Berkshire Hathaway profit surges as economy gives Buffett a boost

Dennis Van Tine/AP Berkshire Hathaway reported a 67% jump in second-quarter profit, boosted by a growing economy. Underwriting profit at the Geico auto insurance unit more than quintupled. Berkshire ended June with $ 111.1 billion of cash and equivalents, some of which Buffett could use to repurchase stock under a new policy giving him and […]

Amazon, Berkshire Hathaway, and JPMorgan Are Going to Fix Health Care—Somehow

Amazon, JPMorgan Chase, and Berkshire Hathaway announced on Tuesday that they intend to form a new company that manages health care for their hundreds of thousands of U.S. employees, the idea being that a unified, not-for-profit entity can reduce workers’ expenses. The surprising trio of the nation’s largest online retailer, largest bank by assets, and […]

Healthcare stocks are getting smoked after JPMorgan, Amazon, and Berkshire Hathaway say they’re teaming up to reduce costs for employees

REUTERS/Lucas Jackson Amazon, Berkshire Hathaway, and JPMorgan are teaming up to try to make healthcare more affordable for their US-based employees. Insurance stocks like UnitedHealthcare, Cigna, Anthem and others are deeply in the red early Tuesday after the news hit. Shares of insurance providers, benefits managers, pharmacies and other healthcare cimoabues are getting smoked in […]

Warren Buffett’s Berkshire Hathaway expands its board (BRK.A, BRK.B)

Kevin Lamarque/Reuters Berkshire Hathway expanded its board of directors to 14 members from 12. Gregory E. Abel and Ajit Jain are being added as directors. Warren Buffett and Charlie Munger will retain their positions on the board.   (AP) — Warren Buffett’s Berkshire Hathaway is adding Gregory E. Abel and Ajit Jain as directors, boosting the size […]

Warren Buffett’s Berkshire Hathaway has been outbid for Oncor

REUTERS/Rick Wilking (Reuters) – Sempra Energy said it will buy Oncor for $ 9.45 billion in cash after Energy Future Holdings Corp, which indirectly owns Oncor, abandoned a deal to sell the power transmission company to Warren Buffett’s Berkshire Hathaway Inc. San Diego-based Sempra expects to own about 60 percent of a reorganized Energy Future […]

Warren Buffett’s Berkshire Hathaway is setting its sights on a new target

Mark Wilson/Getty Images Billionaire investor Warren Buffett is setting his sights on a new company. The investment firm he runs, Berkshire Hathaway, is in talks to buy a stake in Latin American reinsurer IRA Brasil Resseguros, according to a Bloomberg News report. The purchase would take place following an initial public offering for the company […]

Warren Buffett’s Berkshire Hathaway is buying an electric-utility giant for $9 billion

Thomson Reuters Berkshire Hathaway Energy said Friday that it agreed to acquire Energy Future Holdings for $ 9 billion in cash, a purchase that would eventually hand it the electric-utility giant Oncor. The deal comes after Energy Future, Oncor’s parent company, filed for bankruptcy protection in 2014 amid the sector’s downturn. Oncor serves electricity to 10 […]

Warren Buffett’s Berkshire Hathaway gives embattled Canadian lender Home Capital a $1.5 billion lifeline

Bill Pugliano/Stringer/Getty Images (Reuters) – Home Capital Group Inc said billionaire Warren Buffett’s Berkshire Hathaway Inc will provide a new C$ 2 billion ($ 1.50 billion) line of credit to its unit Home Trust Co, ending the Canadian lender’s strategic review process. Berkshire will also indirectly buy C$ 400 million of Home Capital‘s common shares […]