Laura: Trump is being unabashedly 'America first'
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Yahoo
24 minutes ago
- Yahoo
Buffett's Berkshire takes $3.8 billion Kraft Heinz write-down
STORY: Warren Buffett's Berkshire Hathaway said it took a more than $3.7 billion write-down on its stake in Kraft Heinz in the second quarter... an acknowledgment that the decade-old investment hasn't worked out. The write-down followed the struggling food company's announcement that it would consider strategic alternatives, which could include a breakup. It's Berkshire's second write-down for Kraft Heinz, following a $3 billion hit in 2019. Buffett acknowledged at the time that Berkshire overpaid in the 2015 merger of Kraft Foods and H.J. Heinz, one of his biggest investment missteps. Kraft Heinz has suffered as more shoppers favor healthier and private-label alternatives. Its approximately 200 brands include Oscar Mayer, Kool-Aid, Velveeta and Jell-O. Berkshire also reported a 4% decline in quarterly operating profit as insurance underwriting premiums fell. The conglomerate signaled it remains cautious about market valuations amid uncertainty about tariffs and growth in the broader economy. Related videos Europe's most expensive city revealed, as living costs near £3,500 per month £50k in savings? Here's how to unlock up to £4.5k in passive income overnight How will the Lloyds share price be affected by today's Supreme Court ruling? Meet the 75p dividend stock with a higher yield than Legal & General shares Shares of Berkshire have fallen more than 12% and lagged the S&P 500 by about 22 percentage points since Buffett, who's almost 95, announced in May that he would step down as CEO at year's end. Vice Chairman Greg Abel will succeed him, though Buffett will remain chairman. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24 minutes ago
- Yahoo
Gangs promoting small boats crossings on social media face jail under new crackdown
Gangs promoting small boat Channel crossings on social media will face up to five years in prison as part of a new crackdown announced by the government. An amendment to the Border Security, Asylum and Immigration Bill – currently going through parliament – will introduce a new, UK-wide offence to criminalise the creation of material for publication online which promotes or offers services facilitating a breach of UK immigration law. This could include small boat crossings, the creation of fake travel documents like passports or visas, or explicitly promising illegal working opportunities in the UK. While facilitating illegal migration is already a crime, the government said the proposed changes would 'add another string to law enforcement's bow, better enabling them to disrupt the gangs while they are publicising people smuggling activities and provide an additional tool when building a case against those peddling this content'. Approximately 80 per cent of migrants arriving via small boats told officials that they used social media during their illegal journey to the UK, including to locate or communicate with an agent or facilitator associated with an organised crime group, according to Home Office analysis. Individuals caught by the offence could receive a prison sentence of up to five years and a fine. It comes after the number of migrants arriving in the UK after crossing the English Channel topped 25,000 in record time, after some 898 people made the journey in 13 boats on Wednesday – the third highest daily number of crossings this year. The home secretary said ministers are 'determined to do everything we can' to prevent people smuggling gangs from helping people to make the dangerous crossing. 'Selling the false promise of a safe journey to the UK and a life in this country – whether on or offline – simply to make money, is nothing short of immoral', said Yvette Cooper. 'These criminals have no issue with leading migrants to life-threatening situations using brazen tactics on social media.' She added: 'We have to stay one step ahead of the ever-evolving tactics of people-smuggling gangs and this move, part of our Plan for Change to boost border security, will empower law enforcement to disable these tactics faster and more effectively, ensuring people face proper penalties.' Rob Jones, director general of the National Crime Agency, said: 'We know many of the people-smuggling networks risking lives transporting people to the UK promote their services to migrants using social media. 'The majority of migrants arriving in the UK will have engaged with smugglers in this way. This is why we work with social media companies to target smugglers' accounts, and we've increased the pace of takedowns.' In 2025 so far, 25,436 people have made the dangerous journey across the Channel – up 51 per cent on this point last year (16,842) and 73 per cent higher than at this stage in 2023 (14,732), according to PA news agency analysis. It is the earliest point in a calendar year at which the 25,000 mark has been passed since data on Channel crossings was first reported in 2018. Last year, the figure was passed on 22 September, and in 2023, it was on 2 October. With Nigel Farage's Reform UK surging in the polls, the figures come as a fresh blow to Sir Keir Starmer, whose pledge to tackle small boat crossings is a central pledge of his mission for government. The high numbers of crossings come despite the prime minister announcing a major 'one in, one out' returns deal with France last month. While it is hoped the deal will bring the spiralling numbers under control, the crossings have so far continued at pace.
UPI
24 minutes ago
- UPI
Mixed results for 'Rage Against the Regime' day of action
Aug. 2 (UPI) -- The same organization behind prior protests against the Trump administration reported mixed results for Saturday's "Rage Against the Regime" protests across the country. The protests are part of the ninth "national day of action" event coordinated so far this year by the 50501 Movement, which opposes President Donald Trump and his administration's policies. Organizers accuse the Trump administration of "heralding ... American neo-fascism," building "concentration camps" and funding "genocide." They also accuse Trump of "weaponization of ICE against our communities, construction of concentration camps, covering up the Epstein files, attacks on transgender rights and ... dismantling of Medicaid, SNAP, USAID, the Department of Education, NOAA and the National Weather Service." The protests are intended to be peaceful, but at least one local organizer changed the name to "Rise Against the Regime" to emphasize its peaceful intent for the protest in San Angelo, Texas. Several posts on the 50501 Movements' Facebook page expressed disappointment over low turnout at many of the protests, while others said hundreds showed up. The organization says "50501" refers to 50 protests in 50 states in one day and calls the Trump administration a "threat" to democracy and human rights, The Hill reported. About 350 Rage Against the Regime protests were scheduled in communities across the nation. The name of Saturday's collective protests references the Los Angeles rock band Rage Against the Machine. Other nationwide protests organized by the 50501 Movement include the "No Kings Day" protest held on June 14 and the "Good Trouble Lives On" protest held on the anniversary of former Rep. John Lewis' death on July 17.
