Page 930 - Business Finance
Berkshire trims Apple stake; adds SunCor, Red Hat
(Reuters) - Warren Buffett's Berkshire Hathaway Inc said on Thursday it has trimmed its stake in iPhone maker Apple Inc, which is its largest stock investment, and added positions in SunCor Energy Inc and Red Hat Inc.
Nvidia beats fourth-quarter profit estimates, shares rise
(Reuters) - Nvidia Corp on Thursday reported fourth-quarter profit above Wall Street estimates, sending its shares up 9 percent in extended trading.
Exclusive: China offers to end market-distorting subsidies but won't say how
BEIJING/WASHINGTON (Reuters) - China has pledged to end market-distorting subsidies for its domestic industries but offered no details on how it would achieve that goal, according to three people familiar with the U.S.-China trade talks in Beijing this week.
CBS misses revenue estimates on weak content licensing and distribution
(Reuters) - CBS Corp on Thursday reported fourth-quarter revenue below analysts' estimates due to a drop in content licensing and distribution sales, sending its shares down nearly 3 percent in after-hours trading.
Nvidia forecasts first-quarter revenue below estimates
(Reuters) - Nvidia Corp forecast first-quarter revenue below Wall Street estimates on Thursday, as the chip designer struggles with slowing sales to data centres and weak demand for its gaming chips, especially in China.
Charlie Munger targets active managers, Elon Musk; praises China
(Reuters) - Charlie Munger, the longtime business partner of Warren Buffett at Berkshire Hathaway Inc, on Thursday criticized active fund managers, bankers and even Elon Musk as he urged investors to court simplicity and temper expectations for future returns.Munger, 95, often provoked laughter as he fielded questions at the annual meeting of Daily Journal Corp, the Los Angeles newspaper publishing company he chairs, though he is better known for his four decades as a Berkshire vice chairman.
Oil prices edge higher as Wall Street recoups losses
NEW YORK (Reuters) - Oil prices edged higher on Thursday and Brent hit the highest level this year, but gains were capped after the steepest decline in U.S. retail spending since 2009 heightened investor fears of a global economic slowdown.
Israeli software firm DriveNets raises $110 mln in 1st funding round
TEL AVIV (Reuters) - Israeli networking software company DriveNets said on Thursday it raised $110 million in its first round of financing led by Bessemer Venture Partners and Israel's Pitango Growth, with the participation of several private investors.
Wall Street overcomes early losses on grim retail sales data
NEW YORK (Reuters) - Wall Street struggled to reverse early losses on Thursday as an unexpected drop in retail sales dampened investor hopes for progress at the ongoing U.S.-China trade talks in Beijing.
Gold rises as weak U.S. economic data drags dollar lower
(Reuters) - Gold prices rose on Thursday as the dollar fell on weak economic data from the United States, which bolstered expectations the Federal Reserve would stick to its dovish stance on monetary policy.
General Electric scraps plan for 12-story Boston headquarters
NEW YORK (Reuters) - General Electric Co scrapped plans for a 12-story headquarters office tower on Boston's waterfront on Thursday, choosing instead to lease smaller buildings nearby and return $87 million in incentives to the state.
Banks have not moved enough staff from London to EU for Brexit: Bundesbank
FRANKFURT (Reuters) - Some banks that conduct their euro zone business from London have failed to meet regulators' expectations to move enough staff into other EU countries in time for Brexit, the German bank supervisor Joachim Wuermelling said on Thursday.
Finance Minister to address RBI Central Board on Feb 18
The Reserve Bank of India on Thursday said that Finance Minister Piyush Goyal will address its Central Board on February 18.
Ford CFO to retire: CNBC
(Reuters) - Ford Motor Co Chief Financial Officer Bob Shanks plans to retire and is expected to stay through the end of the year, CNBC reported on Thursday, citing sources.
Weakest U.S. retail sales since 2009 cast pall over economy
WASHINGTON (Reuters) - U.S. retail sales recorded their biggest drop in more than nine years in December as receipts fell across the board, suggesting a sharp slowdown in economic activity at the end of 2018.
U.S. retail sales post largest drop since 2009; jobless claims up
WASHINGTON (Reuters) - U.S. retail sales recorded their biggest drop in more than nine years in December as receipts fell across the board, suggesting a sharp slowdown in economic activity at the end of 2018.
Wall Street regains lost ground as trade optimism offsets bleak retail data
(Reuters) - U.S. stocks recovered from declines triggered by bleak retail data to trade flat on Thursday, as investors focused on signs of progress in the ongoing U.S.-China trade talks.
Pramod Chandra Mody new CBDT chairman
Senior IRS officer Pramod Chandra Mody was on Thursday appointed as the chairman of Central Board of Direct Taxes (CBDT), top policy making body of income tax department, according to a Personnel Ministry order. Mody, a 1982 batch Indian Revenue Service (Income Tax cadre), has been appointed in place of Sushil Chandra, who who earlier Thursday named as an Election Commissioner ahead of the Lok Sabha polls due this summer. Mody is at present member in the CBDT. The CBDT is headed by a chairman and can have a maximum of six members. After the latest appointment, there is a vacancy of two more members in the board.
Gold rises as weak U.S. economic data drags dollar
(Reuters) - Gold prices rose on Thursday as the dollar fell on weak economic data from the United States, which bolstered expectations the Federal Reserve would stick to its dovish stance on monetary policy.
Government working on 0% import duty on cashew kernel: Prabhu
As a measure of support for India's cashew industry, the government is working on eliminating the import duty on cashew kernel, Commerce Minister Suresh Prabhu said on Thursday.