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The Latest Breaking News from BNSF

US Stock Market: Berkshire steps up buybacks, boosts Alphabet stake as cash falls

Berkshire Hathaway began deploying its cash pile in Q2, buying nearly $20 billion more stocks than it sold and ending a 14-quarter selling streak. It also repurchased $4.5 billion of its own shares in Q2 and bought about $10 billion of Alphabet stock, while posting better-than-expected operating profit.

The Economic Times

Berkshire Hathaway spends down cash pile under CEO Greg Abel

Berkshire Hathaway reduced its cash hoard to $365.5 billion in Q2, as CEO Greg Abel deployed capital into $4.5 billion of stock buybacks and nearly $20 billion in equities, including investments in Alphabet and Taylor Morrison. Operating earnings rose 16% to nearly $13 billion despite lower insurance underwriting profits.

The Economic Times

Berkshire Hathaway's Buyback Engine Roars Back As Net Earnings More Than Double To $25.7 Billion

Berkshire Hathaway Inc. (NYSE:BRK) (NYSE:BRK) said Saturday that second-quarter net earnings attributable to shareholders jumped to $25.67 billion, more than double the $12.37 billion posted a year earlier, as a rebound in the conglomerate’s stock portfolio combined with a sharp step-up in share repurchases under CEO Greg Abel.

Benzinga

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Trump floated the idea of a 15% government stake in massive railroad merger

Trump did not name any specific companies, but Union Pacific's pending acquisition of Norfolk Southern is the only known railroad deal currently in progress.

Fortune

I'm a Berkshire Hathaway investor and I was wrong about Greg Abel. Here's why he's a better fit than Buffett right now

Berkshire's new CEO isn't Warren Buffett — and that's exactly what the company needs right now.

Fortune

Union Pacific argues for its $85B acquisition of Norfolk Southern in new railroad merger application

Union Pacific hopes a new application will be enough to persuade regulators that its $85 billion acquisition of Norfolk Southern would be good for the country

The Independent UK

Warren Buffett Told New CEO Greg Abel ‘Once You Start Fooling Your Shareholders, You Will Soon Believe Your Own Baloney.’ What Did Abel Tell Shareholders About Q4?

Greg Abel eased the nerves of Berkshire Hathaway investors by recommitting to the values that the company has always held under legendary investor Warren Buffett.

Barchart

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Rail regulators accused of ignoring safety recommendations after shocking number of accidents

There have been 23 deaths and nearly 1,200 injuries over the past decade

The Independent UK

2 big rail unions oppose $85B Union Pacific-Norfolk Southern merger over safety and cost concerns

The proposed $85 billion merger of the Union Pacific and Norfolk Southern railroads has lost the support of two of their biggest unions that represent more than half the workers because they are worried the deal would increase safety risks, lead to higher shipping rates and consumer prices and cause…

The Independent UK

Railroads will be allowed to reduce inspections and rely more on technology to spot track problems

The nation’s freight railroads are going to be able to try relying more on technology and inspect their tracks less often after the federal government approved their waiver request on Friday

The Independent UK

Shareholders of Union Pacific, Norfolk Southern support $85 billion rail merger

Shareholders of Union Pacific and Norfolk Southern backed the railroads’ proposed $85 billion merger to create the nation’s first coast-to-coast rail network

The Independent UK

Rail conductor who was struck by a train and killed is identified as a Montana man

Authorities have identified a BNSF Railway conductor fatally struck by a passing train as a 52-year-old Montana man

The Independent UK

Rail conductor’s death investigated after he was hit and killed by train in Montana

Emergency response officials weren't sure what led up to the man’s death

The Independent UK

CSX profit falls 22% as new CEO takes over but performance is expected to improve

CSX’s earnings fell 22% in the third quarter as the railroad wrapped up two major construction projects that were limiting traffic

The Independent UK

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Capital & Main

Effort to Curb Southern California Rail Yard Pollution Stalls Under Trump

The region’s rail yards continue to pose serious health hazards, prompting local advocates to push state leaders for action.

The Independent UK

CSX railroad's merger prospects derail as BNSF and CPKC make clear they aren't interested in a deal

The prospects for additional consolidation in the rail industry derailed this week when both of CSX's potential partners said they weren't interested in a deal

Benzinga

What's Going On With CSX Shares Monday?

CSX Corporation (NASDAQ:CSX) shares traded lower on Monday after reports indicating the company and the Burlington Northern Railroad have not held merger talks. CNBC also reported Berkshire is not in the market to buy a train company.

The Guardian - US

Greater risk of toxic derailments if $85bn railroad merger is approved, warn unions

Workers sound alarm over proposed Union Pacific and Norfolk Southern deal and its risks to jobs, prices and power

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The Independent UK

Apply safety rules to more trains carrying flammable cargo, lawmakers urge

Federal safety investigators and some members of Congress want to expand special safety rules that apply to trains carrying flammable material to many more trains, saying the risk to many U.S. communities is far greater than currently known

The Independent UK

Aging U.S. railroad bridges are self-inspected and their findings are kept secret

A new investigation reveals the risks of railroads policing their own bridges

Benzinga

Is Warren Buffett's $347 Billion Cash Buying Railroads? Here's What The Oracle Of Omaha Said

Legendary investor Warren Buffett and his conglomerate Berkshire Hathaway Inc (NYSE:BRK)(NYSE:BRK) have made more than 50 acquisitions since 1970. A new report suggests that an acquisition in the railroad sector could be on the horizon for Buffett and Berkshire.

The Independent UK

Asbestos clinic forced to close in Montana town where thousands have been sickened by dust

An asbestos screening clinic in a Montana town where thousands have been sickened dust from a nearby mine has been shuttered by local authorities

Fortune

How Greg Abel may run Berkshire Hathaway differently than Warren Buffett

Abel is an accounting whiz who shares a lot of similarities with his mentor—and a few key differences.

The Independent UK

Thieves targeting freight trains in California and Arizona deserts make off with $2M worth of Nikes

Thieves have targeted freight trains running through California and Arizona in a string of audacious heists that have resulted in the theft of more than $2 million worth of new Nike sneakers

Latin Times

Cartels Are Now Assaulting Cargo Trains Inside the U.S. in Search of Electronics, Tools, and Sneakers

Gangs have been staging the operations in a vast stretch of land between California and Arizona

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