Warren Buffett Gets Clearance to Buy Up to Half of Occidental Petroleum, Boosting Stocks

Warren Buffett Gets Clearance to Buy Up to Half of Occidental Petroleum, Boosting Stocks

Warren Buffett at a press conference during the Berkshire Hathaway Shareholders’ Meeting, April 30, 2022. CNBC Warren Buffett’s Berkshire Hathaway received approval Friday to buy up to 50% of oil giant Occidental Petroleum. Shares of Occidental rose 10% on the news to above $70 apiece, pushing their profits to more than 140% in 2022. On … Read more

Meme stocks reverse as Bed Bath & Beyond slump scares investors

Meme stocks reverse as Bed Bath & Beyond slump scares investors

Aug 19 (Reuters) – Retail favorites GameStop and AMC Entertainment fell on Friday, reversing many of their recent gains after billionaire Ryan Cohen abruptly dumped his stake in struggling retailer Bed Bath & Beyond just days after he left a bullish options position in took the share. Shares of Bed Bath & Beyond Inc (BBBY.O) … Read more

Bugatti unveils its latest petrol-only car that it hopes will become the world’s fastest convertible

Bugatti unveils its latest petrol-only car that it hopes will become the world’s fastest convertible

Carmel, California CNN Business — Bugatti has revealed what the French automaker hopes will be the fastest convertible in the world. The 1,600-horsepower, $5 million W16 Mistral is essentially an open-top version of the Bugatti Chiron supercar, though there are major design differences. It is also Bugatti’s last petrol-only car. Future models will be hybrid. … Read more

Starbucks ordered to reinstate US workers laid off amid union campaign | Starbucks

Starbucks ordered to reinstate US workers laid off amid union campaign |  Starbucks

A US judge has ordered Starbucks to reinstate seven workers at a cafe in Memphis, Tennessee, who have reportedly been fired for supporting a union campaign, as the coffee chain struggles to halt the nationwide union election. Sheryl Lipman, the city’s district judge, said the US National Labor Relations Board had provided sufficient evidence that … Read more

Walmart Expands Employee Abortion Coverage After Roe v Wade

Walmart Expands Employee Abortion Coverage After Roe v Wade

Customers outside a Walmart store in Torrance, California, U.S., on Sunday, May 15, 2022. Walmart Inc. is expected to release earnings figures on May 17. Bing Guan | Bloomberg | Getty Images Walmart told employees Friday it will expand coverage of abortion and related travel, according to an internal memo. The change comes about two … Read more

Is inflation peaking? 10 Common Consumer Items Where Prices Are Falling

Is inflation peaking?  10 Common Consumer Items Where Prices Are Falling

A customer buys eggs at a Kroger supermarket on August 15, 2022 in Houston, Texas. Brandon Bell | Getty Images July’s consumer price index report finally showed a sign of possible relief: Inflation rose less than expected from a year ago, and was level with the month, meaning a basket of items and services generally … Read more

Wayfair layoffs will reduce 5% of its global workforce

Wayfair layoffs will reduce 5% of its global workforce

The company said in a regulatory filing that the cuts will help it “manage operating costs and realign investment priorities.” Shares fell about 14% in Friday’s early trading. CEO Niraj Shah wrote in a letter to workers that the layoffs were a “difficult decision” due to Covid-19. “We saw the tailwind of the pandemic accelerating … Read more

Dow drops 300 points as options expiration unleash volatility in stocks

Dow drops 300 points as options expiration unleash volatility in stocks

US stocks traded lower Friday as more than $2 trillion in stock-linked options expired as investors digested more aggressive comment from the Federal Reserve. How are stock index futures traded? The Dow Jones Industrial Average DJIA, -0.80% fell 302.06 points, or 0.9%, to 33,695. The S&P 500 SPX, -1.24% fell 57 points, or 1.4%, to … Read more

Cineworld Shares Plunge Over 60% On Bankruptcy Reports

Cineworld Shares Plunge Over 60% On Bankruptcy Reports

Cineworld, which operates 9,000 theaters in 10 countries, has warned that a lack of blockbusters is hurting filming. Geography Photos | Universal Images Group | Getty Images LONDON – Shares of British cinema chain Cineworld Group plunged Friday after reports that it is preparing for bankruptcy after failing to lure viewers back to the cinema … Read more