(Reuters) – Warren Buffett’s Berkshire Hathaway on Friday disclosed a new investment in alcoholic beverages producer Constellation Brands, and said it has reduced its holdings in Citigroup and Bank of America. In a regulatory filing, Berkshire said it ended 2024 with 5.62 million Constellation shares worth $1.24 billion. It lowered its Citigroup stake 74% to…
WASHINGTON (Reuters) – Boeing CEO Kelly Ortberg will testify on April 2 before the U.S. Senate Commerce Committee, the panel’s chair, Republican Senator Ted Cruz, said on Friday. The hearing will examine the steps taken at Boeing to address its production and safety issues following an Alaska Airlines Flight 1282 incident last year and a…
PALM DESERT, California (Reuters) – Dallas Federal Reserve Bank President Lorie Logan on Friday reiterated her view that even if inflation nears the Fed’s 2% goal in coming months, the U.S. central bank should not necessarily reduce short-term borrowing costs in response. “I think there’s a real question about how restrictive monetary policy is…
NEW YORK (Reuters) – A U.S. judge on Friday extended a temporary block on Elon Musk’s government cost-cutting team, known as DOGE, from accessing Treasury Department systems responsible for trillions of dollars in payments. U.S. District Judge Jeannette Vargas in Manhattan said at a hearing that she would not yet rule on a request from 19…
By Gabriella Borter WASHINGTON (Reuters) – Democratic U.S. Senator Tina Smith said she will not seek re-election in 2026, which leaves an open seat in moderately competitive Minnesota and complicates her party’s hopes of winning back control of the chamber in the midterm elections. Smith, 66, was first elected in a special election in 2018….
By Mike Stone, Fanny Potkin and Wen-Yee Lee WASHINGTON/SINGAPORE/TAIPEI (Reuters) -The White House is seeking to renegotiate U.S. CHIPS and Science Act awards and has signaled delays to some upcoming semiconductor disbursements, two sources familiar with the matter told Reuters. The people, along with a third source, said the new administration is reviewing the projects…
By Niket Nishant and Manya Saini (Reuters) -Robinhood has cemented its foothold in the crypto trading market as its commission-free model attracts price-conscious customers, analysts said, strengthening its position as a rival to digital asset-focused exchanges such as Coinbase. Robinhood reported an eight-fold jump in transaction-based revenue from crypto trading for the fourth quarter. The…
By Matt Tracy and Saeed Azhar WASHINGTON/NEW YORK (Reuters) – Blackstone plans to take out a loan of about $800 million to finance the purchase of a stake in a 50-story office building in New York City, according to two sources familiar with the matter. The deal is likely to be closed, and any new…
By Phuong Nguyen HANOI (Reuters) – Vietnamese electric vehicle maker VinFast said on Thursday it delivered about 97,000 cars last year, nearly three times as many as in 2023, but sales were almost exclusively in its domestic market. The company said it planned to at least double global sales this year, buoyed by a large…
(Reuters) -Reddit missed market estimates for daily active unique visitors in the fourth quarter on Wednesday, sending its shares down about 15% in extended trading. Reddit stock, which debuted in March 2024, gained nearly five-fold last year. The company forecast first-quarter revenue above Wall Street estimates on Wednesday, betting on its artificial intelligence content licensing…
