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Berkshire Hathaway Inc

Brooks Running CEO Jim Weber to step down

COO and President Dan Sheridan of Brooks RunningCourtesy: BrooksThe longtime CEO of Berkshire Hathaway's Brooks Running, Jim Weber, is stepping down after more than 20 years in the top job, the company will announce Tuesday. Brooks veteran Dan Sheridan, who started at the running company in a marketing role in 1998 and worked his way up to chief operating officer and president, will take over on April 26. Weber, who brought Brooks back from the brink of bankruptcy, steered it through four different owners and built it…

How Ford can challenge powerful a Chinese EV maker’s potential entrance in the U.S.

Forget Tesla , the real competition in electric vehicles is low-cost Chinese automakers. That's what Ford CEO Jim Farley recently told Wall Street. He said he has a plan as one such EV maker looks to break into America. BYD — short for Build Your Dreams — could pose a threat to Ford and other U.S. automakers if speculation is correct and the Chinese automaker does build an electric vehicle factory in Mexico. According to a Nikkei report from mid-February, the plant could be used as an export hub to penetrate the U.S.…

Public utilities fall short on wildfire risk mitigation

Five years and 2,500 miles apart, fires devastated thriving communities — and major U.S. utility companies stood at the center of the infernos.It's a story increasingly familiar in the energy industry: Some utility companies don't properly assess the risks wildfires pose to their operations. A failure to mitigate these risks can have disastrous consequences for both fire victims and utility investors.Through interviews with experts and a review of public records, CNBC found evidence of safety shortcomings in the utility…

Why Shari Redstone needs the right deal

Shari Redstone, president of National Amusements, speaks at the WSJ Tech Live conference in Laguna Beach, California, on Oct. 21, 2019.Mike Blake | ReutersParamount Global nonexecutive chair and controlling shareholder Shari Redstone has been talking to potential buyers interested in acquiring her media company — or parts of it for years — but the seriousness of those discussions has heightened in recent months.There are sector-related reasons for why a deal seems increasingly urgent. The media world is changing rapidly.…

Red Sea crisis fuels shipping costs, delays, inflation

The Maersk Sentosa container ship sails southbound to exit the Suez Canal in Suez, Egypt, on Thursday, Dec. 21, 2023.Stringer | Bloomberg | Getty ImagesAttacks on ships in the Red Sea continue to push ocean freight rates higher, triggering warnings of inflation and delayed goods. To avoid strikes by Iran-backed Houthi militants based in Yemen, carriers have already diverted more than $200 billion in trade over the past several weeks away from the crucial Middle East trade route, which, along with the Suez Canal, connects…

Over a half-billion dollars in rail freight stuck at Texas border

NBC NEWS -- Pictured: Border Patrol Agents arrest 8 suspected illegals in Maverick County, near Eagle Pass, TX, as they try to ride a freight train into the United States from Mexico on February 27, 2007 -- Photo by: Al Henkel/NBC NewsWireNbc Newswire | Nbcuniversal | Getty ImagesMajor railroads Union-Pacific and BNSF, a subsidiary of Berkshire Hathaway, are urging the reopening of El Paso and Eagle Pass crossings so their freight can pass. Since the closure of these key Texas border crossings earlier this week in a…

Musk, Buffett warn about China-Taiwan ahead of 2024 election

Chinese tourists walk past an installation depicting Taiwan (R) and mainland China at a tourist area on Pingtan island, the closest point to Taiwan, in China's southeast Fujian province on April 6, 2023.Greg Baker | AFP | Getty ImagesFraying U.S.-China relations and rising tensions over Taiwan have influential business leaders such as Elon Musk and Warren Buffett sounding alarms about a possible invasion – a matter that will likely loom over the 2024 election.China is already bound to be a major issue in the U.S. campaign…

We’re pleased to see Ford rethink its China strategy as it accelerates EV business

Ford Motor 's (F) decision to scale back future investments in China is a prudent step for the automaker whose business there has been struggling to meet Chinese consumer preferences for electric vehicles. In an interview in The Financial Times on Tuesday, Ford CEO Jim Farley said there's no guarantee that Western electric vehicle automakers in China can prevail ahead of popular domestic EV competitors such as Warren Buffett-backed BYD and Great Wall Motor. Ford's American rival Tesla (TSLA) also has a major foothold in…

TSMC Q1 earnings seen down 5% y/y, Q2 also looks tough

Taiwanese chipmaker TSMC is expected to post a 5% fall in first-quarter net profit, with global economic woes denting demand for semiconductors used in everything from cars to advanced computing extending into the current quarter. Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract chipmaker and a major Apple Inc supplier, is likely to report net profit for the January-March period of T$192.5 billion ($6.30 billion), down from T$202.7 billion a year earlier, according to the average of 21…

Norfolk Southern handled train derailment ‘terribly’

Billionaire investor Warren Buffett said Norfolk Southern botched the response to its East Palestine, Ohio, train derailment in February, an accident that spilled toxic chemicals into the environment."I think they've handled it terribly," the Berkshire Hathaway chairman and CEO said Wednesday in an interview with CNBC's Becky Quick from Tokyo on "Squawk Box."Buffett, whose BNSF Railway competes with Norfolk Southern, said Norfolk was "tone deaf" for its handling of the Feb. 3 derailment in Ohio."I don't think they're…