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  • NEW YORK, Feb 28- In his 50 years at the helm of Berkshire Hathaway Inc, Warren Buffett has transformed a failing textile company into a sprawling conglomerate that has vastly outperformed most of the rest of corporate America. Within 10 to 20 years, Buffett said, Berkshire's girth could require whoever then runs the Omaha, Nebraska- based company to consider steps...

  • NEW YORK, Feb 28- Warren Buffett wants to buy more businesses to add to Berkshire Hathaway Inc's "sprawl," but cautioned it may not keep the company he has run for 50 years from evolving into something rarely used to describe it up until now: average. In his annual letter to shareholders, Buffett on Saturday said Berkshire's huge balance sheet gives him the power to...

  • The U.S. Fish and Wildlife Service is taking comments and data about monarchs through March 2, and a decision on whether to list the monarch as threatened is due in December. Environmentalists say the butterfly's decline— the overwinter population in Mexico reached a low in 2013— has coincided with the rise of St. Louis- based agribusiness giant Monsanto's...

  • HIGHLIGHTS-Warren Buffett's letter to investors Saturday, 28 Feb 2015 | 12:27 PM ET

    NEW YORK, Feb 28- Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday, written with his usual mix of business facts, common-sense advice and showmanship. On lodging for the May 2 annual meeting in Omaha:. Airbnb's services may be especially helpful to shareholders who expect to spend only a single night in Omaha and are aware...

  • Tom Wolf, who ran last year with the backing of environmental groups, will soon be giving a first glimpse at how his administration will approach the powerful Marcellus Shale natural gas industry. Next week, Wolf's Department of Environmental Protection is preparing to release its plans to update various rules over the drilling industry, including how it must...

  • Maine mill joins complaint against Canadian paper maker Saturday, 28 Feb 2015 | 11:59 AM ET

    MADISON, Maine— Madison Paper Industries has joined a Minnesota paper mill seeking higher import duties on a special publishing paper made by a Canadian mill. The Morning Sentinel reports they filed a complaint Thursday with the U.S. International Trade Commission and U.S. Department of Commerce against Port Hawkesbury Paper in Nova Scotia.

  • Buffett says 'sprawl' is good, but may not be good enough Saturday, 28 Feb 2015 | 11:49 AM ET

    NEW YORK, Feb 28- Warren Buffett wants to buy more businesses to add to Berkshire Hathaway Inc's "sprawl," but cautioned it may not keep the company he has run for 50 years from evolving into something rarely used to describe it up until now: average. In his annual letter to shareholders, Buffett on Saturday said Berkshire's huge balance sheet gives him the power to...

  • ATLANTA— Georgia lawmakers may eliminate a tax break for airlines buying jet fuel at the world's busiest airport, setting up a face-off with one of the state's largest employers, Atlanta- based Delta Airlines. Earl Ehrhart would remove the break for all airlines, updating his original proposal to end only Delta's. Ehrhart still bristled this week at the...

  • Moody's downgrades Chicago's rating over pensions Saturday, 28 Feb 2015 | 10:41 AM ET

    CHICAGO— Moody's Investors Service has downgraded Chicago's credit rating to two levels above junk status, citing the city's $20 billion mountain of unfunded pension liabilities. "Regardless of outcome of the legal challenges to pension reforms, we expect Chicago's unfunded pension liabilities— and the costs of servicing those liabilities— to continue to...

  • NEW YORK— Hyundai is recalling about 263,000 cars in the U.S. and Canada because a sensor problem could cause drivers to lose power-assisted steering. The affected cars include model years 2008 to 2010 of Elantras made between June 1, 2008 and April 30, 2010 and Elantra Touring vehicles made between Nov. 1, 2008 and April 30. The recall includes nearly 205,000...

  • DALLAS— Freezing rain that coated parts of Texas and Oklahoma for the second consecutive day left highways slick and forced the cancellation of another 1,000 flights Saturday at Dallas-Fort Worth International Airport, one of the nation's biggest airline hubs. The Saturday chaos was on top of about 600 flights nixed Friday, forcing about 5,000 travelers to...

  • Berkshire Hathaway's 4Q profit declines 17 percent Saturday, 28 Feb 2015 | 9:23 AM ET

    OMAHA, Neb.— Berkshire Hathaway Inc. said Saturday that its fourth quarter profit slid 17 percent because of declines in the paper value of its investments and derivative contracts. Berkshire's quarterly profit declined to $4.16 billion, or $2,529 per Class A share, on $48.3 billion in revenue. Those were $3.96 billion, or $2,412 per share, which is up from $3.78...

  • FairPoint more attractive to buyers with new labor pact Saturday, 28 Feb 2015 | 9:19 AM ET

    PORTLAND, Maine— FairPoint Communications said it needed to bring costs and benefits into sync with competitors in the telecommunications industry. Workers said during a four-month strike in northern New England that the company was positioning itself for potential sale, and a Wall Street analyst said shareholders are pressing for one.

  • Feb 28- Warren Buffett's Berkshire Hathaway Inc on Saturday said fourth-quarter profit declined 17 percent as investment gains declined, but operating results improved. Net income fell to $4.16 billion, or $2,529 per Class A share, from $4.99 billion, or $3,035 per share, a year earlier. Quarterly operating profit rose 5 percent to $3.96 billion, or $2,412 per...

  • Buffett reflects on his firm's success and strength Saturday, 28 Feb 2015 | 8:41 AM ET

    OMAHA, Neb.— Investor Warren Buffett believes his company, Berkshire Hathaway, will continue to thrive for decades thanks to its vast and varied collection of "remarkable businesses" and investments, which will help it withstand challenges in any one sector. Buffett's annual letter to shareholders was posted online Saturday. This year he reflected on 50 years of...

  • Berkshire Hathaway net falls, operating profit rises Saturday, 28 Feb 2015 | 8:08 AM ET

    Feb 28- Warren Buffett's Berkshire Hathaway Inc on Saturday said profit declined 17 percent in the fourth quarter from a year earlier, reflecting lower investment gains, though operating results improved. Net income fell to $4.16 billion, or $2,529 per Class A share, from $4.99 billion, or $3,035 per share, a year earlier. Quarterly operating profit rose 5 percent...

  • *Opposition plan march in Moscow on Sunday. Nemtsov, 55, was shot four times in the back by assailants in a white car as he walked across the bridge over the Moskva River in central Moscow with a Ukrainian woman, who was unhurt, just before midnight on Friday, police said. Police sealed off the blood-stained bridge close to the red walls of the Kremlin and Red Square for...

  • Homeland Security gets one-week funding lifeline Saturday, 28 Feb 2015 | 7:28 AM ET

    Republicans only narrowly manage to avert a partial shutdown of the Department of Homeland Security, the New York Times reports.

  • SANAA, Yemen— A suspected U.S. drone strike Saturday in central Yemen killed three men believed to be al-Qaida militants, security officials said. The U.S. has launched several strikes in recent weeks, reflecting Washington's resolve to keep fighting the militants despite Yemen's political paralysis. Meanwhile Saturday, the Shiite rebels who control Yemen's...

  • China's central bank cuts rates again to boost economy Saturday, 28 Feb 2015 | 5:46 AM ET

    BEIJING— China's central bank cut interest rates for the second time in three months Saturday, adding to signs the country's leaders are worried the economic slowdown is deepening too sharply. The People's Bank of China announced a rate cut on one-year loans by commercial banks by 0.25 percentage point to 5.35 percent. Last year, China's economic growth fell to...