Finance Knuggets
Sep 07, 2024
I recently heard that Berkshire Hathaway has outperformed the S&P 500, according to a fund manager’s report. This suggests that Warren Buffett’s company has had a strong performance in the market.
Additionally, there was news about Steward Health leaving Massachusetts after closing two hospitals and transferring six more to new operators. This has sparked criticism from senators and raised questions about a 2016 sale-leaseback transaction that created profits for private equity and burdensome obligations for Steward.
In another development, California’s legislature passed a bill to give the state the ability to block private equity acquisitions of health care facilities or providers. This reflects a growing concern about private equity’s role in the health care sector.
Furthermore, Salesforce has agreed to acquire Own Co., a provider of data protection and management solutions, for $1.9 billion in cash. This signals Salesforce’s return to large dealmaking and marks its largest acquisition since buying Slack in 2021.
Lastly, the U.S. economy added 142,000 jobs in August, slightly missing economist expectations, while the unemployment rate ticked down to 4.2%. This data will likely influence the Federal Reserve’s decision on a potential interest rate cut later this month.
These are some of the key developments in the financial and market landscape that have been making headlines recently.
Stay Well!