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...
8h ago
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...
8h ago
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...
9h ago
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 ...
11h ago
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...
15h ago
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...
18h ago
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
Stablecoin Tether steps up monitoring in bid to combat illicit finance
By Elizabeth Howcroft LONDON (Reuters) - The world's largest stablecoin, Tether, has stepped up monitoring of how its tokens are used in broader crypto markets and payments in a bid to combat illicit finance, Tether said in a statement on Thursday....
May 03, 2024
Exclusive-Southwest pilots face reduced hours, pay due to Boeing delivery delays
By Rajesh Kumar Singh CHICAGO (Reuters) - Southwest Airlines plans to offer its pilots reduced hours and, in effect, monthly pay, two people familiar with the matter said, as it grapples with higher costs and overstaffing due to delays in aircraft ...
May 03, 2024
LNG producer Cheniere's export volumes fuel core profit beat
(Reuters) -Top U.S. liquefied natural gas producer Cheniere Energy beat adjusted core profit estimates on Friday, as higher-than-expected export volumes countered lower natural gas prices. The U.S. emerged as the top LNG exporter in 2023 as buyers scra...
May 03, 2024
Tesla vs Tesla: US carmaker sues Indian namesake for copying trademark
By Arpan Chaturvedi and Aditya Kalra NEW DELHI (Reuters) - Elon Musk's carmaker Tesla has sued an Indian battery maker for infringing its trademark by using the brand name "Tesla Power" to promote its products, seeking damages and a permanent inju...
May 03, 2024
Weaker US jobs data brings some relief to Fed
By Howard Schneider and Lindsay Dunsmuir (Reuters) - Federal Reserve officials, buffeted in recent months by concerns the economy might again overheat, got relief on Friday when jobs data for April showed a marked cooling in wage growth and a pace ...
May 03, 2024
Google faces second day of closing arguments in US antitrust trial
By Mike Scarcella WASHINGTON (Reuters) - The U.S. government will lay out its antitrust case against Alphabet's Google on Friday in a second day of closing arguments focused on accusations that the online search leader broke the law to stay on top ...
May 03, 2024
Brazil economists split over size of likely rate cut on May 8: Reuters poll
By Luana Maria Benedito and Gabriel Burin SAO PAULO/BUENOS AIRES (Reuters) - Economists are unusually split over the size of a likely Brazil interest rate reduction on May 8, a Reuters poll found, amid changing views about the future path of U.S. m...
May 03, 2024
Fed's Bowman supports current policy stance but still sees inflation risks
(Reuters) - Inflation should continue to decline even as the U.S. central bank holds its benchmark interest rate steady at current levels, Federal Reserve Governor Michelle Bowman said on Friday while also reiterating her willingness to raise the p...
May 03, 2024
US equity funds witness outflows for fifth week in a row
(Reuters) - U.S. investors were net sellers of equity funds for a fifth successive week in the seven days to May 1, exercising caution ahead of the Federal Reserve's policy decision and scaling back expectations for interest rate cuts that were pre...
May 03, 2024
Exxon Mobil completes $60 billion deal for Pioneer Natural
(Reuters) - Exxon Mobil has closed its $60 billion purchase of Pioneer Natural Resources, the oil and gas producer said on Friday, a day after receiving a go-head from the U.S. Federal Trade Commission (FTC) for the deal. (Reporting by Arunima Kum...
May 03, 2024
April US jobs report shows looser labor market, good news for Fed
(Reuters) -U.S. job growth slowed more than expected in April and annual wage gains cooled, signs of a looser labor market which are good news for markets and the Federal Reserve that will likely require more such signals before pivoting from a higher ...
May 03, 2024
US FTC seeks more information on Novo Nordisk parent-Catalent deal
(Reuters) - The U.S. Federal Trade Commission has sought additional information about a $16.5 billion deal by Novo Nordisk's parent to buy manufacturing subcontractor Catalent. The deal was announced in February and Novo Nordisk Foundation has sinc...
May 03, 2024