Berkshire recovers from coronavirus slowdown

Strong results: A BNSF rail terminal worker monitoring the departure of a freight train. The company’s profit surged as retailers replenished inventories. — AP

NEW YORK: Warren Buffett’s Berkshire Hathaway Inc on Saturday said many of its businesses are enjoying strong recoveries from the early depths of the coronavirus pandemic, fuelling rebounds in profits and revenue.

The company Buffett has run since 1965 also signalled the billionaire’s confidence in its future by repurchasing US$6bil (RM25bil) of its own shares in the second quarter, even as its stock price regularly set new highs.