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

Ripley County schools receive awards in National Rube Goldberg contest

first_imgCOLUMBUS, Ohio. — St. Louis School and the Ripley County Engineering Academy, the Division I and Division II winners of the Regional Rube Goldberg Machine Contests, won awards recently at the National Rube Goldberg Machine Contest at the Columbus Ohio Center for Science and Industry.This year’s task was to “Apply a Band-Aid.”In the first ever live Division I National Rube Goldberg Machine Contest, the “Rube World Staffers” team from St. Louis School entertained contest officials with their circus-themed machine.The team accomplished the task in 13 steps to capture a second place finish.The Division II Nationals saw intense competition among 14 teams from around the nation.The Ripley County Engineering Academy’s machine, “Operation Sam,” was selected by Rube Goldberg’s Granddaughter, Jennifer George, as her favorite machine due to its whimsical theme and amusing story.George awarded the Rube Goldberg Legacy Award to “Operation Sam” which is a priceless experience. Congratulations to both teams!last_img read more

UEFA Women’s EURO 2017 Final Preview

first_imgTwo first-time finalists will on Sunday make their way out of the FC Twente Stadion dugout in Enschede for the final of the UEFA Women’s EURO 2017, with both looking to make the night a historic one for their country.Either hosts the Netherlands or Denmark – both emerging from Group A – will become the fourth different Women’s EURO champions after what is expected to be an intense game.Like it has been since the opening match, the Netherlands will have the massive backing of their fans on the night but asides that, their very impressive performance has seen them maintain a perfect run of five wins from five matches conceding just one goal.Denmark, on the other hand, have only lost once in their journey to the final and coincidentally, that defeat was at the hands of the Netherlands in the group stage. The game ended 1-0 with Sherida Spitse scoring from the penalty spot.However, compared to the Dutch, the Danes have a longer history with the tournament, making it to five semi finals and finally crossing that hurdle on their sixth attempt. Meanwhile, this is the Netherlands only third appearance since they made their debut in 2009.The combination of Lieke Martens, Vivienne Miedema and Shanice van de Sanden for the Oranje have been a constant threat to opponents. Then there is Sari van Veenendaal who has been solid in between the sticks for the hosts.For the Danish side, Captain Pernille Harder has indeed been leading by example. Nadia Nadim and Stine Larsen are two other key players that have also helped them come this far. Their victory over eight-time Champions Germany is also expected to come in handy as some form of inspiration.Time for the final is 17:00 CET and there would be a sold-out crowd to witness the showpiece.RelatedUEFA Women’s Euro Quarter-final Preview: Will Austria’s Fairytale Run ContinueJuly 29, 2017In “UEFA”UEFA Women’s Euro 2017: Favourites Falter As Underdogs March OnJuly 31, 2017In “Europe”Oranje: The New Colour Of Love In The NetherlandsAugust 8, 2017In “Europe”last_img read more