NEW YORK (Reuters) - Billionaire Warren Buffett, whose stock picks over several decades have turned Berkshire Hathaway Inc into one of the most successful conglomerates, delivered another black eye to the investment management industry on Saturday, saying investors should "stick with low-cost index funds."
(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.In his annual letter to Berkshire shareholders, Buffett said investors "will almost certainly do well" by staying with the long term with a "collection of large, conservatively financed American businesses."
NEW YORK (Reuters) - Jeffrey Gundlach, chief executive of DoubleLine Capital, said on Friday he expects the yield on the benchmark 10-year U.S. Treasury note to drop below 2.25 percent as global investors seek safety.
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.
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.
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.
(Reuters) - Citigroup Inc on Friday said that U.S. government and regulatory agencies are investigating the bank's hiring practices.
NEW YORK (Reuters) - The Blue Cross Blue Shield Association, which represents insurers in every state, Cigna Corp and Humana Inc said on Friday they would attend a meeting between the health insurance industry and President Donald Trump on Monday.
(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.
WOLFSBURG, Germany (Reuters) - Record Audi and Porsche sales helped Volkswagen swing to a record underlying profit in 2016, although a bigger than expected charge from the diesel emissions scandal meant it missed estimates for its operating profit.
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.
(Reuters) - Boeing Co said it would invest 20 million pounds ($24.98 million) to open its first production facility in Europe to make components for certain aircraft.
(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.
LONDON (Reuters) - The head of French carmaker PSA played down the threat to British factories when he discussed the potential takeover of GM's European operations with union officials and politicians in London on Friday.
(Reuters) - U.S. auto sales in February will increase less than 1 percent from a year earlier, even as consumer discounts remain at record levels, industry consultants J.D. Power and LMC Automotive said on Friday.
BEIJING (Reuters) - China said on Friday it had no intention of using currency devaluation to its advantage in trade, responding to U.S. President Donald Trump's description of the Asian giant as the "grand champions" of currency manipulation.
LONDON (Reuters) - Commodity-related sectors led European shares lower for a third straight session on Friday while the dollar was poised for a weekly losses as the "Trumpflation trade" lost momentum.
HAMBURG (Reuters) - Volkswagen's embattled VW brand chief Herbert Diess still has the backing of the clan that controls the carmaker, despite his recurring clashes with labor leaders over cost-cutting plans, sources said.
LONDON (Reuters) - Oil investors have placed the biggest bet in history that prices will rise, as the world's largest exporters cut output to reduce a glut in supply, and the futures market is suggesting for the first time in a year that they could be onto a winner.
TOKYO (Reuters) - Toshiba Corp , responding to media reports, said on Friday it was not aware that its U.S. nuclear unit Westinghouse was considering filing for Chapter 11 protection from creditors - an option analysts say could jeopardize the entire group.