- Taiwan Semiconductor Manufacturing Company Ltd (NYSE:TSM) shares are trading lower Monday since Warren Buffett’s Berkshire Hathaway disclosed paring its remaining stake in the leading contract chipmaker.
- On Monday, Berkshire Hathaway disclosed selling its remaining stake in TSMC.
- In February, Berkshire revealed trimming its position in TSMC.
- During Berkshire’s annual meeting in May, Buffett shared concerns over growing tensions between the U.S. and China, influencing him to prefer Japan.
- Interestingly, Macquarie added roughly 78 million new American Depositary Shares (ADRs) of TSMC and ended March with $7.3 billion in the company.
- Fidelity bought 14.1 million new TSMC shares, increasing its bet to nearly $4 billion, Reuters reports.
- Philippe Laffont’s Coatue Management bought 5.9 million shares worth $548.9 million. Tiger Global Management acquired $147.8 million in shares.
- Last week, TSMC tried to dispel customers’ concerns over price hikes fueled by the Ukraine war and emphasized artificial intelligence (AI) and 5G as crucial areas for business growth.
- TSMC shares have gained 16% YTD.
- Price Action: TSM shares traded lower by 0.68% at $85.08 premarket on the last check Tuesday.
Credit Suisse Group Reaches Settlement in French Legacy Case; Fine Comprising a Profit Disgorgement of €65.6M, Payment of Additional €57.4Ml; €115M to French State
Credit Suisse announces today that it has reached a settlement with the Parquet National Financier (PNF) to resolve a legacy matter in relation to an investigation into historical cross-border private-banking services. The settlement provides for a public interest fine comprising a profit disgorgement of EUR 65.6 million and the payment of an additional amount of EUR 57.4 million.
