Warren Buffett News

China’s Fosun Looks at UK, Europe Investments on Brexit Volatility

Fosun Group, China’s biggest private conglomerate, will look for more opportunities in the United Kingdom and Europe in the volatile wake of Britain’s referendum vote to leave the European Union, the company’s billionaire co-founder and chairman said at a Reuters …

Timeline: From Teen to Octogenarian, How Buffett’s Wealth Has Grown

In 2016, it’s easier than ever to play the financial markets. From the explosion of online brokers to the rise of robo-advisors, armchair investors have dozens of tools just a few clicks or taps away. Daily trading is a snap. …

CEO Montross to Exit Gen Re at Year’s End; New CEO to Report to Jain, Not Buffett

General Reinsurance Corp. Chairman and CEO Tad Montross plans to step down by the end of 2016, the Berkshire-Hathaway-owned reinsurer said on Tuesday. An eventual successor will report to Berkshire Hathaway executive Ajit Jain, Gen Re spokesperson Sue Johnson told …

Fairfax Financial to Buy 33% Stake in India’s Bangalore Airport for $322 Million

Indian airport operator GVK Power & Infrastructure Ltd. said it sold a stake in its Bengaluru aerodrome to Fairfax Financial Holdings Ltd., helping cut debt. The shares rose. Fairfax will buy 33 percent of Bangalore International Airport Ltd. for 21.49 …

Buffett’s Gen Re to Exit Operations at 6 Locations, Amid Global Reorganization

Gen Re, one of the giant reinsurance businesses at Warren Buffett’s Berkshire Hathaway Inc., said it’s exiting property and casualty operations at six smaller locations amid a global reorganization. The reinsurer said Thursday that it plans to shutter operations in …

China’s Fosun Scraps Plan to Buy Israel’s Phoenix, Vowing More Prudent Strategy

Chinese conglomerate Fosun International Ltd.’s deal to acquire Israeli insurer Phoenix Holdings Ltd. for more than $460 million has unraveled, the firm’s second withdrawn overseas purchase in the past two months as it pledges a more prudent investment strategy. Fosun, …

Buffett’s Berkshire Hathaway Annual Meeting to Air Live on Yahoo

Warren Buffett’s Berkshire Hathaway Inc. plans to webcast its annual meeting for the first time, allowing the largest U.S. shareholder gathering to reach a global audience through Yahoo Inc.’s finance page. Viewers will be able to watch Buffett, Berkshire’s 85-year-old …

Chinese Industrial Firms Will Lead Insurance M&A in 2016, to Grow Beyond Asia

China’s biggest industrial companies want to buy insurers in 2016 as they seek to grow outside Asia as the domestic economy slows and falling insurance rates prompt more firms to do deals, according to Willis Towers Watson Plc. “We’ve been pretty active …

Buffett’s Berkshire Hathaway Cuts Munich Re Stake to 4.6%

Warren Buffett’s Berkshire Hathaway Inc. further reduced its stake in Munich Re as the billionaire investor re-evaluates the attractiveness of the reinsurance market. The holding was trimmed to 4.6 percent from 9.7 percent, Munich Re said in a filing Friday. …

Why Australia’s IAG Decided to Halt China Expansion Plans

When Insurance Australia Group, the country’s largest general insurer, announced ambitious plans in June to ramp up its business in Mainland China, several institutional investors including Jason Kim were seriously concerned. Kim, a portfolio manager at Nikko Asset Management which …