Stocks Slip Deep In The Red On Bank Earnings

Berkshire said it sold off about 100 million more Apple shares in the third quarter after halving its massive investment in the iPhone maker last quarter. Warren Buffett is now sitting on more than $325 billion cash after continuing to unload billions of dollars worth of Apple and Bank of America shares this year and continuing to collect a steady stream of profits from all of Berkshire Hathaway’s assorted businesses without finding any major acquisitions.

Fridays is the latest restaurant chain to file for bankruptcy protection in a year where customers are eating out less and operating costs are on the rise. American casual dining restaurant chain TGI Fridays has filed for Chapter 11 bankruptcy protection, citing financial difficulties from the COVID-19 pandemic as the main factor. It joins a long list of restaurant chains to file for bankruptcy this year, including Red Lobster, BurgerFi, Roti Mediterranean, Buca di Beppo, and others.

Trump’s tariffs could launch a trade war much worse than that of 2018-2019, which saw a shift of Beijing’s purchases to Brazil and Argentina. Iowa farmer Bob Hemesath is worried that U. S. agriculture will pay dearly if Donald Trump wins Tuesday’s presidential election and makes good on a vow to swiftly impose a 60% tariff on Chinese goods and at least a 10% levy on all other imports.

More than 99,000 Oklahoma homes and businesses lost power during the overnight storms. Severe storms and tornadoes battered Oklahoma early Sunday, tossing cars and ripping roofs off buildings in the middle of the night and leaving tens of thousands of homes and businesses without power. Among numerous injuries, 11 people required hospitalization, authorities said.

The project was initially delayed due to habitat preservation issues for the ferruginous hawk, an endangered species. Washington Gov. Jay Inslee has approved a revised plan for a massive proposed wind farm after he rejected a sharply slimmed-down version earlier this year. Inslee urged permitting officials to work quickly to allow the construction of as many Horse Heaven Wind Farm turbines as possible, the Seattle Times reported.

With millions of Americans heading to the polls tomorrow, investors may be losing faith in the ultimate belief stock. One day before millions of Americans will take to the polls to vote in the most contentious election in modern U. S. history, shares in former president Donald Trump’s media company, Trump Media & Technology Group Corp.