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With $116 billion cash, Buffett says Berkshire needs 'huge' deals

NEW YORK Warren Buffett on Saturday lamented his inability to find big companies to buy and said his goal is to make "one or more huge acquisitions" of non-insurance businesses to bolster results at his conglomerate Berkshire Hathaway Inc. | Video

Recent Business News

ECB pulls the plug on Latvia's failing ABLV Bank

FRANKFURT/RIGA Latvia's ABLV Bank is failing or likely to fail and will be wound up as saving it is not in the public interest, the European Union's Single Resolution Board and the European Central Bank (ECB) said separately on Saturday.

11:51am EST

China's Geely makes $9 billion Daimler bet against tech 'invaders'

BEIJING/FRANKFURT Chinese carmaker Geely [GEELY.UL] has built up an almost 10 percent stake in Daimler in a $9 billion bet by its chairman that he can access the Mercedes-Benz owner's technology in the growing battle for the future of automotives.

2:47pm EST

EIB investigates loans to Daimler in light of diesel questions: Welt

FRANKFURT The European Investment Bank may ask Daimler to pay back loans extended for research and development in light of a report linking the Mercedes maker to diesel emission-test cheating, Welt am Sonntag reported.

6:35pm EST

China cuts banking red tape to rally foreign investment - Xinhua

BEIJING China's banking regulator has introduced steps to cut the red tape for foreign banks, state media agency Xinhua said on Saturday, as part of the government's ongoing effort to promote investment in the country's fast-growing financial sector.

8:52am EST

Chile president-elect plans to add more Codelco management: paper

SANTIAGO Chile's President-elect Sebastian Pinera plans to create two new management units at the world's largest copper producer, state-run Codelco, to improve operations, his pick for mining minister told local paper La Tercera on Saturday.

10:39am EST

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