Monday 7 May 2018

Daily Investor Update: Buffett bashes bitcoin as thriving on mystique, favors stocks

Buffett bashes bitcoin as thriving on mystique, favors stocks

Billionaire investor Warren Buffett on Monday said buyers of bitcoin, which he has characterized as "rat poison squared," thrive on the hope they'll find other people who will pay more for it.

Exclusive: Lockheed resumes F-35 jet deliveries to Pentagon

WASHINGTON (Reuters) - The U.S. Department of Defense resumed accepting F-35 jet deliveries from Lockheed Martin Corp last week after reaching an agreement on who would cover the costs to fix a production error, the Pentagon told Reuters on Monday.

In Omaha, preparing for change at Berkshire Hathaway

The first question Warren Buffett was asked at Berkshire Hathaway Inc's annual meeting on Saturday was whether he was "semi-retired," having given four lieutenants oversight over the company's operating businesses and some investments.

Wynn Resorts in Massachusetts allowed to drop 'Wynn' from license

BOSTON (Reuters) - Massachusetts' gambling regulator on Monday said it allowed Wynn Resorts Ltd to remove founder Steve Wynn's name from its license for a planned $2.5 billion casino following allegations that Wynn subjected women who worked for him to unwanted sexual advances.

New TIM governance does not change Vivendi's obligation re Mediaset: AGCOM

ROME (Reuters) - The new governance set up at Telecom Italia does not change the obligations of top shareholder Vivendi regarding its stake in broadcaster Mediaset , an official from the communications regulator AGCOM said on Monday.

Telecom Italia reappoints Genish as CEO after Elliott coup

MILAN (Reuters) - Telecom Italia (TIM) reappointed Amos Genish as chief executive on Monday, as the phone group enters a new phase after activist fund Elliott wrestled board control from top shareholder Vivendi .

'Facebook effect' turns Swedish steel town into tech hot-spot

OSLO (Reuters) - Facebook will double the size of its data center in Sweden's northern city of Lulea, raising its total investments in the region to about 8.7 billion crowns ($987 million), the company said on Monday.

U.S. oil surges past $70, dollar hits fresh 2018 high

NEW YORK (Reuters) - The dollar rose to fresh 2018 highs on Monday while oil prices surged to their highest since late 2014, driven by declining Venezuelan crude production and worries the Unites States could re-impose sanctions on Iran.

Icahn, Deason want at least $40 per share for Xerox

(Reuters) - Activist investors Carl Icahn and Darwin Deason would consider a bid for Xerox Corp of at least $40 per share, or a split with Fujifilm that will leave the company independent, to resolve an ongoing proxy fight, they said in a letter on Monday.

Apple and oil lead Wall Street higher

(Reuters) - Wall Street climbed on Monday, boosted by Apple's sixth straight day of gains and by a surge in oil prices to their highest levels since 2014.

Trump trims U.S. spending cuts amid warnings of new fiscal fight

WASHINGTON, May 7 (Reuters) - President Donald Trump and conservative Republicans in the U.S. Congress were edging away on Monday from a threat to pick a new budget fight with Democrats, with the White House expected to propose spending cuts much less severe than previously planned.

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