Warren Buffett on Saturday forcefully defended Berkshire Hathaway Inc’s decision to invest heavily in stocks of companies such as Apple Inc as he labors through a four-year drought since his …
Let’s come together to tax tech giants, say G20 officials eyeing $100 billion boost
Leading world economies must show unity in dealing with aggressive “tax optimization” by global digital giants like Google , Amazon and Facebook , G20 officials said on Saturday. Read full …
Honda’s Philippine unit to close auto production plant
The Philippine unit of Honda Motor Co Ltd said on Saturday its production facility will shut down next month, as the Japanese automaker struggles to shore up global automobile operations. …
Rising stocks fuel huge profit for Buffett’s Berkshire
Warren Buffett’s Berkshire Hathaway Inc on Saturday posted a 23% decrease in quarterly operating profit, while soaring stock prices boosted net results and enabled the conglomerate to smash its old …
RBC to launch U.S. consumer bank betting on wealthy clients
Royal Bank of Canada plans to open a consumer bank in the United States early next year targeting wealthy clients, with the aim of expanding deposits, its chief financial officer …
Let’s come together to tax tech giants, say G20 officials eying $100 billion boost
Leading world economies must show unity in dealing with aggressive “tax optimization” by global digital giants like Google , Amazon and Facebook , G20 officials said on Saturday. Read full …
Federal prosecutors probing if Boeing pilot knowingly lied to FAA: NYT
Federal prosecutors investigating Boeing Co are examining whether the U.S. planemaker knowingly misled the Federal Aviation Administration while it was seeking approval for its 737 MAX jet, the New York …
Morgan Stanley to get $375 million termination fee if E*Trade walks away from deal
Morgan Stanley will receive a $375 million breakup fee if E*Trade Financial Corp walks away from its $13 billion deal for the discount brokerage, the U.S. bank said on Friday. …
U.S. SEC probes Altria’s investment in Juul: source
U.S. regulators have opened a probe regarding Marlboro maker Altria Group Inc’s investment in e-cigarette maker Juul Labs Inc, according to a person familiar with the matter. Read full story …
Coronavirus fears, U.S. business data drag down Wall Street
U.S. stocks sold off and the Nasdaq had its worst daily percentage decline in about three weeks on Friday as a spike in new coronavirus cases and data showing a …
Wells Fargo to pay $3 billion to U.S., admits pressuring workers in fake-accounts scandal
Wells Fargo & Co will pay $3 billion to resolve criminal and civil probes into fraudulent sales practices and admitted to pressuring employees in a fake-accounts scandal, U.S. officials said …
Federal prosecutors investigating whether Boeing pilot knowingly lied to FAA: NYT
Federal prosecutors investigating Boeing Co are examining whether the U.S. planemaker knowingly misled the Federal Aviation Administration while it was seeking approval for its 737 MAX jet, the New York …
U.S. watchdog proposes national standard for disclosing expired debt
The U.S. consumer watchdog on Friday proposed establishing a national standard for how debt collectors must inform borrowers when they cannot be sued for expired debt. Read full story Author:
Verizon withdraws from RSA conference on coronavirus concerns
Verizon Communications Inc has pulled out of the RSA cyber security conference due to coronavirus-related concerns, the organizer said https://www.rsaconference.com/novel-coronavirus-update on Friday. Read full story Author:
UniCredit may make announcement later on Friday on CEO Mustier’s future: sources
Italy’s biggest bank UniCredit may make an announcement as early as Friday night on the future of boss Jean Pierre Mustier, two sources familiar with the matter said, after reports …
Fed policymakers call for quick, strong action in next downturn
The U.S. central bank will need to act aggressively to counter future downturns, deploying old tools more quickly and adopting new ones, Federal Reserve Governor Lael Brainard said on Friday. …
Wall Street slides as data shows early business impact of coronavirus
U.S. stock indexes fell on Friday after data showed U.S. business activity stalled in February, and a spike in new coronavirus cases in China and elsewhere sent investors scrambling for …
King Dollar rules as virus threatens global growth
A powerful surge in the dollar threatens to magnify the pain for companies and nations already struggling with the economic fallout of the coronavirus. Read full story Author:
Tesla resumes tree cutting in Germany to build Gigafactory
Tesla Inc said it had resumed tree cutting in Gruenheide, Germany so it can construct its first European car and battery factory following moves by environmentalists to stop local deforestation. …
Oil falls 2% on renewed uncertainties over coronavirus outbreak
Oil prices fell on Friday as a rise in new cases of coronavirus and weak Asian economic data fuelled uncertainty about the economic outlook and as major crude producers showed …