Category Archives: Economy

Credit Suisse Chairman António Horta-Osório Quits Over Covid Breach. The Stock Is Down.

First American News LLC: Raleigh, NC:  Credit Suisse Chairman António Horta-Osório has resigned just nine months into the role after breaching Covid-19 quarantine rules. His abrupt departure follows an internal investigation commissioned by the board, Credit Suisse said Monday in a statement. It named board member Axel Lehmann, a former UBS (ticker: UBS) executive, as […]

Warren Buffett missed out on $10 billion in gains by dumping Wells Fargo stock — but he probably doesn’t regret cashing out

First American News LLC: Raleigh, NC:  Warren Buffett’s Berkshire Hathaway missed out on about $10 billion of gains by dumping its Wells Fargo stock in 2020 and early 2021. The famed investor’s company-owned 346 million Wells Fargo shares at the end of 2019, giving it an 8.4% stake in the bank. Berkshire virtually eliminated that […]

Hong Kong suspends transit flights for a month from most of the world due to Covid-19

First American News LLC, Raleigh, NC: Hong Kong will suspend transit flights for a month from around 150 countries and territories considered high risk because of the coronavirus, deepening the global financial hub’s isolation. The move comes as the city has seen around 50 cases of the fast-spreading Omicron variant since the end of last […]

Tech Stocks Slipped as Bond Yields Spiked, Bitcoin Dipped—and What Else Happened in the Stock Market Today

First American News LLC, Raleigh, NC: Technology stocks sold off again as bond yields spiked Friday, after the release of the December jobs report. Markets remain confident that the Federal Reserve will act rather quickly to lift interest rates. The Dow Jones Industrial Average was essentially flat and closed down just 5 points, after the […]