Category: Investment Services

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Warren Buffett on Saturday mounted a forceful and upbeat defense of the prospects for American business, as his Berkshire Hathaway Inc reported a higher quarterly profit though operating income fell. In his annual letter to Berkshire shareholders, Buffett said investors “will almost certainly do well” by staying with the long term with a “collection of large, conservatively financed American businesses.”

Warren Buffett credits ‘miraculous’ America in part to ‘tide…

The Berkshire Hathaway CEO has long been a believer in the economic power of the American people and its institutions and that opinion does not appear to have changed in his 2016 Annual Letter to Shareholders. “From a standing start 240 years ago a span of time less than triple my days on earth Americans have combined human ingenuity, a market system, a tide of talented and ambitious immigrants, and the rule of law to deliver abundance beyond any dreams of our forefathers.”

Aflac Starts Infrastructure Debt Investing in U.S., Japan

Aflac Inc., the largest seller of supplemental health insurance, has started betting on infrastructure debt at its U.S. and Japan businesses. The insurer, which pushed into that asset class in the fourth quarter, invested $13 million in the debt last year at its Japan operation and $2 million at its U.S. business, according to a regulatory filing Friday.

SoftBank, Foxconn Set Up $1.2 Billion Joint Venture Amid U.S. Investment Drive

SoftBank and Foxconn said Friday that the two companies have formed a joint venture that could be worth $1.2 billion as the tech group plans a series of U.S. expansions. SoftBank of Japan and Apple supplier Foxconn said Friday that the two companies have formed a joint venture that could be worth $1.2 billion as the tech group plans a series of U.S. expansions that could create tens of thousands of jobs.

Samsung rivals to set the tone at Mobile World Congress

Samsung rivals to set the tone at Mobile World Congress Samsung’s decision to hold off launching the next Galaxy phone clears the way for others. Check out this story on USATODAY.com: http://usat.ly/2mdQa1e A woman reacts as she uses a new Samsung Gear 360, a 360-degree camera, at the Mobile World Congress.

Citigroup Sets Up D.C. Team as Trump’s Regulatory Overhaul Looms

Citigroup Inc. is establishing a global regulatory affairs team in Washington as Wall Street firms prepare for the possibility of widespread changes to financial rules under the Trump administration. The new group, which will work alongside the bank’s lobbyists and focus on policy at U.S. and overseas regulators, is being run by Kevin Bailey, a former longtime official at the Office of the Comptroller of the Currency.

Citigroup Sets Up D.C. Team as Trump’s Regulatory Overhaul Looms

Citigroup Inc. is establishing a global regulatory affairs team in Washington as Wall Street firms prepare for the possibility of widespread changes to financial rules under the Trump administration. The new group, which will work alongside the bank’s lobbyists and focus on policy at U.S. and overseas regulators, is being run by Kevin Bailey, a former longtime official at the Office of the Comptroller of the Currency.

For Asset Managers Battling Index Funds, It’s Hunt or Be Hunted

Janus Capital Group Inc. and U.K.-based Henderson Group Plc are merging to reduce costs, broaden their product mix and expand geographically. Last week, Japan’s SoftBank Group Corp. struck a $3.3 billion agreement to buy alternative-asset manager Fortress Investment Group LLC, whose shares had lost two-thirds of their value since the company went public in 2007.

For Asset Managers Battling Index Funds, It’s Hunt or Be Hunted

Janus Capital Group Inc. and U.K.-based Henderson Group Plc are merging to reduce costs, broaden their product mix and expand geographically. Last week, Japan’s SoftBank Group Corp. struck a $3.3 billion agreement to buy alternative-asset manager Fortress Investment Group LLC, whose shares had lost two-thirds of their value since the company went public in 2007.

T-Mobile stock climbs on report SoftBank open to Sprint combination

The stock of Bellevue-based T-Mobile US rose 5.5 percent Friday following a report that SoftBank would be willing to give up control of Sprint if it would help cement a potential merger of the two mobile-phone carriers. The stock of Bellevue-based T-Mobile US rose 5.5 percent Friday following a report that SoftBank Group would be willing to give up control of Sprint if it would help cement a potential merger of the two mobile-phone carriers.

T-Mobile Has a Lot of Negotiating Power in Any Merger Talks with Sprint

Since then, T-Mobile has punched a giant hole in that argument by steadily delivering profitable growth and share gains, and forcing its rivals to respond with major discounts. In addition to giving deal opponents a big talking point, the self-proclaimed “Un-Carrier’s” financial success gives it a lot of bargaining power should it choose to pursue a tie-up with a rival that still faces its share of issues.

Apple CFO Maestri Says U.S. Border Tax Would Be Bad for Economy

Apple Inc. Chief Financial Officer Luca Maestri said a U.S. border tax would harm the world’s largest economy by raising costs for consumers and making it harder for companies to compete overseas. A border tax also would increase the value of the U.S. dollar, which is already too strong, and reduce the competitiveness of the country’s economy, the CFO said Tuesday at a technology conference in San Francisco sponsored by Goldman Sachs Group Inc. President Donald Trump and a Republican-controlled Congress want to rewrite U.S. taxes in ways that may help and hurt Apple, the world’s most valuable public company.

Pepsi Blows It Out of the Water, but …

PepsiCo notched some impressive wins during the fourth quarter, but initial profit guidance for 2017 may leave some bulls thirsty for more. The soda and snacks giant reported fourth-quarter adjusted earnings of $1.20 a share on Wednesday, solidly beating analysts’ forecasts of $1.16.

SoftBank to Buy Fortress Investment Group for $3.3 Billion

SoftBank Group Corp. is buying alternative-asset manager Fortress Investment Group LLC for $3.3 billion in cash to operate alongside the Japanese company’s soon-to-be-established technology investment fund. Japan’s SoftBank will pay $8.08 a share for New York-based Fortress, a 39 percent premium to the company’s Feb. 13 closing price, according to a statement Tuesday.

Buffett Bets Big on Apple

Warren Buffett’s Berkshire Hathaway Inc was an aggressive buyer of stocks in last year’s fourth quarter, disclosing significant increases in its stakes in Apple Inc and in the four biggest U.S. airlines. In a regulatory filing, Berkshire said it nearly quadrupled its stake in Apple to about 57.4 million shares, worth roughly $6.64 billion as of Dec. 31, from 15.2 million shares three months earlier.

Apple breaks intraday record high for first time since 2015

Apple Inc’s share price hit an intraday record high on Tuesday for the first time in almost two years as investors raised bets that a 10th anniversary iPhone will boost lackluster sales. The stock touched an intraday all-time high of $135.09, beating its previous intraday high of $134.54 set on April 28, 2015.

Billionaire Co-Founder Calls Off Battle With Infosys’ Board

Billionaire Narayana Murthy is calling off his fight with the board of Infosys Ltd., saying he’s confident the IT giant he co-founded will deal with the concerns raised about corporate governance. The conciliatory comments came after an intense confrontation that pitted the board, Chairman R. Seshasayee and Chief Executive Officer Vishal Sikka against a clutch of high-profile co-founders led by Murthy.

Billionaire Real Estate Mogul Sam Zell Sees Staggering Economic Opportunity Under Trump

Amid extraordinary political developments for the U.S., Chicago-based business mogul Sam Zell tells TheStreet he sees “staggering economic opportunity” for the nation under the presidential authority of Donald Trump. Trump’s vow to cut government regulation that he calls “excessive” could lead to “a $1 trillion of stimulus without spending anything, while Obama added $1 trillion to U.S. debt” to prop up the U.S. economy, Zell said.

SoftBank Doubles 9-Month Profit; Hails Ongoing Sprint Turnaround

SoftBank said its nine-month profit doubled from last year as the Japanese wireless carrier enjoyed boosts from its domestic broadband business and noted a turnaround at U.S. Sprint. SoftBank said its nine-month profit doubled from the same period last year as the Japanese wireless carrier enjoyed boosts from its domestic broadband business and a turnaround at is U.S. Sprint division.

SoftBank quarterly profit soars on investment empire

Japanese telecommunications, internet and solar company SoftBank Group Corp. reported Wednesday that its October-December profit soared to about 40 times what it was a year ago. Tokyo-based SoftBank’s fiscal third quarter profit totaled 91.2 billion yen up dramatically from 2.3 billion yen in 2015.

Goldman Banker Diaspora Offers New Hiring Opportunity, Bok Says

Boutique investment banks are finding more opportunities to hire from giant U.S. rivals, said Scott Bok, the chief executive officer of Greenhill & Co. European banks remain “a relatively fertile ground” for recruiting as their leaders work to cut costs amid declining revenue, Bok said Tuesday at a conference held by Credit Suisse Group AG.

Berkshire’s Airline Bet Said to Stem From Faith in Parker’s Call

Warren Buffett once quipped that a “farsighted capitalist” should have shot down Orville Wright at Kitty Hawk to spare investors all the losses they would suffer on airlines in the decades after the birth of flight. That’s why it was a surprise when, in November, the billionaire’s Berkshire Hathaway Inc. disclosed investments in the four largest U.S. carriers: American Airlines Group Inc., Delta Air Lines Inc., Southwest Airlines Co.

Sprint Proves Critical Customer Growth Ahead of Possible Deal

Sprint Corp. garnered more wireless customers and revenue than expected last quarter, showing progress in its turnaround ahead of an expected consolidation of the industry under President Donald Trump. Sprint completed its second straight year of subscriber growth after signing up 405,000 new users in the all-important holiday shopping season, more than the 389,778 analysts were expecting.

Carlson Managers Warn Trade War Could Trigger Global Depression

President Donald Trump’s policies may have dire consequences for the U.S. and the global economy, say money managers at hedge fund firm Carlson Capital. The president’s attempts to tax imports and subsidize exports could touch off a depression, money managers Richard Maraviglia and Matt Barkoff warned in a quarterly letter to clients in the Black Diamond Thematic fund.

U.S. Airlines Tumble Amid Fear Trump Travel Ban Will Spread

U.S. airlines tumbled the most in three months as concerns mounted that President Donald Trump’s ban on travel from seven predominantly Muslim nations will lead to more restrictions on flights. Investors are fearful that the U.S. curbs will expand or be answered with retaliation by other nations, said Joe DeNardi, an analyst at Stifel Financial Corp. Trump already has signed an order to pull the U.S. out of the Trans-Pacific Partnership trade accord and said he wants to restructure a 23-year-old pact between the U.S., Mexico and Canada.