Buffett Re-Examines Reinsurance

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The obscure business of reinsurance has always been one of Warren Buffett’s favorite money makers, but a changing landscape has led his Berkshire Hathaway to adjust its strategy.

Investigators Believe Funds Flowed to Malaysian Leader's Accounts

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Malaysian investigators scrutinizing a government investment fund have traced nearly $700 million of deposits into what investigators believe are the personal bank accounts of Prime Minister Najib Razak, according to documents from a government probe.

Jobs Market Continues Its Fitful Recovery

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After six years of fitful growth, a mixed jobs report for June illustrated how underlying softness continues to beset the U.S. economy. Employers added 223,000 jobs and unemployment fell to 5.3%, but wage growth remains slow and labor-force participation shrank.

Sotheby's Maintains Momentum

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Sotheby’s continued its winning streak in London’s auction market on Wednesday, selling $204 million of contemporary art at its annual summer evening sale.

Vertex's $259,000 Cystic Fibrosis Drug Approved

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Vertex’s cystic-fibrosis drug Orkambi, which treats the most common mutation of the disease, received U.S. regulatory approval on Thursday.

Brazil Antitrust Agency Investigating Banks for Suspected Rate Manipulation

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Brazil’s antitrust agency is investigating banking giants HSBC Holdings PLC, Citigroup Inc., Deutsche Bank AG and others on suspicion of forming a cartel to manipulate the exchange rate of the Brazilian currency, the real.

Low Crude Prices Squeeze Calgary Stampede

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Belt-tightening is hitting one of Western Canada’s most venerable traditions: the Calgary Stampede. With the decline in crude prices, Canadian oil companies have trimmed their sponsorships at the annual rodeo-centered festival.

AIG a Wallflower at Insurer-Merger Dance

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The acquisition of Chubb by ACE likely signals the start of a merger rush for U.S. insurers. AIG isn’t likely to join in.

Intel President James to Leave

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Intel Corp. said President Renée James is stepping down, one of several management changes as CEO Brian Krzanich shakes up the chip maker.

Activism-Defense Specialist Leaving Goldman Sachs

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Activism-defense specialist William Anderson is leaving Goldman Sachs for Evercore Partners, according to people familiar with the matter.

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