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BERKSHIRE HATHAWAY INC. announced that it will convert its preferred stock into common shares. As it stands, Berkshire Hathaway would then become Bank of America's largest shareholder. /BLOOMBERG FILE PHOTO/DAVIS TURNER

Buffett about to reap $12 billion profit on Bank of America...

NEW YORK - Warren Buffett’s bet on Bank of America Corp. is about to pay off with a roughly $12 billion windfall. The billionaire plans...
CAPITAL ONE FINANCIAL CORP. was the only one of the 34 major U.S. banks that underwent the annual Federal Reserve stress test that is being required to file a follow-up plan with the central bank. / BLOOMBERG NEWS FILE PHOTO/CRAIG WARGA

Capital One must resubmit plan as 33 banks ace Fed tests

NEW YORK – Capital One Financial Corp. was alone among big U.S. banks in stumbling through the Federal Reserve’s annual stress tests, getting conditional...
JANET YELLEN CHAIR of the U.S. Federal Reserve. /BLOOMBERG FILE PHOTO/ANDREW HARRER

Yellen’s future at Fed resisted by Trump aides wanting new blood

NEW YORK - Federal Reserve Chair Janet Yellen’s candidacy for another term is encountering resistance from some Trump administration advisers who want a new...
JOB SEEKERS SIGN IN at a Job News USA career fair in Overland Park, Kansas, U.S., on Wednesday, March 8, 2017. BLOOMBERG FILE PHOTO/LUKE SHARRETT

U.S. jobless filings at three-week low amid strong labor market

NEW YORK - The United States job market continues to show signs of strength, as the number of Americans filing for unemployment benefits fell...
FERDEAL RESERVE OFFICIALS raised interest rates on Wednesday. /BLOOMBERG FILE PHOTO/ANDREW HARRER

Fed forges on with hike, asset plan amid inflation concern

NEW YORK - Federal Reserve officials forged ahead with an interest-rate increase and additional plans to tighten monetary policy despite growing concerns over weak...
REPORTS OF SLOW INFLATION HAVE the market worried that expected additional rate hikes may not happen this year. A rate hike is still expected to be announced on Wednesday. / BLOOMBERG FILE PHOTO/BRENDAN SMIALOWSKI

Traders’ Fed roadmap is upended as inflation miss rocks markets

NEW YORK - While bond and currency traders still see a  Federal Reserve rate hike Wednesday as all but baked in, the latest disappointing...
PRODUCER-PRICE INDEX remained level in May, reflecting a decline of the price of food and fuel. /COURTESY BLOOMBERG

U.S. wholesale prices little changed in May as fuel settled back

NEW YORK - Wholesale prices were little changed in May from the prior month, reflecting declines in the costs of fuel and food, Labor...
AN EAGLE sculpture stands on the facade of the Marriner S. Eccles Federal Reserve building in Washington, D.C./ BLOOMBERG NEWS PHOTO/ ANDREW HARRER

Fed keeps rates on hold as slowdown in growth deemed temporary

WASHINGTON - Federal Reserve officials left interest rates unchanged while signaling they’ll look past a recent deceleration in U.S. economic growth and stay on...
JANET YELLEN, chair of the U.S. Federal Reserve, arrives to speak at the National Community Reinvestment Coalition conference in Washington, D.C., U.S., on Tuesday, March 28, 2017. /BLOOMBERG NEWS PHOTO/ANDREW HARRER

Yellen may see inflation risk in deficit-busting Trump tax cuts

WASHINGTON - What President Donald Trump giveth to the economy with massive tax cuts, Federal Reserve Chair Janet Yellen may be tempted to taketh...
FEDERAL RESERVE Vice Chairman Stanley Fischer said a recent patch of weak economic data likely won’t throw the U.S. central bank off track for two more interest-rate increases this year.

Fed’s Fischer says two more 2017 hikes still feels right

WASHINGTON - Federal Reserve Vice Chairman Stanley Fischer said a recent patch of weak economic data likely won’t throw the U.S. central bank off...

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