Berkshire posts $43.8bn loss in second quarter ...Qatar

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Berkshire posts $43.8bn loss in second quarter
The slide in US stock prices punished Berkshire Hathaway Inc’s bottom line in the second quarter, as the conglomerate run by billionaire Warren Buffett yesterday reported a $43.8bn loss. Berkshire nevertheless generated nearly $9.3bn of operating profit, as gains from reinsurance and the BNSF railroad offset fresh losses at the Geico car insurer, where parts shortages and higher used vehicle prices boosted accident claims. Rising interest rates and dividend payouts helped insurance businesses generate more money from investments, while the strengthening US dollar boosted profit from European and Japanese debt investments. Despite the huge net loss, “the results show Berkshire’s resilience,”

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