Bank of America Chairman and Chief Executive Brian Moynihan has been quietly retooling the bank while working to end legal problems.» Read More
Oct 20- International Business Machines Corp reported a marked slowdown in business in September and abandoned its 2015 operating earnings target on Monday, as weak client spending and a slumping software sector weighed down quarterly revenue. IBM shares fell nearly 7 percent to a three-year low, a blow for legendary investor Warren Buffett whose Berkshire...
NEW YORK, Oct 20- Dan Fuss, vice chairman and senior portfolio manager at Loomis Sayles, said he purchased some below investment-grade credits during last week's sell-off at "reasonably priced levels," bringing his portfolio cash levels down to 22 percent from 26 percent. "We bought some at reasonably priced levels but not fantastically cheap," said Fuss, who helps...
Mark Cuban bought $17 million worth of Netflix. What's more important is that he started his bullish positioning through options.
At its current levels, natgas is about $1.50 a gallon cheaper than diesel fuel, according to the U.S. Energy Information Administration. The slower-than-expected adoption has forced key manufacturers, including General Electric Co and Caterpillar Inc, to focus on niche markets for their engines while they wait for higher-margin customers such as railways...
LONDON, Oct 16- Warren Buffett, the billionaire chairman and chief executive of conglomerate Berkshire Hathaway, has cut his vehicle's stake in troubled British grocer Tesco to below 3 percent, according to a stock market notification. The filing, published on Thursday, said that on Oct. 13 Berkshire reduced its Tesco holding to "less than 3 percent."
LONDON— Warren Buffett's Berkshire Hathaway has reduced its stake in British retailer Tesco to under 3 percent, offering a fresh slap to the struggling company. Buffett's move, revealed in a regulatory filing Thursday, was not unexpected. He told CNBC this month that his investment in the supermarket giant was "a huge mistake by me."
CHICAGO, Oct 13- Shares of No. 3 U.S. railroad CSX Corp rose nearly 10 percent on Monday following a report of a rebuffed takeover bid by Canadian Pacific Railway Ltd, but analysts said any such deal would face significant regulatory and other hurdles. According to the report in the Wall Street Journal late on Sunday, the No. 2 Canadian railroad made a bid last week for...
NEW YORK, Oct 10- Blackstone Group LP said on Friday it would spin off its advisory units into a company headed by star Wall Street investment banker Paul Taubman, to avoid potential conflicts of interest in the sprawling private equity empire. The new publicly traded company could be valued at $1 billion to $2 billion, a person close to Blackstone said.
NEW YORK— Ice cream and fast food chain Dairy Queen is the latest retailer to reveal a hack of its customer data. It's also the parent of the Orange Julius chain, and one stand-alone Orange Julius store was breached. Dairy Queen said there's no evidence Social Security numbers, card PIN numbers or email addresses were stolen.
TORONTO, Oct 7- U.S. billionaire investor Wilbur Ross is looking at investing in the Canadian and U.S. energy sectors, betting a long-term recovery in oil prices will boost the fortunes of small and mid-cap companies whose shares have been battered since June. Ross, who made his name by snapping up out-of-favor assets ranging from banks to textile firms, told...
Laguna Niguel, Calif., Oct 7- Billionaire investor Warren Buffett on Tuesday predicted Democrat Hillary Clinton would run for the U.S. presidency in 2016 and win. "Hillary is going to run," said Buffett, the chairman and chief executive of conglomerate Berkshire Hathaway Inc, speaking at Fortune's Most Powerful Women Summit in Laguna Niguel, California.
OMAHA, Neb.— Billionaire Warren Buffett says he's confident Hillary Rodham Clinton will run for president and win the job. Buffett was speaking Tuesday at Fortune magazine's Most Powerful Women conference in Laguna Niguel, California. Buffett is chairman and CEO of the Omaha, Nebraska, based Berkshire Hathaway conglomerate.
NEW YORK, Oct. 6- Ever wondered when the next financial crisis will be? That is the not-so-subtle subtitle of Jim Rickards' bestselling book, "The Death of Money. "As you might gather, the portfolio manager at investment-management firm West Shore Group doesn't foresee a smooth ride ahead for investors.
The man known as America's greatest investor isn't bothered by stock market volatility.
Berkshire Hathaway's CEO Warren Buffett pushed back against a recent study that said his company doesn't protect LGBT employees.
Do user experience product designs justify Silicon Valley’s eye-popping valuations? Some say yes, and that user-friendly products are key to raising capital.
Billionaire Warren Buffett says he made a big mistake investing in Tesco.
Buffett's newest acquisition is a great opportunity, "The Profit" host Marcus Lemonis said.
Car dealerships have created vast personal wealth for countless American families. Who are these car kings?
Thursday's Good, Bad and Ugly is all Warren Buffett, talking about a bet he made, how he doesn't like bonds, and his big regret.