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Tag: billion

Investing lessons from Warren Buffett's $9 billion Oncor 'stumble'

Investing lessons from Warren Buffett's $9 billion Oncor 'stumble'

Finance
Berkshire Hathaway recently made investment headlines with its agreement to purchase the power-transmission company Oncor for $ 9 billion in cash, a would-be coup for the legendary billionaire, as it would have chipped away at Berkshire's bloated cash balance (of nearly $ 100 billion).Disappointment, however, came in the form of Sempra Energy, which swooped in with an offer of $ 9.45 billion. This made headlines, some of which characterized the chain of events as a "stumble" by Buffett, even insinuating that the Oracle of Omaha might be losing his deal-making chops.A recent article in Fortune quotes an equity analyst who argues that Berkshire's loss of two large acquisition opportunities this year "calls into question the effectiveness of their gentleman's agreement acquisition strategy,"...
EPFO may pump in Rs 250-300 billion in equities during FY18

EPFO may pump in Rs 250-300 billion in equities during FY18

Finance
MUMBAI: Emerging as a significant source of investments into capital markets, Employees Provident Fund Organisation (EPFO) is likely to pump in Rs 250-300 billion in equities in 2017-18 with Rs 57 billion already invested this year so far, says a report. According to global brokerage Morgan Stanley, besides EPFO, the National Pension Scheme (NPS) is also among the sources for driving the domestic flow surge, which has been positive for the past 17 months. "NPS' pension assets stood at $ 30 billion at the end of July. We estimate their equity assets to be at USD 3.5 billion," the report said. The report noted that EPFO, which has raised its equity allocation to 15 per cent in the current fiscal from 10 per cent in 2016-17, is "likely to invest Rs 250-300 billion in equities in 2017-18 ...
Wisconsin Assembly passes $3 billion for Foxconn

Wisconsin Assembly passes $3 billion for Foxconn

Technology
The Wisconsin Assembly approved a $ 3 billion tax break Thursday with bipartisan support for Taiwan-based Foxconn Technology Group to build a massive display panel factory in the state, a project President Donald Trump touted as a transformational win for the U.S. economy. Foxconn announced three weeks ago it planned to invest $ 10 billion in Wisconsin on the first liquid crystal display panel factory located outside of Asia. The company, which employs about 1 million people in China, said it could eventually hire 13,000 workers at the Wisconsin facility. As part of the deal, the Wisconsin Legislature must approve the $ 3 billion incentive package by the end of September. Democratic critics, who didn't have the votes to stop the incentive package or the project, argued Thursday that the p...
Americans paid $15 billion in overdraft fees last year, CFPB says

Americans paid $15 billion in overdraft fees last year, CFPB says

Finance
What is the CFPB?Americans have racked up billions -- yes, billions -- of dollars worth of overdraft charges. In 2016, U.S. consumers paid a total of $ 15 billion in fees for bouncing checks or overdrafting--which is when a customer tries to make a purchase without enough money in their account to cover the transaction-- according to new data released by the Consumer Financial Protection Bureau. All banks with assets over $ 1 billion must report how much money it brought in via bounced check and overdraft fees, according to CFPB. And this year the industry rang up at $ 11.41 billion. That's up 2.2% from 2015, which was the first year banks began reporting total overdraft and bounced check fees to the CFPB. Adding in it's best guess for what smaller banks and credit unions charged, and CF...
Astronomers spot superluminous supernova 10 billion light-years away

Astronomers spot superluminous supernova 10 billion light-years away

Science
July 21 (UPI) -- Researchers have identified a superluminous supernova located 10 billion light-years from Earth. It is one of the brightest and most distant star deaths ever recorded.Because the intense radiation produced by the supernova has been traveling for 10 billion years, it offers astronomers a glimpse of the universe's past -- a snapshot of the cosmos as it was just 3.5 billion years after the Big Bang, a time period known as "cosmic high noon."During cosmic high noon, the universe's young galaxies began churning out stars at a prodigious rate.Superluminous supernovae, sometimes called hypernovae or SLSNs, are much rarer than other types of supernovae. They're also 10 to 100 times brighter. Astronomers have struggled to determine what exactly makes the massive star death differen...