Tuesday , December 1 2020

Warren Buffet loses $ 4 billion in a day on the stock market



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According to the stock market results, Warren Buffet lost US $ 4.3 billion in one day when Kraft Heinz, US foods, hit 30% on Friday.

Warren Buffet, the largest shareholder in the Berkshire Hathaway conglomerate with 26% of benefits, has lost $ 4.3 billion in a stock market day, says the CNBC US channel. This American money has lost this loss following a reduction in the shares of the great food Kraft Heinz. Berkshire Hathaway has more than 325 million shares of this company.

Kraft Heinz shares lost almost 20% at the end of the day on the stock market on Thursday, February 21. These results were published against the background of the negative accountant disclosed by the company and the investigation by the US Market Authority, SEC.

This depreciation could also reflect consumer change, which is increasingly concerned about health issues and turns more often to fresh produce at the expense of foods that have been processed, says AFP.

The group also noted requests for information from the US Contract Authority, the SEC, in October 2018, which initiated an inquiry into procurement, "more specifically its practices, procedures and internal controls calculate its supplies, "AFP reported. Kraft Heinz says that she has started an internal survey of activities, with the help of external advisers.

"Our profitability was lower than expected due to unexpected inflation of some costs, plus lower savings than expected," the CEO was awarded Bernardo Hees's group, in the process of releasing results.

In the fourth quarter, as a result of these investigations, the group recorded an increase of $ 25 million in product costs and it was estimated that they were not significant. It is set to implement improvements to internal controls to solve these problems. The group continues to fully cooperate with the SEC and does not expect the result of these investigations to have a significant impact on the current period or any previously published financial statements.

Kraft Heinz, one of the most famous in the United States, a snack and US process group, reported Thursday night in his quarterly results that he had recorded a charge for a $ 15.4 billion deficit in two of the # 39 ; to leading brands, Kraft and the Mayer Oscar products.


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