BC-Money & Markets Digest
Money & Markets modules for Friday, Nov. 16
The Federal Reserve issues its snapshot of how U.S. industrial production fared last month. Viacom and Helmerich & Payne report quarterly results.
Royal Bank of Scotland and other British bank stocks plunged after the country’s plans for leaving the European Union were thrown into turmoil, raising questions over London’s future as a financial center.
Warren Buffett’s company Berkshire Hathaway dusted off its rarely-used buyback program this summer, repurchasing nearly a billion dollars of its own stock in a signal the famed investor couldn’t find a better use for Berkshire’s more than $100 billion cash reserves.
Royal Bank of Scotland (RBS)
Cisco Systems (CSCO)
J.C. Penney (JCP)
KB Home (KBH)
Berry Global (BERY)
American Funds Global Balanced (GBLAX)
This fund prefers overseas stocks and tends to be defensive. Managers buy stocks that pay dividends or have “compelling ideas,” Morningstar says.
For questions about Money & Markets modules, please contact Greg Keller (212-621-1618). For technical support: contact Todd Balog (816-654-1096). After 6 p.m., contact the AP Business News desk (800-845-8450, ext. 1680) for content questions; 1-800-3AP-STOX for technical support and 212-621-1905 for graphics help. The Money &Markets digest can also be found at www.markets.ap.org.