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Buffett defends Berkshire’s Coke stake, warns on BNSF
Warren Buffett on Saturday defended several of Berkshire Hathaway Inc's larger or struggling investments, including Coca-Cola and the BNSF railroad. Speaking to tens of thousands of shareholders at Berkshire's annual meeting in Omaha, Nebraska, Buffett and Vice Chairman Charlie Munger also touched on many other issues including the 2016 U.S. presidential election, the risks of derivatives,... [Read more]
Oil jumps to 2016 highs as dollar drops on Fed decision
By Barani Krishnan NEW YORK (Reuters) – Oil prices jumped about 3 percent on Wednesday, hitting new highs for 2016 as the dollar weakened after the Federal Reserve announced it would leave U.S. interest rates unchanged. Oil had risen early, the day after an industry group said U.S. crude inventories had dropped in the latest week. In early afternoon, the Fed announced it was leaving interest... [Read more]
Ford not interested in tie-up with Fiat Chrysler: CEO Fields
Ford Motor Co is not interested in a tie-up with Fiat Chrysler Automobiles NV , Chief Executive Mark Fields said on Saturday, when asked about FCA head Sergio Marchionne's remark that Ford could be a potential merger candidate. “I can't speak to what Sergio or others wake up and want to say,” Fields told reporters ahead of next week's Beijing motor show. After being… Read... [Read more]
Toshiba in final talks on new president; Tsunakawa top candidate: source
Japan's Toshiba Corp is in final talks to replace President Masashi Muromachi, with Senior Executive Vice President Satoshi Tsunakawa a leading candidate as it aims to turn the scandal-hit firm back to growth, a source told Reuters on Sunday. The source, who is familiar with the matter, indicated Tsunakawa was a top candidate, saying the successor would be likely be one of three senior … View... [Read more]
Mitsubishi Motors may skip earnings forecast due to data scandal: source
Mitsubishi Motors Corp is unlikely to issue an earnings forecast for the current financial year when it announces annual results this week, due to uncertainty about the financial impact of its misleading fuel economy data, a person close to the company told Reuters on Sunday. The Japanese automaker is under investigation by the transport ministry after saying last week that it overstated the fuel... [Read more]
Fed seen holding rates this week with hike still on horizon
By Jonathan Spicer and Ann Saphir NEW YORK/SAN FRANCISCO (Reuters) – U.S. Federal Reserve policymakers are expected to hold interest rates steady when they meet this week, but may tweak their description of the economic outlook to reflect more benign conditions, leaving the path open for future rate rises. The Fed raised its policy interest rate last December for the first time in a decade when... [Read more]
Fiat Chrysler recalls 1.1 million cars, SUVs for rollaway issue
By David Shepardson WASHINGTON (Reuters) – Fiat Chrysler Automobiles NV said on Friday it is recalling more than 1.1 million cars and SUVs worldwide because the vehicles may roll away after drivers exit. The recall covers the 2012-2014 Dodge Charger and Chrysler 300 sedans… Read the rest here: Fiat Chrysler recalls 1.1 million cars, SUVs for rollaway issue Read More →
Volkswagen takes $18 billion hit over emissions scandal
By Andreas Cremer and Edward Taylor WOLFSBURG/FRANKFURT (Reuters) – Volkswagen (VW) said on Friday it would take a 16.2-billion-euro ($18.2 billion) hit to its 2015 results and slash its dividend to help pay for its emissions-test cheating scandal. The news came amid growing signs a regulatory clampdown in the wake of VW's cheating is affecting the broader industry, with Germany-based automakers... [Read more]
Mitsubishi Motors shares dive, Japan officials raid facility
By Chang-Ran Kim TOKYO (Reuters) – Japanese officials raided a facility belonging to Mitsubishi Motors Corp on Thursday after the carmaker admitted to overstating the fuel efficiency of 625,000 cars, a revelation that has sent its shares into a tailspin. A spokeswoman for the company said the raid by members of … Read more: Mitsubishi Motors shares dive, Japan officials raid facility Read More →
Viacom shares soar after deal to renew Dish contract
Viacom Inc said on Thursday it has renewed a multiyear distribution contract with satellite TV provider Dish Network Corp, lifting the media company's shares over 11 percent. The companies had been in talks for several months over whether Dish would continue to carry Viacom's 18 channels, which include Nickelodeon, Comedy Central and MTV, and at what price, for its 14 million subscribers.... [Read more]