Berkshire Hathaway Inc. reported quarterly profits that almost doubled to touch record high. This mirrors big gains on its stake that the company has in Kraft Heinz Co. Operating profits dropped due to feebler results from insurance underwriting.
On Wednesday, Facebook Inc posted strong growth in revenue and profit for the quarter. The largest social network in the world is growing bigger with a larger user base as number of mobile users increase and advertising also lifted its stock to an all-time high.
In September, Volkswagen admitted that it illegally installed software in its eleven million diesel cars to cheat the emission test results. Since then the government agencies are running tests on all diesel passenger vehicles that run on the roads of the United States.
The data-storage company, NetApp Inc. headquartered in Sunnyvale, California reported a loss in the first quarter. In its 'transition year' as its executive call it, the product revenue dipped sharply as it went through a major overhaul in products.
The company logged $27 million costs that were linked to the restructuring which was announced earlier.
Earlier this year, the chief executive of Comcast Corp.'s NBCUniversal, Steve Burke, said that the media company requires to be on the spot light were the eyes will follow it by introducing added "digital" to its basic fabric.
NBCUniversal agreed to invest $US200 million in BuzzFeed and that's the biggest recent cash injection into the digital news quarter.