Amsterdam Financial Services Correspondent
Ben's Feed
Apr 26, 2013

Amazon shares sink on growth, valuation concerns

SAN FRANCISCO/NEW YORK, April 26 (Reuters) – Amazon.com
Inc’s stock sank nearly 8 percent on Friday on concerns
about slowing growth at the world’s largest Internet retailer.

Analysts at J.P. Morgan, Credit Suisse and Pacific Crest
Securities lowered their price targets on Amazon shares, citing
the top-line deceleration.

Apr 26, 2013

Amazon’s success formula: move bits instead of boxes

SAN FRANCISCO/NEW YORK, April 26 (Reuters) – Amazon.com Inc
appears to have figured out the secret to being more
profitable: sell less physical stuff.

The company reported slowing revenue growth and offered a
disappointing outlook for this quarter on Thursday, exacerbating
uncertainty about the health of its business beyond the United
States.

Apr 24, 2013

Apple’s cash plan takes heat off Cook, buys him time

April 23 (Reuters) – Tim Cook wants investors to “think
different” about Apple: less as a hyper-growth startup-like
company and more as a mature but robust technology corporation
with the world’s most lucrative dividend.

If Wall Street follows Apple’s famous advertising slogan of
old, it may relieve some of the pressure on Apple’s chief
executive, quiet investors’ grumbling about its recent share
price slide, and buy the company time to do what it says it does
best: come up with and market new products.

Apr 22, 2013

Hospitalized suspect in Boston bombings awaits charges under guard

BOSTON (Reuters) – Federal prosecutors prepared criminal charges on Sunday against an ethnic Chechen suspected in the deadly Boston Marathon bombings as he lay severely wounded, unable to speak and hospitalized under heavy guard two days after his dramatic capture.

Dzhokhar Tsarnaev, 19, who suffered damage to his tongue when shot through the throat before his arrest, was initially under sedation and incapable of being interviewed by investigators, authorities said. He also had been shot in the leg.

Apr 22, 2013

Stricken Boston bomb suspect under guard, awaits charges

BOSTON (Reuters) – Federal prosecutors prepared criminal charges on Sunday against the 19-year-old suspect in the Boston Marathon bombings who was seriously wounded, unable to speak, and under heavy guard at a city hospital two days after his dramatic capture.

Investigators could not interview Dzhokhar Tsarnaev as they searched for clues to what may have driven him and his brother, ethnic Chechens who came to the United States 10 years ago, to plant the bombs, and whether anyone else was involved.

Apr 21, 2013

Surviving Boston Marathon bombing suspect awaits charges

BOSTON (Reuters) – Investigators were seeking a motive for the Boston Marathon bombings and whether others were involved as they awaited a chance on Sunday to interview the surviving ethnic Chechen suspect.

Dzhokhar Tsarnaev, 19, was in a Boston hospital seriously wounded and unable to speak, after he was captured late on Friday at the end of a huge manhunt that shut down Boston.

Apr 20, 2013

Boston Marathon bombing investigation turns to motive

BOSTON (Reuters) – With the surviving suspect in the Boston Marathon bombings lying seriously wounded in a hospital, investigators worked on Saturday to determine a motive and whether the ethnic Chechen brothers accused in the attack acted alone.

Dzhokhar Tsarnaev, 19, was captured late on Friday after a gunfight with police that ended a daylong manhunt and sent waves of relief and jubilation throughout Boston. His brother Tamerlan, 26, was killed on Thursday in a shootout with police.

Apr 17, 2013

Uncertainty surrounds compensation for Boston bomb victims

BOSTON, April 17 (Reuters) – Victims of the Boston Marathon
bombings will eventually win some kind of compensation, but it
is far too early to know how much money there will be, whether
private donors or insurers will provide most of it, and how long
it might take to distribute.

Late on Tuesday, state and city officials said they had
established One Fund Boston, designed as a central source of
compensation for victims. John Hancock, a Boston-based insurer
owned by Manulife Financial Corp, has contributed $1 million in
seed money. Boston law firm Goodwin Procter will run it.

Apr 9, 2013

J.C. Penney board comes under fire for CEO switch

April 9 (Reuters) – The board of J.C. Penney Co Inc
is facing scathing criticism from retail investors and corporate
governance experts after ousting Chief Executive Ron Johnson and
replacing him with his own embattled predecessor, Myron Ullman.

Hours after the switch was announced on Monday, there was at
least one call for the entire board to resign, while others
suggested shareholders might vote out current board members at
the company’s next annual meeting.

Mar 26, 2013

Buffett trades warrants for smaller stake in Goldman

By Ben Berkowitz and Lauren Tara LaCapra

(Reuters) – Warren Buffett has given up his chance to become Goldman Sachs Group Inc’s (GS.N: Quote, Profile, Research) largest shareholder by converting his warrants into a smaller stake in the bank at no additional cost to his Berkshire Hathaway Inc (BRKa.N: Quote, Profile, Research).

Buffett received the warrants as part of a 2008 deal during the depths of the financial crisis, when his investment in Goldman was seen as a vote of confidence in the firm. Under that deal, Berkshire had the right to buy about 43.5 million Goldman shares – or a roughly 9 percent stake – at an exercise price of $115 (75.83 pounds) per share, for $5 billion in total.

    • About Ben

      "Ben Berkowitz covers the insurance industry in New York City. He rejoined Reuters in Amsterdam in May 2009, covering the Dutch banking system and economy. He originally worked for Reuters in Los Angeles and New York from 2001 to 2006 covering everything from video games to oil. In between he was business editor at AOL, head of the editing desk at AP Business News and managing editor of Fidelity.com."
    • More from Ben

    • Follow Ben