Singaporean Prime Minister Lawrence Wong has urged the public to remain calm and united following a knife attack on Father Christopher Lee , a priest at St Joseph’s Church in Bukit Timah on Saturday. In a social media post, Wong expressed his shock and sadness over the attack, emphasizing that violence has no place in the country. He also called for support and solidarity, stating, "We must uphold the safety and sanctity of our places of worship." The incident occurred during the 5:30 pm Mass , when a 37-year-old Singaporean Sinhalese man , armed with a knife, attacked Father Lee. Fortunately, several parishioners managed to disarm the suspect before he could cause further harm. The assailant, who has a history of serious offenses and drug-related crimes, was arrested by police. Preliminary investigations suggest the attack was not terrorism-related, and the suspect acted alone. Father Lee is currently receiving treatment at National University Hospital and is in stable co
Warren Buffett’s Berkshire Hathaway Inc. disclosed its third disposal of Bank of America Corp shares this month, reducing its massive stake in the lender by more than $3 billion.
From July 25 to 29, Berkshire sold $767 million of the stock, according to a regulatory filing Monday. This, along with previous sales, decreased Berkshire's holdings by 6.9% this month. Despite the reduction, Berkshire still holds almost 962 million shares, valued at $39.5 billion at Monday’s closing price.
This marks Buffett’s largest pullback from a long-held investment that has symbolized confidence in Bank of America CEO Brian Moynihan. The stock has risen 22% this year, allowing the 93-year-old investor to cash out profitably.
Neither Berkshire nor Bank of America representatives commented on the sales.
Buffett's initial investment in 2011, during a tumultuous period for the bank following the 2008 financial crisis, included $5 billion in preferred stock and the right to buy common shares. His endorsement alleviated public doubts and increased the stock value, resulting in substantial profits for Berkshire.
Over the following decade, Berkshire continued to invest, eventually surpassing a 10% stake with regulatory approval. Last year, while adjusting other financial-industry investments, Buffett expressed his intention to retain his stake in Bank of America, praising CEO Brian Moynihan.
Key Takeaways:
- Berkshire Hathaway sold over $3 billion worth of Bank of America shares this month.
- Latest sales reduced Berkshire's stake by 6.9%.
- Despite reductions, Berkshire still holds shares worth $39.5 billion.
- Buffett initially invested $5 billion in Bank of America in 2011, supporting the bank during a challenging period.
- Stock has risen 22% this year, allowing profitable cash-out.
- Buffett previously indicated a strong preference to retain his stake in Bank of America.
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