Berkshire Hathaway Embroiled in Dispute and 2 Hot Stocks to Follow
Re-insurer Swiss Re and Warren Buffett-owned Berkshire Hathaway (NYSE:BRKB) are embroiled in a dispute relating to a 2010 life insurance deal, with the latter claiming damages of between $0.5-$1 billion. The two parties have met, but efforts to resolve the dispute have failed and this might lead to arbitration proceedings, as per Swiss Re’s third-quarter earnings statement, which disclosed the dispute but said Berkshire’s claim was without merit.
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In its ongoing efforts to shed non-core assets, General Electric (NYSE:GE) is looking to sell its Swiss consumer lending business, possibly by the end of the first quarter, says Reuters. Swiss bank UBS AG (NYSE:UBS) could be a possible bidder for GE Money Bank and the deal could be valued as much as $1.6 billion. A successful purchase would be in line with UBS’s strategy to refocus on the domestic market and wealth management business.
Intel Corporation (NASDAQ:INTC) intends to file a shelf registration statement with the SEC in respect of senior unsecured notes to be issued subject to market and other conditions. The proceeds of the offering would be utilized for general corporate purposes and for repurchasing shares of its common stock.
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