Free Republic

New York (CNN Business)Berkshire Hathaway, the massive conglomerate run by billionaire Warren Buffett, posted a nearly $50 billion net loss in the first quarter -- the biggest loss ever for the storied company. Berkshire, which owns companies including Geico auto insurer, Burlington Northern Santa Fe railroad, Dairy Queen, Duracell and many other financial, industrial and consumer firms, has been hit hard by the Covid-19 pandemic. Just like the rest of the market and economy. The company said in a regulatory filing Saturday morning that before the coronavirus hit the United States in mid-March, many of Berkshire's businesses were posting revenue...

Obama calling for more infrastructure spending WASHINGTON (AP) - Vowing to find new ways to stimulate the sputtering economy, President Barack Obama will call for long-term investments in the nation's roads, railways and runways that would cost at least $50 billion. The infrastructure investments are one part of a package of targeted proposals the White House is expected to announce in hopes of jump-starting the economy ahead of the November election. Obama will outline the infrastructure proposal Monday at a Labor Day event in Milwaukee. While the proposal calls for investments over six years, the White House said spending would...

Microsoft (Quote) finally broke the $50 billion barrier for revenues in fiscal 2007 – and the company's financial team is predicting more of the same in the current fiscal year. For the year, which ended January 30, the company brought in $51.12 billion, up 15 percent from last year's $44.28 billion. For the fiscal fourth quarter, Microsoft chalked up $13.37 billion, a 13 percent jump from last fiscal year's fourth quarter revenues of $11.8 billion. As to the bottom line, Microsoft brought in a whopping $14.07 billion in reported net income for the year, an 18 percent boost from last...