Companies lack money for old-style share buy-backs

The buyback is running out of steam as the engine that helps keep the US stock market moving forward. While it is still a popular strategy, particularly with more traditional companies now out of favour in the tech-driven boom, it is doing little to attract investors. What was once an activity that led to a rewarding hike in share price is now considered the norm. As ever there is a long list of large US companies announcing their intention to buyback their own shares. Anheuser-Busch, makers of Budweiser beer, Avon Products, multi-media company Gannet, pharmaceutical giant Merck and Wells...