Berkshire Hathaway Inc. reported a 3.8 percent decline in first-quarter profit, as underwriting results declined at insurance businesses and on reduced earnings from Chairman Warren Buffett’s derivatives wagers.
Rajeev Suri, the Nokia Oyj insider responsible for reviving the Finnish company, has plenty of cash, lower costs, and no need to worry about an unprofitable phone business that’s now part of Microsoft Corp. The challenge: sales are still plunging.
Statoil ASA, Norway’s biggest energy company, climbed in Oslo after first-quarter profit beat estimates, helped by higher natural gas prices in the U.S., where record-low temperatures raised demand in markets such as New York, and lower taxes.
BG Group Plc Chief Executive Officer Chris Finlayson resigned after little more than a year in the job as the third-largest U.K. oil and gas producer ditched an output forecast that’s just three months old.