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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Day In a Page

Burgundy, the River Rhone & Provence – MS Swiss Corona - seven nights from £999pp
Lake Maggiore, Orta and the Matterhorn – seven nights from £899pp
Sicily – seven nights from £939pp
Pompeii, Capri and the Bay of Naples - seven nights from £799pp
Istanbul Ephesus & Troy – six nights from £859pp
Mary Rose – two nights from £319pp
Alexander Fury: The designer names to look for at fashion week this season

The big names to look for this fashion week

This week, designers begin to show their spring 2015 collections in New York
Will Self: 'I like Orwell's writing as much as the next talented mediocrity'

'I like Orwell's writing as much as the next talented mediocrity'

Will Self takes aim at Orwell's rules for writing plain English
Meet Afghanistan's middle-class paint-ballers

Meet Afghanistan's middle-class paint-ballers

Toy guns proving a popular diversion in a country flooded with the real thing
Al Pacino wows Venice

Al Pacino wows Venice

Ham among the brilliance as actor premieres two films at festival
Neil Lawson Baker interview: ‘I’ve gained so much from art. It’s only right to give something back’.

Neil Lawson Baker interview

‘I’ve gained so much from art. It’s only right to give something back’.
The other Mugabe who is lining up for the Zimbabwean presidency

The other Mugabe who is lining up for the Zimbabwean presidency

Wife of President Robert Mugabe appears to have her sights set on succeeding her husband
The model of a gadget launch: Cultivate an atmosphere of mystery and excitement to sell stuff people didn't realise they needed

The model for a gadget launch

Cultivate an atmosphere of mystery and excitement to sell stuff people didn't realise they needed
Alice Roberts: She's done pretty well, for a boffin without a beard

She's done pretty well, for a boffin without a beard

Alice Roberts talks about her new book on evolution - and why her early TV work drew flak from (mostly male) colleagues
Get well soon, Joan Rivers - an inspiration, whether she likes it or not

Get well soon, Joan Rivers

She is awful. But she's also wonderful, not in spite of but because of the fact she's forever saying appalling things, argues Ellen E Jones
Doctor Who Into the Dalek review: A classic sci-fi adventure with all the spectacle of a blockbuster

A fresh take on an old foe

Doctor Who Into the Dalek more than compensated for last week's nonsensical offering
Fashion walks away from the celebrity runway show

Fashion walks away from the celebrity runway show

As the collections start, fashion editor Alexander Fury finds video and the internet are proving more attractive
Meet the stars of TV's Wolf Hall... and it's not the cast of the Tudor trilogy

Meet the stars of TV's Wolf Hall...

... and it's not the cast of the Tudor trilogy
Weekend at the Asylum: Europe's biggest steampunk convention heads to Lincoln

Europe's biggest steampunk convention

Jake Wallis Simons discovers how Victorian ray guns and the martial art of biscuit dunking are precisely what the 21st century needs
Don't swallow the tripe – a user's guide to weasel words

Don't swallow the tripe – a user's guide to weasel words

Lying is dangerous and unnecessary. A new book explains the strategies needed to avoid it. John Rentoul on the art of 'uncommunication'
Daddy, who was Richard Attenborough? Was the beloved thespian the last of the cross-generation stars?

Daddy, who was Richard Attenborough?

The atomisation of culture means that few of those we regard as stars are universally loved any more, says DJ Taylor