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A watch and 2 advisories in effect for 9 regions in the area

See the complete list

WEATHER ALERT

A watch and 2 advisories in effect for 9 regions in the area

WARREN BUFFETT


Warren Buffett's company recommits to Bank of America stock while dumping other banks

Investor Warren Buffett recommitted to Bank of America during the first quarter while dumping two other bank stocks as part of a number of moves in Berkshire Hathaway's portfolio.

Engineers frustrated with rails even as others get sick time

Tens of thousands of engineers remain frustrated with the lack of paid sick time and the demands railroads like BNSF are making in negotiations despite the progress that has been made this year with sick time deals for most of the other rail unions.

Buffett shares good news on profits, AI thoughts at meeting

Warren Buffett's company said its first-quarter profits soared along with the paper value of its investment portfolio.

Board member: 92-year-old Buffett won't be replaced soon

A longtime Berkshire Hathaway board member says investors shouldn't expect a change of leadership at the top of the conglomerate anytime soon.

Buffett says people shouldn't worry about Berkshire, banks

Billionaire Warren Buffett assured investors Wednesday that Berkshire Hathaway will be fine when he's no longer around to lead the conglomerate because Vice Chairman Greg Abel will do a great job and the conglomerate's basic model won't change.

Buffett's company owns nearly 24% of Occidental Petroleum

Billionaire Warren Buffett's company bought more than $200 million more Occidental Petroleum stock over the past week to give it control of 23.6% of the oil producer's stock.

Buffett touts benefits of buybacks in his shareholder letter

Billionaire Warren Buffett said critics of stock buybacks are “either an economic illiterate or a silver-tongued demagogue” or both and all investors benefit from them as long as they are made at the right prices.

Buffett's firm buys Apple, slashes chipmaker and bank stakes

Billionaire Warren Buffett's company bought more Apple stock at the end of last year and slashed its recent investment in a computer chip maker and two long-time bank holdings.

Bill Gates joins 26 newcomers on list of 50 biggest donors

As the ranks of America’s super wealthy grow, the roster of major philanthropists is expanding to include not-so-typical megadonors — among them, a professional clarinetist, a Ph.D. in meat science, and a lawyer who regularly argues before the U.S. Supreme Court.

Buffett's firm has now sold 95 million shares of China's BYD

Warren Buffett's company has now sold nearly 95 million of its original 225 million shares of Chinese electric carmaker BYD's stock, but it remains a significant shareholder.

Buffett's firm keeps selling BYD shares despite past praise

Warren Buffett's company continues selling off its BYD shares despite the positive comments he made in the past about the Chinese electric car maker, but Berkshire Hathaway remains a major shareholder.

Bill Gates made 2022's biggest charitable donation

Bill Gates topped The Chronicle of Philanthropy’s annual list of the 10 largest charitable gifts announced by individuals or their foundations in 2022.

Warren Buffett jumps into local politics to fight streetcar

Billionaire investor Warren Buffett broke with his practice of staying out of local politics to urge his hometown of Omaha to abandon its planned streetcar project because he says it's too expensive and not as flexible as buses.

Final goodbye: Recalling influential people who died in 2022

One would have to go back hundreds of years to find a monarch who reigned longer than Queen Elizabeth II.

Buffett donates over $750 million to his family charities

Billionaire investor Warren Buffett donated more than $750 million in Berkshire Hathaway stock to the four foundations run by his family Wednesday.

'Momentous:' US advances largest dam demolition in history

U.S. regulators approved a plan to demolish four dams on a California river and open up hundreds of miles of salmon habitat that would be the largest dam removal and river restoration project in the world when it goes forward.

Buffett's firm cuts stakes U.S. Bank, BYD; adds chip maker

Warren Buffett's company slashed its stake in U.S. Bank's parent company in the third quarter and also sold shares in Chinese electric car maker BYD.

Jeff Bezos says he will give away most of his fortune

Amazon founder Jeff Bezos said in an interview with CNN that he will give away the majority of his wealth during his lifetime.

Buffett's conglomerate closes $11.6B Alleghany insurance buy

Warren Buffett's conglomerate has completed its largest acquisition in years with its $11.6 billion purchase of the Alleghany insurance conglomerate.

Gates Foundation boosts GivingTuesday with $10M donation

The Bill & Melinda Gates Foundation donated $10 million to the organization that grew out of the hashtag #GivingTuesday in part to fund a database of charitable giving and other acts of generosity.

Buffett's successor buys nearly $70M of Berkshire stock

Billionaire Warren Buffett’s successor bought nearly $70 million worth of stock in the conglomerate he is slated to one day lead.

After climate bill passage, WVa natural gas plant unveiled

A Maryland company says it will build a natural gas power plant designed to capture climate-changing carbon in northern West Virginia.

Buffett's company trims its stake in Chinese EV maker BYD

Warren Buffett's company has trimmed its investment in Chinese electric car and battery maker BYD for the first time since it bought 225 million shares in 2008, an investment that has soared in value.

Bids for signed Warren Buffett portrait already top $30,000

Billionaire Warren Buffett is auctioning off a high-tech signed portrait of himself to raise money for one of his favorite charities, and the bidding has already topped $30,000.

Buffett's company likely to add to its stake in Occidental

Warren Buffett’s company now has clearance to boost its current 20% stake in Occidental Petroleum up to 50% of the oil producer.

Gates Foundation adds Gayle, Dhawan as independent trustees

As the Bill & Melinda Gates Foundation works to expand its governance, it announced Thursday that it has added two trustees to its board.

Buffett's firm buys more Apple shares while betting on oil

Warren Buffett’s company bet more on high-tech darling Apple during the second quarter.

Veteran Indian investor Rakesh Jhunjhunwala dies at 62

Veteran stock market investor and Indian billionaire Rakesh Jhunjhunwala, nicknamed India’s own Warren Buffett, died Sunday in Mumbai city, Press Trust of India news agency reported.

Warren Buffett's company has bet $47B on the oil sector

Warren Buffett’s company has now bought up more than $11 billion worth of Occidental Petroleum stock this year to give Berkshire Hathaway control of more than 20% of the oil producer.

Buffett's firm reports $44B loss but its businesses thrive

Warren Buffett's company has reported a $43.76 billion loss in the second quarter as the paper value of Berkshire Hathaway’s investments plummeted and he bought significantly fewer stocks.

Dolly Parton among Carnegie Medal of Philanthropy winners

Country superstar Dolly Parton is among the 2022 Carnegie Medal of Philanthropy recipients.

Watchdog head: Bad actors should face more than big fines

The head of the nation’s financial watchdog is having second thoughts about using fines to deter illegal behavior in the financial industry, saying some companies have gotten so big that the money makes little difference.

DOJ: Buffett company discriminated against Black homebuyers

The Justice Department says a Pennsylvania mortgage company owned by billionaire businessman Warren Buffett's company discriminated against potential Black and Latino homebuyers in Philadelphia, New Jersey and Delaware.

Bill Gates gives $20 billion to stem 'significant suffering'

Bill Gates, concerned about the “significant suffering” caused by global setbacks including the COVID-19 pandemic, announced Wednesday that he will donate $20 billion to his foundation so it can increase its annual spending.

Warren Buffett's final charity lunch draws record $19M bid

An anonymous bidder has shelled out a record $19 million for a private lunch with billionaire Warren Buffet at a steakhouse in New York City.

Buffett's firm reveals new stakes in Paramount, Citigroup

Warren Buffett’s company has revealed all the investment moves it made in the first quarter, when it spent more than $51 billion on stocks.

California moves to embrace cryptocurrency and regulate it

California is the first state to formally begin examining how to broadly adapt to cryptocurrency and related technologies, following a path laid out by President Joe Biden in March.

Buffett invests big chunk of Berkshire Hathaway’s cash

Warren Buffett gave Berkshire Hathaway investors a few details of how he spent more than $50 billion earlier this year and again reassured them that the company he built will endure long after the 91-year-old billionaire is gone.

Thousands likely at Buffett's meeting but not all are happy

Tens of thousands of people are expected to pack an Omaha arena Saturday for Warren Buffett’s Berkshire Hathaway’s annual meeting.

Buffett to auction off one last private lunch for charity

The world’s most expensive lunch will go on sale again this spring when investor Warren Buffett auctions off a private meal to raise money for a California homeless charity one last time.

Charlie Rose reemerges with first interview since firings

Journalist Charlie Rose has reemerged by posting an interview with investor Warren Buffett on his website — Rose's first public work since his career imploded in November 2017 after sexual misconduct charges.

News publisher Lee faces renewed pressure from hedge funds

Newspaper publisher Lee Enterprises is facing renewed pressure from a hedge fund to speed up its transition to digital publishing and consider adding new digital-savvy leaders to its board.

Wall Street falls to first down week in four on rate worries

Wall Street closed its first losing week in the last four with an up-and-down Friday, as investors brace for the Federal Reserve to tighten the brakes on the economy more aggressively to beat down inflation.

Warren Buffett buying spree goes on, HP soars on 11.5% stake

Shares of HP gained nearly 15% after Warren Buffett's company snapped up 11.5% of the company that makes printers and computers over the past week in another uncharacteristic investment for the billionaire in a tech company.

EXPLAINER: How would billionaire income tax work?

The “Billionaire Minimum Income Tax” included in President Joe Biden's proposed budget is part of the administration’s effort to reduce the federal deficit.

Berkshire's $11.6B Alleghany deal expands insurance business

Warren Buffett’s Berkshire Hathaway is buying the insurance company Alleghany in a deal valued at approximately $11.6 billion.

Buffett still wants deals but can't find any attractive ones

Billionaire Warren Buffett says his company has benefited from some “extraordinary luck” in finding acquisitions, but he hasn’t had much of that in recent years as Berkshire Hathaway’s cash pile has grown to nearly $147 billion.

Biden wants to cut into China's electric battery dominance

President Joe Biden highlighted his efforts to counter China’s dominance of the electric battery market as he touted domestic efforts to mine and process lithium and rare metals.

Abortion rights funds brace for impact ahead of court ruling

Funds that raise money to aid women get abortions say they would need more donations this year if the U.S. Supreme Court makes seismic changes to the nationwide right to abortion.

Buffett's firm scores big with stake in Activision Blizzard

Warren Buffett’s company placed a rare bet on a technology company late last year and it has already paid off in a big way.

Gates Foundation expands board following Bill, Melinda split

The Bill and Melinda Gates Foundation announced Wednesday it will add four new members to its board of trustees.

Giving Pledge adds 14 billionaires to philanthropist list

The Giving Pledge announced Tuesday that 14 more billionaires, including the CEOs of DoorDash and Pinterest, had promised in 2021 to donate more than half their fortunes, bringing the total to 231 philanthropists from 28 countries.

Lee Enterprises rejects takeover bid from Alden hedge fund

Newspaper publisher Lee Enterprises has rejected a takeover offer from the Alden Global Capital hedge fund that is one of the largest newspaper owners in the country with a reputation for intense cost cuts and layoffs.

Gates, French Gates offer post-divorce philanthropic plans

Bill Gates and Melinda French Gates say they will still work with the Giving Pledge.

Bezos makes gifts to Obama foundation and NYU medical center

Former President Barack Obama’s foundation says it has received a $100 million donation from Amazon founder Jeff Bezos that it says is the largest individual contribution it has received to date.

Buffett's firm trims drugmaker stakes, buys 2 new stocks

Investor Warren Buffett’s company made two new investments during the third quarter while trimming its holdings in several drugmakers and financial firms.

Profit plummets at Buffett's company on investment gains

Warren Buffett’s company reported a third-quarter profit that was roughly one-third the amount of last year’s profit because of much smaller paper gains on the value of its investments, but most of its businesses were continuing to recover from the effects of the pandemic.

'Stupid' and 'insane': Some billionaires vent over tax plan

Elon Musk isn’t happy.

EXPLAINER: What's a 'wealth tax' and how would it work?

To help pay for his big economic and social agenda, President Joe Biden is looking to go where the big money is and that's billionaires.

Nebraska billionaire, philanthropist Walter Scott dies at 90

Nebraska billionaire Walter Scott has died at the age of 90.

MacKenzie Scott dominates donations to racial equity

Philanthropist MacKenzie Scott has funded organizations that received the most money for racial equity in 27 different states following the police killing of George Floyd.

Lithium fuels hopes for revival on California's largest lake

Demand for electric vehicles has shifted investments into high gear to extract lithium from geothermal wastewater around California's dying Salton Sea.

Lithium fuels hopes for revival on California's largest lake

Demand for electric vehicles has shifted investments into high gear to extract lithium from geothermal wastewater around California's dying Salton Sea.

Buffett's firm ups Kroger stake while trimming drug holdings

Billionaire Warren Buffett’s company has again increased the size of its bet on grocery giant Kroger, while scaling back several of its health care industry investments.

Justice says IRS must give Trump tax returns to Congress

The Justice Department says the Treasury Department must provide the House Ways and Means Committee former President Donald Trump’s tax returns, apparently ending a long legal showdown over the records.

US regulators criticize Buffett's failed $1.3B pipeline deal

Federal regulators say Berkshire Hathaway’s $1.3 billion deal to buy a natural gas pipeline from Dominion Energy that fell apart this week should have never been attempted because a similar deal drew strong opposition in the past.

Gates Foundation sets 2-year, post-divorce power share trial

Bill Gates and Melinda French Gates will continue to work together as co-chairs of their foundation even after their planned divorce.

Warren Buffett says pandemic's impact still hard to predict

Investor Warren Buffett said the economic impact of the pandemic remains hard to predict but most big companies have fared OK throughout it as long as they weren't tied to travel.

Warren Buffett resigns from Gates Foundation

Warren Buffett resigned Wednesday as trustee of the Bill and Melinda Gates Foundation, which says it will announce plans in July to answer questions raised about its leadership structure.

Plan to raze 4 dams on California-Oregon line clears hurdle

A proposal to bring down four hydroelectric dams near the California-Oregon border has cleared a major regulatory hurdle.

Leak of billionaires' tax data draws GOP outcry over privacy

Republicans in Congress are alarmed by the leak of confidential IRS data to ProPublica that has enabled the investigative news organization to reveal that famous billionaires including Warren Buffett, Bill Gates and Mark Zuckerberg paid little in U.S. income tax at times.

ProPublica: Many of the uber-rich pay next to no income tax

The richest 25 Americans pay less in tax — 15.8% of adjusted gross income — than many ordinary workers do, once you include taxes for Social Security and Medicare, the nonprofit investigative journalism organization ProPublica found.

JPMorgan dives back into fixing health care with new venture

JPMorgan Chase will take another crack at fixing health care after a push with two other corporate giants dissolved earlier this year.

Buffett's firm sells off financials, halves Chevron stake

Investor Warren Buffett’s company pared back its investments in financial firms further during the first quarter.

Bill and Melinda Gates divorce could shake up philanthropy

As much as billionaire couple Bill and Melinda Gates want to keep their pending divorce private, the split is already sending shockwaves through the worlds of philanthropy and public health.

When Buffett is gone, Abel will take over as Berkshire CEO

Vice Chairman Greg Abel will succeed billionaire Warren Buffett as Berkshire Hathaway CEO, according to a report.

Warren Buffett warns investors not to gamble on stocks

Billionaire Warren Buffett is warning people not to think investing is an easy way to make a fortune and gamble on the stock market.

Big-business pushback against voting measures gains momentum

A pushback against new voting bills and laws in numerous states is gaining momentum.

Billionaires John, Laura Arnold to give 5% of wealth yearly

Billionaire philanthropists John and Laura Arnold have committed to donate 5% of their wealth annually as part of an effort to encourage increased, timelier donations to charities.

Warren Buffett's fortune tops $100B as his stock soars

FILE - In this May 5, 2019, file photo Warren Buffett, Chairman and CEO of Berkshire Hathaway, speaks during a game of bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Neb. Investor Buffett's fortune surged above $100 billion Wednesday, March 10, 2021, when shares of his company hit a record high at over $400,000 apiece. – Investor Warren Buffett's fortune surged above $100 billion Wednesday when shares of his company hit a record high at over $400,000 apiece. Buffett's fortune, which is mostly tied to his ownership of 248,734 Class A shares, topped $101 billion at the stock's peak Wednesday. Amazon's Jeff Bezos is listed as the world's richest man with a $179.6 billion fortune.

Warren Buffett again encourages investors to bet on America

FILE - In this May 5, 2019, file photo Warren Buffett, Chairman and CEO of Berkshire Hathaway, speaks during a game of bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Neb. Buffett is encouraging investors to maintain their faith in Americas economy and the businesses his Berkshire Hathaway conglomerate owns. – Billionaire Warren Buffett encouraged investors to maintain their faith in America's economy and the businesses his Berkshire Hathaway conglomerate owns in a reassuring letter to his shareholders Saturday. Buffett hardly even addressed the coronavirus that ravaged many businesses last year, instead focusing on the long-term prospects for the railroad, utility and insurance businesses and stocks that belong to Berkshire Hathaway. Buffett said one of his biggest investments last year was the $25 billion repurchase of Berkshire's own shares.

Game on, again: GameStop surges and no one truly knows why

After weeks of going dormant, shares of GameStop have suddenly shot higher again, rising 18.6% Thursday after surging 75% in the last hour of trading Wednesday. After short-selling funds got badly burned by last month's sudden surge, many fewer GameStop shares are being sold short now. A day after testifying in a Congressional hearing about GameStop last week, he indicated he added another 50,000 shares after Feb. 3, doubling his GameStop stock position. On Wednesday, an hour or so before GameStop shares spiked, Cohen tweeted a photo of an ice cream cone from McDonald’s, along with an emoji of a frog. Even so, GameStop shares changed hands more times by midday Thursday than for Apple, a company with a market value nearly 180 times the size of GameStop.

Buffett's right-hand man says US stock market is overvalued

Investor Warren Buffetts right-hand man, Munger, says the U.S. stock market is overvalued, but he doesnt know when the bubble will burst. Munger said Wednesday, Feb. 24, 2021, that the recent frenzy over GameStops stock was driven by small investors gambling on the stock market. – Investor Warren Buffett's right-hand man says the U.S. stock market is overvalued, but he doesn't know when the bubble will burst. Munger said the recent frenzy over GameStop's stock was driven by small investors gambling on the stock market. If you have unrealistic expectations, you’re going to be miserable all your life,” Munger said.

Investing ABCs: Teaching your kids about money and markets

The Associated Press talked to a few parents and financial experts for their tips, and included in their advice was teaching kids early on about money, keeping the discussions simple but interesting and letting kids practice investing. KEEP IT SIMPLEParents should make sure kids understand money basics before they try to conquer investing. Kids need to understand what stocks are, why people invest and how the markets work before they can understand investing. AdThere are plenty of good resources — websites, apps, books — available to help guide the way in talking with kids about money and investing (or to help bolster parents' own knowledge). Parents can also help kids identify companies they are interested in and track them using fictitious money just for fun.

Asia stocks follow Wall St. down after weaker US jobs data

(AP Photo/John Minchillo)BANGKOK – Asian stock markets followed Wall Street lower on Friday after disappointing U.S. jobs and economic data. Overnight, Wall Street's benchmark S&P 500 index lost 0.4% for its third straight daily decline. AdThe Shanghai Composite Index lost 0.9% to 3,641.63 and the Nikkei 225 in Tokyo sank 1% to 29,947.42. On Wall Street, the S&P 500 fell to 3,913.97. Congress is conducting a hearing on the recent volatility of companies caught in a tug-of-war between Wall Street institutional investors betting against the companies and the online retail investors who pushed shares higher.

Buffett's firm reveals new investments in Verizon, Chevron

Buffetts company made major new investments in Verizon and Chevron and again trimmed its huge stake in Apple while making several other adjustments to its stock portfolio in 2020. – Warren Buffett's company made major new investments in Verizon and Chevron and again trimmed its huge stake in Apple while making several other adjustments to its stock portfolio last year. Berkshire Hathaway Inc. said in regulatory filings Tuesday that it bought $8.6 billion worth of Verizon stock and picked up $4.1 billion worth of Chevron shares over the last six months of 2020. AdIn addition to those large new investments, Berkshire also revealed a new stake in professional services firm Marsh & McLennan that's worth roughly $499 million. In addition to the three new investments, Berkshire also added to its relatively new holdings in drugmakers Bristol Myers Squibb, Abbvie and Merck.

Oxfam urges radical economic rejig for post-COVID world

(AP Photo/Alvaro Barrientos)LONDON – Anti-poverty organization Oxfam warned Monday that the fallout of the coronavirus pandemic will lead to the biggest increase in global inequality on record unless governments radically rejig their economies. By contrast, Oxfam said it could take more than a decade for the world’s poorest to recover their losses. Oxfam said the basis of the scenario plotted was in line with many other economic forecasts. Oxfam has traditionally sought to inspire debate at the World Economic Forum's annual gathering of business and political elites in the Swiss ski resort of Davos. Political leaders will be joined by business executives and campaigning organizations such as Oxfam during the discussions between Jan. 25-29.

Bid to address health costs by 3 corporate giants is over

A health care venture created in 2018 by the three corporate giants to attack soaring care costs will shutter only a couple years after launching. (AP Photos, File)INDIANAPOLIS – A health care venture conceived by Amazon, Berkshire Hathaway and JPMorgan to attack soaring costs is dissolving. Haven, which was formed in 2018 by the three U.S. corporate giants, will cease operations by the end of February, a company spokeswoman said Monday. Health care costs have grown faster than wages and inflation for years, stressing families and employers. It started new designs for health care benefits that eliminated patient out-of-pocket payments like deductibles and coinsurance and encouraged access to primary care.

AP: Tight supplies for virus gear cost US states billions

The AP tallied more than $7 billion in purchases by states this spring for personal protective equipment, or PPE, and high-demand medical devices such as ventilators and infrared thermometers. Some governors described the early personal protective equipment marketplace as the Wild West, where supplies often went to the highest bidder, even if they had already been promised to someone else. This spring, states paid an average of $3 each, according to the AP's analysis. The largest supplier of personal protective equipment to states this spring had never sold a single mask before the pandemic. Others, however, were more than willing to describe how personal protective equipment sales provided a lifeline at the onset of the pandemic.

AP: States spent over $7B competing for early virus supplies

California spent the most during the pandemic's initial months — at least $1.5 billion in the AP's data — followed by Texas, Maryland, Massachusetts and Washington. Traditional safety equipment suppliers also saw a surge in PPE sales, offsetting their losses from other products amid the sudden recession. Many of the companies in the AP's data set are not publicly traded and thus can keep their financial figures private. Others, however, were more than willing to describe how PPE sales provided a lifeline at the onset of the pandemic. The AP's data for the spring includes just over $50 million in PPE sales to states by the Salem, New Hampshire, company.

Historic deal revives plan for largest US dam demolition

Oregon, California and the nonprofit would jointly take over the hydroelectric license from PacifiCorp while the nonprofit will oversee the work. Buffett said the reworked deal solves a “very complex challenge.”“I recognize the importance of Klamath dam removal and river restoration for tribal people in the Klamath Basin," Buffett said in a statement. If we just give them a chance, they will,” said Chook-Chook Hillman, a Karuk tribal member fighting for dam removal. In the original deal, PacifiCorp was to transfer its license and contribute $200 million to bow out of the removal project and avoid further costs and liability. The Klamath River project would be the largest such project by far if it proceeds.

The Latest: Trump raises $247.8M in Sept., far behind Biden

President Donald Trump speaks during an NBC News Town Hall with moderator Savannah Guthrie, at Perez Art Museum Miami, Thursday, Oct. 15, 2020, in Miami. His Democratic challenger, Joe Biden, participated in an ABC town hall from Philadelphia at the same time. __9:50 p.m.Democrat Joe Biden says President Donald Trump has not been “chastened” by the claims of racial injustice that have marked his presidency. ___9:20 p.m.President Donald Trump tried to end his contentious town hall meeting on a positive note. ___9:15 p.m.President Donald Trump demurred when asked whether he supports overturning Roe v. Wade.

Stocks are soaring, and most Black people are missing out

Or, because fewer Black families have wealth that has carried through generations, they may be more wary of risky investments. And Black households are much more likely to be in that not-as-fortunate group that isn't in the stock market. Only 33.5% of Black households owned stocks in 2019, according to data released recently by the Federal Reserve. But researchers say that even wealthier Black households are much less likely to own stocks than their white counterparts. The figure is just 44% for Black families and 28% for Hispanic families.

AP EXPLAINS: Biden sizable but not radical tax plans

There are several policy provisions tied up in Biden’s promise, but income tax rates often get the most attention. That's lower than the marginal income tax rates for many in the investor class. Gains on short-term holdings of less than a year are subject to personal income tax rates. It’s essentially a corporate version of the alternative minimum tax that some wealthier individuals use to figure their personal income tax. Biden proposes eliminating that inheritor benefit and instead applying capital gains taxes based on the original value of an asset.

Global stocks mixed after Wall Street advances to record

A man walks past a bank electronic board showing the Hong Kong share index outside a Hong Kong local bank Monday, Aug. 31, 2019. (AP Photo/Vincent Yu)BEIJING Global stocks were mixed Monday after Wall Street turned in its fifth straight weekly gain and Chinas manufacturing growth held steady. Frankfurt and Tokyo advanced while London opened lower and Hong Kong declined. On Wall Street, futures for the benchmark S&P 500 Index and the Dow Jones Industrial Average were up 0.3%. The Hang Seng in Hong Kong slipped 0.7% to 25,254.00 while the Kospi in Seoul retreated 1.2% to 2,326.17.

Berkshire Hathaway takes stakes in Japanese trading houses

TOKYO Billionaire investor Warren Buffetts Berkshire Hathaway said Monday it has taken stakes of just over 5% in five major Japanese trading houses in what it says is a long-term investment. Berkshire Hathaway said that its subsidiary National Indemnity Co. planned to notify regulators of the purchases that had been made over the past year. The companies are Itochu Corp., Marubeni Corp., Mitsubishi Corp., Mitsui & Co. and Sumitomo Corp. It said it might increase the stakes to up to 9.9% in any of the companies. The powerful trading houses are some of Japans oldest and biggest companies and the anchors of vast industrial groups called keiretsu.

Asian stocks fall back after Wall Street advances to record

A man walks past a bank electronic board showing the Hong Kong share index outside a Hong Kong local bank Monday, Aug. 31, 2019. Asian stock markets have risen after Wall Street turned in its fifth straight weekly gain and Chinas manufacturing growth held steady. (AP Photo/Vincent Yu)BEIJING Asian stock markets gave up early gains Monday after Wall Street turned in its fifth straight weekly gain and Chinas manufacturing growth held steady. The Shanghai Composite Index rose 0.8% to 3,428.07 after a survey showed growth in manufacturing held steady in August at the previous month's rate. Global stock markets have recovered most of this years losses despite rising coronavirus infection numbers in the United States, Brazil and some other countries.

Tesla's spent a year terrifying, electrifying Wall Street

Tesla's market value today is three times that of Ford, General Motors and Fiat Chrysler, combined. Only one analyst has a 12-month stock price target above the current value. Tesla's stock surge has enriched Musk, boosting his net worth to an estimated $73.5 billion. Teslas market value during the past six months has averaged $149 billion, according to data compiled Monday by FactSet Research. Musk qualified for his first batch of 1.69 billion stock options in early May after Teslas market value averaged $100 billion for a six-month period.

Airlines aim for takeoff as lockdowns ease and demand rises

The airline industry has essentially been grounded for months after a plunge in passenger demand forced American Airlines, United Airlines and others to slash flight schedules. Last week, American Airlines said that next month it will operate 55% of the U.S. flights that it ran in July 2019. United Airlines will run a more modest 30% of its schedule compared with a year ago. Shares of American Airlines surged 41% the day it announced the additional capacity. Even after passenger demand has recovered, the costs of the crisis will linger.

Cash, long a refuge in uncertain times, now under suspicion

BEIRUT In troubled times, people have been known to hoard currency at home a financial security blanket against deep uncertainty. This time cash itself, passed from hand to hand across neighborhoods, cities and societies just like the coronavirus, is a source of suspicion rather than reassurance. In the midst of the coronavirus era, a thousand calculations are made before cash is handled mostly with gloved hands. Cash, Cohle says, now carries an extra stigma.But is ditching cash altogether even feasible? An estimated $3 billion was withdrawn and stashed at home, according to the governor of the country's Central Bank.

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