(Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) said on Friday it has sold shares of some of the largest U.S. banks, slashing its stakes in Wells Fargo & Co (WFC.N) and JPMorgan Chase & Co (JPM.N) and exiting an investment in Goldman Sachs Group I... More »
LONDON (Reuters) – Global commercial insurance rates rose 19% in the second quarter, driven higher by claims related to COVID-19 and other large losses, insurance broker Marsh said on Monday. The rate rise was the highest since Marsh began its commercial insur... More »
(Reuters) – Insurers are normally great with numbers. But the coronavirus pandemic has them struggling to estimate how many billions of dollars in losses they face, and what the fallout will be for their massive investment portfolios. Executives, lawyers and a... More »
(Reuters) – Geico Corp, part of billionaire Warren Buffett’s Berkshire Hathaway Inc, said on Tuesday it will offer about $2.5 billion of credits to its 19 million auto and motorcycle policyholders, reflecting the decline in driving stemming from the coronaviru... More »
MUNICH/LONDON (Reuters) – Shares in Europe’s insurers fell sharply on Friday after the EU regulator said they should temporarily halt payouts to shareholders during the coronavirus epidemic, although Germany backed Allianz’s decision to go ahead with a dividen... More »
LONDON (Reuters) – Thousands of London’s underwriters took their stamps and fountain pens home last week, which they use to sign insurance contracts, but they won’t need them. Working at home due to the coronavirus lockdown, they have abandoned the normal tool... More »
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Saturday posted a 23% decrease in quarterly operating profit, while soaring prices in stock holdings such as Apple Inc (AAPL.O) enabled the conglomerate to smash its old record for full-year earni... More »
(Reuters) – Warren Buffett on Saturday called on corporate America to make their boards of directors more accountable to shareholders and less beholden to chief executive officers, perhaps by reducing their pay and requiring that they buy more stock. In his an... More »
(Reuters) – Australian insurer Suncorp Group (SUN.AX) said on Thursday it has received since September 2,600 bushfire-related claims worth up to A$345 million ($237.05 million), of which nearly a third was recorded in the first few days of the month. Suncorp o... More »
LONDON/RIYADH (Reuters) – Saudi Aramco is looking to buy insurance against war and terror attacks after a damaging drone and missile attack on some of its oil facilities in September, two sources told Reuters. Aramco, the world’s largest oil company, has been ... More »
SAN FRANCISCO/TOKYO (Reuters) – Silicon Valley data analytics company Palantir Technologies Inc has established a joint venture with Japanese insurance holding company Sompo Holdings Inc that will initially focus on health and cybersecurity clients, Palantir s... More »
LONDON (Reuters) – Big insurance losses from hurricanes, wildfires and other natural disasters over the past two years are set to push reinsurance renewal rates higher in January, ratings agencies said. After falling for several years due to competition and fe... More »
(Reuters) – Canadian property and casualty insurer Intact Financial Corp said on Thursday it agreed to buy The Guarantee Co of North America and Frank Cowan Co for C$1 billion ($750.6 million) in cash from Princeton Holdings Ltd. The deal, expected to close in... More »
(Reuters) – U.S. real estate title insurance company First American Financial Corp said on Friday it had learned of a design defect in one of its production applications that had made possible unauthorized access to customer data. The statement was sent in res... More »
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc said it owned $860.6 million of Amazon.com Inc shares at the end of March, after the billionaire admitted to underestimating the online retailer and its Chief Executive Jeff Bezos. The size of the investment ... More »
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc on Wednesday said a $377 million charge it incurred recently was tied to a solar generation company that U.S. authorities have linked to fraud. Berkshire said in its first-quarter report on Saturday it had in... More »
BEVERLY HILLS, Calif. (Reuters) – An activist hedge fund on Tuesday nominated five directors and urged insurance company Argo Group International Holdings Ltd to cut $100 million in expenses, including corporate jets and housing for its chief executive. Voce C... More »
(Reuters) – Warren Buffett said on Monday his Berkshire Hathaway Inc overpaid in the 2015 merger that created Kraft Heinz Co, but he had no plans to flee the struggling packaged foods company. Buffett spoke four days after Kraft Heinz took a $15.4 billion writ... More »
(Reuters) – The Oracle of Omaha, Warren Buffett, admitted on Monday he knew less than he thought about Oracle Corp, the company overseen by fellow billionaire Larry Ellison. Investors were flummoxed earlier this month when Buffett’s company, Berkshire Hathaway... More »
(Reuters) – Last March, a 103-year-old resident of a Sunrise Senior Living facility in Willowbrook, Illinois, went on a field trip to the movies. Ruth Smith, who used a walker, fell down two concrete steps in the theater and died about six weeks later. Now Smi... More »
(Reuters) – The latest bursts of molten rock, ash and toxic gas from Kilauea Volcano on the Big Island of Hawaii are part of an ever changing and still largely mysterious cycle of eruptions that have been at work for hundreds of thousands of years. Kilauea, on... More »
SAN FRANCISCO (Reuters) – Apple Inc (AAPL.O) was not the only one to leap on a chance to buy its stock at a fat discount last quarter as Warren Buffett stepped in to scoop up an additional 75 million shares for Berkshire Hathaway (BRKa.N) at the same time. Bet... More »
OMAHA, Neb. (Reuters) – Billionaire Warren Buffett has been buying a boatload of Apple Inc shares and on Saturday suggested he would buy even more shares at the right price. At Berkshire Hathaway Inc’s annual shareholder meeting, Buffett credited Apple with de... More »
OMAHA, Neb. (Reuters) – Warren Buffett on Saturday said he hoped a chief executive would be found within a couple of months for the healthcare company being set up by Berkshire Hathaway Inc, Amazon.com Inc and JPMorgan Chase & Co. to lower patient costs. Speak... More »
NEW YORK (Reuters) – Billionaire investor Warren Buffett and Berkshire Hathaway Inc Vice Chairman Charlie Munger are answering five hours of questions from shareholders, journalists and analysts at Berkshire’s annual meeting in Omaha, Nebraska. The weekend kno... More »
OMAHA, Neb. (Reuters) – Billionaire Warren Buffett on Saturday defended his earlier remark that it would be “ridiculous” for the conglomerate not to do business with gun manufacturers, noting that he does not want to impose his political views on Berkshire’s i... More »
OMAHA, Neb. (Reuters) – Warren Buffett said he would be happy if his conglomerate Berkshire Hathaway Inc owned more than 5 percent of Apple Inc’s stock, including if the iPhone maker bought back more of its shares. Buffett made his assessment before tens of th... More »
(Reuters) – Apple Inc’s stock hit an all-time high on Friday after Warren Buffett’s Berkshire Hathaway Inc disclosed it bought an additional 75 million shares of the iPhone maker in the first three months of the year. Buffett’s increased stake, which was confi... More »
(Reuters) – Berkshire Hathaway Inc bought 75 million additional Apple Inc shares in the first three months of the year, CEO Warren Buffett told CNBC on Thursday, aggressively ramping up its bets on the iPhone maker. Buffett’s Apple commitment over the past two... More »
BENGALURU (Reuters) – U.S. fund managers switched recommended global portfolios slightly more in favor of bonds in March, in part on concerns trade barriers between the world’s two biggest economies may escalate to a broader trade war, a Reuters poll found. Wh... More »
FILE PHOTO: A surgery nurse is seen beside the heart beat monitor in the operating theatre of the Unfallkrankenhaus Berlin (UKB) hospital in Berlin, Germany February 29, 2008. REUTERS/Fabrizio Bensch /File Photo LONDON (Reuters) – Drugmakers are racing to scoo... More »
FILE PHOTO: Freight trucks are driven on the Fisher freeway in Detroit, Michigan, U.S., March 27, 2009. REUTERS/Rebecca Cook/File Photo SEATTLE/BOCA RATON, Fla. (Reuters) – The drive for cost cuts and higher margins at U.S. trucking and railroad operators is p... More »
FILE PHOTO: The German share price index, DAX board, is seen at the stock exchange in Frankfurt, Germany, February 23, 2018. REUTERS/Staff/Remote LONDON (Reuters) – European shares traded higher on Monday morning with gains across bourses and sectors as focus ... More »
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. More »
FILE PHOTO: Berkshire Hathaway CEO Warren Buffett waits to play table tennis during the Berkshire Hathaway annual meeting weekend in Omaha, Nebraska, U.S. May 7, 2017. REUTERS/Rick Wilking/File Photo (Reuters) – A giant hurricane, earthquake or other conflagra... More »
FILE PHOTO: Berkshire Hathaway shareholders walk by a video screen at the company’s annual meeting in Omaha, Nebraska, U.S., May 4, 2013. REUTERS/Rick Wilking/File Photo NEW YORK (Reuters) – Billionaire Warren Buffett prodded ordinary investors on Saturday to ... More »
FILE PHOTO: Berkshire Hathaway CEO Warren Buffett talks to reporters prior to the Berkshire annual meeting in Omaha, Nebraska, U.S., May 2, 2015. REUTERS/Rick Wilking/File Photo (Reuters) – Warren Buffett’s Berkshire Hathaway Inc on Saturday reported a record ... More »
FILE PHOTO: Berkshire Hathaway CEO Warren Buffett visits the BNSF booth before the Berkshire Hathaway annual meeting in Omaha, Nebraska, U.S., May 6, 2017. REUTERS/Rick Wilking/File Photo NEW YORK (Reuters) – Below is a selection of comments from Warren Buffet... More »
FILE PHOTO: Berkshire Hathaway CEO Warren Buffett visits the BNSF booth before the Berkshire Hathaway annual meeting in Omaha, Nebraska, U.S., May 6, 2017. REUTERS/Rick Wilking/File Photo NEW YORK (Reuters) – Warren Buffett had a Valentine’s Day surprise for i... More »
Samsung Group heir Jay Y. Lee said on Monday he spent his year in jail on "precious" self-reflection and promised to show a better side in future, after a high court suspended his jail sentence in a corruption scandal and set him free. More »
SEOUL (Reuters) – The lawyer for Samsung Group heir Jay Y. Lee said on Monday his client plans to appeal to the Supreme Court after he was found guilty of some charges by an appeals court, even though his sentence was suspended and he was able to walk free. Th... More »
FILE PHOTO: Berkshire Hathaway shareholders walk by a video screen at the company’s annual meeting in Omaha, Nebraska, U.S., May 4, 2013. REUTERS/Rick Wilking/File Photo (Reuters) – Berkshire Hathaway Inc’s energy unit on Thursday named William Fehrman as its ... More »
FILE PHOTO: Berkshire Hathaway CEO Warren Buffett talks to reporters prior to the Berkshire annual meeting in Omaha, Nebraska, U.S. on May 2, 2015. REUTERS/Rick Wilking/File Photo (Reuters) – Berkshire Hathaway Inc on Wednesday promoted two of its top executiv... More »
TOKYO (Reuters) – Property-and-casualty insurer Sompo Holdings Inc (8630.T) has set up a fintech hub in Israel, becoming the first Japanese insurer to do so in a country where it hopes to tap local expertise in digital and cyber-security technologies. Sompo, o... More »
Travelers Cos Inc (TRV.N) plans to stick to its recent growth pace for sales of cyber insurance, which protects businesses against hacking and other liabilities, despite potential to boost it, as the insurer assesses risks in the segment, its head of specialty... More »
Charles Schumer, the top Democrat in the U.S. Senate, called on President Donald Trump on Sunday to name a single official to oversee and coordinate relief efforts in hurricane-ravaged Puerto Rico. More »
Around 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years if the UK is denied access to Europe's single market, according to a Reuters survey of firms employing the bulk of workers in international finance. More »
Around 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years if the UK is denied access to Europe's single market, according to a Reuters survey of firms employing the bulk of workers in international finance. More »
Insurers are counting on real-time technology to help them cut back payouts, from a system warning ships of nearby pirates to an app offering to buy sleepy drivers a coffee on the motorway. More »
Insurers are scrambling to find inspectors in Texas and Florida after fierce hurricanes battered the states one after the other, causing tens of billions of dollars' worth of property damage in less than two weeks. More »
U.S. President Donald Trump called Hurricane Irma "some big monster" as it battered the Florida coast, saying he wanted to go to the state very soon and praising emergency officials for their efforts to protect people. More »
The U.S. Congress started to come to grips on Tuesday with crafting a multibillion-dollar Hurricane Harvey emergency aid package that President Donald Trump suggested could be historically large, without providing specifics. More »
Bankrupt Texas utility Energy Future Holdings will abandon a deal to sell power transmission company Oncor to Warren Buffett's Berkshire Hathaway Inc (BRKa.N) for $9 billion and will accept a $9.45 billion bid for Oncor by Sempra Energy (SRE.N) instead, people... More »
Warren Buffett takes pride in naming his price to buy a company, and not paying a nickel more. But the largest U.S. natural gas distribution utility, an unyielding hedge fund, and a Delaware bankruptcy judge now present one of the biggest challenges to the bil... More »
CIT Bank and Allstate Corp have entered a joint venture to provide loans to middle-market companies across various industries, the bank said in a statement on Monday. More »
Short seller Marc Cohodes, who has bet against the shares of six Canadian-based companies including Valeant Pharmaceuticals International Inc and Home Capital Group Inc, said on Wednesday that he is targeting yet another Canadian firm – Exchange Income Corp. More »
FILE PHOTO – The entry to the Home Capital Group’s headquarters is seen at an office tower in the financial district of Toronto, Ontario, Canada on May 1, 2017. Picture taken using a wide angle lens. REUTERS/Chris Helgren/File Photo Warren Buffett’s Berkshire ... More »
A.M. Best Co affirmed its financial strength rating on American International Group Inc on Tuesday, lifting some uncertainty over the New York-based insurer’s ability to meet its long-term debt obligations, which had unsettled some investors. More »
FILE PHOTO: Berkshire Hathaway CEO Warren Buffett waits to play table tennis during the Berkshire Hathaway annual meeting weekend in Omaha, Nebraska, U.S. May 7, 2017. REUTERS/Rick Wilking/File Photo It has been decades since anyone thought of Warren Buffett’s... More »
Warren Buffett, chairman and CEO of Berkshire Hathaway, speaks at the Fortune’s Most Powerful Women’s Summit in Washington October 13, 2015. REUTERS/Kevin Lamarque/File Photo Wells Fargo & Co’s (WFC.N) largest investor, Warren Buffett, has likely already voted... More »
FILE PHOTO – AIG CEO Peter Hancock speaks during the White House summit on cybersecurity and consumer protection in Palo Alto, California on February 13, 2015. REUTERS/Robert Galbraith/File Photo American International Group Inc’s (AIG.N) board of directors de... More »
Students of the University of Puerto Rico protest as a meeting of the Financial Oversight and Management Board for Puerto Rico is taking place at the Convention Center in San Juan, Puerto Rico March 31, 2017. Picture taken March 31, 2017. REUTERS/Alvin Baez Ba... More »
A group of U.S. state insurance regulators should use New York’s sweeping cyber security rules as a model for how insurers must protect their networks from hackers and when they must disclose cyber events, New York’s financial regulator said on Sunday. More »
A landslide caused by rains from Cyclone Debbie is shoveled off the main road between Napier and Taupo on New Zealand’s North Island, April 5, 2017. SNPA/Sarah Lord/via REUTERS Rescue workers used tractors and boats to evacuate thousands of people at the top o... More »
File photo: Berkshire Hathaway chairman Warren Buffett drinks a can of Cherry Coke at the Berkshire Hathaway annual meeting in Omaha May 1, 2010. REUTERS/Rick Wilking Coca-Cola Co is putting the likeness of Warren Buffett on Cherry Coke cans in China, hoping t... More »
File photo: David Einhorn, founder and president of Greenlight Capital, speaks during the Sohn Investment Conference in New York May 4, 2015. REUTERS/Brendan McDermid Bayliss More »
FILE PHOTO: The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France on February 20, 2017. REUTERS/Pascal Rossignol/File Photo Only two years ago, an outage similar to the one that struck Amazon’s cloud services last month ... More »
FILE PHOTO – Warren Buffett, Chairman, CEO and largest shareholder of Berkshire Hathaway takes part in interviews before a fundraising luncheon for the nonprofit Glide Foundation in New York, U.S. on September 8, 2015. REUTERS/Lucas Jackson/File Photo Warren B... More »
FILE PHOTO – An Apple iPhone 7 and the company logo are seen in this illustration picture taken in Bordeaux, France on February 1, 2017. REUTERS/Regis Duvignau/File Photo Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) is sitting on more than $1.6 billion of ... More »
File Photo: Berkshire Hathaway CEO Warren Buffett plays bridge during the Berkshire annual meeting weekend in Omaha, Nebraska May 3, 2015. REUTERS/Rick Wilking/File Photo Billionaire Warren Buffett, whose stock picks over several decades have enriched generati... More »
A Bank of America logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith Warren Buffett said on Saturday he plans to stick with the shrewd bet that his Berkshire Hathaway Inc (BRKa.N) made on Bank of America Corp (BAC.N), but might event... More »
File Photo: Berkshire Hathaway CEO Warren Buffett plays bridge during the Berkshire annual meeting weekend in Omaha, Nebraska May 3, 2015. REUTERS/Rick Wilking/File Photo Warren Buffett, widely considered one of the world’s best investors, is likely to tout th... More »
Berkshire Hathaway Inc Vice Chairman Charles Munger speaks at the Daily Journal annual meeting in Los Angeles, U.S., February 15, 2017. REUTERS/Lucy Nicholson Charlie Munger, the billionaire vice chairman of Warren Buffett’s Berkshire Hathaway Inc (BRKa.N), sa... More »
Warren Buffett, chairman and CEO of Berkshire Hathaway, smiles before speaking with Bill Gates (not pictured), at Columbia University in New York, U.S., January 27, 2017. REUTERS/Shannon Stapleton Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) was an aggress... More »
The AIG logo is seen at its building in New York’s financial district March 19, 2015. REUTERS/Brendan McDermid American International Group Inc (AIG.N), the largest commercial insurer in the United States and Canada, reported a bigger-than-expected quarterly l... More »
Scott Ozawa brushes his teeth with a Beam toothbrush at his home in Belmont, California, U.S. December 18, 2016. Picture taken December 18, 2016. REUTERS/Noah Berger Twice a day, Scott Ozawa’s Bluetooth-enabled toothbrush tells his dental insurer if he brushed... More »
A man walks past a Fairfax Holdings sign directing shareholders to the meeting, at the annual general meeting for shareholders in Toronto, April 9, 2014. REUTERS/Mark Blinch Toronto-based insurance group Fairfax Financial Holdings Ltd has agreed to buy Swiss i... More »
New York financier Lynn Tilton, (L) founder of private equity firm Patriarch Partners, exits the U.S. District courthouse with her lawyer Randy Mastro (R) in New York City, U.S., November 1, 2016. REUTERS/Brendan McDermid A lawyer for financier Lynn Tilton on ... More »
Warren Buffett, chairman and CEO of Berkshire Hathaway, speaks at the Fortune’s Most Powerful Women’s Summit in Washington October 13, 2015. REUTERS/Kevin Lamarque/File Photo Billionaire investor Warren Buffett defended the stock market’s strength and raised d... More »
The logo of Germany’s largest business bank, Deutsche Bank is seen in front of one of the bank’s office buildings in Frankfurt, Germany, October 27, 2016. REUTERS/Kai Pfaffenbach Deutsche Bank’s (DBKGn.DE) sale of a 20 percent stake in Chinese peer Hua Xia (60... More »
New York financier Lynn Tilton, (L) founder of private equity firm Patriarch Partners, exits the U.S. District courthouse with her lawyer Randy Mastro (R) in New York City, U.S., November 1, 2016. REUTERS/Brendan McDermid Financier Lynn Tilton took the stand o... More »
George Twopointoh, brand ambassador for Genworth, speaks with Ugo Dumont, a volunteer for the Genworth R70i Aging Experience, during a demonstration at the Liberty Science Center in Jersey City, New Jersey in this file photo dated April 5, 2016. REUTERS/Shanno... More »
New York financier Lynn Tilton arrives for an appeal hearing at the U.S. District courthouse in New York, September 16, 2015. REUTERS/Brendan McDermid Financier Lynn Tilton is set to go on trial next week before an administrative law judge on U.S. Securities a... More »
Warren Buffett, Chairman, CEO and largest shareholder of Berkshire Hathaway takes part in interviews before a fundraising luncheon for the nonprofit Glide Foundation in New York September 8, 2015. REUTERS/Lucas Jackson/File Photo Warren Buffett, chairman of Be... More »
A screen displays stock charts while a trader works at his post on the floor at the New York Stock Exchange, May 30, 2013. REUTERS/Brendan McDermid With traditional dividend-paying stocks such as utilities and telecom companies trading near record highs, U.S. ... More »
New York financier Lynn Tilton arrives for an appeal hearing at the U.S. District courthouse in New York, September 16, 2015. REUTERS/Brendan McDermid Lynn Tilton, the New York financier accused by the U.S. Securities and Exchange Commission of defrauding her ... More »
HONG KONG Years of breakneck growth for China’s top insurers has been partly fueled by a splurge on risky investment products that could punch multi-billion-dollar holes in their balance sheets if the slowing economy triggers heavy debt defaults. Industry prem... More »
Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Monday revealed a new stake in Apple Inc (AAPL.O), in a bet that the stock price could rebound after iPhone sales fell for the first time. Berkshire held 9.81 million Apple shares worth about $1.07 billion as... More »
SAN FRANCISCO Warren Buffett struck media gold with a 2012 investment in debt-laden Media General Inc. Now the famed investor may try to reprise that success by supporting a bid for Yahoo Inc’s Internet assets. The Berkshire Hathaway Inc chairman is backing a ... More »
Berkshire Hathaway Inc Chairman Warren Buffett is backing a consortium vying for Yahoo Inc’s internet assets that includes Quicken Loans Inc founder Dan Gilbert, people familiar with the matter said on Friday. While there is no certainty that the consortium wi... More »
WASHINGTON Major carmakers want U.S. auto insurance companies to help persuade millions of American car owners to get recalled vehicles fixed. The new push comes as a U.S. House panel will hold a hearing Thursday on efforts by the National Highway Traffic Safe... More »
Warren Buffett’s Berkshire Hathaway Inc on Saturday said fourth-quarter profit rose 32 percent, helped by improved results in its insurance operations and higher gains from investments and derivatives. Net income rose to $5.48 billion, or $3,333 per Class A sh... More »
NEW YORK Warren Buffett bemoaned the “negative drumbeat” on the U.S. economy from presidential candidates in his annual Berkshire Hathaway Inc shareholder letter on Saturday, saying they are misleading Americans into believing their children will be worse off ... More »
NEW YORK Warren Buffett will release his annual letter to Berkshire Hathaway Inc shareholders after a year when its stock price lagged the broader market by the most since 2009, adding to years of underperformance. The letter, due Saturday, is a must-read on W... More »
TORONTO Prem Watsa, the head of Fairfax Financial Holdings (FFH.TO) and a well known contrarian investor, said on Friday he is concerned about the global economy, pointing to record low bond yields and limited policy levers left in the hands of central bankers... More »
BOSTON U.S. ratings agency Standard & Poor’s warned on Friday it may cut the credit rating of billionaire investor Carl Icahn’s Icahn Enterprises to junk status after the portfolio absorbed heavy commodity sector losses in the last few months. S&P placed its t... More »
NEW YORK/LOS ANGELES Advertisers played it safe and light with the most expensive ever Super Bowl ad slots on Sunday, shunning previous years’ attempts to be outrageous, emotional or thought-provoking. Mountain Dew rolled out a creature made from a puppy, a mo... More »
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