If there is anyone out there who doesn’t need affirmation from Wall Street analysts, it’s the 87-year-old investing icon Warren Buffett . But JPMorgan gave it to the “Oracle of Omaha” anyway Thursday, initiating coverage on Berkshire Hathaway (BRK-A), the conglomerate he’s run for five decades, with an overweight rating. Despite Berkshire being the sixth-largest […]
Oil traded near a five-week high after the International Energy Agency and OPEC boosted their forecasts for crude demand. Futures were steady in New York after rising 3.8 percent in the previous three sessions. Global demand will climb this year by the most since 2015, the IEA said Wednesday. OPEC on Tuesday raised estimates for the amount […]
The chief economic adviser of Pimco’s parent company became the latest big voice in the financial world to cast doubt on bitcoin, a day after JPMorgan (JPM) CEO Jamie Dimon called bitcoin “a fraud.” XAutoplay: On | Off”It is a disruptive technology,” Mohamed El-Erian, chief economic adviser at Allianz, the German parent of the bond giant, […]
U.S. stocks opened higher on Friday, with the Dow hitting the 22,000 mark, after data showed job growth slowed more than expected in August, which could make the central bank cautious about raising interest rates again this year. The U.S. economy added 156,000 jobs in August, below the 180,000 expected by economists polled by Reuters. […]
Walmart (Rob Walton at the Walmart shareholders conference in 2015. AP/Danny Johnston) Rob Walton has sold shares from his family company. Walton, who is the son of founder Sam Walton and served as chairman of Walmart until 2015, has unloaded shares of the retailer totaling $62.3 million, according to SEC filings reviewed by CNBC. Walton sold a total of 775,958 […]
The death toll has climbed to six in Texas amid the “epic and catastrophic” flooding left behind in the southeast part of the state from Hurricane Harvey. On Monday evening, Houston’s Mayor Sylvester Turner confirmed three deaths in Houston. Three other storm-related deaths occurred in La Marque, East Montgomery County and the coastal city of […]
Berkshire Hathaway dumped its entire $315.4 million stake in General Electric in the second quarter, according to filings. The firm owned about 10.6 million shares in the company. GE just recently promoted John Flannery to CEO, as Jeff Immelt stood aside. Flannery was head of GE’s healthcare business before being tapped for CEO. Flannery was able to take […]
World stocks rose on Monday, recovering some of their poise after fears of a U.S.-North Korea nuclear standoff drove them to the biggest weekly losses of 2017, while the dollar too rose off four-month lows it had hit against the yen. U.S. shares were expected to open higher, index futures showed (ESc1) (1YMc1). European shares […]
Two senior Trump advisers — one inside the White House and another who recently departed — signaled Sunday that the knives are out for Steve Bannon, President Donald Trump’s controversial chief strategist. The comments come as a source inside the White House tells CNN that White House chief of staff John Kelly has soured on […]
Adding to the modest losses posted in the two previous sessions, stocks moved sharply lower over the course of the trading day on Thursday. With the sell-off on the day, the Nasdaq and the S&P 500 fell to their lowest closing levels in a month. The major averages ended the session just off their worst […]
A sign for General Motors Co. car-sharing operation, Maven hangs on the facade of the New York Stock Exchange (NYSE) in New York, U.S., May 15, 2017. REUTERS/Brendan McDermid SYDNEY (Reuters) – General Motors Co said on Saturday it was testing its car-sharing operation, Maven, in Australia through a pilot program with ride-hailing company Uber […]
Google’s Canadian engineering headquarters in Kitchener-Waterloo, Ontario seen on January 14, 2016. (Reuters) The Supreme Court of Canada issued an order to Google Wednesday: Stop showing search results for a company accused of fraud, not just in Canada, but throughout the world. Yes, that includes everybody reading this in America. But the court’s ruling that the Alphabet. Inc., (GOOG, GOOGL) […]
