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Billionaire investor Warren Buffett donated more than $750-million in Berkshire Hathaway stock to the four foundations run by his family Wednesday, but unlike his annual gifts to charity each summer, the recipients didn’t include the Bill & Melinda Gates Foundation. Buffett has been making annual donations to the same five charities every year since 2006 when he unveiled a plan to give away his fortune over time, with the Gates Foundation receiving the biggest donations . Wednesday’s donations mark the first time the 92-year-old has made a second major gift within the same year. A filing with the Securities and Exchange Commission showed Buffett gave 1.5 million Class B shares in the Omaha, Nebraska-based conglomerate he leads to the Susan Thompson Buffett Foundation, named for his first wife. He also gave 300,000 Class B shares apiece to the three foundations run by his children: the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation. In June, he gav...

The Canadian dollar CADUSD weakened against its U.S. counterpart on Thursday as tighter monetary policy globally weighed on investor sentiment and domestic data showed further weakening in the housing market. Shares fell globally after major central banks, including the Federal Reserve and the European Central Bank, delivered their final policy decisions of the year, with the Fed signaling it expected interest rates to stay higher for longer. Canada is a major producer of commodities, including oil, so the loonie tends to be sensitive to shifts in investor sentiment. U.S. crude oil futures were down 0.5 per cent at $76.89 a barrel, weighed by demand concerns. The Canadian dollar was trading 0.4 per cent lower at 1.3605 to the greenback, or 73.50 U.S. cents, after moving in a range of 1.3541 to 1.3632. Canadian home sales declined 3.3 per cent in November from October, data from the Canadian Real Estate Association showed on Thursday, while the national average selling price was down ...

Shares of U.S. banks are taking a beating in December, as worries over an expected recession and weakening profit margins dull the industry’s appeal. The S&P 500 banks index has slumped some 11 per cent this month against a 5.5 per cent drop for the broader index in the same period. Among the hardest hit were shares of Bank of America BAC-N, which have fallen 16 per cent this month. Shares of Wells Fargo & Co WFC-N have slumped about 14 per cent, and those of JPMorgan Chase & Co JPM-N are down over 6 per cent. Signs of pessimism over the economy have crept into asset prices in recent weeks, as investors grow increasingly worried that the Federal Reserve’s most aggressive monetary policy tightening in 40 years – aimed at reducing inflation – will also hamstring growth Treasury yields, which move inversely to prices, have recently tumbled to three-month lows, signalling that growth worries may be pushing investors into bonds. Others have pointed to energy shares, which have...

A Cineworld cinema, near Manchester, Britain, on Oct. 4, 2020. PHIL NOBLE/Reuters Cinema chain AMC Entertainment Holdings AMC-N said on Wednesday it was no longer in talks to acquire some theatres owned by now bankrupt Cineworld Group following initial discussions with some lenders. AMC said the earlier talks were focused on the acquisition of certain theatre assets of Cineworld in the United States and Europe, which would be financed partly through issuance of its preferred stock and debt financing provided by the lenders. AMC in August announced its preferred share APE as a special dividend for shareholders and a means to raise capital in the future. The company listed these shares in New York under the ticker ‘APE’. Shares of AMC rose nearly 2 per cent in trading before the bell, while its preferred shares were up more than 3 per cent. Cineworld shares fell 5 per cent. During the discussions, AMC said Cineworld did not provide any confidential or nonpublic information, analyzes, c...

Tesla CEO Elon Musk attends an opening ceremony for the car maker's China-made Model Y program, in Shanghai, on Jan. 7, 2020. Aly Song/Reuters Tesla Inc TSLA-Q shares touched a fresh two-year low in volatile trading on Friday as boss Elon Musk’s promise to not sell his shares for at least two years did little to reassure investors. Musk has offloaded shares worth $40-billion in the world’s most valuable carmaker since late last year, with $15-billion of that coming after he made similar pledges not to sell in April. That, along with concerns about his distraction with newly bought Twitter and a slowdown in China’s economy, have set the electric-car maker’s shares on course for their worst year since going public in 2010. The stock was last down 1.2 per cent on Friday, after falling as much as 3.5 per cent earlier to its lowest since September 2020. “I won’t sell stock until I don’t know probably two years from now. Definitely not next year under any circumstances and probably not...

The Canadian dollar CADUSD weakened against its U.S. counterpart on Thursday as tighter monetary policy globally weighed on investor sentiment and domestic data showed further weakening in the housing market. Shares fell globally after major central banks, including the Federal Reserve and the European Central Bank, delivered their final policy decisions of the year, with the Fed signaling it expected interest rates to stay higher for longer. Canada is a major producer of commodities, including oil, so the loonie tends to be sensitive to shifts in investor sentiment. U.S. crude oil futures were down 0.5 per cent at $76.89 a barrel, weighed by demand concerns. The Canadian dollar was trading 0.4 per cent lower at 1.3605 to the greenback, or 73.50 U.S. cents, after moving in a range of 1.3541 to 1.3632. Canadian home sales declined 3.3 per cent in November from October, data from the Canadian Real Estate Association showed on Thursday, while the national average selling price was down ...