According to documents released by the US Securities and Exchange Commission (SEC), Buffett ‘s Berkshire Hathaway sold Bank of New York Mellon's share worth of more than US$30 million on Tuesday and Wednesday. Before the US stock market slump in early March, Buffett increased his holding of the Bank's shares by US$359 million.
　　In view of BNY Mellon's stock price trend, Buffett had sold the shares at a loss. As Berkshire Hathaway's 11th largest stock holding, BNY Mellon's stock fell 25.7% during the year, rendering Buffett more than US$1 billion of loss so far.To get more news about WikiFX, you can visit wikifx news official website.
　　Data shows that year to date, Buffett ‘s Berkshire Hathaway has lost US$46.5 billion(equivalence of ¥325.5 billion), or 19% of the company's total stock positions. Among Berkshire Hathaway's stock holdings, Bank of America, Wells Fargo Bank, Apple, American Express, United Bank of America, Delta Air Lines, Coca-Cola, JPMorgan Chase, United Airlines, Kraft Heinz and BNY Mellon all saw losses of over US$ 1 billion, with over US$ 6 billion of loss in the company's no.1 holding Apple. Only less than 10 companies' shares, including Moody s, Amazon, Costco, Biogene, and Teva Pharmaceuticals, had been profitable.

The coronavirus pandemic may change many things about the way French car-parts maker Valeo SA operates, but its sprawling global supply chains wont be among them.To get more news about [url=http://activities.wikifx.com/download/index5.html]WikiFX[/url], you can visit wikifx news official website.
　　European leaders have talked of bringing manufacturing back to member countries to avoid the type of crises that quickly followed the initial outbreak in China. The shutdown of auto-parts factories there sent Europe‘s vehicle producers scrambling for replacements to feed assembly lines. Europe's dependence on foreign-made health-care protective gear like masks and gowns also became painfully clear.
　　Yet for corporate leaders like Valeo Chief Executive Officer Jacques Aschenbroich, shortening logistics routes isnt part of his plan to extricate the maker of 8 million components a day from the deep industry slump that has pushed European car sales to record lows.
"Our final customers and auto-parts clients arent ready to pay more if our supply chains were relocated," Aschenbroich said Sunday at the Aix-en-Seine economics conference in Paris. "So if neither of them put a value on the risk, there is no chance that supply chains will be relocated."
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Rather than put them under scrutiny, "we should pay homage to these supply chains that have showed extraordinary resilience after withstanding successive shocks like Fukushima, flooding in Thailand and now Covid-19," Aschenbroich added.
　　In the wake of the global pandemic, which is causing the steepest recession in almost a century, the European Union has proposed a 750 billion-euro ($843 billion) recovery package that could aim to ensure "strategic autonomy" in key sectors and stronger value chains within the EU.
　　European Central Bank Executive Board Member Luis de Guindos and Dutch central bank Governor Klaas Knot have independently argued that companies should consider moving parts of their supply chains closer to home even if that meant higher costs.
At the weekend conference in Paris, ECB President Christine Lagarde said the crisis would lead to changes in manufacturing, with an estimated contraction of supply chains of about 35% and increase in industrial robotization of 70% to 75%.
　　Evidence on the ground suggests a massive shift back to Europe is unlikely in the near-term because of the ever-growing importance of China and the difference in manufacturing costs."I don‘t see a massive relocation," Rodolphe Saade, CEO of CMA CGM SA, the world's third-largest container shipping company, told the conference. While the transporter is seeing greater "intra-regional" volumes within Asia and Europe, he said consumers will "continue to buy televisions and other goods made in China because they are much cheaper to build than in France and elsewhere in Europe."
　　To counter Asian dominance, politicians may have to resort to hard-charging policies and subsidies to convince companies to get on board, as was the case with electric-car batteries. France and Germany have pooled efforts to kick-start a European industry.
　　"Weve managed to build an agreement between governments -- France and Germany -- and companies to face the challenge together," Patrick Pouyanne, head of Total SA, said Saturday at the conference. "It requires significant subsidies."
　　"We‘ve decided that it was worth taking that risk," he said of the oil giant's participation in the project. "Why？ Because one lesson for companies like us isnt relocation, but diversification of supply chains. We know about geopolitical risks, and the need to diversify."
　　The political effort to bring industry home is particularly intense in France. New Prime Minister Jean Castex spent part of Saturday at a semiconductor company where he hammered home the need for more industries to relocate to safeguard jobs. French President Emmanuel Macron has tied roughly 8 billion euros in aid to the struggling auto industry to increasing domestic output.
　　"Industry has fled the country because we didnt take care of it," said Eric Lombard, head of state-controlled financial institution Caisse des Dépôts et Consignations. "Last year, for the first time in 20 years, more factories opened than closed in France. This is the result of proactive measures."

Anti-fiat hedges like gold may surrender in the third quarter if a second wave of the coronavirus hits the global economy and dampens future inflation prospects. Demand for haven-linked assets like the US Dollar may amplify XAU/USDs losses as traders re-allocate capital from relatively illiquid commodities to more frequently-traded currencies like the Greenback.To get more news about WikiFX, you can visit wikifx news official website.
　　Rising unemployment numbers and uncertainty embedded in labor statistics could also magnify the appeal of holding haven-linked assets. The prospect of another lockdown in numerous localities around the United States could further dampen price growth and erode the appeal of gold. Fed Chairman Jerome Powell warned that the road to recovery will be arduous and "long".
　　Furthermore, financial fragility in the corporate debt sector could also hurt gold prices if the market for leveraged loans and other credit derivatives undermine interbank stability. The dramatic widening of spreads on credit default swaps (CDS) for sub-investment grade corporate debt during the global selloff in equity markets in March saw gold prices crater with risk-oriented assets.

　　An erosion of the fundamental circumstances - like reinstates or extended lockdown measures - could destabilize highly-leveraged companies and increase the likelihood of widespread default if their already-thin revenue streams are dried up. In this environment, gold prices could suffer while a premium may be put on the anti-risk US Dollar.