Warren Buffett‘s Berkshire Hathaway is finally pulling the trigger. The conglomerate is spending $4 billion to buy the natural gas transmission and storage assets of Dominion Energy. Including the assumption of debt, the deal totals almost $10 billion. It’s the first major purchase from Berkshire since the coronavirus pandemic and subsequent market collapse in March.
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Main Thesis The purpose of this article is to evaluate the PIMCO High Income Fund (PHK) as an investment option at its current market price. This is a fund I have avoided for years, despite regularly buying and recommending other PIMCO CEFs. As we move into the second half of 2020, I continue to see
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Fracking giant Chesapeake Energy’s bankruptcy filing comes following a financial mess at the company that included no budgets, a massive wine collection and a nine-figure bill for parking garages, sources told CNBC’s David Faber. CEO Robert D. “Doug” Lawler found in examining the company’s books a $110 million bill for two parking garages, Faber reported
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Take a look at some of the biggest movers in the premarket: McDonald’s (MCD) – McDonald’s halted further reopenings of dine-in service at its restaurants, postponing them by three weeks due to a rise in Covid-19 cases. Restaurants, where dine-in service had already resumed, will be allowed to continue offering it if their local jurisdictions
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Tourists pass by a homeless man sitting on Hollywood Blvd, Hollywood, California on June 12, 2020. Mark Ralston | AFP | Getty Images Eviction moratoriums nationwide are set to expire later this month, potentially thrusting tens of thousands of people into a housing crisis.  Congress in March passed a federal mandate prohibiting evictions or foreclosures
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BlackRock’s global chief investment strategist said after the market’s strong gains, he is more cautious on U.S. stocks into the second half of the year because of risks of fading fiscal stimulus and potential election volatility. BlackRock Investment Institute, in its second half outlook, said it retains equities at neutral, or benchmark weight in portfolios.
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2-8a Rutland Gate in Knightsbridge was bought by a Hong Kong investor for $264 million Beauchamp Estates London’s prime housing market is seeing strong interest from Hong Kong and mainland Chinese buyers, with real estate agents reporting above-average levels of investment. London-based estate agency Beauchamp Estates reports that over the past 6 months it has sold
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Signage stands outside the Freddie Mac headquarters in McLean, Virginia, U.S., on Monday, May 11, 2020. Andrew Harrer | Bloomberg | Getty Images The number of borrowers in government and private sector coronavirus-related mortgage bailouts just fell by the largest weekly volume since these plans were put in place. There are, however, warning signs that
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The non-agency MBS sector has gone through a roller-coaster ride in the last few months due to heavy sell-downs by leveraged players and a subsequent snapback in demand by value hunters. We remain overweight the sector on the service due to continued sector demand, fiscal support of households and a decent housing price backdrop. In
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An artist’s rendering of a Momentus Vigoride transfer vehicle deploying satellites in orbit. Momentus A space startup offering a “last mile delivery” service for spacecraft is continuing its deal spree this year, becoming an increasingly important player in the growing small satellite market. Momentus, a Santa Clara, California-based company, has so far struck $40 million
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Aerial view of the home of Ghislaine Maxwell in Bradford, New Hampshire. NBC News Ghislaine Maxwell, the accused procurer for dead convicted sex criminal Jeffrey Epstein, was arrested Thursday at a New Hampshire home purchased for $1 million last December by a “legal entity” The entity was created after the homeowner’s real estate agent balked
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The public agency that manages St. Louis public transit hits the market as soon as Tuesday with a refunding to ease near-term COVID-19-induced revenue strains. The Missouri-Illinois Metropolitan Bi-State Development Agency is selling $171 million of combined lien mass transit sales tax appropriation refunding bonds including $13 million of tax-exempts and $158 million of taxables.
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As you can see in the following chart, the United States Natural Gas Fund (UNG) has seen a bit of a rally over the past week in line with a surge in the commodity, after several months of losses. This has been a very trying year for long traders in this natural gas ETF as
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Focqus, LLC | iStock | Getty Images New monthly data from apartment rental platform Zumper shows San Francisco rents were down nearly 12% year over year in June, making the city’s decline the largest in the nation, and a record slide for San Francisco.  It’s also the second consecutive month San Francisco rental prices have
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