Yahoo News

Inflation is the main economic and political concern right now. Before Russia invaded Ukraine on Feb. 24, it was possible inflation would peak early in 2022, then ease as supply chain kinks unwound and consumers returned to normal spending patterns. Russia’s barbaric war on Ukraine changed that equation, sending oil and gasoline prices soaring as a major source of world energy supply suddenly looked endangered. Russia is the world’s third largest supplier of oil and natural gas, and… Source link

Warren Buffett is right to be devouring shares of oil giant Occidental Petroleum (OXY), says one long-time oil markets strategist. The billionaire investor’s Berkshire Hathaway (BRK-A, BRK-B) scooped up another 18.1 million shares of Occidental for close to $1 billion this week. The latest purchases come hot on the heels of Berkshire spending $6 billion or so in the prior two weeks to buy up Occidental shares. Berkshire now owns nearly 14.6% of Occidental Petroleum through his roughly 140… Source link

Our team is dedicated to finding and telling you more about the products and deals we love. If you love them too and decide to purchase through the links below, we may receive a commission. Pricing and availability are subject to change. No matter what you’re looking to buy, there’s a really great woman-owned business out there that can help you out. Want stylish cookware? Check out Our Place. Shopping for timeless jewelry? Mejuri has you covered. Need a moisturizing hand sanitizer? Stock up… Source link

Main Street banking is poised to see the best growth since the 1980s, when Madonna and Michael Jackson were on MTV, Ronald Reagan was in office, and everyone had long hair and wore neon attire. And Bank of America (BAC) will be the biggest winner. That’s according to Wells Fargo analyst Mike Mayo, who told Yahoo Finance Live on Thursday that traditional banking revenue will grow the same way it did in the 1980s, creating a boom for the industry in the next three years. Moreover, BofA stands… Source link

Russia’s recent decree essentially legalizing intellectual property theft leaves brands like McDonald’s (MCD) and Starbucks (SBUX) with no legal recourse if copycat businesses use the brands as their own. Over the past two weeks, Russian officials have stripped away IP rights from U.S. companies doing business in Russia, along with foreign companies from 23 other “unfriendly” territories. As a result, companies like McDonald’s and Starbucks that have left Russia to protest its invasion of… Source link

With inflation setting a new 40-year high for the month of February, the Federal Reserve looks to pump the brakes on surging prices with the first rate increases since 2018. In light of these inflationary pressures, Lands’ End (LE) CEO Jerome Griffith believes that the outlook for American consumers is optimistic. “I think people are generally concerned about inflation out there. But at the same time, you know, people are still out spending,” he told Yahoo Finance Live. “The resiliency… Source link

GameStop’s ugly fourth quarter and light-on-the-details earnings call are two of the latest examples why shares of video game retailer turned NFT marketplace probably doesn’t deserve to trade at the levels they do, argues one veteran strategist. “This is not a normal investing situation. There is nothing normal about this. So the stock is going to do what it’s going to do. My gut — based on my history of watching stocks like this — is they usually resolve themselves to where they should… Source link

Berkshire Hathaway (BRK-A, BRK-B) CEO Warren Buffett, the 91-year-old Oracle of Investing, has seen just about every type of market. In 1999, at the height of the internet bubble, Buffett warned that investors expected unrealistic returns. In October 2008, the immediate aftermath of the worst financial crisis since the Great Depression, Buffett dismissed concerns about “the long-term prosperity of the nation’s many sound companies.” In turn, Buffett has a phrase that captures exactly what… Source link

Homebuying activity faded in February. Existing home sales declined 7.2% to a seasonally adjusted 6.02 million units in February from a month earlier, according to the National Association of Realtors (NAR). The number of sales was down 2.4% from the same month a year ago. January home sales figures were revised slightly down to 6.49 million from 6.5 million. The results came in much higher than analysts’ expectations of a 6.2% month-over-month decline to 6.1 million units, according to… Source link

Gas prices in the U.S. keep going up and up, and Washington’s Democrats have found a convenient scapegoat for the pain inflicted on American drivers — Big Oil. President Joe Biden says oil companies “shouldn’t pad their profits” while crude oil prices fall. Meanwhile, Democrats are pushing for a windfall tax on oil profits, and industry CEOs may face a grilling in Congress next month. But halfway around the U.S., the Democratic governor of an important oil-producing state has a… Source link