Berkshire Hathaway http://www.globalpost.com/taxonomy/term/27313/all en UPDATE 2-Buffett's MidAmerican, Sierra Club in coal settlement http://www.globalpost.com/dispatch/news/thomson-reuters/130122/update-1-midamerican-sierra-club-coal-plant-settlement <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* To stop burning coal at some plants by 2016</p> <p>* May convert in some cases to natural gas</p> <p>* Sierra Club threatened suit last July</p> <p>Jan 22 (Reuters) - Utility company MidAmerican Energy Co said it has reached a settlement with the Sierra Club over power plant emissions, which includes a pledge to stop burning coal at certain plants over the next few years.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130122/update-1-midamerican-sierra-club-coal-plant-settlement" target="_blank">read more</a></p> Berkshire Hathaway Energy Energy in the United States Environment MidAmerican Energy Co PacifiCorp Warren Buffett Thomson Reuters Tue, 22 Jan 2013 18:45:48 +0000 Thomson Reuters 5737915 at http://www.globalpost.com Berkshire buys ketchup maker Heinz in $28bn deal http://www.globalpost.com/dispatch/news/afp/130214/berkshire-buys-ketchup-maker-heinz-28bn-deal <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Warren Buffett's investment powerhouse Berkshire Hathaway and 3G Capital announced Thursday that they would take over venerable US ketchup maker Heinz in a deal valuing the company at $28 billion.</p> <p>The two will pay HJ Heinz shareholders $72.50 per share in cash, a 20 percent premium on Heinz's Wednesday closing price.</p> <p>Counting debt assumed by the buyers, the deal valued Heinz at about $28 billion, they said.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130214/berkshire-buys-ketchup-maker-heinz-28bn-deal" target="_blank">read more</a></p> Berkshire Hathaway Business Food and drink AFP Thu, 14 Feb 2013 19:51:41 +0000 Agence France-Presse 5756000 at http://www.globalpost.com Berkshire, 3G buy ketchup maker Heinz in $28bn deal http://www.globalpost.com/dispatch/news/afp/130214/berkshire-3g-buy-ketchup-maker-heinz-28bn-deal <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Billionaire Warren Buffett's investment powerhouse Berkshire Hathaway and 3G Capital announced Thursday that they would take over venerable US ketchup maker Heinz in a deal worth $28 billion.</p> <p>The buyers heralded 144 year old HJ Heinz Co's strong, global portfolio of prepared food brands, which Buffett called "great tasting" products.</p> <p>Heinz said it was the largest ever takeover in the food industry.</p> <p>The two buyers will pay Heinz shareholders $72.50 per share in cash -- a 20 percent premium on Heinz's Wednesday closing price.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130214/berkshire-3g-buy-ketchup-maker-heinz-28bn-deal" target="_blank">read more</a></p> Berkshire Hathaway Business Food and drink Food industry H.J. Heinz Co. Heinz AFP Thu, 14 Feb 2013 20:02:14 +0000 Agence France-Presse 5756029 at http://www.globalpost.com Buffett's Berkshire Hathaway, Brazil's 3G Capital buy food giant H.J. Heinz http://www.globalpost.com/dispatch/taxonomy/term/35779/130226/buffetts-berkshire-hathaway-brazils-3g-capital-buy-food-giant-hj <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agencia EFE </div> </div> </div> <!--paging_filter--><p>New York, Feb 14 (EFE).- Billionaire Warren Buffett's Berkshire Hathaway Inc. said Thursday it joined forces with Brazilian investment fund 3G Capital to purchase U.S. food giant H.J. Heinz for $28 billion, including the assumption of outstanding debt.</p> <p><a href="http://www.globalpost.com/dispatch/taxonomy/term/35779/130226/buffetts-berkshire-hathaway-brazils-3g-capital-buy-food-giant-hj" target="_blank">read more</a></p> Berkshire Hathaway Business Food and drink Food industry H.J. Heinz Heinz Agencia EFE Tue, 26 Feb 2013 15:19:41 +0000 Agencia EFE 5767132 at http://www.globalpost.com Bomb kills three Posco protesters in India: police http://www.globalpost.com/dispatch/news/afp/130303/bomb-kills-three-posco-protesters-india-police <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>A crude bomb exploded in a village in eastern India, killing three people involved in protests against a $12 billion steel plant project by South Korean giant Posco, police said Sunday.</p> <p>Police claimed the dead victims were suspected of making bombs themselves when one of them exploded Saturday in Patana village in Orissa state, but a protest group spokesman said they were attacked by supporters of the project.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130303/bomb-kills-three-posco-protesters-india-police" target="_blank">read more</a></p> Berkshire Hathaway Chaebol North Gyeongsang Province Politics POSCO AFP Sun, 03 Mar 2013 10:45:22 +0000 Agence France-Presse 5772034 at http://www.globalpost.com ArcelorMittal targets $3 billion savings to help margins http://www.globalpost.com/dispatch/news/thomson-reuters/130315/arcelormittal-targets-3-billion-savings-help-margins <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Philip Blenkinsop</p> <p>BRUSSELS (Reuters) - ArcelorMittal &lt;ISPA.AS&gt;, the world's largest steelmaker, set out a new $3 billion (1 billion pounds) savings plan to restore steel margins to levels unmatched since the crisis struck in 2008.</p> <p>The new plan is the latest step in its aggressive response to steel sector problems that include a nine percent slide in demand in the European Union last year.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130315/arcelormittal-targets-3-billion-savings-help-margins" target="_blank">read more</a></p> ArcelorMittal Berkshire Hathaway Business Chaebol USD Thomson Reuters Fri, 15 Mar 2013 16:00:15 +0000 Thomson Reuters 5784608 at http://www.globalpost.com PetroChina says 2012 net profit falls 13% http://www.globalpost.com/dispatch/news/afp/130321/petrochina-says-2012-net-profit-falls-13 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>PetroChina on Thursday reported that 2012 net profit fell 13.3 percent, despite increased production, as the oil giant was hit by a slowdown in the growth rate of the Chinese economy.</p> <p>China's largest listed oil company said its 2012 profit was 115.33 billion yuan ($18.56 billion), down from the 132.96 billion yuan it recorded in 2011. Revenue rose 9.6 percent to 2.2 trillion in 2012.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130321/petrochina-says-2012-net-profit-falls-13" target="_blank">read more</a></p> Berkshire Hathaway Hang Seng Index Constituent Stocks Matter Technology AFP Thu, 21 Mar 2013 10:46:02 +0000 Agence France-Presse 5789725 at http://www.globalpost.com POSCO mill-fire http://www.globalpost.com/dispatch/news/yonhap-news-agency/130322/posco-mill-fire-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Yonhap News Agency </div> </div> </div> <!--paging_filter--><p>POHANG, South Korea, March 22 (Yonhap) -- A furnace at POSCO's steel mill in southeastern South Korea caught fire after an apparent explosion on Friday and firefighters were trying to extinguish it, fire officials said.</p> <p>There were no immediate reports of injuries in the fire that broke out around 8:10 p.m. at the Finex furnace at the mill in Pohang, North Gyeongsang Province, about 370 kilometers southeast of Seoul, they said.</p> <p>A local police officer said an explosion at the furance appeared to have caused the fire.</p> <p><a href="http://www.globalpost.com/dispatch/news/yonhap-news-agency/130322/posco-mill-fire-0" target="_blank">read more</a></p> Berkshire Hathaway Pohang Provinces of South Korea Yonhap News Agency Fri, 22 Mar 2013 12:46:37 +0000 Yonhap News Agency 5790947 at http://www.globalpost.com POSCO mill-fire http://www.globalpost.com/dispatch/news/yonhap-news-agency/130322/posco-mill-fire-1 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Yonhap News Agency </div> </div> </div> <!--paging_filter--><p>POHANG, South Korea, March 22 (Yonhap) -- A furnace at POSCO's steel mill in southeastern South Korea caught fire after an apparent explosion on Friday and firefighters were trying to extinguish it, fire officials said.</p> <p>One worker, believed to be a POSCO official, was sent to a nearby hospital after inhaling toxic gas, fire officials added.</p> <p>The fire broke out at around 8:10 p.m. at the Finex furnace at the mill in Pohang, North Gyeongsang Province, about 370 kilometers southeast of Seoul, they said.</p> <p><a href="http://www.globalpost.com/dispatch/news/yonhap-news-agency/130322/posco-mill-fire-1" target="_blank">read more</a></p> Berkshire Hathaway Pohang Provinces of South Korea Yonhap News Agency Fri, 22 Mar 2013 14:01:27 +0000 Yonhap News Agency 5791032 at http://www.globalpost.com China car maker BYD reports profit plunge http://www.globalpost.com/dispatch/news/afp/130325/china-car-maker-byd-reports-profit-plunge <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Chinese electric car producer BYD, which is partly backed by US investment titan Warren Buffett, said its net profit plunged more than 94 percent year-on-year in 2012, hit by slowing growth in the country.</p> <p>The company, based in the southern boomtown of Shenzhen, said in a statement Sunday that net profit came in at 81.38 million yuan ($12.92 million) last year, down from 1.38 billion yuan in 2011.</p> <p>A subsidiary of Buffett's Berkshire Hathaway owns 9.56 percent of BYD.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130325/china-car-maker-byd-reports-profit-plunge" target="_blank">read more</a></p> Berkshire Hathaway Business Energy Technology Transport AFP Mon, 25 Mar 2013 08:00:20 +0000 Agence France-Presse 5793001 at http://www.globalpost.com http://www.globalpost.com/dispatch/news/afp/130328-1 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Swiss Re to receive $610mln after settling dispute with Warren Buffett</p> <p>fga/mfp</p> <p>SWISS RE AG</p> <p>BERKSHIRE HATHAWAY</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> Berkshire Hathaway AFP Thu, 28 Mar 2013 07:46:21 +0000 Agence France-Presse 5795985 at http://www.globalpost.com URGENT ¥¥¥ Swiss Re to accept $610 mln to end dispute with Warren Buffett http://www.globalpost.com/dispatch/news/afp/130328/urgent-swiss-re-accept-610-mln-end-dispute-warren-buffett <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Swiss Re, one of the world's biggest insurers, on Thursday said it had settled a dispute with billionaire Warren Buffett's Berkshire Hathaway over a 2010 life retrocession deal, and would accept a settlement of $610 million from the US company.</p> <p>Swiss Re said in a statement it had agreed to take back some of the risks covered by the reinsurance contract with Berkshire Hathaway. The total protection provided by the US firm to Swiss Re will be reduced from $1.5 billion to $1.05 billion, it added.</p> <p>fga/lgo/mfp</p> <p>SWISS RE AG</p> <p>BERKSHIRE HATHAWAY</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> Berkshire Hathaway Insurance Reinsurance companies AFP Thu, 28 Mar 2013 07:46:27 +0000 Agence France-Presse 5795987 at http://www.globalpost.com Swiss Re to take $610 mln and end dispute with Buffett http://www.globalpost.com/dispatch/news/afp/130328/swiss-re-to-take-610-mln-and-end-dispute-with-buffett <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Swiss Re, one of the world's biggest reinsurance groups, on Thursday said it had settled a dispute with billionaire Warren Buffett's Berkshire Hathaway over a 2010 insurance policies deal, and would accept a settlement of $610 million from the US company.</p> <p>Swiss Re said in a statement it had agreed to take back some of the risks covered by a reinsurance contract with Berkshire Hathaway. The total protection provided by the US firm to Swiss Re will be reduced from $1.5 billion to $1.05 billion, it added.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130328/swiss-re-to-take-610-mln-and-end-dispute-with-buffett" target="_blank">read more</a></p> Berkshire Hathaway Insurance Reinsurance companies SWISS RE AG USD AFP Thu, 28 Mar 2013 08:30:36 +0000 Agence France-Presse 5796019 at http://www.globalpost.com POSCO head gets award http://www.globalpost.com/dispatch/news/asianet/130412/posco-head-gets-award <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Asianet </div> </div> </div> <!--paging_filter--><p></p><P> The POSCO Chairman and CEO Chung Joon Yang has been honoured with ‘Steelmaker of the Year’ award at AISTech 2013 - The Iron &amp; Steel Technology Conference and Exposition, managed by Association for Iron &amp; Steel Technology (AIST).</p><P>Chung is recognised as a visionary for global steel industry for his knowledge of steel operations, dedication to safety, awareness to secure raw materials, enthusiasm to incorporate new technologies, foresight to expand POSCO’s foreign presence and prudent strategy to promote mutual growth with steel-consuming industries.</p><P>AISTech 2013 will take</p> <p><a href="http://www.globalpost.com/dispatch/news/asianet/130412/posco-head-gets-award" target="_blank">read more</a></p> Berkshire Hathaway Business Chaebol Pohang Technology Asianet Fri, 12 Apr 2013 14:49:12 +0000 Asianet 5813348 at http://www.globalpost.com Posco's Q1 profit plunges 54% on weak demand http://www.globalpost.com/dispatch/news/afp/130425/poscos-q1-profit-plunges-54-weak-demand <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>South Korean steel giant Posco said Thursday it had suffered a 54 percent drop in its first-quarter net profit because of weakening global demand and lower prices.</p> <p>Consolidated net profit in the January-March period fell to 292 billion won ($260 million) from 636 billion won a year earlier, the company said in a statement.</p> <p>"Fewer orders from shipbuilders and construction companies dented the bottom line amid a prolonged slump," a Posco spokesman told Dow Jones Newswires.</p> <p>"Slower-than-expected recovery in China's steel market also weighed on the outcome." </p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130425/poscos-q1-profit-plunges-54-weak-demand" target="_blank">read more</a></p> Berkshire Hathaway Chaebol North Gyeongsang Province AFP Thu, 25 Apr 2013 07:45:39 +0000 Agence France-Presse 5824812 at http://www.globalpost.com