Buffett's Berkshire seeks Fed leeway to boost BofA bet: Bloomberg
Warren Buffett's Berkshire Hathaway Inc is seeking permission from the Federal Reserve to boost its stake in Bank of America Corp above the 10% level, Bloomberg reported on Tuesday.
Warren Buffett's Berkshire Hathaway Inc is seeking permission from the Federal Reserve to boost its stake in Bank of America Corp above the 10% level, Bloomberg reported on Tuesday.
Hedge fund D.E. Shaw on Tuesday increased the pressure on Emerson Electric Co by publicly urging a breakup of the U.S. industrial conglomerate, a move it says could unlock more than $20 billion worth of shareholder value.
Wall Street rose 1% on Tuesday as strong earnings from JPMorgan, UnitedHealth and Johnson & Johnson allayed concerns about the fallout from a prolonged U.S.-China trade war on Corporate America.
Oil prices were narrowly mixed on Tuesday, retracing early losses on optimism about a potential Brexit deal and signals from OPEC that further supply curbs are possible, but prices remained under pressure from U.S.-China trade worries and concern about swelling U.S. crude inventries.
The price of WeWork's U.S. junk bond fell to an all-time low on Tuesday, last trading at 78 cents on the dollar, as the company weighed financing options including a package that may include at least $2 billion of unsecured notes with a 15% coupon.
Fidelity Investments said on Tuesday it is reviewing its relationship with Ken Fisher after the investment firm leader made "highly inappropriate comments" at a conference last week.
China's Huawei may be facing closer official scrutiny in Europe amid U.S. allegations that it poses a security threat, but mobile operators in the region are still queuing up to buy its gear for their next-generation 5G networks.
Pratt & Whitney recommended checks on engines on Airbus A220 aircraft and some Embraer jets after a Geneva-bound Swiss jet diverted to Paris with an engine problem, prompting the grounding of the rest of the airline's A220 fleet.
Fidelity Investments criticized money manager Kenneth Fisher on Tuesday over what it called inappropriate remarks he made at an investment conference last week, saying it was reviewing the $500 million Fisher's firm manages for the mutual fund giant.
Wall Street jumped on Tuesday as third-quarter reporting season kicked into high gear with a spate of upbeat earnings reports that brought buyers back to the equities market.
General Motors Co and the United Auto Workers union were near a deal on Tuesday to end a 30-day strike that has cost the automaker about $2 billion after Chief Executive Mary Barra and President Mark Reuss took part in contract talks, according to two people briefed on the matter.
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Oil prices fell on Tuesday, as investors worried that the unrelenting U.S.-China trade war would keep squeezing the global economy, and that swelling U.S. crude inventories would further pressure prices.
Trading in shares of WeWork in the private over-the-counter (OTC) market has almost ground to a halt, underscoring a loss of investor confidence in the office-sharing company and providing further evidence of its recent huge loss in value.
Stocks in Europe and on Wall Street jumped about 1% on Tuesday on strong U.S. corporate results and a possible deal to avoid a disorderly British exit from the European Union, while oil prices fell as weak China data kindled global economic fears.