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Earnings at Buffett's Berkshire Hathaway fall 10%

Warren Buffett

Berkshire Hathaway's operating earnings fell 10 percent in its second quarter, hurt by a $38 million loss for its insurance underwriting businesses. That segment generated $411 million in profits during the same period last year.

Alibaba names ex-Goldman exec to head global expansion


Alibaba has appointed a former top Goldman Sachs executive as president of the group to lead the Chinese e-commerce giant's international expansion and lure in top global brands looking to sell their products via the world's second-largest economy.



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Tata Steel deal saves 4,400 UK jobs

Tata Steel has agreed the sale of its UK long products business to investment group Greybull Capital for a “nominal” fee in a deal that will revive the British Steel brand and could save 4,400 jobs.