Berkshire Hathaway Automotive looks to expand in U.S.: chairman

Warren Buffett's Berkshire Hathaway Inc wants to purchase more U.S. auto dealerships to expand the company's automotive dealer venture, Larry Van Tuyl, chairman of Berkshire Hathaway Automotive, told CNBC ...

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Ouch! Here's Wall Street's next headache

Banks, looked to as a bright spot for the upcoming earnings season, might not live up to expectations, according to an analysis from Goldman Sachs.

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1000s of Detroit-area homeowners apply to avoid foreclosure

More than 13,000 Detroit-area property owners have entered into payment plans hoping to avoid losing their homes to tax foreclosure, and that number will likely rise. Hundreds of applicants lined up before ...



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Pao faces tough court if she appeals Kleiner bias lawsuit

Ellen Pao faces an uphill battle should she choose to appeal her defeat last week in a gender discrimination lawsuit against former employer Kleiner, Perkins, Caufield & Byers, the Silicon Valley venture capital firm. Not only did a San Francisco Superior Court judge side with Pao on some key evidentiary disputes in the run-up to trial, but employers have been highly successful litigating in the California appeals court where Pao's case would land. Conversely, the court - which covers San Francisco and 11 other Northern California counties - handed victory to employers in more than half of the cases they lost in the lower courts, reversing 10 of 18 cases. Pao's lawsuit helped spark a wide-ranging debate about the treatment of women in Silicon Valley, which has continued after a jury last Friday decided she had not proved Kleiner broke the law when it passed her over for promotion.

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Exclusive: Cablevision to make $1 offer for New York Daily News

The offer would come one month after New York media and real estate magnate Mortimer Zuckerman said he was considering selling the newspaper and had hired Lazard Ltd (LAZ.N) to assist with the process. Cablevision's $1 bid takes into account the New York Daily News' reported $30 million annual loss and $150 million investment in a printing press, and declining circulation that relies heavily on newsstand sales rather than on subscriptions, the source said. Cablevision declined to comment while a representative for the New York Daily News could not immediately be reached for a comment. Cable distributors such as Cablevision and its larger rivals have also been under pressure to stop consumers from dumping their cable subscriptions, or "cutting the cord", as subscribers shift to internet services such as Netflix and Hulu.

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Wall Street retreats, Euro heads for record quarterly drop

U.S. stocks retreated on Tuesday from the previous session's rally, while the euro was on track for its biggest quarterly fall as worries about Greece kept the currency under pressure.

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Oil drops to $55 as Iran nuclear talks intensify

Brent crude oil dropped towards $55 a barrel on Tuesday as Iran and six world powers entered a final day of talks over a nuclear deal that could see the energy-rich country increase oil exports to world markets. With a self-imposed deadline set for the end of the day, the United States, Britain, France, Germany, Russia and China ramped up the pace of negotiations with Iran in Switzerland over an outline deal on Tehran's nuclear programme. Disagreements on enrichment research and the pace of lifting sanctions remained as hurdles that could scupper a deal to end a 12-year standoff between Iran and the West. Russian Foreign Minister Sergei Lavrov told reporters in Moscow he believed the talks had a good chance of success.

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Cramer: The best places for you to put new money

CNBC's Jim Cramer reveals the top places to invest new money on the stock market. Is your portfolio prepared?

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Indiana Gov. wants fix to controversial law, McDonald's table service and CEOs at the White House

Yahoo Finance's Midday Movers is live each weekday at 12pm ET, covering all the latest news on the markets, the economy and the biggest stories of the day.

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Wall Street sees lower stock market gains due to rate worries

U.S. stocks are forecast to post more modest gains this year than in 2014 as rising interest rates and a firmer dollar partly offset strong economic growth, a Reuters poll found. Strategists are optimistic about U.S. economic prospects for 2015, but they said the market could pull back once the Federal Reserve raises interest rates. The Fed is expected to do so for the first time in almost a decade later this year if the economy, especially the labor market, keeps improving. Strategists lowered their midyear target for the S&P to a median of 2,073 from 2,103 in a December poll and reduced the Dow Jones Industrial Average (.DJI) estimate to 18,000 from 18,500.

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Former Bombardier CEO's pay cut 12 percent after missed targets

Bombardier Inc's (BBDb.TO) former chief executive, Pierre Beaudoin, suffered a small pay cut in 2014 as the company struggled to complete development of its new CSeries jet, filings showed on Tuesday. Beaudoin, who has since stepped down as chief executive and become the Canadian plane and train manufacturer's executive chairman, received direct compensation of $5.1 million, down from $5.8 million in 2013.

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Small investors blame losses on brokers they once trusted

Susan Bernardo trusted her stockbroker. She wound up losing a fortune. Her broker, David Harris, advised her to sell $400,000 worth of relatively safe municipal bonds, she says, and sink the proceeds into ...

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Germanwings disaster will not affect image of budget air travel: easyJet

The disaster at budget airline Germanwings which killed 150 people will not harm the image of low-cost air travel in Europe, easyJet (EZJ.L) chief executive Carolyn McCall said on Tuesday. Germanwings, founded in 2002 as a budget carrier, was acquired by full-service airline Lufthansa (LHAG.DE) in 2009, and the parent company has expanded it into its main short-haul operator to battle competition from low-cost carriers such as easyJet and Ryanair (RYA.I). McCall, in Amsterdam to open a new base for the airline, said the Germanwings crash was a matter for all airlines. "This is not a budget airline issue.

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Reuters Poll: Market uncertainty tempers forecasts for equities' gains this year

Chinese and most European stocks have led the way with a stellar run, buoyed by stimulus from the People's Bank of China and the European Central Bank. Fund managers and strategists also warned that the prospect of an interest rate rise by the U.S. Federal Reserve this year will create turbulence in global stock markets.

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Asia shares extend Wall Street's rally

Asia stocks climbed on Tuesday on the back of a big rally in the U.S. A key benchmark there was set to close out its best quarter in three years.

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Autonomy former-CEO counter sues HP after it lodges $5.1 billion claim

British IT entrepreneur Mike Lynch will file a counter claim against HP (HPQ.N), he said on Tuesday, a day after the U.S. company lodged a claim against him and his former colleague Sushovan Hussain for damages of $5.1 billion over his management of Autonomy, the British IT company it bought in 2011. Autonomy was supposed to be the $11.1 billion centerpiece of a shift into software for HP, but the deal turned sour a year later when it wrote off three quarters of the company's value, accusing Lynch and his colleagues of financial mismanagement. A HP spokeswoman confirmed the company had filed a claim against Lynch and Hussain in London's Chancery Division High Court alleging they engaged in fraudulent activities while executives at Autonomy.

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U.S. consumer confidence surges in March

U.S. consumer confidence unexpectedly rebounded strongly in March, according to a private sector report released on Tuesday. The Conference Board, an industry group, said its index of consumer attitudes ...

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Economist: Sell Your Stocks and Take Six Months Off

Investors should sell any equities bought over the past year, hold the proceeds as cash and take a holiday from the market for six months, according to Steen Jakobsen, Saxo Bank A/S’s chief economist.

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How markets are calling Fed's bluff: Ex-Fed gov

"This is a very dangerous development," with the tail wagging the dog, former Fed Gov. Kevin Warsh tells CNBC.

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Why it may be time to bet on the banks

Here's why Monday's bank bounce could presage further gains.

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US home prices rise modestly, but affordability an obstacle

U.S. home price increases continued to rise at a steady pace in January, as the housing market deals with affordability problems and few properties listed for sale. The Standard & Poor's/Case-Shiller 20-city ...



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Vatican near deal on financial information sharing -source

The Vatican and Italy are close to reaching an agreement to share financial and tax information in the aim of cracking down on money-laundering and other illicit behavior, a senior Vatican official said on Tuesday. The deal, which the official said could be announced as early as this week, is part of Pope Francis' efforts to clean up the finances of the Vatican. The Vatican has long been criticized by international financial organizations for providing a tax haven for well-connected Italians. In particular, the Vatican bank for decades allowed many Italian citizens to hold bank accounts.

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Appalachia miners wiped out by coal glut they can't reverse

Coal prices have dropped 33% over the past four years to levels that have made most mining companies across the Appalachia mountain region unprofitable.

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Live: Wall St. ending volatile quarter; IBM's 'internet of things'; Starbucks' kale smoothie

Join Market Movers live now for the latest premarket headlines.

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Plenty of potential -- and frustration -- in the Periscope video app

Periscope, the new live video streaming app from Twitter, is poised to explode in popularity. If only there weren't the same nagging problems of search and discovery that dog Twitter.

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Prudential's departing CEO Thiam earned $17.5 million in 2014

Prudential paid outgoing chief executive Tidjane Thiam 11.8 million pounds ($17.45 million) in 2014, a 35 percent increase on his 2013 compensation, following a bumper incentive plan payout in his final year in charge. Thiam, who is leaving the dual-listed British insurer to join Credit Suisse in May, was awarded 8.25 million pounds as part of the company's three-year LTIP and earned a 2.12 million pounds bonus for his performance last year, Prudential's annual report showed. Mike Wells, head of Prudential's U.S. business - and the executive most widely tipped to succeed Thiam - was the company's second highest paid board member, earning total compensation of 11.39 million pounds. The company said it would also increase the fee paid to Chairman Paul Manduca by 16.6 percent to 700,000 pounds from July, in recognition of the "increased demands" of his role.

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Americans' confidence in housing on the rise: Zillow

Pending home sales are up, and there's more to look forward to this year.

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Comcast to form new company with CFO Michael Angelakis

Comcast said Angelakis would step down from his position as CFO and serve as the chief executive of the new company. Comcast said the new company would have total capital commitments of up to $4.1 billion, of which $4 billion will be invested by Comcast.

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Strong case for June rates liftoff, says Fed's Lacker

The Federal Reserve will have a "strong" case to hike U.S. interest rates in June, a hawkish Fed official said on Tuesday, dismissing recently weak economic data as transitory and perhaps due to unseasonable weather. Richmond Fed President Jeffrey Lacker, who has long called for a prompt tightening of monetary policy, said consumer spending, the labor market and other economic conditions have improved significantly over the last year. A voting member this year on Fed policy who made many familiar arguments, Lacker predicted more improvement in the labor market and wages in the months ahead, and 2.0 to 2.5 percent GDP growth for the year.

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Futures pull back after strong advance

U.S. stock index futures were lower on Tuesday, indicating a modest retreat from the previous session's rally, including the strongest session for the Dow in more than a month. * Energy shares will continue to be in focus as crude oil (CLc1) fell 2.3 percent to $47.58 per barrel, sending Exxon Mobil Corp (XOM.N) down 0.7 percent to $85 in premarket trading.

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2015 Stock Strategy: Sell in June and Go Away?

For stocks, two big dynamics are in play right now: A stalling of corporate earnings growth and the anticipation of higher interest rates as the Federal Reserve prepares its first policy tightening cycle since 2004.

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Amazon wants to be your home services middleman

The initiative is Amazon’s latest effort aimed at ensuring the e-commerce giant’s customers never have a reason to leave its site.

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Wall Street eyes choppy trade at quarter end

U.S. stock index futures indicated a lower open Tuesday,on the final day of the first quarter ahead of a number of key data releases.

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Teva to buy U.S. drug developer Auspex Pharma for $3.5 billion

Israel's Teva Pharmaceutical Industries said it would buy U.S. neurology drug company Auspex Pharmaceuticals Inc for an equity value of $3.5 billion to boost its portfolio of treatments for the central nervous system. Teva, the world's largest maker of generic drugs, will offer $101 per share in cash, representing a premium of 42.4 percent to Auspex's Friday closing price, the companies said on Monday. In February Teva - Israel's biggest company by market value and revenue - said it was ready to return to making acquisitions after a year focused on cutting costs under its new chief executive, Erez Vigodman.

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Greece, EU/IMF lenders end round of technical talks without deal

Talks between officials from Greece and its EU/IMF lenders in Brussels have ended without a deal on the country's reform plans and may continue next week, three Greek government officials said on Tuesday. "The Brussels Group process has been concluded," one of the government officials said, referring to the informal name of the EU/IMF lenders.

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Japan says not bound by deadline to join AIIB, and not yet decided

As dozens of countries from Europe to the Middle East to Africa jump on the bandwagon of joining the China-backed Asian Infrastructure Investment Bank (AIIB), Japan is opting to stay out for now, with officials believing it can sign up later if its conditions are met. Japanese officials have shrugged off the March 31 deadline set by China to become a founding member of the Beijing-based bank, and say they attach greater importance to conditions being met rather than when to join. Our stance remains unchanged that we must cautiously watch how (China) guarantees fair governance at the AIIB," a government source told Reuters. Japan is caught between the misgivings about the AIIB expressed by its biggest ally, the United States, Tokyo's rivalry with Beijing, and the desire of some officials and businesses to partner with the rapid growth of China, the world's second-biggest economy.

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Vladimir Putin’s New Best Friends: Nervous Oil Traders

The more tense the situation becomes in the Gulf states, the more nervous oil markets get. And with the Russian economy headed into recession, nervous oil traders could be Putin’s best friend.

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Global stocks mostly gain on economic data, China hopes

Global stock markets mostly climbed Tuesday, boosted by positive data from major economies and hopes for stimulus in China. KEEPING SCORE: France's CAC 40 added 0.2 percent to 5,092.19 in early trading ...

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'Lot more easing' coming from China central bank

China's most recent effort to prop up its softening real estate market is not enough, analysts say, noting that a series of interest rate cuts from the central bank is the best remedy.

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IBM says to invest $3 bln in 'Internet of Things' unit

The Armonk, New York-based technology company said its services will be based remotely in the cloud, and offer companies ways to make use of the new and multiplying sources of data such as building sensors, smartphones and home appliances to enhance their own products. For its first major partnership, IBM said a unit of the Weather Co will move its weather data services onto IBM's cloud, so that customers can use the data in tandem with IBM's analytics tools. As a result, IBM is hoping that companies will be able to combine live weather forecasting with a range of business data, so companies can quickly adapt to customer buying patterns or supply chain issues connected to the weather. For example, insurance companies could send messages to policyholders in certain areas when hailstorms are approaching and tell them safe places to park, saving money all round.



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Here Comes a New Wave of Billion-Dollar Hedge Funds

At least five new hedge fund companies are on track to start with at least $1 billion this year, according to data compiled by Bloomberg, after eight firms started with a 10-figure sum last year. Frustrated with the mediocre performance of some of the industry’s old guard, investors hoping for higher returns are writing checks to a handful of new funds, including one run by Brevan Howard Asset Management veteran Chris Rokos and another headed by ex-Elliott Management Corp. star Didric Cederholm. “Most hedge funds aren’t any good, but if you can identify talent early, when they are hungry, you have the potential to generate outsized performance,” said Adam Blitz, chief investment officer at Evanston Capital Management, which invests $5.4 billion in these private partnerships.



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Yoox to Buy Richemont's Net-a-Porter for $775 Million

The deal will give Richemont a 50 percent stake in Yoox, which will be renamed Yoox Net-a-Porter Group, the Geneva-based owner of the Cartier and Chloe brands said in a statement Tuesday. Yoox’s founder, Federico Marchetti, will be chief executive officer, while Net-A-Porter founder Natalie Massenet will be chairman.



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Federal agents accused of stealing $1M in online currency

Two former federal agents are accused of using their positions and savvy computer skills to siphon more than $1 million in digital currency from the illegal black market Silk Road website while they and ...



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U.S. consumer spending tepid; savings at two-year high

U.S. consumer spending barely rose in February as households used the windfall from lower gasoline prices to boost savings to the highest level in more than two years, the latest sign that the economy hit a soft patch in the first quarter. Economic growth has been undercut by bad winter weather, a strong dollar, a now-settled labor dispute at busy West Coast ports and softer demand in Europe and Asia. While the slowdown in activity is likely temporary, it could prompt the Federal Reserve to delay raising interest rates until later this year. "We expect spending activity to rebound meaningfully in the coming months as the weather setback dissipates, but the very weak tone in the data will likely continue to temper the impulse at the Fed to tightening policy in the near-term," said Millan Mulraine, deputy chief economist at TD Securities in New York.

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UnitedHealth to Buy Catamaran for $12.8 Billion

UnitedHealth will pay $61.50 a share, financing the acquisition with cash and debt, the companies said in a statement. The offer, which would be UnitedHealth’s largest purchase ever, is 27 percent more than Catamaran’s closing share price of $48.32 on Friday. Benefits managers like Catamaran help administer the drug coverage in health plans, working with employers and insurers to negotiate with drug companies and pharmacies. The pharmacy benefits industry has become the focal point of tensions between drug companies and customers over the cost of new treatments.



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U.S. small-business borrowing slips in February, up on year: PayNet

U.S. small businesses took out fewer loans last month but borrowing was up from a year ago as firms ramped up investments in their operations, according to data released on Tuesday. An increase of 1 percent to 2 percent indicates businesses are borrowing to replace worn out assets, PayNet founder and President Bill Phelan said. "It tells us that these businesses are investing because they are getting more orders and more purchases from their customers," Phelan said. Small businesses account for nearly half of gross domestic product in the United States, and an increase investments means that GDP will likely increase with a lag of two to five months.

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Cautious China banks could undermine Beijing's property stimulus efforts

As stock market investors cheer Beijing's latest bid to boost the country's ailing housing sector, Chinese bankers are gritting their teeth over the risks they face in further relaxing lending rules to home buyers. Alarmed by persistent weakness in the property market and its increasing drag on the economy, policymakers said on Monday they were cutting downpayments levels for the second time in six months and offering bigger tax breaks. The hope is that by allowing buyers to get mortgages more easily, China can revive the housing market, which accounts for 15 percent of its economy, and where prices are falling at a record pace. "The difficulty for us now is that the deposit has gone down, which increases the risks for us," said a loan officer at one of China's four biggest banks.

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Taiwan, Norway seek to join China-backed AIIB, Japan still cautious

TOKYO/TAIPEI (Reuters) - Japan remains cautious about signing up to the China-led Asian Infrastructure Investment Bank (AIIB), indicating that Tokyo will miss the March 31 deadline for application, but both Taiwan and Norway said they would seek to join the institution. Finance Minister Taro Aso reiterated Japan's concerns about governance at the AIIB, its debt sustainability and environmental and social safeguards. "Unless these conditions are secured, Japan has no choice but to be very cautious about joining," Aso told reporters after a cabinet meeting. Taiwan sought to join the proposed development bank despite historical animosity and a lack of formal diplomatic relations between the island and China.

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China Baosteel vice president under investigation for corruption

A senior official of China's Baosteel Group, the parent of Baoshan Iron & Steel , is being investigated for "serious disciplinary violations", China's corruption watchdog said on Tuesday. The graft watchdog, the Central Commission for Discipline Inspection (CCDI), named the official as Vice President Cui Jian but gave no further details in a short statement. "Serious disciplinary violations" is the term usually used to refer to corruption in China.

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Philips sells 80.1 percent of lighting components unit for $2.8 billion

Philips said on Tuesday it has agreed to sell an 80.1 percent stake in its lighting components division for $2.8 billion to Go Scale Capital, a new investment fund that focuses on "disruptive" ...

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AIG Chairman Steve Miller to step down in July: WSJ

American International Group Inc Chairman Robert "Steve" Miller intends to step down in July after five years in the role, the Wall Street Journal reported. The insurer's directors have not yet ...

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U.S. not liable for alleged SEC negligence in Stanford fraud: court

A panel of the 11th U.S. Circuit Court of Appeals in Miami said the government is entitled to sovereign immunity. Stanford's victims accused the SEC of negligence for having waited until 2009 to uncover the Ponzi scheme, despite having had evidence of it as early as 1997. "We reach no conclusions as to the SEC's conduct, or whether the latter's actions deserve plaintiffs' condemnation," Circuit Judge Julie Carnes wrote for a three-judge panel.

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CEO Musk upbeat about Tesla's future in China - tweets

Elon Musk, the widely followed chief executive of electric car maker Tesla Motors Inc, tweeted several optimistic statements about the company's sagging China operations on Monday, sparking a sharp rebound the company's stock. He also tweeted that he visited Chinese President Xi Jinping and other government officials and expressed "great faith" in Tesla's embattled team in China. The company's stock has been battered this year by investors concerned about the automaker's failure to hit sales targets in China and the departures last year of two top Tesla executives in that country.

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American's confidence in housing on the rise: Zillow

Pending home sales are up, and there's more to look forward to this year.

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McDonald's starts table service in Germany

McDonald's Corp (MCD.N) is introducing table service in Germany as it reinvents itself as a "modern, progressive burger company" under new Chief Executive Steve Easterbrook, it said on Monday. Diners at its Frankfurt Airport restaurant in Germany, one of the company's toughest markets, will now be able to be served at their table after placing an order either at the front counter, a digital kiosk or with waiter carrying a tablet PC. "This is completely new for McDonald's," Thomas Brand, head of development and restaurant innovation for Germany, told a company magazine. The special edition was handed out to guests at the reopening after renovation of the restaurant, McDonald's' biggest in Germany, which has more than 500 seats.

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Oil down as Iran races for Tuesday deadline on nuclear deal

Oil prices fell for the second straight session on Monday as Iran and six world powers negotiated a deal for Tehran's nuclear program that could end Western sanctions, allowing the OPEC member to ship more crude into an already flooded market. The two sides have set Tuesday as an interim deadline for an agreement in the talks at Lausanne, Switzerland.

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2015 Stock Strategy: Sell in June and Go Away?

For stocks, two big dynamics are in play right now: A stalling of corporate earnings growth and the anticipation of higher interest rates as the Federal Reserve prepares its first policy tightening cycle since 2004. You’ve likely heard that already, from me or from others, but you may not recognize the potential significance for your portfolio: These two major factors could keep a lid on price gains well into 2016 — which is when it'll become clear whether or not the U.S. economy is strong enough to handle the Fed's higher interest rates. Credit Suisse researchers went back and looked at the trends around the start of the Fed's last three rate hike cycles in 1994, 1999 and 2004. Credit Suisse found that valuation multiples came under pressure in a window ranging from six months before a rate hike right until action was taken.

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