GLOBAL MARKETS: Berkshire stock hits $300,000
Berkshire Hathaway Inc’s stock price touched US$300,000 for the first time on Tuesday, reflecting investors’ confidence in Warren Buffett’s conglomerate despite four straight quarters of lower operating profit.
Crossing the $300,000 threshold put Berkshire’s class A shares up 22.9% for the year, compared with a 20% gain in the Standard & Poor’s 500.
The gain occurred even though 2017 has been Berkshire’s second straight year of mediocre operating performance relative to prior periods. Reuters
IMF: Zimbabwe commits to economic reforms
The International Monetary Fund said the new Zimbabwean government has pledged that it will address an economic crisis to unlock international aid.
An IMF mission just concluded its first visit this week to the Southern African nation since the removal of former president Robert Mugabe, to assess the struggling economy, fund spokesman William Murray said at a briefing in Washington. The government’s unsustainable fiscal deficit and "severe" liquidity shortages, which fuel inflation, are hobbling the economy, he said. Bloomberg