Results for: Berkshire Hathaway

HomeServices of America, owned by Warren Buffett’s Berkshire Hathaway, has reached a $250 million settlement in a nationwide antitrust lawsuit against the National Association of Realtors (NAR) and other brokerages. This settlement eliminates the risk of a larger payout after a jury awarded $1.78 billion in damages in a similar case in Kansas City, Missouri. The settlement requires court approval, and it is expected to bring about changes in how real estate agents are compensated. NAR had previously agreed to pay $418 million in settlement, leading to a combined settlement amount of over $943 million for the industry. This settlement will result in a $140 million after-tax accounting charge for HomeServices.

Chinese electric vehicle (EV) giant BYD, backed by Warren Buffett’s Berkshire Hathaway, is making a bold move into the luxury EV segment with the launch of its premium brand’s first sedan, the Denza Z9GT. The move comes as BYD aims to compete with global automakers like Toyota and Volkswagen and shed its image as a low-cost automaker. The Denza Z9GT joins Denza’s existing lineup of SUVs and multipurpose vehicles, which have contributed to BYD’s dominance in the Chinese EV market. The luxury push is also seen as a way to increase profitability amid a price war that is squeezing margins on mainstream models.

A federal jury has determined that BNSF Railway, a subsidiary of Berkshire Hathaway, contributed to the deaths of two individuals who were exposed to asbestos decades ago through tainted mining material shipped through Libby, Montana. The jury awarded $4 million each in compensatory damages to the estates of the victims, who passed away in 2020. However, punitive damages were not granted due to a lack of evidence suggesting intentional or indifferent actions by BNSF. The trial represents the first of several lawsuits filed against the railroad company over its previous operations in the Libby community.

A federal jury has ruled that BNSF Railway contributed to the deaths of two people who were exposed to asbestos decades ago in Libby, Montana. The jury awarded $4 million each to the estates of the two plaintiffs, who died in 2020. The jury found that asbestos that spilled in the rail yard in Libby was a substantial factor in the plaintiffs’ illnesses and deaths. However, the jury did not find that BNSF acted intentionally or with indifference, so there will be no punitive damages awarded.