Business News
Warren Buffett says Berkshire needs to do 'huge acquisitions'2/24/2018 5:37:39 PMNEW YORK - Warren Buffett on Saturday said he needs to make "one or more huge acquisitions" to increase Berkshire Hathaway Inc earnings, but admitted that finding a deal at "a sensible purchase price" has become a challenge.General Mills moves into pet food with $8 billion Blue Buffalo deal2/24/2018 12:46:46 AM - Cheerios cereal maker General Mills Inc will buy Blue Buffalo Pet Products Inc for nearly $8 billion, foraying into a fast-growing pet food market to counter declining sales of processed foods.With rates low, Fed officials fret over next U.S. recession2/24/2018 6:03:43 AMNEW YORK/LOS ANGELES - Federal Reserve policymakers are fretting that they could face the next U.S. recession with an arsenal of policies little different from that used in the last downturn but robbed of much of their punch because interest rates are still low.Geely chairman builds $9 billion stake in Germany's Daimler2/24/2018 4:41:55 PMBEIJING/FRANKFURT - The chairman of Chinese carmaker Geely [GEELY.UL] has built up an almost 10 percent stake in Mercedes-Benz owner Daimler , making a $9 billion bet that he can push through an alliance to access the German company's technology.Dropbox files for IPO of up to $500 million2/24/2018 5:19:47 AM - Data-sharing business Dropbox Inc on Friday filed for an initial public offering of up to $500 million with the U.S. Securities and Exchange Commission.China cuts banking red tape to rally foreign investment - Xinhua2/24/2018 5:22:21 PMBEIJING - China's banking regulator has introduced steps to cut the red tape for foreign banks, state media agency Xinhua said on Saturday, as part of the government's ongoing effort to promote investment in the country's fast-growing financial sector.Exclusive: Nordstrom family group finalizing take-private offer - sources2/24/2018 7:05:51 AM - Nordstrom Inc's founding family group is finalizing plans to submit an offer to take the U.S. department store operator private, people familiar with the matter said on Friday.India's Choksi claims innocence in PNB fraud with open letter2/24/2018 4:25:10 PMMUMBAI - Mehul Choksi, one of two businessmen allegedly involved in perpetrating India's biggest ever banking fraud, broke his silence at the weekend with an open letter to employees claiming his innocence and telling them to look for other jobs.GE says it may face U.S. action over subprime mortgage operations2/24/2018 4:07:29 AMNEW YORK - General Electric Co faces potential legal action by the U.S. Department of Justice over allegations that its GE Capital unit and now-defunct WMC Mortgage Corp unit violated U.S. law in connection with subprime mortgages, according to a regulatory filing on Friday.Volkswagen settles U.S. diesel owner lawsuit on eve of trial2/24/2018 1:25:44 AMWASHINGTON - Volkswagen AG's U.S. unit on Friday resolved a lawsuit brought by a North Carolina man whose diesel emissions case was set to be the first go to trial on Monday.