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 13:12 2016 Tuesday ,15 November
Aerosmith announces Europe 'farewell' tour
GMT 11:13 2017 Wednesday ,05 April
How Britain became an island
GMT 12:22 2017 Tuesday ,28 February
Russian air strike ‘accidentally’ kills three
GMT 00:09 2017 Wednesday ,08 March
British child rapist arrested in UAE
GMT 18:33 2017 Friday ,30 June
Kampung Melayu bomb made from triacetone triperoxide chemical
GMT 10:20 2017 Monday ,13 November
MBRSC to host UN-UAE high-level forum
GMT 10:09 2018 Wednesday ,12 December
Lebanese Newspapers' Headlines For 12/12/2018
GMT 14:58 2018 Friday ,30 November
Bahrain press headlines For 30 Nov 2018
GMT 08:37 2018 Saturday ,13 January
Saudi women football fans able to grandstand at lastGMT 12:15 2011 Saturday ,02 July
15 years for kidnapper of British journalist in Iraq
GMT 19:55 2016 Sunday ,24 July
Houthi militias impose tight siege on Yemeni Taez city
GMT 20:32 2017 Sunday ,13 August
Plane makes emergency landing at Cairo airport
GMT 06:41 2017 Thursday ,02 March
King Mohammed VI Holds Phone Conversation with Presisdent of Nigeria
GMT 09:57 2016 Thursday ,24 November
Mortician to Philippines' Marcos reveals trade secrets
GMT 10:58 2017 Saturday ,25 March
London attacker was British-born, known to intelligence services
GMT 11:25 2016 Monday ,03 October
Yoshinori Ohsumi of Japan wins Nobel Medicine Prize
GMT 13:08 2017 Saturday ,11 February
Nigeria probes stashed money in former official's house
GMT 23:47 2017 Monday ,20 March
No place at crowded camps for Mosul displaced
GMT 22:32 2017 Wednesday ,22 February
Kerber moves closer to top ranking comeback in Dubai
GMT 20:47 2017 Friday ,10 March
UNHCR urges international help for Syrian refugees
GMT 15:49 2017 Tuesday ,16 May
’Excess’ car pollution killed 38,000 in 2015GMT 16:17 2011 Saturday ,17 September
Maryam breaking society\'s mould
GMT 16:05 2017 Tuesday ,20 June
Abdul Latif Jameel Motors launches Ramadan Jameel campaign
GMT 13:47 2017 Wednesday ,22 March
Ireland must be ready to shut down Bale
GMT 14:11 2017 Saturday ,25 March
Abdelilah Benkirane Supports Othmani in Managing
GMT 21:09 2017 Tuesday ,14 November
Projects of water, sanitation, hygiene launched under PM
GMT 13:52 2017 Sunday ,12 March
Musk wagers Tesla can quickly fix South Australia power woes
GMT 20:55 2017 Monday ,27 February
Interreligious conference kicks off
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor