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In a speech in South Carolina, former US President Joe Biden declared that he had handed over "the strongest southern border" and "the worlds strongest economy" to incumbent President Donald Trump. "This is not an exaggeration."February 28 – On February 27 local time, Ambassador Fu Cong, Chinas Permanent Representative to the United Nations, stated at the interactive dialogue on the implementation of the UN Future Compact that, against the backdrop of increasing international instability, implementing the Future Compact is of even greater significance for promoting multilateralism, upholding the authority of the United Nations, and improving global governance. China supports the Secretariat in working with member states to translate the vision of the Future Compact into concrete practice, injecting stronger momentum into the cause of world peace and development.The U.S. Deputy Secretary of State expressed support for Pakistans position in the Afghan conflict.A federal judge in Oregon has barred Immigration and Customs Enforcement (ICE) from making unlawful arrests in the state without justifiable cause, arguing that the agency’s “trawling operations” violate “clear and uncontested” laws.On February 28, the Cuban Embassy in the United States released new details regarding an alleged armed infiltration by a US-flagged speedboat for "terrorist purposes." The statement indicated that two boats, not one, departed from Florida. One experienced a technical malfunction en route, and its crew was transferred to the other, ultimately arriving at their destination on the same vessel. Cuban authorities seized 134 magazines and a total of 12,846 rounds of ammunition of various calibers.

HP Surges to A Record 14.8 Percent on Buffett's Disclosure of A $4.2 Billion Investment

Charlie Brooks

Apr 08, 2022 10:00

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HP shares finished at $40.06, up $5.15, or 14.8 percent, from an earlier high of $41.46.


Stock prices often jump when Berkshire reveals new investments, which is seen as a seal of approval from Buffett.


Berkshire does not invest in technological businesses on a regular basis, despite holding a $161.2 billion position in Apple Inc. at the end of 2021. (NASDAQ:AAPL). Buffett views Apple as a more consumer-oriented firm.


"Berkshire Hathaway is a globally renowned investor, and we are pleased to welcome them as an investor," HP stated in a statement.


HP, which was spun out from the previous Hewlett-Packard in 2015, is benefitting from growing demand as more individuals work and educate themselves from home.


The Palo Alto, California-based corporation agreed to acquire Poly, formerly known as Plantronics (NYSE:POLY), for $1.7 billion last month.


Buffett has struggled to invest Berkshire Hathaway's capital, which reached $146.7 billion at the conclusion of the fiscal year, citing high valuations and competition from private equity and other investors.


However, the Omaha, Nebraska-based conglomerate said last month that it had committed nearly $22 billion to significant new investments.


These acquisitions include a 14.6 percent interest in Occidental Petroleum Corp (NYSE:OXY) and a $11.6 billion acquisition of insurer Alleghany (NYSE:Y) Corp, Berkshire's biggest since 2016.


Additionally, Berkshire owns a number of enterprises, including Geico car insurance and the BNSF railroad.


It did not reply to demands for comment immediately.


HP may appeal to Berkshire, according to Morningstar analyst Mark Cash, because the company is aggressively returning capital to shareholders through stock buybacks and increased dividends.


"HP plays in areas where (durably) accelerating growth is difficult, so concentrating on margins and returns is the best approach to reward shareholders," Cash said. "Within technology, HP is a bargain play."


In 2021, Berkshire Hathaway repurchased $27 billion of its own shares.



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