(Reuters) – Warren Buffett’s Berkshire Hathaway Inc on Monday said it more than tripled its stake in the online banking company Ally Financial Inc, while shedding its stakes in Verizon Communications Inc and Royalty Pharma Plc, which buys drug royalties. The changes were described in a regulatory filing describing Berkshire’s U.S.-listed equity investments as of…
By Karen Brettell NEW YORK (Reuters) – The safe-haven U.S. dollar bounced on Monday while commodity-sensitive currencies including the Australian dollar tumbled after a new batch of disappointing Chinese data bolstered global recession worries. Chinese industrial output, retail sales and fixed-asset investment all fell short of analyst estimates in data published on Monday, as a…
STOCKHOLM (AP) — Norway’s exports reached a record in July, driven mainly by natural gas prices that have soared since Russia’s invasion of Ukraine. The Scandinavian country’s statistics agency on Monday said Norwegian exports reached 229 billion kroner ($24 billion) last month, 0.4% higher than the previous record set in March this year. Norway’s trade…
By Pete Schroeder WASHINGTON (Reuters) -The U.S. Federal Reserve said on Monday it had finalized guidelines for how it will review requests by banks, fintechs and other firms to access the central bank’s master accounts and payment systems. The final product, which is substantially similar to proposals the Fed floated in May 2021 and March…
By Scott Murdoch, Kane Wu and Xie Yu HONG KONG (Reuters) -The move to delist five Chinese state-owned enterprises (SOEs) from the New York Stock Exchange (NYSE) signals Beijing may be willing to compromise in order to strike an audit deal with the United States and end a more than decade-old dispute, analysts and advisers…
SALT LAKE CITY (AP) — Banks along parts of the Colorado River where water once streamed are now just caked mud and rock as climate change makes the Western U.S. hotter and drier. More than two decades of drought have done little to deter the region from diverting more water than flows through it, depleting…
By Chibuike Oguh New York (Reuters) – Global equities and the U.S. dollar advanced on Monday despite weaker-than-expected economic data in China that prompted the country’s central bank to cut its lending rate, stoking concerns of a global recession. The People’s Bank of China unexpectedly cut key interest rates on Monday after the world’s second-largest…
(Reuters) – Emergent BioSolutions Inc said on Friday it had received a warning letter from the U.S. Food and Drug Administration, citing certain deficiencies at the contract drugmaker’s manufacturing facility in Baltimore, Maryland. The FDA pointed to deficiencies in cleaning and maintenance of equipment to prevent contamination of drug product and also recommended the company…
KYIV, Ukraine (AP) — At least three Ukrainian civilians have been killed and 20 others wounded in the latest artillery barrages from the Russian military, Ukrainian officials said Monday. The eastern region of Donetsk, one of the two provinces making up the country’s industrial heartland of Donbas that has been the focus of a Russian…
BOSTON (Reuters) – Hedge fund Third Point on Monday unveiled a new position in Walt Disney Co and made a string of suggestions, ranging from spinning off cable sports channel ESPN to share buybacks to new board members, to improve the company’s fortunes. Billionaire investor Daniel Loeb, who runs Third Point, made a u-turn on…
