News

Shell saves $600m on gas deal with Repsol

Royal Dutch Shell has saved $600m (£362m) on a deal to buy rival Repsol’s liquefied natural gas assets in Trinidad, Peru and Spain. The supermajor had agreed to buy the portfolio for $4.4bn last February, but will now only be spending $3.8bn on Repsol’s LNG work outside of North America.

Buffett lobbies against clampdown on derivatives

Warren Buffett, the man who christened credit derivatives "financial weapons of mass destruction", is lobbying against a proposed clampdown on existing derivatives contracts.

Business Diary: The Sage of Omaha turns rock star

Is there nothing to which Warren Buffett cannot turn his hand? Via Berkshire Hathaway, he holds a stake in US insurer Geico, whose staff traditionally make a video for the annual general meeting. This year that video stars Buffett rocking out and singing a power ballad Geico staff wrote – in bandana and wig, right, he looks remarkably like Axl Rose from Guns N' Roses. Check it out on YouTube.

Business Diary: Honor Blackman seeks equitable settlement

Some good news at last for victims of the Equitable Life scandal still fighting for a better compensation deal. Honor Blackman has agreed to give the campaign her public backing. Let's see if the glamorous actress can do for Equitable Life savers what Joanna Lumley managed for the Gurkhas.

Stephen Foley: Is this the last chapter of the Buffett story?

Outlook: Are we entering the endgame for Warren Buffett's Berkshire Hathaway?

David Prosser: How Buffett was hoist with his own petard

Outlook Those Cadbury shareholders who have expressed their disappointment about the terms on which the company is being bought by Kraft may take some comfort from the remarks made yesterday by Warren Buffett. It appears that Kraft shareholders – Mr Buffett's Berkshire Hathaway is the biggest investor in the US company – aren't entirely happy about this deal either.

Buffett attacks Kraft's £11.9bn tilt at Cadbury

Kraft's largest shareholder, Warren Buffett, condemned the company's proposed £11.9bn takeover of Cadbury as a "bad deal" yesterday, saying he felt "poor" as a result.

Don't let Kraft steal Cadbury, shareholders urged

Dairy Milk firm Cadbury set out its case for independence today as it urged shareholders not to let US giant Kraft "steal your company".

Kraft battles to win over Cadbury shareholders

Just 1.5 per cent of Cadbury shareholders have accepted Kraft's hostile £10.9bn takeover bid, the US food giant admitted yesterday.

Kraft's bid for Cadbury in the balance as Buffett intervenes

US food giant offers more cash but fails to raise value of hostile takeover offer

David Prosser: Kraft raises the stakes

Outlook Kraft's Irene Rosenfeld is clearly set on winning the day at Cadbury. In selling her company's pizza business – one of Kraft's best performers – to finance the offer of more cash to Cadbury investors, she is betting her own future on securing the deal. If she fails, Kraft will be a significantly weaker company and Ms Rosenfeld's position will be threatened.

Facebook restructures, but no IPO

Facebook has created a dual-class stock structure designed to give founder Mark Zuckerberg and other existing shareholders control over the company.

Bullish billionaire Warren Buffett goes shopping for Nestlé and Wal-Mart

As Warren Buffett looks forward to an improving world economy, he is betting on chocolate, energy and discount retailing, at least according to the latest filings to the Securities and Exchange Commission in New York detailing positions taken by his investment holding giant, Berkshire Hathaway, in public companies.

Buffett takes biggest ever punt on US freight railway

Berkshire Hathaway offers $34bn for BNSF

Hamish McRae: Prepare for a period of sullen calm

I find it troubling that people think it better to have a smaller financial industry

David Prosser: Buffett is definitely back

Outlook: Mr Buffett called the bottom of the market at the end of February
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Madonna in her music video for 'Like A Virgin'
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Waitrose will be bringing in more manned tills
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Russia's President Vladimir Putin gives his annual televised question-and-answer session
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Martin Freeman as Lester Nygaard in the TV adaptation of 'Fargo'
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Comedian Lenny Henry is calling for more regulation to support ethnic actors on TV
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The energy drink MosKa was banned for containing a heavy dose of the popular erectile dysfunction Levitra
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The Honesty Policy is a group of anonymous Muslims who believe that the community needs a space to express itself without shame or judgement
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How I brokered a peace deal with Robert Mugabe: Roy Agyemang reveals the delicate diplomacy needed to get Zimbabwe’s President to sit down with the BBC

How I brokered a peace deal with Robert Mugabe

Roy Agyemang reveals the delicate diplomacy needed to get Zimbabwe’s President to sit down with the BBC
Video of British Muslims dancing to Pharrell Williams's hit Happy attacked as 'sinful'

British Muslims's Happy video attacked as 'sinful'

The four-minute clip by Honesty Policy has had more than 300,000 hits on YouTube
Church of England-raised Michael Williams describes the unexpected joys in learning about his family's Jewish faith

Michael Williams: Do as I do, not as I pray

Church of England-raised Williams describes the unexpected joys in learning about his family's Jewish faith
A History of the First World War in 100 moments: A visit to the Front Line by the Prime Minister's wife

A History of the First World War in 100 moments

A visit to the Front Line by the Prime Minister's wife
Comedian Jenny Collier: 'Sexism I experienced on stand-up circuit should be extinct'

Jenny Collier: 'Sexism on stand-up circuit should be extinct'

The comedian's appearance at a show on the eve of International Women's Day was cancelled because they had "too many women" on the bill
Cannes Film Festival: Ken Loach and Mike Leigh to fight it out for the Palme d'Or

Cannes Film Festival

Ken Loach and Mike Leigh to fight it out for the Palme d'Or
The concept album makes surprise top ten return with neolithic opus from Jethro Tull's Ian Anderson

The concept album makes surprise top ten return

Neolithic opus from Jethro Tull's Ian Anderson is unexpected success
Lichen is the surprise new ingredient on fine-dining menus, thanks to our love of Scandinavian and Indian cuisines

Lichen is surprise new ingredient on fine-dining menus

Emily Jupp discovers how it can give a unique, smoky flavour to our cooking
10 best baking books

10 best baking books

Planning a spot of baking this bank holiday weekend? From old favourites to new releases, here’s ten cookbooks for you
Jury still out on Manchester City boss Manuel Pellegrini

Jury still out on Pellegrini

Draw with Sunderland raises questions over Manchester City manager's ability to motivate and unify his players
Ben Stokes: 'Punching lockers isn't way forward'

Ben Stokes: 'Punching lockers isn't way forward'

The all-rounder has been hailed as future star after Ashes debut but incident in Caribbean added to doubts about discipline. Jon Culley meets a man looking to control his emotions
Mark Johnston: First £1 million jackpot spurs him on

Mark Johnston: First £1 million jackpot spurs him on

The most prize money ever at an All-Weather race day is up for grabs at Lingfield on Friday, and the record-breaking trainer tells Jon Freeman how times have changed
Ricky Gervais: 'People are waiting for me to fail. If you think it's awful, then just don't watch it'

Ricky Gervais: 'People are waiting for me to fail'

As the second series of his divisive sitcom 'Derek' hits screens, the comedian tells James Rampton why he'll never bow to the critics who habitually circle his work
Mad Men series 7, TV review: The suits are still sharp, but Don Draper has lost his edge

Mad Men returns for a final fling

The suits are still sharp, but Don Draper has lost his edge
Google finds a lift into space will never get off the ground as there is no material strong enough for a cable from Earth into orbit

Google finds a lift into space will never get off the ground

Technology giant’s scientists say there is no material strong enough for a cable from Earth into orbit