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Business

While Millions Lost Jobs, Some Executives Made Millions in Company Stock

The ISS analysis covers top executives whose pay details are included in companies’ proxies, documents that publicly traded businesses file with the Securities and Exchange Commission annually. Proxies provide investors with important financial information and instructions on how to vote on corporate proposals and board appointments.Not all executives have gains on their 2020 grants, because many companies have struggled in the pandemic. In its survey, which covers 2020 grants made by companies in the Russell 3000 stock index, ISS found that 1,675 “named executive officers,” or the executives who appear in proxies, had gains while 1,388 had losses, as of Wednesday’s closing stock prices. The average appreciation was nearly $1.5 million and the average loss $827,000.The chief executives ...

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Business

Stocks Slide Again as a Promising Week Turns South

The form that speculation has taken may have added to the fragility in the market.In recent months, investors have bought large amounts of a financial instrument that enables them to bet on stock prices without investing as much money as when buying actual stocks. Analysts say the greater use of these instruments, known as options, helped push tech stocks to new heights.The Financial Times reported on Friday that SoftBank, a Japanese conglomerate that has a history of making large, risky investments, had been a big buyer of options linked to the rising tech stocks. SoftBank declined to comment to The New York Times.In fact, many investors have been buying up these options in recent months, said Matthew J. Maley, chief market strategist at Miller Tabak. That causes the financial firms wh...

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Business

Profits Rebound at Warren Buffett’s Berkshire Hathaway

The strong recovery in the stock market — and a surge in the value of Apple’s stock, in particular — drove a rebound in profits for Warren E. Buffett’s Berkshire Hathaway in the second quarter.Berkshire on Saturday said it earned $26.4 billion in the second quarter, a turnaround from a $49.7 billion loss in the first quarter, when a plunge in the stock market, prompted by the coronavirus outbreak, caused huge paper losses in Mr. Buffett’s giant stock portfolio. In the second quarter of last year, Berkshire earned $14.2 billion.The weak economy, caused by the pandemic and business interruptions, weighed on many of the companies that the conglomerate owns. Berkshire warned that the pandemic could lead to changes in the economy that could negatively affect its operations. “We cannot reliab...

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