STORY: Shares of Citigroup, the newly named Paramount Global and Texas-based specialty materials company Celanese all soared on Tuesday.What do these three, very different companies have in common?They all got a vote of confidence from Warren Buffett, after his Berkshire Hathaway revealed new investments in the first quarter, taking advantage of a slumping stock market to put $51 billion to work that had largely been sitting in cash. A regulatory filing describing Berkshire's equity investments as of March 31 showed the Oracle of Omaha invested nearly $3 billion in Citigroup.The filing also showed Berkshire took new stakes in Ally Financial, insurance holding company Markel and drug distributor McKesson. Shares of those three companies also jumped on the news.But while the billionaire giveth, he also taketh away.Berkshire said it sold nearly all of an $8.3 billion stake in Verizon that it had amassed in late 2020.The conglomerate also finally exited Wells Fargo, a 33-year-old investment that Buffett soured on after finding it too slow to address revelations that employees had mistreated customers, including by opening unwanted accounts. On April 30, Buffett said investors were too focused on flashy stocks, causing markets at times to resemble a casino, allowing him to focus on stocks he understands and which add value. The filing also showed that more than three-fourths of Berkshire's $390 billion equity portfolio was in American Express, Apple, Bank of America, Chevron, Coca-Cola and Kraft Heinz.
Footage from St Louis, Missouri, showed supermarket shelves nearly empty of baby formula as the FDA worked to ease a nationwide shortage of the staple.Video posted to Instagram by user @80stoyhunter shows depleted shelves at a local Schnucks store in St Louis on May 14, they told Storyful.On Monday, the FDA and Abbott Laboratories reached an agreement to reopen a shuttered Abbott facility and resume production of baby formula to ease the shortage. The Sturgis, Michigan, factory was shut down in February after an investigation into the deaths of two infants led to the discovery of cronobacter, a deadly bacteria, in the formula plant.The agreement said production would resume “within two weeks,” which would translate to formula on the shelves in “six to eight weeks.” Credit: @80stoyhunter via Storyful
Health Secretary Sajid Javid describes the UK's support of Ukraine as "unwavering" and announces that they have delivered "over 11 million" medical items to them. He says this includes things like "intensive care equipment" and has helped to save the lives of "thousands" of Ukrainians.
Rangers and Eintracht Frankfurt fans enjoy Seville as they await the Europa League final
Massive smoke clouds from the combined Calf Canyon/Hermit’s Peak fire were seen from nearby Santa Fe, New Mexico, as red flag warnings remained in place for parts of the state on Tuesday, May 17.This timelapse footage taken by Jackson Mathey shows billowing smoke near Santa Fe on Monday evening. The wildfire became the largest in the state’s history, local media said on Monday.The Hermits Peak/Calf Canyon wildfire burned 299,565 acres (468 square miles) and was 26 percent contained as of May 17, according to fire officials. Credit: Jackson Mathey via Storyful
Jamie Vardy and Rebekah Vardy, followed by Wayne and Coleen Rooney, leave the Royal Courts of Justice after the sixth day of the trial dubbed 'Wagatha Christie'.
STORY: Kyiv said on Tuesday it had ordered its full garrison to evacuate, bringing an apparent end to the bloodiest battle in Europe for decades.Reuters saw buses leave the steelworks overnight and five of them arrive in the Russian-held town of Novoazovsk, where Moscow said the wounded would be treated.Russia said at least 256 Ukrainian fighters had "laid down their arms and surrendered," including 51 severely wounded. Ukraine said 264 soldiers, including 53 wounded, had left.
STORY: What is ‘The Great Replacement’?The conspiracy theory is popular among white nationalists[Dr. Lawrence Rosenthal, The Berkeley Center for Right-wing Studies]"Replacement theory is the idea that white populations, both in North America - here in the USA - and in Europe are being replaced by minority populations, largely through immigration."It believes that leftist and Jewish elites are engineering the ethnic and cultural replacementof white populations with non-white immigrants that will lead to a 'white genocide'The teenage gunman of a mass shooting in Buffalo, New York appears to have written a 180-page manifesto outlining 'The Great Replacement' theory He was charged with shooting at more than a dozen, mostly Black, people[Benjamin Crump, Civil rights attorney]"This race replacement theory that he talked about in this manifesto. There are people who are pushing this hatred on these young people, indoctrinating their minds."What are its origins?The theory is thought to have roots in early 20th century French nationalismWhite ‘replacement theory’ and the idea of a ‘white genocide’ were a pillar of Nazi Germany's ideologywhich pointed to Jews as the single most dangerous threat to white civilizationWhat is its connection to mass shootings?In 2019, the gunman who killed more than 20 people in El Paso, Texas decried a ‘Hispanic invasion’ of the U.S. in a manifesto explaining his actionsIn 2018, anti-Semitism was behind the shooting at the Tree of Life synagogue in Pittsburgh when a gunman yelling ’All Jews must die’ opened fire on worshippersAt a 2017 ‘Unite the Right’ rally in Charlottesville, Virginia some chanted ‘Jews will not replace us!’ in reference to the conspiracy theoryThe Buffalo shooting also drew parallels with an attack on two mosques that took place in New Zealand in 2019Like the Buffalo attack, the gunman livestreamed the shooting and distributed an online manifesto espousing far-right views[Benjamin Crump, Civil rights attorney]"We intend to hold those responsible for the root of the hate, the people who curate the hate, the people who inspire the hate on websites and internet services and cable news stations."
Lightning flashed over Sherwood Park in Alberta, Canada, on the night of Monday, May 16.Video filmed by Leesila Dawkins shows lightning bolts in Sherwood Park, just outside Edmonton.Rain is forecast in the area through Thursday. Credit: Leesila Dawkins via Storyful
The Prince of Wales and the Duchess of Cornwall touch down at St John's International Airport on the Canadian island of Newfoundland. The pair are visiting Canada as part of the Queen's Platinum Jubilee celebrations.
Footage from Salt Lake City, Utah, showed supermarket shelves nearly empty of baby formula as the FDA worked to ease a nationwide shortage of the staple.Video posted to Instagram by the group Utahzolanos shows empty shelves at a Walmart store in Salt Lake City on May 15, they told Storyful.On Monday, the FDA and Abbott Laboratories reached an agreement to reopen a shuttered Abbott facility and resume production of baby formula to ease the shortage. The Sturgis, Michigan, factory was shut down in February after an investigation into the deaths of two infants led to the discovery of cronobacter, a deadly bacteria, in the formula plant.The agreement said production would resume “within two weeks,” which would translate to formula on the shelves in “six to eight weeks.” Credit: Utahzolanos via Storyful
Shadow Climate Secretary Ed Miliband tells the House of Commons that a "massive u-turn" from the government on a possible windfall tax on energy companies is "lumbering slowly over the hill". He tells Chancellor Rishi Sunak to "swallow his pride and get on with it" but goes on to characterise Sunak's decisions so far as "wrong, out of touch, and unfair".
STORY: You may not have to grab your wallet or phone to pay when you go to a check out in future.That’s because Mastercard has rolled out a new way of paying a bill….and it’s with your face.The U.S. finance giant’s Biometric Check Out Programme uses the same technology that already unlocks your phone.Ajay Bhalla is President of Cyber and Intelligence at Mastercard.“It's a cool new technology which allows consumers to pay with a smile, their face or just wave. So you can forget the clunkiness of taking your wallet out or your devices out, or cards out. Just do your shopping. You go to the checkout and just play with your face. It's as simple as that.”The idea of biometric pay raises obvious privacy questions.Mastercard said it had given apps a set of standards they must comply with to keep security and privacy safe.The company also argued getting rid of passwords could make digital transactions safer.But not everyone agrees we should share our biometric data.Amos Toh is a senior researcher with Human Rights Watch.“The uniqueness of our biometric identifiers presents unique harms. If they are being stolen as part of a data breach or if they are compromised in any other way it's very difficult to recover that biometric identifier and to safely protect it again.”Mastercard said their first pilot would launch this week in Brazil with the Payface app. The company said it’s also working on other similar projects.
Foreign Secretary Liz Truss tells the House of Commons of the government's intention to introduce legislation in the near future to "make changes" to the Northern Ireland Protocol. She explains her "preference" still remains a "negotiated solution" with the EU and that they remain "open" to further talks.
Health Secretary Sajid Javid said the Government's 10-year plan to tackle dementia will have a big focus on prevention, at the Alzheimer’s Society annual conference in London.
STORY: Residents of the Vasant Vihar area of Indian capital New Delhi resorted to locking water containers with chains and padlocks. Water tankers have been keeping communities supplied but residents said there was not enough to go around.The crisis is just as severe in central city of Bhopal, Madhya Pradesh. One resident, Vikas, said water supplies had been offline for nearly a week and the quality of the scant water available was "unusable". Residents were seen lining up at a hand pump to get water, with Vikas pointing out that if the pump failed, the area would be in a "real mess".Water crises are not a new phenomenon in India. Many parts of India often experience water shortages, especially in the months of May and June - the country's hottest months. Parts of the India's north, south and west have already registered temperatures in excess of 40 degrees Celsius.
A group in Long Island gave away baby formula for free on Tuesday, May 17, as a shortage left supermarket shelves sparse across the country.Video streamed live by Angels of Long Island shows packages of formula ready to be picked up in Patchogue on Tuesday morning. The nonprofit organization, whose mission reads “Neighbors helping neighbors,” was offering one free formula package per family.On Monday, the FDA and Abbott Laboratories reached an agreement to reopen a shuttered Abbott facility and resume production of baby formula to ease the shortage. The Sturgis, Michigan, factory was shut down in February after an investigation into the deaths of two infants led to the discovery of cronobacter, a deadly bacteria, in the formula plant.The agreement said production would resume “within two weeks,” which would translate to formula on the shelves in “six to eight weeks.” Credit: Angels of Long Island via Storyful
A look at the latest updates from Russia's war with Ukraine as the evacuation of the Azovstal steel plant continues.
STORY: Clashes erupted in Libya’s capital on Tuesday (May 17) after a failed attempt by the parliament-appointed prime minister Fathi Bashagha to take power from his rival administration. Bashagha had entered Tripoli overnight but withdrew as fighting rocked the capital, his office said.In the calm of the morning, burnt out cars were seen on the streets.His rival and the head of the country, Tripoli-based Abdulhamid al-Dbeibah, toured parts of the city hours after the clashes, to survey the damage.The crisis raises fears that Libya could be pushed back into prolonged fighting after two years of comparative peace, or returning it to partition between the eastern-backed government of Bashagha and a Tripoli administration under Dbeibah.Libya has held little security since a 2011 NATO-backed uprising that ousted Muammar Gaddafi.In 2014 it split between rival eastern and western factions before a 2020 truce that brought it under Dbeibah's fragile unity government.A plan to hold an election in December collapsed amid arguments among major factions over the rules and the parliament, which had sided with the east during the war, moved to appoint a new administration.Dbeibah rejected the parliament's moves saying his administration was still valid and he would only hand over power after an election.Bashagha has repeatedly said he would enter Tripoli without violence. His previous attempts to do so ended with his convoy blocked by rival factions.Diplomacy to resolve the crisis or lay the ground for new elections is making slow progress.With neither side apparently able to establish a decisive military advantage across the country, Libya now seems set for a longer period of deadlock, with Dbeibah firmly entrenched in Tripoli and his foes unable to take it.
The Home Secretary was told to “put her money where her mouth is” when she was confronted by police over concerns about pay. One officer, a single mother who had worked in policing for more than two decades, asked Priti Patel if she would be able to “survive” on £1,200 or £1,400 a month.
Prince Edward takes a front seat for the first official journey on the Elizabeth Line after he joined his mother the Queen in opening the newest branch of the London Underground at Paddington station. Accompanied by Prime Minister Boris Johnson, Mayor of London Sadiq Khan, and Transport Secretary Grant Shapps, Edward is given a brief tour of the new section of Tottenham Court Road station before joining the driver in the cab as it sets off for Paddington.