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Warren Buffett says Berkshire not planning to buy Occidental Petroleum

7 May 2023

By Jonathan Stempel and Carolina Mandl OMAHA, Nebraska (Reuters) – Warren Buffett said on Saturday that Berkshire Hathaway Inc is not planning to acquire Occidental Petroleum Corp but remains happy with its large investment in the oil company. Speaking at Berkshire’s annual shareholder meeting, Buffett rejected speculation that Berkshire would buy Occidental after having accumulated …

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Berkshire shareholders reject climate, diversity proposals; keep Buffett as chairman

7 May 2023

By Jonathan Stempel OMAHA, Nebraska (Reuters) – Berkshire Hathaway Inc shareholders on Saturday overwhelmingly rejected six proposals for environmental, social and governance changes at Warren Buffett’s conglomerate, all of which the billionaire investor and his board opposed. By margins of at least 3-to-1, shareholders voted against three proposals that Berkshire disclose more about its climate-related …

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Warren Buffett says Berkshire cautious on banking sector

7 May 2023

By John McCrank NEW YORK (Reuters) – Warren Buffett on Saturday said Berkshire Hathaway is cautious around the banking sector, largely because of poor messaging by officials around government-insured deposits, as well as distorted incentives he said were brought on by banking regulation. A crisis of confidence in the U.S. banking sector has led to …

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Fox asks Dominion Voting to probe leaks of Tucker Carlson messages

7 May 2023

By Jack Queen (Reuters) – Fox News on Friday asked lawyers for Dominion Voting Systems to investigate whether they leaked controversial internal messages from ousted Fox host Tucker Carlson that were provided in evidence for their recent defamation lawsuit. The requests, which were made in letters released by Fox, came after multiple news outlets published …

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ISS advises Shell shareholders to vote against climate activist resolution

7 May 2023

LONDON (Reuters) – Shell shareholders should vote against a climate activist resolution seeking faster emissions cuts, proxy advisory firm Institutional Shareholder Services (ISS) said on Saturday, while acknowledging the merits of the proposal. Shell investors will vote at an annual general meeting on May 23 on a resolution filed by the Follow This activist shareholder …

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Assa, Spectrum Brands reach settlement with US on deal

6 May 2023

(Reuters) -Sweden’s Assa Abloy AB, the world’s No. 1 lock maker, and U.S.-based Spectrum Brands Holdings said on Friday they have reached a settlement with the U.S. Justice Department regarding Assa’s $4.3 billion proposed deal to buy Spectrum’s hardware and home improvement (HHI) division. The Justice Department last year sued to block the proposed deal …

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Judge tosses FTC lawsuit accusing broker of unfair geolocation data sales

6 May 2023

(Reuters) – A federal judge in Idaho on Thursday dismissed the U.S. Federal Trade Commission’s lawsuit against Kochava Inc alleging that the data broker unfairly sold geolocation data but gave the regulator an opportunity to revise its case. In a 35-page ruling, U.S. District Court Judge Lynn Winmill granted a motion the Idaho-based company filed …

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FDIC mulls loss-sharing with nonbanks to boost bids on failed lenders – Bloomberg News

6 May 2023

(Reuters) -The U.S. Federal Deposit Insurance Corp (FDIC) is mulling whether to offer loss-sharing agreements to private equity firms and other nonbanks that buy parts of failed lenders, after it was left holding a large portfolio of Signature Bank loans following its collapse, Bloomberg News reported on Friday. Since the FDIC does not regulate nonbanks, …

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Wall Street Week Ahead: U.S. consumer price data to test feared stagflation scenario

6 May 2023

By David Randall NEW YORK (Reuters) – Fears of stagflation are percolating on Wall Street, as investors await data that could shed light on whether the Federal Reserve is succeeding in tamping down inflation without badly hurting growth. Stagflation – a combination of stagnant growth and persistent inflation that dogged the U.S. in the 1970s …

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