Berkshire Hathaway

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2 Big Names Join Forces in Bid to Buy Yahoo

Quicken Loans founder/Cleveland Cavaliers owner Dan Gilbert and Warren Buffett

(Newser) - The second round of bidding for Yahoo is underway, and a couple of bidders are getting an outsize amount of attention: what the New York Times terms the "unusual" pairing of Quicken Loans founder/Cleveland Cavaliers owner Dan Gilbert and Warren Buffett. (Though maybe not so unusual: CNBC reports the... More »

Buffett: Candidates Wrong About the Economy

They're exaggerating how bad it is, he complains

(Newser) - The US economy is in better shape than the presidential candidates make it seem, investor Warren Buffett said Saturday. In his annual letter to Berkshire Hathaway shareholders, Buffett didn't name specific candidates or issues, but noted that the negative drumbeat about the economy, health care reform, and income inequality... More »

Fatal Crashes Are Surging; Buffett Says He Knows Why

It's not just about more cars on the road, he insists

(Newser) - If automobiles are constantly improving, why are traffic deaths going up? Warren Buffett thinks he knows. Fatal accidents surged 14% in the first half of the year, and one of the consequences of that is that Geico lost money and is now raising insurance premiums. Buffett's Berkshire Hathaway owns... More »

Investigation: Warren Buffett Firm Preys on Poor People

His mobile-home company traps buyers in pricey loans, says Seattle Times piece

(Newser) - Warren Buffett's image as an avuncular business genius who has all-American interests at heart might take a hit after a scathing investigation by the Seattle Times and the Center for Public Integrity . It alleges that Clayton Homes, a giant in the mobile-home industry owned by Buffett's Berkshire Hathaway,... More »

Heinz, Kraft to Become Food Giant

Merger will make them continent's No. 3 food and beverage company

(Newser) - News that might interest those whose favorite pantry staples are ketchup and mac and cheese: Kraft Foods Group Inc. and H.J. Heinz Co. have announced they will merge in a deal that will create the Kraft Heinz Co.—the third largest food and beverage company on the continent... More »

Is Buffett's Firm Dropping Hints About a Successor?

Annual online letter mentions 2 names

(Newser) - Warren Buffett released his annual letter to shareholders today, and the much-anticipated report has the usual good things to say about the future of his Berkshire Hathaway. But given that Buffett is 84 and has been in charge for 50 years now, business types are anxious to hear about a... More »

Buffett Snaps Up Duracell in $3B Deal

Berkshire Hathaway buys battery business from P&G

(Newser) - Warren Buffett's Berkshire Hathaway Inc. is buying Duracell from Procter & Gamble in a deal valued at approximately $3 billion. Berkshire has been a significant P&G shareholder since the consumer products firm acquired Gillette in 2005, but the Duracell acquisition will use nearly all of Berkshire's 52.... More »

Buffett Breaks His Own Donation Record

He slips down rich list with $2.8B giveaway

(Newser) - Warren Buffett has beaten a personal record—and slipped down a place to fourth on the Forbes list of the world's richest people—with a gift of shares worth $2.8 billion to the Bill and Melinda Gates Foundation and several other charities, topping his record $2.6 billion... More »

Warren Buffett Made $10B Saving the Big Banks

Berkshire has made almost 40% on financial crisis buys

(Newser) - In the midst of the financial crisis, pretty much nobody wanted to buy into the big banks—except Warren Buffett. The Berkshire Hathaway maestro bought in big to flailing giants like Goldman Sachs and General Electric. The Wall Street Journal checked in on those investments, and found that so far... More »

Meet Warren Buffett's Righthand Woman, Age 28

Tracy Britt is already one of the most influential woman at Berkshire Hathaway

(Newser) - Prepare to feel inadequate. Tracy Britt is 28 years old. She grew up on a farm in Kansas. And she's one of Warren Buffett's top lieutenants. Four years after she was hired fresh out of Harvard Business School to be Buffett's financial assistant, she is now the... More »

Lunch With Buffett Sells for 'Only' $1M

That's a big drop from his previous charity auctions

(Newser) - The annual charity auction of a private lunch with billionaire investor Warren Buffett went for just more than $1 million—a bargain price compared to past years for an opportunity to sit down with one of the world's most successful philanthropists. An anonymous donor had the high bid of... More »

Buffett Gets 100K Twitter Followers in 2 Hours

Oracle of Omaha joins the club

(Newser) - Warren Buffett has made the day's biggest splash on Twitter with his first-ever tweet at 12:20 declaring that "Warren is in the house," reports TheStreet . Two hours later, he had more than 100,000 followers, with the number growing quickly. It's quite a jump for... More »

Buffett Drops Out of Forbes Top 3 Billionaires

Carlos Slim still richest guy in the world

(Newser) - Forbes' annual list of billionaires is out—and for the first time since 2000, Warren Buffett didn't make the top three. The list has again expanded; now it contains 1,426 names who boast a total net worth of $5.4 trillion, compared to $4.6 trillion last year.... More »

Feds Suspect Insider Trading Related to Heinz Deal

SEC freezes Swiss account that made a huge profit

(Newser) - Some traders made a bundle over the big HJ Heinz acquisition yesterday, and federal regulars suspect insider trading. The SEC obtained a court order today to freeze a brokerage account in Switzerland and prevent the assets from being moved. The account was used for trades placed Wednesday that netted $1.... More »

Buffett and Co. to Buy Heinz

In largest deal in food industry history

(Newser) - An investment group including Warren Buffett has agreed to buy HJ Heinz Co., in what the company says will be the largest deal in food industry history. Shareholders will get $72.50 in cash for each common share, a 20% premium on yesterday's closing price, meaning the deal values... More »

Lunch With Warren Buffett Goes for $3.5M

Charity auction sets record for meal with Berkshire Hathaway chairman

(Newser) - If this is how much lunch costs, one shudders to think of dinner. A private lunch with investor Warren Buffett was sold for $3.5 million yesterday, at a charity auction to help the homeless in San Francisco, reports the AP . While the Glide Foundation has raised $11.5 million... More »

Buffett's Latest Buy: 63 More Newspapers

In $142M deal

(Newser) - Billionaire Warren Buffett's company is making its largest foray into newspapers yet, agreeing to buy 63 papers from Media General Inc. The $142 million deal includes the Richmond Times-Dispatch and the Winston-Salem Journal. The company is selling all its papers except those in Tampa, most importantly the Tampa Tribune.... More »

Buffett Feels 'Terrific' Despite Prostate Cancer

Berkshire shareholders seem to believe him

(Newser) - Warren Buffett insists that he's feeling good after his recent prostate cancer diagnosis. Based on the questions he got at Berkshire Hathaway's annual meeting, shareholders are taking him at his word. Despite the fact that Buffett just disclosed his cancer diagnosis last month, he didn't face the... More »

Berkshire Picks Successor for Warren Buffett

But CEO doesn't plan to step down anytime soon

(Newser) - The big news out of Warren Buffett's annual letter to Berkshire Hathaway shareholders is that he's finally picked a successor, reports the Wall Street Journal . He's just not saying who it is. Buffett, 81, also wrote that he is in "excellent health" and "isn't... More »

Buffett on Stocks: I'm Buying

The lower prices go, the more aggressive he gets

(Newser) - Amid economic uncertainty, how’s Warren Bufftet holding up? “Never been better,” he tells CNNMoney . “The lower things go, the more I buy. We are in the business of buying.” Meanwhile, he says he still sees US treasuries as triple-A, “in that there is no... More »

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