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Wires

  • BERKSHIRE, IN ANNUAL REPORT, SAYS HIGHER LIABILITY ESTIMATE STEMS FROM HIGHER-THAN-EXPECTED LOSS PAYMENTS.

  • BERKSHIRE SAYS THAT IN Q4, IT BOOSTED ULTIMATE CLAIM LIABILITY ESTIMATES RELATED TO AIG RETROACTIVE REINSURANCE AGREEMENT BY ABOUT $1.8 BLN.

  • In his annual letter to Berkshire shareholders, Buffett said finding things to buy at a "sensible purchase price" has become a challenge and is a major reason Berkshire is awash with $116 billion of low-yielding cash and government bonds. Berkshire typically pays all cash for acquisitions. The letter was considerably shorter than in recent years, a little over...

  • NEW YORK, Feb 24- Billionaire Warren Buffett prodded ordinary investors on Saturday to stay invested in U.S. stocks, ignoring price swings, guidance from people with fancy credentials and the temptation to load up on bonds. Buffett said it is a "terrible mistake" for investors with long-term horizons- among them, pension funds, college and endowments and...

  • Feb 24- A giant hurricane, earthquake or other conflagration inflicting unprecedented, catastrophic damage is likely at some point to strike the United States. Warren Buffett says: Bring it on. In his annual letter to shareholders of Berkshire Hathaway Inc, Buffett said "no company comes close" to his conglomerate in its ability to financially withstand even a...

  • FRANKFURT/ RIGA, Feb 24- Latvia's ABLV Bank is failing or likely to fail and will be wound up as saving it is not in the public interest, the European Union's Single Resolution Board and the European Central Bank said separately on Saturday. Privately held ABLV, Latvia's third-biggest bank, has been in focus since U.S. authorities accused it of covering up money...

  • PANAMA CITY— One of President Donald Trump's family businesses is battling an effort to physically evict its team of executives from a luxury hotel in Panama where they manage operations, and police have been called to keep the peace, The Associated Press has learned. Representatives of the hotel owners' association formally sought to fire Trump's management...

  • NEW YORK— The Latest on backlash against the National Rifle Association in the wake of a deadly school shooting in Florida:. Delta and United Airlines are cutting ties with the National Rifle Association, the latest in major companies to do so following the deadly shooting at a Florida high school earlier this month. Blackrock Inc. is among the largest...

  • NEW YORK— United and Delta join growing list of companies in backlash against NRA.

  • FRANKFURT, Feb 24- Norway's $1 trillion sovereign wealth fund, the world's biggest, wants to invest in German medium-sized private companies if the Norwegian government allows it to do so this year, its head Yngve Slyngstad told German magazine Focus. "There are many successful medium-sized companies in Germany that are not listed. Slyngstad was also asked...

  • MILAN, Feb 24- Salvatore Ferragamo's creative director Paul Andrew made his debut on Saturday with a soft, elegant collection, giving a contemporary twist to the luxury group's identity. Andrew became creative director of the Florence- based company in October after just over a year as design director for women's footwear, a mainstay for the brand whose shoes...

  • ATHENS, Feb 24- Greek banks need to do more to reduce their very high stock of non-performing loans, the European Central Bank's chief supervisor Daniele Nouy was reported as saying in an interview published by To Vima newspaper on Saturday. Banks have agreed with European Central Bank regulators to shrink NPEs by about 40 percent by end-2019.

  • MILAN, Feb 24- Italian luxury brand Fay, part of the Tod's group, showcased its first collection under new designer Arthur Arbesser on Saturday at Milan's Fashion Week. The Austrian designer joined in September following the departure of Tommaso Aquilano and Roberto Rimondi after six years at Fay, part of a general rethink of strategy aimed at increasing sales.

  • BERLIN, Feb 24- Germany's government, which has steadfastly opposed barring heavily-polluting diesel cars from cities, is working on changes to allow driving bans on certain routes on an emergency basis, documents seen by Reuters showed. Junior transport minister Norbert Barthle, a conservative, disclosed the shift in a reply to a parliamentary question by...

  • BEIJING, Feb 24- China reacted with anger on Saturday to new U.S. sanctions aimed at increasing pressure on nuclear-equipped North Korea, saying the unilateral targeting of Chinese firms and people risked harming cooperation on the problem. The sanctions' targets include a Taiwan passport holder, as well as shipping and energy firms in mainland China, Hong Kong,...

  • OMAHA, Neb.— The Latest on investor Warren Buffett's annual letter to Berkshire Hathaway shareholders:. Warren Buffett's annual letter to Berkshire Hathaway shareholders is always well read in the business world, but this year's edition may leave some investors wanting more. Shanahan says it also would have been nice to read Buffett's thoughts on why he is...

  • BUFFETT SAYS BERKSHIRE HATHAWAY HAS $20.96 BLN COST BASIS FOR SHARES OF APPLE, WHICH WERE WORTH $28.21 BLN AT YEAR END-- SHAREHOLDER LETTER.

  • NEW YORK, Feb 24- Warren Buffett on Saturday lamented his inability to find big companies to buy, and said his goal is to make "one or more huge acquisitions" of non-insurance businesses to bolster results at his conglomerate Berkshire Hathaway Inc.. In his annual letter to Berkshire shareholders, Buffett admitted that finding things to buy at a "sensible purchase...

  • Feb 24- Warren Buffett's Berkshire Hathaway Inc on Saturday reported a record quarterly and annual profit, fueled by a big cut in the U.S. corporate income tax rate championed by President Donald Trump. Fourth-quarter net income increased roughly fivefold to $32.55 billion, or $19,790 per Class A share, from $6.29 billion, or $3,823 per share, a year earlier.

  • BEIJING, Feb 24- China's Foreign Ministry said on Saturday it was demanding the United States stop enacting unilateral sanctions against Chinese entities and individuals, after Washington said it was imposing its largest package of sanctions to pressure North Korea. China has lodged "stern representations" with the United States over the sanctions, whose...