Buffett defends Berkshire’s Coke stake, warns on BNSF

Warren Buffett on Saturday defended several of Berkshire Hathaway Inc's larger or struggling investments, including Coca-Cola and the BNSF railroad. Speaking at Berkshire's annual shareholder meeting in Omaha, Nebraska, Buffett also said overall first-quarter operating profit probably fell 12 percent to $3.73 billion from $4.24 billion a year earlier.

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Buffett defends Berkshire’s Coke stake, warns on BNSF

With weak earnings in tow, focus turns to jobs data

Coming off a barrage of flimsy company earnings reports that included Apple's first revenue drop in 13 years, investors will turn to April jobs data for signs of budding resilience or further weakening in the second quarter. U.S. nonfarm payrolls, unemployment and wages data are due Friday May 6, when the economy is expected to have added 200,000 jobs in April, with the unemployment rate unchanged at 5 percent and a wage increase of 0.3 percent, according to Reuters data. Unlike in recent months, where weak jobs numbers were counted on to stave off another Federal Reserve interest rate hike, investors are now itching for better-than-expected employment data to indicate a stronger next earnings season, analysts said.

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With weak earnings in tow, focus turns to jobs data

German finmin criticizes Volkswagen management over bonuses: paper

Germany's finance minister Wolfgang Schaeuble has criticized the executive board of scandal-ridden carmaker Volkswagen for not waiving bonuses despite bringing the company to the brink of collapse. “I have no sympathy for managers who first drive a large blue chip-listed company into an existence-threatening crisis and then defend their own bonuses in a public debate,” Schaeuble told German weekly Frankfurter Allgemeine Sonntagszeitung. “That shows that something is not working.” Volkswagen plans to pay the 12 current and former members of its management board 63.24 million euros ($72.44 million) for 2015, a year when Europe's largest carmaker posted a record loss due to legal and compensation costs for cheating diesel emissions tests.

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German finmin criticizes Volkswagen management over bonuses: paper

Daimler hires Deloitte for internal emissions probe

Daimler has hired auditor Deloitte Touche Tohmatsu to help with an internal investigation into its diesel-engine emissions technology requested by the U.S. Department of Justice, the luxury car maker said. The investigation is to see if Daimler used devices to manipulate emissions tests and comes after another German carmaker, Volkswagen AG, admitted installing software that did so. Daimler said last week that it was conducting an internal investigation of its certification process for diesel exhaust emissions in the United States at the request of the Justice Department.

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Daimler hires Deloitte for internal emissions probe

United Airlines cuts COO Hart’s pay by $1 million over Port Authority probe

The 2015 annual incentive pay of Chief Operations Officer Greg Hart was reduced by $1 million in connection with a probe into the No.3 U.S. airline's relationship with the Port Authority of New York and New Jersey. The internal probe focused on whether United added flights to Columbia, South Carolina to curry favor with then-Port Authority Chairman David Samson, who had a home there. United has also disclosed two government probes related to the matter.

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United Airlines cuts COO Hart’s pay by $1 million over Port Authority probe

Facebook hit with lawsuit over plan to issue new stock

By Dan Levine SAN FRANCISCO (Reuters) – A Facebook Inc shareholder filed a proposed class action lawsuit on Friday in a bid to stop the company's plan to issue new Class C stock, calling the move an unfair deal to entrench Chief Executive Mark Zuckerberg as controlling shareholder. The lawsuit, filed in the Delaware Court of Chancery, followed the social networking company's announcement on Wednesday of its plan to issue the shares. The rejiggering of Facebook's share structure is effectively a 3-for-1 stock split.

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Facebook hit with lawsuit over plan to issue new stock

Apple’s stock suffers worst week since 2013

By Noel Randewich SAN FRANCISCO (Reuters) – Apple Inc on Friday ended its worst week on the stock market since 2013 as worries festered about a slowdown in iPhone sales and after influential shareholder Carl Icahn revealed he sold his entire stake. Shares of Apple, a mainstay of many Wall Street portfolios and the largest component of the Standard & Poor's 500 index, have dropped 11 percent in the past five sessions. Confidence in the Cupertino, California company has been shaken since posting its first-ever quarterly decline in iPhone sales and first revenue drop in 13 years on Tuesday, although Apple investors pointed to the stock's relatively low valuation as a key reason to hold onto the stock.

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Apple’s stock suffers worst week since 2013

Yen spikes to 18-month peak, Amazon softens Apple blow

The yen surged to an 18-month peak on Friday as investors wagered the Bank of Japan might be done adding fresh stimulus to the economy, hurting prospects for Japanese exporters with a move that rippled through share markets across the Asian region. Perhaps taking advantage of Japan's absence for a holiday, speculators smashed through the yen's previous top at 107.63 per dollar and drove the currency as far as 107.075. It had been at 111.67 before Thursday's decision by the BoJ not to ease policy further, even though prior media reports had set the market up for more action.

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Yen spikes to 18-month peak, Amazon softens Apple blow

U.S., EU officials say they will not settle for limited trade deal

By David Lawder NEW YORK (Reuters) – U.S. and European Union trade officials said on Thursday they would not settle for a limited trans-Atlantic free trade deal that ignores deep divisions on agricultural products, services, public procurement and dispute resolution. In separate briefings during the latest negotiating round in New York, the U.S. and EU officials said they would push for a comprehensive Trans-Atlantic Trade and Investment Partnership, or T-TIP, before U.S. President Barack Obama leaves office in January. “We are not going to shoot for or accept a 'T-TIP light,' a U.S.

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U.S., EU officials say they will not settle for limited trade deal

Exclusive: CBS weighs share options for post-Redstone era – sources

CBS Corp's executives are talking to investment bankers about how their CEO and executive chairman, Les Moonves, can gain more control over the broadcaster after Sumner Redstone dies, or if he is declared mentally incompetent, said two sources familiar with the situation. The New York-based company met with investment banks in recent months to discuss how it could buy CBS's voting shares from Redstone's National Amusements Inc, and collapse CBS's dual-class share structure, the sources told Reuters. CBS and Viacom Inc both have dual-class share structures with 80 percent of their voting shares owned by National Amusements, a privately-held movie theater company controlled by the 92-year-old Redstone.

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Exclusive: CBS weighs share options for post-Redstone era – sources