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Wires

  • 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 wants investors to be wary of the high fees Wall Street routinely charges because of the damage they do to investment returns, and he emphasized his confident outlook in the U.S. economy. Buffett devoted a section of his annual letter to Berkshire Hathaway shareholders Saturday to explaining again the benefits low-cost...

  • 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...

  • Feb 25- Warren Buffett's Berkshire Hathaway Inc on Saturday said fourth-quarter profit rose 15 percent from a year earlier, helped by gains from investments and derivatives. 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...

  • BERKSHIRE'S AVERAGE PURCHASE PRICE FOR APPLE SHARES WAS ABOUT $110.17 PER SHARE, ACCORDING TO ANNUAL REPORT.

  • BUFFETT SAYS VANGUARD GROUP'S JACK BOGLE IS A' HERO' FOR HIS WORK HELPING AMERICAN INVESTORS.

  • NEW YORK, Feb 25- Berkshire Hathaway Inc Chairman Warren Buffett on Saturday offered his latest critique of fund managers, saying that "both large and small 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," said...

  • BUFFETT SAYS HIGH FEES ALLOW FUND MANAGERS TO' REAP OUTSIZED PROFITS, NOT THE CLIENTS'.

  • BUFFETT SAYS' BOTH LARGE AND SMALL INVESTORS SHOULD STICK WITH LOW-COST INDEX FUNDS'.

  • BUFFETT SAYS SOME HIGH-FEE MANAGERS AND SOME AMATEUR INVESTORS ARE' LUCKY OVER SHORT PERIODS'.

  • BUFFETT SAYS HE EXPECTED' ONLY 10 OR SO PROFESSIONS' HIGHLY LIKELY TO OUTPERFORM S&P 500 OVER LONG STRETCHES.

  • BEIJING, Feb 25- Guo Shuqing, who is stepping down as governor of Shandong province to take control of China's banking regulator, returns to Beijing at a decisive moment for the country's financial system following years of breakneck economic growth. For Guo, highly regarded as one of China's most experienced financial services professionals, returning to...

  • The number of demonstrators had dwindled from the thousands who poured into the camp starting in August to oppose the pipeline that critics say threatens the water resources and sacred land of the Standing Rock Sioux Tribe. The 1,170- mile line, built by Energy Transfer Partners LP, will move crude from the shale oilfields of North Dakota to Illinois en route to...

  • WASHINGTON— A draft Republican bill replacing President Barack Obama's health care law would end its Medicaid expansion, scrap fines on people not buying insurance and eliminate taxes on the medical industry and higher earners. The 105- page measure largely tracks talking points that House Speaker Paul Ryan, R- Wis., unveiled last summer and a similar outline...

  • OLATHE, Kan.— GPS device-maker Garmin long has revered diversity in its workforce, even when the locale of its ever-sprawling operational headquarters— a largely white Kansas City suburb— didn't reflect it. By his wife's account Friday he willingly spent long hours on an aviation systems engineering team alongside Alok Madasani, a friend and colleague also 32...

  • MANILA, Feb 25- Philippine President Rodrigo Duterte's war on drugs had until three weeks ago driven the trade in crystal methamphetamine underground, according to residents and drug users in some of the slum areas of the nation's capital city. But since Duterte ordered the Philippine National Police to stand down from the drugs war last month, after declaring...