
Vista's KnowBe4 Cuts Borrowing Costs With Direct Loan Refinance
A group of lenders led by JPMorgan Chase & Co. and KKR & Co. on Tuesday priced the offering for KnowBe4 with an interest rate of 3.75 percentage points over the floating-rate benchmark and at a discount of 99.75 cents on the dollar for the new seven-year loan, the people said.
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23 minutes ago
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Buffett's Berkshire takes $3.8 billion Kraft Heinz write-down
STORY: Warren Buffett's Berkshire Hathaway said it took a more than $3.7 billion write-down on its stake in Kraft Heinz in the second quarter... an acknowledgment that the decade-old investment hasn't worked out. The write-down followed the struggling food company's announcement that it would consider strategic alternatives, which could include a breakup. It's Berkshire's second write-down for Kraft Heinz, following a $3 billion hit in 2019. Buffett acknowledged at the time that Berkshire overpaid in the 2015 merger of Kraft Foods and H.J. Heinz, one of his biggest investment missteps. Kraft Heinz has suffered as more shoppers favor healthier and private-label alternatives. Its approximately 200 brands include Oscar Mayer, Kool-Aid, Velveeta and Jell-O. Berkshire also reported a 4% decline in quarterly operating profit as insurance underwriting premiums fell. The conglomerate signaled it remains cautious about market valuations amid uncertainty about tariffs and growth in the broader economy. Related videos Europe's most expensive city revealed, as living costs near £3,500 per month £50k in savings? Here's how to unlock up to £4.5k in passive income overnight How will the Lloyds share price be affected by today's Supreme Court ruling? Meet the 75p dividend stock with a higher yield than Legal & General shares Shares of Berkshire have fallen more than 12% and lagged the S&P 500 by about 22 percentage points since Buffett, who's almost 95, announced in May that he would step down as CEO at year's end. Vice Chairman Greg Abel will succeed him, though Buffett will remain chairman. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
36 minutes ago
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Alabama farmer sees new interest within days of Trump's tomato tariff — and says former trade deal ‘never worked' for US
With President Trump's latest tariff announcement, the price of tomatoes could soon be going up in the U.S. On July 14, the Trump Administration announced a 17% tariff on tomatoes imported from Mexico, ending a decades-long trade deal that kept the price of importing tomatoes down in the U.S. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it 'Mexico remains one of our greatest allies, but for far too long our farmers have been crushed by unfair trade practices that undercut pricing on produce like tomatoes,' said U.S. Secretary of Commerce Howard Lutnick in the press release. 'That ends today.' And while some Americans may not be in support of additional tariffs levied against America's international trade partners, several U.S. farmers stand in strong support of Trump's latest trade move. 'Been two days now and we've actually had a lot more calls' For decades, U.S. and Mexican tomato operations worked under a trade agreement that allowed for relatively easy importation of Mexican tomatoes into U.S. markets. The deal was meant to protect American tomato farmers, but many believe the old trade agreement didn't do enough. 'There's been loopholes that the Mexican tomato producers have taken advantage of and continue to price dump, or lower the prices below the cost of production here in the United States and in Alabama," Blake Thaxton, executive director of the Alabama Fruit and Vegetable Growers Association, told WVTM 13 News. Chad Smith of Smith Tomato Farms in St. Clair County, Alabama echoed Thaxton's concerns with the old trade deal with Mexico. 'If they send the tomatoes over and it's supposed to be a set price and they need to move tomatoes, well, they may just give a load of bell peppers for free for them to take the tomatoes. So, it's never really worked,' said Smith. American tomato farmers had long felt as if they were hard-pressed to compete with the imports from Mexico, but several of them now see better times ahead with Trump's latest tariff news. 'It's only been two days now and we've actually had a lot more calls from people who have an interest in doing business," said Smith. 'And the price hasn't even changed.' As for Thaxton, he believes the potential of a sustainable future for U.S. tomato farmers is important. 'Food security is national security, and we need to be able to produce our own food here in the United States,' said Thaxton. Read more: Nervous about the stock market in 2025? Find out how you can How the new tariff may affect your wallet While some American farmers are hopeful that the tomato tariff will impact their bottom line in a positive way, there's a concern that the changing policy will lead to higher prices at the grocery store. After all, the costs of producing tomatoes are higher in the U.S., thanks in part to American farms paying their workers up to 10 times more per hour than farm workers in Mexico. Thaxton believes the rising tomato costs won't be too dramatic, but other experts appear to be more concerned. In fact, some predict the new tomato tariff could push prices up by 10%. Since American farms face significantly higher production costs than Mexican growers — this includes wages, land, regulation, insurance, property taxes and equipment — these costs may be passed along to American consumers at the grocery store. At this moment, it's tough to predict the exact outcome that the tariff will have on the U.S. tomato market. While it looks like the tariff could help American farmers, it's unclear whether or not it will help American wallets. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 simple ways to grow rich with real estate if you don't want to play landlord. And you can even start with as little as $10 Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Yahoo
an hour ago
- Yahoo
Tim Cook reportedly tells employees Apple ‘must' win in AI
Apple CEO Tim Cook held an hourlong all-hands meeting in which he told employees that the company needs to win in AI, according to Bloomberg's Mark Gurman. The meeting came after an earnings call in which Cook told investors and analysts that Apple would 'significantly' increase its AI investments. It seems he had a similar message for Apple employees, reportedly telling them, 'Apple must do this. Apple will do this. This is sort of ours to grab.' Despite launching a variety of AI-powered features in the past year under the Apple Intelligence umbrella, the company's promised upgrades to its voice assistant Siri have been significantly delayed. And Cook seemed to acknowledge that the company has fallen behind its competitors. 'We've rarely been first,' he reportedly said. 'There was a PC before the Mac; there was a smartphone before the iPhone; there were many tablets before the iPad; there was an MP3 player before iPod.' But in his telling, that didn't stop Apple from inventing the 'modern' versions of those products. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data