StanChart has agreed to pay $327 million to resolve allegations that it violated U.S. sanctions against Iran, Sudan and two other countries, capping months of legal headaches for the British bank.» Read More
Barclays has agreed to pay $298 million over criminal allegations that it illegally engaged in financial transactions with banks in Cuba, Iran, Libya, Sudan and Burma, the Justice Department disclosed in court papers filed Monday.
The EU banned all airlines from the Philippines and Sudan from flying into the region’s airports Tuesday, citing “serious safety deficiencies” found by the UN and U.S. aviation authorities, the New York Times reports.
While the Save Darfur Coalition mildly "applauded" Berkshire Hathaway's PetroChina sales, even if they weren't driven by human-rights concerns, another group that's been urging Warren Buffett to divest is more direct in its criticism.
A group that's been urging Warren Buffett to divest Berkshire Hathaway's PetroChina holdings is "applauding" today, even if it might not like Buffett's stated reason for selling the entire stake.
The Wall Street Journal's widely followed Heard on the Street column today focuses on Warren Buffett's big PetroChina sales in recent weeks, even as the stock has rallied to new highs. It neatly recaps the question we've been asking here at WBW: Is Buffett selling because he thinks PetroChina has become overvalued after an enormous run-up or is he selling in response to human-rights activists who see divestment as a way to pressure China over its ties to Sudan, which is accused of supporting mass killings in Darfur?
Warren Buffett may be making big cuts in his PetroChina holdings, but another very well-known international investor is sticking with the big Chinese energy company. Mark Mobius says just because Buffett is selling, don't assume the stock is going lower. Indeed, Buffett may have something very different in mind.
The PetroChina selling continues and continues to accelerate at Warren Buffett's Berkshire Hathaway. In a filing with the SEC made public just moments ago, Berkshire reveals that as of September 30 its controversial stake in the Chinese energy company had dropped to just 3.1%. That follows a flurry of selling in September that brought the holdings from from just under 10% when the month started.
Another filing reveals that Warren Buffett's sales from his controversial PetroChina stake are accelerating. Is he going to get rid of all his holdings amid pressure from human rights activists?
Warren Buffett's Berkshire Hathaway holding company has cuts its controversial stake in PetroChina to just under 8%. His motives for selling remain a matter of speculation between making money and making a statement.
Warren Buffett's Berkshire Hathaway has once again trimmed its stake in PetroChina. The sale of 28 million shares for roughly $40 million reduces his stake to 8.93 percent from just over 11 percent earlier this year. The selling comes amid calls by human-rights activists for Buffett to divest from PetroChina due to the government-controlled company's ties with Sudan. Buffett, however, has said he couldn't influence the Chinese if he wanted to and most analysts think he's locking in profits.
We don't know for sure why Warren Buffett's Berkshire Hathaway has been reducing its stake in PetroChina, but he's been selling more shares than you might have thought. One group that's been urging Buffett to divest as a protest against China's "funding of the genocide in Darfur" thinks there's a message in the "steady series" of sales.
Warren Buffett's Berkshire Hathaway has sold some more of its stake in PetroChina. The question is: Is Buffett selling for the profits or to make a statement against China's human-rights record in Darfur?
Just one day after a Wall Street Journal report that Warren Buffett is buying shares of Kraft Foods, we get word today that he's sold a small slice of his stake in PetroChina, the big Chinese oil company. The AP reports there's "no indication whether he was responding to demands by activists to cut his ties to the company due to its investments in Sudan." But the very small size of the sale, about 17 million shares worth just $27 million, would appear to make it a slight adjustment rather than any kind of message.
The Save Darfur Coalition has turned its attention to Berkshire Hathaway and Fidelity Investments in the struggle to end the strife in Sudan -- whose government was accused of committing genocide by the Bush Adminstration and the European Parliament. The coalition's executive director, David Rubenstein, joined "Power Lunch" to tell why investment companies may accomplish more than politicians in the pursuit of justice.