Berkshire trims Apple stake; adds SunCor, Red Hat
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.
Feeling unwelcome, Amazon ditches plans for New York hub
Amazon.com Inc abruptly scrapped plans to build a major outpost in New York that could have created 25,000 jobs, blaming opposition from local leaders upset by the nearly $3 billion in incentives promised by state and city politicians.
CBS misses revenue estimates on weak content licensing and distribution
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.
Exclusive: China offers to end market-distorting subsidies but won’t say how
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.
#FedValentines is back; roses, rates and job market slack
In January, the Federal Reserve delivered what investors took as a kind of love letter, a rate-hike pause that sent stock markets soaring. On Valentine’s Day, U.S. central bankers offered tender missives of a different sort.
Charlie Munger targets active managers, Elon Musk; praises China
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.
Retailer Payless ShoeSource set to shutter its U.S. stores: sources
U.S. discount retailer Payless ShoeSource Inc plans to close all of its approximately 2,300 stores when it files for bankruptcy later this month for the second time in as many years, people familiar with the matter said on Thursday.
Airbus A380 production halt to fuel transatlantic trade spat
Airbus’s decision to shut production of the A380 looks set to reignite a translatlantic trade row over mutual claims of illegal aircraft subsidies, even as Airbus implements a two-year plan to stop making the world’s largest airliner.
Bollore to hand over Vivendi to sons as Universal rumors swirl
Billionaire Vincent Bollore will further withdraw from Vivendi’s management at a crucial time for the French media giant, which is struggling in Italy and is weighing the sale of Universal Music Group (UMG).
U.S. tax refunds down nearly 9 percent vs year ago: IRS data
The average U.S. tax refund under President Donald Trump’s tax overhaul is down nearly 9 percent so far in this year’s tax filing season, according to Internal Revenue Service data released on Thursday.
