Money

Many investors are increasingly hesitant to hold shares of oil and gas companies as a global energy transition gathers steam. Not Warren Buffett. What’s happening: Buffett’s Berkshire Hathaway just disclosed a new stake in Chevron, the second largest oil firm in the United States. The $4.1 billion investment could have been spearheaded by Berkshire investment

Burger King doesn’t want to come out a loser in fast food’s chicken sandwich wars. So it’s planning an upgrade. The chain said Wednesday that it is replacing its current crispy chicken sandwich with a new, hand-breaded version. The new product, which comes in original or spicy, is made with a savory signature sauce and

Nestlé will sell its North American bottled water business, including Poland Spring, Deer Park, Ozarka and Arrowhead, in a $4.3 billion deal as it focuses on its premium brands. The Swiss consumer goods giant said in a statement on Wednesday that it has agreed to sell the brands to private equity firm One Rock Capital

Jeff Bezos has reclaimed his title of world’s richest person, ending Elon Musk’s roughly six-week reign atop the list. Musk lost about $4.5 billion Tuesday after Tesla shares fell 2.4%, which was enough to knock him to second place on the Bloomberg Billionaires Index ranking. Bezos’ net worth also fell as the broader stock market

It appears that Warren Buffett is souring on the financial sector’s prospects, and that the Oracle of Omaha also has a newfound interest in Big Oil, as well as telecom and media. He also bought stakes in Dow components Chevron and Verizon in the fourth quarter of last year. Buffett’s Berkshire Hathaway on Tuesday disclosed

Even mighty Texas, the energy powerhouse of America, is feeling the wrath of Mother Nature. A deep freeze this week in the Lone Star state, which relies on electricity to heat many homes, is causing power demand to skyrocket. At the same time, natural gas, coal, wind and nuclear facilities in Texas have been knocked

Sony’s PlayStation 5 has been hugely popular — and hard for consumers to get their hands on — since it was released last fall. But not everyone who managed to snag one has been satisfied. A class action lawsuit accuses Sony of violating consumer fraud statutes and breaching warranty agreements because of an alleged defect

SpaceX delivered its 19th large batch of Starlink internet satellites into orbit on Monday evening, but in a rare misstep, the first-stage rocket booster used to launch those satellites missed its landing target. The failed landing was the first time in about a year that SpaceX has lost one of its Falcon 9 rocket boosters,

Ford is shutting its Kansas City assembly plant, which makes its best-selling F-150 pickup, because of a shortage of natural gas caused by severe winter weather hitting much of the country. “To ensure we minimize our use of natural gas that is critical to heat people’s homes, we decided to cancel operations for a week,

Chinese cinemas are back in business and selling even more tickets than before the pandemic. Local box office takings over the start of the Lunar New Year holiday have already surpassed those of the same period in 2019, despite some restrictions on theater occupancy. The increase gives China another lift after it overtook the United

Adidas says it will offload struggling US fitness brand Reebok as part of a strategic overhaul. The German sportswear company said in a statement on Tuesday that it has decided to begin a formal process “aimed at divesting Reebok” following a review of the business that it announced late last year. “Reebok and Adidas will

At this point, there’s nothing particularly special about a fast food chain announcing a new fried chicken sandwich. So, McDonald’s is hoping to differentiate the upcoming launch of theirs with limited edition collection of clothing and music. McDonald’s will sell a limited number of $5 swag packages via a special website on Thursday. The swag

Bitcoin topped $50,000 Tuesday, continuing a stunning rise that has sent it soaring about $20,000 this year. The digital currency hit a record $50,602.53 before pulling back somewhat. Bitcoin is still up about 2% over the past 24 hours, and has rallied nearly 260% since the beginning of November. Investors have sent the price of

The carmakers at the heart of Germany’s huge manufacturing industry are facing a new threat: border checks that could delay crucial parts deliveries and force their factories to close. Truck drivers have experienced lengthy delays after Germany introduced stronger Covid-19 checks and immigration rules at its borders with Austria, the Czech Republic and Slovakia on