Buffett’s Berkshire adds Synchrony, sheds GE
NEW YORK (Reuters) – Warren Buffett’s Berkshire Hathaway Inc on Monday said it added a stake in Synchrony Financial, boosting its bet on the credit card industry, and shed its investment in the company’s former parent, General Electric Co.
Trump orders probe of China’s intellectual property practices
WASHINGTON (Reuters) – President Donald Trump on Monday authorized an inquiry into China’s alleged theft of intellectual property in the first direct trade measure by his administration against Beijing, but one that is unlikely to prompt near-term chan…
Corvex warns of proxy fight with Energen after raising stake
(Reuters) – Corvex Management threatened a proxy battle against Energen Corp if the U.S. oil and gas producer did not agree to add the activist investor’s nominees to its board.
Qualcomm outlines impact of dispute with Apple after SEC request
(Reuters) – Chipmaker Qualcomm Inc on Monday disclosed further details about the impact of an ongoing dispute with Apple Inc, responding to questions from the U.S. Securities and Exchange Commission.
Uber investor gave Kalanick a month before suing to force him off board
(Reuters) – Venture capital firm Benchmark Capital said on Monday it gave Uber Technologies Inc and its ousted chief executive, Travis Kalanick, a month to review its recommendations before filing a lawsuit last week to force Kalanick off the board and…
U.S. hedge funds circle high-flying tech stocks in second-quarter: SEC filings
NEW YORK (Reuters) – U.S. hedge fund managers were active in the FAANG group of high-flying tech stocks in the second quarter, with Third Point increasing its stake in two of the companies and Omega Advisors trimming stakes in three, regulatory filings…
Target appoints Walmart, General Mills executives to shore up grocery business
CHICAGO (Reuters) – Target Corp said on Monday it has hired two former executives from Wal-Mart Inc and General Mills Inc to join its food and beverage business, as the retailer seeks to revamp its grocery aisles.
Dudley tells skeptical markets he sees Fed rate hike: AP
WASHINGTON/NEW YORK (Reuters) – One of the Federal Reserve’s most influential members expects to raise interest rates once more this year, and to soon begin shedding some of the Fed’s bond holdings, according to comments on Monday that pushed back on d…
Pershing Square says ADP CEO misled board on talks with hedge fund
(Reuters) – Activist investor Pershing Square Capital Management LP said on Monday the chief executive of Automatic Data Processing Inc had “unfairly characterized” their interactions in an effort to make the hedge fund’s requests “appear unreasonable…
Facebook expands Marketplace trading service across Europe
FRANKFURT (Reuters) – Facebook is stepping up its modest moves into e-commerce by expanding its service for connecting local buyers and sellers into 17 new European markets, the U.S. company said on Monday.
