Buffett Adds 'Bear' to Berkshire Panel

Warren Buffett added Doug Kass, a hedge-fund manager who is selling Berkshire Hathaway short, to the panel of analysts who participate in the company's annual meeting.

Stocks Creep Toward Record

The Dow Jones Industrial Average rose 38.16 points, or 0.3%, to 14127.82, ending with its second-highest finish ever. The blue chips now sit just 37 points below the record.

FDA Panel Rejects Two Proposed Menopause Drugs

A federal advisory panel Monday rejected two proposed menopause drugs designed to reduce the frequency and severity of hot flashes primarily on concerns the medicines didn't appear effective.

Theft Threatens Nigeria Oil Pipeline

Nigeria's oil industry is at a crisis point because the theft of oil from pipelines is reaching an intolerable level, costing the country and oil companies billions of dollars a year, the head of Shell's Nigerian operations said.

Hess to Whittle Down

Hess said it is further whittling its operations to become a pure exploration-and-production concern. But the move failed to satisfy a rebellious shareholder.

Swiss Back Executive-Pay Curbs

Swiss voters backed a plan giving shareholders sweeping authority over executive pay, in a move aimed at curbing what is seen as excessive remuneration levels.

Bond Pricing Service Shutting Down

Bond-pricing data provider Benchmark Solutions is winding down operations after losing support from private-equity backer Warburg Pincus.

China Moves to Temper Growth

China set a growth target of around 7.5% for this year as it kicked off a meeting to finalize its leadership transition, reflecting Beijing's tamped-down ambitions for growth. The move followed a government strike at once-again-surging property prices.

HSBC Misses Profitability Targets

HSBC said it would keep looking for ways to cut costs, after it missed key performance targets amid a weak European economy and high regulatory charges.

Vornado Slashes Penney Stake

Vornado Realty Trust moved to dump much of its holdings in department store chain J.C. Penney Co., cutting its losses on a drastic and failing turnaround the activist investor helped spark.

Wegelin to Pay U.S. $74 Million

The oldest Swiss bank will pay the penalty after admitting it turned a blind eye to tax evasion by American customers.

New-Orders Index Is the Signal to Watch

Ahead of the Tape: Tuesday's ISM nonmanufacturing report may provide an important all-clear for the U.S. economy. But another sharp drop in its most forward-looking component, the new-orders index, would be an ominous sign.

Paramount Gets Back Into TV

Viacom said its Paramount Pictures is getting back into TV production, a business it ceded to its sibling company CBS Corp. in the 2005 split.

Japan Auto Makers Post Lower China Sales

Japanese auto makers posted falling China sales in the first two months of 2013, but the impact of a territorial dispute between the two sides appears to be leveling off.

BOJ Picks Vow Deflation Action

Two of the top figures set to take the helm of the Bank of Japan in a few weeks said the central bank should be at the center of efforts to overcome deflation.

SEC Official in Talks With Prudential About Job

A top Securities and Exchange Commission lawyer who oversees enforcement of hedge funds and mutual funds is in talks to leave the regulator for job with Prudential Financial, the insurance and asset-management firm.

Malaysia's Genting to Buy Vegas's Echelon

Malaysia's Genting Group agreed to purchase Boyd Gaming's Echelon project in Las Vegas, upending assumptions that flashy casinos wouldn't be built in the city for at least a decade.

GM Executive Defends Keeping Opel

GM's vice chairman said the auto maker's decision to quash a sale of its Opel unit three years ago and keep the ailing business was correct.

European Markets Retreat

European stock markets kicked off the week on a downbeat note, as a continuing U.S. budget battle weighed on sentiment and mining firms slumped on the back of efforts by Chinese authorities to cool property prices.

JetBlue Aims to Expand Partnership With American

JetBlue Airways, which has a relationship in which it feeds its passengers to some American Airlines international flights, wants to expand and deepen that partnership later this year, the airline's CEO said.