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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Munger: It’s time to break up the banks

Category : Stocks

Warren Buffett’s chief lieutenant, Charlie Munger, says Brown-Vitter won’t work.

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Buffett’s Berkshire blows past estimates

Category : Stocks

Warren Buffett hasn’t lost a step.

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Warren Buffett and board ‘agree’ on next CEO – but name no names

Category : Business

Buffett , 82, says he is ‘solidly in agreement’ with Berkshire Hathaway board members as to who should take over from him

Warren Buffett and the board of his conglomerate Berkshire Hathaway are “solidly in agreement” on who should be the company’s next chief executive, he said at Berkshire’s annual shareholder meeting on Saturday.

But Buffett, as with past practice, did not actually name his successor as CEO.

Speculation usually focuses on a small group of top Berkshire executives, among them insurance boss Ajit Jain and railroad leader Matt Rose.

The 82-year-old Buffett, in response to a shareholder question, said he thinks all the time about what could go wrong at Berkshire after he is gone.

“The key is preserving a culture and having a successor, a CEO that will have more brains, more energy, more passion for it than even I have … We’re solidly in agreement as to who that individual should be,” Buffett said.

Whoever ultimately takes over Berkshire will run a conglomerate that employs more than a quarter-million people in dozens of businesses worldwide, covering everything from ice cream to insurance and retail to railroads.

Its breadth means that its performance is often seen as a barometer for the broader economy. Earlier Saturday, one of Buffett’s top lieutenants said things were picking up but could improve further.

“It feels like a 2% economy. If we want to see GDP click up to 3.5%, 4%, you need to see more construction,” said Rose, CEO of the railroad Burlington Northern, in an interview.

Rose said BNSF was seeing “across the board” increases in demand to ship things like concrete, roofing tiles and cars.

But as much as investors want to hear about Berkshire’s growth potential and the state of the economy, some also attend the meeting just for a good laugh.

The meeting opened, as it does every year, with a video montage. This year’s included a duet between Buffett and singer Jon Bon Jovi and a take-off on the TV series Breaking Bad.

Some of the best comedy, though, usually comes in the verbal sparring between Buffett and Vice Chairman Charlie Munger over the course of the day. The two are close – they usually share an oversize box of peanut brittle during the meeting – but Munger’s acerbic tongue pops out from time to time.

“I come to see Charlie Munger needle Warren Buffett. Only he can,” said Sherman Silber, a doctor and shareholder.

VIDEO: Buffett’s ‘Woodstock for capitalists’

Category : Business, World News

Legendary US investor Warren Buffett will host his annual shareholder meeting this weekend with almost 35,000 investors in attendance.

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Warren Buffett Twitter followers jump

Category : Business, World News

Legendary US investor Warren Buffett looks set to be one of Twitter’s most followed users as thousands flock to follow him.

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Heinz: Buffett buyout gets even less Buffett-y

Category : Business, Stocks

Heinz’s new CEO Bernardo Hees comes from Burger King and, before that, Buffett’s buyout partner 3G. It’s another move that’s outside of Buffett’s playbook.

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Wanna invest like Buffett? There’s an app for that

Category : Business, Stocks

A new app, iBillionaire, gives individual investors insight into what Buffett and other billionaires are doing with their money.

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Warren Buffett increases shareholding in Goldman Sachs

Category : Business

Profit made on investor’s capital injection during the 2008 crisis turned into shares

Legendary investor Warren Buffett will become one of the 10 largest investors in Goldman Sachs after the profit he made on his capital injection into the Wall Street firm during the 2008 crisis was turned into shares.

Buffett’s Berkshire Hathaway investment vehicle saves billions of dollars in upfront costs through the profit on warrants being turned into 9.6m Goldman shares – astake of about 2%.

“We are pleased that Berkshire Hathaway intends to remain a long-term investor in Goldman Sachs,” Goldman Sachs chief executive Lloyd Blankfein saidt.

Buffett, in the same statement, affirmed that Berkshire intended to retain a “significant investment” in Goldman.

Berkshire received the warrants in 2008 after investing in Goldman during the depths of the financial crisis in what was seen at the time as a vote of confidence in the bank.

Buffett on track to be top Goldman shareholder

Category : Business, Stocks

Buffett’s Berkshire Hathaway will receive shares in Goldman in October, an outcome of his investment during financial crisis

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Buffett to increase stake in Goldman

Category : Business

Warren Buffett is to become a top 10 shareholder of Goldman Sachs after he agrees to amend the terms of his 2008 investment in the bank.

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