The class A shares of Warren Buffett’s Berkshire Hathaway group closed above $500,000 for the first time last night. After rising for a fourth straight day with a gain of $5,876, or 1.2 per cent, shares in the Omaha-based investment company closed at $504,036, a rise of more than 11 per cent this year. The company’s operating earnings, which covers a range of businesses owned by the conglomerate such as insurance, railroads and utilities, rose by 45 per cent in the fourth quarter of last year.
Trade talks with US
Britain and America announced a new series of transatlantic talks aimed at deepening trade and investment ties and boosting the £200 billion relationship. Anne-Marie Trevelyan, international trade secretary, and Katherine Tai, the US trade representative, will be among those gathering at the joint UK/US Dialogues on the Future of Atlantic Trade, with the first talks starting in Baltimore, Maryland, next week and the second due to take place in the UK later in the spring.
Contactless sales rise
The amount spent via contactless payments has increased by nearly 30 per cent since the new higher limit was introduced in October 2021. Before the increase of the limit, the average contactless purchase was £11.86, which rose to £15.30 in December 2021. The contactless limit increase — from a £45 limit to £100 — was announced by the chancellor in March 2021 and was intended to encourage spending. The total spent via contactless transactions rose 46 per cent to £165.9 billion.
Young’s chief drinks up
Young’s has confirmed that Patrick Dardis will step down as its chief executive after 20 years at the pub group. Simon Dodd, the chief operating officer, will replace him after he leaves at the annual meeting on July 5. Dardis, 62, who has been chief for six years, will remain on the board until September, when he will retire. Dodd was on the board at Fuller’s, the rival pub operator, when he was recruited three years ago with the potential succession plan in mind.