Hints and tips:
...Investors were buoyed by the fact that Geico, the company’s auto insurance unit, posted a second consecutive quarterly profit after more than a year of losses....
...Profits at its insurance businesses — which includes Geico — were nearly wiped out, falling to just $47mn from $764mn a year earlier....
...It works with dozens of insurers worldwide including the UK’s Aviva, Geico in the US and Japan’s Tokio Marine....
...The company disclosed that it had spent $6.6bn buying back its class A and B common stock, as it continued to direct much of its firepower towards share repurchases....
...An initial extra 400,000 barrels per day will be pumped from August, reaching an extra 2m b/d by the end of the year....
...“Before Brexit, Britons could just rock up in France and start a B&B or run a gîte business. But now they will need a work visa, requiring a business plan proving viability,” she says....
...The $760bn-in-assets conglomerate is skewed towards financial companies — it owns large insurance companies, such as Geico, outright and stakes in many of America’s largest banks — and industrials....
...This article has been amended to reflect that Wordpress is a publishing platform, not a web design company...
...pay the same tax as small local companies....
...Operating earnings at Berkshire fell 11 per cent to $6.14bn in the three months to the end of June, partly weighed down by higher expenses at its insurance unit Geico and declining agriculture and consumer...
...Reflecting a desire to (i) protect against no improvement in trading for 18 months, (ii) enable the company to support stakeholders to their mutual advantage and (iii) retain full operational flexibility...
...For instance, the genius of Berkshire Hathaway is that, by being able to access billions of dollars in insurance float from Geico and Wesco, Buffett was able to access cash with effectively no cost....
...Nonetheless, the insurance division swung to a net underwriting profit in the period, after suffering more than $1.4bn in losses a year prior....
...In smart neighbourhoods, a clutch of new boutique hotels has sprouted up, including the seven-room Seku Bi, named after the parrots in the garden, and La Demeurea, a simple B&B above a café and design shop...
...The two men had been friends since 1959 1991 Steps in as chairman of investment bank Salomon Brothers in the middle of a crisis 1996 Buys Geico, an insurance company he had been following since 1950...
...Division in the US: If you told me at the start you would have a Cuban missle crisis and you’d have nuclear weapons and you’d have financial panic and war in the streets in the 1960s because of a divided...
...He is also predicting Berkshire’s next quarterly earnings, due at the end of this month, will show improved results at Geico, the car insurance arm, where Mr Buffett has blamed a surge in payouts on careless...
...I’d also expect to see fiscal policy loosened. Perhaps a cut in VAT?...
...US producers took advantage of the brief rally to buy insurance against a weaker market in 2017, analysts say....
...$700m stake in the bank in part because of Gutfreund’s relationship with Geico, Mr Buffett’s insurance division....
...This compares with 900,000 b/d before the country was split by rival governments in 2014....
...To the extent you manipulate a currency that advantages the United States, it’s not currency manipulation. This is a defined term....
...GEICO....
...We may consequently end up in a situation where supply is purposefully withheld from the market in anything but surge-pricing moments (a.k.a we’d experience a permanently backwardated market)....
...While insurance has been the basis of Berkshire’s extraordinary growth from a modest investment company into the world’s largest conglomerate, until recently it had largely avoided making an aggressive push...
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