Warren Buffett’s Berkshire Hathaway achieved a record-breaking year in 2024, with operating profit soaring by 27% to $47.44 billion driven by gains in insurance underwriting and investment income. The company’s fourth quarter saw a 71% jump in operating profit to $14.53 billion, with net income reaching $19.69 billion boosted by equity holdings. Berkshire paid $26.8 billion in taxes to the US government, making it the top corporate taxpayer, and Buffett revealed a portfolio shift with American Express now its largest holding. Buffett plans to deploy the company’s $334.2 billion cash reserve into equities, reaffirming his preference for stocks over bonds.
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French nuclear-powered carrier makes first visit to Philippines
France's ambassador to the Philippines emphasized the importance of freedom of navigation exercises in the South China Sea amid rising tensions, as the nuclear-powered Charles De Gaulle made its first port visit to the country. The aircraft carrier strike group conducted drills with the Philippine Navy to enhance interoperability and defense capabilities in the disputed waterway, signaling support for countries upholding international law and freedom of navigation. The visit comes as the Philippines seeks to...
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