top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.


The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Markets

7 Sept 2021

Warren Buffett’s Berkshire gains $2 billion in BYD Stocks

The Index Today

Berkshire Hathaway, owned by Warren Buffett, has gained $2 billion this year on the BYD stock. This has tremendously boosted the bet value on the Chinese owned electric vehicle company to $8 billion (3,400% gain) in a span of 13 years.
Warren Buffet initially bought 225 million shares for $232 million in the year 2008. The stocks prices have increased by 23%, increasing the total value of Berkshire’s stake by 8% to $7.9 billion. The current valuation of the BYD shares has reached a whopping $5.9 billion according to the latest annual report issues by Berkshire.
The automaker’s shares rose by 8% on Monday after the passenger vehicle sales number were revealed. A total of 261,000 vehicles were sold in the first eight months of this year, more than three times what it sold in the previous year.
125% sales rise has been seen in electric vehicles along with a 485% increase in sales of plug-in hybrids. On the other hand, the company’s sales of gas powered vehicles have dropped by 22%. The company has grown its revenue immensely since Berkshire invested in it.

Clay pottery with table linens
bottom of page