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Berkshire Hathaway is controlled by Warren Buffett, who is chairman and chief executive of the company which owns a range of companies, including GEICO and NetJets, a substantial stake in Heinz, and has stakes in American Express, Procter & Gamble and IBM. The company is noted for outperforming the stock market under the leadership of Buffett, a value investor.
Shenzhen carmaker is having the last laugh on Elon Musk as its global deliveries overtake those of US rival.
- Tesla’s global deliveries fell 20 per cent to 386,810 units in the first quarter, while BYD’s volume slumped 43 per cent to 300,114
- Aggressive price discounts in mainland China may help BYD restore its leadership in pure-electric car market, analyst says
BYD, the world’s largest electric-vehicle maker, is targeting a 20 per cent increase in sales this year, just a third of last year’s tally, as overcapacity concerns and a price war loom over the sector in mainland China.
The Shenzhen-based company expects to complete its share repurchase scheme within 12 months of the plan’s approval by shareholders.
Mainland Chinese EV builders’ 2024 has got off to a bumpy start, after car deliveries dropped sharply amid mounting concerns about a slowing economy and job losses.
The world’s largest electric car maker expects earnings for 2023 to jump by as much as 86.5 per cent, buoyed by record deliveries. Its profitability, however, remains far behind rival Tesla because of the American giant’s bigger profit margins.
Charlie Munger, a former lawyer, was Warren Buffett’s deputy at Berkshire Hathaway. He was a value investor who believed in long-term investments and companies’ intrinsic value.
Munger was known for steering Buffett away buying ‘cigar butts’ – mediocre firms at very cheap prices – and instead favouring quality over quantity.
From rubbing shoulders with Prince William at Ascot, to picking out million-dollar artworks at Frieze, the world’s wealthiest flock to a handful of events year round – so what are they?
BYD, the world’s largest electric vehicle (EV) maker, reported on Monday its highest ever quarterly profit, buoyed by surging deliveries and a cost-cutting campaign.
BYD, the world’s largest EV maker, expects its third-quarter earnings to hit an all-time high after it delivered a record number of cars to Chinese consumers.
The Rolling Stones frontman recently revealed he won’t be leaving his US$500 million fortune to his 8 kids – so which other mega-wealthy celebs share the same sentiment towards their offspring?
The share sale on May 2 has reduced Berkshire’s holding in Shenzhen-based BYD to 9.87 per cent from 10.05 per cent in August last year.
Investment tycoon Warren Buffett said he is more comfortable with Berkshire Hathaway Inc deploying capital in Japan than Taiwan, reflecting the growing tensions between the United States and mainland China.
The carmaker reported that net profit fell to 4.13 billion yuan (US$596.28 million) in the first quarter, down from 7.3 billion yuan in the fourth quarter as potential buyers anticipated bigger price cuts.
The Warren Buffett-backed company cut the price of its Seagull model below the level that already attracted 10,000 pre-orders in 24 hours.
The billionaire investor swore off Japanese food for life after a disastrous sushi dinner in 1989. Even at 92, he’d much rather be eating McDonald’s, Hershey’s Kisses and Coke.
Elon Musk lost his No 1 spot to LVMH’s Bernard Arnault last year in a record-breaking wealth loss, but who else is on 2023’s list of world’s richest people?
The share sale on March 31 has reduced Berkshire’s holding to 10.9 per cent from 19.92 per cent in August, when it started paring its stake in the Shenzhen-based carmaker for the first time in 14 years.
From tech billionaires Bill Gates, Elon Musk, Jeff Bezos and Larry Ellison, to investment guru Warren Buffett and luxury titan Bernard Arnault – who has the priciest timepiece?
‘Some players will be eliminated, while some will grab a bigger market share,’ says Wang Chuanfu, founder, chairman and president of Chinese carmaker BYD.
The Shenzhen-based carmaker’s profit rose 12-fold to 7.3 billion yuan (US$1.06 billion) in the three months to December, compared with 602 million yuan a year earlier.
The US$6 billion in government guarantees UBS is seeking would cover the cost of winding down parts of Credit Suisse and potential litigation charges, sources said.
New plant in Wenzhou, in east China’s Zhejiang province, will produce enough batteries to power 200,000 electric cars per year.
Warren Buffett’s Berkshire Hathaway trimmed its stake in BYD for the seventh time as the stock slipped more than 39 per cent from its peak in June 2022 and this year’s rally bypassed the EV maker.
Warren Buffett broke with his practice of staying out of local politics to urge his hometown of Omaha to abandon its planned tram project because he says it’s too expensive and not as flexible as buses.
The Shenzhen-based company, backed by Warren Buffett’s Berkshire Hathaway, confirms it is looking into building local factories in Europe, but did not reveal a timeline, locations or capacities.
