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Warren Buffett

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  • LONDON, Oct 23- The chairman of Britain's biggest grocery chain, Tesco, announced his resignation on Thursday after the company reported a bigger than expected hole in its finances and said accounting transgressions went back further than initially thought. Tesco, Britain's biggest private employer and once the juggernaut of its retail sector, has lost half...

  • Tesco chairman resigns after accounting scandal Thursday, 23 Oct 2014 | 4:25 AM ET

    LONDON— The chairman of Tesco, the world's second-biggest retailer behind Walmart, announced his resignation Thursday amid an accounting scandal in which the company admitted it had overstated its projected profits. "Three immediate priorities are clear: to recover our competitiveness in the U.K., to protect and strengthen our balance sheet and to begin the...

  • Sharp drops in many of the stocks owned by Buffett's Berkshire Hathaway in recent weeks hit the sprawling conglomerate's equity portfolio hard. The loss on seven of those holdings alone totals more than $5 billion provided Berkshire's stakes have remained the same since June 30, the last date for which they were disclosed. Berkshire Hathaway did not respond...

  • IBM no longer a tech company: Mark Cuban Wednesday, 22 Oct 2014 | 10:28 AM ET
    Businessman and TV personality Mark Cuban speaks onstage at TechCrunch Disrupt in San Francisco.

    The billionaire investor also explained why he was a buyer of Netflix stock on last week's dip.

  • Warren Buffett just lost ANOTHER $1B on this Tuesday, 21 Oct 2014 | 9:31 AM ET
    Warren Buffett

    Spare a thought for Warren Buffett, whose portfolio is not doing him any favors this week.

  • 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...

  • Commentary: How to view Mark Cuban's Netflix bet Friday, 17 Oct 2014 | 6:54 PM ET
    Businessman and TV personality Mark Cuban speaks onstage at TechCrunch Disrupt in San Francisco.

    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...

  • Moynihan reshapes Bank of America after legal costs Thursday, 16 Oct 2014 | 9:28 AM ET
    Brian Moynihan

    Bank of America Chairman and Chief Executive Brian Moynihan has been quietly retooling the bank while working to end legal problems.

  • RPT-Buffett cuts Tesco stake to below 3 pct Thursday, 16 Oct 2014 | 6:20 AM ET

    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."

  • Buffett reduces stake in Tesco to under 3 percent Thursday, 16 Oct 2014 | 5:48 AM ET

    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."

  • Warren Buffett's stock pickers are crushing it Tuesday, 14 Oct 2014 | 10:15 AM ET
    Berkshire-Hathaway's Todd Combs and Ted Weschler.

    So far, so good for the stock pickers Warren Buffett plucked from relative obscurity to manage billions of his dollars.

  • 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.

  • A chance to ride with Warren Buffett Friday, 10 Oct 2014 | 8:00 AM ET
    Warren Buffett

    One way for ordinary investors to trade alongside Buffett: Shares of Lithia Motors, one of the country's largest car dealership chains.

  • 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.

  • 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.

  • Buffett on stocks: 'Look at them as a business' Sunday, 5 Oct 2014 | 1:00 PM ET
    Warren Buffett

    The man known as America's greatest investor isn't bothered by stock market volatility.