Warren Buffett News

Berkskhire Hathaway Cuts Stake in Moody’s

Warren Buffett’s Berkshire Hathaway Inc. this week lowered its stake in credit ratings provider Moody’s Corp. to 16.98 percent from 20.4 percent, the first reported reduction since 2000. The sale of about 8 million shares was revealed three months after …

Buffett: Economic Recovery to Take Time; Obama, Fed Taking Right Steps

Warren Buffett said Wednesday that the U.S. economy has “no bounce” and will take time to recover, but there is no risk of deflation to push it further into despair. Speaking on CNBC television, the world’s second-richest person also praised …

Former General Re Executive Given Probation

A former business executive was sentenced Tuesday to two years of probation for his role in an accounting scandal that cost shareholders of insurer American International Group Inc. more than $500 million. John Houldsworth, the former chief executive officer of …

Berkshire’s National Indemnity Backs XL Capital D&O

A unit of Warren Buffett’s Berkshire Hathaway Inc. has agreed to provide guarantees on XL Capital Ltd directors and officers (D&O) liability insurance policies that protect corporate boards and executives against lawsuits. In a regulatory filing, XL said Berkshire’s National …

New Municipal Bond Insurer Set to Launch, Reports Reuters

A newly formed U.S. municipal bond insurer, ready to open its doors as soon as it gets credit ratings, expects to launch with about 50 employees and double that number as it ramps up, executives told Reuters. Municipal and Infrastructure …

Declarations

“We are lucky.” —Warren Buffett, as he addressed thousands of shareholders at Berkshire Hathaway’s annual meeting in his hometown of Omaha, Neb., on May 2. He said insurance, along with utilities, another big business for Berkshire, are sectors “relatively unaffected …

Declarations

‘We are lucky.’ —Warren Buffett, as he addressed thousands of shareholders at Berkshire Hathaway’s annual meeting in his hometown of Omaha, Neb., on May 2. He said insurance, along with utilities, another big business for Berkshire, are sectors “relatively unaffected …

Swiss Re Q1 Net Profit Falls 75% to $131.6 Million, But Results Improve

Swiss Re reported a net profit of CHF 150 million ($131.6 million) in the first quarter of 2009, compared to CHF 0.6 billion ($527 million) for the same period last year. Earnings per share declined to CHF 0.45 (39.5 cents). …

Berkshire’s Buffett: Life Insurers Took ‘Crazy’ Financial Risks

Billionaire Warren Buffett on Sunday criticized some life insurers for taking on “crazy” financial risks by selling variable annuities, or retirement products that promised unrealistic guarantees to buyers. The products are tied to stock market performance and in some cases …

Buffett Criticizes Bank Stress Tests; Eyes Insurance for Flu Pandemic

Warren Buffett criticized the government’s stress tests of 19 large U.S. banks, and said he would buy more shares of three big banks in the portfolio of his Berkshire Hathaway Inc. Buffett also told reporters on Sunday that Berkshire, which …