NEW YORK, March 1- Warren Buffett's conglomerate Berkshire Hathaway posted a record profit in 2013, jumping 31 percent over the previous year, the company said in its annual report, released on Saturday. Net income rose to $4.99 billion in the fourth quarter, or $3,035 per Class A share, from $4.55 billion, or $2,757 per share, a year earlier.
Feb 28- Blackstone Group LP Chief Executive Stephen Schwarzman's earnings from dividends and pay soared by 75 percent to $374.5 million in 2013, underpinning his firm's strong profits in real estate, private equity, credit and hedge funds, the company's annual report showed on Friday.
CNBC's Tyler Mathisen looks ahead to what are likely to be next week's top business and financial stories.
Feb 28- NII Holdings Inc, which provides telecom services under the Nextel brand in Latin America, lost more than half its market value after the company reported a 22 percent drop in quarterly revenue and forecast slower user growth in Mexico. NII reported a net loss of 390,000 subscribers in Mexico, its second biggest market, in the fourth quarter ended Dec. 31.
Feb 28- Citigroup Inc said on Friday it has discovered fraud in its Mexico subsidiary and is reducing its previously reported 2013 net income by $235 million. The announcement comes after Citigroup shares have fallen in recent weeks on concerns that slowing growth in emerging markets may reveal bad loans, as well as increase the risk of trading losses.
Feb 28- Citigroup Inc said on Friday it has discovered fraud in its Mexico subsidiary and is reducing its previously reported 2013 net income by $235 million.
Some of the names on the move ahead of the open.
James Bullard, Federal Reserve Bank of St. Louis president & CEO, shares his thoughts on Europe's recession and the Fed's asset buying program. All of the things that we've been worried about over the last couple of years have dissipated, says Bullard.
James Bullard, Federal Reserve Bank of St. Louis president & CEO, shares his thoughts on the outlook on housing and whether the Fed is like to change its pace of tapering.
James Bullard, Federal Reserve Bank of St. Louis president & CEO, discusses whether this winter's harsh weather impacted recent economic data. The spate of soft data is not enough for me to revise my forecast, says Bullard.
MOSCOW, Feb 28- Gazprom Neft, an oil arm of Russian gas company Gazprom, posted 177.9 billion roubles in 2013 net profit, up 1 percent year-on-year. In 2012, Gazprom Neft saw net profit at 176.3 billion roubles. The company said in a statement on Friday its revenues were down 1 percent to 1.5 trillion roubles last year.
*Demand from China underpinning growth. SYDNEY, Feb 28- Australia's Warrnambool Cheese and Butter Factory Holdings Co reported a doubling in first-half profits on Friday, a step towards justifying the rich bidding war that left Canada's Saputo Inc owning almost 90 percent of the company.
SYDNEY, Feb 28- Australia's Warrnambool Cheese and Butter Factory Holdings Co reported a doubling in first-half profits on Friday, a step towards justifying the rich bidding war that left Canada's Saputo Inc owning almost 90 percent of the company.
Richard Lancaster, CEO of CLP Group, addresses concerns relating to its earnings losses in Australia, which is seeing a downturn in market conditions and energy demand dip as of late.
Despite seeing earnings tripled in 2013, David Skov, Head, South China at Maersk Line, says the company expects freight rates to remain volatile and warns of overcapacity in the industry going forward.
Qantas Airways CEO Alan Joyce, believes that he has the board behind him on his plans to slash 5,000 jobs and other cost-cutting measures, after the airline posted a hefty pre-tax loss on Thursday.
Feb 27- Salesforce.com Inc raised its full-year revenue forecast and said it aims to improve its adjusted operating margin, after quarterly revenue grew more than expected on strong sales at ExactTarget, an email marketing firm it acquired in June.
Qantas Airways CEO Alan Joyce discusses his plans to return the airline back to profitability, as well as its dialogue with the Australian government.
Gap is reporting a drop in fourth-quarter profit on a 3 percent decline in revenue as the clothing retailer was forced to discount heavily.
Feb 27- Data analytics software maker Splunk Inc reported a bigger fourth-quarter loss as costs nearly doubled. Splunk's shares fell 3.6 percent after the bell on Thursday. The company's net loss increased to $32.6 million, or 30 cents per share, from $6.2 million, or 6 cents per share, a year earlier.