NEW YORK (Reuters) – Billionaire investor Warren Buffett is getting out of the Canadian mortgage business after a nifty trade that helped a company that had been on the ropes. Buffett’s Berkshire Hathaway Inc (BRKa.N) is “substantially” exiting its stake in Home Capital Group Inc (HCG.TO) after selling shares back to the company, the Canadian […]

The Federal Reserve is widely expected to raise interest rates at its final meeting of the year. Amid mounting worries about the economic outlook for 2019, the Fed is also expected to emphasize that future rate hikes will depend on the continued strength of the domestic economy. Fed Chairman Jerome H. Powell faces the challenge […]

BRUSSELS (Reuters) – Travel lobbying group ETTSA, whose members include Amadeus (AMA.MC) and booking.com, on Wednesday urged EU antitrust regulators to investigate Lufthansa’s (LHAG.DE) surcharges and other allegedly discriminatory measures against travel agents. In its complaint to the European Commission’s antitrust unit, seen by Reuters, the association said Lufthansa’s fees have cost consumers using independent […]

LOS ANGELES (Reuters) – The Boring Company, Elon Musk’s underground transit venture, planned an unveiling of its first tunnel on Tuesday, two years after the billionaire entrepreneur complained about Los Angeles traffic and vowed to “just start digging” as a remedy. Musk has advertised his 2-mile (3.2 km) tunnel as the first step toward developing […]

LONDON (Reuters) – Global equity and crude oil markets attempted on Wednesday to claw their way out of a three-day long plunge that saw investors seek out the safety of bonds amid mounting pessimism over world growth. Oil’s spectacular fall – down almost 10 percent since last Thursday – and world stocks’ plunge to 19-month […]

A group of Anglo Irish Bank bondholders are set to be paid all of the €267m they are seeking from liquidators of the bust bank, despite the State only getting a fraction of the €30bn it invested as a rescue attempt. The remains of Anglo are in the Irish Bank Resolution Corporation (IBRC), where liquidators […]

Millions of people will be placing last minute Christmas orders this week as the final countdown to December 25 gets underway. However, with the busy spell comes lost, broken, and often missing post, which could leave you out of pocket and without a present for a loved one. According to consumer group Which? six in […]

HONG KONG (BLOOMBERG) – Deutsche Bank AG, the German lender that’s struggling to enact a turnaround, has seen a surge in turnover among investment bankers in Asia since May, as cost-cutting and sinking morale has prompted dealmakers to leave, people with knowledge of the matter said. Almost 50 bankers in Hong Kong and Singapore have […]

The British government has put 3,500 troops on standby to help deal with potential disruption caused by a no-deal Brexit. With 100 days until Brexit, ministers in Theresa May’s government have ramped up preparations for the country leaving the EU without a divorce deal. Soldiers are on standby while thousands of businesses and millions of […]

Oil and gas producer Whitecap Resources Inc. said Tuesday it will choke back spending in the first half of 2019 in view of recent volatility in world and western Canadian oil prices, despite the resulting reduction in average production for the year. The mid-sized producer said it plans to spend about $450 million next year, […]