By Saeed Azhar, David French and Tatiana Bautzer NEW YORK (Reuters) -The government-brokered purchases of First Republic, Signature and Silicon Valley banks have created a vicious cycle in which troubled lenders need to fail — and get government assistance — before buyers will step up, industry sources say. The latest case in point: The Federal…
DUBAI (Reuters) -Saudi Arabia’s economy grew by 3.9% year-on-year in the first quarter of 2023, according to initial government estimates of real gross domestic product published on Sunday. Non-oil activities grew by 5.8% in the first quarter from a year prior, the General Authority for Statistics said, citing flash estimates, while oil activities grew by…
BEIJING (Reuters) – China’s foreign exchange reserves rose more than expected in April, official data showed on Sunday, as the dollar fell against other major currencies. The country’s foreign exchange reserves – the world’s largest – rose $21 billion to $3.205 trillion last month, compared with $3.192 trillion tipped by a Reuters poll of analysts…
By Jack Queen (Reuters) – Fox News on Friday asked lawyers for Dominion Voting Systems to investigate whether they leaked controversial internal messages from ousted Fox host Tucker Carlson that were provided in evidence for their recent defamation lawsuit. The requests, which were made in letters released by Fox, came after multiple news outlets published…
By John McCrank NEW YORK (Reuters) – Warren Buffett on Saturday said Berkshire Hathaway is cautious around the banking sector, largely because of poor messaging by officials around government-insured deposits, as well as distorted incentives he said were brought on by banking regulation. A crisis of confidence in the U.S. banking sector has led to…
By Jonathan Stempel and Carolina Mandl OMAHA, Nebraska (Reuters) – Warren Buffett said on Saturday that Berkshire Hathaway Inc is not planning to acquire Occidental Petroleum Corp but remains happy with its large investment in the oil company. Speaking at Berkshire’s annual shareholder meeting, Buffett rejected speculation that Berkshire would buy Occidental after having accumulated…
By Jonathan Stempel, Carolina Mandl and John McCrank OMAHA/NEW YORK (Reuters) -Warren Buffett on Saturday offered a vote of confidence in the United States while warning about growing partisanship in Washington, ahead of a looming debt ceiling showdown he said could bring “turmoil” to the global financial system. Speaking at the annual meeting of his…
By Jonathan Stempel and John McCrank OMAHA, Nebraska (Reuters) – Warren Buffet on Saturday said he is more comfortable with Berkshire Hathaway Inc deploying capital in Japan than Taiwan, reflecting the growing tensions between the United States and China. The billionaire investor contrasted Berkshire’s recently increased investments in five Japanese trading houses with its recent…
By Jonathan Stempel, Carolina Mandl and John McCrank OMAHA/NEW YORK (Reuters) -Warren Buffett on Saturday offered a vote of confidence in the United States, saying he could not imagine the government letting it default on its debt and risk letting the world’s financial system “go into turmoil.” Speaking at Berkshire Hathaway Inc’s annual meeting in…
By Jonathan Stempel OMAHA, Nebraska (Reuters) – Warren Buffett said on Saturday he could not imagine Washington allowing the U.S. to default on its debt by refusing to raise the country’s debt ceiling, and risk disrupting the world’s financial system by letting the world “go into turmoil.” Speaking at Berkshire Hathaway Inc’s annual meeting in…
