Investors have sued Netflix for compensation for falling stock prices, and Warren Buffett’s holding company has increased its stake in oil company Occidental – these and other important news for the morning of Thursday, May 5, in our daily review.

A Texas-based investment fund has sued the streaming video company on behalf of Netflix shareholders in district court in San Francisco. The investors accuse the company of misleading them by failing to notify them in a timely manner about a decline in the number of subscribers to the service. In the lawsuit, they demanded they be reimbursed for the losses they suffered as a result of the company’s stock price decline from October 19 last year to April 19, 2022, Reuters reports.

Warren Buffett’s investment holding Berkshire Hathaway bought about 5.9 million more shares of Occidental Petroleum and now owns about 142.26 million common shares. This is stated on the website of the U.S. Securities and Exchange Commission (SEC). At the rate at the close of trading on May 4, such a package was worth $8.76 billion. The purchases were made on May 2 and 3 at prices ranging from $55.9957 to $58.3745 per share. In total, the financial conglomerate paid about $336 million for the newly purchased securities of the oil producer.

Chinese authorities have decided to conduct a large-scale check on the stability of the economy amid concerns about sanctions for cooperation with Russia, The Guardian reported, citing sources. The newspaper’s sources say that the stress test began back in late February. According to The Guardian’s sources, the test involves key government agencies – from the banking sector to international trade regulators.

Japan will not impose an embargo on Russian oil in the near future, as previously proposed by European Commission head Ursula von der Leyen. This was announced by Japan’s Minister of Economy, Trade and Industry Koichi Hagiuda at a press conference, reports the Kyodo news agency.

Lukoil received 50% of LLC Meretoyakhaneftegaz, writes “Kommersant” with reference to the data of “SPARK-Interfax”. The remaining 50% remained with Gazprom Neft. Thus, the companies have completed the creation of the joint venture. In December 2021, the companies signed an agreement on the purchase and sale of 50% in the authorized capital of Meretoyakhaneftegaz. The value of the transaction amounted to RUB 52 bln.