Berkshire cash sets record as profit rises

BERKSHIRE HATHAWAY ON Saturday reported a 34% increase in quarterly operating profit, helped by improved underwriting in its insurance operations, in its last financial report before Warren Buffett bows out as chief executive.

- REUTERS

Buffett’s conglomerate also signalled it remained cautious about markets and valuations, ending September with a record $381.7 billion of cash and equivalents and repurchasing none of its own stock.