Greg Abel, who helped build Berkshire Hathaway Inc.’s utility business MidAmerican Energy Holdings Co., is showing that he’s earned the trust of his boss, Warren Buffett, after striking a $5.6 billion deal for NV Energy Inc.
This weekend, 40,000 or so Berkshire Hathaway shareholders gathering in Omaha for the conglomerate’s annual meeting will spend plenty of time strolling through the mall of Buffett: a 194,300 square foot retail space set up to ply sundry products produced by Berkshire’s subsidiaries, including See’s Candies, Justin Brands western boots and Quickut (Ginsu) knives.
Warren Buffett, the self-made billionaire and son of a former Republican congressman, has widened the rift with his father’s party by pressing for tax increases on the wealthy and reinforcing ties with President Barack Obama.
Apple Inc. will pay its first dividend in 17 years and buy back $10 billion in stock, heeding investors who urged it to return part of the $97.6 billion in cash amassed by robust demand for iPhones and iPads.
Apple Inc. plunged the most in more than four years after posting the slowest profit growth since 2003 and the weakest sales increase in 14 quarters, fueling concern that mounting costs and competition may curtail growth.