Warren Buffett offers Donald Trump some advice while celebrating Berkshire Hathaway’s success
OMAHA, Neb. (AP) — Warren Buffett is celebrating the successes of Berkshire Hathaway’s companies last year and in the 60 years since he took over a struggling New England textile company and began converting it into a massive conglomerate. Buffett opened his annual letter to shareholders Saturday by acknowledging that he has occasionally made mistakes over the years without offering many specific examples. But he assured shareholders that the man he has chosen to one day succeed him as CEO, Greg Abel, isn’t one of them. Buffett also offered some subtle advice for President Donald Trump by urging Uncle Sam to be responsible with the $26.8 billion in income taxes Berkshire paid last year and take care of the many who get a short straw in life.
Dow falls nearly 750 points and US stocks tumble as businesses and consumers worry about tariffs
NEW YORK (AP) — U.S. stocks fell sharply after reports showed that worries among consumers and businesses about President Donald Trump’s policies may be hitting the economy. The S&P 500 sank 1.7% Friday for its worst day in two months. The Dow Jones Industrial Average dropped 1.7%, and the Nasdaq composite tumbled 2.2%. One report suggested U.S. business activity is close to stalling, with optimism slumping because of worries about tariffs and other potential policies from Washington. Reports on consumer sentiment and home sales also came in weaker than expected. Akamai Technologies weighed on the market after giving financial forecasts that fell short of expectations. Treasury yields fell.
Thieves used a stolen card to buy a $523,000 lottery ticket. The victim wants to share the winnings
PARIS (AP) — Thieves used a stolen card to buy a winning French lottery ticket worth 500,000 euros or $523,000. But they vanished before cashing in. And now they’re among France’s most famous fugitives. The man whose card was stolen is offering to split the cash with the lucky winners. Prosecutors could try to seize the winnings by considering them illegally obtained gains. The thieves meanwhile face the risk of arrest if they turn in the ticket. The victim’s lawyer has launched a national appeal asking them to come forward so that they can share the money. France’s state lottery operator said that no one had submitted the ticket to cash out as of Saturday.
1,000 Bulgarian nationalists protest against government plans to adopt euro currency
SOFIA, Bulgaria (AP) — Police in Bulgaria’s capital have clashed with nationalist protesters who demanded that the government scrap plans to bring the country into the eurozone. About 1,000 protesters gathered in front of the Sofia office of the European Commission and began throwing red paint and firecrackers at the building. A door was eventually set ablaze. Firefighters were dispatched to the scene as well as police reinforcements who pushed back the protesters. Police said that several protesters had been arrested while some officers were injured during the clashes.
Leading contenders make their final appeals to German voters before a landmark election
BERLIN (AP) — The contenders in Germany’s election are making their final appeals to voters. The opposition leader and front-runner vowed Saturday to revive the stagnant economy and defend Europe’s interests in the face of a confrontational U.S. administration. Chancellor OIaf Scholz insisted that he still hopes for an improbable last-minute comeback. Germans are electing a new parliament Sunday after a campaign focused on the state of Europe’s biggest economy and calls to curb migration. Uncertainty has grown rapidly about the future of Ukraine and the strength of Europe’s alliance with the United States.
Shopping mall roof collapse in northern Peru leaves 6 dead, 78 injured
LIMA, Peru (AP) — Peru’s defense minister says the collapse of a food court roof at a shopping mall in northwestern Peru killed six people and left at least 78 others. The heavy iron roof at the Real Plaza Trujillo shopping mall fell Friday night on dozens of people who were at the site. The head of the local fire department confirmed that they “did not find any signs of life” as they monitored with rescue dogs but that the search for survivors would continue. Defense Minister Walter Astudillo said at a news conference on Saturday that five people died on site and a sixth at a hospital after the collapse.
Trump says he may take control of the US Postal Service. Here’s what to know
PHILADELPHIA (AP) — President Donald Trump says he may put the U.S. Postal Service under the control of the Commerce Department in what would amount to an executive branch takeover of the independent agency. Trump made the remarks Friday at the swearing-in of Commerce Secretary Howard Lutnick. He called the move a way to stop losses at the $78 billion-a-year agency, which has struggled to balance the books with the decline of first-class mail. The Post Office was created during the Second Continental Congress in Philadelphia in 1775, when Benjamin Franklin became the first postmaster general. In recent years, the Postal Service has fought calls from Trump and others that it be privatized.
Warren Buffett offers lessons on investing in his annual Berkshire Hathaway letter
OMAHA, Neb. (AP) — Billionaire Warren Buffett is viewed as one of the world’s greatest investors, so his annual letters to Berkshire Hathaway shareholders are always read closely for lessons. Buffett no longer ventures much into politics or current events in his letters, so he won’t offend anyone who might take it out on his many companies that include well-known ones like Geico insurance, Dairy Queen and Helzberg jewelry. But Buffett’s latest letter released Saturday does offer insights into investing and some lessons from his six decades at the helm of Berkshire. Buffett said America will continue to prosper over time and Berkshire will keep investing in companies and stocks to profit.
Luigi Mangione draws crowd for first court hearing since arraignment in UnitedHealthcare CEO killing
NEW YORK (AP) — The man accused of gunning down UnitedHealthcare’s CEO has appeared in court for the first time since his arraignment on state murder and terror charges. Luigi Mangione attended a hearing Friday in a bulletproof vest and shackles that the judge said were safety precautions. The hearing attracted throngs of supporters for Mangione, who has become something of a cause célèbre for people upset with the health insurance industry. Judge Gregory Carro set another hearing for June 26 but did not schedule a trial date. The maximum sentence for the state charges is life in prison without parole.
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