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Buffett’s Berkshire loses money as stocks, Hurricane Ian offset rising demand

Nov 5 (Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Saturday posted a $2.69 billion third-quarter loss as rising inflation, falling stock investments and a big loss from Hurricane Ian offset improvement in many of the conglomerate’s businesses. Operating profit nevertheless rose by 20%, topping analysts forecasts. Berkshire benefited from increased demand and prices …

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DuPont scraps $5.2 bln Rogers buyout due to China hurdles

Nov 2 (Reuters) – Chemicals maker DuPont De Nemours Inc (DD.N) said on Tuesday it was ending its $5.2 billion buyout of Rogers Corp (ROG.N), the first collapse of a major US deal in four years caused by a failure to clear Chinese regulatory hurdles. DuPont said the termination of the deal was agreed with …

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J&J to buy heart pump maker Abiomed for $16.6 bln ahead of consumer health spinoff

Nov 1 (Reuters) – Johnson & Johnson (JNJ.N) said on Tuesday it struck a deal to buy heart pump maker Abiomed Inc (ABMD.O) for $16.6 billion in cash, as it looks to boost growth in its medical devices unit after next year’s planned spinoff of the consumer health business. J&J agreed to pay $380 per …

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Blackstone to take control of Emerson’s climate tech in $14 billion deal

Oct 31 (Reuters) – Emerson Electric Co (EMR.N) will sell a majority stake in its climate technologies unit to Blackstone Inc (BX.N) in a deal that values ​​the business at $14 billion, as the US industrial firm pivots to supplying to a booming automation market. The company will receive an upfront payment of about $9.5 …

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Elon Musk says Twitter will revise how it verifies users

Oct 30 (Reuters) – Twitter will revise its user verification process, Elon Musk said in a tweet on Sunday, just days after he took over one of the world’s most influential social media platforms. “Whole verification process is being revamped right now”, Musk said in his tweet without giving more details. Twitter (TWTR.N) is considering …

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Musk fired Twitter execs in attempt to avoid payouts, layoffs planned – reports

Oct 29 (Reuters) – Twitter’s (TWTR.N) new owner Elon Musk fired top executives in an effort to avoid hefty severance payouts, while lining up other layoffs as soon as Saturday to avoid stock grants due on Nov. 1, according to media reports on Saturday. Musk fired Twitter Chief Executive Parag Agrawal, Chief Financial Officer Ned …

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Dogecoin surges on Elon Musk’s Twitter deal

Oct 29 (Reuters) – Dogecoin surged more than 70% on Saturday, extending this week’s gains after Elon Musk sealed a $44-billion deal to take over Twitter last week. The Tesla Inc (TSLA.O) CEO, a vocal proponent of cryptocurrencies, has heavily influenced prices of dogecoin and bitcoin. Tesla started accepting dogecoin as payment for its merchandise …

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As Elon Musk takes over Twitter, free speech limits tested

Oct 28 (Reuters) – Mere hours after Elon Musk kicked off a new era at Twitter Inc, the billionaire owner was deluged with pleas and demands from banned account holders and world leaders. The flood of requests underscore the challenge the CEO of electric car maker Tesla Inc (TSLA.O) faces, balancing a promise to restore …

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Zuckerberg to testify in US case against Facebook’s virtual reality deal

Oct 28 (Reuters) – Meta Platforms Inc (META.O) Chief Executive Officer Mark Zuckerberg will testify in a case by the Federal Trade Commission (FTC) that argues the company’s proposed deal to buy virtual reality (VR) content maker Within Unlimited should be blocked. In a court document filed with the US District Court Northern District Of …

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Musk begins his Twitter ownership with firings, declares the ‘bird is freed’

Musk says the “bird is freed” after $44 billion deal Musk fires Twitter CEO, CFO, policy chief Some Twitter users flag willingness to walk away Poll shows employee job concerns EU warns: “This bird will fly by our rules” Oct 28 (Reuters) – Elon Musk has taken ownership of Twitter Inc (TWTR.N) with brutal efficiency, …

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