Legendary investor Warren Buffett made a phone call to Bank of America CEO Brian T. Moynihan on Aug. 24 and offered to invest a staggering $5 billion in the bank. The Bank of America shares had been in doldrums amid questions over its liquidity situation and rumors that it would need a massive capital injection.
Warren Buffett showed again this week that his name and money is enough to give a struggling company instant credibility in the market. But the legendary investor also demonstrated his canny command of that reputation means that such deals can immediately generate profits.
When Bank of America Corp agreed to sell $5 billion of preferred shares to Warren Buffett, it gave the Oracle of Omaha a $3 billion gift with the deal.
Gold fell for a third consecutive session on Thursday, as funds liquidated positions due to CME Group's second margin hike this month, technical weakness and jitters on the eve of Federal Reserve Chairman Ben Bernanke's speech to central bankers.
August was shaping up as one of the worst months ever for some top hedge fund managers like John Paulson, but Warren Buffett may have changed that.
Stocks fell about 1 percent on Thursday, tracking weakness in German and European shares and overshadowing Berkshire Hathaway's investment in Bank of America that lifted the beaten down financial sector.
Bank of America's shares skyrocketed 25 percent on Thursday after announcing Warren Buffett's $5 billion investment in the company.
Billionaire Warren Buffett's Berkshire Hathaway gained EU approval on Thursday for its $9 billion purchase of Lubrizol Corp .
Billionaire Warren Buffett's Berkshire Hathaway gained EU approval on Thursday for its $9 billion purchase of Lubrizol Corp .
Billionaire Warren Buffet's Berkshire Hathaway gained EU approval on Thursday for its $9 billion purchase of Lubrizol Corp .
Warren Buffett has a Chinese car problem, and he may be tempted to fix it himself -- at a cost of billions of dollars.
BYD Co's profit warning and failure to deliver its promised electric car plan sent shares plunging to a more than two-year low, as the Chinese auto and battery maker backed by Warren Buffett struggles with steady sales declines and waning popularity of its top model.
President Barack Obama has taken heat for taking a vacation when the U.S. economy is struggling, but aides are striving to make clear he is not neglecting the country's finances during his break.
Starbucks CEO Howard Schultz said he has been "stunned" by the response to his call for a boycott on political donations in response to Washington's poor handling of the debt-ceiling issue.
Warren Buffett and Howard Schultz want to change the conversation about how to fix the United States' economic woes. But their solutions - more taxes on the rich and a boycott on political donations - risk falling on deaf ears among fellow business leaders.
If only America had listened to Forbes and sent him to the Oval Office. Instead, America is now buckling under the weight of a socialist, Big Government president who is taxing us into oblivion.
Small-town Americans probably don't make as much money as Warren Buffett, but they pay more of their income in taxes, President Barack Obama said on Monday, citing the billionaire investor to argue that the government needs more revenues to balance the budget.
Starbucks Corp Chief Executive Howard Schultz is winning support for his call to withhold political contributions from U.S. lawmakers until they strike a fair, bipartisan deal on the country's debt, revenue and spending.
The Warren Buffett New York Times op-ed has caused quite a stir. Buffett argued that the U.S. needs to cut the budget deficit by ?far more than? the currently $1.5 trillion 10-year cut put in place by the U.S. debt ceiling deal.
Warren Buffett has touched a national nerve.
Warren Buffett is urging Congress to stop coddling America's rich people with tax loopholes.
Warren Buffett, in a New York Times op-ed, suggested that the U.S. government raise taxes on the investor class.
