Berkshire operating earnings surge 71% in fourth quarter, cash hoard balloons to record $334 billion
- The Warren Buffett-led conglomerate said its operating profit — which encompasses earnings from the company’s wholly owned businesses — skyrocketed to $14.527 billion during the final three months of 2024.
- That was led by by a whopping 302% jump in insurance underwriting from the year-earlier period to $3.409 billion.
Berkshire Hathaway on Saturday reported a massive surge in fourth-quarter earnings from its operating businesses,
Read MoreWarren Buffett’s cash pile hits $334 billion in 2024; ‘Berkshire Hathaway paid more taxes than tech titans in trillions’
American multinational conglomerate Berkshire Hathaway’s chief executive officer, Warren Buffett, disclosed in his annual report that the firm’s cash pile for the year ended 2024 was at $334.2 billion, a rise in cash reserve for the 10th consecutive quarter.
Buffett’s cash hoard rose to a record level of $334.2 billion in 2024,
US stocks tumble as businesses and consumers worry about tariffs and Washington
NEW YORK — U.S. stocks fell sharply Feb. 21 after reports showed that worries among consumers and businesses about President Donald Trump’s policies may be hitting the U.S. economy.
The S&P 500 sank 1.7 percent for its worst day in two months. The Dow Jones Industrial Average also dropped 1.7 percent,
» Read more about: US stocks tumble as businesses and consumers worry about tariffs and Washington »
Read MoreMD of cryptocurrency platform CoinZx, associates booked in Mumbai for cheating investors
Days after a scandal involving an investment scheme related to Torres Jewellery, a similar fraud has come to light in Mumbai involving the cryptocurrency ‘Coin ZX’.
The Kasturba Marg police in Mumbai on Wednesday lodged a case against Ravi Mahaseth, the managing director of cryptocurrency platform CoinZx, and five others for allegedly deceiving people into investing in a cryptocurrency launched by his company.
Read MoreNationwide to HIKE credit card interest rates by up to 50% for tens of thousands of customers in weeks
A MAJOR building society with over 17million million customers is hiking credit card fees by up to 50% in weeks.
This decision comes despite a recent drop in borrowing costs, driven by the Bank of England‘s base rate cut from 4.75% to 4.5% earlier this month.
The Burst
1 ETF Set To Beat The Market in 2025?
2024 was another banner year for the US stock market, with the S&P 500 notching a gain of 23%. Dwarfing even this return, though, was that of the Financial Select Sector SPDR ETF (XLF), which has delivered a 29.7% return over the last 12 months.
There is lots of speculation that the new President will be supportive of the financial sector so can XLF beat the market again in 2025,
» Read more about: 1 ETF Set To Beat The Market in 2025? »
Read MoreThe Ivy
3 Top Quantum Stocks to Buy
The last several years have seen a series of tech cycles drive up the stock market. From Metaverse technology to the rise of generative AI, everyone from retail investors to hedge fund managers is looking to get in on the next huge tech development.
Going into 2025, it appears that the technology to go long on may be quantum computing.
» Read more about: 3 Top Quantum Stocks to Buy »
Read MoreThe Spotlight
The Pet Care Powerhouse Flying Under Wall Street’s Radar
With the S&P 500 having advanced by about 23.7% year-to-date, deals among large-cap companies appear few and far between.
One stock that may be attractive, however, is Idexx Laboratories (NASDAQ:IDXX). This company specializes in veterinary diagnostic devices as well as poultry and livestock testing, among other animal-care essentials. Idexx also makes water testing supplies to monitor and maintain water quality.
» Read more about: The Pet Care Powerhouse Flying Under Wall Street’s Radar »