Month: October 2020

Unemployment claims are down. It’s not all for good reasons

The number of workers receiving and applying for unemployment benefits declined significantly last week, according to Labor Department figures issued Thursday. That’s good news for workers and the U.S. economy — thousands of people are returning to work and coming off unemployment rolls. But the headline numbers don’t give the full picture. Some labor-market dynamics…
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Huawei’s nine-month revenue growth slows as U.S. restrictions bite

China’s Huawei Technologies Co Ltd reported a 9.9% rise in nine-month revenue on Friday, as U.S. export restrictions and the global COVID-19 pandemic weakened sales growth in products such as smartphones and telecoms equipment. Revenue reached 671.3 billion yuan ($100.44 billion) over January-September, it said in a statement, without providing a segment breakdown. Revenue grew…
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Indonesia Establishes First Esports Governing Body

Jakarta. Indonesia officially launches its first Esports Association on Saturday to nurture professional gamers and introduce regulations for a potential domestic league.  The newly-established board of executives is chaired by National Intelligence Agency head Budi Gunawan, who immediately expressed his goal to set up a world-class training center. “We have a lot of works to…
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Warren Buffett-backed Chinese car maker announces strong demand for its new luxury electric sedan

BEIJING — Demand for luxury electric sedans is on the rise in China. In just over two months, orders for the “Han” line of electric cars from BYD — a Chinese automaker backed by billionaire Warren Buffett — have topped 40,000, the company disclosed at the Beijing auto show this past weekend.  The luxury sedan was announced…
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This mutual fund may have cracked the ‘Buffett Code’ — Berkshire Hathaway’s secret sauce

For the 55 calendar years from 1965 through 2019, Berkshire Hathaway’s stock rose at an 18.6% annualized pace, versus 11.8% for the S&P 500 SPX, -1.15%  . (Both returns reflect reinvested dividends.) Warren Buffett can take credit for this, and he appears to be very much in charge of Berkshire. But, given that he just…
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