Berk’ $ surge
Berkshire Hathaway’s second-quarter profit rose 46 percent as the company was helped by investment gains, and strong revenue growth across its businesses. Class A shares rose to $176,500 yesterday.
Diaper change
A Procter & Gamble settlement of a consumer lawsuit over its Pampers “Dry Max” diapers was overturned by a US appeals court that called the $1,000 per child relief afforded customers “illusory.”
Saks sale suit
Saks investors sued the company and directors in New York state Supreme Court in Manhattan seeking to block the retailer’s $2.4 billion acquisition by Canadian department-store chain Hudson’s Bay Co.
14 mos. later
Facebook’s resurgent stock has closed above its IPO price for the first time since the online social networking leader made its debut on Wall Street more than 14 months ago.
Steve will wait
Steve Cohen, the billionaire founder of hedge fund firm SAC Capital, doesn’t oppose a request to delay the Securities and Exchange Commission civil action against him provided he is given prompt access to the agency’s investigative records.