President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
Warren Buffett's Berkshire Hathaway will receive Goldman Sachs stock worth nearly $2.15 billion on Tuesday through warrants acquired as part of a deal originally signed during the depths of the 2008 financial crisis.
Buffett received the warrants five years ago when his investment in Goldman was seen as a vote of confidence in the bank, which was reeling from turmoil in the credit market.
Under that deal, Berkshire had the right to buy about 43.5 million Goldman shares—or a roughly 9 percent stake then—at an exercise price of $115 per share, for $5 billion in total.
Goldman announced an amended deal in March that would give Berkshire a much smaller stake but would not require it to commit any capital to exercise the warrants.
Berkshire will convert the warrants into shares equal in value to the difference between the warrants' exercise price and the average closing price for Goldman shares in the 10 trading days up to October 1.
Based on the last 10-day share price average of $164.38, Berkshire would be entitled to about 13.1 million Goldman shares, making it the sixth largest external investor in the bank, according to Thomson Reuters data.
Buffett's investment in 2008 cost Goldman dearly. In addition to the warrants, the bank had to give Berkshire preferred stock that paid dividends of $500 million a year, or about $15 a second. Goldman repurchased those shares from Buffett at a premium in March 2011.