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Press Releases

Berkshire Hathaway event celebrates what makes firm special

OMAHA, Neb.— Berkshire Hathaway's idiosyncrasies were on display this weekend, as tens of thousands of people filled an arena to listen to Warren Buffett and Charlie Munger talk business for several hours Saturday at the conglomerate's annual meeting. No other company can match the crowds who attend Berkshire's meeting, the 51- year-tenure of its top two...

Source: The Associated Press

Panama experts to recommend financial system cleanup

PANAMA CITY— Panama's government established a committee of independent experts Friday to make recommendations on cleaning up the country's financial system, after leaks of documents from a Panamanian law firm caused an international uproar over offshore accounts. President Juan Carlos Varela called for the review after the "Panama Papers" leak...

Source: The Associated Press

UPDATE 1-China's Hunan Dakang buys control of Brazil grains trader Fiagril

SAO PAULO, April 29- Brazilian grains company Fiagril Participações SA sold a controlling stake to China's Hunan Dakang Pasture Farming Co Ltd, a unit of Shanghai Pengxin Group Co, the Brazilian company said on Friday. Two sources with direct knowledge of the deal said the Chinese firm bought a 57 percent stake in family-owned Fiagril, the latest move by...

Source: Reuters

GRAINS-U.S. corn, soybeans, wheat close firm; post monthly gains

CHICAGO, April 29- Chicago Board of Trade corn, soybean and wheat futures all posted modest gains on Friday, supported by a mild round of end-of-month short-covering as well as technical buying when prices dipped into negative territory during the trading session. "The weather is wet across the corn belt through the weekend, but dries out next week to let the boys...

Source: Reuters

Polish firm cuts contracts with 2 stud farms amid turmoil

WARSAW, Poland— A private Polish company said it has ended its contracts with two well-known state-owned stud farms after managers were replaced by the government, highlighting the turmoil surrounding the farms that feature Arabian and other horses. The head of the state Agricultural Property Agency, Waldemar Humiecki, said Friday that the Aug. 15 auction...

Source: The Associated Press

The Latest: Firm says pipeline in fire was fine in 2012

GREENSBURG, Pa.— The Latest on a natural gas fire and explosion in western Pennsylvania:. The energy company that owns the Pennsylvania natural gas pipeline where a huge fire erupted says the pipe had been inspected in 2012 and "no areas of concern" were found. Houston- based Spectra Energy Corp. says the section of pipe where the accident occurred is 30 inches in...

Source: The Associated Press

UPDATE 2-Air Canada looking to firm up Bombardier CSeries order "soon"

April 29- Air Canada, the country's largest airline, said on Friday it was looking to finalize an order to buy 45 Bombardier Inc CSeries jets "soon," looking at firming up an order that was first announced in February. Air Canada also reported a first-quarter profit, compared with a year-earlier loss, due to lower fuel costs, helping send the company's shares up 13...

Source: Reuters

UPDATE 3-Sanofi, Medivation dig in for big biotech takeover battle

*Says $52.50/ share undervalues cancer firm "substantially". PARIS, April 29- Sanofi and its takeover target Medivation dug in for trench warfare on Friday, with the French drugmaker confident of winning over investors and the U.S. cancer firm insisting it was better off staying independent. In its first pronouncement on the subject since Sanofi confirmed its...

Source: Reuters

Medivation rejects Sanofi bid, Sanofi to go to shareholders

NEW YORK— Drug maker Sanofi says it is still committed to its $9.3 billion acquisition offer for Medivation, even though the pharmaceutical firm has rejected its bid. Sanofi has offered $52.50 per Medivation share. Sanofi said that even though San Francisco- based Medivation has chosen to not engage in talks, it is still focused on the combination and will go...

Source: The Associated Press

Indonesian ride-hailing firm Go-Jek needs more funds in market fight-CEO

Go-Jek, a play on the local word for motorbike taxis, has become popular among commuters on the traffic-clogged streets of Jakarta as its phone app removes much of the hassle of finding a driver and negotiating fares. But Go-Jek cannot afford to continue relying on subsidies as "you end up where you run out of money", Go-Jek founder Nadiem Makarim told Reuters on the...

Source: Reuters