Warren Buffett's Berkshire takes huge bite of Apple shares, boosts airline stakes
The plunge into Apple appears particularly well-timed. Shares of Apple closed on Tuesday up $1.73 at $135.02, also a record closing high. Assuming Berkshire has not sold its stake, Apple's 16.6 percent gain this year would leave it with a $1.1 billion paper profit in 2017 alone. It had been widely believed that Berkshire's initial investment came from Combs or Weschler. But their decisions have sometimes influenced Buffett, as when Berkshire last year paid $32.1 billion for aircraft parts maker..>> view originalChina's Inflationary Sweet Spot Propels Rocketing H Shares
The bullish indicators just keep piling up for Asia’s best-performing stocks.Chinese shares listed in Hong Kong have roared back to a 15-month high, bolstered by signs the central bank’s money-market tightening is yet to impact bank lending, with a gauge of new credit at a record in January. H shares, which are racking up their best start to a year since 2012, are also seeing support from another corner -- inflation. Analysts say price growth is in the so-called Goldilocks zone, providing a tai..>> view originalHow Aetna frittered away $1.8 billion on a merger destined to fail
Breakups are always emotional, more so when they’re expensive. Let’s calculate the financial carnage of Aetna’s breakup with Humana, a $34-billion merger deal that was shut down by a federal judge three weeks ago and ended by the two big insurance companies on Tuesday.We figure that Aetna wasted roughly $1.8 billion, pre-tax, in pursuit of a merger that many experts said was so anti-competitive that it probably wouldn’t fly. This is a good portion of Aetna’s $2.3 billion in reported profit last..>> view originalToshiba's chairman resigns as its nuclear power losses mount
TOKYO — Toshiba, the embattled technology conglomerate, said it planned to write off more than $6 billion and withdraw from the business of building nuclear power plants as the impact of a disastrous bet on US nuclear energy continued to rock a mainstay of corporate Japan.The company also said on Tuesday that its chairman, Shigenori Shiga, would resign, ending weeks of speculation. Advertisement Its executives have come under intense scrutiny because of the financial mess, and the years of f..>> view originalUPDATE 1-Soros gets out of gold, Paulson & Co cuts SPDR Gold shares
(Rewrites, adds details from filings, market background) By Marcy Nicholson NEW YORK, Feb 14 (Reuters) - Soros Fund Management LLC got out of gold in the fourth quarter of 2016 while Paulson & Co reduced its stake in SPDR Gold Trust, as bullion prices saw their weakest quarterly performance in 3-1/2 years, regulatory filings showed on Tuesday. The firm that invests the personal fortune of billionaire investor and philanthropist George Soros eliminated its shares in Barrick Gold Corp in the Octo..>> view originalUPDATE 4-SoftBank to buy Fortress Investment for $3.3 bln
Shutterstock photo * SoftBank's PE play a break from telecoms and technology * New York-listed asset manager has Japan focus * SoftBank hired Fortress exec in 2014 * Fortress shareholders to receive $8.08 per share (Adds graphic) By Thomas WilsonTOKYO, Feb 15 (Reuters) - Japan'sSoftBank Group Corp <9984.T> on Wednesday said it has agreed to buy Fortress Investment Group LLC>> view originalfor about $3.3 billion, looking to add investment expertise as it prepares to launch the.. Trump signs repeal of transparency rule for oil companies
President Trump signed legislation Tuesday to repeal a controversial regulation that would have required energy companies to disclose their payments to foreign governments.The legislation is the first time in 16 years that the Congressional Review Act (CRA) has been used to repeal a regulation, and only the second time in the two decades that act has been law. It is the third piece of legislation Trump has signed since taking office three weeks ago.It is the start of one front in an aggressive d..>> view originalABN Amro Profit Rises on Interest Income, Lower Provisions
ABN Amro Group NV, the state-controlled Dutch lender, reported a 23 percent increase in fourth-quarter profit, helped by higher net interest income and lower provisions set aside for risky loans.Underlying net income, which strips out one-time items, rose to 333 million euros ($352 million) from 272 million euros a year earlier, the Amsterdam-based company said in a statement on Wednesday. Net interest income rose 5 percent and impairment charges declined 72 percent. ..>> view originalFacebook Looks for Music Deals as It Tries to Challenge YouTube
Facebook's passion for video is well known. The giant social network has been pushing more and more of it to users over the past year, and focusing an increasing amount of its resources on producing video content. So it seems natural that it might want to increase its presence in music videos as well—and that requires deals with record labels.According to a recent report from Bloomberg, the company is currently involved in exactly those kinds of discussions with music publishers and other righ..>> view originalDollar is now caught in a tug-of-war between the Fed and Trump
The reaction of the Fed funds futures market showed relatively muted optimism, with the read across from market levels indicating odds of 23 percent for a March hike, versus 16 percent earlier in the day, and a jump in expectations for a May hike to 50 percent from 38 percent, according to investment bank Jefferies. While the upwards move in the dollar makes sense in the context of the latest news from the Fed, the near-term outlook for the dollar is uncertain given the conflicting force of Pre..>> view original
Thursday, April 6, 2017
Warren Buffett's Berkshire takes huge bite of Apple shares, boosts airline stakes and other top stories.
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