Berkshire Hathaway buys 3% of Swiss Re - papers 24 Jan

Mr Buffett's Berkshire Hathaway – which owns General Re, one of Swiss Re's two biggest rivals – has taken a 3% stake in the Zurich-based giant and will take over a large chunk of its future business. The agreement frees up money that Swiss Re says it needs for share buy-backs, one of the only things propping up the share price since the company became embroiled in the sub-prime mortgage market meltdown. It also cements Mr Buffett's position as one of the big winners from the credit crisis. SOCIÉTÉ GÉNÉRALE, France's second-biggest bank, has revealed that one of its traders in Paris had co...