Billionaire investor Warren Buffett has increased his holdings in the newspaper business after agreeing to acquire the Tulsa World daily paper. The acquisition will bring the Berkshire Hathaway stable of daily newspapers to 28, including Buffett's hometown paper, the Omaha World-Herald, which first reported the acquisition on Monday along with the Tulsa paper itself. Spokesman for Buffett's Berkshire Hathaway conglomerate and the Tulsa World declined to comment on the terms of the deal, but did acknowledge that they expect it to be completed by the middle of March.
Warren Buffett revealed on Thursday that he has teamed up with Brazilian businessman Jorge Paulo Lemann to acquire iconic US food maker HJ Heinz Co. Close friends and routine business partners, Buffett and Lemann will split the acquisition cost of $28 billion plus the assumption of $4 billion in debt, and the company will be evenly controlled by Buffett's Berkshire Hathaway and 3G Capital, of which Lemann is the principal shareholder. While Buffett will not play a direct role in the management of Heinz moving forward, Lemann will, working closely with Heinz CEO William R. Johnson.
Warren Buffett, the iconic billionaire and CEO of Berkshire Hathaway, announced on Tuesday that he has been diagnosed with prostate cancer. The 81 year-old investor noted that the condition is not life-threatening and will not limit him in any way in the near term, and no evidence of cancer anywhere else in his body has been found.
Billionaire investor Warren Buffett reportedly increased his stake this week in Tesco, Britain's largest retailer and No. 3 in the world. Buffett's move came just one day after Tesco warned investors that its trading profit in the 2012-2013 fiscal year would be flat while the focuses on growth in the UK. Buffett's stock market moves are closely monitored by the financial community, as his investments have allowed the man referred to as the “Oracle of Omaha” to become the third richest man in the world, according to Forbes Magazine.
Warren Buffett, the well known billionaire, investor and CEO of Berkshire Hathaway announced Monday that he had purchased a huge investment in IBM, a reversal of his previous policy of avoiding tech stocks. Buffett said in an interview with CNBC that Berkshire has spent $10.7 billion this year on 64 million shares of the tech giant, giving Berkshire a significant 5.5 percent stake in the company.
Berkshire Hathaway chairman Warren Buffett announced Monday that the conglomerate is preparing to launch a share repurchase program, buying back shares for as much as 110 percent of their value, saying the stock is undervalued after dropping 17 percent so far this year. The announcement sent the shares about 7 percent higher in early trading. “The underlying businesses of Berkshire are worth considerably more than this amount,” read a statement from the Omaha, Nebraska company. “If we are correct in our opinion, repurchases will enhance the per-share intrinsic value of Berkshire shares.”
Renowned investor Warren Buffett announced on Thursday he has agreed to make a $5 billion investment in Bank of America, infusing some much needed capital in the nation's largest bank just as he did with Goldman Sachs and General Electric during the financial crisis. Shares of the bank rose more than 12 percent in the opening minutes of trading following the announcement, making up a small part of the stock's massive losses this month.
Warren Buffett, the well respected investor and CEO of Berkshire Hathaway, reiterated his opinion that legislators should raise taxes on the very wealthy, a group to which he himself belongs. The remarks were made in an opinion editorial Buffett wrote that was published in the Monday edition of the New York Times. The successful investor said that Congress should stop coddling the super-wealthy and increase the amount of tax they pay.
Reinsurer Transatlantic Holdings was one of very few bright spots for US stock markets Monday, with shares climbing as much as 8 percent after Warren Buffet's Berkshire Hathaway submitted an unsolicited bid Sunday to acquire the company. The gain came as all three major indexes plunged right from the opening bell in the first session since Standard & Poor's downgraded the US debt rating for the first time in history.
Despite Standard & Poor's downgrading US debt for the first time ever on Friday, Berkshire Hathaway Chairman and CEO Warren Buffett still considers US Treasuries one of the safest places to invest. Buffett says the downgrade will not have an impact on his opinion on US debt, and, if anything, will change how he looks at S&P.