Nov 4, 2018

Berkshire Hathaway is purchasing its own stock in a weakening market

Warren Buffett. Photo: Daniel Zuchnik/WireImage via Getty Images

Warren Buffett's Berkshire Hathaway is purchasing $928 million in its own stock, the Wall Street Journal reports.

Why it matters: Buffett's decision is a rare one, the Journal writes, but one that reflects the state of the market. There is a lack of strong investment opportunities for the company to make with interest rates rising and growth in tech companies slowing as the year comes to a close. This is the first time since 2012 that the company has bought back its own stock, showing a new willingness to return money to its shareholders.

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Situational awareness

Photos: Jeff Kowalsky/AFP via Getty Images; Alex Wong/Getty Images

Catch up on today's biggest news:

  1. Bloomberg campaign says Tennessee vandalism "echoes language" from Bernie supporters
  2. Scoop: New White House personnel chief tells Cabinet liaisons to target Never Trumpers
  3. Trump misrepresents 2020 Russia briefing as Democratic "misinformation"
  4. Bernie Sanders takes aim at Bloomberg: "Trump will chew him up and spit him out"
  5. Nearly half of Republicans support pardoning Roger Stone
  6. Scoop: Lyft acquires cartop advertising startup Halo Cars

Sanders takes aim at Bloomberg: "Trump will chew him up and spit him out"

Photo: Mario Tama/Getty Images

Bernie Sanders told CBS "60 Minutes" that he was surprised by Mike Bloomberg's lackluster performance at Wednesday's Democratic debate.

What he's saying: "If that's what happened in a Democratic debate, you know, I think it's quite likely that Trump will chew him up and spit him out."

Scoop: Lyft acquires cartop advertising startup Halo Cars

Photo: Drew Angerer/Getty Images

Lyft has acquired Halo Cars, a small startup that lets ride-hailing drivers earn money via ad displays mounted atop their cars. Lyft confirmed the deal but declined to share any details.

Why it matters: Ride-hailing companies are increasingly eyeing additional ways to generate revenue, and Lyft rival Uber has been quietly testing a partnership with New York-based Cargo that gives it a cut of the advertising revenue, as I previously reported.