Berkshire Hathaway , owned by Warren Buffet, has requested Fed’s permission to increase its share in BofA above 10%. The bank’s stocks rose more than 3% on Tuesday after Bloomberg reported Buffett’s interest. Berkshire, which owns a 9.96% share in Bank of America, applied to the Fed. The company reassured the watchdog that it would invest in the institution passively, without any amendments in...

Central Banks officials have been cutting interest rates in response to ongoing trade tensions in an effort to mitigate economic fallout. This is one of a number of ways that the European Central Bank, the Bank of Japan, and the Federal Reserve, in particular, have unique influence over the global economy. It is easy to forget that central banks are also responsible for creating the physical...

German carmaker Volkswagen AG has postponed the final decision on the construction of a plant in Turkey, according to Handelsblatt. “We are watching the situation with great concern,” the company told the publication. Turkey has been criticized internationally for a military operation in northern Syria, and VW is concerned about potential reputation risks. In early October, VW established a...

Facebook’s head Mark Zuckerberg will tell about Libra cryptocurrency at the U.S. House finance and housing committee on October 23, Axios reports. The speech by Facebook representatives to launch the Libra cryptocurrency is not the first in the American congress. David Marcus, head of another Facebook’s project, Calibra (a special crypto-wallet for Libra), already spoke on this issue at the...

53-year-old Makoto Uchida, president of Dongfeng Motor's Chinese business and senior vice president of Nissan, has become new CEO of Nissan Motor. This was reported by the company’s press service. Earlier, his appointment was reported by business media. Ashwani Gupta, who held the same position at Mitsubishi Motors Corp., will be the company's chief operating officer. Nissan Vice President Jun...

Jury in Philadelphia, PA ordered the American holding company Johnson & Johnson to pay $ 8 billion in compensation to a resident of Maryland who suffered from side effects of Johnson & Johnson’s drug for treating schizophrenia and bipolar disorder, the Wall Street Journal writes. According to the publication, such a verdict was issued on Tuesday, October 8. Nicholas Murray, the plaintiff,...

When planning еру initial public offering, WeWork, a coworking startup, sent investors inaccurate massages on its work, The Wall Street Journal writes. The publication believes that this circumstance may further undermine investor confidence in the company. The parent structure of the We Co startup provided incorrect information about the number and cost of work places that WeWork equipped in...

The US e-commerce giant has cut its investment in India this year. Since the start of this fiscal year, Amazon has invested 28 billion rupees ($ 394 million) in its Indian division called Amazon Seller Services, compared with 94.5 billion ($ 1.3 billion) last year, according to the Economic Times. Unless the retailer makes significant investments in the last quarter of this calendar year, this...

Apple Inc has informed its suppliers that it will increase release of smartphones from the latest product line (iPhone 11) by 10%. The company wants to meet higher than expected demand, according to Nikkei Asia Review. This means additional production of approximately 7-8 million phones. Apple introduced three new iPhone 11s in September. Prices in the US start at $ 699, which is $ 50 less than...