The Shanghai Index rose 2.9 percent, and most European bourses are up 1 to 2 percent as China has allowed the yuan to rise against the dollar for the first time since 2008.
The economic news has been terrible this week (housing, jobs), but the S&P 500 is up 2.4 percent. How to account for that? Some point to the reduced headline risk in Europe (Germany has had an amazing week, it's only about 1 percent from a 52-week high!), and perhaps reduced headline risk from BP helped at the margins. But the driving factor is likely this...
Meg Whitman, the billionaire GOP California gubernatorial candidate, invested in funds with Goldman Sachs, Bain Capital and Blackstone , according to an economic-interest disclosure report she filed with San Mateo County for March 2009-2010.
What is the likelihood of a market double-dip and how should investors be prepared? Kent Croft, CIO and portfolio manager of Croft Value Fund and David Kelly, chief market strategist at JPMorgan Funds shared their insights.
We now know a lot more about that mysterious meeting in New York last year as billionaires from around the nation, including Warren Buffett and Bill Gates, gathered for a quiet dinner in New York. The topic was not, as some suspicious people half-jokingly suggested, world domination.
No bids yet in this year's charity auction of a Power Lunch for 8 with Warren Buffett. Just over 12 hours into the 5-day EBay auction, no one has made the starting minimum bid of $25,000. It's just a matter of time.
Billionaire Warren Buffett always tries to make sure that anyone who's willing to make a seven-figure donation just to have lunch with the investor gets their money's worth, so the meals often last more than three hours.
Warren Buffett is getting a lot of negative reviews for his defense of Moody's yesterday (Wednesday) during his appearance before the Financial Crisis Inquiry Commission. It's being called "arguably the single worst day of Buffett's life" from a PR standpoint.
Gold remains a primary safe haven, said Jerry Castellini, president of CastleArk Management, and Ethan Anderson, portfolio manager for Rehmann Financial. The two offered CNBC their investment outlooks on the precious metal.
We learned something important at Wednesday's Financial Crisis Inquiry Commission: the power of the duopoly privilege enjoyed by Moody’s and Standard & Poor’s is what drew Warren Buffett to make his Berkshire Hathaway the biggest shareholder in Moody’s.
Video clips of Warren Buffett's testimony on credit rating agencies at hearing held by the Financial Crisis Inquiry Commission.
This is a transcript of Warren Buffett's live interview on CNBC before appearing before the Financial Crisis Inquiry Commission on Wednesday, June 2, 2010.
In his appearance before a panel looking into the causes of the financial crisis, Warren Buffett says Moody's should not be singled out for blame. Buffett concedes that "looking back," Moody's should have recognized there was a housing bubble and not given such good ratings to what turned out to be disasterous investment vehicles. But, he says, almost everyone in the country got caught up in "the greatest bubble I ever saw." He includes himself in what he calls a mass delusion. "I was wrong on it, too."
Warren Buffett tells CNBC that the market will continue to demand ratings from "brand name" credit rating agencies, even if government rules were loosened to encourage more competition among firms.
The chief executive of Moody's says his company's inaccurate ratings of mortgage-related investments were "deeply disappointing" but investors shouldn't rely on ratings to buy or sell securities.
Warren Buffett is scheduled for a "First on CNBC" live interview tomorrow (Wednesday) morning before he testifies under subpoena on credit rating agencies at a Financial Crisis Inquiry Commission hearing in New York. Buffett will be speaking with Becky Quick at approximately 10:45a ET.
These industry, government, and Hollywood heavyweights have created the Green Products Innovation Institute, a new non-profit think tank that will help manufacturers find safer alternatives to toxic chemicals used in their products.
One of the enduring questions of the financial crisis is how the credit ratings establishment got so much so wrong for so very long. How could century-old institutions like the Moody’s Investors Service give their triple-A blessings to subprime junk?
Friday markets ended with a precipitous selloff that made for the worst May since 1962 and worst month in general since November 2008. Are US markets headed for recovery, or is a double-dip in the works? CNBC heard from expert economists, strategists and investors. See what they had to say...and decide for yourself.
This bull market will continue for "another couple of years," said Puru Saxena, CEO of Puru Saxena Wealth Management. He shared his market outlook.