Columbia, South Carolina – Former President Trump claims the four criminal indictments against him boosted his support among black Americans because they view him as a victim of discrimination, comparing the legal jeopardy he faces to the historical legacy of anti-black bias in the American legal system.Trump says he is the victim of political persecution, although there is no evidence that President Biden or White House officials influenced the 91 criminal charges against him. Trump also recently compared himself to Alexei Navalny, Russian President Vladimir Putin's biggest domestic rival, who died in a remote Arctic prison after being imprisoned by…
Author: ricardofrancois
Investor sentiment towards medium-term Treasuries may change.David Potsitt of Schwab Asset Management is seeing more flows into bonds with maturities that typically range between three and five years — and sometimes up to 10 years.“People are starting to realize that we have reached the peak of interest rate increases,” the company's head of innovation and stewardship told CNBC's “ETF Edge” this week. “So, they are looking to reposition the fixed income portion of their portfolio to take advantage of where interest rates are likely to go next.”It's a shift from last year when short-term bonds and money market funds saw…
Warren Buffett before Berkshire Hathaway's annual shareholders meeting in Omaha, Nebraska.David A. Grosjean | CNBCBerkshire Hathaway On Saturday, it reported a big rise in fourth-quarter operating profit, thanks to huge gains in its insurance business, while its cash pile expanded to record levels.The Omaha-based group posted operating earnings — which refers to corporate profits across insurance, railroads and utilities — of $8.481 billion in the quarter ended December. This is 28% more than $6.625 billion compared to the same period last year.For all of 2023, this brought operating profit to $37.350 billion, up 17% from $30.853 billion the year before.Berkshire…
Withaya Prasongsin | moment | Getty ImagesDespite the decline in home sales in the United States, many homeowners made profits from the sale of properties in 2023. Experts say those gains could lead to a tax bill this season, depending on the size of the windfall.In 2023, home sellers made a profit of $121,000 on the typical median-priced single-family home, according to ATTOM, a nationwide real estate database. That's down from $122,600 in 2022 But sometimes profits exceed the IRS limits for tax-exempt gains and “it's a shock” to sellers, said certified public accountant Miklos Ringbauer, founder of MiklosCPA in…
Warren Buffett tours Berkshire Hathaway's annual shareholders meeting headquarters in Omaha, Nebraska. David A. Grosjean | CNBCWarren Buffett shared a heartfelt tribute to the late Charlie Munger, describing his business partner of 60 years as today's engineer. Berkshire Hathaway.In his must-read annual letter on Saturday, the 93-year-old “Oracle of Omaha” explained the instrumental role Munger played in helping him expand his collection and reflected on his fruitful and loving relationship with his right-hand man.“In effect, Charlie was the ‘architect’ of today’s Berkshire, and I acted as the ‘general contractor’ to implement his day-to-day vision,” Buffett wrote. “Charlie never sought credit…
Warren Buffett tours the floor before Berkshire Hathaway's annual shareholders meeting in Omaha, Nebraska.David A. Grosjean | CNBCWarren Buffett on Saturday issued his annual letter to shareholders. In it, he pays tribute to his old friend and right-hand man Charlie Munger, who died in late 2023. He also discusses his expectations for the company. Check out the PDF below for the full message:
Travelers arrive for flights at O'Hare International Airport in Chicago on March 16, 2021.Scott Olson | Getty Images News | Getty ImagesAirlines are raising their prices for checked bags — again. However, how much it will cost depends on when you pay for the service.United Airlines, American Airlines And JetBlue Airlines It is among the carriers that raised bag check prices this year. Each of them charges customers more if they check their bags at the airport or near their departure than if they pay to check bags online in advance.Airlines are encouraging customers to pay to check their bags…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.Rolls-Royce's new chief executive has made paper profits approaching £22m from his holdings in the British engineer after a strong rise in its share price.Tuvan Erginbilgic, who took over in January last year, received £7.5m worth of shares in two tranches as a gold bonus to make up for lost profits and bonuses from the private equity firm he previously worked for, Global Infrastructure Partners.Investors bought into his restructuring, making Rolls-Royce stock the best performer in the European Stoxx 600 index of…
Financial flexibility provides a safety net that you rarely use — but when you need it, you'll be glad you have it.“A household has financial resilience if it is prepared to face unexpected financial shocks,” said Emerson Sprick, associate director for economic policy at the Bipartisan Policy Center, a think tank in Washington, D.C.Shocks can include costs such as a surprise medical bill, home repairs, or loss of income due to layoffs. They tend to be “unpredictable in their timing, but we generally know they will happen throughout our lives,” Sprick added.Since we're all likely to face financial shocks at…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.Blackstone Group's Stephen Schwarzman's income fell below $1 billion in 2023, down more than 30 percent from the previous year, as a slowdown in deal making made it difficult for the world's largest private equity group to sell investments for a profit.Most of Schwarzman's close to $900 million of money came from about $780 million in dividends due to his ownership of about 20 percent of the private equity group he co-founded. In addition, he received approximately $120 million in “carried interest”…