Why Warren Buffett is investing in newspapers (TheMediaOnline)
They say newspapers are dying. Really? Then why is Warren Buffett buying them by the dozen? The influential 20th century economist John Maynard Keynes once wrote that he changed his mind when the facts changed. Warren Buffett – one of the world’s wealthiest businessmen – is obviously a fellow believer because he has certainly changed his tune on the future of newspapers in the space of a couple of years. He’s gone from permafrost bear in 2009 to an almost raging bull in 2013. But don’t expect his admirers in the media and among analysts to highlight this change of heart. Back in 2007 he started saying that newspapers were dying, and again in 2008, while in 2009 at the AGM of his company, Berkshire Hathaway Inc. (NYSE:BRK.A), Buffett was positively negative, saying their future appeal was all but terminal.
Berkshire Hathaway may acquire Unipol insurance assets (IBR)
Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A) is likely to purchase the assets of Italian insurer Unipol, which are being disposed of as part of a merger with Fondiaria-SAI. Il Sole 24 Ore business news paper was cited by Reuters as reporting that Berkshire Hathaway Inc. (NYSE:BRK.A) may go for commercial assets of Milano Assicurazioni, a unit managed by Fondiaria. Financial terms of the transaction have not been revealed and further details of the deal are awaited. The Italian Competition Authority (Autorità Garante della Concorrenza e del Mercato) has forced Unipol to offload its portfolio assets at a premium of nearly €1.7bn ($2.2bn) as part of the merger with the Fondiaria-SAI group.
Warren Edward Buffett Stop Pampering the Filthy Rich (Guardianlv)
Warren Edward Buffett was ranked in March of this year as the fourth billionaire on the Forbes world’s billionaire list. His net worth is around $53.5 billion. It’s easy to dismiss this man and assume he has everything in life and that he probably acquired his wealth by using other people and earning it through their hard work not through his own. This would sell Warren very short. Of course in order to become rich it’s almost unavoidable to use other people in order to get there. However abuse shouldn’t be a part of that. Warren Edward Buffett is not your typical billionaire and he has done some suprising things.
Berkshire India to stop online sale of insurance products (TheHinduBusinessLine)
Tough times call for hard decisions. Warren Buffett-controlled Berkshire Hathaway Inc. (NYSE:BRK.A) India has decided to close down its online distribution portal —www.BerkshireInsurance.com — later this year. This has been conveyed to existing customers who had bought general insurance products online from BerkshireInsurance.com. The decision to close the ‘virtual door’ is being seen by many as Berkshire Hathaway Inc. (NYSE:BRK.A)’s imminent exit from the Indian insurance sector. BerkshireInsurance.com has informed policyholders that their service needs will be handled by a dedicated team within Bajaj Allianz.
