Warren Buffett

Warren Buffett's Berkshire Hathaway To Permit Activist Group To Present Shareholder Proposal Remotely

Reuters | |

Berkshire Hathaway Inc reversed course on Friday and told an activist group it could present a shareholder proposal remotely for the company’s May 1 annual meeting, in line with renewed guidance from the U.S. securities regulator.

Warren Buffett’s insurance and investment company traditionally draws thousands to its extravagant annual meeting in Omaha but, like many top U.S. corporations during the coronavirus pandemic, had asked investors to log in to the meeting remotely instead of attending in person.

Warren Buffett-Backed Chinese Electrical Vehicle Company BYD Reports 162% Profit Growth

Reuters | |

Chinese electric vehicle maker BYD Co Ltd,, which is backed by billionaire Warren Buffett, on Monday reported a 162% growth in 2020 net profit as it became a major mask maker amid the COVID-19 pandemic.

BYD reported 4.23 billion yuan ($643.75 million) net profit in 2020, up from 1.61 billion yuan in 2019. That compared with a 4.6 billion yuan net profit estimated by 22 analysts, according to Refinitiv data.

Warren Buffett's Berkshire Hathaway Opposes Shareholder Proposals on Climate Change and Diversity

Reuters | |

Warren Buffett’s Berkshire Hathaway Inc on Monday urged the rejection of shareholder proposals that annual reports be produced about its efforts to address climate change and promote diversity and inclusion.

The proposals were disclosed in Berkshire’s annual proxy filing, ahead of the Omaha, Nebraska-based company’s scheduled May 1 annual meeting.

Warren Buffett's Berkshire Hathaway Discloses Major New Investments in Verizon and Chevron

Reuters | |

Warren Buffett’s Berkshire Hathaway Inc on Tuesday announced two major new investments, revealing an $8.6 billion stake in the phone company Verizon Communications Inc and a $4.1 billion stake in oil company Chevron Corp.

The investments were disclosed in a regulatory filing detailing Berkshire’s U.S.-listed stock holdings as of Dec. 31.

Berkshire also disclosed a new $499 million stake in the professional services company Marsh & McLennan Cos.

Warren Buffett Says Congress Must Help Small Businesses; US Is Fighting 'Economic War'

Reuters | |

Warren Buffett said on Tuesday the United States is fighting an “economic war,” and that Congress must step up quickly to help struggling small businesses that have become “collateral damage” in the coronavirus pandemic.

Speaking on CNBC television, the billionaire chairman of Berkshire Hathaway Inc said he hopes Congress provides new stimulus soon, and extends “on a large scale” the popular Paycheck Protection Program, which was established earlier this year to provide loans to the nation’s smallest employers.

Warren Buffett's Berkshire Hathaway Discloses Investments in Four Pharmaceutical Companies

Reuters | |

Warren Buffett’s Berkshire Hathaway Inc said on Monday it has begun investing in the stocks of four large drugmakers, betting on an industry that could benefit when the world begins emerging from the coronavirus pandemic.

In a regulatory filing detailing its U.S.-listed stock holdings as of Sept. 30, Berkshire disclosed $5.7 billion of new healthcare stakes, including more than $1.8 billion each in Abbvie Inc, Bristol-Myers Squibb Co, Merck & Co and $136 million in Pfizer Inc.

Shares of the drugmakers rose in after-hours trading.

The filing signals where Buffett and his portfolio managers Todd Combs and Ted Weschler see value. Buffett normally handles large investments for Berkshire’s $245.3 billion stock portfolio himself.

Warren Buffett's Berkshire Hathaway Posts Strong Investment Gains But Misses on Operating Profit

Reuters | |

Warren Buffett’s Berkshire Hathaway Inc reported lower quarterly operating results on Saturday and said the coronavirus pandemic may cause further damage, even as gains in stocks such as Apple Inc fueled a more than $30 billion overall profit.

Some Berkshire operating businesses have rebounded from their spring depths, and analysts were encouraged that revenue fell just 3% from a year earlier.

But COVID-19, hurricanes and low interest rates hurt profit from insurance businesses, which include the Geico auto insurer, and the Precision Castparts aircraft parts unit projected thousands of additional job losses.

Occidental Petroleum To Pay Next Dividend to Warren Buffett's Berkshire Hathaway in Cash, Not Stock

Reuters | |

Occidental Petroleum Corp said on Monday it will pay a $200 million quarterly dividend to Warren Buffett’s Berkshire Hathaway Inc in cash instead of common stock, even as the company tries to reduce debt following a plunge in oil prices.

In a regulatory filing, Occidental said the payment on its perpetual preferred stock would be made on Oct. 15.

Berkshire bought $10 billion of Occidental preferred stock in August 2019, ...

Berkshire Hathaway's BNSF Names Kathryn Farmer First Woman CEO of Major US Railroad

Reuters | |

BNSF, the railroad unit of Warren Buffett's Berkshire Hathaway Inc, on Monday named Kathryn Farmer as its new chief executive officer, making her the first female CEO of a major U.S. railroad.

Farmer, 50, has worked at BNSF for 28 years, most recently as executive vice president of operations.

She will succeed Carl Ice, who is retiring after 42 years at the company, on Jan. 1, 2021. Both will remain on the railroad’s board of directors.

“Carl has ...

Warren Buffett's Berkshire Hathaway Acquires 5% Stakes in Japan's Top Five Trading Companies

Reuters | |

Berkshire Hathaway Inc said it has acquired slightly more than 5% of the shares in five large Japanese companies, marking a departure for Chairman Warren Buffett as he looks outside the United States to bolster his conglomerate.

In a statement on Sunday, Buffett’s 90th birthday, Berkshire said it acquired its stakes in Itochu Corp, Marubeni Corp, Mitsubishi Corp, Mitsui & Co and Sumitomo Corp over approximately 12 months.

Berkshire said it intends to h...

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