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Business

US billionaire Warren Buffett hit by $63b loss

US billionaire Warren Buffett hit by $63b loss

One of the richest men alive has seen his company suffer a whopping $US43.76 billion ($A63.3 billion) loss as a result of the bloodbath on the share market.

The billionaire Warren Buffett is one of the most successful investors of all time and has a net worth of $US102 billion ($A147 billion).

But there owner of Berkshire Hathaway was forced to reveal the brutal loss after its three biggest investments – shares in Apple, American Express and Bank of America – plummeted in the second quarter amid rising interest rates and runaway inflation.

But Mr Buffett isn’t a fan of relying on investments gains and losses, which can swing wildly from quarter to quarter.

Instead, he said the company’s operating earnings better reflect its performance.

Berkshire’s earning painted a far rosier picture skyrocketing to $US9.28 billion ($A14 billion), from last year’s $US6.69 billion ($A9.7 billion).

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Among the 90 companies operated under Berkshire, including insurance, utility, manufacturing and service companies as well as a railway firm, a $US487 million ($A703 million) loss was reported at insurance company Geico, due to the soaring value of cars and ongoing shortages of car parts.

Berkshire is believed to give an insight into how the broader US economy is faring given the broad scope of companies across industries, amid fears the US could be headed into a recession.

“This is a business that has its tentacles in all different parts of the economy. To show such broad revenue and earnings strength throughout the franchise, it gives me a lot of confidence that the broader economy is performing pretty well,” said Jim Shanaham, analyst at investment firm Edward Jones reported the Australian Financial Review.

The company revealed its revenue grew by more than 10 per cent to $US76.2 billion ($A110 billion) in the quarter as many of its businesses increased prices.

Earlier this year, the billionaire had to backflip on his staunch stance against cryptocurrency in an embarrassing concession.

The businessman was a well-known proponent against blockchains and compared bitcoin – the most popular cryptocurrency – to “rat poison” in 2018.

But in a filing with the US Securities and Exchange Commission (SEC) from Mr Buffettt’s company Berkshire revealed that he had spent a whopping US$1 billion (A$1.4 billion) on cryptocurrency.

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Categories
Entertainment

The Archers’ June Spencer retires aged 103 after 72 years on air as Peggy Woolley

Original star: June Spencer (pictured), the voice of Peggy Woolley in The Archers, was the only member of the original cast

The Archers’ June Spencer retires aged 103 after 72 years on air as Peggy Woolley

By Xindi Wei For The Daily Mail

Published: | Updated:

After 72 years, the voice of The Archers’ Peggy Woolley has retired at the age of 103.

June Spencer, who made her first appearance on the Radio 4 soap in May 1950, was the only remaining member of the original cast – but has finally stepped down despite pleas from BBC bosses.

‘I’ve been trying to retire for at least a year,’ she told The Daily Telegraph.

‘They didn’t want to lose their character. Every time I tried to stop, they gave me more episodes.

‘The idea was that the country characters having to explain things to Peggy educated the listeners.’

Original star: June Spencer (pictured), the voice of Peggy Woolley in The Archers, was the only member of the original cast

Original star: June Spencer (pictured), the voice of Peggy Woolley in The Archers, was the only member of the original cast

Miss Spencer, whose husband Roger Brocksom died in 2001, has already taped her last episodes, which were broadcast on July 31.

They were recorded from a custom studio at her Surrey home, to save her commuting to the show’s Birmingham base.

Mrs Woolley has not been officially removed from the show, and Miss Spencer admitted she didn’t know how she would be written out.

Miss Spencer's last episodes were broadcast on July 31. Pictured on the left in 1950 recording a pilot for The Archers and on the right in her current handout picture from 2010

Miss Spencer’s last episodes were broadcast on July 31. Pictured on the left in 1950 recording a pilot for The Archers and on the right in her current handout picture from 2010

‘The simplest thing is if [Peggy has] to fall or something and goes into The Laurels [the fictional Ambridge care home],’ she said.

‘She can languish for years there.’

The Duchess of Cornwall recently called Peggy Woolley a ‘national treasure’.

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Categories
Sports

Socceroos striker Martin Boyle returns to Hibernian, scores Edinburgh derby equalizer against Hearts with last kick of the game

Martin Boyle scores in the 95th minute for Hibernian

Fan favorite Martin Boyle enjoyed a fairytale return to Hibernian as he came off the bench to score a late equalizer against arch-rivals Hearts in front of a full house at Easter Road.

Lawrence Shankland’s first competitive goal for the Hearts in the 21st minute looked as if it was going to be enough to secure a third Edinburgh derby victory in succession for the visitors.

But the Socceroo Boyle, who has returned just seven months after leaving in a lucrative transfer to Saudi Arabian side Al Faisaly, struck with the last kick of the game, sparking a mini pitch invasion from the jubilant home support.

An Australian striker playing for Scottish side Hibernian runs down the touchline as ecstatic fans roar and punch the air..
Martin Boyle left it late to score an equalizer against Hearts that sent Hibernian fans wild in the stands. (Getty Images/SNS Group: Rob Casey)

Manager Lee Johnson hailed Boyle’s “Roy of the Rovers” return.

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The 29-year-old Australia international only signed for Hibs on Saturday.

And after being introduced as a 62nd-minute sub, Boyle sparked bedlam inside a packed Easter Road as he struck with the last kick of the game.

“If you wrote a comic book strip and he was the star of the show, I’m not sure you could write it better than that,” Johnson said.

“He’s buzzing, but the boys were buzzing as well when we told them yesterday (that he had signed).”

Boyle had not played for six weeks prior to his Easter Road return and Johnson admits he had to weigh up whether to include him in the squad.

“It was about 9pm last night,” he said after being asked when he knew Boyle would be eligible.

“There was a bit of deliberation about whether I should play him, from one particular key figure at the club who didn’t think I should, but I will remind him gently — very, very gently — that’s my role.”

Livingston secured their first Premiership win of the season with a narrow 1-0 victory over Dundee United at Tannadice.

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Categories
Australia

Mrs Cossack sets up Infowars Australia

Mrs Cossack sets up Infowars Australia

He feels these things deeply. One can only imagine his feelings from him last December when an Australian company, Infowars Limited, was incorporated.

ASIC filings show the largest shareholder, with 40 per cent, was Ekaterina Olshannikovathe 27-year-old Russian wife of Simeon Boykovwho calls himself the Aussie Cossack.

Infowars Australia has no apparent link to Jones’ US outfit. Perhaps they just liked the name.

Boikov, 32, has made a name for himself for his vehemently pro-Putin stance, his rallying of anti-vaxxers, a fondness for funny hats and dress ups when with fellow Cossacks, and playing the piano accordion.

Boykov produces a Russian-language publication, FrontierNewsand rails against mainstream media such as Nine’s A Current Affair (Nine also owns the Financial Review), which he repeatedly accused of being “complicent” in fake news in a profile of him in March.

Boikov’s journalistic endeavors have been on hiatus since May 16 while he serves a six-month prison sentence for broadcasting the suppressed name of a person facing child abuse claims. Olshannikova chronicles his jail experiences for the vlog.

It’s a lot of work running her husband’s channels on TikTok, Telegram, Facebook and YouTube. Perhaps that’s why Olshannikova resigned from the Infowars board on July 13.

She’s come a long way since Boikov’s Australia Day video when he introduced followers to “Mrs Cossack”. Her only comment from her: “Yeah we need to set up some merch.”

She means selling merchandise. It’s the money shot. Alex Jones would be proud.

Categories
US

Arrest made in connection with Mexico man’s death

Arrest made in connection with Mexico man's death

Maine State Police announced Sunday an arrest in connection with a fatal shooting in Mexico. The agency said around 1 pm Saturday, police were called to a home on Intervale Avenue for a reported shooting. State police say responding officers from Mexico and Rumford found Nicholas Trynor, 27, dead. “Maine State Police Major Crime Unit Detectives were called in to assist in the investigation and worked throughout the night and throughout the day Sunday gathering statements and evidence,” the agency stated in a press release. Thomas Tellier, 52, was arrested Sunday in connection with the death of his stepson. State police say Tellier was taken to the Oxford County Jail on a murder charge. He is expected to be arraigned later this week in Oxford County Superior Court. According to Trynor’s father Paul, Nicholas leaves behind a young son. The family set up a fundraiser to offset the cost of funeral expenses.

MEXICO, Maine—

Maine State Police announced Sunday an arrest in connection with a fatal shooting in Mexico.

The agency said around 1 pm Saturday, police were called to a home on Intervale Avenue for a reported shooting.

State police say responding officers from Mexico and Rumford found Nicholas Trynor, 27, dead.

“Maine State Police Major Crime Unit Detectives were called in to assist in the investigation and worked throughout the night and throughout the day Sunday gathering statements and evidence,” the agency stated in a press release.

Thomas Tellier, 52, was arrested Sunday in connection with the death of his stepson.

State police say Tellier was taken to the Oxford County Jail on a murder charge.

He is expected to be arraigned later this week in Oxford County Superior Court.

According to Trynor’s father Paul, Nicholas leaves behind a young son.

The family set up a fundraiser to offset the cost of funeral expenses.

Categories
Business

Luxury bargain hunters embrace eBay

Luxury bargain hunters embrace eBay

Over the past few years, the business has been investing in tools for collectors and consumers of luxury goods, including authenticity guarantees for shoes and handbags.

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EBay recently launched a collectables storage facility called eBay Vault, which lets users store products such as trading cards in a climate-controlled and secured warehouse from which they can sell their goods through the eBay platform.

Ramadge has been with eBay Australia for five years, having stepped into the role of senior director of product and shipping after a decade working in Silicon Valley.

He agrees there is plenty of “doom and gloom” in discussions about rising interest rates and inflation, but says now is the time for a company such as eBay to leverage what it does best.

“You can sell and free up some cash if you’ve got stuff around the house,” he said.

“And it’s still a place for you to go and get those nice luxuries, those nice hobby items that can keep you happy even through a tough economic time.”

Australia is a small slice of eBay’s total business, but documents filed with the corporate regulator show the company has increased profit in the face of COVID lockdowns across the country.

The retail giant’s local operations made a $13.6 million profit in 2021, up by 47 per cent on 2020.

Australian retail spending has maintained momentum but is expected to slow in coming months.

Australian retail spending has maintained momentum but is expected to slow in coming months. Credit:edwina pickles

At the start of lockdowns in 2020, the platform had a surge in customers logging on to sell used goods for the first time. Ramadge says that trend is happening again now that many households are staring down rising mortgage payments.

It’s four months until the festive shopping season begins, and with early signs that spending is slowing down, there are no expectations it will be as strong as previous years.

“I think that the macro environment means it will be a challenging shopping season,” Ramadge said.

“The fact that everyone’s out and about combined with the tighter economic environment means it’ll be a little more challenging this year, that’s for sure.”

But there’s hope that the current conditions will help spur Australians’ passion for the “circular economy”, where second-hand items change hands instead of shoppers going to big department stores for gifts.

This trend plays to eBay’s strengths.

“We’re seeing a lot of activity and interest in buying and selling pre-loved items, especially from younger consumers, like Gen Z, and in areas like fashion,” Ramadge said.

“So I think there are some trends within categories, where you’ll see enormously strong year-over-year growth.”

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Categories
Entertainment

Prince William and Kate about to embark on ‘next chapter of their lives’ as they move to Windsor

The Cambridge family are just weeks away from beginning the “next chapter in their lives” as they move to Windsor.

Prince William and Kate, and their children Prince George, Princess Charlotte and Prince Louis, are due to relocate to Adelaide Cottage where they will be closer to Queen Elizabeth.

The monarch now permanently lives at Windsor Castle, a stone’s throw from the new Cambridge home.

READMORE: Princess Mary confirms changes for children after bullying scandal

Camilla, Duchess of Cornwall, Prince Charles, Prince of Wales, Queen Elizabeth II, Prince Louis of Cambridge, Catherine, Duchess of Cambridge, Princess Charlotte of Cambridge, Prince George of Cambridge and Prince William, Duke of Cambridge on the balcony of Buckingham Palace watch the RAF flypast during the Trooping the Color parade on June 02, 2022 in London, England. The Platinum Jubilee of Elizabeth II is being celebrated from June 2 to June 5, 2022, in the
The Cambridges will soon live closer to the Queen as their royal duties increase. (Getty)

Adelaide Cottage meets the Cambridges’ desire for a “modest home” and being set within the large Windsor estate, it will give the children the privacy to play, ride their horses and walk their dog Orla without risk of being photographed.

Royal biographer and editor-in-chief of Majesty magazine, Ingrid Seward, said it would be a welcome change from London.

READMORE: Fergie’s mansion purchase leaves villa owner ‘outraged’

“Kensington Palace is a glorious prison for kids – they want to be able to play football without being watched from behind the gates,” Seward said, reports The Sun.

“I think Windsor will be perfect for them, as they will have lots of freedom and they can all be at school together.”

Kate’s uncle Gary Goldsmith said the Duke and Duchess of Cambridge were “ready for the next chapter in their lives.”

The Cambridge family are just weeks away from moving to Windsor. (Getty)

Goldsmith praised his childhood for holding the family together in what has been a turbulent couple of years for the monarchy.

“She shines in every situation, on every stage, and behaves with class.

“The royal family is in safe, beautiful and heaven-sent hands. She has got this in both the good times and the bad times.”

For the first time, all three Cambridge children will attend the same school, rumored to be Lambrook School, in Ascot, near Windsor Castle.

READMORE: Inside William and Kate’s move to Windsor for new home and school

Prince George, nine, Princess Charlotte, seven, and Prince Louis are due to begin at their new school in September.

Before embarking on their new chapter at Windsor, the Cambridges are expected to join the Queen at Balmoral Castle where Her Majesty is enjoying a three-month summer getaway.

The Prince of Wales and Queen Elizabeth at the Palace of Holyroodhouse, in Edinburgh on Thursday June 30, 2022. (Getty)

Her Majesty is expected to interrupt her Scottish holiday to travel to England in the coming weeks to invite her 15th Prime Minister to form a government.

It follows the resignation of Boris Johnson who will step down on September 6.

The winning candidate is expected to meet the monarch to officially accept the invitation.

The Queen doesn’t usually return from Balmoral Castle until early October but is believed to have told aides she will make an exception and travel to Buckingham Palace in London, or Windsor Castle.

Sources say it’s a duty Her Majesty intends to fulfill in person.

The Queen’s visit to welcome the new Prime Minister is expected to be briefed and she will return to Balmoral to continue her holiday.

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Catherine, Duchess of Cambridge and Princess Charlotte of Cambridge attend the Sandwell Aquatics Center during the 2022 Commonwealth Games on August 02, 2022 in Birmingham, England

Princess Charlotte’s sweet moment with mum Kate at the swimming

Categories
Sports

Why it’ll take a “freak event” to stop Geelong winning the flag

Why it'll take a “freak event” to stop Geelong winning the flag

Geelong is “absolutely primed” for a tilt at this year’s premiership, says David King.

King thinks it’ll take a “freak event” to stop the Cats from winning the flag – and he has a statistic that hasn’t been achieved in 15 years to prove it.

Chris Scott’s side made it 11 wins in a row after sweeping aside St Kilda by 45 points on Saturday night without Joel Selwood, Patrick Dangerfield, Mark Blicavs and Gary Rohan.

The ladder leading Cats are playing like a well-oiled machine and don’t appear to have any glaring weaknesses within their ranks.

“If you look right now there’s one team in the competition that is number one this season for turning possession into score,” King told SEN’s Whateley.

“They’re also the best at denying the opposition possession to score. So number one attack, number one defence.

“That hasn’t happened since ’07, so we haven’t seen it for 15 years.

“If you look across the competition, teams are rated high in one or the other. They’re really good defensively or they’re really good on offense, but they’re not great at both, no other team is rated top six in both – they’re one and one.

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“The Cats statistically are so much better than any other team. In my opinion, it would take a freak event for them not to win the flag this year.

“I’m talking about a five-goal center bounce performance against them, or a five-goal forward 50 stoppage performance against them, or a Mason Cox-type night. It’ll be a freak event that will stop Geelong winning this flag, in my opinion.

“They’ve been short Geelong because in my opinion their system was poor. Their system this year is working with better talent than it’s ever worked with and I’m talking for the last 10 years, right back to their famous team of ’07, ’09 and ’11.

“It’s beating teams without having their best 22 in the line-up. We haven’t seen that before. I just think they’re absolutely primed, right time, healthy, not reliant on one player.

“I’m all-in on Geelong. They (Melbourne) are not quite there. It doesn’t mean they can’t win it, but it’ll take a freak event for me.”

The Cats travel north to play Gold Coast on Saturday before finishing their home and away campaign at home against West Coast.





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Categories
Australia

Alleged farm massacre culprit’s prior police stoush over gun license revealed

Alleged farm massacre culprit's prior police stoush over gun license revealed

The man accused of shooting three people dead on remote farmland in North Queensland had his gun license revoked by police more than a decade ago, court documents reveal.

But Bogie resident Darryl Young, who is charged with murdering Maree and Mervyn Schwarz and Graham Tighe, successfully appealed the police decision the same year his license was cancelled, claiming he needed it for his “business”.

Documents from the Queensland Civil and Administrative Tribunal (QCAT) reveal Mr Young was first granted a gun license in 1992.

27 Jul 2004 Darryl Young, facing Bowen court on charges of cattle duffing / rustling.. picJohn/Andersen headshot crime qld stealing -   Janelle Young 66yrs of Sneaky Hills Station, in Bowen sentenced to 2yrs jail fully suspended for 5yrs, fined $2800 &
Camera IconDocuments from the Queensland Civil and Administrative Tribunal reveal accused triple-murderer Darryl Young had his gun license revoked by police in 2010, but he successfully appealed the decision. Credit: Supplied

It allowed him to hold four rifles and two shotguns.

In 2010 Queensland Police refused his bid to renew the licence. They argued it was “not in the public interest” for him to hold a license.

In Mr Young’s appeal, he claimed he needed the guns to control feral animals on a property in Gladstone.

“There is no were (sic) in the laws of the gun laws that I have broken to stop me having a gun license,” Young says in his application.

“I need my gun license for my business. I hope the Tribunal over turns (sic) the decision so I can have my license.”

Mr Young is alleged to have murdered Maree and Mervyn Schwarz (pictured) at farmland in Bogie last week.
Camera IconMr Young is alleged to have murdered Maree and Mervyn Schwarz (pictured) at farmland in Bogie last week. Credit: Supplied
Graham Tighe was also allegedly shot dead by Mr Young.
Camera IconGraham Tighe was also allegedly shot dead by Mr Young. Credit: Supplied

The court ruled in favor of Mr Young, rejecting police arguments to refuse the renewal.

Last week, in an unrelated matter, Mr Young was charged with three counts of murder and one count of attempted murder.

Police allege the 59-year-old killed the Schwarzes and Mr Tighe at a property in Bogie, near Bowen, during an arranged meeting at the boundary line.

Ross Tighe survived the incident and drove injured to alert police.
Camera IconRoss Tighe survived the incident and drove injured to alert police. Credit: Supplied

Graham’s brother Ross Tighe was also shot in the stomach but survived, alerting police to what had occurred.

Mr Young, who has been remanded in custody, briefly appeared before Proserpine Magistrates Court on Monday.

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Categories
US

Suspected drunk driver, Miguel Espinoza, charged after crashing into golf cart, killing two children and two adults in Galveston

Suspected drunk driver, Miguel Espinoza, charged after crashing into golf cart, killing two children and two adults in Galveston

GALVESTON, Texas (KTRK) — A suspected drunk driver is being charged after crashing into a golf cart and truck, killing two children and two adults Saturday night, according to police.

Miguel Espinoza, 45, of Rosenberg, is charged with four counts of intoxication manslaughter and is being held on a $400,000 bond.

At about 11:35 pm, officers responded to a crash near the intersection of 33rd Street and Avenue R.

Investigators said Espinoza was headed eastbound in a black Hyundai SUV on Avenue R and failed to stop, hitting the golf cart that was traveling northbound and a Dodge pickup truck that was heading southbound.

Family members dropped off balloons and stuffed animals at the scene on Sunday and told ABC13 news that a grandfather was driving the golf cart with his wife, their niece, and three grandkids.

The grandfather, niece, and two grandkids died. The grandmother and one of the grandkids survived and are in the hospital fighting for their lives.

According to the family, all the family members are from the Rosenberg area, and the grandparents often took their grandkids and family members to Galveston to vacation and enjoy the beach.

“Awesome, they are awesome grandparents,” Minnie Villaboz, the great-grandparent of one of the victims, said.

“They both would bring them here all the time,” Sylvia Martinez, a family friend, added. “They were just here not too long ago. It’s summer, and they are about to start school. I’m sure they wanted to come out and enjoy themselves before school started.”

Neighbors who heard the crash sprang into action, forming a triage and helping those still alive before first responders got there.

“I was trying to comfort the grandma. The grandma was laying right there,” Kimberly Ruiz, a witness, said. “She was trying to get up. I kept telling her, ‘Don’t get up.’ As other people were coming and comforting her, I ran over here to the little boy comforting him because he was still breathing. It was pretty bad.”

Ruiz said she couldn’t stop crying when thinking about the horrendous scene. The tragedy now has a shattered community holding their kids and grandkids tighter.

“I just went back inside and started loving on my kids because that was very thick,” Ruiz said.

During a press conference, Galveston Mayor Craig Brown said golf carts have become a prolific way of transportation for those who live or are visiting the island. While he said ordinances were passed about six months ago, the mayor said the city council would discuss additional safety measures to ensure the community stays safe.

For updates on this story, follow Brooke Taylor on Facebook, Twitter and Instagram.

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