Amazon, Berkshire Hathaway, JPMorgan Chase to disband health venture

Haven, the joint venture between (L-R) Buffett, Bezos and Dimon's respective companies Berkshire Hathaway, Amazon and JPMorgan will disband. — AFP/combo file pix

Amazon, Berkshire Hathaway and JPMorgan will disband Haven, the joint venture aimed at lowering health care costs for their US employees, just three years after launching.

The announcement Monday means the three major American companies admitted defeat in their attempt to address one of the most vexing and longstanding problems for employers and employees alike in the world's largest economy.