Some of Wednesday's midday movers:» Read More
Google, long seen as an enemy by many in the news industry, is making a bold attempt to be seen as a friend with a new service it hopes will make it easier for readers to read newspaper and magazine articles.
Dow Jones is reportedly shopping around its stock market indexes, working with Goldman Sachs to investigate finding a joint venture or a flat-out buyer.
Warren Buffett's Berkshire Hathaway was doing more selling than buying of stocks during the second quarter, but there is one new holding: New Jersey-based medical technology company Becton Dickinson. Berkshire also added to its stake in Johnson & Johnson, although the holdings are still well below where they were before Buffett sold over 33 million shares last fall.
The Washington Post Company reported that its quarterly earnings swung to a profit from a loss a year ago, but don't take that as an indication that newspapers are rebounding. The print journalism business is still suffering from the industry-wide downturn in advertising. It's also falling prey to a shift of newspaper readers from the paper to online, where they yield much less advertising revenue and for the most part, no subscription revenue.
Even though Warren Buffett always says he likes stocks more when they're cheaper, he didn't do a lot of buying as Wall Street's major indexes fell to their bear-market lows (so far) in early March. Berkshire Hathaway's first quarter stock portfolio snapshot shows no blockbuster buys. A few stakes did, however, get bigger during the first three months on the year.
Complete transcript and video of Warren Buffett's live appearance on CNBC's Squawk Box this morning (Monday). He tells Becky Quick the U.S. economy is "very slow" and "getting slower" but he remains optimistic the economy will turn around eventually.
Warren Buffett says Berkshire Hathaway would not buy most of the newspapers in the United States "at any price." He says the changing media environment now means newspapers "have the possibility of unending losses" and he does not "see anything on the horizon that causes that erosion to end."
Some media executives are growing concerned that the increasingly popular curators of the Web that are taking large pieces of the original work — a practice sometimes called scraping — are shaving away potential readers and profiting from the content, the New York Times reports.
Newspaper industry headlines just keep getting worse and worse. Over the weekend two more newspaper companies filed for bankruptcy and this week the downward spiral continues
Bernanke bounce or an Obama tumble? That was the question on the minds of traders about markets Wednesday, another day in which Fed Chairman Ben Bernanke testifies before a Congressional committee and after President Obama's Tuesday night speech on the state of the nation.
Instead of asking what Warren Buffett has been buying, we should have been wondering what he's been selling. Berkshire Hathaway's stock portfolio snapshot for the end of the fourth quarter reveals its holdings in Johnson and Johnson have been slashed by more than half.
Warren Buffett's Berkshire Hathaway sharply increased its stake in ConocoPhillips this spring and summer, accumulating a total of 84 million shares as of the end of the third quarter on September 30, according to Berkshire's just-released quarterly portfolio filing with the SEC.
Warren Buffett says in the new biography coming out Monday that letting his wife leave their Omaha home in 1977 was the "biggest mistake I ever made," according to The New York Daily News. One of the reasons Susie began a romance with her tennis coach and then left her "iceberg" husband: Katherine Graham's public flirtation with Buffett when the Washington Post publisher was a 59-year-old widow and he was 46.
There's no question that this week Wall Street is in the midst of nearly unprecedented chaos. It happens that this very week the editors of Slate and the Washington Post Company are launching a new financial news site, "The Big Money."
Warren Buffett's Berkshire Hathaway has added a new stake in NRG Energy, according to a just-released portfolio 'snapshot' of its holdings in U.S. publicly-traded stocks as of June 30. A sharply reduced stake in Anheuser-Busch may have been a bet that InBev's initially unsolicited offer for the U.S. brewer would prove to be unsuccessful. Conoco-Phillips data is kept "confidential."
Gannett plans to eliminate 1,000 positions from its local newspapers around the U.S. because of declining advertising and circulation revenue, and may cut more if those conditions persist.
Jon Hilsenrath, money and investing news editor at the The Wall Street Journal, offered CNBC his "5 for 5": the five stocks you must watch this week.
Newspapers are breaking records -- and it's not a good thing. A double-digit drop in newspaper ad revenue, the third consecutive year of declines, and record margin contraction makes this the industry's worst year ever. The newspaper industry's ad revenue is down 12 percent this year, on top of last year's already dismal 8 percent drop.
There's no question the newspaper business is in trouble. The question IS: Can Sam Zell, chairman of the Tribune Company, build a profitable business in an industry that's in decline?
Warren Buffett ranks number one on Directorship magazine's new list of the most admired board directors. Its Annual Survey of Exceptional Directors is compiled using "data from proxy firms, reader polls and governance experts."