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American investment company Berkshire Hathaway, which is owned by billionaire Warren Buffett, reported that in the first quarter its operating profit amounted to 5.56 billion dollars, an increase of 5% over the year. At the end of the quarter, the company received a net profit of $21.661 billion against a net loss of $1.138 billion a year earlier, helped by significant changes in the value of assets. Revenues amounted to 60.687 billion dollars, an increase over the year by 3.8%. The division uniting the railway, municipal and energy business increased revenues by 2.9%. The insurance division collected premiums totaling $14.319 billion during the earnings period, increasing the figure for the year by 7.1%. The company also reported investment income of $19.522 billion, compared with a loss of $7.809 billion a year earlier. The volume of its assets grew by 4.4% over the quarter, reaching 738.724 billion dollars. The book value of the company since the beginning of the year increased by 6% to 224.95 thousand dollars per class “A” share.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
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