Business titans line up to challenge gloomy reports on America's prospects

Outlook The problems of Connaught have prompted warnings that many more companies may be pushed over the edge by public-sector spending cuts. But while the private sector inevitably will take a hit as the Government pares spending, to blame the demise of Connaught on austerity measures would be to let the company off the hook far too easily.

Warren Buffett, "the Sage of Omaha" who turns 80 today, is one of the bidders seeking to buy Royal Bank of Scotland's Direct Line insurance business at a knock-down price. The European Union is forcing RBS, the state-controlled bank, to sell the division as punishment for taking public money during the financial crisis.

As he celebrates his 80th birthday, Warren Buffett shows no sign of slowing down. Stephen Foley looks at the secret behind the philanthropist's global success

The United States has proportionately more billionaires than Britain, in part because the income gap there is even wider than it is here. But that is no excuse for not embracing the idea of "The Giving Pledge", pioneered by champion investor Warren Buffett and the Microsoft founder, Bill Gates. It was launched barely two months ago, and there are already almost 40 American billionaires signed up to dispensing at least half of their fortunes, either during their lifetimes or after death. In this age of austerity, there seems to have been something in the Buffett-Gates challenge that appealed to the country's super-rich.

More than 30 US billionaires pledged today to give away at least 50 per cent of their wealth to charity as part of a campaign by investor Warren Buffett and Microsoft founder Bill Gates.

US Outlook: So it is "foregone conclusion" that Li Lu, Tiananmen Square student protest leader-turned-millionaire hedge fund manager, will be one of Warren Buffett's successors at Berkshire Hathaway, according to the Oracle of Omaha's right-hand man, Charlie Munger. Mr Li's good-but-not-great investment performance to date is supplemented with an appropriately sensational life story, plus obvious intellectual prowess.

When the super-investor, Warren Buffett, gave a chunk of his fortune to his son, Howard, there was one proviso: it had to be spent on charitable projects. Paola Totaro goes on the road with the billionaire philanthropist

Warren Buffett, the world's third richest man, has announced a donation of $1.9bn (£1.25bn) worth of shares to charitable foundations.

Warren Buffett has one of the bigger claims to having predicted the credit crisis, describing credit derivatives as "financial weapons of mass destruction" as long ago as 2002, but when he testifies before the commission investigating the crisis this morning he will not be playing his familiar role of avuncular investment oracle.

Outlook: The cost of mortgage funding in the current low interest rate environment continuesto squeeze all life out of margins in this business

The Berkshire Hathaway shareholders' meeting had its funny moments, but a serious question was in the air

Charlie Munger, the vice-chairman of Berkshire Hathaway, has long been billed as the supporting role in an extremely successful double act with Warren Buffett, but he has a huge following in the investor community in his own right. Mr Buffett has said in the past: "He's got a real fan club, but for good reason. I'm a member, too."

Warren Buffett, the billionaire investor known as the Oracle of Omaha, said he doesn't envy the winner of the UK general election, who will be faced with the need to make "politically very unpopular" decisions to cut the deficit. Speaking after his annual shareholder meeting, at which he dispensed nuggets of business wit and wisdom to a crowd of 40,000 faithful, Mr Buffett warned the next occupant of No 10 to fear the bond market, which could turn against the UK if public spending is not brought back into balance over the long term.