Finance

Buffett's Berkshire Hathaway increases its stake in Occidental

Berkshire Hathaway has increased its stake in the U.S. oil company to about 15.2%. According to SEC documents, 5.9 million shares of Occidental were bought Tuesday, worth about $336 million.

Occidental's stock has nearly doubled since the beginning of the year. Among the main factors were large investments by companies like Berkshire and rising oil prices caused by the Ukrainian crisis and the avoidance of Russian crude.

At Berkshire's annual shareholder meeting on April 30, Buffett said he bought Occidental stock from Feb. 28 to March 16, 2022. He also noted that "in the last couple of years, the focus has been on the brighter stocks, which has made the markets look like a casino at times.

ECB tries to save EU economy - central bank will be flexible in reinvesting PEPP program

The pandemic has left persistent vulnerabilities in the eurozone economy that contribute to the uneven normalization of our monetary policy among different countries, the ECB said. The ECB has instructed Eurosystem committees and ECB services to accelerate the development of a new mechanism to combat fragmentation. Why it matters. Rising

Price for oil price cap yet to be determined, head of European Commission

"The EU is ready in principle to go to the oil price cap," von der Leyen added. Earlier, the head of the U.S. Treasury Yellen said that the U.S. is not against the purchase of oil by India above the price cap. The WSJ also reported citing sources

U.S. officials forced to roll back plan to limit Russian oil prices - Bloomberg

India and China - Russia's most important trading partners - will not participate, Bloomberg sources said. The price cap plan is still alive after all. However, the price cap will be higher than previously thought. Earlier, U.S. Treasury Secretary Yellen said the price ceiling could be in the range

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