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  • July 28- Jeff Bezos, the founder and chief executive of Amazon.com Inc, has become the world's third-richest person as of the market close for the first time, Forbes magazine said, passing Warren Buffett, the chairman and chief executive of Berkshire Hathaway Inc.. Bezos' fortune was $65.3 billion as of 4:30 p.m. EDT on Thursday, compared with Buffett's $64.9...

  • President and CEO Cal Dooley of the American Chemistry Council said the new rule should help keep freight rail and manufacturing healthy. The proposal to force railroads to allow some manufacturers to hire a competing railroad to haul their products has been championed by the National Industrial Transportation League. "Our member companies across a host of...

  • OMAHA, Neb.— Cabela's Inc. reported a 6 percent decline in its second-quarter profit Thursday, but didn't offer any new clues about its long-term strategic plans. But this year's results were weighed down by restructuring charges of $959 million as Cabela's works to reduce expenses. Cabela's is in the midst of a strategic review that began in December after an...

  • OMAHA, Neb.— Norfolk Southern's second-quarter profit declined 6 percent as it hauled 7 percent less freight and cut costs. Chairman and CEO Jim Squires said the railroad remains on track to cut $200 million in expenses this year as part of a multiyear plan to eliminate $650 million in costs by 2020.. The analysts surveyed by Zacks Investment Research expected...

  • OMAHA, Neb. _ Werner Enterprises Inc. on Thursday reported second-quarter earnings of $18.3 million. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share. Five analysts surveyed by Zacks expected $495.5 million.

  • CHICAGO, July 21- Union Pacific Corp on Thursday posted a lower quarterly net profit that was hurt by slumping freight volumes- especially coal- and warned the strong U.S. dollar, soft global economy and weak consumer demand would weigh on the No. 1 U.S. railroad's business in the second half of 2016.. The railroad reported second-quarter net income of $980 million,...

  • CHICAGO, July 21- Full-year 2016 freight volumes at Union Pacific Corp could fall between 6 percent and 8 percent from 2015, driven by declining coal volumes, weak shale oil business and the strong U.S. dollar, the company's top executive said on Thursday. Chief Executive Lance Fritz told Reuters a "not very robust" showing by U.S. consumers would also hurt freight.

  • CHICAGO, July 21- Union Pacific Corp on Thursday reported a lower quarterly net profit that was hurt by falling freight volumes, especially coal, and warned the strong U.S. dollar, soft global economy and weak consumer demand would keep weighing on the No. 1 U.S. railroad's business in the second half of 2016.. The Omaha, Nebraska- based company said overall freight...

  • CHICAGO, July 21- Union Pacific Corp on Thursday reported a lower quarterly net profit that was hurt by falling freight volumes, especially coal, and warned the strong U.S. dollar, soft global economy and weak consumer demand would keep weighing on the No. 1 U.S. railroad's business in the second half of 2016.. The Omaha, Nebraska- based company said overall freight...

  • OMAHA, Neb.— Union Pacific's second-quarter profit fell 19 percent as the railroad hauled 11 percent less freight. The 14 analysts surveyed by Zacks Investment Research predicted earnings of $1.17 per share on average. Union Pacific said shipments slowed in every category except agricultural goods.

  • OMAHA, Neb. _ Valmont Industries Inc. on Wednesday reported second-quarter net income of $42 million. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.74 per share. Four analysts surveyed by Zacks expected $650.7 million.

  • OMAHA, Neb.— Canadian Pacific has finalized its plan to replace Chief Executive Hunter Harrison when he retires from the railroad next summer. Harrison and Creel led Canadian Pacific's unsuccessful effort over the past year to acquire Norfolk Southern railroad. Canadian Pacific abandoned its roughly $30 billion bid for Norfolk Southern after encountering...

  • OMAHA, Neb. _ TD Ameritrade Holding Corp. on Tuesday reported fiscal third-quarter net income of $240 million. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share. TD Ameritrade shares have dropped 16 percent since the beginning of the year.

  • July 18- A Berkshire Hathaway Inc unit has agreed to buy Medical Liability Mutual Insurance Co, expanding billionaire investor Warren Buffett's business of protecting doctors, dentists and other healthcare professionals against lawsuits. MLMIC is the largest underwriter of medical professional liability insurance in New York, Berkshire's National...

  • July 14- Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc, has donated another roughly $2.86 billion of his holdings in the company's stock to the Bill& Melinda Gates Foundation and four family charities, as part of his plan to give away nearly his entire fortune. The Gates Foundation, which focuses on improving education and health and...

  • July 14- Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc, has donated another roughly $2.86 billion of his holdings in the company's stock to the Bill& Melinda Gates Foundation and four family charities, as part of his plan to give away nearly his entire fortune. The Gates Foundation, which focuses on improving education and health and...

  • July 1- Warren Buffett's Berkshire Hathaway Inc is seeking permission from the Federal Reserve to increase its ownership stake in Wells Fargo& Co, after reaching the 10 percent level that could prompt increased regulatory scrutiny. "Berkshire is seeking permission to retain its current ownership position in Wells Fargo and to acquire additional shares of...

  • Commissioner Dave Jones on Wednesday issued a "cease and desist order" preventing Berkshire's Applied Underwriters Inc and California Insurance Co units from selling or renewing the policies in question in California. The case arose from the sale of a policy known as EquityComp to Shasta Linen Supply Inc of Sacramento, which Jones said subjected the...

  • Commissioner Dave Jones on Wednesday issued a "cease and desist order" preventing Berkshire's Applied Underwriters Inc and California Insurance Co units from selling or renewing the policies in question in California. Wednesday's order extends that ruling to all similar policies that the Berkshire insurers sell in California. The case arose from the sale...

  • Net sales slid to $2.83 billion from $3.13 billion in the fourth quarter ended on May 29. Net income attributable to the company dropped to $117.6 million, or 27 cents per share, from $209.2 million, or 48 cents per share, a year earlier. The company, which will move its corporate headquarters to Chicago from Omaha, Nebraska, this quarter, announced plans in November to...