Warren Buffett

Warren Buffett’s firm buys big stake in retail credit card issuer while dumping shares in its former parent, GE; long-awaited update speeds transactions in the digital currency network.

Synchrony completed its spinoff in 2015 from General Electric Co., a company that Warren Buffett helped prop up during the financial crisis.

The world is divided into those who pursue popular decisions that are more likely to fail and those who go against the crowd and end up having the last laugh.

All 34 big banks demonstrate they could survive a severe recession; credit cards emerge as the biggest vulnerability, with a projected $100 billion in losses.

The billionaire investor agreed to buy shares at a deep discount and provide a fresh credit line for the Canadian mortgage company, tapping a formula he used to prop up lenders from Goldman Sachs to Bank of America.

Lending by U.S. banks continued to fall in February after dropping the previous two months despite Trump euphoria; American banks are shifting jobs to Asian countries.