OMAHA, Neb. (AP) — Warren Buffett’s company completed its largest acquisition in years Wednesday with its $11.6 billion purchase of the Alleghany insurance conglomerate. The purchase announced in March will further expand Berkshire’s sizeable insurance operations and add a few more companies to its stable, including a steel fabricator and toy company owned by Alleghany….
By Blake Brittain (Reuters) -A Delaware jury on Friday ordered Illumina Inc to pay more than $333 million to a U.S. unit of Chinese genetic analysis company BGI Genomics after finding that Illumina’s DNA-sequencing systems infringed two patents. The jury also said https://tmsnrt.rs/39K62Cz Illumina infringed the patents willfully, and that three patents it had accused…
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…
DUBLIN (Reuters) – Air Lease Corp is pursuing “vigorous” insurance claims over jets stranded in Russia following changes in the law preventing their repossession, Steven Udvar-Hazy, founder and executive chairman of the U.S. lessor, told the Airline Economics conference. It would have been difficult for the leasing industry to prepare for such a “once in…
By Tatiana Bautzer, Lananh Nguyen and Saeed Azhar NEW YORK (Reuters) – Morgan Stanley’s James Gorman plans to step down as chief executive within a year but stay on as executive chairman, drawing to a close 13 years in the role during which he built the Wall Street firm into a wealth management powerhouse. Gorman,…
By Leika Kihara WASHINGTON (Reuters) – Bank of Japan Deputy Governor Masazumi Wakatabe said on Saturday the yen’s recent fluctuations were “clearly too rapid and too one-sided,” signalling caution over the potential economic damage from the currency’s slump to 32-year lows against the dollar. Wakatabe, speaking in a seminar during the IMF and World Bank…
LONDON (Reuters) – WhatsApp and other messaging services have united to oppose Britain’s plan to force tech companies to break end-to-end encryption in private messages in its proposed internet safety legislation. Meta-owned WhatsApp, Signal and five other apps signed an open letter saying the law could give an “unelected official the power to weaken the…
By Khalid Abdelaziz PORT SUDAN (Reuters) – Elsafi Mahdi was separated from his wife and three younger children on June 1 near Sudan’s border with Egypt. He does not know when he’ll see them again. Like many families fleeing the war in the capital Khartoum, Mahdi, a prominent music teacher and conductor, left home without…
By David Shepardson WASHINGTON (Reuters) -U.S. aviation regulators are forecasting nearly 313,000 flights over the seven-day Memorial Day holiday period, up 4.5% from 2022 and just below 2019 pre-pandemic levels. The Federal Aviation Administration said the traditional seven-day kickoff to the busy U.S. summer travel season will surpass the 299,500 flights flown in the same…
MEXICO CITY (Reuters) – A vote in which nearly 1,700 workers at Mexico’s Tridonex auto-parts plant will have the chance to elect a new union has been pushed back one week to Feb. 28, according to an official document seen by Reuters on Saturday. Workers at the plant in the northern Mexico city of Matamoros…