Saturday, 8 Aug 2020

Coronavirus punishes Warren Buffett as Berkshire Hathaway takes big writedown

(Reuters) – Berkshire Hathaway Inc on Saturday announced a $9.8 billion writedown and 10,000 job losses at its Precision Castparts aircraft parts unit, as the coronavirus pandemic caused widespread pain at Warren Buffett’s conglomerate. Despite the writedown, Berkshire said second-quarter net income surged 87% because of gains in stock investments such as Apple Inc as […]

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Beirut port explosion: Officials detained as probe promised

Lebanese authorities have taken into custody 16 people as part of an investigation into the Beirut port warehouse explosion. An international donor conference to collect aid for Lebanon is scheduled for Sunday. The country is in desperate need of help after an explosion at the port in Beirut on Tuesday. President Michel Aoun has promised […]

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Trump seeks to go it alone after coronavirus stimulus talks break down

BEDMINSTER, N.J. (Reuters) – President Donald Trump on Saturday plans to sign an executive order intended to provide economic relief to Americans hurt by the coronavirus pandemic after the White House failed to reach a deal with Congress, a White House source said. “Amid congressional inaction, POTUS will be taking action to help Americans in […]

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Shots, tear gas fired as protests against Beirut explosion grow

BEIRUT (Reuters) – Lebanese riot police fired tear gas at demonstrators trying to break through a barrier to get to the parliament building in Beirut on Saturday and shots were heard as protests over this week’s devastating explosion grow. Dozens of protesters broke into the foreign ministry where they burnt a framed portrait of President […]

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Hong Kong slams ‘shameless’ U.S. sanctions on leader Carrie Lam

HONG KONG — The Chinese and Hong Kong governments strongly criticized Washington Saturday after the United States imposed sanctions on the territory’s leader Carrie Lam, and other officials, dismissing the move as “clowning actions” that would not intimidate Chinese people. Hong Kong’s government said the sanctions were “shameless and despicable” and represented a “blatant and […]

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