CNBC's Robert Frank reports that Amazon's Jeff Bezos has replaced Warren Buffett as the third richest person in the world, according to Forbes. » Read More
Stocks ended lower Wednesday amid concerns about strained credit markets and the economic slowdown. Banks rallied as investors were encouraged by progress on bailout talks on Capitol Hill. GE got a vote of confidence -- to the tune of $3 billion -- from Warren Buffett.
If some other recent offerings are any indication, this might be the time to buy.
GE's announcement of a $15 billion capital raise ($12 b in common, $3 b in preferred to Warren Buffett with a 10 percent dividend) is difficult news for shareholders, but everyone agrees that two things need to be done:
Warren Buffett is making a $3 billion investment in General Electric in a vote of confidence designed to ease global market fears about the health of its GE Capital unit. He talked about his admiration for GE and his hopes for a bailout package from Congress in a live telephone interview with CNBC's Becky Quick. Here's the unofficial "rush" transcript.
Shares of Chinese battery maker and 'green' car maker BYB Company Limited soared 42 percent today in Hong Kong trading, after this weekend's announcement that Warren Buffett is investing in the company.
The first authorized biography of Warren Buffett is being published today. The Snowball: Warren Buffett and the Business of Life was written by former insurance industry analyst Alice Schroeder with Buffett's full cooperation. Here are some excerpts from the book, as provided by its publisher, Bantam Dell.
Warren Buffett's "self-doubt and vulnerability" surprised the author of The Snowball, the billionaire investor's first authorized biography that goes on sale tomorrow. Alice Schroeder tells why in an interview with Reuters.
A subsidiary of Warren Buffett's Berkshire Hathaway is making a $230 million investment in a Chinese battery company that's developing environmentally-friendly cars to be sold around the world. In a news release, Berkshire's MidAmerican Energy Holdings says it has agreed to buy a 10 percent stake in BYD Company Limited, which trades on Hong Kong's stock exchange.
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.
For the week ending Friday, September 26, 2008, the major U.S. Indices tumbled for the week as uncertainty lingered over the Congressional $700B bailout package. We also witnessed a historic bank failure, unsatisfying housing data, a continued rise in jobless claims, and a record one-day gain in the price of crude. The S&P 500 and NASDAQ Composite shed more than 3% for the week. The NASDAQ had the worst weekly performance amongst the three major indices, losing 3.98%, followed by S&P 500 which lost 3.3%, marking their biggest weekly drops since the start of Sept. for the NASDAQ & since mid May for the S&P.
The first authorized biography of Warren Buffett goes on sale Monday, September 29, and it could very well be the biggest business book of the year, both in sales and weight. (At 976 pages, the hardcover edition weighs in at three pounds, 6.5 ounces.) The publisher has posted a few excerpts, including a description of Buffett's 1999 "preaching" to an audience that thought the Internet would make them rich, forever.
The US government has taken a number of dramatic steps—both conventional and extraordinary—to try to remedy the problem. Take a look at what's been done.
Markets may test new lows as the US bailout plan is delayed.
Cash is king is no longer just a cliché, it has become a mantra for markets in times of high uncertainty.
Treasury Secretary Henry Paulson has spent a good part of the last two days on Capitol Hill arguing that the government should not demand a stake in any Wall Street firms it bails out. Demanding such a stake, Mr. Paulson says, could scare away many of those firms from participating in the bailout, leaving the credit markets as hobbled as they are now, the New York Times reported.
Warren Buffett makes a surprise $5 billion endorsement to Goldman Sachs spacer, while Treasury Secretary Paulson agreed that a proposed $700 billion financial bailout be modified to put some limits on executive pay. Following are today's top videos:
Unusual action in Goldman's share price is raising eyebrows on Wall Street.
There’s no time for the Treasury secretary to take a much-needed marketing course. So Cramer broke down the bailout so we could see just how imperative it really is.
For a second day officials urged Congress to swiftly act on a Wall Street bailout or risk "serious consequences" for the economy and financial markets...
Warren Buffett said we were on the "brink" last week. That's pretty scary when you look at the unsettled nature of credit markets yesterday and again today, as Congress wrestles on hours of live television with the request to save Wall Street from itself.