Reuters - Money

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Friday, January 12, 2018

Berkshire energy unit names CEO to replace potential Buffett successor

(Reuters) - Berkshire Hathaway Inc's energy unit on Thursday named William Fehrman as its new chief executive to replace Gregory Abel, who was promoted a day earlier to oversee more Berkshire units, and potentially succeed Warren Buffett.

PNC Financial profit more than doubles in fourth quarter

(Reuters) - U.S. regional lender PNC Financial Services reported a better-than-expected quarterly profit on Friday, helped by higher interest income and consumer loan growth.

Walmart wage hike may show wage pressures building for lowest paid

WASHINGTON (Reuters) - Walmart's tit-for-tat minimum wage battle with Target, ratcheting to $11 an hour for the least experienced workers with likely pressure to move higher, may signal broader gains to come for workers in a tightening U.S. labor market - a moment politicians and policymakers have been hoping for.

BlackRock, Vanguard tapping more into electronic bond trading

NEW YORK (Reuters) - Electronic trading is becoming increasingly important when it comes to corporate debt as fund management firms try to knit together sources of liquidity in a fragmented market, executives from Vanguard Group Inc and BlackRock Inc said on Thursday.

U.S.-based equity funds attract $12 billion of new cash in latest week: Lipper

NEW YORK (Reuters) - Investors' appetite for risk was on display this week as U.S.-based equity mutual funds attracted $1.45 billion of net inflows, their third straight week of inflows, and U.S.-based equity exchange-traded funds attracted $10.6 billion, according to Lipper data on Thursday.

Bill Gross of Janus: 'Bonds, like men, are in a bear market'

NEW YORK (Reuters) - Billionaire bond veteran Bill Gross of Janus Henderson said on Thursday that the U.S. Treasury market has begun a bear market, though "not a dangerous one" for investors.

Grad school can be worth it if you pick wisely: study

(The Jan. 10 story was refiled to clarify description of Sallie Mae as a student loan lender instead of a student loan servicer in paragraph 3.)

Shopping for nursing homes more tricky in Trump era

CHICAGO (Reuters) - Finding a safe, high-quality nursing home for a loved one is never an easy task. Complicated decisions often are made at a moment of emotional crisis and reliable guidance can be difficult to come by.

Buffett succession gains clarity as Berkshire promotes Abel, Jain

(Reuters) - Berkshire Hathaway Inc on Wednesday promoted two of its top executives, Gregory Abel and Ajit Jain, adding them to its board and cementing their status as the front runners to succeed Warren Buffett atop the conglomerate.

U.S. judge denies effort to stop Mulvaney from heading consumer watchdog

WASHINGTON (Reuters) - A U.S. federal judge denied on Wednesday a preliminary injunction sought by the deputy director of the Consumer Financial Protection Bureau seeking to stop White House budget director Mick Mulvaney from taking control of the agency.