Warren Buffett’s Berkshire Hathaway has made another low dollar deal that is a bit more than it seems.

A second day in a row where a sell off in tech stocks has rattled Wall Street – taking over from weak energy prices as a major concern.

Wall Street has caught up with the full impact of the Grenfell tower fire in London as investors have spent Monday and Tuesday selling down the shares of Arconic, the Alcoa spin-off which produced the cladding panels that seem to have played a major part in the fire consuming the residential high rise.

Foxtel had a rough 2016 dropping around 100,000 subscribers, seeing revenues weaken and profits fall – and copped a $US227 million write down at December 31 by News Corp. And that year to forget was symptomatic of the global pay TV industry where revenues fell for the first time since 2010 and are forecast to keep falling until 2022.

Blackrock, the world’s biggest fund manager has spent $5 billion or more building 5% plus shareholdings in four of Australia’s biggest companies over the past 18 months, with more than $2 billion being spent in the first five and a half months of this year alone – a massive buying that a mockery of continuing broking and media reports (such as in this morning’s Fairfax Media newspapers) about how big global investors are going off Australian shares, and selling.

Eurozone shares fell 0.4% on Friday (the first anniversary of Britain’s vote to leave the EU) but Wall Street managed a mixed to positive finish with the US S&P500 up 0.2%.

This week sees the end of the quarter, half year and financial year for investors and hundreds of Australian companies – all Australian taxpayers, governments and the start of 2017-18 the day after.

Oil prices ended higher on Friday, but the small rise couldn’t stop the fifth weekly fall in a row — oil’s longest run of weekly losses since 2015.

South Australia has taken a leaf out of Scott Morrison’s book and imposed a tax on the big five banks – a move that looks like being a retreat to the stupid days of a myriad of state taxes and duties on banks that lasted through the 1980s and 90s.

Has Warren Buffett saved the jumpy Canadian housing market from a shattering collapse of a highly indebted subprime mortgage lender?

The Reserve Bank of New Zealand has left its key interest rate, the Official Cash Rate (OCR) steady at 1.75% in a carbon copy of the Reserve Bank of Australia’s move and reasoning earlier this month.

Oil prices continued to fell deeper into its latest bear market overnight Wednesday with prices in the US and Europe hitting new multi-month lows.

Australian shares will now face more competition for overseas interest following the decision by the MSCI index group to include some big Chinese stocks in its key emerging markets index.

Normally the Reserve Bank is quite dismissive of the credit ratings agencies such as Standard & Poor’s and Moody’s, viewing them as remote (New York based), out of touch and with conflicts of interest they struggle to resolve about who their clients are – those being downgraded, or investors in the products being rated.

Mixed data from Asia’s two biggest economies and Australia’s two biggest export markets.

The knee jerk reaction from the Amazon bid for Whole Foods in the US hit the Australian market as suspected, with brokers analysts and others sprouting all sort of nonsense and rubbish about what it means down under.

A big test for the Australian stockmarket and the Australian dollar early Wednesday, Sydney time (and for other markets and currencies) when MSCI faces yet another decision on whether to include some of China’s major companies in one of its key global indexes.