Despite challenges, Berkshire’s profits illustrate the value of its business mix. The annual meeting could be more critical than usual. Buffett bought a mystery stock.
Despite the headline earnings loss due to stock market weakness, Berkshire’s robust third-quarter operating results illustrated the value of its insurance segment as it added to its cash hoard. Berkshire again reduced its public stock investments, including Chevron, but continued to buy back its own shares.
Berkshire Hathaway’s resilient earnings illustrated the value of its diversified business mix as it added to its cash hoard. Berkshire reduced its public stock investments, including Chevron, but continued to buy back its own shares at a slower rate.
Source: Fox Business
Dominion cited “ongoing uncertainty associated with achieving clearance from the Federal Trade Commission under the Hart-Scott-Rodino Antitrust Improvements Act of 1976” as the reason for the termination.
Representatives for the FTC and Berkshire Hathaway Energy declined to comment further.
Dominion said Monday’s announcement has no impact on the sale of gas transmission and storage assets to Berkshire Hathaway Energy.
Berkshire entered into an agreement last year to purchase Dominion’s natural gas transmission and storage network for $4 billion, including more than 7,700 miles of natural gas transmission lines and 900 billion cubic feet of gas storage, according to Reuters.
Print
After months of speculation about who would bid on the right to provide gas and electric services within the city limits of San Diego, it turns out that San Diego Gas & Electric has submitted the only bid.
At the San Diego City Council chambers nearly empty because of COVID-19 restrictions the deputy director of the City Clerk’s office on Thursday morning opened the sealed envelopes containing prospective bids on a new franchise agreement.
But the drama was fleeting as SDG&E turned in the sole submissions. Among other conditions, the utility agreed to pay $70 million upfront for the rights to the electric franchise and $10 million for the gas franchise, each covering a term of 20 years.