Warren Buffett's firm reports $12.8 billion loss as investments fall but its insurers performed well
Saturday, 4 November 2023 Warren Buffett's Berkshire Hathaway reported a $12.8 billion loss in the third quarter due to the decrease in the paper value of its investments. However, the company's owned subsidiaries, particularly the insurers, performed well. Despite the investment losses being unrealized, Berkshire's operating profit rose by nearly 41% to $10.8 billion. The insurance unit benefited from low losses related to major catastrophes. Berkshire repurchased $1.1 billion of its own stock in the quarter, but Buffett has not made any major investments or acquisitions this year.
GM Outlines , $10 Billion Stock Buyback.
On Nov. 29, General Motors (GM) said that the recent UAW strike deal will cost the company $9.3 billion. .
The company also said it would initiate $10..
Credit: Wibbitz Top Stories Duration: 01:30Published
Warren Buffett's trusted confidante Charlie Munger died on Tuesday at age 99, leaving a void at Berkshire Hathaway that investors said would be impossible to fill despite the conglomerate's..
US Debt On Track to Increase, by $5.2 Billion Per Day , for the Next Decade.
Insider reports that the United States government
is on track to exceed $50 trillion in debt by 2033,
according to a..
Credit: Wibbitz Top Stories Duration: 01:31Published
Saturday, 4 November 2023
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