Buffett Hits `Negative Drumbeat'; Clinton Wins SC: Saturday Wrapby
G-20 communique calls on governments to be growth engines
Walt Disney to start surge pricing at its theme parks
Here are highlights of some of the top breaking news stories from around the world on Saturday:
Billionaire Warren Buffett’s much-anticipated annual letter to shareholders of his Berkshire Hathaway Inc. contained the usual corny jokes and references to mass consumption of food that’s bad for you, while decrying the pessimistic tone of U.S. presidential candidates about the economy. Berkshire’s annual earnings set a record. Buffett praised the head of his Burlington Northern Santa Fe railroad for its comeback after a trying 2014, as well as the heads of IBM and American Express, two big Berkshire stock holdings that have struggled.
The communique put out at the end of the G-20 finance ministers’ summit in China focused on the limits of monetary policy and the need for governments to do more to boost growth. It also repeated past pledges not to use currency devaluations as a competitive tool. On the topic of currencies, the finance ministers saw at least as much cause for concern with Japan’s monetary policies as China’s.
Hillary Clinton was declared the winner of the South Carolina Democratic primary for U.S. presidential candidates only seconds after the polls closed. Now it’s on to so-called Super Tuesday, when she has the potential to all but extinguish challenger Bernie Sanders -- and when, on the Republican side, Ted Cruz and Marco Rubio will try to slow the Donald Trump express.
Rubio, meanwhile, released his last five years of tax returns while daring Trump to do the same. Trump has said he can’t release his returns because they’re being audited; former Republican nominee Mitt Romney has speculated the real reason is that there’s a “bombshell” in them.
Walt Disney Co. is going Uber, implementing surge pricing at its theme parks during peak periods while lowering fees on some days at Disneyland in California.
Regeneron Pharmaceuticals Inc.’s Eylea injection was no more effective in treating a severe eye disease than Roche Holding AG’s Lucentis after two years, according to findings from a new study that may not be enough to knock Regeneron off its dominant perch in the field.
Brazil President Dilma Rousseff skipped her own party’s anniversary celebration in favor of extending a state visit to Chile, a measure of her unpopularity.
Some 80,000 Poles took to the streets of Warsaw to support Lech Walesa against government claims that he was a paid informant to the Communist secret police before turning revolutionary hero.
Moderates allied with President Hassan Rouhani almost swept the seats allocated to Tehran in Iran’s parliamentary elections. They were also doing well in a separate vote to elect the body that may choose the next supreme leader. Rouhani called for unification in the cause of promoting economic growth in Iran with nuclear sanctions behind it.
The new cease fire in Syria held, more or less.
The first coalition government involving Ireland’s top two parties may need to take hold after the ruling Fine Gael party got only 25 percent of the votes in Friday’s election.