20th of February – Baked Beans

The Federal Bureau of Investigation (FBI) is joining an investigation of suspicious trades of the Heinz Company’s shares. The firm has recently been bought for $23 billion by Warren Buffett’s Berkshire Hathaway fund and 3G Capital after which its share price rose by 20%. Unusual trading activity in the shares was noticed the previous day. The US financial regulator, the Securities and Exchange Commission (SEC), is suing unnamed traders it believes knew about the takeover of Heinz by Buffett’s fund before it was announced. The regulator thinks they made $1.7 million from knowing the company’s shares would become more expensive. There is no implication that Heinz or its new owners have done anything wrong.

Baked Beans

Baked Beans

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