(Reuters) -Warren Buffett announced he would pass the reins as CEO to Vice Chairman Greg Abel, as he presided over his 60th Berkshire Hathaway shareholder meeting on Saturday, giving views on everything from trade to investment opportunities for the conglomerate. The meeting comes against a backdrop of a rollercoaster start to the year from markets …
NEW YORK (Reuters) – Warren Buffet said on Saturday that Vice Chairman Greg Abel should become Berkshire Hathaway’s chief executive officer at the end of this year. Buffett’s announcement was made during Berkshire’s annual meeting in Omaha. (Reporting by Carolina Mandl in New York; Editing by Andrea Ricci)
By Matthew Majendie MIAMI (Reuters) -Reduced profit expectations and a potential $5 billion hit from automotive tariffs will not affect Cadillac’s Formula One debut next season, General Motors President Mark Reuss said on Saturday. Cadillac’s parent company GM cut its 2025 profit forecast this week in the wake of uncertainty over the wide-reaching tariffs introduced …
Motor racing-GM says Cadillac F1 project not affected by auto tariff hit Read More »
By Jonathan Stempel (Reuters) – Berkshire Hathaway’s Geico car insurance unit has made progress in upgrading its technology to better match rates with risk, Berkshire Vice Chairman Ajit Jain said on Saturday. Jain, who has day-to-day oversight of Berkshire’s insurance operations, spoke at the conglomerate’s annual meeting in Omaha, Nebraska where he, Chairman Warren Buffett …
Berkshire’s Jain says Geico has made “rapid strides” Read More »
By Jonathan Stempel and Carolina Mandl OMAHA, Nebraska/NEW YORK (Reuters) -Warren Buffett’s Berkshire Hathaway on Saturday posted a lower operating profit in the first quarter, dented by insurance losses from wildfires and foreign currency changes, while its cash stake grew to a record $347.7 billion. Operating profit for the Omaha, Nebraska-based conglomerate dropped 14% to …
Wildfires dent Berkshire’s profit; cash soars to $347.7 billion Read More »
By David Shepardson (Reuters) -United Airlines CEO Scott Kirby said on Friday that the carrier will begin canceling 35 flights a day – or about 10% – at its Newark hub starting this weekend due to government equipment failures and air traffic control staffing issues. Throughout the week, United was forced to delay, cancel or …
United to cancel 10% of daily flights from Newark, cites FAA staffing, equipment Read More »
WASHINGTON (Reuters) -President Donald Trump said on Friday the U.S. was in a “transition period” and was going to do “fantastically” while downplaying the impact any short-term recession may have. When asked during an interview with NBC News whether it would be OK to have a recession in the short term, Trump said: “Look, yeah, …
Trump says US in transition period, downplays impact of short-term recession Read More »
By Trevor Hunnicutt WASHINGTON (Reuters) -President Donald Trump on Wednesday counseled patience, cast blame and claimed victory in the face of a first-quarter U.S. economic contraction and tariffs that have taken a bite out of his popularity, saying a resurgence was around the corner. The U.S. Commerce Department’s advance gross domestic product data on Wednesday …
Trump struggles to explain weak economic data as he reaches 100-day mark Read More »
By Chibuike Oguh and Sruthi Shankar NEW YORK (Reuters) -Wall Street stocks advanced on Friday, notching the second straight week of gains, helped by strong economic data and potential easing of trade tensions between the U.S. and China. The U.S. economy added 177,000 jobs in April, exceeding expectations, while the unemployment rate held steady at …
Wall Street stocks buoyed by strong economic data, possible US-China trade talks Read More »
By Jessica DiNapoli NEW YORK (Reuters) -Ice cream maker Ben & Jerry’s said late on Friday that billionaire activist investor Nelson Peltz, who is on its parent company Unilever’s board, has increased his influence over the consumer goods conglomerate, including on political issues. Unilever and the unit have been locked in a bitter legal dispute …
Ben & Jerry’s cites investor Peltz’s growing influence over parent company Unilever Read More »
