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Shell saves $600m on gas deal with Repsol

Royal Dutch Shell has saved $600m (£362m) on a deal to buy rival Repsol’s liquefied natural gas assets in Trinidad, Peru and Spain. The supermajor had agreed to buy the portfolio for $4.4bn last February, but will now only be spending $3.8bn on Repsol’s LNG work outside of North America.

Buffett's big day marred by spat with former aide

Berkshire Hathaway's annual meeting is normally a celebration of investment success, but this year was a little different

Buffett's fan club demands answers

Warren Buffett faces his investors in Omaha today. Stephen Foley reports

David Prosser: Buffett dropped a clanger when he backed Sokol so publicly

Outlook A month ago tomorrow, Warren Buffett, chief executive of Berkshire Hathaway and the world's most famous investor, issued a tersely worded statement. Mr Buffett announced the resignation of one of his most trusted lieutenants, David Sokol, as well as disclosing that Mr Sokol had owned shares in Lubrizol, a company he had recommended to his boss as a takeover candidate for Berkshire Hathaway – a tip that was acted upon. The resignation and the shareholding were unconnected, Mr Buffett said, insisting Mr Sokol had done nothing unlawful and adding that he would not utter another word on the topic.

Buffett deals out stinging attack on former acolyte

Warren Buffett, the billionaire investment guru, sent a thunderous message to his chief lieutenants last night: deceive me and bring my company into disrepute and I will fire you, humiliate you and perhaps even pursue you in the courts.

The Business On... Charlie Munger, Vice-chairman, Berkshire Hathaway

Warren Buffett's sidekick?

Warren Buffett and his search for a new superstar

The resignation of one of Warren Buffett's senior lieutenants has thrown open the race to succeed him, says Stephen Foley

Sokol defends share buys while working for Buffett

David Sokol, the man who had been expected to succeed Warren Buffett as head of Berkshire Hathaway, insisted that he did nothing illegal or unethical by buying shares in a chemicals company before recommending that the billionaire investor make a takeover bid.

David Prosser: Buffett has plenty more explaining to do

Outlook For a man renowned for his plain speaking and his dislike of corporate misbehaviour, the statement made by Warren Buffett on the resignation of his lieutenant Dave Sokol is remarkably opaque. The most disappointing paragraph of all in the three-page release issued by Berkshire Hathaway after the markets closed on Wednesday evening was the penultimate one. Mr Buffet said that since he had not held anything back, anyone asking about the Sokol affair in future would simply be referred back to the release.

Buffett's successor quits amid $3m share scandal

Warren Buffett's Berkshire Hathaway was last night plunged into a succession crisis, after the billionaire's assumed successor quit in a share-trading scandal.

Business Diary: Lloyds group bags former UKIP man

Lloyds Action Now, the pressure group that wants compensation for shareholders who have lost out due to the bank's takeover of HBOS, got a few headlines yesterday with its announcement of test cases against the Bank of England and the Treasury. But the Diary thought Adrian Lithgow, the group's spokesman, looked familiar. We were right: he is the same Adrian Lithgow who was forced to resign as head of communications for the UK Independence Party four years ago after pleading guilty to racially aggravated harassment and threatening behaviour. Lithgow got into a row with railway staff at Victoria Station in London, with a Yugoslavian member of staff suffering some particularly unpleasant abuse.

Buffett bags Lubrizol chemicals firm for $9bn

Just two weeks after telling his shareholders he had "reloaded" his "elephant gun" and was on the hunt for acquisitions, Warren Buffett's Berkshire Hathaway bagged one of the biggest takeovers in its history – a $9bn (£6bn) purchase of the industrial lubricants giant Lubrizol.

80-year-old Ecclestone eyes another decade

Red Bull and the ever-cheeky Sebastian Vettel presented Formula One supremo Bernie Ecclestone with a walking frame, equipped with steering wheel and front wing, as an 80th birthday gift last weekend.

Buffett anoints successor to manage his billions

Warren Buffett, who heads the beloved American conglomerate Berkshire Hathaway, has named an obscure 39-year-old hedge fund manager to oversee much of the company's money, making him the favourite to succeed the billionaire investment guru. For the past five years, Todd Combs has run a Connecticut hedge fund called Castle Point Capital, which withstood the financial crisis, despite investing almost solely in financial companies.

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