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Warren Buffett's Berkshire Hathaway built an $8 billion stake in JPMorgan, then virtually eliminated it in 6 months. Here's a look at its unusual bet on the banking giant

Getty Images / Bill Pugliano Warren Buffett's Berkshire Hathaway amassed north of $8 billion of JPMorgan stock, only to sell almost all of it this year.The billionaire investor's conglomerate owned about 60 million of the bank's shares at the end of December 2019, but slashed the holding to fewer than 1 million shares worth less than $100 million last quarter.Berkshire's selling is surprising, given Buffett personally owned the stock in 2012, two Berkshire executives sit on JPMorgan's b...
Tags: Amazon, US, Trends, Bloomberg, Getty Images, Berkshire Hathaway, Warren Buffett, Jeff Bezos, Costco, Wall Street Journal, Jamie Dimon, Berkshire, Financial Times, Wells Fargo, Buffett, Jamie


A Pared-Down Version of Facebook's Libra Project Could Launch as Soon as January

Facebook’s long-anticipated cryptocurrency venture, Libra, could go live as early as January, three people involved with the matter told Financial Times this week. But don’t get too excited just yet: Thanks to a torrent of federal scrutiny and many of its chief investors bailing on the project, its scope has been…Read more...
Tags: Facebook, Science, Paypal, Financial Times, Libra, Cryptocurrency, Novi, Calibra


#SaudiArabia seeks to resolve #Qatar crisis as ‘gift’ to Joe Biden | Financial Times

Saudi Arabia seeks to resolve Qatar crisis as ‘gift’ to Joe Biden | Financial Times Saudi Arabia has stepped up its efforts to resolve its more than three-year dispute with Qatar after US president Donald Trump’s election defeat, according to people briefed on the talks.  The move to end the Gulf states’ blockade of their gas-rich neighbour is being perceived as an attempt by Crown Prince Mohammed bin Salman to curry favour with the incoming Biden administration and deliver a parting prese...
Tags: Travel, Washington, Saudi Arabia, US, Qatar, Joe Biden, Iran, Egypt, Middle East, Al Jazeera, Biden, Abu Dhabi, Tehran, Yemen, Donald Trump, Bahrain


How a 28-year-old sold his first jewelry design for $25,000 and within 3 years built an exclusive client roster including Rihanna

Emmanuel Tarpin. Emmanuel Tarpin At just 28 years old, Emmanuel Tarpin is one of high-end jewelry's rising stars.  Tarpin has amassed an elite list of clients over the last five years, winning the Rising Star prize from Fashion Group International and Designer of the Year at the 2019 Town and Country Jewelry Awards along the way. Today, Tarpin's client roster is so exclusive that he works only by private appointment — he's not sold in stores or online, at least not yet.  Tarpin opened up t...
Tags: Jewelry, Feature, Fashion, New York, Design, Beyonce, Small Business, Rihanna, Jay Z, France, Trends, Watches, Luxury, Paris, Retail, Christie's


Warren Buffett's Berkshire Hathaway isn't alone in struggling to make a big acquisition. Past partner 3G Capital is also coming up short

Chip Somodevilla / Getty Warren Buffett's Berkshire Hathaway isn't alone in struggling to make a major acquisition.3G Capital, a Brazilian-US private-equity firm, has requested more time from its investors to strike a deal, the Financial Times reported on Friday.Berkshire and 3G have partnered several times in the past, most notably to buy Heinz in 2013 and merge it with Kraft in 2015.However, Buffett has acknowledged that Berkshire overpaid for Kraft, and its Kraft Heinz stake has plun...
Tags: Europe, US, Trends, Unilever, Alibaba, Deutsche Bank, Berkshire Hathaway, Warren Buffett, Heinz, Burger King, Kraft, Kraft Foods, Berkshire, Financial Times, Buffett, Tim Hortons


Facebook's digital token Libra to launch as soon as January in an even more slimmed-down version, report says

AP/Facebook/Business Insider Facebook's cryptocurrency Libra could launch as soon as January in an even more slimmed-down version, the Financial Times reported.The exact timing of Libra's launch depends on when it receives regulatory approval.The 27-member Libra Association initially planned for Libra to be backed by a wide mix of several currencies and government debt.But now it will launch a single coin backed one-for-one by the dollar, the FT said. Visit Business Insider's homepage for ...
Tags: Facebook, Europe, US, Trends, Bitcoin, Alibaba, Switzerland, Deutsche Bank, Silicon Valley, Geneva, Financial Times, Libra, Libra Association, Shalini Nagarajan, AP Facebook Business Insider Facebook


Amazon Workers To Stage Coordinated Black Friday Protests in 15 Countries

On Friday, Amazon warehouse workers and social and environmental justice activists around the world will stage a series of coordinated protests, strikes, and actions to demand the online retailer respect workers' rights to participate in union activity, stop circumventing tax laws, and commit to higher environmental standards, according to the event's organizers. From a report: The day of action, which is being called #MakeAmazonPay, coincides with Black Friday, one of Amazon's biggest sales eve...
Tags: Amazon, Australia, Germany, Tech, Philippines, Luxembourg, Bangladesh, Seattle, Financial Times, Northern Virginia, Brazil Mexico, Amazon Ring, Amazon Workers To Stage Coordinated Black, United States the United Kingdom Spain, Justice for Muslims Collective and La ColectiVA


Diego Maradona, Argentine football great, 1960-2020

News, analysis and comment from the Financial Times, the worldʼs leading global business publication
Tags: Diego Maradona, Financial Times


France to levy digital service tax on tech giants: Report

The French government is planning to re-introduce a digital service tax (DST) on big tech companies from this year onward, reported Reuters. Though the policy to impose a 3% tax on revenue from digital services was introduced by the French government last year, tax collections were suspended as the Organization for Economic Cooperation and Development (OECD) had begun negotiating an overhaul of the global tax system. However, in a conversation with journalists on Wednesday, French Finance Minist...
Tags: Travel, Amazon, Facebook, Europe, News, France, India, US, Bloomberg, European Union, Czech Republic, United States, United Kingdom, WTO, OECD, Financial Times


Why Slack might sell: Microsoft is running rampant

News, analysis and comment from the Financial Times, the worldʼs leading global business publication
Tags: Microsoft, Financial Times


Bertelsmann wins battle for Simon & Schuster with $2.2bn deal - Financial Times

Bertelsmann wins battle for Simon & Schuster with $2.2bn deal   Financial Times
Tags: Seo, Bertelsmann, Financial Times, Simon, Simon Schuster


ViacomCBS Sells Publisher for $2.18 Billion to Bertelsmann - Bloomberg

ViacomCBS Sells Publisher for $2.18 Billion to Bertelsmann   Bloomberg Bertelsmann to Buy Simon & Schuster for $2.1 Billion in Cash   Variety Bertelsmann wins battle for Simon & Schuster with $2.2bn deal   Financial Times ViacomCBS To Sell Simon & Schuster To Penguin Random House Parent Bertelsmann For Close To $2.2 Billion In Cash   Deadline Bertelsmann to Buy S&S for $2.2 Billion   Publishers Weekly View Full Coverage on Google News
Tags: Seo, Bertelsmann, Penguin Random House, Financial Times, Simon Schuster, Bertelsmann Bloomberg, Bertelsmann Bloomberg Bertelsmann, Buy Simon Schuster, Cash Variety Bertelsmann


ECB says European banks can restart dividend payments next year if they show resilience, according to a report

Ralph Orlowski/Getty Images Banks in the eurozone can restart dividend payments next year if their balance sheets show resiliency, a senior European Central Bank official told the Financial Times.A long-lasting ban on paying dividends to shareholders may not even be legal if banks have the capacity to deal with economic fallout, the official said.Any decision to resume dividend payments "would all depend on the conservatism of internal models in the banks, on conservatism in provisioning a...
Tags: Europe, UK, France, Finance, Banks, Trends, Markets, European Central Bank, Dividend, BNP Paribas, Ecb, Eurozone, Santander, Financial Times, Morningstar, Mersch


France is pushing ahead with its tax on US Big Tech after a 10-month standoff with Trump, setting the stage for a trade war over makeup and handbags

Emmanuel Macron, President of France speaks in Brussels on 2 October 2020. Getty France has notified US Big Tech companies, including Facebook and Amazon, that it is levying its new 3% digital services tax for this year. France put collecting the money on hold in January, after the tax sparked a tariff war with President Donald Trump's administration. The tax is aimed at large tech companies operating in France. The Trump administration in July threatened to place tariffs on handbags and m...
Tags: Amazon, Facebook, France, White House, US, Trends, Tax, Joe Biden, Brussels, OECD, Donald Trump, Financial Times, Trump, Emmanuel Macron, Google Apple, Organisation for Economic Co


PRESS DIGEST-Financial Times - Nov 25 - Thomson Reuters Foundation

PRESS DIGEST-Financial Times - Nov 25   Thomson Reuters Foundation
Tags: Seo, Financial Times, Thomson Reuters Foundation


The Queen was 'interested' in a blockchain journal she received in the post, according to her private office

Toby Melville - WPA Pool/Getty Images Queen Elizabeth II received a blockchain journal in the post, and was "interested to learn that the publication is the first open access blockchain research journal available both in print and online," according to a letter from her office. In a letter to the British Blockchain Association, which sent the journal, a member of her office said the queen "much appreciated [the] thoughtful gesture," as first reported by the Financial Times. It's unclear w...
Tags: Microsoft, Trends, Linkedin, Markets, Bitcoin, The Queen, Buckingham Palace, Ibm, Financial Times, Cnbc, Cryptocurrency, Blockchain, Liechtenstein, Elizabeth Ii, Queen Elizabeth, Queen Elizabeth Ii


Vaccination will be ‘a necessity’ for international flights, says Qantas chief

News, analysis and comment from the Financial Times, the worldʼs leading global business publication
Tags: Qantas, Financial Times


One reseller group snagged nearly 3,500 PlayStation 5 consoles, and the resale market might be the only place to score one after it sold out everywhere online

After getting to checkout, PlayStation 5 buyers found out the device had already sold out. Walmart The PlayStation 5 launched this week in Europe and the United Kingdom, and customers encountered many of the same issues they faced in the US: The console was sold out near-instantly at most retailers. The only way to get a PlayStation 5 at launch was through a preorder, but some retailers sold PS5 consoles digitally on a first-come, first-served basis. A robust resale market for the coveted...
Tags: Europe, UK, London, Instagram, Microsoft, Ebay, US, Trends, Walmart, United States, United Kingdom, Sony, Financial Times, Gamestop, Business Insider, Tom


Boosting Gulf’s economy leads to building more art districts, not museums | Financial Times

Boosting Gulf’s economy leads to building more art districts, not museums | Financial Times Is the era of the mega-museum in the Arabian Gulf coming to an end? Over the last 15 years, Qatar and the United Arab Emirates have spent vast amounts of money to erect headline-worthy museums such as the National Museum of Qatar and Louvre Abu Dhabi, both designed by French architect Jean Nouvel.  Now, however, there is a growing emphasis in the region on initiatives that encourage creativity and t...
Tags: Travel, Qatar, United Arab Emirates, Dubai, Financial Times, Jeddah, Gulf, Jean Nouvel, Arabian Gulf, Rupert Neil Bumfrey, Louvre Abu Dhabi, National Museum of Qatar, Antonia Carver, Jameel Arts Centre


‘There will be shocks’: Yngve Slyngstad, Norway’s $1tn man | Financial Times

‘There will be shocks’: Yngve Slyngstad, Norway’s $1tn man | Financial Times Norway’s sovereign wealth fund is a fairytale of global finance. In less than 25 years investing the energy riches of the North Sea, it has grown into a $1.2tn giant; it owns 1.5 per cent of the world’s publicly traded companies. Who more stimulating for me to have my first formal lunch with in six months, I think, than the man who for more than a decade presided over this behemoth — and used its heft to hold comp...
Tags: Travel, Norway, North Sea, Marylebone, Rupert Neil Bumfrey, Yngve Slyngstad, | Financial Times, FishWorks


Apple and Facebook trade accusations over data privacy

News, analysis and comment from the Financial Times, the worldʼs leading global business publication
Tags: Apple, Facebook, Financial Times


Secret ingredients behind the breakthrough Covid vaccines

News, analysis and comment from the Financial Times, the worldʼs leading global business publication
Tags: Financial Times


Amazon is reportedly laying off dozens of employees working on its long-awaited drone project

CEO of Amazon, Jeff Bezos. Amazon; Clodagh Kilcoyne/Reuters; Samantha Lee/Business Insider Amazon is reportedly laying off dozens of R&D and manufacturing staff working on its delivery drone service Amazon Prime Air, according to a Financial Times report. The company is turning to two external manufacturers to build components for the drones, with additional deals potentially in the pipeline, a person familiar with Amazon's plans told the paper. Amazon's drone deliveries are still "years a...
Tags: Amazon, Trends, Walmart, Spain, Austria, Amazon Prime Air, Faa, Financial Times, Federal Aviation Administration, Reuters, Airbus Boeing, Federal Aviation Administration FAA, FACC, Clodagh Kilcoyne, Kate Duffy, Amazon Jeff Bezos Amazon


Progressive groups warn Biden that giving White House roles to anyone with Google ties, including its former CEO Eric Schmidt, would 'alienate' the nation

Eric Schmidt , former chairman and CEO at GOOGLE visits Fox Business Network Studios on April 16, 2019 in New York City. John Lamparski/Getty Images More than a dozen progressive organizations published an open letter to President-elect Joe Biden Tuesday, warning him against appointing anybody with "close ties to Google" to his administration. The groups wrote that they "want to ensure that the internet isn't dominated by a handful of corporations and remains free and open." The groups sai...
Tags: Google, White House, New York City, US, Trends, European Union, Cyprus, Joe Biden, Silicon Valley, Department Of Justice, Biden, Eric Schmidt, Financial Times, Trump, SCHMIDT, Big Tech


Amazon’s drone delivery team hit with layoffs amid reorganization

Amazon has confirmed an early Financial Times report outlining layoffs at the retail giant’s Prime Air drone delivery program. “As part of our regular business operations, we are reorganizing one small team within our larger Prime Air organization to allow us to best align with the needs of our customers and the business,” spokesperson Kristen Kish said in a statement offered to TechCrunch. “For affected employees, we are working to find roles in the areas where we are hiring that best match ...
Tags: Amazon, Ecommerce, Layoffs, Hardware, Tech, Amazon Prime Air, Faa, Financial Times, Personnel, Jeff Wilke, Kristen Kish, Amazon drone delivery


News Corp hits at Bertelsmann ‘behemoth of books’ - Financial Times

News Corp hits at Bertelsmann ‘behemoth of books’   Financial Times
Tags: Seo, Bertelsmann, News Corp, Financial Times


The UK is speeding up its plans to ban the sale of combustion-engine vehicles

Prime Minister Boris Johnson announced the ban as part of a "green industrial revolution" plan to combat climate change and create jobs. AARON CHOWN/POOL/AFP via Getty Images The UK will ban the sale of new combustion-engine vehicles in 2030, a decade sooner than it originally planned.  The move comes as part of a "green industrial revolution" plan that Prime Minister Boris Johnson laid out Wednesday. It's part of a wider goal for the country to become carbon-neutral by 2050.  The UK also ...
Tags: Transportation, UK, California, France, Trends, Electric Vehicles, United Kingdom, Paris, Mexico City, Boris Johnson, Johnson, Electric Cars, Financial Times, Society of Motor Manufacturers, Tim Levin, Chown


The UK will ban the sale of combustion-vehicle engines in 2030, a decade sooner than it originally planned

Prime Minister Boris Johnson announced the ban as part of a "green industrial revolution" plan to combat climate change and create jobs. AARON CHOWN/POOL/AFP via Getty Images The UK will ban the sale of new combustion-engine vehicles in 2030, a decade sooner than it originally planned.  The move comes as part of a "green industrial revolution" plan that Prime Minister Boris Johnson laid out Wednesday. It's part of a wider goal for the country to become carbon-neutral by 2050.  The UK also ...
Tags: Transportation, UK, California, France, Trends, Electric Vehicles, United Kingdom, Paris, Mexico City, Boris Johnson, Johnson, Electric Cars, Financial Times, Society of Motor Manufacturers, Tim Levin, Chown


G20 nearing IMF funding boost for poorer nations, says #Saudi minister | Financial Times

G20 nearing IMF funding boost for poorer nations, says Saudi minister | Financial Times The world’s richest countries are edging towards a consensus on unlocking additional IMF funds for poorer nations whose economies have been battered by the coronavirus crisis, according to a leading G20 official.  Mohammed al-Jadaan, the finance minister of Saudi Arabia, which holds the G20 presidency this year, told the Financial Times that he was “optimistic” that the group of nations and the IMF could ...
Tags: Travel, Saudi Arabia, G20, Financial Times, Imf, Rupert Neil Bumfrey, Mohammed al Jadaan


Trump is furious because he thinks Biden will get the credit for coronavirus vaccine developments, report says

President Donald Trump. Getty President Donald Trump is furious that President-elect Joe Biden's administration may take all the credit for the rollout of a coronavirus vaccine, according to The Daily Beast.  The president had hoped to brandish the success of Operation Warp Speed at packed, mask-free rallies during a second term, the outlet reported.  He has fixated on a successful vaccine to secure his legacy, and multiple reports suggest he pinned his reelection hopes on releasing one be...
Tags: Politics, Obama, White House, China, Barack Obama, Trends, Joe Biden, New York Times, Healthcare, News UK, Fda, Pfizer, Biden, Donald Trump, Centers For Disease Control And Prevention, The Daily Beast