Berkshire profit up 10 percent as railroad rebounds
OMAHA, Neb. (Reuters) – Warren Buffett’s Berkshire Hathaway Inc on Friday said first-quarter profit rose 10 percent, and operating results easily beat forecasts, boosted by its railroad and insurance businesses and gains from derivatives.
Wall St. ends up sharply as investors buy beaten-down shares
(Reuters) – U.S. stocks bounced back sharply on Friday as investors snapped up beaten-down shares in the healthcare and technology sectors, and as data gave further signs of a pickup in the economy.
Chevron profit drops but beats expectations on refining margins
(Reuters) – Oil and natural gas producer Chevron Corp reported a 43 percent drop in quarterly profit on Friday, though results beat analysts’ expectations as cost cuts and robust refining margins helped offset the impact of tumbling crude prices.
Fed rate hike in June ‘on the table,’ two policymakers say
ORANGE, Calif./PHILADELPHIA (Reuters) – The Federal Reserve could well raise interest rates as soon as June, two top U.S. central bankers said on Friday, so long as economic data strengthens as expected from a dismal first quarter.
Tying Fed to policy rule could lead to worse outcomes: Williams
ORANGE, Calif. (Reuters) – Requiring the Federal Reserve to operate according to a monetary policy rule could generate worse economic outcomes than using a goal-based mandate like an inflation target, a top Federal Reserve official said on Friday.
BNP Paribas sentenced in $8.9 billion accord over sanctions violations
NEW YORK (Reuters) – BNP Paribas SA was sentenced to five years probation by a U.S. judge on Friday in connection with a record $8.9 billion settlement resolving claims that it violated sanctions against Sudan, Cuba and Iran.
U.S. auto sales disappoint in April as Asian automakers miss mark
DETROIT (Reuters) – U.S. auto industry sales in April came in below expectations as Asia’s major carmakers’ results disappointed, offsetting strong gains for trucks and SUVs made by General Motors and Ford .
Anemic U.S. factory data points to moderate growth bounce
WASHINGTON (Reuters) – U.S. factory activity failed to gain steam in April after slowing for five straight months and demand for automobiles softened, suggesting the economy was struggling to find momentum after growth almost stalled in the first quart…
Tesla moves into batteries that store energy for homes, businesses
LOS ANGELES (Reuters) – Tesla Motors Inc on Thursday unveiled Tesla Energy – storage systems or batteries for homes, companies and utilities that will expand its business beyond electric vehicles and tap into a fast-growing area of the energy industry….
McDonald’s shares poised for big move; bullish bets rise
NEW YORK (Reuters) – Options traders appear poised for a big move in McDonald’s Corp’s shares as the world’s biggest restaurant chain is set to unveil a much-awaited turnaround plan on Monday, and bullish bets have picked up in recent days.
