Warren Buffett’s Berkshire Hathaway Inc agreed to pay $4.14 million to settle civil allegations that a Turkish subsidiary committed “egregious” violations of U.S. sanctions against Iran, the U.S. Treasury Department said on Tuesday. The department’s Office of Foreign Assets Control said Iscar Turkey sold 144 shipments of cutting tools and related inserts worth $383,443 to […]
(Bloomberg) — A unit of Warren Buffett’s Berkshire Hathaway Inc. claims a top international law firm helped German piping component maker Wilhelm Schulz GmbH fraudulently conceal its disastrous finances before its 2017 acquisition by the U.S. company.Berkshire unit Precision Castparts Corp. sued 2,500-lawyer Jones Day, which represented Schulz in the $940 million acquisition, in a […]
Occidental Petroleum Corp said on Monday it will pay a $200 million quarterly dividend to Warren Buffett’s Berkshire Hathaway Inc in cash instead of common stock, even as the company tries to reduce debt following a plunge in oil prices. In a regulatory filing, Occidental said the payment on its perpetual preferred stock would be […]
(Bloomberg) — Warren Buffett’s Berkshire Hathaway Inc., once the biggest holder of Wells Fargo & Co. common stock, slashed its investment by more than 40% as the San Francisco-based lender copes with the aftermath of consumer-abuse scandals.Berkshire sold more than 100 million shares, trimming its stake in Wells Fargo common stock to about 3.3%, according […]
Berkshire said in a regulatory filing https://bit.ly/2Z9Kxml, it owned about 137.6 million shares, worth $3.4 billion, of the fourth-largest U.S. bank by assets, down about 100 million from the end of June. Buffett began investing in Wells Fargo in 1989, but has been reducing Berkshire’s stake as the bank struggles to recover from a series of […]
(Bloomberg) — Warren Buffett’s Berkshire Hathaway Inc. bought stakes in five of Japan’s biggest trading companies, adding to the billionaire investor’s wager on the commodities sector and marking one of his largest-ever forays into Asia’s second-largest economy.Berkshire acquired the stakes of about 5% in Itochu Corp., Marubeni Corp., Mitsubishi Corp., Mitsui & Co. and Sumitomo […]
