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Warren Buffett's Berkshire Hathaway posts $21.70 billion profit in Q1
Warren Buffett's Berkshire Hathaway on Saturday posted net earnings of $21.70 billion, or $13209 per A share and $8.81 per B share, for the quarter ended March 2018. The company had posted a net loss of $1.14 billion for the same quarter last year.

During the quarter, gains from investments and derivative contracts jumped to $20.32 billion against

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Bharti is said to kick off IPO of $5 billion Africa arm in May
By Ruth David, Dinesh Nair and P R Sanjai

Bharti Airtel, India’s second-biggest wireless carrier, is preparing to kick off the initial public offering of its Africa unit in a deal that could raise about $1 billion, people familiar with the matter said.

Airtel Africa is planning to make a formal announcement about the London listing this month and

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Insurers asked to make provisions for IL FS, RCap defaults
MUMBAI: Like banks, insurance companies will also have to make full provisions for their defaulting exposure to cash-strapped IL-FS group and the two Reliance Capital arms which were downgraded recently, the insurance regulator Irdai said Friday.

The regulator said the insurers with exposure to Anil Ambani-run Reliance Capital's

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Berkshire ramps up stock buybacks as cash pile keeps growing
Warren Buffett’s Berkshire Hathaway Inc., sitting on a cash pile of more than $114 billion, spent the first quarter snapping up more of its own stock.

The Omaha, Nebraska-based conglomerate repurchased $1.7 billion of shares as the stock dipped in the first quarter. That was more than the $1.3 billion that Berkshire, which historically has

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Jaypee Infratech CoC rejects Suraksha's bid
NEW DELHI: Mumbai-based Suraksha Realty has failed to make the cut as the Committee of Creditors (CoC) of Jaypee Infratech Ltd (JIL) rejected its bid to acquire the insolvent company.

The e-voting procedure, which started on April 30, lasted till 12 noon on Friday.

The next procedural step would be the company going for liquidation and the

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Play smart with investments during polls
By Dhirandra KumarCEO, Value Research

One of Warren Buffett’s less known but deep quotes is, “When ‘dumb’ money acknowledges its limitations, it ceases to be dumb.” There’s a lot of meaning in those 11 words. Conventionally, ‘smart’ or ‘dumb’ money means exactly what it means. Dumb investors don’t know how to invest, what to invest in, and when to i

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Auction of private meal with Warren Buffett held in late May
Warren Buffett: Auction of private meal with Warren Buffett held in late May - The TheIndianSubcontinent

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CEO of Buffett-owned Brooks Running moves production out of China, cites tariff threat
The chief executive of Brooks Running, part of Warren Buffett's Berkshire Hathaway Inc, said his company will shed much of its presence in China by moving running shoe production to Vietnam, a result of the trade dispute between China and the United States.

Jim Weber, who has run Brooks since 2001, said in an interview that Brooks made the

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Anil Ambani needs $2 billion in asset sales to save last bastion
By P R Sanjai and Anto AntonyThe last stronghold in embattled tycoon Anil Ambani’s phone carrier-to-power empire is also developing fault lines.

Reliance Capital Ltd., his financial services business that almost doubled its profit in five years, had largely remained insulated from the distress plaguing the wider conglomerate. Now, the company that

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Pilgrimage to see Warren Buffett out of step with populist mood
When WarrenBuffett takes the stage at Berkshire Hathaway Inc's shareholders' meeting on Saturday, the 88-year-old billionaire will be greeted, as usual, by tens of thousands of adoring followers from around the world.

Yet the Berkshire chairman and chief executive officer's optimism about the state of capitalism, a likely theme as he and Vice

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LTTS net profit up 21% in Q4FY19
L-T Technology Services (LTTS) reported a net profit of Rs 191.5 crore for the quarter ended 31st March, 2019, up 21 per cent over the corresponding quarter last year. Revenue for the period was up 27 per cent at Rs 1,343 crore. In dollar terms, revenue was up 18 per cent at $191.3 million. The EBITDA margin was at 18.5 per cent; up by 240bps
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Blanket ban on cryptocurrency may prove to be futile, claim experts
MUMBAI: The Centre’s proposal to implement a blanket ban on the sale, purchase and issuance of cryptocurrency may not only prove futile but also be counterproductive, claim experts of the domain.

Last week, ET had reported that a draft bill proposing the ban is being discussed among various government bodies.

Further, at a recent meeting of

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LIC Housing Finance Q4 net jumps 17% to Rs 694 crore
NEW DELHI: LIC Housing Finance on Saturday reported 17 per cent YoY rise in net profit after tax (PAT) at Rs 693.58 crore for March quarter.

The housing finance company (HFC) had reported Rs 594.34 crore profit for the year-ago quarter.

Net interest income (NII) rose 21 per cent YoY to Rs 1,201 crore from Rs 989 crore in the same quarter last

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BMC planning to issue defamation notice to Samir Arora
Mumbai: Mumbai's municipal corporation is planning to issue a defamation notice to Singapore-based fund manager Samir Arora as the civic body received flak on social media following a recent incident when he fell into a open manhole, said a senior official.

Arora fell into a manhole outside Phoenix Mills office in Mahalakshmi on April 25. It

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Share pledge levels of select Indian companies hit new highs in March quarter while many others revoked their pledged shares, showing two different shades of health of India Inc.

Data available on BSE showed the total value of shares pledged by promoters stood at Rs 2.25 lakh crore as of April 26, equalling 1.60 per cent of total market

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Icra downgrades ratings, outlook on Yes Bank, 2 Reliance Capital arms
MUMBAI: Private sector lender Yes Bank had a double-whammy Saturday after domestic rating agency Icra downgraded its long-term ratings along with a negative outlook, citing a spike in its lower-rated advances and falling core capital buffers.

The agency also downgraded the short-term ratings on two entities of the Anil Ambani-led Reliance Capital -

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Wall Street bounces on robust job additions in April
Wall Street's main indexes gained on Friday, as a surge in job additions in April pointed to a solid domestic economy, while a steady rise in wages backed the Federal Reserve's patient view on interest rate hikes.

The Labor Department's monthly employment report showed jobs increased by 263,000 last month, while economists polled by Reuters had

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HUL drops as investors turn cautious ahead of Q4 results
NEW DELHI: Shares of Hindustan Unilever (HUL) fell 1 per cent in Friday’s trade ahead of the FMCG firm’s fourth quarter results. Analysts are mostly penciling in a 14-18 per cent growth in March quarter profit, led by 7-9 per cent growth in revenues.

They see volume growth in 6-8 per cent range against December quarter’s volume growth of 10 per c

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Cognizantsharp cut in forecast fells IT stocks
BENGALURU | MUMBAI: Software exporter Cognizant triggered a sharp decline in Indian IT stocks on Friday after the US-headquartered company said its revenue in the current financial year will grow at about half the rate forecast earlier.

The country’s top five IT companies lost about Rs 38,900 crore in market capitalisation, with their stocks e

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By Kiel Porter and Rachel Adams-Heard

Occidental Petroleum Corp’s bombshell investment from Warren Buffett is the culmination of almost two years of on-and-off-again wrangling with Anadarko Petroleum Corp -- a saga that’s so far seen the company slip through its fingers several times.

With Buffett in its corner and a higher bid on the table,

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India’s car stocks have lost $42 billion in value in the last 16 months, and some analysts say the rout may not be over.

A gauge of automobile companies has fallen 30 percent since reaching a record in December 2017, and is the worst-performer among 19 sector indexes in the nation’s equity market this year. That’s as the benchmark S-P BSE Sen

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Irdai chief stresses on need to improve corporate governance
MUMBAI: The insurance regulator called upon all companies to look at corporate governance standards to be fair, transparent, trustworthy and financially sound.

“Companies should look at corporate governance and related party transaction,” Subhash Khuntia, chairman, Insurance Regulatory and Development Authority (Irdai), said at the annual

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Tata Chem Q4 net profit up 26% to Rs 450 crore
NEW DELHI: Tata Chemicals Friday posted a 26.46 per cent jump in its consolidated net profit at Rs 450.10 crore during the fourth quarter of 2018-19 fiscal on strong sales.

The company's net profit stood at Rs 355.90 crore in the same quarter during previous fiscal. This excludes Rs 854.29 crore profit from its discontinued operations in the said

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Bombay Dyeing surges 12% on strong Q4 results
NEW DELHI: Shares of Bombay Dyeing - Manufacturing climbed 12 per cent in Friday’s trade after the company reported multifold jump in March quarter profit at Rs 1,253.33 crore, boosted by real estate activities.

In a filing to BSE, the company said the nature of real estate activities it carries out is such that gains from the transactions do

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Co-location case: 3 NSE officials move SAT for stay order on Sebi ban
MUMBAI: Three senior executives of National Stock Exchange (NSE) have moved the Securities Appellate Tribunal (SAT) seeking a stay order on the ban imposed by market regulator Sebi on them in the co-location case. The tribunal will hear the case on Monday, said a lawyer representing the officials.

Three senior executives of National Stock Exchange

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Facebook considering its own bitcoin for payments
SAN FRANCISCO: The Wall Street Journal reports that Facebook plans a cryptocurrency-based payment system that it could launch for billions of users worldwide.

The system would use a digital coin similar to bitcoin, but different in that Facebook would aim to keep the coin's value stable.

Bitcoin and similar cryptocurrencies have been susceptible

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HDFC Life tanks 4% as OFS by Standard Life kicks off
NEW DELHI: Shares of HDFC Life Insurance fell nearly 4 per cent in Friday’s trade as the two-day offer for sale (OFS) by Standard Life (Mauritius Holdings) kicked off.

The floor price of the issue was set at Rs 390, a 6.47 per cent discount to Thursday’s closing price of Rs 417. Following the development, the scrip fell 3.6 per cent to hit a low o

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MUMBAI: Investors could buy shares of HDFC Life Insurance in the ongoing the share sale by co-promoter Standard Life, said analysts. On Friday, the offer for sale for institutional investors was subscribed 3.4 times. Retail investors will get to participate in the two-day share offer on Monday.

Standard Life is offering HDFC Life shares at Rs 390

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My firm has bought first Amazon shares, says Buffett
NEW YORK: Berkshire founder and CEO Warren Buffett has said that his firm just bought its first Amazon shares. The news led to Amazon shares surge 2.3 per cent in the pre-market trade on Friday.

According to a CNBC report on Thursday, Buffett said that someone at Berkshire's asset management desk just invested in some Amazon shares, but "it wasn't

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Bombay Dyeing posts net profit of Rs 1,253 crore in Q4 - The TheIndianSubcontinent

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The company had posted a net profit of Rs 10.9

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