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After 42 years in the United Kingdom, a Ghanaian man named Nelson Shardey, would have to wait another decade for the Home Office to grant him permanent residency.

The 74-year-old retired newsagent, from Wallasey in Wirral, had for many years assumed he was officially seen as British, but he was told he was not British in 2019 when he applied for a passport so he could go back to Ghana following the d£ath of his mother.

According to BBC, Mr Shardey first came to the UK in 1977 to study accountancy, on a student visa that also allowed him to work.

He married a British woman and moved to Wallasey to run his own business, a newsagent called Nelson’s News. When that marriage ended, he married another British woman and they had two sons Jacob and Aaron.

“Nobody questioned me. I bought all my things on credit, even the house. I got a mortgage. And nobody questioned me about anything,” he said.

Mr Shardey has performed jury service, and in 2007 was given a police award for bravery after tackling a robber who was att@cking a delivery man with a baseball bat…(continue reading on next slide.)

📷: @bbcnews

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Chubb (CB) shares climbed more than 8% in late trading Wednesday evening after a regulatory filing revealed that Warren Buffett’s Berkshire Hathaway (BRK.A) (BRK.B) has taken a sizeable stake in the Zurich-based insurer.

According to the filing, Berkshire’s stake of nearly 26 million shares in Chubb, one of the world’s largest publicly traded property-casualty insurers, had a market value of around $6.7 billion as of March 31, making it the conglomerate’s nineth largest holding.

Berkshire, which also holds GEICO and National Indemnity, among other insurers, has a heavy footprint in the insurance industry, with Buffett recently telling shareholders that "property-casualty insurance (“P/C”) provides the core of Berkshire’s well-being and growth.”

Insurance businesses fit the legendary investor’s “buy and hold” philosophy because they provide a steady source of capital that can be deployed into long-term investments.

Although Berkshire had been building its position in Chubb since 2023, it had not previously disclosed the stake after the Securities and Exchange Commission (SEC) granted the conglomerate's request to keep the holding confidential. Institutional investors may want to withhold disclosing a position to avoid revealing ongoing patterns of buying and selling.

Since bottoming out in June last year, the Chubb share price has continued to track higher, with the trend gathering momentum after the 50-day moving average (MA) crossed above the 200-day MA to form a bullish golden cross signal. More recently, the stock has traded within as ascending triangle, a chart pattern indicating a continuation of the longer-term uptrend. 

Given the stock sits poised to climb to a record high following the Berkshire news, investors can use a measured move to forecast where the stock may be headed next. To do this, measure the distance of the start of the triangle in dollars, about $24, and add that amount to the pattern’s top trendline near $260. This implies a potential move to around $284. .

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Warren Buffett's Berkshire Hathaway (BRK.A, BRK.B) has revealed that insurer Chubb (CB) is the mystery stock that the conglomerate had started building a position in last year but had asked regulators to keep under wraps.

In its quarterly 13F filing with the Securities and Exchange Commission released late Wednesday, Berkshire said that it ended the first quarter with nearly 26 million shares of Chubb valued at about $6.72 billion.

It's unclear why Berkshire had omitted Chubb from its filings for the third and fourth quarters, when it said that it had requested confidential treatment from the SEC for one of its holdings.

The news that Chubb had become part of the Oracle of Omaha's portfolio sent shares of the company sharply higher in after-hours trading Wednesday. Chubb shares were up 8% at around 8:00 p.m. ET.

Insurance is a core business for Berkshire, which owns companies such as GEICO, General Re as well as a number of Berkshire-branded insurance businesses that provide coverage across the spectrum—from auto, to business and home insurance. One illustration of the importance of insurance to Berkshire: Ajit Jain, head of the company's insurance business, was one of only two executives seated at the table with Buffett during Berkshire's annual shareholders meeting.

Berkshire confirmed in the 13F that it sold a large portion of its stake in Apple Inc. (AAPL) and most of its stake in Paramount Global (PARA) in the first quarter. Berkshire had previously disclosed the amount of the cut in its Apple stake, and Buffett had discussed the changes in both holdings at the annual shareholders meeting on May 4.

In the case of Apple, Berkshire cut its stake to around 790 million shares at the end of the first quarter, from 905 million at the end of the fourth quarter. While the cut was significantly more than the 10 million-share reduction in the fourth quarter, Buffett told shareholders that his views on Apple as an investment hadn't changed and that company would continue to be Berkshire's largest holding.

Berkshire sold almost 56 million shares of Paramount, leaving it with about 7.5 million shares as of the end of the first quarter. Some investors had interpreted remarks Buffett made at the shareholders meeting to suggest that the company had exited its Paramount position entirely.

Buffett, known for his buy-and-hold approach to investing, only rarely changes his existing positions in companies.

Among the positions that increased in the first quarter, Berkshire added nearly 22 million shares of Liberty Media's Series C SiriusXM shares and 12.5 millions shares of Liberty Media's Series A SiriusXM shares, for a total of 35 million additional tracking shares of Sirius XM (SIRI). Sirius XM and Liberty Media announced last December that they will convert the tracking shares to SIRI shares, with the conversion expected to complete June 30, 2024.

The only other prior stake that Berkshire increased in the first quarter was Occidental Petroleum Corp. (OXY). Berkshire added about 4.3 million shares in that period, bringing its end-of-quarter total to just over 248 million shares.

Berkshire closed out just a single name in its portfolio in the first quarter: the firm sold off all of its nearly 23 million shares of HP. At the end of the fourth quarter, that stake was worth about $688 million.

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Late Nigerian singer Oladimeji Ilerioluwa Aloba aka Mohbad’s widow, Wunmi, has caused a stir on social media following the disclosure of his autopsy result.

Recall that during a coroner inquest which took place on May 16, 2024, a pathologist gave an update on the late singer’s autopsy and revealed that the cause of his death could not be determined.

Shortly after that, Wunmi took to her Instagram stories to share a photo of her late husband with a simple caption

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The spot price of gold was up 1.3% to $2,387.97 per ounce as of 4:30 p.m. ET Wednesday, after a report showed consumer inflation slowed in April, lifting hopes the Federal Reserve may cut interest rates, which would be bullish for gold.

The Labor Department reported April's Consumer Price Index (CPI) was up 0.3% from the month before, down from the 0.4% gains in both February and March. The year-over-year increase of 3.4% eased from 3.5% in March.

The core rate of inflation, which leaves out volatile food and energy prices, came in at an annual rise of 3.6%, the lowest since April 2021.

A report from the Commerce Department on Wednesday showed retail sales were virtually unchanged in April from the month before, suggesting consumers may be pulling back. Economists had been anticipating a gain of 0.4% after a 0.6% jump in March. Excluding autos and gas, sales declined 0.1% versus the predicted 0.1% advance.

Sales at non-store retailers, which include online purchases, posted the biggest drop of any category at 1.2% versus March.

The economic news led to a shift in expectations of the probability of policymakers reducing interest rates in September, according to the CME's FedWatch Tool based on fed funds futures pricing data. Markets are now pricing in a 75% chance of a rate cut in September, an increase of 10 percentage points from Tuesday.

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A Nigerian lady who loves to read has shared the heartwarming story of how her man proposed to her with a 42-page book. In a post shared on X, the Nigerian lady @totosofcanada mentioned that her man took her to a book-themed restaurant where he proposed. In the book, her fiance wrote about why he loves her and can’t wait to marry her.

At the last page of the book, the man had the ring imputed.

Her post has warmed the hearts of some Nigerians who celebrated her man for being intentional about the way he proposes to his woman.

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