NEW YORK—Warren Buffett resigned Wednesday as trustee of the Bill and Melinda Gates Foundation, which says it will announce plans in July to answer questions raised about its leadership structure as it deals with the divorce of its two founders. The announcement from Buffett comes weeks after Bill and Melinda Gates revealed that they were…
Canada Faces Potential Economic Hit Under Biden’s Buy America Order: Trade Expert
Under the Biden administration’s version of “Buy America,” Canada is not likely to get any special exemptions for U.S. government procurement contracts, according to an expert on international trade.
Investors Fret Over Inflation, Fed Policy, Asset Bubbles in 2nd Half of 2021
Investors have shifted their spectrum of concerns from slow growth, high unemployment, and deflationary pressures at the beginning of 2021, to inflation, asset bubbles, and Fed policy, with their gaze keenly set on how the central bank navigates the delicate balance between supporting the labor market recovery and containing upwards price pressures. In remarks to The…
No Tuna DNA in Subway’s Tuna Sandwiches, Lab Analysis Finds: Report
A commercial lab test commissioned by The New York Times found no identifiable tuna DNA in a number of Subway tuna sandwiches. In a report published Sunday, the NY Times said that a reporter acquired “more than 60 inches worth of Subway tuna sandwiches” from three Subway outlets in Los Angeles, and researchers were unable…
Keep the Homeowner’s Insurance
Dear Dave, Recently, I made a claim on my homeowner’s insurance for hail damage. It was my first claim ever. Since I’m retired and completely debt-free—including my home—and have over $1 million in the bank, is homeowner’s insurance still a good idea? The house is insured for $250,000, with a $5,000 deductible, and the insurance…
Veteran Media Figure Reveals How the Chinese Media ‘Set the Tempo’ to Destroy Tesla
Recently, a short video of veteran radio host Wang Li talking about how the Chinese media managed to mislead the public and ruin Tesla’s reputation was circulated widely on the internet. In the video, Li said a fan asked him about how anyone could dispute the reports that come out every day in China about a…
Consumers Not Companies Bearing Brunt of Inflation: Report
WASHINGTON—Widespread commodity shortages are raising production costs for many consumer brands from Coca Cola to Hershey’s chocolate to Colgate. However, companies so far see inflation as a boon to their profits since they can pass higher costs on to consumers without facing competitive pressure. More S&P 500 companies are commenting on inflation than normal during…
Wall Street Firm Blackstone Invests $6 Billion in Single-Family Homes
Investment firm Blackstone Group acquired 17,000 single-family rental homes on Tuesday in a deal worth $6 billion. Blackstone, an asset management firm that focuses on alternative investments, acquired Home Partners of America (HPA) along with its 17,000 home inventory, the firm announced in a statement Tuesday. Blackstone will continue HPA’s business model of offering its…
Employers Must Brace for Competitive Talent Market as Workers Rethink Careers and Job Expectations: Survey
A new survey suggests employers should brace for an increasingly competitive talent market post-pandemic, with half of U.S. workers telling pollsters they feel more in control of their careers and a majority saying they’d like to retrain for a job in an entirely different field. According to Prudential’s latest Pulse of the American Worker Survey, which polled…
Bitcoin Struggles to Regain Ground After Plunging on China Clampdown
LONDON/HONG KONG—Bitcoin strained on Tuesday to climb away from a two-week low touched a day earlier when China’s central bank reaffirmed a clampdown on cryptocurrencies and restricted trading channels for Chinese residents. The world’s largest cryptocurrency gave up most of its earlier gains and was last up 0.5 percent at $31,753. It tumbled over 10…
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