Business News

NWQWM Morning Financial Report

Sitting on the sidelines during the coronavirus crisis, Warren Buffett's Berkshire Hathaway broke its silence at the end of a holiday weekend with its largest acquisition in more than four years. The conglomerate is buying Dominion Energy's Gas Transmission & Storage segment for $9.7B in cash, which includes more than 7,700 miles of natural gas storage and transmission pipelines and about 900B cubic feet of gas storage. Proceeds will be about $3B, as the deal includes the assumption of $5.7B in debt, and there are some taxes to pay (that amount will be used by Dominion to buy back shares). (SA)


Uber has agreed to acquire Postmates in a $2.65 billion all-stock takeover.  The takeover would help Uber gain ground against privately-held DoorDash Inc., the current market leader in U.S. food delivery. While Postmates hasn’t kept pace with DoorDash, it maintains a strong position in Los Angeles and the American Southwest, both of which could be valuable to Uber Eats.  The move for Postmates comes on the heels of Uber’s failed bid to acquire publicly traded GrubHub Inc., which was scooped up by Europe’s Just Eat for $7.3 billion. (Bloomberg)


International markets are rising sharply today, as bullish sentiment in China rippled across global markets to drive investors’ optimism for a recovery from the pandemic.  China’s index of Shanghai- and Shenzhen-listed shares jumped as much as 5.7 per cent, closing at a 5-year high.  The upbeat mood in equity markets came despite new increases in coronavirus cases in a number of countries. (FT)


With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.

On Air Now

Lars Larson
Lars Larson
7:00pm - 10:00pm
Lars Larson



News Disclaimers