FRANKFURT/RIYADH (Reuters) – For many people, the language of European Central Bank policymakers is so impenetrable, it could be beamed from another planet. FILE PHOTO: European Central Bank President Christine Lagarde addresses the European Parliament during a debate on the 2018 annual report of the ECB in Strasbourg, France, February 11, 2020. REUTERS/Vincent Kessler Now, […]
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Buffett defends investments in stocks, which fueled record Berkshire profit
NEW YORK (Reuters) – Warren Buffett on Saturday defended Berkshire Hathaway Inc’s decision to invest heavily in the stocks of companies such as Apple Inc, while giving new details about how Berkshire Hathaway is prepared for his death in an annual letter to shareholders posted on the company’s website. FILE PHOTO: Berkshire Hathaway Chairman Warren […]
Read MoreRising stocks fuel huge profit for Buffett’s Berkshire
FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc’s annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott Morgan (Reuters) – Warren Buffett on Saturday defended Berkshire Hathaway Inc’s decision to invest heavily in the stocks of […]
Read MoreMarkets underprice coronavirus risk: UBS chairman on Bloomberg TV
FILE PHOTO: Axel Weber, UBS Chairman of the Board of Directors, attends a session during the 50th World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 22, 2020. REUTERS/Denis Balibouse VIENNA (Reuters) – Markets are underpricing the risk that the coronavirus outbreak poses to the global economy, and central banks need to help business […]
Read MoreRBC to launch U.S. consumer bank betting on wealthy clients
(Reuters) – Royal Bank of Canada plans to open a consumer bank in the United States early next year targeting wealthy clients, with the aim of expanding deposits, its chief financial officer told Reuters on Friday after the bank posted first-quarter profit that beat expectations. The Royal Bank of Canada (RBC) logo is seen outside […]
Read MoreLet’s come together to tax tech giants, say G20 officials eyeing $100 billion boost
RIYADH (Reuters) – Leading world economies must show unity in dealing with aggressive “tax optimization” by global digital giants like Google (GOOGL.O), Amazon (AMZN.O) and Facebook (FB.O), G20 officials said on Saturday. FILE PHOTO: The Facebook logo is displayed on a mobile phone in this picture illustration taken December 2, 2019. REUTERS/Johanna Geron/Illustration – RC2OND9JJLZ0/File […]
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Samsung Electronics confirms coronavirus case at phone factory complex in South Korea
SEOUL (Reuters) – Samsung Electronics (005930.KS) said on Saturday that one coronavirus case had been confirmed at its mobile device factory complex in the southeastern city of Gumi, causing a shutdown of its entire facility there until Monday morning. Samsung Electronics, the world’s top smartphone maker, said the floor where the infected employee worked would […]
Read MoreFrance ready to hear U.S. proposal on digital tax
French Finance and Economy Minister Bruno Le Maire speaks during the G20 finance ministers and central bank governors meeting in Riyadh, Saudi Arabia, February 22, 2020. REUTERS/Ahmed Yosri RIYADH (Reuters) – France is ready to listen to the U.S. administration’s proposal of offering U.S. companies a “safe harbor” from a new, international digital tax, its […]
Read MoreLet’s come together to tax tech giants, say G20 officials eying $100 billion boost
RIYADH (Reuters) – Leading world economies must show unity in dealing with aggressive “tax optimization” by global digital giants like Google (GOOGL.O), Amazon (AMZN.O) and Facebook (FB.O), G20 officials said on Saturday. FILE PHOTO: The Facebook logo is displayed on a mobile phone in this picture illustration taken December 2, 2019. REUTERS/Johanna Geron/Illustration – RC2OND9JJLZ0/File […]
Read MoreSamsung Electronics confirms one coronavirus case at phone factory complex in South Korea
Residents sanitize at a church in Seoul, South Korea, February 22, 2020. Yonhap via REUTERS SEOUL (Reuters) – Samsung Electronics (005930.KS) said on Saturday that one coronavirus case had been confirmed at its mobile device factory complex in the southeastern city of Gumi, causing a shutdown of its entire facility there until Monday morning. Samsung […]
Read MoreBoeing finds debris in fuel tanks of many undelivered 737 MAX jets
(Reuters) – Boeing Co (BA.N) has found debris in the fuel tanks of dozens of undelivered 737 MAX jets amid ongoing inspections as the Chicago-based planemaker struggles to restore the trust of airlines and the wider public in the grounded fleet. FILE PHOTO: An employee works on a Boeing 737 Max aircraft at the Renton […]
Read MoreU.S. Treasury’s Mnuchin: Tax certainty needed on global basis
FILE PHOTO: U.S. Treasury Secretary Steven Mnuchin testifies before the Senate Finance Committee during a hearing on the President’s FY2021 Budget on Capitol Hill in Washington, U.S., February 12, 2020. REUTERS/Yuri Gripas/File Photo/File Photo RIYADH (Reuters) – U.S. Treasury Secretary Steven Mnuchin said on Saturday it was very important to have tax certainty on a […]
Read MoreFederal prosecutors probing if Boeing pilot knowingly lied to FAA: NYT
(Reuters) – Federal prosecutors investigating Boeing Co (BA.N) are examining whether the U.S. planemaker knowingly misled the Federal Aviation Administration while it was seeking approval for its 737 MAX jet, the New York Times reported, citing two people familiar with the matter. FILE PHOTO: Grounded Boeing 737 MAX aircraft are seen parked in an aerial […]
Read MoreBoeing finds debris in fuel tanks of many undelivered 737 MAX jets inspected so far
(Reuters) – Boeing Co (BA.N) has found debris in the fuel tanks of dozens of undelivered 737 MAX jets amid ongoing inspections as the Chicago-based planemaker struggles to restore the trust of airlines and the wider public in the grounded fleet. FILE PHOTO: An employee works on a Boeing 737 Max aircraft at the Renton […]
Read MoreU.S. SEC probes Altria’s investment in Juul: source
FILE PHOTO: Juul brand vape cartridges are pictured for sale at a shop in Atlanta, Georgia, U.S., September 26, 2019. REUTERS/Elijah Nouvelage/File Photo (Reuters) – U.S. regulators have opened a probe regarding Marlboro maker Altria Group Inc’s (MO.N) investment in e-cigarette maker Juul Labs Inc, according to a person familiar with the matter. The U.S. […]
Read MoreEBay in discussions with multiple parties for sale of classified business
FILE PHOTO: The German headquarters of online marketplace eBay is pictured at Europarc Dreilinden business park south of Berlin in Kleinmachnow, Germany, August 6, 2019. REUTERS/Fabrizio Bensch (Reuters) – EBay Inc (EBAY.O) is in discussions with multiple candidates regarding a potential transaction for its classified-ads business, the company said on Friday. The company expects to […]
Read MoreMorgan Stanley to get $375 million termination fee if E*Trade walks away from deal
People take photos by the Morgan Stanley building in Times Square in New York City, New York U.S., February 20, 2020. REUTERS/Brendan McDermid (Reuters) – Morgan Stanley (MS.N) will receive a $375 million breakup fee if E*Trade Financial Corp (ETFC.O) walks away from its $13 billion deal for the discount brokerage, the U.S. bank said […]
Read MoreWells Fargo to pay $3 billion to U.S., admits pressuring workers in fake-accounts scandal
WASHINGTON (Reuters) – Wells Fargo & Co (WFC.N) will pay $3 billion to resolve criminal and civil probes into fraudulent sales practices and admitted to pressuring employees in a fake-accounts scandal, U.S. officials said on Friday, wrapping up one of the last major investigations looming over the bank. FILE PHOTO: A Wells Fargo logo is […]
Read MoreFactbox: Remaining hurdles for scandal-hit Wells Fargo
FILE PHOTO: An 1860’s era stagecoach is displayed at the Wells Fargo & Co. bank in downtown Denver, Colorado, U.S. April 13, 2016. REUTERS/Rick Wilking/File Photo (Reuters) – Wells Fargo & Co (WFC.N) has racked up well over $7 billion in penalties since a sales practices scandal erupted in 2016, and continues to face headwinds. […]
Read MoreStocks slip as coronavirus fears spur safe-haven buying
NEW YORK (Reuters) – Global equity markets slumped on Friday as the fast-spreading coronavirus drove investors into safe havens, with gold hitting a fresh seven-year high and the yield on the 30-year U.S. Treasury bond sliding to an all-time low. Traders work on the floor of the New York Stock Exchange shortly after the opening […]
Read MoreFederal prosecutors investigating whether Boeing pilot knowingly lied to FAA: NYT
FILE PHOTO: Grounded Boeing 737 MAX aircraft are seen parked in an aerial photo at Boeing Field in Seattle, Washington, U.S. July 1, 2019. REUTERS/Lindsey Wasson/File Photo (Reuters) – Federal prosecutors investigating Boeing Co (BA.N) are examining whether the U.S. planemaker knowingly misled the Federal Aviation Administration while it was seeking approval for its 737 […]
Read MoreBig tech cos pull out of San Francisco conferences on coronavirus concerns
FILE PHOTO: The Verizon store in Superior, Colorado, U.S., July 27, 2017. REUTERS/Rick Wilking (Reuters) – Verizon Communications Inc (VZ.N) has pulled out of the RSA cyber security conference due to coronavirus-related concerns, the organizer said here on Friday. RSA also said that AT&T Cybersecurity will not participate in the conference, taking the total number […]
Read MoreU.S. SEC probes Altria’s investment in Juul: WSJ
FILE PHOTO: Juul brand vape cartridges are pictured for sale at a shop in Atlanta, Georgia, U.S., September 26, 2019. REUTERS/Elijah Nouvelage/File Photo (Reuters) – U.S. regulators have opened a probe regarding Marlboro maker Altria Group Inc’s (MO.N) investment in e-cigarette maker Juul Labs Inc, the Wall Street Journal reported on Friday, citing people familiar […]
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