Heavy storms in the Carolinas caused flash flood warnings and significant rainfall, leading to rescues and evacuations, while strong winds damaged structures. Additionally, wildfire smoke from over 700 Canadian wildfires is affecting air quality in the Midwest, particularly in Minnesota and Chicago, with ongoing fire concerns in the West and Hawaii due to extreme heat and dry conditions.
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Profits at Warren Buffett’s Berkshire Hathaway drop as it writes down its Kraft Heinz investment
Berkshire Hathaway reported a significant profit decline in Q2, earning $12.37 billion due to a $3.76 billion writedown on its Kraft Heinz stake, as the food company considers reversing its merger. Despite this, Berkshire's operating earnings slightly decreased to $11.16 billion, surpassing analyst expectations, while CEO Warren Buffett prepares to transition leadership to Vice Chairman Greg Abel later this year. Want More Context? 🔎
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