The chairman of a Chinese company that develops online games has agreed to pay $2,345,678 for a private lunch with billionaire investor Warren Buffett, winning a charity auction. This year’s auction was …
Wal-Mart Stores Inc (WMT.N) named the son-in-law of chairman Rob Walton as his successor on Friday, cementing the founding family’s influence over the retailer as shareholders defeated a measure calling for an independent director to lead the board. Some investors, including large pension funds, had been pushing for a chairman without ties to the Waltons, Wal-Mart’s founding family. Greg Penner, 45, took over as chairman from Rob Walton as of
Boeing Co (BA.N) said it expects airline passenger traffic to rise more than 6 percent in 2015, possibly close to 6.5 percent, above its long-range forecast of about 5 percent. “We’ve got work to do,” to hit the order target, Randy Tinseth, Boeing vice president of marketing, said in a series of briefings ahead of the Paris Airshow that starts June 15. Boeing’s forecast is in line with actual growth
Transactions conducted over a period of years are being investigated, and the sum could exceed $6 billion, the source said, adding that the internal probe of the possible abuse being conducted by Deutsche Bank is in its initial stages. Deutsche Bank repeated a statement from May 20, saying it had suspended a small number of traders in Moscow and was conducting an internal review, but gave no details of the
U.S. job growth accelerated sharply in May and wages picked up, signs of strong momentum in the economy that bolster prospects for a Federal Reserve interest rate hike in September. While the unemployment rate rose to 5.5 percent from a near seven-year low of 5.4 percent in April, that was because more people, including new college graduates, entered the labor force, indicating confidence in the jobs market. This leaves the
Greek Prime Minister Alexis Tsipras on Friday spurned “absurd” terms of proposed aid from lenders and delayed a debt payment to the International Monetary Fund, prolonging an impasse that threatens to push Greece into default and out of the euro zone. In a defiant speech aimed at winning parliament’s backing for his rejection of the austerity-for-aid package, Tsipras balanced indignation with confidence that a deal was “closer than ever before”
Amazon.com Inc is in a race against Google Inc to store data on human DNA, seeking both bragging rights in helping scientists make new medical discoveries and market share in a business that may be worth $1 billion a year by 2018. The cloud companies are going beyond storage to offer analytical functions that let scientists make sense of DNA data.
Oil group OPEC agreed to stick by its policy of unconstrained output for another six months on Friday, setting aside warnings of a second lurch lower in prices as some members such as Iran look to ramp up exports. Concluding a meeting with no apparent dissent, Saudi Arabian oil minister Ali al-Naimi said OPEC had rolled over its current output ceiling, renewing support for the shock market treatment it doled
The strategy is another sign of Teva’s commitment to its $40 billion takeover proposal for Mylan, as the latter continues to pursue its own hostile bid for over-the-counter drug company Perrigo Company PLC (PRGO.N). Teva had accumulated around 10.5 million shares in Mylan as of June 4, according to the filing. Teva last week disclosed a 1.8 percent stake in Mylan, which on Monday said in a letter addressed to
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