OMAHA, Neb.—Billionaire Warren Buffett assured investors Wednesday that Berkshire Hathaway will be fine when he’s no longer around to lead the conglomerate. Buffett said that after Vice Chairman Greg Abel takes over, Berkshire will still follow the same model of allowing its subsidiaries to largely run themselves while looking for other companies to buy with…
Intel to Work With Arm on Chip Manufacturing Compatibility
Intel Corp. on Wednesday said its chip contract manufacturing division will work with UK-based chip designer Arm Ltd. to ensure that mobile phone chips and other products that use Arm’s technology can be made in Intel’s factories. Once the biggest name in chips known as central processing units (CPUs), Intel has seen long seen its…
Banking Turmoil Caused by SVB Mismanagement, Not Trump-Era Rollbacks: FDIC Official
April 12, 2023
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Business & MarketsCompaniesDonald Trumpeconomic policieseconomyFDICPolicies & ImpactsSilicon Valley BankUSUS News
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Former President Donald Trump’s loosening of rules in the banking sector in 2018 “had nothing to do with” the failure of Silicon Valley Bank and Signature Bank, according to Federal Deposit Insurance Corporation (FDIC) Vice Chairman Travis Hill. Since the collapse of SVB and Signature Bank, a chorus of Democrats have asserted that the former…
Airline Stocks Shares Fall on American’s So-So 1Q Outlook
FORT WORTH, Texas—Airline stocks tumbled Wednesday after American Airlines issued a lackluster outlook that appeared to amplify fears that travel demand, which has surged for the past year, could finally be slowing in the face of inflation and economic uncertainty. American said that it expects to report a small profit for the first quarter, but…
Biden EPA’s New Vehicle Emissions Standards Sparks Backlash From Auto Industry, Republicans
April 12, 2023
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Business & MarketsCompaniescongressDemocratseconomic policieseconomyelectric vehicleemissionsenergyEnvironmentEPAExecutive BranchPolicies & ImpactsPoliticsRepublicansScienceScience NewsSocial IssuesTechUSUS News
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The Environmental Protection Agency’s proposed emissions standards for automobiles and trucks are raising eyebrows in the auto industry and Washington alike. “EPA’s proposed emissions plan is aggressive by any measure. By that I mean it sets automotive electrification goals in the next few years that are … very high,” John Bozzella, president and CEO of…
Biden EPA’s New Vehicle Emissions Standards Spark Backlash From Auto Industry, Republicans
April 12, 2023
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Business & MarketsCompaniescongressDemocratseconomic policieseconomyelectric vehicleemissionsenergyEnvironmentEPAExecutive BranchPolicies & ImpactsPoliticsRepublicansScienceScience NewsSocial IssuesTechUSUS News
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The Environmental Protection Agency’s proposed emissions standards for automobiles and trucks are raising eyebrows in the auto industry and Washington alike. “EPA’s proposed emissions plan is aggressive by any measure. By that I mean it sets automotive electrification goals in the next few years that are … very high,” John Bozzella, president and CEO of…
Juul Labs Agrees to Pay $462 Million Settlement to 6 States and DC
April 12, 2023
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Business & MarketsCaliforniaColoradoCompaniesDistrict of ColumbiaIllinoisJuullabsMassachusettsNew MexicoNew YorkNorthern CaliforniaRegional & State NewssettlementSouthern CaliforniaState NewsUS
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NEW YORK—Electronic cigarette-maker Juul Labs Inc. will pay $462 million to six states and the District of Columbia, marking the largest settlement the company has reached so far for its role in the youth vaping surge, the attorneys general in several states announced Wednesday. The agreement with New York, California, Colorado, Illinois, Massachusetts, New Mexico,…
Rep. Jordan Subpoenas FTC Over Twitter, Musk Investigation
April 12, 2023
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Big Tech, Censorship, and SocialismBusiness & Marketscancel cultureCompaniescongressDemocratseconomic policieseconomyExecutive BranchFeatured TopicsFTCJordanMarketsMedia & Big TechMuskPolicies & ImpactsPoliticsRepublicansTwitterUSUS NewsWorld
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Rep. Jim Jordan (R-Ohio) on April 12 subpoenaed Chair Lina Khan of the Federal Trade Commission, stepping up the conflict between that agency and House Republicans regarding its approach to Twitter in the Elon Musk era. The Epoch Times has reviewed the subpoena. The subpoena comes after a March 10 letter to Khan from Jordan,…
Banknote Maker’s Shares Fall Amid 20-Year Low Demand for Cash
British banknote printer De La Rue’s financial struggles have sent the stock crashing, with the company seeking to amend banking terms with lenders while facing decades-low cash demand. For fiscal year 2023, 200-year-old De La Rue “expects full-year adjusted operating profits to be a mid-single-digit percentage below market expectations,” said the company in an emailed…
Bud Light Boycott Over Trans Activist Dylan Mulvaney Ad Campaign ‘Has Legs’
The boycott of Bud Light following an ad campaign featuring transgender activist Dylan Mulvaney appears to be having an impact, industry analysts say. “This boycott seems to have more legs than most,” Justin Kendall, editor of beer industry trade publication Brewbound, told the New York Post on Tuesday. “It started out as a conversation on social…
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