At The Motley Fool, we know our readers like to be informed. Here's a quick look at today's most relevant financial news, boiled down to what you need to know.
Warren Buffett bets on technology giant IBM
Berkshire Hathaway (NYS: BRK.A) CEO Warren Buffett said in an interview today that it has spent $10.7 billion to build a 64 million-share position in technology titan IBM (NYS: IBM) . The holding gives Berkshire a 5.5% stake in the company. Berkshire's capital was boosted this year by funds that Goldman Sachs (NYS: GS) and General Electric (NYS: GE) returned after Berkshire bought preferred shares of the companies back in 2008. Read the full story atBloomberg.
VeriFone to buy European payments company
Payments processing company VeriFone Systems (NYS: PAY) is purchasing Point International, despite Europe's debt woes and struggling economies. The $815 million deal requires VeriFone to pay off $230 million of the European company's debt. Read the full story atThe Wall Street Journal.
A new market for J&J's new anticlotting drug
Data presented at the American Heart Association's annual meeting Sunday showed that Johnson & Johnson (NYS: JNJ) and Bayer AG's new drug, Xarelto, reduced the likelihood of death following a heart attack. If approved, the new drug would create a major new market. Read the full story atBusinessweek.
B of A sells more China Construction Bank
In a move to boost its capital, Bank of America (NYS: BAC) , will sell the majority of its remaining interest in China Construction Bank for $6.6 billion in cash to an undisclosed group of investors. Read more atReuters.
That's a wrap
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At the time thisarticle was published Fool contributor Tamara Rutter does not own shares of any of the companies mentioned in this column. Follow her on Twitter @TamaraRutter. The Motley Fool owns shares of Bank of America, Johnson & Johnson, and IBM. Motley Fool newsletter services have recommended buying shares of Johnson & Johnson and Goldman Sachs, as well as creating a diagonal call position in Johnson & Johnson. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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