Berkshire CEO-designate Abel sells stake in energy company he led for $870 million

Gregory Abel, the CEO of Berkshire Hathaway Energy and who is designated to succeed Warren Buffett as Berkshire CEO, walks through the crowd at the first in-person annual meeting since 2019 of Berkshire Hathaway Inc in Omaha, Nebraska, US April 29, 2022. REUTERS/Scott Morgan Register now for FREE unlimited access to Reuters.com Register Aug 6 … Read more

Hedge funds post July gain on stock market rally, still down for the year

Hedge Fund Research (HFR) President Kenneth J. Heinz participates in a panel discussion during the Skybridge Alternatives (SALT) Conference in Las Vegas, Nevada May, 9, 2012. SALT brings together public policy officials, capital allocators, and hedge fund managers to discuss financial markets. REUTERS/Steve Marcus (UNITED STATES – Tags: BUSINESS) Register now for FREE unlimited access … Read more

Analysis: Why the banks financing Musk’s Twitter deal are unlikely to be able to help him walk away

An image of Elon Musk is seen on smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register Aug 5 (Reuters) – The banks that agreed to finance Elon Musk’s $44 billion acquisition of Twitter Inc (TWTR.N) have a … Read more

Jittery markets see bond funds enjoy largest weekly inflows since Nov 2021

Photo for illustration. A man is silhouetted in an electronic board showing the FTSE MIB Index for the Italian equity market in this photo illustration taken in Rome August 9, 2011. REUTERS/Tony Gentile./File Photo Register now for FREE unlimited access to Reuters.com Register LONDON, Aug 5 (Reuters) – Bond funds recorded their largest weekly inflow … Read more

Hong Kong June retail sales decline at a slower pace

June tourist arrivals soar 563.1% y/y after May’s 252.7% growth June jewellery, watch sales up 2.3% y/y vs May’s 7.7% rise Govt expects spending vouchers to support consumption demand HONG KONG, Aug 2 (Reuters) – Hong Kong’s retail sales in June fell at a slower pace than the previous month, official data released on Tuesday … Read more

Big Tech in finance? There’s a regulator for that

The logo for Amazon Web Services (AWS) is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Aug 1 (Reuters Breakingviews) – Technology companies have stormed the heights of consumer finance, but they don’t face the regulation … Read more

Analysis: Investors gauge US stocks rebound: ‘suckers’ rally’ or market bottom?

NEW YORK, July 27 (Reuters) – As investors await another jumbo-sized rate increase from the Federal Reserve, they are taking the temperature of a weeks-long US stock market rally that followed a vicious first-half selloff. Even after Tuesday’s sharp fall, the S&P 500 remained up 7% from its June 16 low, buoyed in part by … Read more

Hermes snubs luxury resale market

The logo of Hermes is seen on a store in Paris, France, April 24, 2020. REUTERS/Charles Platiau/File Photo Register now for FREE unlimited access to Reuters.com Register PARIS, July 29 (Reuters) – Birkin bag maker Hermes (HRMS.PA) is not interested in getting involved in the fast-growing second-hand luxury market which has attracted some of its … Read more

Analysis: Wall Street weighs job cuts as deals slide in battered markets

NEW YORK, July 29 (Reuters) – Wall Street bosses are in a bind about whether to cut investment bankers or keep them on staff in hopes of a recovery from a brutal first half. With risks of a recession looming and the Federal Reserve raising rates aggressively to stem inflation, prospects for arranging and financing … Read more

L’Oreal bucks trend with Chinese sales growth in Q2

Staff members work at a counter of cosmetics brand L’Oreal at a shopping mall in Beijing, China November 18, 2021. REUTERS/Tingshu Wang Register now for FREE unlimited access to Reuters.com Register PARIS, July 28 (Reuters) – Cosmetics group L’Oreal (OREP.PA) bucked a declining trend for the luxury and fashion industry in China with sales growing … Read more