Business

Warren Buffett plowed $5 billion into Bank of America during the debt crisis. Here's the story of how the investor helped the bank and made a fortune in the process

14 days ago   |   By Business Insider

Summary List Placement
Warren Buffett invested $5 billion in Bank of America in August 2011, providing a crucial vote of confidence and cash cushion to the struggling lender.
The famed investor and Berkshire Hathaway CEO had the idea to invest while taking a bath, and was initially blocked by a call-center worker before getting through to Bank of America CEO Brian Moynihan.
The pair signed a deal within 24 hours that centered on Berkshire receiving preferred shares and stock warrants in exchange for its cash.
Berkshire exercised the warrants in 2017 and covered the cost by redeeming its...
Read more ...

 

Warren Buffett plowed $5 billion into Bank of America during the debt crisis. Here's the story of how the investor helped the bank and made a fortune in the process

Warren Buffett plowed $5 billion into Bank of America during the debt crisis. Here's the story of how the investor helped the bank and made a fortune in the process

14 days ago   |   By Business Insider

Summary List Placement
Warren Buffett invested $5 billion in Bank of America in August 2011, providing a crucial vote of confidence and cash cushion to the struggling lender.
The famed investor and Berkshire Hathaway CEO had the idea to invest while taking a bath, and was initially blocked by a call-center worker before getting through to Bank of America CEO Brian Moynihan.
The pair signed a deal within 24 hours that centered on Berkshire receiving preferred shares and stock warrants in exchange for its cash.
Berkshire exercised the warrants in 2017 and covered the cost by redeeming its...
Read more ...

 




American Medical Association slams Trump's claim that doctors are making...

American Medical Association slams Trump's claim that doctors are making money from listing COVID-19 as cause of death, as cases continue to climb

Summary List Placement The American Medical Association hit back on Friday after President Donald Trump falsely suggested doctors are inflating COVID-19 death counts for money... Read more ...

Twitter allows New York Post account to tweet again after contested Hunter...

Twitter allows New York Post account to tweet again after contested Hunter Biden story led the company to update hacked materials policy

Summary List Placement Twitter announced Friday that the New York Post's Twitter account can now tweet again, reversing previous enforcement action it had taken against the... Read more ...

How to add OneDrive to the File Explorer in Windows 10, so that you always...

How to add OneDrive to the File Explorer in Windows 10, so that you always have access to your saved files

Summary List Placement Over the last few years, Microsoft has tightly integrated OneDrive , its cloud storage service, into Windows. Using OneDrive used to be a cumbersome pain... Read more ...

Apple warns lower App Store fee will 'materially' impact financial results

Apple warns lower App Store fee will 'materially' impact financial results

Apple admits that the App Store does in fact make it a lot of money. What you need to know Apple warned investors about the impact of App Store fee changes. The company... Read more ...

Google Cloud's earnings show that it's in 'investment mode' and gearing up...

Google Cloud's earnings show that it's in 'investment mode' and gearing up for even stronger growth, analysts say

Summary List Placement Google Cloud grew 45% year-over-year and generated over $3.4 billion in revenue in Q3, the company announced Thursday, along with the news that it plans... Read more ...

Rays decline Charlie Morton's option in free-agency shakeup

Rays decline Charlie Morton's option in free-agency shakeup

Just days after the Rays saved Charlie Morton to start a potential Game 7 of the World Series, Tampa Bay is letting the two-time All-Star hit the open market. The American... Read more ...

A federal judge just blocked President Trump's nationwide TikTok ban, citing...

A federal judge just blocked President Trump's nationwide TikTok ban, citing the administration's 'hypothetical' national security concerns

Summary List Placement A federal judge just blocked President Trump's nationwide TikTok ban, saying that his national security concerns were "hypothetical." The injunction was... Read more ...

How your drink of choice is linked to who you're voting for in 2020

How your drink of choice is linked to who you're voting for in 2020

Summary List Placement In a campaign between two teetotalers, Americans' preference of alcoholic beverages can say something about their choice for president. A series of... Read more ...

If Biden wins the 2020 presidential election, he may have suburban women to...

If Biden wins the 2020 presidential election, he may have suburban women to thank

Summary List Placement With four days until Election Day, it appears that the suburbs have neither broken for Democratic nominee Joe Biden nor President Donald Trump. But... Read more ...

Insider poll: Your travel history is linked to who you're voting for in 2020

Insider poll: Your travel history is linked to who you're voting for in 2020

Summary List Placement Whether Americans have lived in more than one state, been outside the country, or not traveled much is linked to who they're voting for in the 2020... Read more ...