(Reuters) – Tens of thousands of people are descending on Omaha, Nebraska to attend the annual shareholder weekend for billionaire investor Warren Buffett’s Berkshire Hathaway Inc. Buffett, 92, and Vice Chairman Charlie Munger, 99, are due to answer about five hours of shareholder questions at Berkshire’s annual meeting on Saturday. The meeting will be broadcast…
(Reuters) – PacWest Bancorp said late on Wednesday that it was in talks with potential partners and investors about strategic options after shares of the lender and several other U.S. regional banks tumbled amid fears of a worsening banking crisis. It has not experienced any unusual deposit outflows since the sale of First Republic Bank…
(Reuters) -Johnson & Johnson’s consumer health spinoff Kenvue Inc rose 16% and fetched a valuation of about $48 billion in its market debut on Thursday, marking the biggest U.S. initial public offering since 2021. Shares of the Listerine mouthwash maker debuted at $25.53 each, compared with their offer price of $22 apiece. J&J sold 172.8…
CAIRO (Reuters) – Arab foreign ministers will meet at the Arab League in Cairo on Sunday to discuss Syria, a League spokesman said, amid a regional push to normalise ties with Syrian President Bashar al-Assad after a decade of estrangement. The foreign ministers will hold a separate meeting on Sunday to address the conflict that…
By Steve Scherer and David Ljunggren OTTAWA, May 4 (Reuters) – Canadian inflation risks getting stuck significantly above the Bank of Canada’s 2% target, and if that happens the central bank is ready to hike interest rates rates further, Governor Tiff Macklem said on Thursday. Last month the Bank of Canada left its key overnight…
(Reuters) – North Carolina’s Republican-dominated House on Wednesday passed and sent to the state Senate a controversial bill limiting most abortions to the first 12 weeks of pregnancy, a sharp drop from the state’s current limit of 20 weeks’ gestation. The bill passed 71-46 along party lines, with one Republican and two Democratic lawmakers not…
By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) – The European Central Bank slowed the pace of its interest rate increases on Thursday but signalled more tightening to come in what markets expect to be the final stage of its fight against inflation. All ECB policymakers but one, Austria’s Robert Holzmann, backed the 25-basis-point increase…
(Reuters) -U.S. Senator Elizabeth Warren has accused First Republic Bank executives of “mismanagement” in a letter to its former CEO Micahel Roffler and raised questions on the failed lender’s risk management as well as pay and bonuses. “You owe your customers and the public an explanation for the decisions that resulted in the costly failure…
By Daniel Wiessner (Reuters) – U.S. appeals court judges on Thursday expressed skepticism that Starbucks Corp hurt a union organizing effort when it fired seven leaders, and appeared open to the coffee chain’s argument that doing so did not violate federal labor law. The case involving a Starbucks cafe in Memphis, Tennessee is one of…
By Daniel Wiessner (Reuters) – U.S. appeals court judges on Thursday expressed skepticism that Starbucks Corp hurt a union organizing effort when it fired seven leaders, and appeared open to the coffee chain’s argument that doing so did not violate federal labor law. The case involving a Starbucks cafe in Memphis, Tennessee is one of…
