Month: August 2022

Catherine Bieterman, who served as Painesville’s economic development director for 17 years, may be moving to Beachwood to work alongside Mayor Justin Berns in his office as the city’s economic development director full time His appointment is pending approval by the city council at the September 6 meeting. He is expected to start the position that week, and has already given notice that his last day in Painesville will be Aug. 29, according to June Scharf, public relations consultant for the city of Beachwood. One of four candidates interviewed, he will start at a base salary of $112,485. Berns introduced…

Value investor Mason Hawkins loaded up on General Electric in the second quarter and also took a stake in growth name Alphabet. Hawkins’ Southeastern Asset Management, which operates a pool of mutual funds called Longleaf Partners Funds, boosted its shares of General Electric by 12% last quarter, according to InsiderScore. In the three-month period ending June 30, the fund held 3.28 million shares worth $208.5 million. Hawkins also bought a stake in Google parent Alphabet for the first time since exiting the stock in 2020; the investor bought 1.5 million shares for a total of $165.7 million. The firm said…

BOSTON–(BUSINESS THREAD)–BitOoda, a pioneering digital asset investment bank, announced a partnership with CoreWeave, the leading specialist provider of high performance cloud computing solutions. The partnership will accelerate the penetration of CoreWeave services for heavy workloads in financial applications. CoreWeave’s pricing model, a wide variety of GPU SKUs, and the ability to scale up and down capacity in seconds allows them to offer real-time, low-latency solutions with attractive cost savings compared to cloud providers of general use. BitOoda’s deep IT experience and extensive network across the financial markets ecosystem make it the ideal partner to drive sales and marketing of CoreWeave…

CINCINNATI, August 19, 2022 /PRNewswire/ — Cincinnati Financial Corporation (Nasdaq: CINF) has announced that in today’s ordinary session, the board of directors has declared a 69 cents-Quarterly cash dividend per share. The dividend is paid October 14, 2022to shareholders of record from September 16, 2022. Steven J. Johnstonchairman and CEO, commented, “The payment of this dividend in October will complete our 62nd year of increasing annual cash dividends. Cincinnati Financial’s excellent financial strength and demonstrated ability to operate long-term success supports regular dividends, our preferred way of returning capital to shareholders.” About Cincinnati Financial Cincinnati Financial Corporation primarily offers business,…

Some of this week’s winning stocks aren’t exactly the favorites of Wall Street pros. The summer rally lost its momentum in recent days, with the S&P 500 heading for its first losing week in five. However, there have been bright spots, most notably the Kroger grocery stock. The company’s shares were up 6% for the week as of Friday morning, paring gains for the year. Despite the solid performance for the week and the year, Kroger is not well-liked on Wall Street. According to FactSet, just 29% of analysts covering the company have a buy rating on the stock, and…

Warren Buffett at the press conference during Berkshire Hathaway’s shareholder meeting, April 30, 2022. CNBC Warren Buffett’s Berkshire Hathaway received regulatory approval on Friday to buy up to 50% of oil giant Occidental Petroleum. Occidental’s shares rose 10% on the news to above $70 each, pushing 2022 earnings to more than 140%. On July 11, Berkshire filed an application with the Federal Energy Regulatory Commission to buy more of the oil company’s common stock in secondary market transactions. The conglomerate argued that a maximum stake of 50% would not harm competition or diminish regulatory authority. Carlos Clay, acting director of…

Markets could be volatile as investors await what could be a very volatile message from Federal Reserve officials at its annual economic symposium in Jackson Hole later this week. Fed Chairman Jerome Powell speaks at 10 a.m. ET Friday, a highlight of the three-day conference in Wyoming that begins Thursday. Fed watchers expect tough talk from the chairman as he reinforces the central bank’s goal of stamping out inflation and keeping expectations about future price gains under control. To do so, Powell and other Fed officials are expected to signal that they want to keep interest rates higher for a…