jennifer Maloney, Bud Light's, Maloney, Jack Hough, Light, Hough, Corona, Neil Reid Organizations: Modelo, Service, Anheuser, Street Journal, Busch, Fox, Northwestern University, University of Toledo, Reuters, Bud Light Locations: Wall, Silicon, El, Modelo
Dow Jones laid off 10 people on the business side in late June. Wall Street Journal insiders are prepping for a content overhaul and potential cuts later this summer. A steady drip of layoffs continues at Dow Jones, which laid off another 10 people in the last week of June. The roles were mostly finance, sales, and marketing people who work across Dow Jones properties, which include The Wall Street Journal, Barron's, and MarketWatch. The Journal newsroom has largely been spared, but EIC Emma Tucker is conducting a sweeping content review.
Persons: Dow Jones, Almar Latour, Emma Tucker, Tucker, Rupert Murdoch's, she's, Liz Harris, Taneth Evans —, Charles Forelle, Karen Pensiero, Neal Lipschutz, Jason Anders, Thorold Barker, Kristina O'Neill, Sarah Ball, She's, Bernard Arnault, There's Organizations: Wall Street Journal, Dow, Street, MarketWatch, News Corp, Sunday Times, . Magazine Locations: Dow Jones, London, Europe, Middle East, Africa
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