By
Tamara Rutter
|
More Articles
November 14, 2011
|
At The Motley Fool, we know our readers like to be informed. Here's a quick look at today's most relevant financial news, boiled down to what you need to know.
Warren Buffett bets on technology giant IBM
Berkshire Hathaway (NYSE: BRK-A ) CEO Warren Buffett said in an interview today that it has spent $10.7 billion to build a 64 million share position in technology titan IBM (NYSE: IBM ) . The holding gives Berkshire a 5.5% stake in the company. Berkshire's capital was boosted this year by funds that Goldman Sachs (NYSE: GS ) and General Electric (NYSE: GE ) returned after Berkshire bought preferred shares of the companies back in 2008. Read the full story at Bloomberg.
VeriFone to buy European payments company
Payments processing company VeriFone Systems (NYSE: PAY ) is purchasing Point International, despite Europe's debt woes and struggling economies. The $815 million deal requires VeriFone to pay off $230 million of the European company's debt. Read the full story at The Wall Street Journal.
A new market for J&J's new anticlotting drug
Data presented at the American Heart Association's annual meeting Sunday showed that Johnson & Johnson (NYSE: JNJ ) and Bayer AG's new drug, Xarelto, reduced the likelihood of death following a heart attack. If approved, the new drug would create a major new market. Read the full story at BusinessWeek.
B of A sells more China Construction Bank
In a move to boost its capital, Bank of America (NYSE: BAC ) will sell the majority of its remaining interest in China Construction Bank for $6.6 billion in cash to an undisclosed group of investors. Read more at Reuters.
That's a wrap
So there you have it -- the top financial stories for this morning. If you are interested in getting all the news and commentary on these stocks, sign up to My Watchlist here -- it's free!
RSS Headlines
Fool UK