Warren Buffett’s Berkshire Hathaway has significantly increased its holdings in Occidental Petroleum over the past nine trading sessions, according to regulatory filings. The Omaha-based conglomerate has acquired an additional 7.3 million shares, with purchase prices hovering around $60 per share, during this period. These transactions, completed between June 5 and a recent Monday, have elevated… Continue reading Warren Buffett buys Occidental shares for 9 straight days, pushes his stake to nearly 29%

The global agricultural sector, specifically the cocoa market, is experiencing significant pricing pressure. Over the past year, cocoa prices have more than tripled, causing major challenges for candy makers and food companies reliant on chocolate production. Previously, cocoa prices hovered around $2,500 per metric ton, but concerns over a weaker-than-expected crop have driven prices to… Continue reading Cocoa prices are soaring. Candy makers will need to get creative

Berkshire Hathaway, guided by the investment acumen of the late Charlie Munger, has continued to reduce its substantial investment in BYD, China’s leading electric vehicle (EV) manufacturer. In a recent transaction, Warren Buffett’s conglomerate sold an additional 1.3 million Hong Kong-listed shares of BYD for $39.8 million, as disclosed in a filing to the Hong… Continue reading Warren Buffett’s Berkshire Hathaway trims its stake in Chinese EV maker BYD to 6.9%

GameStop’s annual shareholder meeting faced significant disruption due to server crashes caused by overwhelming interest in the event, as reported by a customer service representative from Computer Share, the company hosting the stream. The meeting, scheduled to start at 11 a.m. ET, experienced widespread accessibility issues, with many attendees receiving error messages indicating the page… Continue reading Servers for GameStop annual shareholder meeting crash due to overwhelming interest

Tyson Foods announced on Thursday the suspension of its Chief Financial Officer, John R. Tyson, following his arrest for driving while intoxicated in Arkansas. The company has appointed Curt Calaway as interim CFO. Tyson, 34, was taken into custody at 1:32 a.m. and released nine hours later from Washington County Detention Center. Tyson Foods, headquartered… Continue reading Tyson Foods suspends CFO after second arrest

In May, the Consumer Price Index (CPI) showed no increase, indicating a slight easing of inflationary pressures on the U.S. economy, as reported by the Labor Department. The CPI, which measures the cost of a basket of goods and services, remained flat for the month, though it rose by 3.3% year-over-year. This was slightly below… Continue reading Inflation slows in May, with consumer prices up 3.3% from a year ago

Keith Gill, known online as Roaring Kitty, is facing a significant decision regarding his large options position in GameStop shares as the expiration date approaches. Gill, a prominent figure in the meme stock movement, holds 5 million GameStop shares and 120,000 call options, which equate to 12 million underlying shares. These call options have a… Continue reading Keith Gill has some tough choices to make on his GameStop options with Wall Street ready to pounce

Wednesday is poised to be a crucial day for economic news, with significant updates expected on inflation and Federal Reserve actions. The day starts with the release of the May consumer price index (CPI) and concludes with the Federal Reserve’s policy meeting, providing key signals about the economic outlook and potential policy adjustments. The May… Continue reading Fed meeting and inflation report both hit Wednesday, and the impact could be huge

On Tuesday morning, a jury in Delaware federal court convicted Hunter Biden, the son of President Joe Biden, on all three counts at his criminal gun trial. Hunter Biden, 54, was found guilty of making a false statement in connection with the sale of a firearm, a false statement in a firearms transaction, and possessing… Continue reading Hunter Biden guilty in criminal gun trial

The stock prices of major Japanese automakers experienced significant declines following revelations from the country’s Transport Ministry regarding the use of false data in certifying certain models. Toyota, Japan’s largest carmaker, saw a substantial 5.4% decrease in its stock last week, resulting in a loss of 2.45 trillion Japanese yen ($15.62 billion) in market value.… Continue reading Toyota lost over $15 billion in market value last week after being caught falsifying tests

Elliott Management, an activist hedge fund, has acquired a substantial $1.9 billion stake in Southwest Airlines and is pushing for significant leadership changes. The hedge fund is advocating for the replacement of CEO Bob Jordan and Chair Gary Kelly with external candidates. Elliott argues that Southwest, once considered a top-tier airline, has now become one… Continue reading Elliott takes $1.9 billion stake in Southwest Airlines, seeks to oust CEO and chair

SpaceX successfully completed a milestone test flight of its Starship rocket, marking significant progress in its development of the reusable vehicle. The test, which took place on Thursday from SpaceX’s Starbase facility in Boca Chica, Texas, saw the Starship rocket achieve several key objectives. The booster, an essential component of the rocket, was successfully returned… Continue reading SpaceX’s Starship rocket completes test flight for the first time, successfully splashes down