Buffett’s Berkshire adds Synchrony, sheds GE

Jonathan Stempel 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. The changes were among those disclosed in Berkshire’s quarterly report of its U.S.-listed stock Read more about Buffett’s Berkshire adds Synchrony, sheds GE[…]

Billionaire hedge-fund manager Tepper adds contrarian energy stocks

David Randall NEW YORK (Reuters) – Hedge-fund manager David Tepper, known for taking positions in out-of-favor companies in his Appaloosa Management hedge fund, added stakes in embattled Wells Fargo Co and several energy companies in the second quarter as the price of oil fell, according to quarterly filings released Monday. Among the six new energy Read more about Billionaire hedge-fund manager Tepper adds contrarian energy stocks[…]

AIG shops $2 billion death benefits portfolio: sources

Olivia Oran and Lawrence Delevingne (Reuters) – American International Group Inc wants to sell a $2 billion portfolio of life settlements that would pay out when sick or elderly customers die, two people familiar with the matter said. AIG, the largest commercial insurer in the United States and Canada, is working with investment bankers at Goldman Sachs Read more about AIG shops $2 billion death benefits portfolio: sources[…]

Bitcoin tops $3,400 as investor confidence boosts it to record high

Evelyn Cheng | @chengevelyn Bitcoin tops $3,400 as investor confidence boosts it to record high  12 Hours Ago | 00:44 Bitcoin tops $3,400 as investor confidence boosts it to record high  12 Hours Ago | 00:44 Bitcoin climbed above $3,400 to trade at all-time highs on Monday as investors gained confidence in the future of the digital currency. Its Read more about Bitcoin tops $3,400 as investor confidence boosts it to record high[…]

Oil prices fall further as Libyan field resumes production

Aaron Sheldrick TOKYO (Reuters) – Oil prices slipped further in Asian trading on Tuesday following a recovery in output at Libya’s largest oil field and as doubts about OPEC-led production cuts continue to weigh on the market. Global benchmark Brent crude futures were down 23 cents, or 0.4 percent, at $52.14 a barrel at 0244 Read more about Oil prices fall further as Libyan field resumes production[…]

Netflix buys comics publisher Millarworld to feed films and TV

Lisa Richwine and Narottam Medhora (Reuters) – Netflix Inc on Monday said it has bought comics publisher Millarworld, bringing on board renowned comic book writer Mark Millar and a host of character franchises it can mine for TV shows and movies. It is the first acquisition by Netflix, the 20-year-old streaming-video pioneer that is building a library Read more about Netflix buys comics publisher Millarworld to feed films and TV[…]

Google fires employee behind anti-diversity memo

David Ingram and Ishita Palli (Reuters) – Internet giant Google has fired the male engineer at the center of an uproar in Silicon Valley over the past week after he authored an internal memo asserting there are biological causes behind gender inequality in the tech industry. James Damore, the engineer who wrote the memo, confirmed his dismissal, Read more about Google fires employee behind anti-diversity memo[…]

Goldman Sachs declares 3.9 percent stake in Spain’s DIA: filing

MADRID (Reuters) – Goldman Sachs owns 3.9 percent of Spanish supermarket chain DIA (DIDA.MC), according to a filing with Spain’s market regulator made days after Russian billionaire Mikhail Fridman’s investment vehicle bought a stake in the firm. Investors have to declare their company holdings to regulators in Spain when they exceed 3 percent. According to Read more about Goldman Sachs declares 3.9 percent stake in Spain’s DIA: filing[…]

Deutsche Bank tumbles down private bank rankings

Joshua Franklin ZURICH (Reuters) – Deutsche Bank dropped out of the world’s top 15 private banks in 2016, a year marked by negative headlines for Germany’s biggest lender, rankings by wealth management researcher Scorpio Partnership showed on Monday. Private banking assets at Deutsche Bank fell 28 percent in dollar terms to $227 billion at the Read more about Deutsche Bank tumbles down private bank rankings[…]

Wall Street ends higher as Dow edges to latest record

Sinead Carew  NEW YORK (Reuters) – The Dow edged up to its ninth record closing high in a row while the S&P ended slightly higher on Monday, with consumer and technology sector gains offsetting losses in energy. Yet trading volume was relatively light as investors had little reason to make big bets with the U.S. Read more about Wall Street ends higher as Dow edges to latest record[…]