Berkshire Hathaway’s operating earnings surge 71% with record cash pile
CNN
Berkshire Hathaway on Saturday reported operating earnings for the fourth quarter surged 71% after taxes to a record $14.5 billion.
Warren Buffett’s Berkshire Hathaway (BRK.A) on Saturday reported operating earnings for the fourth quarter rose 71% after taxes year-over-year to a record $14.5 billion. Operating profit in 2024 rose 27% to $47.4 billion from $37.3 billion a year earlier. Berkshire reported full-year net income of $89 billion, down 7.5% from 2023. “Berkshire did better than I expected,” Buffett said in his annual letter to investors. “We were aided by a predictable large gain in investment income as Treasury Bill yields improved and we substantially increased our holdings of these highly-liquid short-term securities,” Buffett said. Buffett said insurance businesses “delivered a major increase in earnings,” led by car insurer Geico. Berkshire earned $9 billion in 2024 from insurance underwriting, a 66% increase from $5.4 billion in 2023. “In five years, Todd Combs has reshaped GEICO in a major way, increasing efficiency and bringing underwriting practices up to date,” Buffett wrote in a letter to shareholders.
Vinyl records are popular again, but it’s not just audiophiles or nostalgic boomers fueling the resurgence.
The nation’s first universal child care program is rolling out in one of its poorest states — sparking debate about cost, sustainability and who benefits most.
Target hopes that a recapturing of its cultural cachet will spark a turnaround for its business. It’s turning to a fashion-forward New York neighborhood to get started.
Whether or not anyone wins the billion-dollar Powerball jackpot on Saturday, at least one of the losers might already be known: Mega Millions.
President Donald Trump on Thursday ordered a review of two major proxy advisory firms — companies that advise shareholders on votes — that had previously drawn the ire of Tesla CEO Elon Musk and others in Corporate America.
For many people, the economy is a simple equation: paychecks minus expenses. When it feels like our incomes are growing faster than prices, the economy is in good shape. When they’re not, it’s lousy.
A group of House Republicans handed President Donald Trump a rare rebuke on Thursday, voting to restore collective bargaining rights he had stripped from about 1 million federal workers earlier this year.
US lottery jackpots used to never reach $1 billion. They’ve done it 12 times in 5 years
Onetime cryptocurrency mogul Do Kwon was sentenced Thursday to 15 years in prison after a $40 billion crash revealed his crypto ecosystem to be a fraud.
President Donald Trump on Thursday signed an executive order that blocks states from enforcing their own regulations around artificial intelligence and instead aims to create a “single national framework” for AI.
Lululemon Athletica said on Thursday that its CEO, Calvin McDonald, will step down in January, after about seven years at the helm as the yogawear maker navigates a challenging consumer environment in the United States as well as growing competition from newer brands.
Wall Street got the rate cut it wanted. But with the Federal Reserve set to take a more cautious approach to trimming interest rates in 2026, investors are now left to wrestle with other concerns that had been put on the back burner while Fed rate cuts were top of mind.
Time has announced that the “architects of AI” are its Person of the Year. Certainly, AI is wrapping up an extraordinary year, and many AI business executives have become household names.