” Berkshire Hathaway, the investment firm led by Warren Buffett, has posted a 51pc rise in profits thanks to the performance of its insurance companies and the rising value of the businesses it owns stakes in.
Berkshire said net income rose to $4.89bn (£3.14bn) in the first quarter of its financial year on the back of revenues growing 15pc to $43.9bn.
The conglomerate controls almost 100 companies across insurance, utilities, clothing and consumer goods, but also holds stakes in some of the world’s biggest businesses, including Coca-Cola, Wells Fargo, and Tesco, which is Berkshire’s biggest holding outside the US.”
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