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...Buffett’s sprawling conglomerate, which owns the BNSF railroad and Geico insurer, first invested in the iPhone maker in 2016 at the direction of one of his two investment deputies: Todd Combs and Ted Weschler...
...The parent company of Mexican rail company Ferromex, Grupo México, declined to comment....
...Additional reporting by Dylan Loh A version of this article was first published by Nikkei Asia on March 6. ©2024 Nikkei Inc. All rights reserved....
...The US company told the Financial Times there had been “no attack on or fire at the factory”, which is situated in the Brandenburg region south-east of Berlin and produces 6,000 cars a week....
...The company was “still convinced that the logistical optimisation of the factory would be a big win for the community”, adding it would “agree on further steps together with all those concerned, on the basis...
...BNSF also reported lower rail shipment volumes....
...his annual letter on Saturday that there were very few deals that offer the kind of transformative impact past takeovers have had, such as its purchases of insurers Geico and National Indemnity or the BNSF...
...There were, he said, few deals that offered the kind of transformative impact past takeovers have had, such as its purchases of insurers Geico and National Indemnity or the BNSF railroad....
...But investors said they would be closely scrutinising Buffett’s annual letter next February for any indications that change is afoot at the conglomerate, which counts insurer Geico and the BNSF railroad...
...Samii had moved to Pittsburgh to work for a self-driving car company, Argo.ai, a start-up funded by Ford and Volkswagen....
...The sprawling conglomerate is now worth more than $780bn, with stakes in Apple, Coca-Cola and Bank of America as well as ownership of the BNSF railroad and Geico insurer....
...Berkshire’s BNSF Railway, which runs from California to Illinois, reported a decline in shipping revenues and said consumer and industry demand had fallen....
...The BNSF railroad, with more than 32,000 miles of track that run from Oakland, California to Chicago, showed a 12 per cent drop in revenues....
...A version of this article was first published by Nikkei Asia on April 2 2024. ©2024 Nikkei Inc. All rights reserved....
...One investor said they were concerned Berkshire did not have systems in place to address what they called “reprehensible behaviour” at BNSF....
...The activist, known for waging battles at companies including JCPenney, Allergan and Canadian Pacific Railway, is employing the same bare-knuckle tactics at his alma mater, including calling for the removal...
...The company plans to open “flex spaces” in places such as Destin, Florida, (population 14,000) and in Britain’s traditional railway hub of Crewe (55,000)....
...Traffic on its BNSF railroad also fell at the start of the year, which the company blamed on lower imports from the west coast and the loss of a customer....
...and China Railway Construction....
...A public company is supposed to earn a margin above the risk-free rate; a higher risk-free rate should not by itself make a company more valuable....
...The canal and railway manias of the 1790s and 1840s respectively helped transform the UK into the world’s leading economy, for example....
...At the top of the list was Yoshiaki Tsutsumi, the former owner of Seibu Railway, whose wealth Forbes estimated at $15bn....
...The company’s underlying businesses, which include the BNSF railroad and Dairy Queen ice cream purveyor, generated a $6.7bn profit in the final three months of the year, down 8 per cent from the prior year...
...“We were deeply dismayed to hear of S&P’s retrograde decision” on multiple class shares, said Caroline Escott, senior investment manager at Railpen, which manages £35bn for British railway workers....
...A tentative agreement in September delivered concessions to employees and BNSF said pay costs rose 27 per cent in the third quarter from a year earlier....
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