Allergan shareholders will receive 0.8660 AbbVie shares and $120.30 in cash for each share held, for a total value of $188.24 per Allergan share.Biotech and Pharmaceuticalsread more
"What else do you have to do that will actually have to affect the Iranians' calculus?" said Amos Hochstein, who served as U.S. special envoy for international energy affairs...World Politicsread more
Reports of tensions may have been sparked by Kraft Heinz's underperformance and because of accounting problems at the packaged goods company.Investingread more
SpaceX used its high speed boat called "Ms. Tree" to catch the nosecone its Falcon 9 rocket after Monday's launch.Investing in Spaceread more
FedEx sued the U.S. government, saying it should not be held liable if it inadvertently shipped products that violated a Trump administration ban on exports to some Chinese...Traderead more
The major indexes have stretched to all-time highs and are riding one of their best first halves in decades.Trading Nationread more
The leaders of Japan and China got off to a tense start but have made significant progress in turning around their relations in recent years.Asia Politicsread more
Tech's hottest IPOs of the year, including Beyond Meat and Zoom, dropped on Monday, falling more than the broader market.Technologyread more
Citi Private Bank says it has maintained an "overweight" stance on stocks in China, Hong Kong, Taiwan and South Korea.Asia Marketsread more
Stocks in Asia slipped on Tuesday, while investors looked toward a meeting between U.S. President Donald Trump and Chinese President Xi Jinping set to happen later in the...Asia Marketsread more
A week of dovish fireworks out of the central banking community has just gone by with most of the world's leading central banks now guiding towards easing in light of downside...Commentaryread more
The "Oracle of Omaha" is now very much long the U.S. banking system. Berkshire's second- and third-largest holdings behind Apple are Bank of America and Wells Fargo. He increased the firm's Bank of America stake by 29 percent last quarter. Berkshire also added to its already large stakes in U.S. Bancorp, Goldman Sachs and Bank of New York Mellon last quarter, filings showed.
Shares of J.P. Morgan rallied 1.5 percent in after-hours trading following news of Buffett's new $4 billion stake, which was reported in the company's 13-F filing. The filing documents the company's holdings as of end of September. Berkshire slightly decreased its stake in Wells Fargo.
Buffett and J.P. Morgan CEO Jamie Dimon admire each other. Buffett has said he reads Dimon's annual shareholder letter for insights into the banking industry. Dimon is the longest-tenured of CEOs leading a major U.S. bank. The pair, along with Jeff Bezos of Amazon, in January announced a partnership to cut health-care costs and improve services for their U.S. employees.
Todd Combs, one of Buffett's investing lieutenants at Berkshire who first got the company involved in Apple, sits on the board of directors of J.P. Morgan.