Archive for April, 2011
Buffett admits error, says Sokol events inexcusable
By Ben Berkowitz OMAHA, Nebraska (Reuters) – Warren Buffett said he was wrong not to press David Sokol about purchases of Lubrizol Corp stock while his former top lieutenant was pitching the chemicals company as a possible takeover target for Berkshire Hathaway Inc. It was the kind of answer investors had clamored to hear from [...]
Buffett says he’s held back on good Microsoft deal
OMAHA, April 30 (Reuters) – Microsoft Corp is a value play at current levels but Berkshire Hathaway considers itself restricted from buying the stock due to close ties with founder Bill Gates, Berkshire Chief Executive Warren Buffett said on Saturday. In an interview with Reuters Insider on Saturday, Buffett also said Standard & Poor’s was [...]
Buffett made Sokol a scapegoat-Sokol’s lawyer
By Ben Berkowitz and Jonathan Stempel OMAHA, Neb./NEW YORK (Reuters) – David Sokol fired back at Warren Buffett, with his lawyer saying the one-time Berkshire Hathaway Inc executive had been made a scapegoat over a transaction that led to his sudden resignation. Sokol, who chaired Berkshire’s MidAmerican Energy unit, ran its NetJets plane leasing unit [...]
Buffett admits error in Sokol affair
By Ben Berkowitz OMAHA, Nebraska (Reuters) – Warren Buffett said he had made a mistake by not asking more about David Sokol’s purchases of Lubrizol Corp stock while his former top lieutenant was pitching the chemicals company as a possible takeover target for Berkshire Hathaway Inc. Sokol was widely considered a leading candidate to succeed [...]
Royal couple delay honeymoon after lavish wedding
By Olesya Dmitracova LONDON (Reuters) – Following a spectacular Royal Wedding that dazzled the world, Prince William will go back to work as a search-and-rescue pilot next week before taking his new wife on honeymoon abroad. The new Duke and Duchess of Cambridge, looking fresh after partying into the early hours in the wake of [...]
Argentina to grow more than 6.5 pct in 2011-cenbank
BUENOS AIRES (Reuters) – Argentina’s central bank sees economic growth topping 6.5 percent this year, raising its outlook from 6 percent in January, according to a quarterly report released late Friday. The central bank said robust domestic demand would keep fueling the expansion in Latin America’s No. 3 economy. It said growth so far this [...]
Buffett downplays chance of Berkshire dividend
By Ben Berkowitz OMAHA, Nebraska (Reuters) – Berkshire Hathaway Chief Executive Warren Buffett downplayed on Saturday the idea of a first-ever dividend for shareholders, as he opened his conglomerate’s annual meeting for tens of thousands of people. Berkshire, which some estimate will have a cash pile of $50 billion by the end of this year, [...]
Insurance to drag on Berkshire Q1 results
OMAHA, Nebraska (Reuters) – Berkshire Hathaway Inc <BRKa.N> <BRKb.N> will report a significantly lower first-quarter profit, as one of the worst quarters ever for global catastrophes weighed on the company’s insurance businesses, Chief Executive Warren Buffett said on Saturday. Profit is expected to be about $1.5 billion, down from $3.63 billion a year earlier, Buffett [...]
Buffett: My successor will be a straight arrow
OMAHA, Neb. (Reuters) – With David Sokol no longer in the running to be his successor, Warren Buffett said on Saturday he expects whoever follows him as chief executive of Berkshire Hathaway Inc will be “as straight as an arrow.” Sokol was widely considered a top candidate to succeed Buffett as Berkshire’s chief executive. But [...]
Renren IPO appetite seen huge but red flags abound
By Melanie Lee and Clare Baldwin SHANGHAI/NEW YORK, (Reuters) – When Chinese social networking site Renren goes public next week, investors will likely ignore big risks the company faces, and be lured instead by a combination of the words “China” and “social networking.” Hot Chinese tech companies like Internet search engine Baidu Inc and online [...]
