Warren Buffett looks to Japan, takes 5% stakes in five trading companies

first_imgBerkshire Hathaway Inc said it has acquired slightly more than 5 percent of the shares in five large Japanese companies, marking a departure for Chairman Warren Buffett as he looks outside the United States to bolster his conglomerate.In a statement on Sunday, Buffett’s 90th birthday, Berkshire said it acquired its stakes in Itochu Corp, Marubeni Corp, Mitsubishi Corp, Mitsui & Co and Sumitomo Corp over approximately 12 months.Berkshire said it intends to hold the investments for the long term, and may boost its stakes to 9.9 percent. A Berkshire insurance business, National Indemnity Co, is holding the shares. “I am delighted to have Berkshire Hathaway participate in the future of Japan,” Buffett said in a statement. “The five major trading companies have many joint ventures throughout the world and are likely to have more…. I hope that in the future there may be opportunities of mutual benefit.”The Japanese investments will help Buffett reduce his Omaha, Nebraska-based conglomerate’s dependence on the United States economy, which last quarter suffered its deepest contraction in at least 73 years as the coronavirus pandemic took hold.Many of Berkshire’s own operating businesses have struggled, and Berkshire this month took a $9.8 billion writedown on its Precision Castparts aircraft parts business.Berkshire owns more than 90 businesses including the BNSF railroad and Geico car insurer outright.It also invests in dozens of companies including Apple Inc, with a roughly US$125 billion stake based on its holdings as of June 30, as well as American Express Co, Bank of America Corp and Coca-Cola Co.Most of Berkshire’s operating businesses are American, though it has acquired a handful of foreign companies including Israel’s IMC International Metalworking and German motorcycle apparel retailer Detlev Louis.Additional investments in Japan could also help Buffett reduce Berkshire’s cash stake, which ended June at a record $146.6 billionTopics :last_img read more

Robin van Persie reveals he had one doubt about leaving Arsenal to sign for Man Utd

first_imgAdvertisement Advertisement Metro Sport ReporterWednesday 22 Jul 2020 5:16 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link336Shares Robin van Persie joined Man Utd from Arsenal in the summer of 2012 (Picture: Getty)The ‘little boy inside him’ infamously convinced Robin van Persie to defect from Arsenal to Manchester United, but the former Red Devils striker admits he did have one doubt in his mind when he moved from the Emirates to Old Trafford.The former Netherlands international left the Gunners in acrimonious circumstances in the summer of 2012 when he openly criticised Arsene Wenger’s transfer policy and claimed Arsenal were incapable of matching his ambition.United ultimately beat Manchester City to his signature, agreeing a £24million deal for a player who had just over a year remaining on his contract. Van Persie was an instant hit at his new club, but after enjoying so many battles against the likes of Rio Ferdinand, Nemanja Vidic and the like, he was unsure how he would be received in the dressing room.AdvertisementAdvertisementADVERTISEMENT‘There was a question from my point of view as well, before I signed, just to check how the older players were looking at me coming to play there,’ Van Persie told United’s official website. Robin van Persie reveals he had one doubt about leaving Arsenal to sign for Man Utd Robin van Persie’s goals fired Manchester United to the 2012/13 title (Picture: Getty)‘I wanted to know if they were ok with it or not, because we had been competing for the last eight years and we are all human. ‘What was important for me was that the guys would accept me as the player and person that I am. After I checked that, everything was positive.’Asked how he found out what his new team-mates thought of him, Van Persie added: ‘Through [Rene] Meulensteen, the assistant coach. He did that and everyone was very positive. After that, it was like the training sessions were different – because it is different with every coach, it is not better or worse, it is just different. More: Manchester United FCRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starNew Manchester United signing Facundo Pellistri responds to Edinson Cavani praiseEx-Man Utd coach blasts Ed Woodward for two key transfer errors‘But what I noticed with myself, if you look at my body for example, of course during the first couple of years with Arsenal, when I was 25 and 26, if you compare that body physically to the body I had after a year in Manchester, there was more muscles. ‘It was stronger, you could see it from my upper body, from my bum, there were a couple more kilos there and it was all muscle, which must be – because I sometimes I ask myself the question why that was – because of the training sessions and the gym sessions that we did.’MORE: Jack Grealish advised to join big club like Manchester United or Tottenham by Gabby AgbonlahorMORE: Anthony Martial must show more ‘desire and passion’, says Manchester United legend Andy ColeFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram.For more stories like this, check our sport page. Commentlast_img read more

Trillanes, 10 others face sedition raps

first_img Advincula claimed that the opposition Liberal Party and Trillanes were behind the videos and also in separate ouster plot against President Duterte. Trillanes, in defense, had said Advincula “embellished” real events to “concoct his version of the story.”/PN Peter Advincula, the man who introduced himself as hooded figure “Bikoy” in “Ang Totoong Narcolist” videos that linked the first family to narcotics trade, was also included in the case. Advincula earlier tagged Duterte’s son Paolo, son-in-law Manases Carpio and long-time aide Christopher Go, in drug involvement but took back all his claims, saying the opposition had put him up to it. MANILA – The Department of Justice (DOJ) has slapped former Sen. Antonio Trillanes IV and 10 others with conspiracy to commit sedition for allegations linking President Rodrigo Duterte and his family to the illegal drug trade.center_img Vice President Maria Leonor “Leni” Robredo and some members of the opposition were cleared of sedition and other charges, according to DOJ secretary Menardo Guevarra. Former senator Antonio Trillanes IV. ABS-CBN NEWS The complaint, which was filed at the Quezon City Metropolitan Trial Court, alleged that Trillanes and others are involved in “circulating malicious and scurrilous libels,” “to inflict an act of hate” against President Duterte.last_img read more