Billionaire Warren Buffet is most likely going to fail in achieving his target for the first time since he took over Berkshire Hathaway in 1965, Bloomberg reported.
United States
Merger activity rises as markets remain buoyant - report
According to a report by The New York Times, mergers are picking up activity as financial markets worldwide, including the US, are becoming stronger and more stable.
Index shows small businesses in US increase borrowings in November
The Thomson Reuters/PayNet Small Business Lending Index showed that small businesses in the US increased their borrowings in November 2013 compared to that of the previous year, Reuters reported.
Syrian Electronic Army claims credit for hacking social media accounts of Skype
The hacker group who called themselves the Syrian Electronic Army said they were the ones that attacked the social media accounts of Microsofit-owned Internet calling service Skype, Reuters reported.
Morningstar data shows outflows of $2.08 billion in December from DoubleLine's flagship fund
The outflows of Jeffrey Gundlach's DoubleLine flagship fund in December last year amounted to $2.08 billion, according to research firm Morningstar's data, marking the seventh month in a row that investors have withdrawn money from the fund.
Latest News
Despite recording huge losses in 2013, gold and silver investments are seen increasing, and analysts attributed these to the improving major economies, including the US.
Google Inc., which acquired startup Bump Technologies last year for $30 million to $60 million, will end the operations of smartphone file-sharing app Bump and photo-aggregating software Flock on January 31.
The Wall Street Journal reported that institutional investors will best remember 2013 as a year of record gains, as buoyant markets facilitated IPOs and debt deals that paid hefty dividends.
New York-based cosmetics company Revlon, which has posted profit declines in 2011 and 2012, will close its operations in China, cutting at least 1,100 jobs. News of the shutdown came a few months after Revlon bought Spanish beauty care company Colomer Group.
Data from Cambridge Associates showed that 2013 was a good year for private equity as they returned $120 billion to their institutional backers, the San Francisco Business Times reported.
Cargo airline Evergreen International Airlines Inc. on December 31 filed for bankruptcy protection in the US Bankruptcy Court in Wilmington, Delaware. Seven other Evergreen affiliates also sought Chapter 7 protection.
Private equity companies are buying the debt of the companies they own so they can become creditors and have a second shot at making money on their investments.
Italian automaker Fiat SpA has agreed to buy the remaining stake of Chrysler Group held by the United Auto Workers retiree healthcare trust, paving the way for both carmakers to finally merge.
U.S. stocks closed out their best year in more than 15 on Tuesday, rising modestly on a strong consumer confidence reading that kept 2013's upward bias intact to the end.
