Warren Buffett is providing a little balm for Japanese markets, saying that he doesn't believe that the earthquake, tsunami and now nuclear crisis that have battered the country will change its economic future. Mr. Buffett told Reuters he wouldn't sell, and often such opportunities present a chance to buy shares.
"Frequently, something out of the blue like this, an extraordinary event, really creates a buying opportunity. I have seen that happen in the United States, I have seen that happen around the world. I don't think Japan will be an exception," he told Reuters.
The arbs nightmare: A yearlong AT&T bid
Getting approval for AT&T Corp.'s purchase of T Mobile could drag on for a year, and isn't a sure thing even if the company sells assets and increases service, Bloomberg News reports.
Rio Tinto struggles to get Riversdale
Rio Tinto's quest to buy Riversdale Mining Ltd. for $3.9-billion is not going smoothly. Even with no rival bidder for the coal producer in sight, Rio Tinto continues to have to extend the bid in hopes that more shares trickle in. The latest extension is for three more days, and comes after Rio bumped its bid last week to $16.50 a share (Australian) from $16. Still, Rio doesn't yet have a third of Riversdale's shares.
Issy Sharp explains the toilet phone
Isadore Sharp built Four Seasons Hotels into one of the world's great brands. Now, on its 50th anniversary, he steps back to look at what 50 years in the business has taught him. And, he explains the mystery of the toilet phone.
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