Thirteen East and Southeast Asian countries agreed on Sunday to set up a $120 billion emergency fund for use in an economic downturn, the first independent move by Asia to shield itself from financial crisis.
Warren Buffett criticized the government's stress tests of 19 large U.S. banks for failing to account for strengths in lenders' business models, and said he would buy more shares of three big banks in the portfolio of his Berkshire Hathaway Inc .
Warren Buffett criticized the government's stress tests of 19 large U.S. banks, and said he would buy more shares of three big banks in the portfolio of his Berkshire Hathaway Inc.
The U.S. government will release the findings on bank stress tests this week, and data expected to show another month of crushing job losses will also test emerging optimism on global economic prospects.
Former clients of Mark A. Walsh, the onetime head of global real estate at now bankrupt Wall St investment bank Lehman Brothers, praised the banker in an article from the New York Times today.
Being a big insurer will cost Berkshire Hathaway Inc dearly when severe catastrophes strike, but it is a good place to be in the midst of an economic downturn, Chairman Warren Buffett said.
The influenza AH1N1 the virus that has claimed the lives of 19 people in Mexico is on the decrease according to the Federal Health Minister, Jose Angel Cordova Villalobos the El Universal reported.
The Boston Globe may learn its fate Sunday as management and a key union try to hash out concessions that parent company New York Times Co says are crucial to keeping newspaper alive.
Chinese authorities have quarantined more than 70 apparently healthy Mexicans who they believe may have swine flu, Mexico's ambassador to Beijing said Sunday.
Thirteen East and Southeast Asian countries agreed on Sunday to set up a $120 billion emergency fund for use in an economic downturn, the first independent move by Asia to shield itself from financial crisis.
Thirteen East and Southeast Asian countries agreed Sunday to set up an emergency $120 billion fund to provide liquidity to any of them in need of help during the economic downturn.
Japan, China and South Korea finalized details of an emergency $120 billion liquidity fund for 13 Asian nations on Sunday, a key regional initiative to counter the global economic downturn.
U.S. president Barack Obama said on Saturday he will take whatever necessary measures to prevent the flu outbreak and protect the safety and security of the American people.
The financial sector will make up a smaller part of the U.S. economy in the future as new regulations clamp down on massive risk-taking, President Barack Obama said in an interview published on Saturday.
Warren Buffett is fond of newspapers -- he reads five a day -- but the billionaire investor warned shareholders of his Berkshire Hathaway Inc that the reeling industry may never recover because it lacks a sustainable business model.
Warren Buffett told a record crowd at a somber annual meeting of his Berkshire Hathaway Inc that first-quarter operating profit fell and the company's book value declined 6 percent, as the recession hurt many of the company's businesses and investments.
Warren Buffett told a record crowd at a somber annual meeting of his Berkshire Hathaway Inc that first-quarter operating profit fell and the company's book value declined 6 percent, as the recession weighed on many of the company's businesses and investments.
Delta Air Lines Inc., Continental Airlines Inc., United Airlines and US Airways Group Inc. have each cut flights to Mexico following a reduction in demand due to the swine flu outbreak.
Mexico's flu outbreak appeared to be stabilizing on Saturday but officials warned it was too early to ease vigilance against an unpredictable virus which still threatens a global pandemic.
Warren Buffett acknowledged on Saturday that his Berkshire Hathaway Inc will probably lose money on some of the derivatives contracts that have prompted some to speculate that the world's most famous investor has lost his touch.
Warren Buffett on Saturday expressed strong support for Wells Fargo & Co, one of the largest equity holdings of his Berkshire Hathaway Inc, saying it is a fabulous bank that is well-positioned to ride out the financial crisis.
Barack Obama is reveling in presidential power and influence unseen in Washington for decades.
