Category: Business

Trump officials see no Chinese concessions for tariff delays amid market rout

China made no trade concessions after U.S. President Donald Trump postponed 10% tariffs on over $150 billion worth of Chinese imports, senior U.S. officials said on Wednesday, adding that talks aimed at resolving the trade fight would continue and markets should be patient. “This was not a quid pro quo,” U.S. Commerce Secretary Wilbur Ross […]

Vision Fund makes $110 million bet on renewable energy storage

Softbank Group’s (9984.T) Vision Fund has made its first foray into energy storage technology with a $110 million investment in Switzerland-based Energy Vault. While many countries are keen to use renewable energy as part of efforts to cut carbon emissions in the fight against climate change, the challenge has been to find a way to […]

VMWare in talks to buy Pivotal Software; both controlled by Dell

VMware Inc (VMW.N) and Pivotal Software Inc (PVTL.N) are negotiating a deal for VMWare to acquire Pivotal, according to a regulatory filing from Dell Technologies Inc (DELL.N) on Wednesday, valuing Pivotal, a maker of software development and management tools, at about $4 billion. Pivotal shares jumped 63% to $13.60, while shares of VMWare were down […]

Ackman bets on idol Warren Buffett’s Berkshire Hathaway

Billionaire U.S. investor William Ackman has long described how Warren Buffett, often called the greatest stock picker ever, has influenced his career. Now he’s paying the Oracle of Omaha the ultimate homage with a new investment in Buffett’s Berkshire Hathaway. Ackman’s Pershing Square Capital Management bought 3.5 million Berkshire Hathaway B shares during the second […]

WeWork and the new brand of office-space providers

WeWork owner The We Company published detailed financial statements for the first time on Wednesday, revealing breakneck revenue growth and soaring losses as it prepares for an initial public offering as early as next month. WeWork has sent a shockwave through the office real estate sector globally with its model of taking on long-term leases […]

DoubleLine CEO Jeffrey Gundlach warns Fed rate cuts will not stop U.S. recession

Jeffrey Gundlach, chief executive of DoubleLine Capital, warned on Wednesday that rate cuts by the U.S. Federal Reserve were not going to stop a recession from happening and that “once the Fed is in easing mode, it is already too late.” In a telephone interview with Reuters, Gundlach said investors were “slowly trying to reconcile […]