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Wells Fargo branch is seen in the Chicago suburb of Evanston, IllinoisWASHINGTON (Reuters) - Wells Fargo won regulatory approval on Tuesday from federal banking regulators to use its own tailored risk models for determining its capital requirements.
Berkshire Hathaway CEO Warren Buffett listens to a shareholder at the Berkshire-owned Borsheims jewelry store where Buffett was selling jewelry as part of the company annual meeting weekend in OmahaDETROIT (Reuters) - Warren Buffett's Berkshire Hathaway Inc wants to purchase more U.S. auto dealerships to expand the company's automotive dealer venture, Larry Van Tuyl, chairman of Berkshire Hathaway Automotive, told CNBC on Tuesday. Van Tuyl, who appeared on CNBC with Buffett, said that the group will look for high-volume dealerships to add to the 81 dealerships it owns in 10 states. (Reporting by Bernie Woodall; Editing by Meredith Mazzilli)
Ellen Pao speaks to the media after losing her high profile gender discrimination lawsuit against venture capital firm Kleiner, Perkins, Caufield and Byers in San FranciscoBy Dan Levine SAN FRANCISCO (Reuters) - Ellen Pao faces an uphill battle should she choose to appeal her defeat last week in a gender discrimination lawsuit against former employer Kleiner, Perkins, Caufield & Byers, the Silicon Valley venture capital firm. Not only did a San Francisco Superior Court judge side with Pao on some key evidentiary disputes in the run-up to trial, but employers have been highly successful litigating in the California appeals court where Pao's case would land. Conversely, the court - which covers San Francisco and 11 other Northern California counties - handed victory to employers in more than half of the cases they lost in the lower courts, reversing 10 of 18 cases. Pao's lawsuit helped spark a wide-ranging debate about the treatment of women in Silicon Valley, which has continued after a jury last Friday decided she had not proved Kleiner broke the law when it passed her over for promotion.
ISS crew of Kelly of the U.S. and Kornienko and Padalka of Russia walk after donning space suits at the Baikonur cosmodromeBy Irene Klotz CAPE CANAVERAL, Fla (Reuters) - A Russian Soyuz rocket blasted off from the Baikonur Cosmodrome in Kazakhstan on Friday, sending a U.S.-Russia crew to the International Space Station for a year-long flight, a NASA Television broadcast showed. Four Soviet-era cosmonauts lived on the now-defunct Mir space station for a year or longer, but the missions, which concluded in 1999, did not have the sophisticated medical equipment that will be used during International Space Station investigations, NASA said.
U.S. stocks ended down on Tuesday in a retreat from the previous session's sharp rally as energy shares declined and the dollar edged up, but the S&P 500 and Nasdaq registered their ninth straight quarterly rise. The S&P's 500 quarterly winning streak was its longest since 1998, while the Nasdaq's was its longest ever. S&P 500 earnings are expected to have declined by 2.8 percent in the first quarter from a year ago, Thomson Reuters data showed. The Dow Jones industrial average fell 200.19 points, or 1.11 percent, to 17,776.12, the S&P 500 lost 18.35 points, or 0.88 percent, to 2,067.89 and the Nasdaq Composite dropped 46.56 points, or 0.94 percent, to 4,900.88.
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