Berkshire Hathaway by Warren Buffett Sold most of its shares in Wells Fargo Bank In the first quarter, an important business of the company was withdrawing an investment that dates back to 1989.

The company revealed that it has reduced its holdings of 99% of the remaining shares of the bank and reduced its holdings to only 26.4 million US dollars by the end of March.

Documents submitted to the US Securities and Exchange Commission show that Berkshire was once the largest shareholder of Wells Fargo, owning almost one-tenth of its stock, which was valued at more than $30 billion in January 2018.

However, the bank is still working to resolve the consequences of the fake account scandal that first appeared in 2016. Last year, Wells Fargo agreed to pay $3 billion to cover criminal and civil losses, and the Federal Reserve has been closely scrutinizing it.

After the news came to light, Buffett said that Wells was “a great bank that made a serious mistake,” and he supported the executive change of the San Francisco-based bank’s plan. But as the controversy deepened, his commitment to Wells gradually weakened, and in 2017 he criticized management for not intervening early to limit the scandal.

Coronavirus digestion

• United Kingdom Sanitation Committee Matt Hancock Say National priorities To stab those who refuse to get vaccinated Fast-spreading variant OK in India.

• Indoor dining Back to Pass through United Kingdom On Monday, but The restaurant owner is worried Regarding the absence of tourists, commuters and concert participants.

• World Economic Forum have Scrap plan Held the annual personal annual meeting again and cancelled the meeting originally scheduled for August Singapore.

• Northern Ireland Will have to pay Price rise A party leader warned that once the Brexit grace period expires in December, generic drugs can be used.

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In the news

DoorDash is preparing to launch in Germany Food delivery app is preparing Launched in GermanyThis will be the first time a US market leader has ventured into the crowded European market. The company shared 15 vacancies to fill management, strategy and recruitment positions in Berlin. It is not clear when the plan is to start.

Biden supports Israel-Palestinian ceasefire The President of the United States said Support ceasefire During the call with the Israeli Prime Minister on Monday, the latest violence lasted for the second week.When Israeli fighter jets bombed over Gaza, the country’s blue and white flag was hoisted above the Austrian Federal Chancellery, which shows how European countries line up Support the government of Benjamin Netanyahu.

Grant Thornton hired to conduct Greensill forensic audit Grant Thornton, manager of the failed Greensill Capital Previous employment survey The relationship between the Supply Chain Finance Group and the Swiss asset management company GAM. The news drew attention to the conflict of interest of the accounting firm on Greensill, which went bankrupt in March.

International Energy Agency: Energy groups must stop new oil and gas exploration The International Energy Agency said that to curb global warming, it is vital to stop production from this year.The proposal is a Radical aspect The Paris-based organization released a report today that explores ways to achieve net zero carbon dioxide emissions by 2050.

Amazon is negotiating to acquire MGM The e-commerce giant is seeking to acquire the film studio behind the film studio. James Bond franchise About 9 billion U.S. dollars. MGM is one of the few Hollywood studios.In another big deal, AT&T has agreed Split and merge Together with its competitor Discovery, WarnerMedia created a media empire that competes with Disney and Netflix. That’s it WarnerMedia found that the plan came into being.

Oxford cannabinoid technology flotation This biotech company is developing Simulated pain relief Cannabis will be listed on the main London market this week. OCT began four years ago and was launched by a venture capital-funded medical marijuana research project at the University of Oxford. It will raise 16.5 million pounds and its estimated value is 51.5 million pounds.

Britain risks falling behind its competitors Britain may end in the 2020s”Reduce and split“The main researchers warned that they started investigating the economy. Researchers from the Solution Foundation think tank and the London School of Economics said that in addition to the coronavirus and climate change, the UK is also facing the challenges of Brexit and population issues.

Musk imitator stole $2 million in cryptocurrency scam The scammers posing as Elon Musk have Millions of dollars stolen Cryptocurrency scams from American consumers because online fraudsters try to use public interest to trade volatile cryptocurrencies such as Bitcoin.

One day in the future

Macron hosts the African Economic Summit French President Emmanuel Macron (Emmanuel Macron) will Host African leaders Today in Paris to discuss the economic impact of Covid-19, including the burden of public finances. The heads of several international organizations such as the World Trade Organization and the United Nations Children’s Fund will also attend the meeting, and some of them will participate in the virtual meeting.

U.S. housing data Driven by low interest rates and the desire to increase living space during the pandemic, the number of new housing starts in March rose to the highest level in nearly 15 years. Promote the price of wood.Economists have forecast Take a small step in April. (“Financial Times”, “Wall Street Journal”)

UK unemployment figures Unemployment data for April will be released soon.Unemployment in the UK Down to 4.9% In the three months ending in February.

The British “Financial Times” launched a New mail People and companies in the market and by which they survive and die. Written by Robert Armstrong, an American financial editor, it will enter the inbox every working day morning. registered Changed to “unhedged”.

What are we still reading

How social media attracts low-priced stocks This year, hundreds of thousands of pence stocks were privately traded away from the major U.S. stock markets, and they had their own crazy, social media-driven speculation. Financial Times Investigation The discovery of dozens of stocks that showed a sudden surge in trading-followed by a downturn-was usually inspired by social media accounts with followers.

Netanyahu’s master plan failed The strategy of Israeli Prime Minister Benjamin Netanyahu may inadvertently establish new fronts within Israel, thereby exacerbating the threat to the country. Gideon Rachman wrote. Even after the heavy blow in Gaza ceases, this threat will still exist.

Sinister PR marketing campaign connects cybercriminals with the CEO Hackers are increasingly using company tools, from “ethical” codes to legal jargon, to attack companies. After DarkSide was accused of using ransomware to shut down a vital U.S. fuel pipeline, DarkSide issued a statement that looked like a standard public relations scammer. Andrew Hill wrote.

Net Zero: From the Edge to the Mainstream It is rare in the world that any environmental protection concepts can spring up like mushrooms, such as efforts to reduce greenhouse gas emissions to net zero. Pilita Clark wrote. As a fringe concept six years ago, it has quickly become mainstream, so much so that now more than 60% of countries have achieved some kind of net zero goal. However, for many companies, the rush to zero net worth seems to be an imminent car accident.

How to avoid the return of office factions After weighing the pros and cons of the future work model, Dropbox decided to oppose the hybrid model. It chose a virtual priority strategy, which prioritizes remote work in the office. Status-conscious employees may be eager to return to the office, but this may create a two-tier workforce Warn an expert.

Podcast of the day

Labor wages war (again) The British opposition party was consumed internally after the reorganization of the shadow cabinet by Sir Keir Starmer (Keir Starmer).Latest episode Payne’s Politics Podcast Q: Is Stammer overreacting and is the Labour Party facing civil war?