Archive for February, 2015

Warren Buffett says Berkshire has 'right person' as heir

February 28th, 2015

Warren Buffett says Berkshire has 'right person' as heir

Buffett, Chairman of the Board and CEO of Berkshire Hathaway, poses for a portrait in New YorkWarren Buffett told investors on Saturday that Berkshire Hathaway Inc had found his successor, giving more details than ever about the heir to the company he has run for 50 years. "Both the board and I believe we now have the right person to succeed me as CEO – a successor ready to assume the job the day after I die or step down," the billionaire, 84, said in his annual letter to Berkshire shareholders. "In certain important respects, this person will do a better job than I am doing," Buffett added, as Berkshire Hathaway reported a 17 percent drop in fourth-quarter net income, coupled with an improvement in its operating results. In previous annual letters, Buffett has said that Berkshire's board had been fully aware of his chosen successor but he kept his options open for other possible candidates.

Source
Business News Headlines – Yahoo! News

Herbalife cuts pay of CEO Johnson 36 percent after missed targets

February 28th, 2015

Herbalife cuts pay of CEO Johnson 36 percent after missed targets

The Herbalife logo is seen on a building housing some of their offices in downtown Los Angeles, CaliforniaHerbalife Ltd cut the pay of Chief Executive Michael Johnson 36 percent for 2014 after the nutrition and weight loss company failed to meet performance goals set for him and other top executives, according to a securities filing on Friday. Herbalife said Johnson, who is also chairman, received total compensation of $6.73 million last year, down from $10.5 million in 2013, mainly because he did not receive the incentive plan compensation of $3.7 million he got the prior year. Herbalife has been closely watched since activist investor William Ackman accused the company of running a pyramid scheme in 2012, while rival investor Carl Icahn became the company's biggest owner in 2013. Herbalife, being investigated by state and federal regulators, has denied Ackman's charges.

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Business News Headlines – Yahoo! News

Advice from Warren Buffett that could make you rich

February 28th, 2015

Advice from Warren Buffett that could make you rich
The Berkshire Hathaway annual letter is out, and Warren Buffett again finds new ways to preach what he’s been saying for 50 years.
Source
Latest financial news – CNNMoney.com

Warren Buffett knows who next Berkshire CEO is

February 28th, 2015

Warren Buffett knows who next Berkshire CEO is
Read full story for latest details.
Source
Latest financial news – CNNMoney.com

Warren Buffett says Berkshire has 'right person' as heir

February 28th, 2015

Warren Buffett says Berkshire has 'right person' as heir
NEW YORK (Reuters) – Warren Buffett told investors on Saturday that Berkshire Hathaway Inc , which he has run for 50 years, has found his successor, giving more details than he ever has about the…


Source
Reuters: Money

Berkshire Hathaway net falls, operating profit rises

February 28th, 2015

Berkshire Hathaway net falls, operating profit rises
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc on Saturday said fourth-quarter profit declined 17 percent as investment gains declined, but operating results improved.


Source
Reuters: Money

Pope Francis attacks 'throw-away' economic globalization

February 28th, 2015

Pope Francis attacks 'throw-away' economic globalization

Pope Francis delivers his speech during a special audience with members of the confederation of Italian cooperatives in Paul VI hall at the VaticanBy James Mackenzie ROME (Reuters) – Pope Francis launched a fresh attack on economic injustice on Saturday, condemning the "throw-away culture" of globalization and calling for new ways of thinking about poverty, welfare, employment and society.

Source
Economy News Headlines – Yahoo! News

Ukraine's military reports significant fall in fighting

February 28th, 2015

Ukraine's military reports significant fall in fighting

An armed man with the separatist self-proclaimed Donetsk People's Republic army salutes from the top of a mobile artillery cannon as his convoy starts pulling back from DonetskUkraine's military said on Saturday there had been a significant decrease in attacks by pro-Russian separatists in the east overnight, but said rebels had fired GRAD missiles at the town of Avdiivka despite a two-week-old ceasefire deal. On Friday, Ukraine reported the first deaths among its servicemen in three days, underscoring the fragility of the truce meant to have taken effect on Feb. 15, as government troops and rebels pulled back heavy weapons from the frontline. The Ukrainian military reported isolated attacks by rebels on government positions, including strikes from GRAD missiles around government-held Avdiivka, north of rebel-held Donetsk and home to one of Europe's largest coke plants. Fighting in Ukraine's industrialized east has devastated the steel sector, which before the conflict erupted last April accounted for 15 percent of the economy.

Source
Economy News Headlines – Yahoo! News

Bankia's 2014 profit hit by IPO compensation provisions

February 28th, 2015

Bankia's 2014 profit hit by IPO compensation provisions

The headquarters of Spanish nationalised saving bank Bankia is seen in MadridSpanish lender Bankia reported annual profit hurt by provisions put aside to cover potential compensation claims linked to its 2011 stock market listing which was followed one year later by a state bail-out. Its 2014 net profit came in at 747 million euros after the bank, as expected, set aside provisions of 312 million euros (226 million pounds) for any payout linked to the initial public offering. Bankia reported a 14 percent rise in net interest income – broadly what a bank earns on assets minus what it pays out on deposits – to 2.9 billion euros, in line with analysts' expectations. Paying a dividend is a significant step because it means giving money back to the state as a shareholder, Bankia Chairman Jose Ignacio Goirigolzarri said on Friday.

Source
Stock Markets News Headlines – Yahoo! News

China's central bank cuts rates again to boost economy

February 28th, 2015

China's central bank cuts rates again to boost economy
BEIJING (AP) — China on Saturday cut interest rates for the second time in three months, adding to signs that Chinese leaders are worried that the economic slowdown is deepening too sharply.
Source
Economy News Headlines – Yahoo! News