Buffett’s Berkshire Hathaway wins approval to buy up to half of Occidental

Berkshire Hathaway won the approval of a US energy regulator on Friday to buy up to 50 per cent in Occidental Petroleum, giving Warren Buffett’s company the option to vastly increase its stake in one of the US oil industry’s most storied producers. The Federal Energy Regulatory Commission said Berkshire’s proposal to increase its stake … Read more

Buffett’s Berkshire Hathaway Seeks to Buy as Much as 50% of Occidental

(Bloomberg) — Warren Buffett’s Berkshire Hathaway Inc. won approval from US regulators to buy as much as 50% of Occidental Petroleum Corp. after spending months snapping up its shares. Occidental’s stock had its biggest gain in five months. Most Read from Bloomberg The Federal Energy Regulatory Commission said in a filing published Friday that Berkshire’s … Read more

Buffett’s Berkshire Hathaway wins OK to buy 50% Occidental stake

Breadcrumb Trail Links PMN Economy PMN Business Author of the article: Article content A U.S. energy regulator on Friday gave Berkshire Hathaway Inc, the company controlled by billionaire Warren Buffett, permission to buy up to 50% of oil company Occidental Petroleum Corp’s common stock. The Federal Energy Regulatory Commission (FERC) said its authorization was “consistent … Read more

Warren Buffett’s Berkshire Hathaway makes big bet on US lender Ally Financial

Warren Buffett’s Berkshire Hathaway made a big bet on auto and home lender Ally Financial in the second quarter while increasing its wager on iPhone maker Apple despite signs that an economic slowdown is beginning to weigh on consumers. The investments, along with purchases of shares in video streaming service Paramount Global and oil majors … Read more

Buffett’s Berkshire Hathaway reports $44 billion loss as portfolio value falls

Warren Buffett’s company reported a $43.76 billion loss in the second quarter as the paper value of its investments plummeted and he bought significantly fewer stocks, but Berkshire Hathaway’s many operating companies generally performed well. Berkshire said Saturday that a largely unrealized $53 billion decline in the value of its investments forced it to report … Read more

Buffett’s Berkshire Pounces on Market Swoon to Buy Equities

(Bloomberg) — Warren Buffett’s Berkshire Hathaway Inc. is following an age-old adage: Buy the dip. Most Read from Bloomberg The conglomerate was a net buyer of equities in the quarter, reporting $45.2 billion in purchases after subtracting sales in second-quarter results released Saturday. It bought a total of $41.4 billion in shares in the first … Read more

Warren Buffett’s Berkshire reins in stock purchases and books $43.8bn loss

Warren Buffett’s Berkshire Hathaway dramatically slowed its pace of new investments in the second quarter after its blistering pace at the start of the year, as a sell-off in the US stock market pushed the insurance-to-railroad conglomerate to a $43.8bn loss in the three months to June. Berkshire said on Saturday the drop in global … Read more

The simple and complicated story behind Buffett’s massive oil buy: Morning Brief

As the old E.F. Hutton commercial said: When Warren Buffett talks, they say people listen. But when Buffett talked about Occidental Petroleum (OXY) at Berkshire Hathaway’s (BRK-A) annual meeting on April 30th, how many really heard what the Oracle of Omaha was saying? If anyone skipped that part, investors aren’t tuning out now, as Berkshire … Read more

Warren Buffett: Is Warren Buffett’s interest in Occidental a bet against recession?

Warren Buffett’s near 20% stake in Occidental Petroleum has some investors expecting the billionaire to eventually absorb the oil producer and turn it into a “cash machine” that feeds his other investments. Buffett’s Berkshire Hathaway has been snapping up Occidental shares since 2019, when it bought around $10 billion in preferred stock to help the … Read more