Buffett appears to fault Trump, laments deals dearth in Berkshire letter

Buffett appears to fault Trump, laments deals dearth in Berkshire letter
(Reuters) – Warren Buffett on Saturday appeared to fault U.S. President Donald Trump for taking too much credit for the nation’s economic growth, while acknowledging that market conditions are making it tough for his Berkshire Hathaway Inc to find more big companies to buy. FILE PHOTO: Warren Buffett, CEO of Berkshire Hathaway Inc, tours the exhibit hall at the company’s... Read More

Buffett appears to fault Trump, laments M&A dearth in Berkshire shareholder letter

Buffett appears to fault Trump, laments M&A dearth in Berkshire shareholder letter
(Reuters) – Warren Buffett on Saturday appeared to fault U.S. President Donald Trump for taking too much credit for the nation’s economic growth, while acknowledging that market conditions are making it tough for his Berkshire Hathaway Inc to find more big companies to buy. FILE PHOTO: Warren Buffett, CEO of Berkshire Hathaway Inc, tours the exhibit hall at the company’s... Read More

S&P 500 posts highest close since November 8 on trade optimism

S&P 500 posts highest close since November 8 on trade optimism
NEW YORK (Reuters) – The S&P 500 posted its highest closing level since Nov. 8 on Friday as investors clung to signs of progress in the ongoing trade talks between the United States and China. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 22, 2019. REUTERS/Brendan McDermid Investors assessed a slew... Read More

Wall St. trims gains as U.S., China struggle over gaps in trade issues

Wall St. trims gains as U.S., China struggle over gaps in trade issues
NEW YORK (Reuters) – U.S. stocks were higher in afternoon trading on Friday but pared gains after U.S. officials said the United States and China still have issues to resolve in their ongoing trade talks. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 19, 2019. REUTERS/Brendan McDermid People briefed on the... Read More

Kraft Heinz’ problems shine light on controversial budget tool

Kraft Heinz’ problems shine light on controversial budget tool
LONDON/BOCA RATON, Fla. (Reuters) – Mounting troubles at Kraft Heinz, revealed late on Thursday with a triple-punch of bad news, call into question its reliance on cost-cutting as a way to generate profit growth. FILE PHOTO: Heinz tomato Ketchup is show on display during a preview of a new Walmart Super Center prior to its opening in Compton, California, U.S.,... Read More

Kraft Heinz shares fall 28 percent after writedown, dividend cut

Kraft Heinz shares fall 28 percent after writedown, dividend cut
(Reuters) – Kraft Heinz Co shares fell to a record low on Friday a day after the food company disclosed a $15 billion write-down on its marquee brands, raising concern that years of rigorous cost cutting have eroded the value of its Kraft cheeses and Oscar Mayer deli meats. Kraft’s revenue growth has stagnated in the years since it merged... Read More

Kraft Heinz forecasts gloomy 2019, writes down value of iconic brands

Kraft Heinz forecasts gloomy 2019, writes down value of iconic brands
(Reuters) – Shares of Kraft Heinz Co slumped 20 percent on Thursday after the food company posted a quarterly loss, disclosed an SEC investigation and wrote down the value of its Kraft and Oscar Mayer brands as it highlighted the tough environment for the packaged food industry. FILE PHOTO – Bottles of Heinz tomato ketchup of U.S. food company Kraft... Read More

Kraft Heinz sees ‘step backwards’ in 2019, gets SEC subpoena

Kraft Heinz sees ‘step backwards’ in 2019, gets SEC subpoena
(Reuters) – Kraft Heinz Co reported disappointing quarterly results, including a $15 billion charge related to the value of its marquee Kraft and Oscar Mayer trade marks, and said it had received a subpoena from the U.S. Securities and Exchange Commission about its accounting practices. FILE PHOTO – Bottles of Heinz tomato ketchup of U.S. food company Kraft Heinz are... Read More

Third Point claims 300 percent return on activism since 2011

Third Point claims 300 percent return on activism since 2011
BOSTON (Reuters) – Pushing companies to perform better has earned Third Point a 300 percent return in the last eight years, the hedge fund told investors in a letter on Thursday, praising management at some of its targets for taking the right steps. FILE PHOTO: Daniel S. Loeb, founder of Third Point LLC, participates in a panel discussion during the... Read More