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Buffett Dumps Exxon, Buys Refiner Phillips Stake Due to Falling Oil Prices

Warren Buffett lets go of Exxon shares, and buys refiner Phillips stake because of the fluctuating oil prices. Bloomberg reports that the billionaire investor announced Wednesday that his Berkshire Hathaway Inc. sold some $4 billion Exxon Mobil Corp. shares due to the dreary outlook of crude oil prices, buying instead a $4.48 billion stake from refiner Phillips 66.


Eravacycline test failure plunges Tetraphase shares

The Tetraphase Pharmaceuticals Inc. shares had fallen in late trading Tuesday to 80%. This is after a study discovered that its manufactured experimental antibiotic was no better than a standard generic treatment.

S&P Downgrades Brazil's Credit Rating Straight Down to Junk Territory

Brazil's investment-grade credit falls beyond correction and into junk territory as Standard & Poor's downgraded the country's debt Wednesday. According to a report from The Guardian, Standard & Poor's said that Brazil lost its investment-grade status as it is projected with a negative outlook. This downgrade is unfortunate as the nation enters a recession.

French Industry Production Plunges Lower to 0.8%, Lowest Since November 2014

French Industry slumps lower in the third quarter as production unexpectedly fell to 0.8%, a number lowest since November 2014. Economists forecasted a 0.2 increase according to Bloomberg survey, making the 0.8 percent downward curve such a big surprise. The statistics office reported Thursday that French industry output fell by 0.8 percent annually. Meanwhile, manufacturing output also dropped by 1 percent this month.


Latest News

Brooklyn Beckam allegedly is crushing on Selena Gomez. On the other hand, they arrived together at the NYFW party and was purportedly spotted getting up close and personal.
Fanatec recently introduced the newest wheel rim for Turn 10 Studios’ “Forza Motorsport 6” - ClubSport Wheel Rim GT – for Xbox One. The wheel is available as a standalone item or with the Universal Wheel Hub.
The biggest event in UFC is happening in December 2015. Conor McGregor vs. Jose Aldo would be the main event. The rivalry of the two is finally heating up with drug tests on streak.
Glencore's Chief Executive Officer, co-founder, and second largest shareholder Ivan Glasenberg is set to pay $210 million of the company's impending $2.5 billion sale of new shares to repair its balance sheet.
With an ambition to be the next eCommerce giant in Southeast Asia, Matahari Mall officially launched Wednesday with $500 million funding from giant Indonesian real estate development company Lippo Group.
Starting last week, Kmart, the U.S. retail company under Sears Holding Corp. brings back its No Money Down Layaway Program and launches No Money Down Leasing for holiday shoppers.
George Clooney and Amal Alamuddin are going strong and said to be celebrating their first wedding anniversary this month. Amal Almuddin is said to have ventured a new career path but still not leaving her first love, law.
The Pokemon Company has outdone theirselves this time--making great games is one thing, but fulfilling the dreams of gamers is another. Pokemon Go looks to make the fans accomplish real life Pokemon searching, and there's only very little wait before it happens.
Bungie has been looking good in trying to recover from the faulty fell on the laps of the fans during its latest update. Now, Destiny: The Taken King has more in store especially to the fans who did not notice the smaller details released for the game.
The Nimbus is as interesting as it comes --putting the features of the traditional controller with hints of Apple in it. Here are some of the key points to take note in this technological marvel by Apple.
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