The biggest name in investing is making what he calls an “all-in wager” on the U.S. economy — $34 billion to own a railroad that hauls everything from corn to cars across the country.
The acquisition of Burlington Northern Santa Fe, the nation’s second-largest railroad, would be the biggest ever for Warren Buffett’s Berkshire Hathaway investment [...]
Archive for the ‘US Finance’ Category
Buffett’s big bet: $34B on 2nd-largest railroad
November 3rd, 2009 by Financial Writer
Tags: Buffett, economic, economy, railroad industry, world of finance
more...G20 to seek progress on world growth scheme
November 3rd, 2009 by Financial Writer
Group of 20 financial leaders will seek to firm up a plan to rebalance the world economy when they meet this week, looking to beat out how to set national policy goals and make sure everyone keeps to them, officials said on Monday.
Sources from the group of rich and developing nations said that talks were [...]
Tags: Economic Turmoil, economy, financial leaders, financial markets, g20
New business coalition opposes House health bill
November 2nd, 2009 by Financial Writer
Eleven of the nation’s largest business groups are beginning a multimillion-dollar TV ad campaign that says the health overhaul legislation in the House would raise taxes and worsen the economy without curbing medical expenses.
“Over $500 billion in crushing tax increases. But nothing to control rising health care costs,” says the ad, which is to begin [...]
Tags: business, economy, healthy economy, house health bill
3 strong economic reports lift hopes for recovery
November 2nd, 2009 by Financial Writer
Hopes for the fledgling economic recovery got a boost Monday from better-than-expected news on manufacturing, construction and contracts to buy homes.
U.S. manufacturing activity grew in October at the fastest pace in more than three years, according to a private group’s measure. It was driven by government spending, businesses’ need to rebuild their inventories and higher [...]
Tags: businesses, decision economics, economic, financial stocks, inventories
Commercial lending giant CIT files bankruptcy
November 2nd, 2009 by Financial Writer
Lender CIT Group has filed for bankruptcy protection, in an effort to restructure its debt while trying to keep loans flowing to the thousands of mid-sized and small businesses.
CIT made the filing in New York bankruptcy court Sunday, after a debt-exchange offer to bondholders failed. CIT said in a statement that its bondholders have overwhelmingly [...]
Tags: bankruptcy, businesses, commercial lending, Debt, economy
U.S. consumer sentiment dips in Oct: survey
October 30th, 2009 by Financial Writer
U.S. consumer sentiment slipped this month as Americans fretted about personal finances and focused on paying down debt, a survey showed on Friday.
The Reuters/University of Michigan Surveys of Consumers said its final index of sentiment for October slipped to 70.6 from 73.5 in September.
In spite of the decline, sentiment remained well above where it was [...]
Tags: Debt, finances, inflation, unemployment
Economy grows in 3Q, signals end of recession
October 29th, 2009 by Financial Writer
The economy grew at a 3.5 percent pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes.
The Commerce Department’s report Thursday delivered the strongest signal yet that the economy entered a new, though fragile, phase of recovery and that the worst recession since the 1930s has [...]
Tags: businesses, consumers, economy, recession, unemployment
Ford: China’s Geely preferred bidder for Volvo
October 28th, 2009 by Financial Writer
A group led by China’s Geely Group is the preferred bidder for Ford Motor Co.’s Volvo Cars unit, the U.S. automaker said Wednesday.
Ford said the selection signals that it is conducting “more detailed and focused negotiations” with Zhejiang Geely Group Holding Co. Ltd. about selling the Swedish automotive business.
“Ford’s objective in our discussions with Geely [...]
Tags: automaker, business, cars, China, financial, ford motor, volvo
Patrick economic summit aims to kickstart Mass
October 27th, 2009 by Financial Writer
Massachusetts will consider a fund to provide capital to small- and medium-sized businesses, Gov. Deval Patrick announced Tuesday as he closed a one-day summit with government and business leaders.
The Democrat also said he would explore ways to provide strategic advice to smaller businesses, whose growth could play a pivotal role in the state’s recovery from [...]
Tags: business, businesses, economic, recession
Russia out of recession as economy grows in Q3
October 26th, 2009 by Financial Writer
Russia technically emerged from recession in the third quarter after official data on Monday showed economic activity grew 0.6 percent from the previous three months — the first quarterly rise since the crisis struck a year ago.
Despite the increase, gross domestic product was still 9.4 percent below year-earlier levels, underscoring the amount of damage the [...]
Tags: economic, economy, increase, recession, russia