Billionaire Warren Buffett’s investment company Berkshire Hathaway’s operating profit rose by 39 percent to a record 11.22 billion dollars (261.1 billion crowns) in the first quarter. The profit was supported by strong insurance operations, the statement said. The company also appears to have sold a significant portion of Apple stock.
Net income fell 64 percent to $12.7 billion. Buffett, however, considers net income a misleading measure of performance because it includes gains and losses from stock ownership regardless of what Berkshire buys or sells. Operating profit does not include capital gains or losses. Berkshire’s revenue rose five percent to $89.87 billion. The cash held by the company then rose to a record of almost 189 billion dollars.
The company divested itself of Apple shares
The company apparently sold its stake in Apple. The value of the stake in Apple decreased by 22 percent to $135.4 billion at the end of March compared to the end of last year. However, the share price fell by only 11 percent over the same period. Some investors have expressed concern in the past that Apple has become too large a part of Berkshire’s investment portfolio.
The company also bought back its own shares for $2.6 billion. It continued to buy back shares in April.
The Fed is starting to unnerve both investors and Biden. Rate cuts in sight
Money
Bitcoin falls, tech stocks abound, gold rally ends. The investment climate has been deteriorating in recent days. And especially for more speculative assets, such as cryptocurrencies or growth stocks, the situation will probably continue to be bad. Reason? The US Fed has become even more vague about when it will finally start cutting rates. At the same time, this will have an impact on the American elections, a number of markets, including developing countries.
Stanislav Sulc
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The company published the results before the start of the annual general meeting. This year’s is the first since the death of vice chairman Charlie Munger, who was Buffett’s right-hand man and helped build his empire.
The Berkshire Hathaway Group controls dozens of subsidiaries that operate in various industries. He also owns significant shares in a number of well-known companies, for example in the world’s largest producer of soft drinks Coca-Cola or in the technology company Apple.
Ninety-three-year-old Buffett is one of the richest people in the world, and thanks to his successful investments, he earned the nickname the Oracle of Omaha. He has managed the company since 1965. According to the latest list of billionaires compiled by Forbes magazine, Buffett is the sixth richest person in the world with a fortune worth around $133 billion.
Wego’s slimming drug is on the hunt. Thanks to this, its manufacturer Novo Nordisk increased its profit
News from companies
The demand for Wego’s slimming drugs is growing rapidly. Its manufacturer, the Danish company Novo Nordisk, which last year became the most valuable company in Europe, benefits from this. In the first quarter of this year, it reported a year-on-year profit increase of 27 percent to 31.8 billion Danish crowns, i.e. roughly 107 billion crowns. The CNBC server added that sales of Wego’s weight loss drug more than doubled year-on-year.
fry, CTK
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The weaker April left only a small dent in the growth of stock indices this year
Markets
World stock indexes are growing this year, but due to worse results in April, some of them have fallen from record levels. The most watched American indicator S&P 500, the pan-European Stoxx Europe 600, the Chinese Hang Seng and the technology index Nasdaq Composite rose by around six percent this year, according to stock exchange statistics. The British FTSE 100 index reached its maximum in April.
CTK
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Special Real Estate Club
Realitní Club is a multi-platform project of the newstream.cz server dedicated to real estate, aimed at the B2B and B2C segment. It has three basic parts – web, print and event with a strong focus on social networks. The Realitní Club’s special page was the first to launch. The special is divided into four categories that deal with key areas of the real estate market in a “deep dive” manner.
- Brownfields: the vision and future of undeveloped areas, especially in big cities;
- Commercial real estate: offices, coworking;
- New construction: development, rental housing, cooperative housing, mortgages;
- Reality and politics: how municipalities and the highest levels of central politics participate in construction.
They will be included conversations with developers, politicians, architects and designers.
