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  • 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...

  • OMAHA, Neb.— Investor Warren Buffett says his company delivered another strong year, with $19.9 billion in profits, and he believes Berkshire Hathaway will continue thriving thanks to its collection of "remarkable businesses" and investments. Buffett's annual letter to shareholders was posted online Saturday. This year he reflected on 50 years of leading...

  • NEW YORK, Feb 28- Warren Buffett, in his 50th anniversary letter to shareholders, said on Saturday that Berkshire Hathaway had finally chosen the right person to succeed him.

  • Greek PM accuses Spain, Portugal of anti-Athens "axis" Saturday, 28 Feb 2015 | 8:26 AM ET

    *Spain, Portugal leading "axis of powers" against Athens-PM. ATHENS, Feb 28- Greece's leftist Prime Minister Alexis Tsipras accused Spain and Portugal on Saturday of leading a conservative conspiracy to topple his anti-austerity government, saying they feared their own radical forces before elections this year. "We found opposing us an axis of powers... led by the...

  • MOSCOW, Feb 28- Russian President Vladimir Putin promised the mother of murdered opposition politician Boris Nemtsov on Saturday that everything will be done to find and punish her son's killers, the Kremlin said. Nemtsov, 55, was shot four times in the back near the Kremlin in central Moscow on Friday and sympathisers on Saturday placed flowers at the place...

  • 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...

  • BEIJING, Feb 28- China's central bank cut interest rates on Saturday, just days before the annual meeting of the country's parliament, in the latest effort to support the world's second-largest economy as its momentum slows and deflation risks rise. "The focus of the interest rate cut is to keep real interest rate levels suitable for fundamental trends in...

  • *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...

  • LONDON, Feb 28- John Browne, the former chief executive of BP, will take charge of a $10 billion oil and gas venture backed by Russian billionaire Mikhail Fridman to help it expand internationally through partnerships and acquisitions, the Financial Times reported. Browne told the newspaper he will be appointed executive chairman of L1 Energy on Monday, giving...

  • BEIJING, Feb 28- China's central bank said on Saturday it would cut benchmark interest rates by 25 basis points to 5.35 percent, a widely expected move as the world's second largest economy continues to show signs of weakness despite previous easing measures. "The focus of the interest rate cut is to keep real interest rate levels suitable for fundamental trends...

  • MUMBAI, Feb 28- India on Saturday proposed to merge its commodity market regulator with the capital market watchdog, aiming to strengthen regulation in a move which could help open the commodity futures market to institutional investors. Responding to the measure, shares of Multi Commodity Exchange of India Ltd, India's biggest commodity exchange and its...

  • NEW DELHI, Feb 28- India said it plans tougher punishments including jail terms of up to 10 years for those who hide undeclared cash outside the country and for the banks and advisers who help them, as it tries to bring back illicit billions stashed abroad. Illegal deposits abroad cost India billions of dollars in lost revenue and Prime Minister Narendra Modi's...

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

    BEIJING— China on Saturday cut interest rates for the second time in three months, adding to signs that Chinese leaders are worried that 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 7.4...

  • BEIJING, Feb 28- China's central bank said on Saturday it would cut benchmark interest rates by 25 basis points to 5.35 percent. The People's Bank of China said it would further liberalise interest rates and lift the ceiling for the floating range for the saving rate to 1.3 times the benchmark rate. The central bank said it would cut the benchmark saving rate by 25...

  • Greece seeks negotiations on ECB bond repayment Saturday, 28 Feb 2015 | 5:15 AM ET

    ATHENS, Feb 28- Greece called into question on Saturday a major debt repayment it must make to the European Central Bank this summer, after acknowledging it faces problems in meeting its obligations to international creditors. Finance Minister Yanis Varoufakis said Athens should negotiate with the ECB on 6.7 billion euros in Greek government bonds held by...

  • MUMBAI/ NEW DELHI, Feb 28- India will introduce gold deposit accounts to utilise the 20,000 tonnes available within the country and launch a sovereign gold bond, the finance minister said on Saturday, but kept the import duty at the record 10 percent in a setback for jewellers. "Though stocks of gold in India are estimated to be over 20,000 tonnes, mostly this gold is...

  • MOSCOW, Feb 28- Russia's Investigative Committee is pursuing several lines on inquiry following the murder of opposition politician Boris Nemtsov, including the possibility it was an attempt to destabilise the political situation, Interfax news agency said.

  • *Hikes road and rail investment by $11 bln. NEW DELHI, Feb 28- Indian Finance Minister Arun Jaitley on Saturday unveiled a budget that aims to ramp up growth, aided by a slowed pace of fiscal deficit cuts and a raft of tax measures to put private domestic and foreign capital to work. In his first full-year budget since Prime Minister Narendra Modi's landslide...

  • NEW DELHI, Feb 28- India announced on Saturday a modest 7.9 percent increase in defence spending for the fiscal year starting April 1, suggesting that it will move only gradually with the military's long wish list for fighter jets, ships and artillery. After years of neglect, India is trying to narrow the military gap with China, which has been building up its fleet...

  • NEW DELHI— India's finance minister announced the government's new budget on Saturday, promising a slew of measures that attempt to balance welfare spending with high economic growth and infrastructure development, while vowing to keep a tight control on the fiscal deficit. "The credibility of India's economy has been re-established," Jaitley told...