Berkshire Hathaway posts massive $43.8 billion loss; operating results improve

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Reuters

(Reuters) -The slide in U.S. stock prices punished Berkshire Hathaway Inc’s bottom line in the second quarter as the company run by billionaire Warren Buffett posted a $43.8 billion loss. Berkshire nevertheless posted better operating results, as improved results from reinsurance and the BNSF railroad offset a loss from the Geico car insurer, where car parts shortages and higher vehicle prices boosted losses on accident claims. Rising interest rates helped Berkshire’s insurance units generate more money from investments, while the strengthening U.S. dollar boosted profit from the company’s Eur…

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