According to CEO Insights, India is trying to overtake China in terms of investment, but there are a lot barriers in the way of its potential. It is nearly hard to enter the market in this country successfully due to the high tax burden, inadequate intellectual property protection, and overly […]
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US stocks whipsawed overnight after Fed Chair Powell’s remarks
Fed chair reiterated bank’s commitment to control inflation through rapid series of interest-rate increases U.S. stocks were whipsawing between negative and positive territory overnight after investors sold stocks and government bonds after Federal Reserve Chairman Jerome Powell reiterated the central bank’s commitment to controlling inflation through a rapid series of interest-rate […]
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Berkshire Hathaway to pay $12bn for insurance-to-toys conglomerate Alleghany
Berkshire Hathaway said Monday morning it agreed to buy insurance company Alleghany for $11.6 billion, or $848.02 per share, in cash. The conglomerate said the deal “represents a multiple of 1.26 times Alleghany’s book value at December 31, 2021,” as well as a 16% premium to Alleghany’s average stock price […]
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GM buys SoftBank’s stake in its driverless car unit Cruise
GM’s ownership in Cruise will be about 80% and SoftBank will no longer have an ownership interest General Motors Co. said it is buying out SoftBank Vision Fund L.P.’s stake in its Cruise division for $2.1 billion, roughly four years after the Japanese investment firm joined the car maker in […]
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Toyota will lose RAV4, Land Cruiser, Lexus output on quake shutdowns
Toyota will halt production on 18 lines at 11 factories in Japan after an earthquake buckled highways that serve as critical supply arteries. TOKYO – Toyota Motor Corp. will suspend operations at more than half its operations across Japan and is studying potential disruption to overseas production because of supply chain interruptions triggered by […]
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Inflation will stay at 6% to 9% until 2024, Fed’s rate hikes won’t stop that now – Steve Hanke
The U.S. Federal Reserve hiked the Fed Funds rate by 25 basis points on Wednesday, the first rate hike since 2018. While this move was largely anticipated, the markets still rallied on the news; both the stock markets and safe haven assets like gold rose. The dollar fell slightly. Steve […]