Buffett’s company records a loss of $ 44 billion, but its businesses thrive

Buffett’s company records a loss of $ 44 billion, but its businesses thrive

OMAHA, Neb. (AP) – Warren Buffett’s company reported a loss of $ 43.76 billion in the second quarter as the paper value of its investments plummeted, but Berkshire Hathaway’s numerous operating companies have generally performed well, suggesting that the general economy is resisting the pressure of inflation and rising interest rates. Berkshire said on Saturday … Read more

Senate rules arbiter weakens the Dem drug plan in the income statement

Senate rules arbiter weakens the Dem drug plan in the income statement

WASHINGTON (AP) – Senate lawmaker on Saturday dealt a blow to the Democrats’ plan to cut drug prices, but left the rest of their sprawling economic bill largely intact as party leaders braced for the first votes on a package containing many of President Joe Biden’s top national goals. Elizabeth MacDonough, the non-partisan arbiter of … Read more

‘What Recession?’: US employers add 528,000 jobs in July

‘What Recession?’: US employers add 528,000 jobs in July

WASHINGTON – U.S. employers added a staggering 528,000 jobs last month, despite warning signs of an economic downturn, easing recession fears, and delivering good news to President Joe Biden ahead of the mid-term elections. Unemployment fell another notch, from 3.6% to 3.5%, equaling the more than 50-year low reached just before the pandemic took hold. … Read more

Markets face crucial summer week, with Fed, earnings and economic data

Markets face crucial summer week, with Fed, earnings and economic data

A trader works on the floor of the New York Stock Exchange (NYSE), June 27, 2022. Brendan McDermid | Reuters There’s a head-spinning amount of news for markets to navigate in the week ahead, the biggest of which will be the Federal Reserve’s midweek meeting. The two largest US companies – Microsoft and Apple – … Read more

66% fear a recession is coming. What concerns each generation the most

66% fear a recession is coming.  What concerns each generation the most

A customer is shopping at a Kroger grocery store on July 15, 2022 in Houston. Brandon Bell | Getty Images While experts debate whether the United States is on the verge of an economic downturn, many Americans are already bracing themselves for a recession. At that point, 66% of Americans fear a severe recession is … Read more

Democrats seem to be headed for the climate, health wins after ups and downs

Democrats seem to be headed for the climate, health wins after ups and downs

WASHINGTON – It has been over a year and has seen many ups and downs. Now, a democratic economic package focused on climate and health care faces hurdles, but looks headed towards Congress passing the party line next month. The approval would allow President Joe Biden and his party to claim triumph over top priorities … Read more

Unprecedented profit for major oil drillers as prices soared

Unprecedented profit for major oil drillers as prices soared

NEW YORK (AP) – Oil companies have made record profits in recent months at a time when Americans were struggling to pay for gasoline, food and other basic necessities. On Friday, Exxon Mobil posted an unprecedented profit of $ 17.85 billion for the second quarter and Chevron made a record $ 11.62 billion. The skyrocketing … Read more