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Warren Buffett’s Company with Nearly $ 40 Billion Profits by June – Companies

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Warren Buffett's Company with Nearly $ 40 Billion Profits by June - Companies

Berkshire Hathaway, the company of American billionaire Warren Buffett, posted a net profit of $ 39,805 million in the first half, offsetting $ 23,451 million in losses recorded over the same period in 2020.

According to figures released on Saturday, the Omaha, Nebraska-based conglomerate has a net income of 33.838 million euros.

Operating income for the January-June period was $ 13,704 million, up 20% from a year ago, and total turnover of $ 133,713 million (up 13%). Berkshire Hathaway improved its results thanks to a gradual recovery in its many areas of activity, from insurance to energy and infrastructure, with large equity investments, but the company continued to point to uncertainty in the presentation of the results.

“The covid-19 pandemic damaged almost all of our operations in 2020, mostly in the second quarter, although the impact varied widely. It is currently impossible to assess the magnitude of the long-term impact, ”the statement said.

In the second quarter, the company posted net profit of USD 28,094 million (approximately EUR 23,880 million), up 7% on the same period last year, with operating income of USD 6,686 million and turnover of 69,114 million (almost 22% more). than a year ago).

Businesses gaining traction over the past three months include train infrastructure, utilities, energy and, to a lesser extent, the real estate sector.

The company noted that by the end of June its investments had increased in market value to $ 307,942 million and that most of it remains concentrated in four listed companies: American Express, Apple, Bank of America and Coca-Cola.

Between March and June, Berkshire Hathaway invested about $ 6 billion in share buybacks and has accumulated $ 12.6 billion for this purpose since the beginning of the year.

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Economy

Emirates increases total number of huge Airbus A380 flights to London to no less than 9

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Emirates increases total number of huge Airbus A380 flights to London to no less than 9


Airbus A380 – Image: Emirates


Emirates announces this Monday, December 5th that it has stepped up its operations at Gatwick Airport, one of the terminals serving London, England, by adding a third daily flight on a large Airbus A380 double-decker aircraft.

The additional operation will offer more than 1,000 seats on the Dubai-Gatwick line every day of the week. Emirates flight EK11 departs Dubai at 02:50, flight EK15 at 07:40 and flight EK09 at 14:25.

In addition to the company’s services at Heathrow Airport, which has six A380s a day, the connection between Dubai and London now has an incredible 9 flights a day on the world’s largest passenger transport aircraft.

Emirates currently serves the UK with 119 weekly flights from seven hubs, including: London Heathrow Airport (A380) six times a day; three times a day to London Gatwick (A380); daily service to London Stansted (B777); three times a day to Manchester (A380); dual daily service to Birmingham (B777); daily flights to Newcastle (B777); and a daily service to Glasgow (B777).

According to Emirates






With a degree in mechanical engineering and postgraduate studies in aircraft maintenance, he has more than 6 years of experience in the field of technical control of aircraft maintenance.


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Socrates, Granadeiro and Bava demand compensation for bad faith litigation from Espírito Santo International

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José Socrates, Enrique Granadeiro and Zeynal Bava are demanding compensation for what is left of the assets of Espírito Santo International (ESI). The Central Civil Court of Lisbon, in which three defendants and five defendants, including Ricardo Salgado, are suspected of causing more than 72 million euros in damage to the GES universe.

Challenging this charge, in addition to a plea of ​​not guilty, the three are asking the court to sentence the insolvent property complex “to pay compensation for the recovery of all costs and restitution for all losses caused by this form of litigation,” the defense stressed. former Prime Minister of the Socialists.

The bankruptcy filing states that since at least 2007, the defendants have been paid “large sums” that turned out to be “illegal and unreasonable counterparties” in defense of the interests of GES, “namely, in the strategy laid out by Ricardo Salgado in defense of the interests of the group in PT ”, but also in the mission to “put an end to the participation of the PT group in the share capital of the operator VIVO” – Luxembourg masters Alain Rukavina and Paul Laplum, managers of insolvent property and authors The process said that this money was transferred “to the detriment of the assets” of ESI and the Group’s offshore companies HPS.

As for the administrators of insolvent property, Granadeiro and Bava were to be paid “for their work contrary to their professional duties and interests of the PT in their positions of authority”, and Socrates, as prime minister, would receive money from the government. Espírito Santo Group “to act in accordance with the strategies identified by Ricardo Salgado for PT to the detriment of the public interest.”

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Apple is preparing a strategy to transfer production from China

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Ilustração Apple na china

Apple is one of the largest companies using factories in China to manufacture its products. However, the American giant is looking to diversify its supply chain even more, given the global situation in China, both in terms of public health and government policy.

The production of the top models of the iPhone 14 Pro and Pro Max has been hit hard by problems at the factories in connection with the measures of the Chinese authorities to combat Covid-19.

Protests are raging in China the likes of which have not been seen in more than 30 years. The zero tolerance policy in the context of the pandemic has caused serious discontent and upheaval in society.

These demonstrations, protests and clashes with the authorities spilled over into factories and the market in general. Beijing, after tightening measures, has already shown that it may have to change its policy regarding the fight against the pandemic.

Apple begins to look to the future outside of China

In recent weeks, Apple has accelerated plans to move some of its production out of China, the dominant country in the supply chain that has created the most valuable company in the world, according to information from people involved in these processes.

The Cupertino-based company has begun asking its suppliers to more actively plan to assemble Apple products in other Asian countries, especially India and Vietnam.

according to InformationApple wants to reduce dependence on Taiwanese factories led by the Foxconn Technology group.

Riots in a place called iPhone City spurred Apple's move. In the giant city of Zhengzhou, China, about 300,000 workers work at Foxconn's iPhone and other Apple products factory.

At one point, the device accounted for 85% of the iPhone Pro lineup, according to analytics firm Counterpoint Research.

The Zhengzhou plant was the scene of violent protests last November. As we can see in the video above, the workers complained about harassment by the authorities to implement a zero tolerance measure to combat the pandemic.

After a year of events that have undermined China's status as a stable manufacturing hub, the unrest means Apple is no longer comfortable with so much of its business tied up in one place, analysts say.

iPhone 14 Pro sales may suffer due to low production

Apple released the iPhone 14 and its sales continued to have a big impact, even breaking records during a volatile time in the smartphone market.

According to Ming-Chi KuoApple's market analyst said fourth-quarter iPhone shipments were about 10 million units below market forecasts made before the Zhengzhou protests.

The high-end iPhone 14 Pro and Pro Max models were particularly hard hit, according to the analyst.

There were protests in Beijing last week against the strict measures against Covid.

Apple and China have enjoyed a relationship for decades that has so far been mostly mutually beneficial. Change won't happen overnight. Apple continues to release new iPhone models every year and also constantly upgrades its iPads, laptops, and other products.

Basically, Tim Cook will have to keep flying the plane by changing the engine.

So if current events warrant thought, Kuo says the Cupertino-based company's goal would be to move 40% to 45% of its iPhone production from China to India. In addition, Vietnam will be able to increase production of other Apple products such as AirPods, Apple Watch and Macbook.

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