Category: Latest News
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Warren Buffett: I bought $12 billion of stock after Trump won
Buffett revealed that he has bought $12 billion of stock for his company Berkshire Hathaway Inc since the Republican Donald Trump beat Democrat Hillary Clinton in the Nov. 8 U.S. presidential election. In an interview with talk show host Charlie Rose that aired on Friday night, Buffett suggested that Berkshire's post-election stock purchases overall were…
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Wall Street slips after soft GDP data, earnings
U.S. stocks edged lower for a second consecutive session on Friday as some underwhelming corporate earnings and gross domestic product data offset recent enthusiasm over policy actions by President Donald Trump. The stock was the biggest drag on the S&P 500 and the Dow Jones Industrial Average indexes.
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Xi to be first Chinese leader to attend Davos World Economic Forum
BEIJING/GENEVA (Reuters) – President Xi Jinping this month will become the first Chinese head of state to attend the World Economic Forum (WEF) in Davos, which this year will dwell on the rising public anger with globalization and the coming U.S. presidency of Donald Trump. Xi will take centre stage at the Jan. 17-20 forum…
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WTI prices fall on surprise build in U.S. crude stocks
By Mark Tay Singapore (Reuters) – U.S. oil prices fell on Thursday after an industry report showed a surprise build in the country's crude inventories, while Brent futures came off early lows to trade marginally higher. Meanwhile, a committee of OPEC (Organization of the Petroleum Exporting Countries) and non-OPEC producers responsible for monitoring compliance with…
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Wells Fargo says account openings fall in November
The bank agreed in September to pay regulators $185 million to settle charges that its staff opened as many as 2 million accounts without customers' knowledge. Wells Fargo said on Friday consumer checking account openings fell 9 percent in November from the previous month, and were down 41 percent from a year earlier. The bank…
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With bylaw tweaks, Apple grants activist one of three wishes
By Ross Kerber and Stephen Nellis BOSTON/SAN FRANCISCO (Reuters) – Apple Inc's board relaxed some rules for director nominations by outside investors but stopped short of broader changes sought by an activist shareholder. Just how much influence to give such investors has been a hot topic with the rise of activist shareholders who some executives…
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Warren slams Wells Fargo over arbitration position
Massachusetts Democratic Senator Elizabeth Warren on Monday criticized Wells Fargo & Co's decision to require customers affected by its unauthorized accounts scandal to go through arbitration rather than allowing them to sue. The San Francisco-based bank last week asked a U.S. court to uphold contract clauses that mandate arbitration, something financial firms often use to…
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Wells Fargo faces tighter controls as U.S. regulator reverses course
By Patrick Rucker WASHINGTON (Reuters) – A leading U.S. bank regulator on Friday reversed course and positioned the agency to claw back pay of former executives at Wells Fargo & Co after a phony-accounts scandal. Friday's move may target executive pay at Wells Fargo at a time when some lawmakers complain bank bosses have not…
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Wall Street slips; indexes still near record highs
The Nasdaq hit a record high earlier in the session, helped by a rise in Microsoft and other big tech stocks. U.S. stocks had been on a tear since Donald Trump's surprise victory in the presidential election last week as his proposals to increase infrastructure spending and reduce taxes are seen benefiting the economy. The…