"If a large city is quickly growing in population while the rental stock is limited, supply can't keep up. Unless construction picks up in these markets, prices start rising."
Jan 23- Union Pacific Corp shares rose 1% after executives at the railroad operator said the U.S.- China trade pact should help reverse slumping volumes. President Trump's tariff tiffs with China and other nations dented everything from soybean to steel shipments at a time when railroads were already grappling with competition from long-haul truckers and...
Union Pacific's operating ratio, a measure of operating expenses as a percentage of revenue and a key metric for Wall Street, fell 1.9 points to 59.7% in the fourth-quarter ended Dec. 31, from a year earlier. The Omaha, Nebraska- based company's net quarterly income fell to $1.40 billion, or $2.02 per share, from $1.55 billion, or $2.12 per share, a year earlier.
Jan 23- U.S. railroad operator Union Pacific Corp reported a nearly 10% drop in quarterly profit, as freight volumes of agricultural products and energy shipments fell. The Omaha, Nebraska- based company's net income fell to $1.40 billion, or $2.02 per share, in the fourth-quarter ended Dec. 31, from $1.55 billion, or $2.12 per share, a year earlier.
One of Warren Buffett's biggest investment mistakes, IBM, played out over an agonizing seven-year stretch this decade. But in the end, he rotated into Apple for a lucrative ride.
Dec 23- Geico, the auto insurer owned by Berkshire Hathaway Inc, on Monday named Todd Combs as its chief executive officer, expanding the role of one of Warren Buffett's portfolio managers, who is widely seen as a potential Buffett successor. Combs, 48, will take over on Jan. 1, 2020, replacing Bill Roberts, a 35- year Geico veteran who became CEO in June 2018 and will...
Dec 23- Geico, the auto insurer owned by Berkshire Hathaway Inc, on Monday named Todd Combs, one of Warren Buffett's portfolio managers, as its chief executive officer, adding new responsibilities for a man widely seen as a potential successor to Buffett. "That's an awful lot of work for one person," said Meyer Shields, a Keefe, Bruyette& Woods analyst with a "market...
Berkshire Hathaway is making some notable moves. CNBC's Leslie Picker reports.
Nov 2- Berkshire Hathaway Inc on Saturday said its quarterly operating profit rose more than analysts expected, as growth in several business lines offset the drag from trade tensions and tariffs and billionaire Warren Buffett's inability to deploy the conglomerate's cash. "There is a growing frustration among investors that the cash hoard is not being...
The Omaha, Nebraska- based conglomerate operates more than 90 businesses including the Geico auto insurer, BNSF railroad, Dairy Queen ice cream, Fruit of the Loom underwear, and its namesake energy company and real estate brokerage. Berkshire said third-quarter operating income rose to $7.86 billion, or roughly $4,816 per Class A share, from $6.88 billion, or...
CALGARY, Alberta Oct 15- BHE Canada, a unit of billionaire Warren Buffet's Berkshire Hathaway Energy, will start construction on a $200 million wind farm in southeast Alberta next year, the company said on Tuesday. Alberta is the heartland of Canada's oil and gas industry but the wind and solar energy sector has been growing in recent years, helped by the previous...
Sept 24- Six U.S. life insurers have agreed to pay a total of $1.83 million for improperly causing customers to switch their existing annuities to a different type that generated less income, New York State's financial regulator said on Tuesday. The insurers will collectively return a total of $1.15 million to New York customers and pay $673,000 in penalties,...
WASHINGTON, Sept 19- A Chinese delegation will visit American farm regions with U.S. officials next week in an effort to build goodwill amid ongoing trade negotiations, U.S. CNBC reported earlier on Thursday that the delegation, led by Vice Minister for Agriculture Qu Dongyu, would meet with agricultural producers and was planning visits to Bozeman, Montana and...
The 2nd U.S. Circuit Court of Appeals in Manhattan said Rich's parents, Joel and Mary Rich, could sue Fox News for causing emotional distress by publishing a May 16, 2017, article claiming their son had leaked DNC emails to WikiLeaks, implying that the leaks were related to his death. Fox News, a unit of Fox Corp, retracted the article a week later, saying it fell short of...
The 2nd U.S. Circuit Court of Appeals in Manhattan said Rich's parents, Joel and Mary Rich, could sue Fox News for causing emotional distress by publishing a May 16, 2017, article claiming their son had leaked DNC emails to WikiLeaks, implying that the leaks were related to his death. Fox News, a unit of Fox Corp, retracted the article a week later, saying it fell short of...
Federal Reserve Board unveiled a proposal on Friday that would establish requirements for insurance companies it oversees to set aside capital. The proposed framework would apply to eight U.S. depository institution holding companies that are also "significantly engaged in insurance activities," the Fed said in a statement. The eight insurers include USAA,...
NEW YORK/ LOS ANGELES, June 19- Union Pacific Corp's chief executive said another round of tariffs on Chinese goods could badly hurt his railroad and the U.S. economy, but he feels U.S. CEO Lance Fritz listed trade as one of the reasons the company has taken a more negative tone in its growth outlook. The Omaha, Nebraska- based company's rail network covers 32,000 route...
CNBC's Leslie Picker reports on what the stock picks of the world's biggest investors.
"This country has done an incredible job in terms of the deployment of resources and human ingenuity," says the Berkshire Hathaway chief.
Lawrence Cunningham, professor at George Washington University Law School, and Doug Cohen, Berkshire shareholder and portfolio manager at Athena Capital Advisors, join "Squawk on the Street" after CNBC's interview with Warren Buffett to discuss what makes his company so compelling.
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