Business News

  • Buffett upbeat on American business; Berkshire operating profit down

    (Reuters) - Warren Buffett on Saturday mounted a forceful and upbeat defense of the prospects for American business, as his Berkshire Hathaway Inc reported a higher quarterly profit though operating income fell.

  • Warren Buffett rails against fee-hungry Wall Street managers

    NEW YORK (Reuters) - Billionaire Warren Buffett, whose stock picks over several decades have enriched generations of Berkshire Hathaway Inc shareholders, delivered a black eye to the investment industry on Saturday, urging ordinary investors to buy plain-vanilla index funds.

  • TCL carries flickering BlackBerry flame with new phone launch

    BARCELONA, Spain (Reuters) - Blackberry Ltd may have exited the device business, but fans of the pioneering email machine need not despair as Chinese smartphone maker TCL Communication has introduced its first Blackberry-licensed phone with the physical keyboard that was long its key allure.

  • Buffett scorns tricky Wall Street accounting, but defends buybacks

    NEW YORK (Reuters) - Billionaire investor Warren Buffett on Saturday attacked what he saw as tricks used by U.S. companies to boost earnings and stock prices, but he defended one oft-criticized practice: share buybacks.

  • Record-setting stock rally faces test in Trump speech

    NEW YORK (Reuters) - U.S. President Donald Trump's planned economic agenda has fanned the flames for Wall Street's record-setting run, but some investors worry that his first major address to Congress next week risks dousing it if his plans look slow to execute or are overly vague.

  • U.S. new home sales rebound; consumer sentiment dips

    WASHINGTON (Reuters) - New U.S. single-family home sales rose less than expected in January, likely held back by heavy rains and flooding in California, but continued to point to a strengthening housing market despite higher prices and mortgage rates.

  • J.C. Penney holiday quarter sales drop, to shut 130-140 stores

    (Reuters) - Department store operator J.C. Penney Co Inc reported a bigger-than-expected drop in same-store sales for the holiday quarter citing weak demand and competition from online retailers, sending shares down to more than a year low.

  • Ghosts of past tech IPOs could haunt Snap's performance

    (Reuters) - Snap Inc appears set to make a splash next week with the biggest tech stock debut since Facebook Inc, but history suggests investors shut out of the initial public offering would be better off waiting a bit to chase this unicorn on the open market.

  • Alphabet's self-driving car unit sues Uber with trade theft charge

    SAN FRANCISCO (Reuters) - Alphabet Inc's Waymo self-driving car unit sued Uber Technologies [UBER.UL] and its autonomous trucking subsidiary Otto on Thursday over allegations of theft of its confidential and proprietary sensor technology.

  • Wall Street edges higher to give Dow 11th straight record

    NEW YORK (Reuters) - Wall Street edged higher on Friday, with the Dow extending its streak of record-setting gains to 11 days, as increases in utilities and other safety plays outweighed declines in financials.

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