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Yen up after attacks in Germany, Turkey, stocks steady on Yellen comments

December 20, 2016 By

The safe-haven Japanese yen was up in early Asian trade on Monday after attacks in Germany and Turkey spooked investors, while regional stocks were steady as financial markets pondered upbeat comments from the Federal Reserve Chair Janet Yellen. Traders were also looking ahead to the Bank of Japan's rates decision later in the day, and while policy settings are set to be kept steady the focus will be on Governor Haruhiko Kuroda's take on surging global bond yields and the impact on rates in Japan. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent in early trade on Tuesday, while Tokyo's Nikkei was flat.

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Yen up after attacks in Germany, Turkey, stocks steady on Yellen comments

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Whole Foods founder Mackey retakes helm in turnaround

November 3, 2016 By

Whole Foods Market Inc is staking its future on blunt, vegan co-founder John Mackey, betting the man who built the high-end health food grocery chain has the best shot of leading its turnaround. Whole Foods on Wednesday said Mackey would resume his job as solo chief executive officer six years after he split the role with co-CEO Walter Robb, known as the businessman who carried out Mackey's vision. The Austin, Texas-based grocer has reported five quarters of falling sales at established stores, and while the decline may be easing, Whole Foods faces intense competition from retailers ranging from Kroger to Walmart and Amazon.

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Whole Foods founder Mackey retakes helm in turnaround

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

April 29, 2016 By

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

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Wells Fargo plans quiet assault on Wall Street from glass tower

March 30, 2016 By

As Wall Street remakes itself on a former rail yard in the far west of Midtown Manhattan, one surprising name is leading the way. Wells Fargo & Co , the San Francisco-based lender known for its retail banking business, has picked out space for a trading operation to use as a base for a stealth attack on the investment banking world. The boom-and-bust of Wall Street offers lucrative fees if Wells Fargo can pick up business left behind by rivals in the wake of the financial crisis of 2008, but trading brings extra risks and volatility.

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Wells Fargo plans quiet assault on Wall Street from glass tower

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Warren Buffett defends 3G, touts economy in record year for Berkshire

February 27, 2016 By

Warren Buffett on Saturday used his annual letter to Berkshire Hathaway Inc shareholders to launch vigorous defenses of an aggressive private equity partner and a maligned mobile home unit, as his conglomerate recorded robust profits. The world's third-richest person and a revered investor, Buffett also injected himself into the contentious 2016 U.S. presidential campaign, lambasting candidates who talk down the nation's economic future as “dead wrong” – an apparent jab at Republicans and frontrunner Donald Trump. Buffett, who is backing Democratic candidate Hillary Clinton, also raised a political issue dear to Democrats in his widely-read letter by calling climate change a “major problem for the planet,” although not one for Berkshire's future.

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Warren Buffett defends 3G, touts economy in record year for Berkshire

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