The Traderszone Network

Billionaire investing icon Warren Buffett said on Tuesday there are dozens of countries in which his sprawling Berkshire Hathaway Inc (BRKa.N) conglomerate would be interested in buying new businesses. Berkshire earlier this year agreed to acquire a German motorcycle apparel and accessories retailer – a purchase that Buffett described as an advertisement to markets that he is shopping abroad. It was an ad that paid us,” said Buffett, 85, who over the past five decades has built Berkshire Hathaway into one of the world’s most valuable companies.

Yahoo said Tuesday the U.S. Internal Revenue Service (IRS) had denied the company’s request for a private letter ruling on whether the spinoff of its stake in the Chinese e-commerce giant would be considered tax free. Yahoo’s shares fell as much as 15.8 percent after the announcement but they pared their losses later in extended trading and were down about 3 percent. Despite the IRS denial of the letter, Yahoo said the IRS had not concluded the transaction would be taxable.

Aerojet Rocketdyne Holdings Inc (AJRD.N) submitted a $2 cash billion offer to buy United Launch Alliance (ULA), a satellite launch provider jointly held by Lockheed Martin Corp (LMT.N) and Boeing Co (BA.N), sources familiar with the matter said Tuesday, a deal that would further consolidate the space business. Aerojet Rocketdyne board member Warren Lichtenstein, the chairman and chief executive of Steel Partners LLC, approached ULA President Tory Bruno and senior Lockheed and Boeing executives about the bid in early August, the sources said.

Costco Wholesale Corp willfully infringed Tiffany & Co’s trademarks by selling counterfeit diamond engagement rings bearing the luxury retailer’s name and must face a jury trial to assess damages, a U.S. judge ruled on Tuesday. U.S. District Judge Laura Taylor Swain in Manhattan rejected claims by Costco that Tiffany’s trademarks were invalid because they sought to prevent others from using the word “Tiffany” as a generic description of a type of ring setting. Instead, Swain said evidence established that Costco, the largest U.S.

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The annual sales volume of the stores, net of sales expected to be retained in nearby stores and online, is expected to be about $300 million, the company said in a statement. The company, which operates 770 Macy’s stores, said the store closures would be early next year and that it would announce the locations of the affected stores on a later date. Globally, Macy’s operates a total of 885 stores, including Macy’s, Bloomingdale’s and others.

Instagram opened its platform to most advertisers across the globe on Wednesday as the photo-sharing app seeks to make more money and compete with popular rivals such as Snapchat. Ads, previously available only in eight countries, will debut in more than 20 others including Italy, Spain and India, Instagram said. With 300 million monthly active users, Instagram has a key advantage over rivals because parent Facebook Inc’s vast trove of consumer data allows it to target audiences more accurately, a major selling point for advertisers.

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