Decision Making

Buffett says Berkshire sold its entire Paramount stake: 'We lost quite a bit of money'

Warren Buffett revealed that he dumped Berkshire Hathaway's entire Paramount stake at a loss.

"I was 100% responsible for the Paramount decision," Buffett said at Berkshire's annual shareholder meeting. "It was 100% my decision, and we've sold it all and we lost quite a bit of money."

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FTC accuses ex-Pioneer CEO of colluding with OPEC, blocks him from Exxon board seat

• The Federal Trade Commission alleges that former Pioneer Natural Resources CEO Scott Sheffield held private conversations with OPEC officials assuring them the company would keep oil output low.
• Sheffield was barred from serving on the Exxon board after the deal closes, which Exxon expects to happen Friday.
• The federal regulator has decided to refer the allegations to the Justice Department for a potential criminal investigation, people familiar with the matter told The Wall Street Journal.

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Our pick of business news for this week

Weekly Roundup week of April 28 2024- May 04 2024