How has the king of buy-and-hold investment fared in China? Not bad, based on a bet Warren Buffett made a decade ago. On Sept. 26, 2008, Berkshire Hathaway Inc. (brk-b) agreed to buy what is now equivalent to 24.59% of BYD Co.’s Hong Kong-traded stock. Those shares in what is now China’s biggest maker of…
IN HIS trade war with China, President Donald Trump appears to have the upper hand. The new tariffs his administration unveiled this week, which will raise the share of Chinese imports subject to levies to at least 44%, are unlikely to dampen America’s sizzling economy, or to boost inflation by much. Though some firms will…
OF THE various things Britain’s government has got wrong in its Brexit negotiating strategy, perhaps the most enduring is the belief that it could drive a wedge into the ranks of the remaining 27 members of the European Union. A favourite early mantra of Brexiteer MPs was that German carmakers would pressure Angela Merkel to…
TEN YEARS AFTER the weekend that upended the financial world, its most important lessons lie not in what has changed, vast and profound though that is, but in what hasn’t changed. The main causes of the last crisis—human self-delusion and irrationality—will be the main causes of the next one. If that seems unbearably depressing, cheer…
ANOTHER week, a further ratcheting up of trade tensions between America and China. On September 17th President Donald Trump announced that he had approved another wave of tariffs on Chinese imports. From September 24th, imports of products which in 2017 were worth as much as $189bn, including furniture, computers and car parts, will be hit…
Media playback is unsupported on your device Media captionPeople have left homes and taken precautions ahead of the hurricane US East Coast residents are running out of time to flee before Hurricane Florence batters the region, officials have warned.The category three storm with 125mph (205km/h) winds is forecast to make landfall early on Friday.Up to…
Zachariah Vargas was six hours into his shift delivering packages for Amazon. He was about to drop off a package when he accidentally slammed the door of his truck on his hand. The door clicked shut, trapping his middle and ring fingers. Once he freed his fingers, the blood began to pour. Both of Vargas'…
HOLDEN BEACH, N.C. (Reuters) - Mass evacuations were ordered along the U.S. Atlantic Coast as Hurricane Florence, a Category 4 storm and the most powerful to menace the region in nearly three decades, barreled toward the region on Tuesday. Hurricane Florence is seen from the International Space Station as it churns in the Atlantic Ocean…
JPMorgan Chase CEO Jamie Dimon isn't shy about apportioning blame for a worse-than-possible economic recovery, saying it would have been twice as strong but for a collection of bad policies. "It was nine years, 20% growth; it should have been nine years, 40% growth," Dimon said in a late July interview with Business Insider. "What…
WHEN historians gaze back at the early 21st century, they will identify two seismic shocks. The first was the terrorist attacks of September 11th 2001, the second the global financial crisis, which boiled over ten years ago this month with the collapse of Lehman Brothers. September 11th led to wars, Lehman’s bankruptcy to an economic…
