Warren Buffett's Berkshire Hathaway made a profit of $806m on lending Goldman Sachs $5bn to help the bank through the last financial crisis.
The bonus from backing Goldmans helped Berkshire take its profit after tax to $3.42bn in the second quarter, up from $1.97bn the year before, the Telegraph reports. Berkshire also revealed it had increased holdings of foreign government securities by 9% to $13.3bn. Buffett's investment company is anticipating the nine-figure profit it can collect from October when a $3bn loan to GE matures. Berkshire's book value, a measure of assets minus liabilities, also rose in the three months to $163bn from $160.1bn on March 31. The group is a further step into its recovery since recording...
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