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An investigation into a Colorado coal train derailment and bridge collapse that killed a truck driver is focused on whether inspection and maintenance practices at BNSF Railway contributed to the accident, federal officials said Thursday. The steel bridge built in 1958 collapsed onto Interstate 25 Oct 15, when a broken rail caused 30 cars from a BNSF Railway train hauling coal to derail, the National Transportation Safety Board said based on preliminary findings. Broken rails and other track problems are a leading cause of derailments, according to federal accident data. Political Cartoons View All 1230 ImagesThe BNSF train was travelling about 32 mph (52 kph) — below the 45 mph (72 kph) limit for the area, the NTSB said. There were more than 12,400 train derailments in the U.S. in the past decade, or more than 1,200 annually, according to Federal Railroad Administration data based on reports submitted by railroads.

Persons: Lafollette Henderson Organizations: BNSF Railway, National Transportation Safety, NTSB, BNSF, Federal Railroad Administration Locations: Colorado, Pueblo, Compton , California, Ohio, Pennsylvania, U.S

☆ The S&P 500 has entered a correction. Here's why Warren Buffett likely thinks that's good news
▼ + stars: | 2023-10-28 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

The stock market tumbled into correction territory this week, spurring fear among investors that more turmoil is ahead. But if you are a disciple of Warren Buffett, a 10% drawdown for the equity benchmark shouldn't matter. "I know what markets are going to do over a long period of time — They're gonna go up. Buffett believes that when there's emotional selling in the market, it offers an opportunity for him to hunt for bargains. "Anytime stocks go down as far as I'm concerned, I like it because I'm a net buyer of stocks," he said.

Persons: Warren Buffett, Buffett, Benjamin Graham, They're, I've, Berkshire Hathaway, Stocks, aren't Organizations: Columbia University, CNBC, Berkshire, Oracle, Omaha, BNSF Railway, America, Dow, Cities Locations: Berkshire

(AP) — Investor Warren Buffett joined the recent oil-buying spree in the market this week by resuming Berkshire Hathaway's purchases of Occidental Petroleum stock for the first time in four months. Buffett's company said in a Securities and Exchange Commission filing late Wednesday that it invested more than $246 million to add to its already massive Occidental stake over the first three days of this week. Berkshire bought nearly 4 million more shares of the Houston-based oil producer to give it more than 228 million shares and control of nearly 26% of Occidental. Berkshire's Occidental stake is now worth more than $14.4 billion. In addition to the common Occidental shares Berkshire owns, it also holds 84,897 preferred shares of Occidental that it picked up in 2019 when it helped finance Occidental’s acquisition of Anadarko.

Persons: Warren Buffett, Buffett Organizations: —, Berkshire, Occidental Petroleum, Securities and Exchange Commission, Occidental, Chevron, Hess Corp, Exxon Mobil, Natural Resources, Buffett, Exxon, Berkshire's, Apple, Bank of America, BNSF Locations: OMAHA, Neb, Houston, Occidental, Berkshire, United States, Berkshire's Occidental, Anadarko . Berkshire, Omaha , Nebraska

(AP) — Investor Charlie Munger, who's been Warren Buffett's right-hand man for more than five decades, has made a $40 million gift to a California museum that he's supported in the past. Munger gave 77 Class A Berkshire Hathaway shares to the Henry E. Huntington Library and Art Museum in San Marino, California, according to a filing with the Securities and Exchange Commission. A decade ago, he gave the Huntington museum nearly $33 million worth of Berkshire stock to help pay for a new education and visitors center. Political Cartoons View All 1202 ImagesAfter his latest donation, Munger still holds 4,033 Class A Berkshire shares. Although Berkshire is based in Omaha, Nebraska, where Buffett lives, Munger has long lived in southern California, so much of his charitable giving has been focused on the West Coast.

Persons: Charlie Munger, who's, Warren Buffett's, he's, Munger, Henry E, Susan Turner, Lowe, Turner, Munger's, Buffett's, he'd, he'll, Buffett Organizations: Berkshire Hathaway, Huntington Library, Art Museum, Securities and Exchange Commission, Huntington, Berkshire, Buffett, BNSF Locations: OMAHA, Neb, California, San Marino , California, Huntington, Berkshire, Los Angeles, Omaha , Nebraska, West Coast

☆ J.B. Hunt Transport Will Acquire BNSF Brokerage Business
▼ + stars: | 2023-09-15 | by ( Sabela Ojea | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Organizations: bnsf

☆ Berkshire sells some HP shares after taking big stake last year
▼ + stars: | 2023-09-14 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc's annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. Berkshire sold the shares this week for about $158 million, reducing its HP stake to about $3.27 billion, according to a filing with the U.S. Securities and Exchange Commission. Buffett's company now owns about 11.7% of HP's shares, down from 12.2% before the sales, SEC filings show. Wednesday's filing does not say why Berkshire sold shares. HP's share price has fallen 19% since Berkshire in April 2022 revealed an unexpected $4.2 billion stake in the Palo Alto, California-based company, which had been separated seven years earlier from the former Hewlett-Packard.

Persons: Warren Buffett, Scott Morgan, Warren Buffett's Berkshire Hathaway, Buffett, Jonathan Stempel, Lincoln Organizations: Berkshire Hathaway, REUTERS, HP, Berkshire, U.S . Securities, Exchange Commission, SEC, Hewlett, Packard, Companies, Forbes, Apple, Thomson Locations: Omaha , Nebraska, U.S, Palo Alto , California, China, Berkshire, New York

☆ IPOs are heating up again. Here's why Warren Buffett thinks they are a bad investment idea
▼ + stars: | 2023-09-09 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

The chief executive officer of Berkshire Hathaway , with his legendary keen eye for value, thinks that bargains are rarely found in the IPO market. 'Ridiculous' commission Both Buffett and Munger have called the underwriting fees that investment banks charge for IPOs "ridiculous," saying they inflate IPO prices. Better in auction market The investment icon likens the stock market to an auction market where extraordinary bargains pop up now and again. By contrast, the IPO market resembles a negotiated deal where cheap securities are hard to come by. "In my view — you're way more likely to get incredible bargains in an auction market.

Persons: Warren Buffett, Berkshire Hathaway, Buffett, Charlie Munger, Buffett's, Munger, Goldman Sachs, Benjamin Graham, they're Organizations: Arm Holdings, Berkshire Hathaway, Oracle, Wall, Columbia University, Berkshire, BNSF Railway, Apple, Clayton Homes Locations: Omaha, Alleghany, It's

☆ Warren Buffett donates $27 mln Berkshire stock
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018. REUTERS/Rick Wilking/File Photo/File Photo/File Photo Acquire Licensing RightsAug 17 (Reuters) - Warren Buffett donated nearly $27 million of Berkshire Hathaway (BRKa.N) stock this week to an unnamed charity, the latest move in the billionaire investor's plan to give away his fortune. Berkshire disclosed Buffett's donation of 50 Class A shares in a Wednesday night filing with the U.S. Securities and Exchange Commission. Buffett still owns 218,237 Class A shares of Berkshire, for an approximately 15% stake in the Omaha, Nebraska-based conglomerate he has run since 1965. Berkshire owns several dozen businesses including the BNSF railroad, Geico car insurance and many energy, manufacturing and retail operations.

Persons: Warren Buffett, Rick Wilking, Berkshire Hathaway, Melinda Gates, Buffett, Jonathan Stempel, Diane Craft Organizations: Berkshire Hathaway Inc, Omaha , Nebraska U.S, REUTERS, U.S . Securities, Exchange Commission, Melinda Gates Foundation, Buffett, Forbes, Berkshire, Apple, Thomson Locations: Omaha , Nebraska, Berkshire, New York

☆ Warren Buffett's company invests in three homebuilders even as rates rise
▼ + stars: | 2023-08-14 | by ( Jonathan Stempel | ) www.reuters.com time to read: +3 min

Berkshire Hathaway logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 10, 2023. Berkshire said that as of June 30, it owned about 5.97 million DR Horton shares worth $726.4 million, about 153,000 Lennar shares worth $17.2 million, and 11,112 NVR shares worth $70.6 million. Larger investments are usually Buffett's, and investors often try to piggyback on Berkshire's moves, reflecting Buffett's reputation as an investor. The selling included 45% of Berkshire's stake in General Motors (GM.N), whose shares fell 1% after hours. Its largest stock holding by far remained its $177.6 billion stake in Apple (AAPL.O).

Persons: Brendan McDermid, Berkshire Hathaway, Warren Buffett, Benjamin Moore, Berkshire, Todd Combs, Ted Weschler, Jonathan Stempel, Lewis Krauskopf, Marguerita Choy, Matthew Lewis Organizations: Berkshire Hathaway, New York Stock Exchange, REUTERS, Berkshire, Clayton Homes, DR Horton, DR, BNSF, General Motors, Apple, Capital, Globe, Marsh & McLennan, Vitesse Energy, Thomson Locations: Berkshire, New York City, U.S, Manville, Marsh, New York

☆ Stop searching for 'the next Warren Buffett' — The 'Oracle of Omaha' is impossible to copy
▼ + stars: | 2023-08-10 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Every so often, a hot new investor on the rise is crowned "the next Warren Buffett" by the financial media, followed swiftly by disappointing performance that proves they're no "Oracle of Omaha." "The next Warren Buffett" remains Warren Buffett alone. What makes Buffett so hard to duplicate? That makes Buffett, famously a student of Columbia University's legendary value investing professor Ben Graham, the most venerated investor of his, or succeeding, generations. "Berkshire's economic moat is more than just a sum of its parts," said Greggory Warren, Berkshire analyst at Morningstar.

Persons: Warren Buffett, Sam Bankman, Buffett, Pershing, Bill Ackman, Eddie Lampert, Chamath, Berkshire Hathaway, LBJ, Ben Graham, Greggory Warren Organizations: Berkshire Hathaway, BNSF Railway, Apple, Columbia, Morningstar, Berkshire Locations: Omaha, Berkshire, New England

☆ Warren Buffett's Berkshire Hathaway revealed that consumers are cutting back - and a recession could be the result
▼ + stars: | 2023-08-07 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

Rapid inflation and hikes to interest rates have fanned fears of an economic slowdown or recession. Berkshire Hathaway HomeServices - real estate brokerage revenues fell 22% and after-tax earnings fell 60%, as transaction volumes fell and revenues from mortgage services dropped. - real estate brokerage revenues fell 22% and after-tax earnings fell 60%, as transaction volumes fell and revenues from mortgage services dropped. However, the slowdown in Berkshire's consumer businesses may well signal a broader downturn in consumer spending across the US economy. The Federal Reserve responded by hiking interest rates from nearly zero to north of 5% today.

Persons: Warren, Berkshire Hathaway, Berkshire Hathaway HomeServices, James Shanahan, Edward Jones, They've, they've Organizations: Service, BNSF Railway, Berkshire, Manufacturing, Clayton Homes, Berkshire Hathaway Automotive, Federal Locations: Wall, Silicon, Berkshire, Here's, Forest, McLane

☆ Berkshire Hathaway shares are still cheap even at these record levels, Wall Street analysts say
▼ + stars: | 2023-08-07 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Berkshire Hathaway shares just hit a record high on the back of strong second quarter results, but Wall Street analysts believe it's still not too late to buy Warren Buffett's conglomerate. Berkshire's Class A shares climbed as much as 3.2% Monday to hit a record high of $550,660. UBS analyst Brian Meredith said Berkshire shares still trade at an 11% discount to intrinsic value even after the earnings-triggered rally. BRK.A YTD mountain Berkshire Hathaway "We believe that the current share price represents an attractive entry point for long-term investors. KBW's Meyer Shields also raised his Berkshire target price following the holding company's earnings, lifting his objective to $565,000 from $545,000.

Persons: it's, Warren, Brian Meredith, Meredith, Edward Jones, James Shanahan, Berkshire Hathaway, Shanahan, KBW's Meyer Shields, — CNBC's Michael Bloom Organizations: Berkshire Hathaway, Investors, UBS, Berkshire, BNSF Railway Locations: Omaha, Dairy, Berkshire

☆ Berkshire Hathaway stock scales record as operating profit tops $10 bln
▼ + stars: | 2023-08-07 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

Berkshire Hathaway logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 10, 2023. REUTERS/Brendan McDermidAug 7 (Reuters) - Berkshire Hathaway's (BRKa.N) stock price set a record high on Monday, rising more than 2%, after the conglomerate run by billionaire investor Warren Buffett said quarterly operating profit topped $10 billion for the first time. In morning trading, Berkshire's stock price rose $14,300, or 2.7%, to $547,900, surpassing the previous high $544,000 set on March 28, 2022. Keefe, Bruyette & Woods analyst Meyer Shields, who rates Berkshire "market perform," raised his price target to $565,000 from $545,000. In 2023, Berkshire shares have slightly trailed the index, after outpacing it in 2022.

Persons: Brendan McDermid, Warren Buffett, Clayton, Brian Meredith, Keefe, Meyer Shields, Buffett, Jonathan Stempel, Chuck Mikolajczak, Lance Tupper, David Gregorio Our Organizations: Berkshire Hathaway, New York Stock Exchange, REUTERS, Clayton Homes, Apple, Berkshire, UBS, Woods, Thomson Locations: Berkshire, New York City, U.S, Omaha , Nebraska, New York

☆ Berkshire posts record operating profit, rising rates boost Buffett's returns
▼ + stars: | 2023-08-05 | by ( Jonathan Stempel | ) www.reuters.com time to read: +5 min

"The earnings impact of higher interest rates on investment income is offsetting the economic softness caused by those same rates," he added. Investors closely watch Berkshire because of Buffett's reputation, and because results from the Omaha, Nebraska-based company's operating units often mirror broader economic trends. NOT LOVING VALUATIONSQuarterly operating profit rose 7% to $10.04 billion, or about $6,938 per Class A share, from $9.42 billion a year earlier. Berkshire repurchased $1.4 billion of stock in the quarter, down from $4.4 billion from January to March. Overall profit from Berkshire Hathaway Energy, where Berkshire has a 92% stake, was little changed at $785 million.

Persons: Warren Buffett, Rick Wilking, Berkshire Hathaway, Jim Shanahan, Edward Jones, Buffett, Cathy Seifert, Seifert, PacifiCorp, Jonathan Stempel, Ira Iosebashvili, Angus MacSwan, Jan Harvey, Alistair Bell, Diane Craft Organizations: Berkshire Hathaway Inc, Omaha , Nebraska U.S, REUTERS, Berkshire, Berkshire's Clayton Homes, Profit, BNSF, Forbes, Berkshire repurchased, Apple, Berkshire Hathaway Energy, Occidental Petroleum, Thomson Locations: Omaha , Nebraska, Berkshire, Alleghany, Oregon, An Oregon, Occidental, New York

☆ Berkshire posts record operating profit, $35.9 billion of net income
▼ + stars: | 2023-08-05 | by ( Jonathan Stempel | ) www.reuters.com time to read: +4 min

Quarterly operating profit topped $10 billion for the first time but grew just 7%, in part from recent purchases of the Alleghany insurer and Pilot truck stop operator. Second-quarter operating profit rose to $10.04 billion, or about $6,938 per Class A share, from $9.42 billion a year earlier. Net income totaled $35.91 billion, or $24,775 per Class A share, compared with a year-earlier $43.62 billion loss. Pilot added $114 million to operating profit. Overall profit from Berkshire Hathaway Energy, in which Berkshire has a 92% stake, was little changed at $785 million.

Persons: Warren Buffett, Rick Wilking, Berkshire Hathaway, Cathy Seifert, Seifert, Buffett, PacifiCorp, Jonathan Stempel, Angus MacSwan, Jan Harvey, Alistair Bell Organizations: Berkshire Hathaway Inc, Omaha , Nebraska U.S, REUTERS, Berkshire, Clayton Homes, BNSF, Berkshire repurchased, Apple, Occidental Petroleum, Berkshire Hathaway Energy, Forbes, Thomson Locations: Omaha , Nebraska, Berkshire, Alleghany, Occidental, An Oregon, New York

☆ Warren Buffett is struggling to find bargains, Berkshire Hathaway's 2nd-quarter earnings show
▼ + stars: | 2023-08-05 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett found few bargains in the second quarter, Berkshire Hathaway's earnings show. The investor's company sold a net $8 billion of stock, and spent only $1.4 billion on buybacks. They also spent only $1.4 billion on stock buybacks last quarter, down from over $4 billion in the first quarter. They plowed a record $68 billion into stocks last year, or $34 billion on a net basis. In contrast, Berkshire sold over $18 billion of stock on a net basis during the first six months of this year.

Persons: Warren Buffett, Warren Buffett's, Berkshire Hathaway's, That's, it's, Buffett, didn't, Fitch Organizations: Berkshire, Service, BNSF Railway, Travel Centers, Treasury, CNBC, AAA, AA Locations: Wall, Silicon, Alleghany, Berkshire

☆ Berkshire Hathaway Posts Quarterly Profit of Nearly $36 Billion
▼ + stars: | 2023-08-05 | by ( ) www.nytimes.com time to read: +1 min

Berkshire Hathaway, the conglomerate led by the billionaire Warren Buffett, posted its highest ever quarterly operating profit on Saturday, while gains from stock holdings helped Berkshire swing to an overall profit of nearly $36 billion. Rising interest rates and dividend payouts, as well as a rebound in performance at the Geico car insurer, have been helping Berkshire’s insurance businesses generate more money, with profit up 38 percent from the second quarter of 2022. Berkshire cited rising premiums and a reduction in advertising as among the reasons for Geico’s positive results. That helped offset declines at other businesses including the BNSF railroad, where lower shipments of consumer goods and increased price competition from the trucking industry contributed to a 24 percent drop in overall profit. Investors closely watch Berkshire because of Mr. Buffett’s reputation as a savvy investor and because results from the conglomerate’s dozens of operating units often mirror broader economic trends.

Persons: Berkshire Hathaway, Warren Buffett Locations: Berkshire

☆ Berkshire Hathaway swings to a profit, boosted by massive investment gains
▼ + stars: | 2023-08-05 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +2 min

Operating earnings totaled $10 billion in the second quarter, a 6.6% gain from the same period last year. Insurance underwriting and higher investment income helped boost Berkshire’s operating profits. The company posted net income of $35.9 billion after a loss of $43.6 billion in the second quarter of 2022. Berkshire posed $25.9 billion in investment gains last quarter, marking a significant turnaround from a year earlier, when its investments lost $53 billion in the second quarter alone. Insurance investment income increased to $2.3 billion from $1.9 billion this time last year.

Persons: Berkshire Hathaway, Warren Buffett Organizations: New, New York CNN, Berkshire, BNSF Locations: New York, Berkshire, United States, BHE

☆ New tentative labor deal reached in Canadian port negotiations
▼ + stars: | 2023-07-31 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

The International Longshore and Warehouse Union of Canada (ILWU) and the British Columbia Maritime Employers Association (BCMEA) late Sunday announced a tentative labor agreement. Canadian Labor Minister Seamus O'Regan commented Monday morning on the announcement of another tentative deal. This latest tentative deal does not mean the uncertainty is over. The first tentative labor deal was rejected by the union body in a two-day vote last week. A 14-day strike has led to more than 16 canceled sailings to the Canadian ports, according to maritime intelligence company, eeSea.

Persons: Rob Ashton, Ashton, Seamus O'Regan, Berkshire Hathaway, John Brooks, Brooks Organizations: Warehouse Union of Canada, British Columbia Maritime Employers Association, Sunday, Canada Industrial Relations, ILWU, Canadian Labor, Canadian, Canadian Pacific Kansas City, Canadian National Railway, U.S, BNSF, Union Pacific, Norfolk Southern, CSX, Pacific Kansas City Locations: Burrard, North Vancouver, British, ILWU Canada, Canadian Pacific, U.S, Berkshire, East, Pacific Kansas

☆ Buffett cut Activision stake before judge approved Microsoft merger
▼ + stars: | 2023-07-17 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

In a regulatory filing on Monday, Berkshire said it owned about 14.7 million Activision shares, or 1.9%, worth $1.24 billion on June 30, down from 49.4 million shares, or 6.3%, on March 31. The filing did not discuss the prices of any sales, or whether Berkshire bought or sold Activision stock in July. One of Berkshire's portfolio managers invested in Activision in late 2021, with Buffett boosting the stake to nearly 10% in 2022. Berkshire's remaining Activision stake - 14,658,121 shares - is exactly the size it was before Buffett started buying, suggesting that he has exited the arbitrage bet. Activision shares rose 10% to $90.99 on July 11 after U.S. District Judge Jacqueline Scott Corley in San Francisco rejected U.S. Federal Trade Commission arguments that the merger would hurt competition in cloud gaming, consoles and subscription services.

Persons: Warren Buffett's Berkshire Hathaway, Buffett, Jacqueline Scott Corley, Jonathan Stempel, Matthew Lewis Organizations: Activision Blizzard, Microsoft, Activision, Berkshire, Buffett, U.S, Federal, Commission, Markets Authority, BNSF, Apple, Bank of America, Thomson Locations: Berkshire, San Francisco, Omaha , Nebraska, New York

A union representing port workers in Western Canada officially began striking, an action that could have ripple effects reaching beyond the U.S.'s northern neighbor. The International Longshore & Warehouse Union Canada's Longshore Division announced its labor strike began in a Saturday Facebook post signed by union president Rob Ashton. More than 99% of members of the union, who support West Coast ports such as Vancouver and Prince Rupert, voted to approve the strike last month. In an email to CNBC, BNSF said it had no comment on a strike impact. In a CPKC customer advisory issued Wednesday, the railway said: "The work stoppage related to this notice could impact port operations in British Columbia.

Persons: Rob Ashton, Prince Rupert, Ashton, Seamus O'Regan Jr, Port of Prince Rupert, Paul Brashire, of Prince Rupert, Berkshire Hathaway, CPKC, Steve Lamar Organizations: Warehouse, Longshore Division, Facebook, Canada Longshore, British Columbia Maritime Employers Association, Canadian, U.S, CNBC, Tacoma ., Longshoremen's Association, Warehouse Union, ITS Logistics, Port, BNSF, American Apparel and Footwear Association Locations: Western Canada, West Coast, Vancouver, British, Canada, Port, Port of, Asia, Seattle, Tacoma, U.S, Chicago, Detroit, of, Canadian Pacific, Berkshire, British Columbia

☆ BNSF Railway wins new trial over $228 million jury award in biometric data case
▼ + stars: | 2023-06-30 | by ( Mike Scarcella | Industry Insight | Corporate Attorneys Don T Want To Pay Law Firms For Chatgpt When They Could Use It Themselves | ) www.reuters.com time to read: +3 min

But Kennelly said damages under the biometric law were discretionary, and so "BNSF is entitled to have a jury determine the appropriate amount of damages." The trial was the first to be held under the Illinois biometric privacy law, which is among the most stringent nationwide in protecting sensitive personal information. The jury in Chicago last year concluded BNSF "recklessly or intentionally" violated the Illinois biometric privacy law 45,600 times. Lawyers for BNSF said in a post-trial brief that the Illinois biometric law contains the word "may" and that "there is the option not to award damages, or to award damages in any amount less than the statutory maximum." The case is Rogers v. BNSF Railway Company, U.S. District Court, Northern District of Illinois, No.

Persons: Berkshire Hathaway, Matthew Kennelly, Kennelly, Warren Buffett's Berkshire Hathaway, Jon Loevy, Myles McGuire, David Gerbie, Elizabeth Herrington, Lewis, Bockius Read, Mike Scarcella, Leigh Jones, Matthew Lewis Organizations: Law, BNSF, Berkshire, BNSF Railway, District, Facebook, Rogers, . BNSF Railway Company, Court, Northern District of, McGuire Law, Thomson, & $ Locations: U.S, Illinois, Fort Worth , Texas, Chicago, Northern District, Northern District of Illinois, Morgan

☆ Berkshire Hathaway boosts stake in Occidental Petroleum to 25%
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 28 (Reuters) - Berkshire Hathaway Inc (BRKa.N) said on Wednesday it has acquired more shares of Occidental Petroleum Corp (OXY.N), boosting its stake in the oil company to above 25%. The conglomerate, controlled by billionaire Warren Buffett, said in a regulatory filing that it paid about $122.1 million for 2.14 million Occidental shares between June 26 and June 28. Berkshire had also purchased about 4.66 million Occidental shares on May 30. It also recently owned about $9.5 billion of Occidental preferred stock carrying an 8% dividend, plus warrants to buy another $5 billion of Occidental shares at $59.62 each. Berkshire had amassed a 22.6% stake in the BNSF railroad before paying $26.5 billion for the remainder in 2010.

Persons: Warren Buffett, Buffett, We're, We've, Jonathan Stempel, Sherry Jacob, Phillips Organizations: Berkshire Hathaway Inc, Occidental Petroleum Corp, Occidental, Berkshire, Anadarko Petroleum Corp, BNSF, Apple Inc, Thomson Locations: Berkshire, Houston, Russia, Ukraine, Occidental, Omaha , Nebraska, Bengaluru

☆ ILWU Canada West Coast port workers to strike starting July 1 in blow to recovering supply chain
▼ + stars: | 2023-06-28 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

After a recent landslide vote of union members, the ILWU Canada has served notice it plans to strike at the country's West Coast ports starting on July 1. ILWU Canada said in a statement on Wednesday that its goal is to protect jobs and claims the British Columbia Maritime Employers Association is demanding major concessions. Impact to U.S. economy and tradeThe biggest port to be affected by this strike is the Port of Vancouver, the largest port in Canada. So far, ILWU Canada has declined this binding mediation & arbitration proposal," it said. But logistics managers tell CNBC that news of the Canadian port worker strike is a blow to operations.

Persons: Prince Rupert, ILWU, Rob Ashton, BCMEA, Port of Prince Rupert, Berkshire Hathaway, Vancouver and Prince Rupert, Jon Gold, General Mills, Jeff Harmening, Paul Brashier, Brashier Organizations: Canadian Labor, ILWU, British Columbia Maritime Employers Association, Canadian, Port, Vancouver Fraser Port Authority, U.S, BNSF, U.S ., National Retail Federation, CNBC, Retailers, General, ITS Logistics Locations: Canada, Coast, ILWU Canada, West Coast, Vancouver, British, of Vancouver, Canadian, Vancouver Fraser, U.S, Port of Vancouver, Port of, West, CN, Canadian Pacific, Berkshire, Panama, U.S . West Coast, Midwest, Chicago

☆ Warren Buffett's charitable giving tops $51 billion
▼ + stars: | 2023-06-22 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

June 22 (Reuters) - Warren Buffett has donated another $4.64 billion of Berkshire Hathaway (BRKa.N) stock to five charities, boosting his total giving since 2006 to more than $51 billion. Buffett is donating 10.45 million shares to the Bill & Melinda Gates Foundation, which has received more than $39 billion of Berkshire stock overall. He still owned more than $112.5 billion, or about 15%, of Berkshire shares following Wednesday's donations. The Susan Thompson Buffett Foundation works in reproductive health. The Howard G. Buffett Foundation focuses on alleviating hunger, mitigating conflicts and improving public safety.

Persons: Warren Buffett, Berkshire Hathaway, Buffett, Melinda Gates, Susan Thompson Buffett, Howard, Susan, Peter, Howard G, Bill Gates, Michael Bloomberg, Larry Ellison, Carl Icahn, Elon Musk, Mark Zuckerberg, Jonathan Stempel Organizations: Melinda Gates Foundation, Susan Thompson Buffett Foundation, Buffett Foundation, Sherwood Foundation, NoVo Foundation, BNSF, Apple Inc, Thomson Locations: Berkshire, Omaha , Nebraska, United States, Nebraska, New York

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