Joe Lewis' $8 Billion Empire Loses Top Executive in Power Shift
Shehan Dissanayake departed Tavistock Group for personal reasons after most recently serving as the firm's chairman, according to a person with knowledge of the matter. The 58-year-old Sri Lankan native, who still appeared on Tavistock's website in late 2024, is also no longer based in the US, said the person, who asked not to be identified as the details are private.
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Warren Buffett's stock still struggling since May peak
Warren Buffett's stock still struggling since May peak originally appeared on TheStreet. There's a reason why shares of Warren Buffett's Berkshire Hathaway () and () have fallen more than 12% since early May. Some of its businesses aren't performing as well as in prior years. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰 The company saw operating profit drop to $11.16 billion, a 3.8% decline from a year earlier, in part because of declines in underwriting earnings in its insurance operations, according to its second-quarter earnings report released Saturday. Plus, it wrote down the value of its investment in Kraft Heinz () , the food giant Berkshire helped put together. Kraft Heinz shares have lost two third of their value since 2017. The pre-tax write-down came to about $5 billion. It still owns 27.4% of the company. Until this spring, Berkshire controlled two of the 12 seats on the Kraft Heinz board. It has given up both seats. The write-down was a rare disappointment for Buffett and Berkshire Hathaway, although analysts believe it was long shares struggle since spring Berkshire's Class A shares closed Friday at $711,480, down $8,370 on the day. The Class B shares ended at $472.84, up 96 cents. Berkshire shares hit intraday peaks of $812,855 and $542.07, respectively, on May 2, the day before the company's annual meeting when Buffett said he would retire as CEO on Dec. 31. The closes for the stock classes translated into year-to-date-gains of 18.5%. The shares then fell through May, June and July. One reason for the declines was the uncertainty created by the announcement. Buffett was a known quantity for Wall Street. Greg Abel, who will succeed the Oracle of Omaha as CEO, is less known. Perhaps as important, the big technology rebound that started in April probably drew money away from less glamorous opportunities. Like Palantir () , Facebook parent Meta Platforms () , Microsoft () and, of course, Nvidia () . Here is how the Berkshire B shares have behaved compared with the S&P 500 over the six months. Despite the shares' fallback since May, Berkshire's A shares are up 4.5% in 2025, with the B shares up 4.3%. The S&P 500 is up 6.1% on the year and up 29% from its April low. (We should note Berkshire rose on Friday as some investors saw it as a safe haven.) And the company has real strength. Berkshire ended the second quarter with $344.1 billion in cash and equivalents, about 37% of total assets. The cash position includes nearly $250 billion in short-term Treasury who turns 95 on Aug. 30, took control of Berkshire in 1965. It was then a struggling textile company in 1965. He has been CEO since 1970. Abel, who is Berkshire's vice chairman of non-insurance operations, is also CEO of Berkshire Hathaway Energy, which operates four electric utilities and related subsidiaries. More Warren Buffett: Warren Buffett's Berkshire Hathaway predicts major housing market shift soon Warren Buffett has harsh words for stock market investors Warren Buffett makes worrisome car insurance prediction Former Warren Buffett exec makes bold real estate bet A low-visibility corporate giant Berkshire is a huge conglomerate with about 392,000 employees. Much of its profits come from its insurance businesses. It owns Geico, Allegany and no fewer than 16 other insurance companies. It also owns the Burlington Northern Santa Fe Railroad, a host of electric utilities, Fruit of the Loom, Dairy Queen, Duracell, boot-maker Justin Brands and the Pilot chain of truck stops. Most of its companies run semi-autonomously and have been reliably successful and made Buffett and Berkshire shareholders wealthy. The railroad business is based in the western United States and will face new competitive pressures when — and if — rival Union Pacific Corp. () merges with Norfolk Southern Corp. () . The two sides agreed this past week to merge in a deal valued at about $85 billion. Assuming it closes, the result would be the first coast-to-coast railroad operator in the United States. Many analysts believe BNSF will need to find a merger partner of its own to compete. There, however, just five big railroads. Berkshire still is still a large investor in a host of companies with a fair value of $268 billion. The largest holdings are: American Express () . Apple () . Bank of America () . Coca-Cola () . Chevron Corp. () .Warren Buffett's stock still struggling since May peak first appeared on TheStreet on Aug 3, 2025 This story was originally reported by TheStreet on Aug 3, 2025, where it first appeared. Sign in to access your portfolio
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Seeking growth AND dividends? 3 investment trusts to consider in August
UK share investors have a vast selection of investment trusts to choose from today. Whether someone is seeking growth or passive income — or a combination of both — there are plenty of options to suit every individual's investment style. With this in mind, here are two top, balanced trusts worth serious consideration right now. Global dividend trust Through a combination of share price gains and dividend income, the Bankers Investment Trust (LSE:BNKR) has delivered an average annual return of 11% over the last 10 years. To put that into context, the FTSE 100's delivered a 7% return on the same basis. The FTSE 250 index of mid-cap growth shares produced a 5% average return. Bankers could be an especially great trust to consider for investors leaning more closely towards dividends. It targets payout growth 'greater than inflation, as measured by the UK Consumer Prices Index', and has raised cash rewards for 58 consecutive years. The trust's portfolio comprises roughly 100 global shares, and has significant holdings in technology shares such as Microsoft, Amazon, Apple and Alphabet. This provides significant growth potential as the digital economy rapidly grows. In total, around 32% of the fund is tied up in tech stocks. But remember that this high weighting could cause Bankers to underperform during economic slowdowns. High yield growth trust The JP Morgan Global Growth & Income (LSE:JGGI) trust has performed even more strongly over the last decade. Since summer 2015, it's provided an average annual return of 17.1%. As a consequence, it's comfortably achieved its goal of providing better returns than the MSCI All Country World Index. The total return here sits way back at 10.5%. This JP Morgan investment trust doesn't have the stunning dividend growth record of Bankers. Cash rewards fell sharply in 2016 after it reset its payout policy, reflecting plans to deliver dividends totalling 4% of its net asset value (NAV). But dividends have grown strongly since then, and the revised policy means the trust beats most UK shares on yield. Like Bankers, it holds a high proportion of US tech shares. This leaves it vulnerable to a slowing global economy, as well as a prolonged market shift from Wall Street equities to non-US stocks. UK dividend trust City of London Investment Trust (LSE:CTY) has also raised dividends consistently for more than half a century. They've grown every year since 1966, to be exact. Combined with share price gains, this means over the last decade the trust's delivered an average annual of 10.6%. I strongly believe returns could substantially improve over the next 10 years as broader demand for UK shares continues to pick up. You see, City of London is focused on blue-chip companies from Britain's stock market. These make up around 93% of the entire portfolio, in fact, with major holdings including HSBC, BAE Systems, Shell and Lloyds. This geographic allocation creates more regional risk than those other global trusts I've described. But it also provides the potential for greater returns if the recent shift from US equities to UK stocks continues. The post Seeking growth AND dividends? 3 investment trusts to consider in August appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool HSBC Holdings is an advertising partner of Motley Fool Money. Royston Wild has positions in HSBC Holdings. The Motley Fool UK has recommended Alphabet, Amazon, Apple, BAE Systems, HSBC Holdings, Lloyds Banking Group Plc, and Microsoft. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 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
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Inside one of cheapest Southend homes on market in 19th century Fisherman's Cottage
This 19th century "Fisherman's Cottage" is among one of the cheapest properties currently listed on Zoopla in Southend. Listed at £145,000, the property is described as a Local Heritage building and has been converted into a one-bedroom split level flat. The listing, by Bairstow Eves, says the property is offered with "no onward chain". Located on Eastern Esplanade, the flat includes a lounge, bedroom, bathroom and kitchen. The kitchen area (Image: Bairstow Eves / Zoopla) According to the listing, the lounge has a double glazed window to the front, power points and a TV point. The bedroom has a double glazed window to the rear, fitted wardrobes and storage cupboards. The bathroom is also positioned at the rear of the property and contains a double glazed window and power points. The kitchen features fitted eye level and base units, drawers, work surfaces, an inset gas hob with oven beneath and extractor hood above. The living space (Image: Bairstow Eves / Zoopla) The listing states there is plumbing for an automatic washing machine and space for a fridge freezer. The property is being sold by the Modern Method of Auction. According to the listing, the buyer and seller are expected to complete within 56 days. The bedroom (Image: Bairstow Eves / Zoopla) The winning bidder must pay a non-refundable reservation fee of 4.5 per cent of the purchase price, subject to a minimum of £6,600 including VAT, in addition to the purchase price. A Buyer Information Pack is provided, which the listing says must be viewed before bidding. Optional services may be offered, with payment to the provider not exceeding £450. For full details, visit Permission granted by Zoopla
