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  The 25 crew members of a Greek-owned and flagged oil tanker have been rescued by a European warship in the Red Sea after multiple attacks on Wednesday. The Sounion, which is carrying 150,000 tonnes of crude oil, was first hit by gunfire from two small boats which approached it 77 nautical miles (143km) west of the Yemeni port of Hudaydah, the UK Maritime Trade Operations (UKMTO) office said. Later, the ship was struck by three unidentified projectiles, which sparked a fire and left it without engine power, it added. No group has claimed responsibility for the attack, but US officials blamed Yemen-based Houthis. The group has launched multiple attacks on shipping in the Red Sea. On Thursday, EU's Red Sea naval mission said one of its ships had destroyed an unmanned surface vessel (USV) as it rescued all of those on board and transported them to Djibouti. “The MV Sounion now represents a navigational and environmental hazard,”  EUNAVFOR warned . “It is essential that everyone ...

President Biden announced Sunday that he is   dropping out of the 2024 presidential race   and   threw his support   behind Vice President Kamala Harris.  "While it has been my intention to seek reelection, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as president for my term,"  Mr. Biden posted  in a statement on social media.  Mr. Biden said he would address the nation later this week. Shortly after the announcement, he endorsed Harris for the Democratic nomination,  although Mr. Biden cannot appoint  a nominee. A source familiar said Mr. Biden and Harris spoke multiple times earlier Sunday ahead of his announcement. There was an emergency meeting of senior Democratic National Committee members happening Sunday.  "My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President," Mr.  Biden posted on social m...

  Berkshire Hathaway sold about 33.9 million shares of Bank of America for around $1.48 billion over multiple transactions this week, a regulatory filing showed. After the sale, Berkshire owned about 999 million BofA shares. Berkshire is one of the Charlotte, North Carolina-based lender's largest shareholder. It also invests in several other banks, including Wells Fargo & Co  (WFC.N)] Buffett had invested $5 billion in the bank in 2011 in exchange for preferred stock and the right to buy common shares, providing a vital signal of confidence in the lender after the financial crisis. The cash infusion had quelled doubts about whether the bank had enough capital, and its shares soon surged, creating a massive paper profit for Berkshire. Buffett eventually used those rights and additional share purchases to build up a stake that swelled into one of Berkshire’s largest stock holdings. The billionaire’s lengthy investment has also served as a vote of confidence in the stewardshi...

An IT issue caused by a faulty update is began wreaking havoc with Windows machines worldwide early Friday morning, knocking companies and banks offline and grounding planes at various airports. The problem appears to have been caused by an update from cybersecurity provider CrowdStrike. The issue seems to put affected machines into a recovery boot loop that prevents them from starting properly. CrowdStrike is used by businesses around the world, including banks and airports, and the resulting chaos is making global headlines. As a result of the update, machines failed to load this throughout the morning of July 19, causing the Blue Screen of Death (BSOD) to appear and knocking countless systems offline. While CrowdStrike says it has implemented a fix to the fault that was rolled out overnight, this will only stop more machines from crashing. It can't help those already affected and it remains to be seen just how much damage has been done once the dust settles. As the day went on, ...

  Fundamental vs. Technical Analysis: An Overview In trading, investing, and finance, two approaches help investors analyze markets and securities: fundamental and technical analysis. Each helps evaluate investment opportunities, and many traders blend both for a more comprehensive view. Fundamental analysis focuses on the quality of an asset, while technical analysis looks at market trends as an indicator of value. What Is Fundamental Analysis? Fundamental analysis is used in finance to evaluate the intrinsic value, the real worth, of a security or whole sectors and markets. For a company stock, fundamental analysis is used to scrutinize income statements, balance sheets, and cash flow statements. Fundamental analysis is generally for those looking for long-term value. Hence, those performing this kind of analysis are trying to calculate how much the company will make in the future against its present net value. A stock trading below the company's intrinsic value is generally...