The Week (US)

The bottom line

-

■ Apple became the first U.S. public company to pass $2 trillion in value. It was also the first to exceed $1 trillion—a mark reached just two years ago. CNBC.com

■ Almost 16 percent of Federal Housing Administra­tion loans were delinquent in the second quarter, up from about 9.7 percent in the previous three months, and the highest level in records dating back to 1979.

Bloomberg.com

■ The median rent for a onebedroom apartment in San Francisco in July dropped by 11 percent from last year. In Cupertino, home to Apple, and Mountain View, home to Google, rents fell by more than 15 percent.

The Wall Street Journal

■ Home Depot sales rose 23 percent in the second quarter, fueled by the homebuying and do-it-yourself renovation craze. The company spent about $480 million on additional benefits for employees required to work in stores and warehouses amid the health crisis.

Reuters.com

■ Citibank filed a lawsuit against Brigade Capital Management, seeking to recoup $175 million it wired the hedge fund by mistake. The bank says it intended to send about $1.5 million in interest payments on a loan Brigade made to troubled cosmetics company Revlon. Other Revlon creditors also received erroneous payments, adding up to $900 million.

CNN.com

■ Warren Buffett’s Berkshire Hathaway bought 20.9 million shares of Barrick Gold valued at $564 million last quarter. The move is surprising because Buffett has long been skeptical of investment­s in gold.

MotleyFool.com

 ??  ??

Newspapers in English

Newspapers from United States