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Berkshire eyes its biggest ever deal: Report

Reading The News

Berkshire Hathaway , the conglomerate owned by billionaire Warren Buffett, is close to a deal that may be its largest acquisition ever, according to a report in Saturday's Wall Street Journal.

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.

UBS said to close feeder fund

John Paulson

UBS shut down a feeder fund that provided wealthy clients access to billionaire investor John Paulson's Advantage fund due to the high cost of operating that portfolio, two sources said last week.

Allianz: 'The Bill Gross discussion has subsided'

Bill Gross Interview Pic

Chief financial Officer of German insurer Allianz said bond fund manager Pimco, which has seen record outflows since star manager Bill Gross departed last year, is still "the strong bond house it used to be", even as outflows continued at a rate of $32 billion in the second quarter of this year.