Warren Buffett Found His 'Elephant' With Giant Stake in Apple
Apple now accounts for about 14% of Berkshire's market capitalization, more than any other single stock in its portfolio.
Swiss Re Falls Short of Estimates
Swiss Re said its 2019 profit jumped to $727 million, despite steep losses at its property-and-casualty arm, although the bottom-line was well below forecasts.
AXA Profit Misses Forecasts
AXA posted a sharp rise in full-year net profit to EUR3.86 billion, with the previous year skewed by a large impairment charge, but the figure was below analysts' forecasts.
Lloyds Banking Profits Tumble
Lloyds Banking Group reported a sharp fall in annual profit to GBP4.39 billion, missing expectations, after it booked hefty PPI and tax charges.
UBS CEO Ermotti Steps Down, ING's Hamers Named New Chief
UBS Group Chief Executive Sergio Ermotti is stepping down and will be succeeded by current ING Groep boss Ralph Hamers, marking another leadership change at a major Swiss bank.
Investment Firm Buys Taxi-Medallion Loan Portfolio
An investment firm known for buying up distressed assets has become the largest single owner of New York City taxi-medallion loans.
Thiel Capital Spinout Valar Ventures Seeking $400 Million for Pair of Funds
The firm is raising $200 million for Valar Fund VI LP, as well as $200 million for Valar Velocity Fund 2 LP, its second growth fund, according to a fundraising document viewed by WSJ Pro.
Calpers Steps Up Bid to Rein In Private Debt Investment Disclosures
Overseers of the biggest U.S. public pension agreed Wednesday to press for legislated limits on public disclosures concerning private debt investments as a way to retain access to the burgeoning asset class.
U.S. House Subcommittee Scrutinizes Accounting Rule Maker
The new chairman of a House of Representatives subcommittee on capital markets is targeting U.S. accounting rules in a move to increase oversight of a U.S. accounting rule maker, despite a potential battle to enact legislation or alter its powers.
Europe's Test Case for Banking Consolidation
Intesa Sanpaolo's bid for UBI Banca is testing the water for domestic banking consolidation, but cross-border tie-ups are still unlikely.