Company News for Apr 18, 2024

Associated Press Finance
Berkshire's profit plunges 64% on portfolio holdings as Buffett sells Apple
Berkshire Hathaway's first quarter profits plummeted along with the paper value of its investments, but the company said Saturday that most of the businesses it owns outright performed well. The figures were heavily influenced by a large drop in the paper value of Berkshire’s investments. Buffett encourages investors to pay more attention to the conglomerate’s operating earnings that exclude the investment figures.
Yahoo Finance AU
Former RBA governor's bleak interest rate rise prediction
Philip Lowe warned the fight against inflation 'isn't done' yet.
Reuters
Westpac raises share buyback by $661 million even as costs and competition bite
(Reuters) -Australian bank Westpac raised its share repurchase programme by A$1 billion ($661 million) and declared a special dividend on Monday citing a strong balance sheet, even as its first-half profit fell 16% on tight competition and high costs. Traditionally beneficiaries of rising interest rates, the country's so-called Big Four lenders have spent the past year sacrificing margins to write new home loans and paying more to depositors, narrowing their closely watched "net interest margin". Westpac's net interest margin slipped to 1.89%, down 7 basis points from a year earlier, while net interest income remained largely flat at A$9.13 billion.
NCA NewsWire
Major bank’s grim warning for homeowners
The CEO of one of Australia’s biggest banks has delivered a fresh rates warning to homeowners.
Simply Wall St.
National Australia Bank (ASX:NAB) Is Due To Pay A Dividend Of A$0.84
National Australia Bank Limited ( ASX:NAB ) has announced that it will pay a dividend of A$0.84 per share on the 3rd of...
GOBankingRates
8 Purchases Boomers Should Never Make During Retirement
Once they retire, many seniors change their spending patterns quite a bit. There's nothing inherently wrong with this, as long as they remain within their retirement budget. See: The 4 Types of Bank...
GOBankingRates
Jeff Bezos’ Siblings Turned $10K Into $1B: 3 Secrets to Successful Wealth Creation
Sometimes having a sibling with a brilliant business mind can pay off very well. Sometimes those gains come with significant risk. Check Out: 10 Valuable Stocks That Could Be the Next Apple or Amazon...
Reuters
Berkshire shareholders reject climate, diversity, China proposals
Berkshire Hathaway Inc shareholders on Saturday overwhelmingly rejected six proposals addressing environmental and social policy issues at Warren Buffett's conglomerate, all of which the billionaire investor and his board opposed. By margins of more than 4-to-1, shareholders at Berkshire's annual meeting voted against two proposals that the company's insurance and energy operations disclose more about their efforts to address climate change including greenhouse gas emissions. They also turned down a proposal for more disclosure about efforts to promote diversity, equity and inclusion in the workplace.
Fortune
Warren Buffett warns on AI, teases succession, and hints at possible investment during Berkshire Hathaway’s annual meeting
“I trust my children and my wife totally, but that doesn’t mean I ask them what stocks to buy,” Buffett said.
Reuters
Buffett says Berkshire in good hands, lauds Apple despite lowering stake
OMAHA, Nebraska (Reuters) -Warren Buffett assured Berkshire Hathaway shareholders on Saturday that the executives expected to succeed him were ready for the job, and he heaped praise on Apple although Berkshire trimmed its position in the iPhone maker. Speaking at Berkshire’s annual meeting, the legendary investor paid tribute to his late business partner Charlie Munger and said he expected the conglomerate’s cash pile, now a record $189 billion, to keep growing. The meeting was the 60th for Buffett, who since 1965 transformed Berkshire from a failing textile company into an $862 billion colossus owning the BNSF railroad, Geico car insurance, Dairy Queen and dozens of other businesses.
Yahoo Finance AU
$3 billion in HECS-HELP debt to be wiped for millions of Aussies - here's how much you'll save
The government has announced massive changes to the way student loan debt is indexed.
GOBankingRates
I Manage Money For Millionaires: 3 Things Wealthy Americans Never Spend Their Money On — and Two Things They Shouldn’t
James Baldwin famously said, "Anyone who has ever struggled with poverty knows how extremely expensive it is to be poor." In January 2014, long after the Great Recession but before the pandemic,...
Simply Wall St.
Is Nexus AG (ETR:NXU) Potentially Undervalued?
Nexus AG ( ETR:NXU ), might not be a large cap stock, but it received a lot of attention from a substantial price...
Bloomberg
Yellen Counsels Caution on Currency Intervention After Yen Surge
(Bloomberg) -- US Treasury Secretary Janet Yellen acknowledged sharp moves in the value of the yen this week, even as she declined to say whether Japan had intervened to support the currency.Most Read from BloombergTruce Talks Shift to Qatar as Hamas Hits Israel Border CrossingFrance’s Macron Calls for Reset of Economic Ties With ChinaBuffett Praises Apple After Trimming It, Drops Paramount StakeTreasury Rally Risks Running Into a $125 Billion Brick Wall‘Civil War’ Is a Gift to Trump’s Opponents
Simply Wall St.
Is BlueScope Steel Limited (ASX:BSL) Trading At A 38% Discount?
Key Insights Using the 2 Stage Free Cash Flow to Equity, BlueScope Steel fair value estimate is AU$36.31 BlueScope...
Bloomberg
Worsening Weather Is Igniting a $25 Billion Market
(Bloomberg) -- Marty Malinow's mom never could get her head around what her son did for a living. To friends, she said he was “a stockbroker that does something with the weather.” Malinow couldn’t really object — he knew most people had no clue about financial contracts based on things like sunshine, rainfall and wind.Most Read from BloombergTruce Talks Shift to Qatar as Hamas Hits Israel Border CrossingFrance’s Macron Calls for Reset of Economic Ties With ChinaBuffett Praises Apple After Trimmi
Bloomberg
A Post-Buffett Berkshire Is Omaha Focus After Munger’s Passing
(Bloomberg) -- Berkshire Hathaway Inc.’s annual meeting on Saturday gave shareholders a glimpse of how the conglomerate will operate without Charlie Munger, who died last year at 99. Then came the questions: How will it operate without Warren Buffett?Most Read from BloombergTruce Talks Shift to Qatar as Hamas Hits Israel Border CrossingFrance’s Macron Calls for Reset of Economic Ties With ChinaBuffett Praises Apple After Trimming It, Drops Paramount StakeTreasury Rally Risks Running Into a $125
GOBankingRates
Apple Stock Secrets: How To Make $500 a Month With Dividends
Despite recent fluctuations in its stock price, Apple has been and remains to be a beacon of stability and growth for many investors.
GOBankingRates
Here Are 5 Things You Should Only Pay For in Cash
Banks issue rewards credit cards for all kinds of spending categories, from flights, hotels, rental cars and entertainment to groceries, dining, warehouse clubs and e-commerce. With all of the various...
Reuters
QUOTES-Buffett talks succession and Berkshire's future at annual meeting
Warren Buffett took the stage at Berkshire Hathaway's annual meeting on Saturday, paying tribute to his longtime business partner Charlie Munger, outlining the expanded roles of the executives who are designated to eventually succeed him and discussing Berkshire's opportunities. Greg Abel, 61, designated Buffett's successor as chief executive in 2021, sat on stage with Buffett.

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Company News for Apr 18, 2024

Latest stories

Berkshire's profit plunges 64% on portfolio holdings as Buffett sells Apple

Former RBA governor's bleak interest rate rise prediction

Westpac raises share buyback by $661 million even as costs and competition bite

Major bank’s grim warning for homeowners

National Australia Bank (ASX:NAB) Is Due To Pay A Dividend Of A$0.84

8 Purchases Boomers Should Never Make During Retirement

Jeff Bezos’ Siblings Turned $10K Into $1B: 3 Secrets to Successful Wealth Creation

Berkshire shareholders reject climate, diversity, China proposals

Warren Buffett warns on AI, teases succession, and hints at possible investment during Berkshire Hathaway’s annual meeting

Buffett says Berkshire in good hands, lauds Apple despite lowering stake

$3 billion in HECS-HELP debt to be wiped for millions of Aussies - here's how much you'll save

I Manage Money For Millionaires: 3 Things Wealthy Americans Never Spend Their Money On — and Two Things They Shouldn’t

Is Nexus AG (ETR:NXU) Potentially Undervalued?

Yellen Counsels Caution on Currency Intervention After Yen Surge

Is BlueScope Steel Limited (ASX:BSL) Trading At A 38% Discount?

Worsening Weather Is Igniting a $25 Billion Market

A Post-Buffett Berkshire Is Omaha Focus After Munger’s Passing

Apple Stock Secrets: How To Make $500 a Month With Dividends

Here Are 5 Things You Should Only Pay For in Cash

QUOTES-Buffett talks succession and Berkshire's future at annual meeting