Brazil's Deposit Guarantee Agency to Buy Back Cruzeiro do Sul Debt
Brazil's Deposit Guarantee Agency, known as FGC, said Tuesday it will buy back at a discount debt sold by troubled Banco Cruzeiro do Sul SA (CZRS4.BR) as it seeks buyers for the bank.
Samsung Focuses on Alleged Apple Infringement, Defends Own Actions
SAN JOSE, Calif.--Samsung Electronics Co. (SSNHY, 005930.SE) defended against Apple Inc.'s (AAPL) arguments that it had copied the iPhone, while accusing Apple of violating three Samsung patents as the high-stakes patent trial between the companies continues its second phase.
Westfield 1st Half Profit Up 31% As Store Property Incomes Rise
Westfield Group (WDC.AU) said Wednesday its first-half net profit rose by almost a third as it benefited from positive property valuations, asset sales and increased shopper activity in its malls.
Commonwealth Bank of Australia Fiscal Year Profit Up 11%
Commonwealth Bank of Australia (CBA.AU) on Wednesday reported net profit for fiscal 2012 of 7.09 billion Australian dollars (US$7.4 billion), up 11% on year, but said revenue growth was subdued as customers remained cautious about the global environment.
Buffett's Berkshire Cuts Stake in Kraft and P&G
Warren Buffett's Berkshire Hathaway Inc. (BRKA, BRKB) partially liquidated massive holdings in Kraft Foods Inc. (KFT) and Procter & Gamble Co. (PG) in the second quarter, decisions that may indicate the transfer of more investment duties to the next generation of Berkshire stock pickers.
Soros, Paulson Reduce Bank Stakes; Soros Takes on Facebook
Hedge fund managers reported significantly reduced--and in some instances eliminated--stakes in big banks, including J.P.
Soros Fund Reports New Stake in Wal-Mart, Facebook; Cuts Big Bank Positions
Billionaire investor George Soros's Soros Fund Management LLC reported new stakes in retail heavyweight Wal-Mart Stores Inc. (WMT) and Facebook Inc. (FB), while eliminating positions in big banks J.P.
BATS Plans Program to Lure Retail-Investor Trading
BATS Global Markets Inc. said Tuesday it aims to offer a new trading program designed to improve the prices individual investors pay on their stock orders.
Report: Strategic Hotels to Buy NY's Essex House for $375M
Strategic Hotels & Resorts has reportedly agreed to buy the 509-room hotel at Central Park for about $375 million.