Berkshire Profit Rises 9.6% to $4.99 Billion on Insurance

INN Breaking News, March 3, 2014

Noah Buhayar and Zachary Tracer

U.S. gross domestic product expanded at a 2.4 percent pace in the fourth quarter, Commerce Department figures showed yesterday. It was the third straight quarter that growth exceeded 2 percent, the first time that happened since 2010.

Buffett’s company stands to benefit from that trend because many of its subsidiaries count the U.S. as their largest market. Among the more than 80 operating businesses are furniture retailers, a trucking operation and a home builder. Berkshire expanded last year by buying Nevada’s largest energy utility and half of ketchup maker HJ Heinz Co.

Also see Berkshire's Specialty Insurance Unit to Buy MyAssist From Noel

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