For the first time ever, normally passive investor Warren Buffett is taking a fight to this company’s board

For the first time ever, normally passive investor Warren Buffett is taking a fight to this company’s board

In a unprecedented move, Warren Buffett rebuked building materials company USG and said he voted against its board of directors slate. The billionaire investor explained it was due to the company’s unwillingness to sit down and negotiate with Germany-based Gebr. Knauf KG’s over the company’s takeover bid for USG. Knauf had offered to buy USG for $42 per share on Mar. 15. “We did not think the [USG’s] directors were essentially doing their job. We…

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Elon Musk defends his strange conference call performance, says analysts were trying to ‘justify their Tesla short thesis’

Elon Musk defends his strange conference call performance, says analysts were trying to ‘justify their Tesla short thesis’

Tesla chief executive Elon Musk took to Twitter early Friday to defend his peculiar behavior on an earnings conference call that caused shares of the electric car maker to lose more than 5 percent. “The ‘dry’ questions were not asked by investors, but rather by two sell-side analysts who were trying to justify their Tesla short thesis,” Musk tweeted. “They are actually on the *opposite* side of investors. HyperChange represented actual investors, so I switched…

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Warren Buffett: Obsessing over iPhone X sales in the near term ‘totally misses the point’ on Apple’s stock

Warren Buffett: Obsessing over iPhone X sales in the near term ‘totally misses the point’ on Apple’s stock

Billionaire investor Warren Buffett said long-term investors of Apple stock shouldn’t be concerned with near-term iPhone sales. “The idea that you’re going to spend loads of time trying to guess how many iPhone X or whatever may be are going to be sold in a 3 month period totally misses the point,” the Berkshire Hathaway chairman and CEO said in a “Squawk Box” interview that aired Friday. Buffett revealed he bought an astounding 75 million…

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Brink’s truck spills $600,000 in cash on an Indianapolis highway, and drivers scooped it up

Brink’s truck spills $600,000 in cash on an Indianapolis highway, and drivers scooped it up

There was hardly a cloud in the sky over Indianapolis on Wednesday morning when it started raining money. In a moment that instantly tested the core of human morality, the definition of right and wrong, and the limits of acceptable risk, the back door of a Brink’s armored truck swung open during rush hour on Interstate 70, blowing bags of cash onto the highway. There was money — $600,000, troopers estimated — everywhere. Some bags…

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Hawaii’s Kilauea Volcano erupts, forcing evacuations

Hawaii’s Kilauea Volcano erupts, forcing evacuations

The Kilauea Volcano on Hawaii’s Big Island came to life on Thursday, belching ash into the sky and spewing fountains of lava in a residential area where people were ordered to leave their homes, officials said. The eruption occurred after a series of earthquakes on the island over the last couple of days, including a 5.0 tremor at about 10:30 a.m., the U.S. Geological Survey reported on its website. Residents in the Puna community of…

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Nobel literature prize postponed for 2018 following sexual misconduct scandal

Nobel literature prize postponed for 2018 following sexual misconduct scandal

No Nobel Prize for literature will be given this year, following a scandal over sexual misconduct allegations that has seen a string of board members resign from the board of the Swedish Academy that awards it, the Nobel Foundation said on Friday. The foundation said in a statement the intention was to award the 2018 prize next year, along with that year’s prize. Free America Network Articles

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Lebanese are having their first parliamentary elections in 9 years — and they’re not impressed

Lebanese are having their first parliamentary elections in 9 years — and they’re not impressed

Voters will head to the polls across Lebanon Sunday to choose their parliament for the first time in nine years, after prolonged political gridlock and three vote postponements. But they’re not particularly optimistic about it. Since its last election, Lebanon has been engulfed by a refugee crisis which has seen more that 1 million displaced Syrians stream over its borders, overwhelming the country of just 4 million. It suffered an ongoing waste management crisis during…

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US reportedly lays down a list of trade demands to China

US reportedly lays down a list of trade demands to China

The U.S. stands ready to impose further trade tariffs on Chinese products if Beijing walks away from agreed-upon commitments, according to a reporter at the Wall Street Journal. Trade representatives from the U.S. and China entered a second day of trade discussions on Friday, as the world’s two largest economies sought to find a way to stave off global concerns of a full-blown trade war. The discussions, led by Treasury Secretary Steven Mnuchin and Chinese…

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Xerox says its CEO and board will stay after an agreement with Icahn and Deason expires

Xerox says its CEO and board will stay after an agreement with Icahn and Deason expires

Xerox Corp said on Thursday its current board and management team, which included Chief Executive Jeff Jacobson, will stay, after a settlement agreement it had reached with dissenting shareholders to oust them expired. Xerox had said on Tuesday its CEO and most of its board will step down to settle a lawsuit by activist shareholders Carl Icahn and Darwin Deason, handing over to new management which will reconsider a controversial deal with Japan’s Fujifilm Holdings….

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Societe Generale first-quarter results take a hit from low volatility in Europe and new regulation

Societe Generale first-quarter results take a hit from low volatility in Europe and new regulation

Societe Generale reported first-quarter net income that beat market expectations Friday, but the French bank highlighted two major headwinds that led to disappointing revenue numbers across different divisions. Here are the highlights: Revenues: 6.2 billion euros ($7.4 billion) in the first quarter of 2018; vs. 6.48 billion expected in a Reuters poll of analysts. Operating income: 1.3 billion euros ($ 1.56 billion) in the first quarter of 2018, vs. 1.2 billion euros in the first…

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