By Jonathan Stempel OMAHA, Nebraska (Reuters) – Warren Buffett’s Berkshire Hathaway Inc posted a $35.5 billion first-quarter profit on Saturday, reflecting gains from stocks such as Apple Inc, while higher investment income and a rebound at car insurer Geico bolstered operating results. Berkshire also sped up repurchases of its own stock, buying back $4.4 billion,…
LONDON (Reuters) – Shell shareholders should vote against a climate activist resolution seeking faster emissions cuts, proxy advisory firm Institutional Shareholder Services (ISS) said on Saturday, while acknowledging the merits of the proposal. Shell investors will vote at an annual general meeting on May 23 on a resolution filed by the Follow This activist shareholder…
BANGKOK (Reuters) – China’s Hozon New Energy Automobile will make electric vehicles in Thailand for the Southeast Asian market, a Thai official said on Saturday, as it follows others in building facilities in the region’s major auto production hub. Hozon signed an agreement with Thailand’s Bangchan General Assembly this week to start production of its…
(Reuters) – Russian carmaker GAZ has filed a lawsuit worth 15.6 billion roubles ($200.5 million) against Volkswagen, court records show, adding to two others filed earlier this year. The lawsuit, details of which have not been published, was filed with the Nizhny Novgorod Regional Arbitration Court on Friday. GAZ did not immediately respond to Reuters’…
(Reuters) -UBS Group AG’s Chief Executive Sergio Ermotti has shortlisted the Credit Suisse Group AG’s executives most likely to become part of the management team, the Financial times reported on Saturday, citing people familiar with the plans. Dixit Joshi, chief financial officer, Francesca McDonagh, chief operating officer, and André Helfenstein, head of the Swiss business,…
By Jonathan Stempel OMAHA, Nebraska (Reuters) -Warren Buffett is set to preside over Berkshire Hathaway Inc’s annual meeting for the 59th time on Saturday as investors make their pilgrimage to hear the investing legend, at a time of turmoil for the banking industry and as trouble looms for the economy. Tens of thousands of people…
(Reuters) – MSCI will lower the free float of two of India’s Adani Group companies, Adani Total Gas and Adani Transmission in its May index review, the financial index provider said on Friday. MSCI now sees the Adani Total Gas’ free float at 14% and Adani Transmission at 10%, from 25%. Free float is defined…
(Reuters) – Ford Motor Co said on Friday that it will open orders for its popular F-150 Lightning truck next week as part of their plan to scale to annual production of 150,000 units. Ford is facing another production snag on the F-150 pickup trucks due to missing door handles, a source told Reuters on…
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…
(Reuters) – A federal judge in Idaho on Thursday dismissed the U.S. Federal Trade Commission’s lawsuit against Kochava Inc alleging that the data broker unfairly sold geolocation data but gave the regulator an opportunity to revise its case. In a 35-page ruling, U.S. District Court Judge Lynn Winmill granted a motion the Idaho-based company filed…
