Billionaire investor Warren Buffett's company has amassed a stake worth nearly $4.5 billion in Phillips 66 more than a year after trading a chunk of its holding in the oil refiner for a chemical business investment. A regulatory filing says Berkshire Hathaway Inc. has accumulated about 58 million shares, which amounts to more than 10 percent of the Houston...» Read More
Actually, no. Too bad Chris Cox doesn't know that.
A grand jury subpoena sent by prosecutors in the Bronx earlier this year sought information to help identify people blogging anonymously on a Web site about New York politics called Room 8. The subpoena carried a warning in capital letters that disclosing its very existence “could impede the investigation being conducted and thereby interfere with law enforcement” — implying that if the bloggers blabbed, they could be prosecuted.
U.S. securities regulators are boosting efforts to stop the spread of false rumors that threaten financial institutions, after a week that saw steep slides in the shares of Fannie Mae, Freddie Mac and Lehman Brothers.
Fed Chairman Ben Bernanke said financial market turbulence persists and that government officials are focused on helping the financial system regain stability.
As employers hand out electronic devices to their employees at a greater pace, there are growing concerns that workers eligible for overtime pay, known as non-exempt employees, could begin suing their employers for overtime hours earned while tapping on their devices during after-work hours.
Anheuser-Busch sued InBev in an effort to stop its Belgian-Brazilian suitor from taking any more steps to replace the U.S. brewer's board of directors, which had rejected a $46.3 billion takeover offer from InBev.
To arrive at America's Top States for Business, we scored all 50 states—using publicly available data—on 40 different measures of competitiveness., and then separated those metrics into the ten broad categories.
The Democratic-led Senate approved the newest member of the Federal Reserve’s System Board of Governors last Friday, making Elizabeth A. Duke the seventh woman to become a member of the board since the board was formed in 1913.
A federal judge in Miami authorized the Internal Revenue Service to request information from UBS about U.S. taxpayers who may be using Swiss bank accounts to evade federal income taxes, the U.S. Justice Department said Tuesday.
The U.S. Justice Department said it asked a federal court in Miami for an order authorizing the Internal Revenue Service to request information from Zurich-based UBS about U.S. taxpayers who may be using Swiss bank accounts to evade federal income taxes.
In response to record oil and gasoline prices, the U.S. House of Representatives on Thursday approved 402 to 19 legislation directing the Commodity Futures Trading Commission to use its authority, including the agency's emergency powers, to "curb immediately" the role of excessive speculation in energy futures markets.
South Korea's finance minister said on Thursday he preferred strengthening supervision of bank lending to directly controlling money supply as a means to cool hefty money supply growth, an online news provider reported.
Australia wants to tighten foreign-investment rules to curb Chinese takeovers of local miners, a national daily said on Thursday, as it emerged that China's Sinosteel was circling two Australian iron ore firms.
Two former Bear Stearns managers have surrendered to face criminal charges linked to the collapse of a hedge fund that bet heavily into subprime mortgages before the market collapsed, federal authorities said.
The indictment of two Bear Stearns hedge fund managers for securities fraud is expected to be announced later on Thursday in connection with a fund tied to the subprime lending market, CNBC has learned.
Energy prices have been absolutely sizzling hot, more than doubling the last 12 months. And with heavyweights like Goldman Sachs predicting that prices will hit $150 a barrel by this summer, everyone -- from producers to governments to motorists -- has been obsessed with where oil prices are going.
Britain's financial watchdog said investors with significant short positions in companies issuing rights will have to disclose those positions, as it unveiled a review of the efficiency of the capital-raising process.
The European Union’s competition commissioner, Neelie Kroes, delivered an unusually blunt rebuke to Microsoft on Tuesday by recommending that businesses and governments use software based on open standards.
Corrupt officials are raking off a sum equivalent to one third of Russia's annual budget, or $120 billion, a senior prosecutor was quoted as saying on Friday.
The U.S. Securities and Exchange Commission is investigating whether American International Group overstated the value of contracts linked to subprime mortgages, the Wall Street Journal said on Friday, citing people familiar with the matter.