Atos board reported to be meeting Sunday to review takeover bids
PARIS (Reuters) - The board of French tech firm Atos was due to meet on Sunday evening to consider takeover offers, including one submitted by Czech businessman Daniel Kretinsky, Les Echos and Le Figaro reported. Atos, which secures communications ...
6h ago
Big Oil finds more to love in deepwater exploration fields
By Georgina McCartney HOUSTON (Reuters) - As Big Oil returns this week to the industry's annual showcase for offshore energy projects and equipment in Houston, deepwater discoveries off Guyana, Namibia and the U.S. Gulf Coast will take the spotligh...
12h ago
IMF says its mission will visit Pakistan this month to discuss new loan
By Ariba Shahid KARACHI (Reuters) - An International Monetary Fund mission is expected to visit Pakistan this month to discuss a new programme, the lender said on Sunday ahead of Islamabad beginning its annual budget-making process for the next fin...
13h ago
Gulf bourses end higher as Fed cut hopes rise
By Md Manzer Hussain (Reuters) - Stock markets in the Gulf ended higher on Sunday, led by the Qatar index, after slowing U.S. jobs growth in April raised hopes of early interest rate cuts by the U.S. Federal Reserve. The Labor Department's employme...
13h ago
Slowing global economy to mean smaller revenue bump in Australian budget
SYDNEY (Reuters) - Global economic weakness and a slowing domestic economy were among the reasons Australia will report a smaller revenue increase in its federal budget for the year ended June 30 compared to recent years, the government said on Sun...
14h ago
Berkshire's Brooks Running CEO sees China, Europe as growth areas
By Jonathan Stempel OMAHA, Neb. (Reuters) - The new chief executive of Brooks Running said the running shoe maker owned by Warren Buffett's Berkshire Hathaway views China and Europe as growth areas for a business that generates most revenue in the ...
16h ago
Saudi Arabia's non-oil business activity growth steady in April-PMI
DUBAI (Reuters) - Saudi Arabia's non-oil business activity grew at a steady rate in April despite a slowdown in new order growth, a survey showed on Sunday, with domestic demand driving output. The seasonally-adjusted Riyad Bank Saudi Arabia Purcha...
19h ago
United Auto Workers ratify contract with Daimler Truck
(Reuters) - Members of the United Auto Workers on Saturday ratified a new labor contract with Daimler Truck, the union said in a statement. The vote was 94.5% in favor of the new contract, which covers more than 7,300 hourly UAW workers and was agr...
May 05, 2024
Paramount bidders await word from special committee evaluating options
By Dawn Chmielewski (Reuters) - A special committee of the Paramount Global board charged with evaluating offers for the company met Saturday morning, though rival bidders for the studio are awaiting word on next steps. Paramount ended its exclusiv...
May 05, 2024
WestJet issues 72-hour lockout notification to its tech ops union AMFA
(Reuters) - Onex Corp's WestJet on Saturday said that it has issued a 72-hour lockout notification to its technical operations union Aircraft Mechanics Fraternal Association (AMFA). The company said that a work stoppage could occur as early as May...
May 04, 2024
Berkshire shareholders reject climate, diversity, China proposals
By Jonathan Stempel OMAHA, Nebraska (Reuters) - Berkshire Hathaway Inc shareholders on Saturday overwhelmingly rejected six proposals addressing environmental and social policy issues at Warren Buffett's conglomerate, all of which the billionaire i...
May 04, 2024
Warren Buffett says Berkshire sold entire Paramount holdings at a loss
NEW YORK (Reuters) - Warren Buffett said on Saturday Berkshire Hathaway sold its entire holding in Paramount at a loss, a decision he said was his sole responsibility. "It was 100% my decision and we've sold it all and we lost quite a bit of money,...
May 04, 2024
Warren Buffett says taxes may rise to offset widening US deficits
NEW YORK (Reuters) - Warren Buffett said he expects the U.S. government to increase taxes to tackle widening fiscal deficits rather than reduce spending. "I think higher taxes are likely," he said on Saturday at Berkshire Hathaway's annual sharehol...
May 04, 2024
Ping An votes against reappointment of HSBC CEO as director, Bloomberg News reports
(Reuters) - HSBC Holdings Plc's biggest Asian investor, China's Ping An Insurance Group Co, voted against the reappointment of departing chief executive Noel Quinn as a director at the bank's shareholder meeting, Bloomberg News reported on Saturday...
May 04, 2024
Buffett talks succession and Berkshire's future at annual meeting
(Reuters) - Warren Buffett took the stage at Berkshire Hathaway's annual meeting on Saturday, paying tribute to his longtime business partner Charlie Munger, outlining the expanded roles of the executives who are designated to eventually succeed hi...
May 04, 2024
Berkshire exec calls wildfire claims against utility 'unfounded'
NEW YORK (Reuters) - Berkshire Hathaway, the conglomerate led by Warren Buffett, will fight all lawsuits brought against its utility business due to wildfires as the cases are "unfounded," a top executive said on Saturday. Greg Abel, who is widely ...
May 04, 2024
Berkshire has record profit, cash soars to $189 billion as Apple stake sinks
OMAHA, Neb. (Reuters) - Berkshire Hathaway Inc posted a record quarterly profit on Saturday, boosted by strength in its insurance operations, and appears to have sold a significant number of Apple shares as its cash stake swelled to $189 billion. T...
May 04, 2024
Berkshire shareholders descend on Omaha as annual meeting kicks off
By Jonathan Stempel and Koh Gui Qing OMAHA, Nebraska (Reuters) - Warren Buffett will take center stage at Berkshire Hathaway's annual meeting on Saturday, as shareholders descend on to watch the famed investor as well as his expected successor. The...
May 04, 2024
Fed's Williams: Inflation target 'critical' for achieving stable prices
PALO ALTO, California (Reuters) - New York Federal Reserve Bank President John Williams on Friday said he believes the U.S. central bank's 2% target for inflation is "critical" to its efforts to achieve price stability. "Theory and experience have ...
May 04, 2024
Fed's Goolsbee: US rate-path 'dot plot' needs more context
PALO ALTO, California (Reuters) - The U.S. Federal Reserve should beef up its quarterly "dot plot" of policymakers' interest-rate-path views by including the individual economic expectations that inform each one, Austan Goolsbee, president of the C...
May 03, 2024
Paramount will let exclusive talks with Skydance lapse, NYT reports
(Reuters) -Paramount Global Friday will end its exclusive negotiations with Skydance Media without reaching a deal, the New York Times reported on Friday, citing people familiar with the matter. Shares of the media giant rose 3% in extended trading. A ...
May 03, 2024
Reddit CEO beneficially owns 61.5% of class A shares, regulatory filing shows
(Reuters) - Reddit co-founder and CEO Steve Huffman beneficially owns 62.4 million Class A shares of the social media company, a regulatory filing showed on Friday. Those shares were equivalent to 61.5% of the share class, based on a calculation th...
May 03, 2024
China's Zeekr plans to raise up to $368 million in US IPO
(Reuters) -China-based electric vehicle brand Zeekr Intelligent Technology Holding said on Friday it was aiming to raise $367.5 million in its U.S. initial public offering. The company is looking to offer 17.5 million American depositary shares (ADSs) ...
May 03, 2024
Exxon to take up to two years to hit stride with Pioneer purchase
By Sabrina Valle HOUSTON (Reuters) - Exxon Mobil will take 18 to 24 months to achieve its desired production synergies from its $60 billion purchase of U.S. shale oil producer Pioneer Natural Resources, the company's top shale executive said on Fri...
May 03, 2024
US small caps struggle as elevated interest rates take a toll
By David Randall NEW YORK (Reuters) - The prospect of interest rates remaining elevated as the Federal Reserve battles inflation is further clouding the outlook for shares of smaller U.S. companies, which have lagged broader markets this year. Smal...
May 03, 2024