Buffett is chairman and chief executive officer of Berkshire Hathaway. The publicly traded holding company operates a broad collection of businesses, including insurance (Geico), manufacturing (Clayton Homes), energy (MidAmerican Energy, Lubrizol) and service (NetJets). It also owns stakes in Coca-Cola, American Express, Procter & Gamble and Wells Fargo.
Warren Buffett’s Berkshire Hathaway Inc. reduced its holdings of Energy Future Holdings Corp. debt by a third after the Texas power provider made an interest payment and staved off a bankruptcy filing, according to a person with knowledge of the transaction.
Progressive Corp. Chairman Peter B. Lewis, the billionaire who turned a company founded by his father into one of the biggest U.S. auto insurers and later pushed to legalize marijuana, has died. He was 80.
Stan Druckenmiller, who has one of the best track records in the hedge-fund industry over the past three decades, said he’s betting against shares of International Business Machines Corp. while wagering on younger technology companies such as Amazon.com Inc.
Stan Druckenmiller, who has one of the best track records in the hedge-fund industry over the past three decades, said he’s betting against the shares of International Business Machines Corp. because the company’s business will be replaced by technology such as cloud computing.
Warren Buffett’s NetJets Inc. will employ bigger, more luxurious jets to target increasing demand for its fractional-ownership program in fast-growing East European markets led by Russia, Turkey and Ukraine.