U.S. President Donald Trump signed an executive order on Saturday directing the Education Department to extend an interest-free payment pause for 40 million student loan borrowers until at least the end of 2020....
(Bloomberg) -- The federal agency that announced a $765 million loan to Eastman Kodak Co. less than two weeks ago said the offer is on hold pending probes into allegations of wrongdoing.“Recent allegations of wrongdoing raise serious concerns,” the U.S. International Development Finance Corporation said in a tweet Friday night. “We will not proceed any further unless these allegations are cleared.” Congress and the Securities and Exchange Commission are investigating the deal, and Kodak’s board said Friday it is also opening a review of the loan disclosure.The development bank loan announced July 28 was the first of its kind under the Defense Production Act in collaboration with the U.S. Department of Defense. It was intended to speed production of drugs in short supply and those considered critical to treat Covid-19, including hydroxychloroquine, the controversial antimalarial drug touted by President Donald Trump.The president, along with New York Governor Andrew Cuomo and White...
(Bloomberg) -- Shares of Berkshire Hathaway Inc. were left out of the stock market rally in the second quarter. Warren Buffett clearly thought the disconnect wasn’t warranted.The famed investor spent a record $5.1 billion buying back Berkshire’s own stock in the second quarter, more than double the amount he’d ever purchased before. That came as he unloaded almost $13 billion of other companies’ shares, including airline stocks and some financials, in what was his biggest selling quarter in more than a decade.Buffett has been building up cash this year and took a more cautious tone at his annual meeting in May as the Covid-19 pandemic has slammed the economy without putting a permanent dent in stock-market valuations. But his appetite for his own stock in the second quarter, along with recent signs that he’s been willing to put more money to work, are reasons for some optimism, according to Jim Shanahan,...
* This weekend's Barron's cover story discusses how to prepare a portfolio for the upcoming elections. * Other featured articles look at stand-out dividend growth stocks, how to play dual-share stocks and who wins and loses from the shift in moviegoing. * Also, the prospects for Warren Buffet's empire, a cosmetics giant, a pawn shop operator and more.Cover story "2020 Election: How to Prepare Your Portfolio" by Lisa Beilfuss explains what three potential election outcomes could mean for stocks from Exxon Mobil Corporation (NYSE: XOM) to Tesla Inc(NASDAQ: TSLA) and for industry sectors and the U.S. economy.Ben Levisohn's "Walt Disney and the End of Moviegoing" makes a case that Walt Disney Co (NYSE: DIS) releasing "Mulan" via Disney+ may change how we watch movies forever. That's bad news for companies like AMC Entertainment Holdings Inc (NYSE: AMC).In "Estee Lauder Stock Could Shine When the Pandemic Passes," Teresa Rivas shows why leading...
The standard method of determining what industry a company is in is by looking at its underlying business. By that standard, Tesla (NASDAQ:TSLA) is clearly in the auto business. Virtually all of the company’s revenues and costs are related to building, selling, and servicing automobiles. But there is another way of checking whether a company is an […]...
