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Anonymous ID: 1ea523 June 23, 2021, 6:28 a.m. No.65518   🗄️.is 🔗kun   >>5528 >>5541 >>5562 >>5591 >>5592

Warren Buffett Resigns From Gates Foundation Board

 

In another potential indicator of how public opinion has turned against Bill Gates in the weeks since he and his now ex-wife Melinda Gates disclosed their divorce plans, financier Warren Buffett has resigned as a trustee of the Bill and Melinda Gates Foundation. Buffett's position on the board was a major PR coup for the foundation, which is one of the world's biggest charitable enterprises.

 

Buffett, now 90, announced his decision to step down from the Gates Foundation board in a statement that also announced he had reached the halfway point in giving his Berkshire Hathaway shares to charity. Buffett gave away another $4.1 billion in Berkshire shares to give foundations. In a statement shared with CNBC, Buffett said he was resigning from the Gates Foundation board "just as I have done at all corporate boards other than Berkshire's".

 

"For years I have been a trustee – an inactive trustee at that – of only one recipient of my funds, the Bill and Melinda Gates Foundation. I am now resigning from that post, just as I have done at all corporate boards other than Berkshire’s," Buffett said in a statement. "The CEO of BMG is Mark Suzman, an outstanding recent selection who has my full support. My goals are 100% in sync with those of the foundation, and my physical participation is in no way needed to achieve these goals."

 

While it's true that Buffett has slowly been pulling back from his non-Berkshire activities for years now, the timing of his departure from the Gates Foundation board is certainly curious. As Buffett himself concedes, he was an "inactive" member of the board. The board includes two other members, Bill and Melinda. Maybe Buffett simply couldn't stomach the awkwardness at board meetings.

 

Melinda Gates reportedly divorced her husband over his friendship with Jeffrey Epstein, something that Buffett has been mum about - though Warren Buffett was never tied to Epstein like many other titans of American business and finance have been. Buffett has contributed $27 billion to the Gates Foundation over the past 15 years. Mark Suzman, the foundation’s chief executive officer, told employees last month that he was in talks to strengthen "the long-term sustainability and stability of the foundation."

 

Suzman "is an outstanding recent selection who has my full support," Buffett said. Suzman has insisted that both Bill and Melinda remain committed to the Foundation even after their divorce.

https://www.zerohedge.com/markets/warren-buffett-resigns-gates-foundation-board

Anonymous ID: 1ea523 June 23, 2021, 6:38 a.m. No.65521   🗄️.is 🔗kun   >>5541 >>5562 >>5591 >>5592

U.S. current account deficit rises to 14-year high in the first quarter

 

The U.S. current account deficit increased to a 14-year high in the first quarter as an acceleration in economic growth drew in imports, and the gap could remain wide, with the United States leading the global economic recovery from the COVID-19 pandemic.

 

The Commerce Department said on Wednesday the current account deficit, which measures the flow of goods, services and investments into and out of the country, rose 11.8% to $195.7 billion last quarter. That was the largest shortfall since the first quarter of 2007. Data for the fourth quarter was revised to show a $175.1 billion gap, instead of $188.5 billion as previously reported. Economists polled by Reuters had forecast the current account gap widening to $206.8 billion in the January-March quarter. The current account gap represented 3.5% of gross domestic product last quarter. That was up from 3.3% in the fourth quarter and the largest since the fourth quarter of 2008.

 

Still, the deficit remains below a peak of 6.3% of GDP in the fourth quarter of 2005 as the United States is now a net exporter of crude oil and fuel. The wider deficit is likely not an issue for the United States because of the dollar’s status as the world’s reserve currency. The economy grew at a 6.4% annualized rate in the first quarter. Growth this year is expected to top 7%. That would be the fastest growth since 1984 and would follow a 3.5% contraction last year, the worst performance in 74 years.

 

Imports of goods jumped $39.9 billion to a record $677.0 billion in the first quarter. Vaccinations against COVID-19 and trillions of dollars in pandemic relief are allowing for a greater reopening of the economy, unleashing pent-up demand, which is being partially satiated with imports. Exports of goods rose $24.5 billion to $408.6 billion last quarter. The increases in both exports and imports reflected increases in nearly all major categories, led by industrial supplies and materials, primarily petroleum and products. Imports of services increased $1.8 billion to $120.2 billion, mostly reflecting a rise in sea freight transport. Exports of services increased $1.1 billion to $175.9 billion, led by personal travel. Primary income receipts increased $9.6 billion to $261.7 billion, lifted by a rise in direct investment income, mostly earnings. Payments of primary income increased $13.5 billion to $211.4 billion, driven by gains in earnings and portfolio investment income, mostly interest on long-term debt securities.

 

Secondary income receipts rose $1.6 billion to $42.6 billion. They were boosted by increase in general government transfers, primarily public sector fines and penalties.

https://www.reuters.com/article/usa-economy-currentaccount/u-s-current-account-deficit-rises-to-14-year-high-in-the-first-quarter-idUSL2N2O42F5

Anonymous ID: 1ea523 June 23, 2021, 7:24 a.m. No.65530   🗄️.is 🔗kun   >>5541 >>5562 >>5591 >>5592

RCH823T USAF C-17 Globemaster heading to Raleigh for an equipment drop-off: Not AF1 Joe heading here tomorrow

 

Joe Biden to make stop in Raleigh Thursday to encourage COVID-19 vaccinations

https://abc11.com/joe-biden-in-raleigh-president-national-month-of-action-covid-vaccine-goal/10813290/