Warren Buffett urges investors to stick with index funds

Reuters Business News - 3 hours 21 min ago
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."
Categories: business

Buffett upbeat on American business; Berkshire operating profit down

Reuters Business News - 3 hours 21 min ago
(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."
Categories: business

Gundlach expects U.S. 10-year T-note yield to drop below 2.25 percent

Reuters Business News - 5 hours 44 min ago
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.
Categories: business

Record-setting stock rally faces test in Trump speech

Reuters Business News - Sat, 2017-02-25 01:33
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.
Categories: business

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

Reuters Business News - Sat, 2017-02-25 01:13
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.
Categories: business

Wall Street edges higher to give Dow 11th straight record

Reuters Business News - Sat, 2017-02-25 01:11
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.
Categories: business

Citi says U.S. regulators are investigating its hiring practices

Reuters Business News - Sat, 2017-02-25 00:38
(Reuters) - Citigroup Inc on Friday said that U.S. government and regulatory agencies are investigating the bank's hiring practices.
Categories: business

BCBS, Cigna among insurer groups to meet with Trump on Monday

Reuters Business News - Fri, 2017-02-24 21:58
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.
Categories: business

Ghosts of past tech IPOs could haunt Snap's performance

Reuters Business News - Fri, 2017-02-24 21:04
(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.
Categories: business

Porsche, Audi lift VW to record underlying profit

Reuters Business News - Fri, 2017-02-24 20:09
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.
Categories: business

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

Reuters Business News - Fri, 2017-02-24 17:46
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.
Categories: business

Boeing to open first European factory, to invest 20 million pounds

Reuters Business News - Fri, 2017-02-24 17:35
(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.
Categories: business

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

Reuters Business News - Fri, 2017-02-24 16:55
(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.
Categories: business

On visit to London, Peugeot boss offers reassuring words on Vauxhall plants

Reuters Business News - Fri, 2017-02-24 14:52
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.
Categories: business

February U.S. auto sales seen up 0.6 percent: JD Power-LMC

Reuters Business News - Fri, 2017-02-24 14:40
(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.
Categories: business

China says no intention of using currency devaluation to its advantage

Reuters Business News - Fri, 2017-02-24 12:49
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.
Categories: business

Stocks ease, dollar poised for weekly loss as Trump rally pauses

Reuters Business News - Fri, 2017-02-24 10:31
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.
Categories: business

VW's Porsche-Piech clan backs brand chief despite criticism: sources

Reuters Business News - Fri, 2017-02-24 10:23
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.
Categories: business

Oil futures suggest bullish funds' big bet on price may pay off

Reuters Business News - Fri, 2017-02-24 09:37
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.
Categories: business

Toshiba says not aware Westinghouse considering Chapter 11 filing

Reuters Business News - Fri, 2017-02-24 09:25
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.
Categories: business

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