The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
Beijing will lower borrowing costs for companies, but that may not boost the economy as much as some hope.China Economyread more
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with...US Marketsread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Stocks in Asia edged higher Tuesday morning as investors await the release of minutes from the Reserve Bank of Australia's July meeting. The People's Bank of China is also set...Asia Marketsread more
Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
Apple has spent more than $6 billion on original TV shows and movies for its forthcoming Apple TV+ service, according to a Financial Times report on Monday.Technologyread more
The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
"These days, the consumer is addicted to convenience ... If it doesn't have a great digital presence or incredible bargains, take a pass," Jim Cramer says.Mad Money with Jim Cramerread more
Billionaire hedge fund manager Bill Ackman's Pershing Square Capital took a new stake in Warren Buffett's Berkshire Hathaway, according to a new regulatory filing.
Pershing Square bought roughly 3.5 million shares of Class B shares, worth about $685 million at Wednesday's close. This is the first new position for Ackman's fund since it bought Starbucks last year.
Ackman was on track for a record year halfway through 2019. The net asset value of his publicly traded vehicle, Pershing Square Holdings, rose 47.6% through August, according to a regular update to the fund's website. The returns far outperformed the broader market. The S&P 500 was up 13% in the same time frame.
Pershing Square's recent rally is thanks to a handful of stock picks, including Chipotle Mexican Grill, Starbucks and Howard Hughes Corp. Ackman manages the public vehicle's portfolio though investment firm Pershing Square Capital Management.
In early 2018, the fund's assets were down by roughly half from their $20 billion peak in 2015. Pershing Square's net asset value dropped by 4% in 2017, compared to a nearly 20% rally in the S&P 500 that year.
Berkshire's Class B shares have been dropping since May, and are down about 7% this month.
Meanwhile, Berkshire Hathaway has been loading up on shares of Amazon. The Omaha, Nebraska-based holding company announced an 11% increase in its Amazon stake in a regulatory filing Wednesday. Buffett first announced an investment in the e-commerce giant in May.