Buffett’s Berkshire takes $4.48 billion stake in Phillips 66
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc disclosed a $4.48 billion stake in oil refiner Phillips 66 , rebuilding a bet it had made in the energy industry before oil prices fell.
Raising inflation target won’t help much now: researchers
JACKSON HOLE, Wyo. (Reuters) – The Federal Reserve could have cut short the Great Recession by a year if it had set a 4 percent inflation target in 1984, but raising the target now would probably do little to help the economy, researchers said on Satur…
Yellen ally pours cold water on rule-based monetary policy
JACKSON HOLE, Wyo. (Reuters) – For much of her tenure as head of the Federal Reserve, Janet Yellen has been pressured by Republican lawmakers who want the U.S. central bank to adopt a monetary policy rule, a straightforward formula connecting unemploym…
Syngenta may seek partners, JVs after product review: chairman in paper
ZURICH (Reuters) – Syngenta AG may seek partners to help improve its product lineup after a thorough review in the wake of a rebuffed takeover approach from Monsanto Co , the agrichemicals group’s chairman told a Swiss newspaper.
Ashley Madison courted several buyers, landed none before attack
TORONTO (Reuters) – The owner of adultery website Ashley Madison had already been struggling to sell itself or raise funds for at least three years before the publication of details about its members, according to internal documents and emails also released by hackers as part of their assault on the company in recent weeks.
IMF’s Lagarde says restructuring should suffice for Greek debt
ZURICH (Reuters) – A form of debt restructuring rather than outright forgiveness should enable Greece to handle its “unviable” debt burden, the head of the International Monetary Fund was quoted as telling a Swiss newspaper.
Myanmar sets $2.80 daily minimum wage in bid to boost investment
YANGON (Reuters) – Myanmar has set a minimum wage of 3,600 kyat ($2.80) for an eight-hour work day, a move likely to boost investment in the fast-growing country’s garment industry.
Focus turns to U.S. data as China slowdown looms
NEW YORK (Reuters) – After a dizzying two weeks that saw a rapid plunge and rebound in equity prices, investors are looking forward to a week of economic data that may provide clarity on the likelihood of a near-term U.S. interest rate hike and help ta…
Exclusive: Carlyle looks to sell Landmark Aviation for $1.7 billion
(Reuters) – Private equity firm Carlyle Group LP has been exploring a sale of aircraft leasing and maintenance company Landmark Aviation for as much as $1.7 billion, including debt, people familiar with the matter said on Friday.
Exclusive: Russia’s Kaspersky threatened to ‘rub out’ rival, email shows
SAN FRANCISCO (Reuters) – In 2009, Eugene Kaspersky, co-founder of one of the world’s top security companies, told some of his lieutenants that they should attack rival antivirus software maker AVG Technologies N.V. by “rubbing them out in the outhouse…
