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Top related persons:
Berkshire Hathaway - 1 Warren Buffett - 1 Buffett - 1
Top related locs:
Berkshire U.S Japan Omaha
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National Indemnity Company - 1 Mitsubishi - 1 Mitsui - 1 Sumitomo - 1 Berkshire - 1

Search resuls for: "Elliot Smith Ruxandra Iordache"


3 mentions found


☆ Warren Buffett's Berkshire Hathaway ups stakes in five Japanese trading firms
  + stars: | 2023-06-19 | by ( Elliot Smith Ruxandra Iordache | Elliot Smith | Ruxandra Iordache | ) www.cnbc.com   time to read: +1 min
Berkshire Hathaway on Monday said its wholly-owned subsidiary National Indemnity Company has increased its stake in five Japanese trading firms to average more than 8.5%. Berkshire Hathaway said it intends to hold its Japanese investments for the long term, with CEO Warren Buffett pledging the company will only purchase up to 9.9% of any of the five firms. Buffett visited Japan in April to announce that Berkshire Hathaway would boost its investment in the various Japanese trading houses to 7.4%, after identifying the five businesses as comparable entities to his Omaha-based conglomerate. The five firms are the largest of Japan's so-called sogo-shosha, or general trading companies, and focus on diversified long-term investments that prioritize value and cash flow. Berkshire Hathaway owns no other investments in Japan.
Persons: Berkshire Hathaway, Warren Buffett, Buffett Organizations: National Indemnity Company, Mitsubishi, Mitsui, Sumitomo, Berkshire Locations: Berkshire, U.S, Japan, Omaha
☆ Luxury automaker Porsche issues growth outlook after record 2022 earnings
  + stars: | 2023-03-13 | by ( Elliot Smith Ruxandra Iordache | Elliot Smith | Ruxandra Iordache | ) www.cnbc.com   time to read: +1 min
Luxury automaker Porsche AG issued an ambitious long-term outlook of more than 20% of return on sales, after posting record 2022 earnings on Monday on the back of higher deliveries. The company is proposing a dividend of 1.00 euro per ordinary share and 1.01 euros per preferred share. Meschke added, "In the long run, we are aiming for a Group operating return on sales of more than 20 per cent." Porsche represents a substantial portion of revenues for Volkswagen Group, and overtook Volkswagen as Europe's most valuable carmaker during its first week on the German stock market after listing on Sep. 29 last year. Volkswagen still owns 75% minus one ordinary share of Porsche's total share capital.
☆ HSBC buys Silicon Valley Bank UK, protecting deposits
  + stars: | 2023-03-13 | by ( Elliot Smith Ruxandra Iordache | Elliot Smith | Ruxandra Iordache | ) www.cnbc.com   time to read: +1 min
The Silicon Valley Bank (SVB) logo is seen through a rain-covered window. LONDON — HSBC on Monday announced a deal to buy the U.K. subsidiary of the U.S. tech startup lender Silicon Valley Bank, which collapsed on Friday. HSBC confirmed that its U.K. ring-fenced subsidiary, HSBC UK Bank, had agreed to acquire SVB U.K. for £1 ($1.21). The sale, facilitated by the Bank of England in consultation with the U.K. Treasury, will protect the deposits of SVB U.K. clients, the Treasury said in a statement. "The U.K.'s tech sector is genuinely world-leading and of huge importance to the British economy, supporting hundreds of thousands of jobs," he added.
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