(Bloomberg) -- Warren Buffett’s Berkshire Hathaway Inc. dumped its stakes in the four largest U.S. airlines but the billionaire investor remains deeply exposed to the collapse in air travel.Berkshire still owns all of Precision Castparts Corp., a supplier of aerospace parts that’s bracing for lean times as Boeing Co. and Airbus SE cut jetliner production. Berkshire bought Precision Castparts in 2016 in a transaction valued at $37.2 billion, making it one of Buffett’s biggest deals.Now the maker of jet-engine blades and aircraft structural components is facing a double whammy as the coronavirus pandemic all but erases demand for flights, prompting airlines to park jets and slash schedules. That means less need for replacement parts and a big drop in aircraft purchasing. With carriers predicting that flying won’t return to 2019 levels for as long as three years, aerospace suppliers are hunkering down for a protracted slump.“The current downturn is quite different...
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]...
Oil prices fell in early trade on Monday, paring last week's gains, on worries the global oil glut may persist as U.S.-China trade tension could hold back an economic recovery even as coronavirus pandemic lockdowns start to ease. U.S. West Texas Intermediate (WTI) crude futures fell as low as $18.32 a barrel and were down $1.46, or 7.6%, at $18.27 at 0008 GMT. The market found support last week as major oil producers led by Saudi Arabia and Russia were set to begin cutting production on May 1, while the top two U.S. producers, Exxon Mobil Corp and Chevron Corp, each said they would cut output by 400,000 barrels per day this quarter....
U.S. universities are reeling from the chaos resulting from the coronavirus pandemic, and one dean’s far-sighted business move might help save his school a lot of money....
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]...
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]...
