BizTechNews

Wells Fargo debacle costs Buffett’s Berkshire $2.5 billion

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Warren Buffett is known for being a patient investor. But even his legendary patience must be getting tested by Wells Fargo (WFC). Buffett’s Berkshire Hathaway (BRKA) has suffered a $2.5 billion loss on its holdings in the bank since Sept. 8, when the Wells Fargo scandal intensified, according to a USA TODAY analysis of data fromS&P Global Market Intelligence. That is when theConsumer Financial Protection ...

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Rieder: Sunday debate crucial for Trump

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You just can’t get good help these days. Donald Trump enthusiast and veteran agent provocateur Roger Stone had assured the worldthat by Wednesday, Trump’s rival Hillary Clintonwould be finished after the latest bombshell fromJulian Assange and WikiLeaks. But all Assange, one of the leading residents of Ecuador’s London  embassy, had on Tuesday was an infomercial for his document-leaking group, and Clinton remains in ...

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Will schizophrenic job market show good side?

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Economists will be looking for this year’s Jekyll-and-Hyde labor market to show its true face Friday when the government releases the September jobs report. They may not get their wish. The job market is being buffeted by so many crosscurrents — including a shrinking pool of unemployed workers, a sluggish economy, uncertainty over the presidential election and even job-counting challenges ...

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IMF cuts forecast for U.S., advanced economies

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The International Monetary Fund on Tuesday cut its forecast for economic growth in the U.S. and other advanced economies while citing increasing risks from isolationist sentiment, but upgraded its outlook for emerging markets. As a result of the offsetting dynamics, the IMF left its global growth estimate unchanged from its July projection at 3.1% this year and 3.4% in 2017 and renewed its ...

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Retail sales expected to be vibrant this year

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With the big shopping season just getting started, one of the most closely watched forecasts for holiday sales is predicting a merry time ahead for traditional retailers — and an even merrier one for online sellers. The National Retail Federation predicted Tuesday that sales will tick up 3.6% overall in November and December to $655.8 billion. That would make it far better than ...

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Twitter to receive bids this week, report says

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SAN FRANCISCO — Twitter will begin receiving acquisition bids this week, people familiar with the matter told the Wall Street Journal. Among the likely bidders is Salesforce.com. CEOMarc Benioff considers Twitter an “unpolished jewel,” people told the newspaper.  Alphabet’s Google and Walt Disney may also bid for Twitter. Twitter declined to comment. Twitter’s steep price tag — $20 billion or more — could make ...

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Bank branches disappear as consumers go online

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PHOENIX — Consumers’ increased willingness to transfer money, make deposits and conduct other business electronically is reducing the number of bank branches nationally. In Arizona, the state counted 1,248 offices run by 66 banks at midyear, according to a tally by the Federal Deposit Insurance Corp. That was down from 1,287 branches one year earlier — a decline of about 3%. The Arizona ...

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Rieder: GOP-leaning papers abandon Trump

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The last time the 148-year-old San Diego Union-Tribune endorsed a Democrat was never. But on Friday, the staunchly Republican Southern California daily broke sharply with its tradition andannounced it was supporting Hillary Clinton for president. Describing her Republican rival, Donald Trump as “vengeful, dishonest and impulsive,” the paper, long-owned by the conservative Copley family and now belonging to Tronc (formerly ...

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Chip-enabled credit cards mark a bittersweet 1-year anniversary

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One year after the U.S. reached a milestone in its switch to credit cards that require a dip instead of a swipe, the ability to use such cards has dramatically increased. But potential headaches loom heading into the holiday season, with some shoppers complaining that checking out with a chip takes too long and stores continuing to encounter delays getting chip-reading terminals ...

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The top money mistakes college freshmen make

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Navigating college life as a freshman is tricky enough. Add on the first taste of financial freedom, and many students are bound to stumble. For incoming students, college means a slew of new responsibilities. There’s getting used to course work, classes and making new friends. Campus life also marks the beginning of financial independence. With that comes many opportunities for ...

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