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Wires

  • "It's definitely a hand-off to the states," said economist Douglas Holtz-Eakin, who has reviewed the GOP plans and a recent briefing document for members of Congress. As they returned home during the recent congressional recess, some lawmakers received an earful from people concerned about possible GOP health care changes. "I'm really angry about it," said Vicki...

  • Berkshire bought $5 billion of Bank of America preferred stock carrying a 6 percent dividend, or $300 million annually, in August 2011, when many investors worried about the second-largest U.S. bank's capital needs. In his annual letter to Berkshire shareholders, Buffett said if Bank of America's current 30 cents per share annual dividend rose above 44 cents...

  • DUBAI, Feb 25- The chairman of Dubai Holding, the investment vehicle of the emirate's ruler and a major force in developing the Dubai economy, has resigned to focus on his role in the national government, the conglomerate said on Saturday. As head of Dubai Holding since its founding in 2004, Mohammed Abdullah al-Gergawi came to oversee a $35 billion portfolio of...

  • NEW YORK, Feb 25- Billionaire Warren Buffett, whose stock picks over several decades have turned Berkshire Hathaway Inc into one of the most successful conglomerates, delivered another black eye to the investment industry on Saturday, saying investors should "stick with low-cost index funds." Buffett, whose annual letter is scrutinized by investors who...

  • SAN FRANCISCO— Country singer Willie Nelson, the children of the late reggae icon Bob Marley and comedian Whoopi Goldberg are just a few of the growing number of celebrities publicly jumping into the marijuana industry and eyeing the California pot market, which is expected to explode after voters legalized the recreational use of weed.

  • Feb 25- Warren Buffett on Saturday mounted a forceful and upbeat defense of the prospects for American business, as his Berkshire Hathaway Inc reported a higher quarterly profit though operating income fell. For the fourth quarter, Berkshire's net income rose to $6.29 billion, or $3,823 per Class A share, from $5.48 billion, or $3,333 per share, a year earlier,...

  • BERKSHIRE SAYS AVG PURCHASE PRICE OF SOUTHWEST AIRLINES CO WAS NEARLY $40.67 PER SHARE- ANNUAL REPORT.

  • BERKSHIRE SAYS AVG PURCHASE PRICE FOR ITS DELTA AIR LINES INC WAS NEARLY $41.85 PER SHARE- ANNUAL REPORT.

  • BERKSHIRE SAYS AVG PURCHASE PRICE OF GOLDMAN SACHS GROUP INC WAS NEARLY $57.42 PER SHARE- ANNUAL REPORT.

  • SARAJEVO, Bosnia-Herzegovina— Flooding from a new lake created by a landslide in central Bosnia has shut down one of the country's main highways. That forced the closure of a busy highway connecting the Bosnian capital of Sarajevo with the central town of Zenica. Fahrudin Solak, a Civil Protection official, said emergency crews have redirected drivers to...

  • WASHINGTON, Feb 25- As the U.S. Securities and Exchange Commission gears up for an expected liberalization of the rules that govern how companies raise capital, the commissions lone Democrat on Saturday urged the agency to tread carefully and avoid unduly harming investors. In her first speech since Republican President Donald Trump won the White House, SEC...

  • President Donald Trump's pick to fill a Supreme Court vacancy has heard dozens of workers' rights cases on the U.S. 10th Circuit Court of Appeals. UPS: United Parcel Service worker Carole Strickland accused UPS of sex discrimination and of retaliating against her for taking two weeks of leave under the Family and Medical Leave Act to deal with stress.

  • The case tugs at the heartstrings: A popular Kansas State University professor battles breast cancer, then leukemia. Grace Hwang's lawsuit was one of many employee cases heard by federal appeals court Judge Neil Gorsuch, President Donald Trump's pick for the Supreme Court. The majority opinion he wrote siding with Kansas State is illustrative.

  • Net income rose to $6.29 billion, or $3,823 per Class A share, from $5.48 billion, or $3,333 per share, in the comparable quarter the previous year. Quarterly operating profit fell 6 percent to $4.38 billion, or $2,665 per share, from $4.67 billion, or $2,843 per share. Operating profit rose just 1 percent to $17.58 billion, despite January's $32.1 billion purchase of...

  • OMAHA, Neb.— Warren Buffett's company says fourth-quarter profit improved 15 percent, but most of the gains came from the paper value of Berkshire Hathaway Inc.' s investments and derivative contracts. Berkshire said it earned $6.29 billion, or $2.55 per Class B share. That's up from $5.48 billion, or $3.65 per Class B share.

  • NEW YORK, Feb 25- Billionaire Warren Buffett, whose stock picks over several decades have turned Berkshire Hathaway Inc into one of the most successful conglomerates, delivered another black eye to the investment management industry on Saturday, saying investors should "stick with low-cost index funds." During the financial crisis, Buffett bet a founder of the...

  • OMAHA, Neb.— Billionaire Warren Buffett used his much anticipated annual letter to Berkshire Hathaway shareholders to reiterate his wariness of high Wall Street fees and his positive outlook for the U.S. economy. To prove his point, Buffett recounted the first nine years of a 10- year bet he made that an S&P 500 index fund will outperform a collection of hedge...

  • NEW YORK, Feb 25- Berkshire Hathaway Inc's gain on its investment in Apple Inc. stands at more than $1.6 billion after shares of the iPhone maker surged. The stake of 61.2 million shares was acquired last year for $6.75 billion, an average of about $110.17 apiece, according to the annual report Saturday from Berkshire, which is led by billionaire chairman Warren...

  • Feb 25- Warren Buffett says American business, and thus a basket of stocks, is virtually certain to be worth far more in years ahead. *Buffett says investing deputies Todd Combs and Ted Weschler now each manage more than $10 billion. *Preferred stock into common stock if Bank of America Corp annual dividend rises above $0.44 per share before 2021 from current $0.30...

  • NEW YORK, Feb 25- Berkshire Hathaway Inc Chairman Warren Buffett on Saturday ramped up his criticism of Wall Street, saying investors should "stick with low-cost index funds." "When trillions of dollars are managed by Wall Streeters charging high fees, it will usually be the managers who reap outsized profits, not the clients," Buffett, widely considered one of the...