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The Bufferoo portfolio: What Buffett would buy in Australia

Australia's market has a small club of shares Warren Buffett might buy, analysts at Credit Suisse said in the wake of the storied investor's maiden acquisition Down Under.
Source: CNBC.com | By: Leslie Shaffer
Hedge funds see more demand fueled by solid first half returns

BOSTON/ LONDON, July 2- Hedge funds will likely attract billions of dollars in new money in the next six months after posting solid returns in the first half even as Wall Street's sell-off, sparked by Greece's debt drama, took a bite out of some managers' June returns. June's late month sell-off did hurt monthly returns at Barry Rosenstein's Jana Partners, which fell...
Source: Reuters | By: Svea Herbst-Bayliss and Nishant Kumar
UPDATE 1-Vertex Pharma's lung disorder therapy wins FDA nod

July 2- Vertex Pharmaceuticals Inc's unique combination therapy for a rare lung disorder was given the green light by U.S. health regulators, extending the company's reach to the most common form of genetic mutation responsible for cystic fibrosis. Orkambi, a combination of Vertex's approved drug Kalydeco and a new compound called lumacaftor, is intended for...
Source: Reuters | By: Samantha Kareen Nair
Top US auto safety regulator says Chrysler to face sanctions

WASHINGTON- The chief U.S. auto safety regulator says Fiat Chrysler will face sanctions for violating safety laws in multiple recalls. National Highway Traffic Safety Administration chief Mark Rosekind says the agency will act before Labor Day and that the automaker will face enforcement action. The agency has authority to fine companies as much as $35...
Source: The Associated Press | By: By TOM KRISHER and MARCY GORDON, AP Business Writers
Fiat Chrysler seeks to rebut criticism ahead of U.S. safety hearing

WASHINGTON, July 2- Fiat Chrysler Automobiles NV went on offense ahead of a hearing before federal regulators to blunt criticism of its plan to install trailer hitches on 1.5 million Jeep Cherokee and Liberty SUVs to avert a more costly fix to reduce the risk that fuel tanks could rupture and catch fire in rear-end collisions. Thursday's hearing, convened by the...
Source: Reuters | By: David Morgan
Landmark Berkshire County resort sold for $18M

LENOX, Mass.- A landmark Berkshire County resort once owned by Harriet Beecher Stowe has been sold for $18 million. The Berkshire Eagle reports that CampGroup LLC and L.D. Builders under the corporate umbrella 55 Cranwell LLC bought the 380- acre Cranwell Spa and Golf Resort in Lenox. Andrew Benerofe, CampGroup chairman, says the plan is to upgrade and elevate the...
Source: The Associated Press
REFILE-UPDATE 2-PayPal to buy digital money transfer provider Xoom

SAN FRANCISCO, July 1- PayPal Inc said it would buy digital money transfer provider Xoom Corp for $890 million as it muscles into a growing international remittance market and expand in countries like Mexico, India and China ahead of a spinoff from eBay Inc.. The acquisition would allow Xoom to expand into new markets with less execution risk, Xoom CEO John Kunze...
Source: Reuters | By: Mari Saito
FourPoint Energy buying well assets for $840 million

NEW YORK- FourPoint Energy LLC will buy oil and gas assets from Chesapeake Exploration LLC and CHK Cleveland Tonkawa LLC for about $840 million. The sellers are subsidiaries of Oklahoma City- based Chesapeake Energy Corp.. The assets involved in the deal include an interest in about 1,500 producing wells primarily in the Cleveland, Tonkawa and Marmaton...
Source: The Associated Press
UPDATE 1-PayPal to buy digital money transfer provider Xoom

July 1- PayPal Inc said it would buy digital money transfer provider Xoom Corp for about $890 million in enterprise value as it tries to expand in markets such as Latin America, India and China ahead of a spinoff from eBay Inc.. The offer price of $25 per share in cash represents a premium of about 21 percent to Xoom's Wednesday closing price of $20.70.
Source: Reuters
UPDATE 2-U.S. SEC says Connecticut firm inflated hedge fund valuations

They also agreed to wind down their AlphaBridge Fixed Income Master Fund and two similarly named "feeder funds," which were all launched in 2001, and Carino accepted a three-year ban from the securities industry, the SEC said. Instead, the SEC said the defendants by 2010 were generating those valuations themselves, and encouraging broker-dealers to pass them...
Source: Reuters | By: Jonathan Stempel