Buffett divests stake in General Electric
Warren Buffett's Berkshire Hathaway Inc
New York - AFP
Warren Buffett's Berkshire Hathaway has sold off its stake in General Electric, according to US regulatory papers filed Monday.
Berkshire had previously held 10.4 million shares in the US industrial giant, according to earlier securities filings.
But GE was no longer listed among the 20 or so Berkshire stakes, according to the company's filing with the Securities and Exchange Commission.
Shares of General Electric are down nearly 20 percent thus far in 2017, a stark underperformance compared with the index, which has risen more than 11 percent.
GE has been hurt by weakness in its oil and gas business.
The company in June announced that longtime chief executive Jeff Immelt was retiring and would be replaced by GE veteran John Flannery. But a disappointing outlook during the company's July earnings conference call further pressured shares.
As Berkshire Hathaway exited GE, it added a 17.5 million share stake in Synchrony Financial, a credit card company spun out of GE in 2015.
Shares in GE dipped 0.4 percent in after-hours trading to $25.27, while Synchrony rose 4.4 percent to $30.95.
GMT 13:21 2018 Thursday ,06 December
China demands Canada release Huawei's chief financial officerGMT 16:16 2018 Sunday ,07 October
Yemeni rebels seize 10 cargo vessels, oil tankersGMT 13:31 2018 Tuesday ,25 September
Gaza collapse put Palestinian basic needs at riskGMT 18:43 2018 Thursday ,20 September
Russian PM does not rule out expansion of trade warsGMT 08:09 2018 Tuesday ,23 January
French court throws out tax fraud case against JP MorganGMT 08:52 2018 Wednesday ,17 January
EU parliament calls for ban on electric pulse fishingGMT 09:20 2018 Tuesday ,16 January
Strikes as Greece adopts industrial action revampGMT 04:50 2018 Saturday ,13 January
Greece strikes cause transport chaos, healthcare delays
Economic conference on investment opportunities in Syria kicks off
Bucharest - SANA
With the participation of 120 representatives of Romanian companies, Chambers of Commerce and industry, An economic conference on “Reconstruction in Syria between the development of economic steadfastness and the opportunities ofRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launched from the Baikonur CosmodromeLiverpool, Manchester City seek neighbours' help in title chase
London - DPA
Liverpool and Manchester City will be looking for a little help from their not-so-friendly neighbours this weekend. The Premier League front-runners face each other's local rivals when City host Everton and Liverpool take on Manchester United. Liverpool jumped above City at theBlue light in smartphones linked to blindness and some cancers
Spain - DPA
Ever since we have started to become chained to our smartphones and tablets, people have been saying that the waves coming off these devices must be bad for us. So often laughed off as conspiracy theorists, it now looks more and moreFestive Fashion by Dubai-based designer ASMARAÏA
Dubai - Arab Today
Dubai-based label ASMARAÏA just launched its pre-fall 2019 collection — and it’s all about cruelty-free, sustainable fashion with a festive edge. Checkmate The 15-piece collection features this checkered skirt-and-jacket ensemble that is giving us major “Clueless” vibes. Gold Rush ‘Tis the season to sparkle and this dazzling, floor-length gold skirt will do the trick. Take note of the chic black bow detail at the waist — it’s the ultimate party look. Feathered fashion The brand works with environmentally-friendly materials such as organic cotton, recycled polyester and faux fur, so you can be sure this feathered look doesn’t come at the cost of an animal’s life. Jewel Tones If you want to glisten like a polished jewel at your next festive function, this emerald-colored skirt is the perfect choice with its sequin details and shimmery overlay. Golden Girl Leopard print
GMT 14:42 2018 Sunday ,18 November
Amman stock market wraps up Sunday's trading at JD6.5 millionGMT 15:56 2013 Thursday ,31 January
Business with pleasure
GMT 05:00 2017 Monday ,02 October
Women on trial for Kim Jong-Nam murder plead not guilty
GMT 08:43 2017 Friday ,17 November
Bulldog Skincare For Men launches Age Defence Range
GMT 16:22 2018 Sunday ,18 November
Dongfeng Honda recalls vehicles in China over faulty sunroofs
GMT 14:51 2017 Sunday ,12 February
Former Chilean top army commander investigated for collection of cars
GMT 21:42 2017 Friday ,08 December
Al Masly: country’s market attractive
GMT 10:16 2015 Sunday ,25 October
Robot adapts speech to get your attention
GMT 16:47 2017 Friday ,08 September
Pakistan not to take brunt of others fiasco: Air Chief
GMT 06:10 2017 Tuesday ,07 March
Cultural gems that are part of world heritage
GMT 10:27 2015 Monday ,06 July
Mini to launch ‘Clubman’ in 2016
GMT 23:23 2017 Wednesday ,19 July
S. Korean defense chief vows stronger alliance with US
GMT 08:28 2017 Saturday ,29 April
Britain steps up fight against dirty London property
GMT 07:05 2017 Monday ,06 November
Young Engineers in the Making at SIBF 2017
GMT 17:05 2017 Saturday ,07 October
Formula One: Hamilton one of best all time, says Wolff
GMT 10:25 2017 Thursday ,14 September
Greece fumbled oil spill response
GMT 04:46 2017 Wednesday ,01 November
Sony forecasts record profits, scores Spider-Man movie hit
GMT 10:21 2017 Thursday ,26 October
US Congress passes $36.5 bn
GMT 20:19 2017 Wednesday ,16 August
Uber bows to Philippines suspension
GMT 04:28 2017 Thursday ,23 February
OPEC daily basket price announced for Monday, 20th February, 2017
GMT 11:29 2017 Sunday ,12 February
10 home remedies to cure varicose veins
GMT 08:51 2018 Monday ,03 December
Israeli forces arrest 24 Palestinians in West Bank
GMT 18:49 2018 Thursday ,18 October
Globalized violence on social media helped spawn Kerch shooting "Putin"
GMT 12:28 2018 Saturday ,13 October
Russia and Egypt ready to take their multifaceted partneship to new level "Lavrov"
GMT 15:00 2018 Monday ,01 October
"Iran’s choice" Between Syria and Pakistan
GMT 14:13 2018 Friday ,28 September
Kingdom will take major strides with Vision 2030
GMT 16:14 2018 Wednesday ,26 September
Paris Fashion Week opens with models walking on water, strutting on the runway
GMT 16:55 2018 Thursday ,20 September
Liev Schreiber harassment charge dismissed "New York judge"
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor