Buffett still undecided in presidential race


Buffett still undecided in presidential race

Warren Buffett said he’s not yet picked a candidate in the presidential race. “I think I’m going to wait and see who gets the nomination,” Buffett said Monday in an interview with CNBC. “Normally, I vote for Democrats. We will see what happens.” Buffett, who runs Berkshire Hathaway Inc., endorsed Hillary Clinton for the 2016 election against now-President Trump, and attended fund-raisers for both Clinton and Barack Obama ahead of the 2008 primaries. The son of a Republican US congressman, Buffett, 89, said he’s a capitalist, not a “card-carrying” Democrat. Democratic candidates vying for the nomination include Vermont Senator Bernie Sanders, who’s gained momentum with victories in Nevada and New Hampshire. While Buffett agrees with Sanders that the country needs to do more for people who are left behind, he doesn’t think that requires dismantling “the golden goose” of capitalism. — BLOOMBERG NEWS



Price at the pump stays the same

The price of gasoline in Massachusetts remains unchanged, but some price fluctuation could be on the horizon, AAA Northeast said Monday. Self-serve, regular is selling for an average of $2.44 per gallon in Massachusetts, the same as last week. That price is is 3 cents lower than the national average but 8 cents per gallon higher than the Bay State price a year ago. AAA found an 83-cent range in prices, from a low of $2.22 for a gallon of regular to a high of $3.05. — ASSOCIATED PRESS


Charles Schwab to buy fixed-income management firm

Charles Schwab Corp. is continuing its buying spree, agreeing to purchase Wasmer, Schroeder & Co., a Naples, Fla.-based fixed-income management firm with $10.5 billion in assets under management. Schwab last year agreed to buy TD Ameritrade Holding Corp. for $26 billion, a purchase expected to close in the second half of 2020. The Wasmer Schroeder purchase will increase the approximately $90 billion in Schwab’s separately managed accounts. Terms of the deal weren’t disclosed in Monday’s announcement.



Gilead stock rises after WHO comment

Gilead Sciences Inc. shares gained Monday after a senior World Health Organization official said the company’s experimental drug may be the best bet to find a treatment for the new coronavirus that’s spreading around the globe. Gilead’s compound, remdesivir, has been rushed into a clinical trial in China, where the illness has infected tens of thousands of people. WHO officials have said results could be available within weeks. — BLOOMBERG NEWS


Supreme Court tosses order to seize assests

The Supreme Court on Monday threw out a court order to seize assets belonging to the Roman Catholic archdiocese of San Juan, Puerto Rico, to pay pension benefits for Catholic school teachers. The justices said in an unsigned opinion that a Puerto Rico court lacked the authority to issue an order to seize $4.7 million of the archdiocese’s assets to cover the pension benefits. — ASSOCIATED PRESS


Canadian police clear blockade that has hurt freight and passenger traffic

Canadian police moved on Monday to clear an indigenous rail blockade in Ontario that has crippled freight and passenger rail traffic in most of eastern Canada for nearly three weeks. Ontario Provincial Police arrested some protesters on Tyendinaga Mohawk territory near Belleville, Ontario, east of Toronto. Demonstrators have set up blockades in British Columbia, Ontario, Alberta, and Quebec in solidarity with opponents of the Coastal GasLink pipeline project that crosses the traditional territory of the Wet’suwet’en First Nation in northwestern British Columbia. Hereditary chiefs of the Wet’suwet’en Nation oppose the work on their traditional territory, despite support from elected councils along the pipeline route. — ASSOCIATED PRESS



FAA orders pilots to receive mentoring and training

US airline pilots will receive mentoring and revamped training under a sweeping new regulation designed to address air-crash revelations in which crews didn’t follow basic rules. The Federal Aviation Administration on Monday published a final regulation designed to improve pilot “professionalism,” more than three years after the rule was proposed. “This final rule will mitigate incidents of unprofessional pilot behavior and reduce pilot errors that can lead to a catastrophic event,” the FAA said in the regulation. The new rules will take effect in 2022 and 2023, FAA said. The rules resulted from fatal crashes more than a decade ago in which pilots didn’t follow basic safety procedures, such as avoiding distracting conversations while preparing to land, the FAA said. — BLOOMBERG NEWS


Huawei unveils folding smartphone

China’s Huawei unveiled its latest folding smartphone Monday and its first such device to be available internationally, competing in a niche category with new models from Samsung and Motorola. The company took the wraps off the new Mate Xs by video instead of a press launch, as the tech show in Spain where it had planned to hold the unveiling was cancelled over worries about the new coronavirus outbreak. Like its predecessor, the Mate X, which only saw limited release in China last year, the display wraps around the phone’s outside when closed and unfolds to a tablet-size eight-inch screen. — ASSOCIATED PRESS


Nissan says plants in Europe could be in trouble

Nissan gave the starkest warning yet on the future of the Japanese group’s car factories in Western Europe, with a plant in the UK threatened by Brexit and another in Spain suffering from a slump in demand. The Sunderland site in England, which makes models that account for the bulk of European sales, remains under a cloud of uncertainty, Gianluca de Ficchy, chairman of Nissan Europe, said Monday in a press conference near Paris. Should Britain fail to reach a free-trade agreement with the European Union, a resulting 10 percent tariff on cars and parts could not only spell the demise of the plant, which sends about three-quarters of its output to the continent, but also of Nissan’s entire European strategy, the executive said. — BLOOMBERG NEWS



Top WeWork executive resigns over romantic relationship with team member

A top WeWork sales executive resigned from the beleaguered co-working company earlier this month during an investigation into his inappropriate workplace conduct, according to people with knowledge of the matter. Grant McGrail, a senior vice president of account sales and strategic alliances, allegedly had a romantic relationship with a member of his team whom he promoted, said the people, who asked not to be identified. After the allegations were raised earlier this month, human resources began an investigation. WeWork was prepared to fire the San Francisco-based executive for cause after completing its probe, but McGrail resigned on Feb. 14, one of the people said. — BLOOMBERG NEWS