Warren Buffett’s Berkshire Hathaway Inc (NYSE:BRK) has reduced its stake in BYD Company (OTC:BYDDY), China’s largest electric vehicle maker, to below 5%, marking a continued shift in focus towards U.S. investments for the Omaha, Nebraska-based conglomerate. Berkshire recently decreased its holding in BYD to 4.94% from 5.06%, selling 1.4 million H shares at an average price of 246.96 Hong Kong dollars (approximately $31.64) per share, reported The Wall Street Journal. Dropping below the 5% threshold means Berkshire is no longer required to disclose its sales of BYD stock on the Hong Kong stock exchange. Following the news, BYD shares fell 3.1% in Hong Kong and 4.7% in Shenzhen on Tue

TD Cowen analyst Andrew Kilgerman initiates coverage on Berkshire Hathaway (NYSE:BRK) with a Hold rating and announces Price Target of $465.

Warren Buffett's Berkshire Hathaway (NYSE:BRK) (NYSE:BRK) has offloaded approximately 33.9 million shares of Bank of America (NYSE:BAC), equivalent to around $1.48 billion, as per a regulatory filing with the U.S. Securities and Exchange Commission (SEC.) What Happened: The transactions were executed this week, bringing down Berkshire Hathaway’s ownership to about 999 million BofA shares. The Charlotte, North Carolina-based bank lists Berkshire as one of its biggest shareholders. Berkshire, under the leadership of Buffett, holds a diverse portfolio of bank investments, encompassing stakes in Wells Fargo & Co (NYSE:WFC) and JPMorgan Chase (NYSE:JPM). The conglomerate first invested i

The financial sector looks favorable after a recent earnings report from JPMorgan Chase (NYSE:JPM) and other factors, a market strategist told Benzinga. What Happened: An earnings report from JPMorgan was strong and could lead the financial sector going forward, Freedom Capital Markets Chief Global Strategist Jay Woods told Benzinga. "JPMorgan is the poster child of the financials," Woods said. Woods said the bank's results were "solid," but investors don't always get a warm fuzzy feeling listening to the earnings call. JPMorgan CEO Jamie Dimon looks to the future, and uses analogies to provide cautious outlooks and worst case scenarios, Woods added. "Jamie Dimon, he's the ult

In his characteristic candidness, Charlie Munger, late vice chairman of Berkshire Hathaway Inc (NYSE:BRK)(NYSE:BRK), shared his insights on economic cycles and government interventions, providing a nuanced perspective on the economic climate several years ago. Here’s a look back at what he said and how it could apply today. What Happened: In a 2019 interview, Munger acknowledged the cyclical nature of the economy, noting, “the economy sometimes booms, and sometimes it doesn't, and you have to live your life through both episodes.” His pragmatic view emphasizes resilience and long-term thinking, advising individuals and businesses to remain steadfast regardless of economic fluctua

A recent Benzinga poll found that investors favor having lunch with Tesla Inc (NASDAQ:TSLA) CEO Elon Musk over other legendary investors. What Happened: "If you could choose to have a free business lunch, which of the following would you pick to host you?" Benzinga asked last week. The options and results were: Elon Musk: 55.8% Warren Buffett: 28.5% Jeff Bezos: 9.0% Bill Gates: 6.7% Musk was the overwhelming favorite over the CEO of Berkshire Hathaway Inc (NYSE:BRK)(NYSE:BRK) and founders of Amazon.com Inc (NASDAQ:AMZN) and Microsoft Corporation (NASDAQ:MSFT). One of the richest people in the world, Musk is the most followed person on social media platform X. He ha

Jim Cramer has identified eight companies that could potentially reach a market cap of $1 trillion, joining tech giants Microsoft Corp. (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), and Nvidia Corp. (NASDAQ:NVDA), among others. What Happened: Cramer, on his show “Mad Money” on Wednesday, named Eli Lilly and Co. (NYSE:LLY) and Tesla Inc. (NASDAQ:TSLA) as the top contenders to join the elite group, reported CNBC. As of now, only tech giants Microsoft, Apple, Nvidia, Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), Amazon.com Inc. (NASDAQ:AMZN), and Meta Platforms Inc. (NASDAQ:META) have surpassed the $1 trillion market cap. “To me, it’s going to be Lilly up next,” Cramer said. “But the sheer po

Few investors have more market experience than Berkshire Hathaway Inc (NYSE:BRK) CEO Warren Buffett, who's seen his fair share of over-extended bull markets. After the Dot-Com Bubble crash in 2000, Buffett noted that comparing the market capitalization of stocks to Gross Domestic Product (GDP) is the best indicator of whether equities are overvalued or undervalued at current prices. Trouble Brewing? The indicator, dubbed as the ‘Warren Buffett Indicator' is calculated by looking at the ratio of the total market index compared to the GDP of the U.S. The total market index is tracked by the Wilshire 5000, which is a market-cap-weighted index tracking all U.S. publicly traded companies, comp

Warren Buffett has come up with a new plan for where his billions of dollars will go after his death. Since 2006, the chairman and CEO of Berkshire Hathaway Inc. (NYSE:BRK)(NYSE:BRK) has made annual gifts to the Gates Foundation (formerly known as the Bill & Melinda Gates Foundation) and four other foundations connected to the Buffett name, and he will continue doing that while he is still alive. But that will change upon his death, the Wall Street Journal reported. Buffett, 93, has decided that no more money will be given to the Gates Foundation after he passes away and nearly all of his remaining fortune will instead get funneled into a new charitable trust run by his daughter and

Interactive Brokers Group, Inc. (NASDAQ:IBKR) stock is trending on Wednesday. The company reported losses from a recent trading anomaly and will soon launch forecast contracts on economic and climate events. The Details: Interactive Brokers shares were facing selling pressure in early trading after the company announced approximately $48 million in losses. The stock is bouncing back the time of writing. The losses come from orders placed for Berkshire Hathaway (NYSE:BRK) stock during a trading halt on June 3 after the stock fell to $185 from about $622 thousand per share due to a technical error. The clients of the brokerage subsidiaries of Interactive Brokers Group placed orders du

BALA CYNWYD, Pa., May 17, 2021 (GLOBE NEWSWIRE) -- Global Indemnity Group, LLC (NASDAQ:GBLI) (the "Company"), parent company of specialty property and casualty insurance providers Penn-America Group®, United National Group®, Diamond State Group®, American Reliable Insurance Company®, and Collectibles Insurance Services™ today announced the appointment of Reiner R. Mauer as the chief operations officer of Global Indemnity's insurance businesses and the Company's principal operating officer. Mr. Mauer is a 29-year veteran property & casualty insurance industry senior executive, with expertise in commercial and personal lines insurance, specialty insurance and operations. Prior to joining Gl

AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "aa+" (Superior) of General Reinsurance Corporation (headquartered in Stamford, CT) and its core property/casualty (P/C) and life (re)insurance subsidiaries operating in the United States and internationally. These companies collectively are known as General Re Group (Gen Re). (Please see below for a detailed listing of these companies and Credit Ratings [ratings].) In addition, AM Best has affirmed the Long-Term ICR of "aa+" (Superior) of General Re Corporation (Delaware). The outlook of these ratings is stable. The ratings reflect Gen Re's balance sheet s

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of "aa-" (Superior) of Central States Indemnity Co. of Omaha (CSI), and its subsidiary, CSI Life Insurance Company (CSI Life). The outlook of these Credit Ratings (ratings) is stable. Both companies are domiciled in Omaha, NE. The ratings reflect CSI's and CSI Life's balance sheet strength, which AM Best assesses as strongest, as well as their adequate operating performance, limited business profile and appropriate enterprise risk management. Additionally, CSI and CSI Life benefit from their very conservative underwriting leverage, above average liquidity position and the implicit s

AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings of "aa+" (Superior) of United States Liability Insurance Company (USLI) and its subsidiaries: Mount Vernon Fire Insurance Company; U.S. Underwriters Insurance Company (Bismarck, ND); Mount Vernon Specialty Insurance Company; and Radnor Specialty Insurance Company. The outlook of these Credit Ratings (ratings) is stable. All companies are domiciled in Omaha, NE, unless otherwise specified. The ratings reflect the insurance operating companies' consolidated balance sheet strength, which AM Best assesses as strongest, as well as their very strong operating performance, neutral busines

LONDON, Aug. 13, 2024 /PRNewswire/ -- Proximity, home of the award-winning Retail Super-App, is thrilled to announce a partnership with US-based Helzberg Diamonds, one of the most renowned and respected jewelry retailers in the industry. Proximity's clienteling platform was successfully launched across all Helzberg store locations earlier this summer, and is designed to empower Sales Associates to deliver a hyper-personalised and seamless service to their customers at every touchpoint. By connecting customer data and using innovative technology to power personalization and provide endless aisle capabilities, Proximity's Retail Super-App transforms how brands engage with and sell to their cu

AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings of "aa+" (Superior) of the members of MedPro Group (MedPro). These Credit Ratings (ratings) apply to The Medical Protective Company (Fort Wayne, IN) and its affiliates: Princeton Insurance Company (Princeton, NJ); PLICO, Inc. (Oklahoma City, OK); Wellfleet Insurance Company (Fort Wayne, IN); and Wellfleet New York Insurance Company (Flushing, NY); as well as MedPro's two reinsured affiliates, MedPro RRG Risk Retention Group and AttPro RRG Reciprocal Risk Retention Group (both domiciled in the District of Columbia). The outlook of these ratings is stable. The ratings reflect MedPro'

Incumbent candidates re-elected to three-year term COLUMBUS, Ohio, June 11, 2024 /PRNewswire/ -- The NJASAP Membership has made its mandate clear by re-electing Capt. Pedro Leroux to a fourth consecutive term as the Union president with more than 80% of ballots cast in support of his candidacy. An independent labor advocate, the NetJets Association of Shared Aircraft Pilots (NJASAP) represents the professional interests of the pilots who fly in the service of NetJets Aviation Inc., a Berkshire Hathaway company (NYSE:BRK). The NJASAP Membership has issued a mandate, re-electing

Union views lawsuit as effort to silence discussion of safety, maintenance, pilot training concerns COLUMBUS, Ohio, June 5, 2024 /PRNewswire/ -- On Monday, the NetJets Association of Shared Aircraft Pilots (NJASAP) received notice that NetJets had filed a surprise lawsuit in the Franklin County Court of Common Pleas, alleging the Union has defamed the Fractional in statements regarding safety, maintenance and pilot training concerns dating back almost a year. An independent labor advocate, NJASAP represents the interests of the 3,400-plus pilots who fly in the service of NetJets Aviation, Inc. a Berkshire Hathaway (NYSE:BRK) company.

Unions Motivated by Pressing Need for Productive Labor-Management Dialogue COLUMBUS, Ohio, June 5, 2024 /PRNewswire/ -- The NetJets Association of Shared Aircraft Pilots (NJASAP) and Teamsters Local 284 have relaunched the NetJets Unions Coalition (NUC). NJASAP represents the 3,400-plus pilots who fly in the service of Berkshire Hathaway's (NYSE:BRK) NetJets Aviation, Inc., while Teamsters Local 284 represents approximately 575 NetJets dispatchers, flight attendants, maintenance controllers, mechanics and stock clerks. NetJets unions relaunch coalition based on pressing need f

Managers use intimidation, aggressive interrogation tactics to silence Union's voice COLUMBUS, Ohio, May 22, 2024 /PRNewswire/ -- Labor relations at Columbus-based fractional air carrier NetJets continue to disintegrate according to the NetJets Association of Shared Aircraft Pilots (NJASAP), the independent pilot union representing the 3,400-plus pilots who fly in the service of NetJets Aviation, Inc., a Berkshire Hathaway company (NYSE:BRK). NetJets executives seem more interested in exacting a pound of flesh than accepting our olive branch.The Union said the company reached

AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "aa+" (Superior) of General Reinsurance Corporation (headquartered in Stamford, CT) and its core property/casualty (P/C) and life (re)insurance subsidiaries operating in the United States and internationally. These companies collectively are known as General Re Group (Gen Re). (Please see below for a detailed listing of these companies and Credit Ratings [ratings].) In addition, AM Best has affirmed the Long-Term ICR of "aa+" (Superior) of General Re Corporation (Delaware). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Gen Re'

AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "aa+" (Superior) of General Reinsurance Corporation (headquartered in Stamford, CT) and its core property/casualty (P/C) and life (re)insurance subsidiaries operating in the United States and internationally. These companies collectively are known as General Re Group (Gen Re). (Please see below for a detailed listing of these companies and Credit Ratings [ratings].) In addition, AM Best has affirmed the Long-Term ICR of "aa+" (Superior) of General Re Corporation (Delaware). The outlook of these ratings is stable. The ratings reflect Gen Re's balance sheet s

AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "aa+" (Superior) of General Reinsurance Corporation (headquartered in Stamford, CT) and its core property/casualty (P/C) and life (re)insurance subsidiaries operating in the United States and internationally. These companies collectively are known as General Re Group (Gen Re). (Please see below for a detailed listing of these companies and Credit Ratings [ratings].) In addition, AM Best has affirmed the Long-Term ICR of "aa+" (Superior) of General Re Corporation (Delaware). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Gen Re'

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "a-" (Excellent) of Finial Reinsurance Company (Stamford, CT), an indirect subsidiary of Berkshire Hathaway Inc. (Berkshire) (NYSE:BRK). The outlook of these Credit Ratings (ratings) is stable. The ratings of Finial Reinsurance Company reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM). The ratings also reflect Finial Reinsurance Company's strongest level of risk-adjusted capitalization, as measured by Best's Capital Ad