Category Archives: business

Crop herbicides play a role in shrinking monarch population

By HEATHER HOLLINGSWORTH, Associated Press KANSAS CITY, Mo. (AP) — A butterfly being considered for federal protection is emblematic of the plight that pollinating insects face in part because farmers, enticed by ethanol mandates, are growing more herbicide-resistant crops, which has stripped millions of acres of crucial plant habitat Continue reading

Herbalife cuts pay of CEO Johnson 36 percent after missed targets

William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks to the audi … BOSTON (NEWS.GNOM.ES) – Herbalife Ltd cut the pay of Chief Executive Michael Johnson 36 percent for 2014 after the nutrition and weight loss company failed to meet performance goals set for him and other top executives, according to a securities filing on Friday. Herbalife said Johnson, who is also chairman, received total compensation of $6.73 million last year, down from $10.5 million in 2013, mainly because he did not receive the incentive plan compensation of $3.7 million he got the prior year. Herbalife has been closely watched since activist investor William Ackman accused the company of running a pyramid scheme in 2012, while rival investor Carl Icahn became the company’s biggest owner in 2013 Continue reading

Hyundai recalls 263,000 cars due to power-steering problem

NEW YORK (AP) — Hyundai is recalling about 263,000 cars in the U.S. and Canada because a sensor problem could cause drivers to lose power-assisted steering Continue reading

BP ex-chief Browne to run Russian oligarchs’ oil venture: FT

LONDON (NEWS.GNOM.ES) – John Browne, the former chief executive of BP , will take charge of a $10 billion oil and gas venture backed by Russian billionaire Mikhail Fridman to help it expand internationally through partnerships and acquisitions, the Financial Times reported.  Browne told the newspaper he will be appointed executive chairman of L1 Energy on Monday, giving up his jobs at private equity firm Riverstone and UK gas explorer Cuadrilla. The appointment comes as L1 Energy, backed by investment funds owned by Fridman and his partner German Khan, prepares to complete as early as next week a 5 billion euro ($5.60 billion) deal to buy RWE Dea RWEDE.UL, the oil and gas arm of German utility RWE Continue reading

Warren Buffett says Berkshire has ‘right person’ as heir

NEW YORK (NEWS.GNOM.ES) – Warren Buffett, in his 50th anniversary letter to shareholders, said on Saturday that Berkshire Hathaway had finally chosen the right person to succeed him. “Both the board and I believe we now have the right person to succeed me as CEO – a successor ready to assume the job the day after I die or step down,” the billionaire investing icon said, in a missive celebrating five decades heading the conglomerate. (Reporting by Luciana Lopez; Editing by David Holmes) Warren Buffett Berkshire Hathaway Continue reading

Berkshire Hathaway net falls, operating profit rises

(NEWS.GNOM.ES) – Warren Buffett’s Berkshire Hathaway Inc on Saturday said profit declined 17 percent in the fourth quarter from a year earlier, reflecting lower investment gains, though operating results improved. Net income fell to $4.16 billion, or $2,529 per Class A share, from $4.99 billion, or $3,035 per share, a year earlier. Quarterly operating profit rose 5 percent to $3.96 billion, or $2,412 per share, from $3.78 billion, or $2,297 per share Continue reading

Buffett recommends investing in stocks but avoiding mistakes

OMAHA, Neb. (AP) — Billionaire Warren Buffett says owning stocks is the key to building wealth over time, but investors must avoid the common mistakes of trading too often and paying high investment fees. The billionaire investor says there’s every reason to expect stocks to perform well long-term, even if prices are volatile. Continue reading

Berkshire Hathaway’s 4Q profit declines 17 percent

OMAHA, Neb. Continue reading

Striking Danish cabin crew forces SAS to cancel 30 flights.

COPENHAGEN, Denmark (AP) — Scandinavian Airlines says some 30 flights out of Copenhagen have been canceled after members of a Danish cabin crew union walked out to protest the carrier’s plan to move 147 employees to a domestic airline that SAS acquired last year. Group spokeswoman Trine Kromann-Mikkelsen says the strike was “illegal,” adding SAS canceled 60 flights Friday when the walkout started. Kromann-Mikkelsen could not immediately confirm that dozens of SAS-operated flights to Copenhagen also were canceled Saturday Continue reading

HSBC not the troublemaker made out to be, rival Swiss banker says

People are seen inside a HSBC Swiss branch of the bank in Geneva February 18, 2015. NEWS.GNOM.ES/Pierre A … ZURICH (NEWS.GNOM.ES) – HSBC , in the spotlight after details emerged about how its Swiss unit allegedly helped clients dodge taxes, isn’t the troublemaker it is currently depicted as, the head of a rival private bank was quoted saying on Saturday Continue reading