from the standpoint of investing berkshire's capital. i will pay more -- >> you don't like treasuries you mean? >> well, they're a big, big, big drag on returns. >> right. >> and i will pay more for businesses when they are this low after i've sort of become used to this. i don't think it's unthinkable that they stay low for a very long time. and by low i mean 100 basis points higher than where they are now. and it's it's the big variable for investors i think. >> you said you have a range in your mind that you kind of keep out. what is your range that you're thinking now for how many years? >> i would say that anybody that prefers bonds to stocks is making a big mistake. i've been saying that year after year after year. i don't -- i won't say that under all circumstances. but, it is ridiculous in my view for somebody to buy a 30-year bond and some countries 50 year bonds and so on, at these rates, in preference to buying stocks. stocks will bounce around a lot more and they can go down 50% but a 30-year bond can go down 50%, too, at the

mostly berkshire hathaway that i distributed pro rata to everybody. david: ok. and then you started buying more stocks through the vehicle berkshire hathaway? mr. buffett: stocks and businesses. yeah. david: what would you say is the reason for your ability to do this? was it that you studied the companies more than anybody else? you stuck to your principles? that you were smarter than other people? people were just caught up with fads, and you did not get caught up in fads? what would you say is your reason for success? mr. buffett: the first two were an accident. we bought businesses that we thought were decent businesses at sensible prices, and we had good people to run them, but we also bought marketable securities in berkshire. over time, the emphasis shifted from marketable securities over to buying businesses. david: what was the theory behind buying a railroad, because people thought they were fossils as businesses? mr. buffett: the railroad had a bad century. they were kind of like the chicago cubs. everybody has a bad century now and then. ♪ ♪ davi

three hours with berkshire hathaways warren buffett live from berkshire's annual meeting, plus charlie munger and bill gates will sit in for the 8:00 hour. that's monday at 6:00 a.m. eastern on "squawk box." predictable is one thing you need in retirement to help protect what you've earned and ensure it lasts. introducing brighthouse financial. a new company established by metlife to specialize in annuities & life insurance. talk to your advisor about a brighter financial future. i can't wait for her to have that college experience that i had. the classes, the friends, the independence. and since we planned for it, that student debt is the one experience, i'm glad she'll miss when you have the right financial advisor, life can be brilliant. ameriprise it's been over 100 years since the first stock index was created, as a benchmark for average. yet a lot of people still build portfolios with strategies that just track the benchmarks. but investing isn't about achieving average. it's about achieving goals. and invesco believes doing that today requires the art and expertise of high-convi

berkshire is the largest owner in many of these airlines. also also be joined by charlie munger and bill gates for the 8:00 hour. that is monday at:00 a.m. eastern. >>> in other washington news, president trump says he is considering breaking up the nation's biggest banks. it's a promise he made on the campaign trail but put it on the back burner. major averages slipped and rebounded on the news, while government bonds hit the highs of the day. bank stocks dipped and then rallied with investors taking a win-win view that breaking open

at has he has sold about one third of berkshire's investment in ibm. isning us with more bloomberg editor-at-large cory johnson. how has he done with his ibm investment -- not that he ever really lets at returns, right, because he typically holds something ever. but not this case. cory: this was a stock trade that did not work out for him. he talked about it glowingly in the annual letter every year. we can see the holders in berkshire, this great little chart -- you click on the holding and see how he did. you see his position growing as the stock is rising. he is adding to his position. start adding even more. fundamentally, it was a trade that did not work out for him. vonnie: nothing for a game to worry about, they could completely ignore it -- naahhh -- cory: buffett has said things about technology sort of suggesting he doesn't get technology. what we saw with ibm is a company that was just not growing. it is a company that was changing -- ibm announces strategy of a big shift to go from selling a lot of low-margin products to fewer high-margin p

she married james matthews in berkshire. new rules for cigarette packaging come into force this weekend. all packs must be greenish—brown withjust a small space for the brand name and include a graphic warning of the dangers of smoking. the measures, aimed at discouraging young people from taking up the habit, also include a ban on selling packs of ten. tom burridge reports. persuading young people not to smoke. that's what the government hopes these new rules will do. from today, all cigarette packets have to be a standard green design, similar to this. health warnings must cover two thirds of the front and back of the packets. and you can no longer buy packets of ten. there will also be restrictions on e—cigarettes and on rolling tobacco too. public health campaigners say the number of people smoking in britain continues to fall and this is another positive step. it's too early to say how many will avoid taking up, but even if it's just a few percent that will have a big benefit in 20 or 30 years' time. but the tobacco

nobody cares. >> good for berkshire. >> by design. >> exactly. >> i know. by the way, the companies i tend to admire more are the ones who are not working quarter to quarter. >> look at amazon. >> amazon. my wife's employer, alphabet/google, no, no, there are companies -- and by the way, you know, the market -- the big difference is, not so much -- well, big difference is that none of the companies have to raise capital. it's not that -- it's not a big deal for them. >> a big difference is for berkshire, it's arranged to be a tremendous tally on the economy, never used to be. 3.5% growth is okay. >> in a 2% economy. >> yeah. outperforming the economy. >> more after this. warren weighing in on apple's earnings, prospects for the new iphone, and whether he owns one. plus, snap shares up more than 30% since the recent ipo, and investors get the first earnings report as a public company. next week, a little preview still to come. onvenience. i finally switched to geico. oh yeah? ended up saving a ton of money on car insurance. i hear they have a really great mo

revenue for berkshire hathaway came in above forecas. that would have been a gain of 14%, number on the forecast. fact that revenue comes in 65.19, is big increase from this quarter last year. and total shareholder equity, how much value berkshire hathaway has, in hands of its shareholders. 296.3 billion dollars. still coming out with the break down to see why the earnings per share missed by such a wide margin. we know that berkshire hathaway is telling us this has a 27.8 billion stake in wells fargo, that controversial, warren buffett took heat from criticism because of scandal involving the fake card accounts and overall accounts that is something he will be asked about tomorrow, among many other topics, the headlines are streaming across the screen, a lot on get into. david: thank you very much, $250,000, that is not a mistake that how much one share costs. melissa: amazing. >> they were a hundred bucks a share back when. melissa: open season for airlines, kicking parents off flights. getting rid of leg room, there has never been a m

berkshire got out of the entire gear, since then, shares roads 2 to 3%. then there is fundraiser, where almost the entire stake dissolved arc decent call here t. stock has fallen three to 4% sense we learned of those sales. there are lots of different ways to profit. warren buffet made a career out of methodology. it's not the only way to make money out there. back over to you guys. >> thank you so much, dom chu in the newsroom. do you sell when warren buffet sells and what do you think of ibm? >> no, i think it's dangerous to sell when ier anybody sells. warren buffet is such an amazing long-term investor. when you think, they haven't been great. that's not his point. that's not his angle. when i think about it and i look at the berkshire portfolio and those that have moved and haven't, i think the addition of the airlines seem to be those of the first quarter, delta, southwest, american, are all places where they are heavily invested and i think these are places where the valuation and the business cycle and economic cycle for me. >> one of the most rem

the berkshire hathaway meeting just finished. foxbusiness is the owner -- only post boardroom meeting. >> give me the headline you just ran out of the meeting. it was a pretty consistent place over time. i guess they rehired me. and i hope that some big news. there was an entire section this weekend in the omaha world herald which you own by the way that was entitled after warren. it is a subject we spent a lot of time on. usually not today that would be the one that we would spend the most time on. you kind of gave a little window you said maybe my successor might take over while i'm still alive. at some point you're not out of there. and i know what that record is but i don't want to break the record. what changed about the succession plan in the meeting today. it just so happens that the present choice as that. there is no reason why a female can do this job. it was a wonderful woman. we should look at berkshire hathaway. down half a% right now. in the wake of earnings it fell short of analysts expectations. it sat at $247,163

becky quick is live there, berkshire's temporary headquarters for the weekend in omaha, nebraska, with details, especially on ibm. >> thank you very much. we talked to warren buffett about ibm, apple, a lot of different issues but let's start with ibm. warren buffett says the case for ibm doesn't make quite as much sense to him as it used to. he told us last night that he went ahead and sold about one-third of the position he held in big blue over the first and second quarters. that's pretty shocking because berkshire hathaway was the largest shareholder and shares of ibm that controlled about 9% of the shares outstanding. buffett told us they went from 81 million shares down by 25 million. they still hold more than 50 million shares, which means there is still a major shareholder. the news is coming out next week, his hand would have been forced with an s.e.c. filing of 13-f filing that was going to be coming out. he told us about it now because he didn't think he could go through the shareholder meeting and not be forth right with telling people what was going on. you see where the s

stay with us because the oracle of omaha, warren buffett at the berkshire annual made in and comes out swinging against the plan for border attacks. >> yamagata companies in the end that gets hurt. the selected sales tax. cheryl: liz claman, more from omaha. you are watching "fbn:am," your first look at morning markets and breaking news. tree and 35:15 a.m. here in new york in the future caught up what's happening now. francis cheryl: former investigator. the pro-european union centrist emanuel macron defeated the right-wing candidate marine le pen. seen as a projection. emanuel macron promises to unite a divided france. paul ryan at the health care bill over the weekend. critics charge in the bill was rushed through with little debate, that sour grapes from the last call to the rescue mission. cable giants comcast and charter predications will announce a wireless partnership today. the companies would share information about wireless phone services and negotiate with phones come equipped service providers. the bill reportedly preventing comcast and charter for making t consent for one

berkshire shareholders expected to be coming to the area. again, this is not like your average annual meeting. jerry, not too far. come a little closer. this is not like your annual shareholders meeting. this is a bit of a zoo. guys, no closer. no closer. coming back. again, the conference -- the center is about to open up and it is going to get a little chaotic. maybe we can come back once they let all the people in but even just with the employees here it is a bit of a scene. scott, we've been talking about a lot of issues as we head into this annual meeting and there's news that happens. this time around mr. buffett surprised us with some news he has been working to sell shares of ibm. he sold about a third of the holdings they had for ibm in the first and second quarter of this year. that turns out that they had 81 million shares at the end of last year. he sold about 25 million shares or so. huge news because this is the biggest shareholder in the stock or had been. still owns about 50 million shares north of that and i'll tell you real

our correspondent alexandra mackenzie is in englefield in berkshire for us now. well, you have joined well, you havejoined us at quite well, you have joined us at quite a good time. just looking through the trees beyond us, we have seen a card draw up and we are wondering if it's the car that will take on the middleton from the church. as you say, they went in half an hour or so ago. the wedding service has been underway. the wedding of the middleton and james matthews which has been very much anticipated in this small village in englefield. there has been a lot of participation here. behind me there area participation here. behind me there are a lot of local people who have had more access they can see some of the guests coming and going. some of the guests coming and going. some of the people they saw web princess usually need, beguiled friend of james middleton, pippa middleton's brother, roger federer and his wife also arrived. then a lot of people came here because of the royal connection, hoping to catch a glimpse of the duke and duchess of cambridge and th

our correspondent alexandra mackenzie is in englefield in berkshire for us now. those celebrations are continuing, no doubt. tell us more about what you saw, the dress, the excitement. yes, all very exciting here, the celebrations are continuing. i don't know how much you can see behind me but the guests are just leaving englefield house, those who were at the church service. they have been at the reception and now it looks like they are continuing those celebrations on to the middleton family home which is just six miles from here. if you joined us a few minutes earlier we got a particularly good view of the newly married couple, pippa middleton and james matthews. there was a lot of cheering behind us, something is going to happen and we saw an open top car rolling down the road past us and indeed it was the middleton and matthews in the car. the photographers were delighted and we got a good view of the newly married couple. a lot of excitement here and thatis couple. a lot of excitement here and that is likely to continue for the next few hours. we've got to

, grey skies and buttercu ps buttercups in west berkshire, grey skies and buttercups here in belfast, so you can see the contrast we have had across the uk, and put the map up, you can see how we have more cloud across scotland, moving away from northern ireland, some rain heading its way towards the northern isles. skies will clearfor many of us except for wales, the south—west, towards the channel islands, increasing amount of low cloud will keep temperatures here, a bit chilly overnight. very different look to the weather, across south wales, the south—west of england, missed and hill fog, spot to drizzle, lapping its way into the channel islands, southeast, east anglia, nice and bright and sunny to begin with, keep an eye on the cloud thatis begin with, keep an eye on the cloud that is wandering across wales into the midlands, further north, more sunshine to begin the day, except for the northern isles, the last of the rain to clear the way from shetland, one or two showers possible in scotland, western parts, but generally, a fine day, sunshine coming and going across the vas

you saw with the rail traffic, berkshire owns the railway. you sell the traffic rebounding in the first quarter. i think a lot of people are expecting slightly better numbers there. but berkshire hathaway shareholders are long-term thinkers. they are not too interested in one quarter's results. they want to see what profits can do over the long haul. you have seen how many more chinese it seems every year ago to listen to him. in terms of investment in china and asia, we know about byd. has he found anything more in asia? >> that is a great points. as i landed here at the airport this year, you see a lot more chinese speakers. the interest is definitely there. as you point out, there is not a lot of investment that has been going into china with the exception of byd. when you look at that investment, on the scale of the berkshire balance sheet it is not a lot. there is a lot of interest of their. whether that is translating into action so far, that story is not quite materialized. know how popular warren buffett is in china. is that the big r

this comes ahead of berkshire's annual shareholder's meeting which kicks off tomorrow in omaha. becky quick is there again. i don't know how many years this has been, becky. i'm curious, of course. but you have the highlights of that very important corporatinvn as well for us. >> i looked it up the other day this is the -- it was 12 years ago that i first came here. i guess this is about 13 times. maybe i missed one or two meetings in there, but it has been a while. this was big news today because berkshire hathaway was the biggest holder of ibm shares and buffett has been the biggest defender of ibm as it's continued to come in with quarter after quarter for 20 quarters in a row of declining revenue. in fact, that declining revenue is part of the reason that buffett decided to sell. >> it's based on a lot of different types of businesses but the earnings have been obviously disappointing. i mean, five or six years ago, i think they were earning 20 plus billion pretax and now it's $13 billion and the quality of earnings hasn't improved. it has been a period when i'm sure that it

she married the financier james matthews in berkshire. in sport, millwall hope to make it second time lucky in the league i play—off final. they play bradford city at wembley with a championship place at stake. it is still goalless, 56 minutes on the clock. saracens are at exeter in the clock. saracens are at exeter in the premiership play—off semifinal as they continue their quest for the double—double by winning european and domestic titles in successive seasons. exeter currently lead 13—11. england fast bowlerjames anderson will miss the remaining of lancashire's county championship match against yorkshire. he limped off with a groin injury and will have a scan on monday. england's first test against south africa is at lord's onjuly six. more from you at around 5:30pm. —— more for you. labour leaderjeremy corbyn has insisted his party is committed to trident. it comes after shadow foreign secretary emily thornberry suggested the party could abandon its support for the nuclear deterrent after a review. but shadow defence sec

and amex representative says berkshire is not buying additional shares but is applying to retain the stock. ofhas been growing because amex stock repurchases. it sought approval for $4 billion worth of shares this year an additional $1.7 billion this year. shares of the largest duty-free retailer jumped today after a makerluxury goods bought a 5% stake. betting in changes of technology allow people more travel time. ducati is attracting private interest from private equity firms as owner volkswagen considers a sale. that is according to people familiar with the matter. ducati could be valued at more than a billion dollars. a sales process could kickoff in the next few weeks. cory johnson sat down with and the virgin sports ceo at an event in san francisco. branson said he may get back into the u.s. airline business months after alaska airlines said it would dump the virgin america brand. branson has tussled recently with alaska about how long they will pay royalties to use the virgin name. alaska merged with virgin late last year and this march said it plans to retire the brand in 20

berkshire hathaway is holding its shareholder meeting this weekend. liz: people were waiting to hear how the result came out. when it comes to a company that's 50 years old. we are looking at the earnings. they had operating profits down 27%. a lot of that had to do with a big decline anyone investment gains. but his other companies, the surprise was that burlington northern, his big railway did very well. it helped propel the earnings a lot higher. so this was one of his big operations. you can see the toy trains bring in gigantic money when they are real trains. there was a cyclone in australia, but revenue still beat overall for berkshire. $65 billion in revenue the estimate. 's a lot of money. liz: you have got big interviews coming up monday, what's going on. reporter: it's great to be with the richest men and the richest minds on the planet. bill gates is on the board, he's on microsoft. those three, we'll talk about everything from the economy to what's going on politically. warren buffet supported hillary clinton, but since donald trump won hi

berkshire ceo warren buffett warning on "squawk" that buying bonds over stocks is a big mistake. buffett telling shareholders this weekend that our next guest has quote probably done more for the average investor than any man in the country. joining us this morning, vanguard founder and former ceo, jack bogle. jack, what a nice contribute over the weekend and we would be doubly remiss if we did not wish you a happy birthday today. so happy 88th. >> thank you, carl. when warren announces it to the world, a lot of people find out. >> he called you a hero, man. i mean, how do you take that? >> well, i mean, to be called a hero by a hero gives it more credibility than being called a hero by a non-hero. but i already written him a letter this morning of thanks. i'm not a hero. i'm an ordinary guy who gave a damn about the people who were investing. i wanted to make sure they had a fair shake. if that's heroism, well, so be it. >> yeah. >> but it was wonderful to be out there. >> you had a lot of occasion to talk over the weekend about say the level of indexing and at what point that g

and it's being billed as the wedding of the year — we'll be live in berkshire where pippa middleton will marry james matthews later this morning. now on bbc news, it's time for the travel show. coming up this week on the travel show. we head to israel to meet a theatre group with a difference. the concept of every wardrobe is to take the disability and create an ability from it. we are on the night patrol at london zoo. this month's global guide features a stunning light show in sydney. and i leave the airport for a couple of hours to take a high—speed stop off tour of rome. it is a lot of stuff to see in a short time. can we do it? yeah! let's go! theme song plays. we kick off this week with a truly unique theatrical phenomenon. one way the actors overcome some of the hardest hurdles you could imagine, and yet produce incredible performance ismight based in israel, nalagaat, meaning please touch in israel, is the only deaf, blind ensemble. and we are going one hour out ofjerusalem to meet the groundbreaking group. jefa is one of the oldest sea ports in the world. it is so old, they sa

we're going through not just 3g but other stocks that berkshire hathaway owns. and then including apple. american airlines, american express, coca-cola, kraft and 3g. ble we're going to talk about the fed and interest rates. at 8:00, when question sit down, a bit of a summit. three of the most intelligent and informed people out there when it comes to issues like health care. when it comes to issues like health care reform. and philanthropy. it is coming up in about eight minutes. guys, you don't want to miss that. >> sounds like an interesting summit, becky. what did warren buffett say -- had that comment about plumbers versus hedge funds -- what was that about? >> well, you know, he's been a longtime believer in the idea that average investors are not going to be getting a good deal from the hedge funds or, frankly, from any fund that's charging a premium for performance. his point is there are only a few number of managers in the worlds 10 to 12 people that he has met in his lifetime that he thinks can beat the averages over a period of time. an you're paying

she's marrying financier james matthews in a ceremony in berkshire. thank you for your company over the last few hours. sophie long will be here at the top of the hour. now on bbc news, sir ben ainslie‘s team will continue their bid to win the 35th america's cup when they race in the final qualifying stages of this year's event next week in bermuda. natalie pirks has been behind the scenes to look at their preparation. sir ben ainslie is the most successful sailor in olympic history. but since the first race in 1851, no british team has ever won the america's cup. personally, i think everyone in this team it would be the biggest achievement if we could pull this off and win the america's cup for britain. it is 166 years to pursue a trophy that we made and challenged the world. and we have never won it. sometimes in life, there is a right time. this is the right time. this is the best chance britain has ever had at winning the america's cup. i think it is a very, very competitive sport. we have a lot of respect for each other. but we want nothing mor

. >>> warren buffett is the cho of berkshire hathaway, the world's second richest man, and one of the most successful stock market investors. when i sat down with the oracle of omaha earlier this week i asked what makes the most sense for people right now when it comes to saving for retirement. >> i think it's the same thing that makes most sense frankly all of the time, and that is to consistently buy an s&p 500 low cost index fund. keep buying it through thick and thin, and especially through thin. because the temptations get -- when you see bad headlines in newspapers, maybe to say well maybe i should skip a year or something. just keep buying. american business is going to do fine over time. so you know the investment universe is going to do very well. the dow jones industrial average went from 66 to 11,497 in one century, and since that century has ended, it's more or less doubled again. american business is going to do well. the trick is not to pick the right company, it's to be -- because most people aren't equipped to do that. and plenty of times i make mistakes. the trick is

she married the financier james matthews, in berkshire. hassan rouhani has been re—elected president of iran for another four years. mr rouhani won 57% of the vote, easily beating his conservative challenger, ebrahim raisi. in a tweet, he said the "people are the real winners of this election". kasra naji has this report. president hassan rouhani, the winner of the election by a wide margin. he had promised not to let the hardliners take the country backwards. he had promised to steer the country towards moderation. this is him in his first televised victory after his victory. translation: yesterday, you said no to all those who were inviting us to return to the past or remain stuck in that present. you have put iran back on the road to progress. almost all the votes have now been counted, more than a1 million of them. the iranian people have said a resounding no to the islamic hardliners by voting in droves for president rouhani, running for a second term in office, in a landslide. at the interior ministry in teheran, a sigh of relief t

she married financier james matthews in berkshire. home ownership among younger families has fallen by nearly two thirds in some parts of the uk since 1994, according to new research. the resolution foundation, a think—tank focusing on living standards, says outer london, the north west and parts of yorkshire were most affected. our business correspondent joe lynam has the details. it's usually assumed that soaring house prices in central london would have the greatest impact on affordability for younger households. but the resolution foundation says the north of england and outer london have been affected the most. it says home ownership among young families has fallen 63% in outer london towns, such as harrow and croydon. in west yorkshire, ownership fell by 52% among families with adults between 25 and 3a, while the fall in greater manchester was 51% between 1994 and last year. a lot more families are living in the private rental sector, which is expensive, insecure, and often not a very nice place to live. but it also matters lo

the duke and duchess of cambridge are in berkshire this afternoon for the wedding of kate's sister pippa middleton. prince george was one of the pageboys while his sister charlotte was a bridesmaid. our royal correspondent, nicholas witchell, is in englefield. yes, well there's nothing quite like a wedding, is there? there is nothing like a middleton family wedding. this one involves kate's youngest sister, paper who is getting married to james matthew —— matthews. he runs a hedge fund. this being a middleton family wedding there were a sprinkling of celebrities like roger federer and the royals. harry is not with his girlfriend, meghan markle, and the youngest of the royals, george and charlotte, where among the page boys and bridesmaids. george arrived with his sister, charlotte. he is three and she is too. with their mother, they were taken into the church to perform their respective roles. a few moments later, the bride herself arrived with her father, few moments later, the bride herself arrived with herfather, michael middleton, in an open topped car. a lot of people want to kn

and it's being billed as the wedding of the year — we'll be live in berkshire where pippa middleton will marry james matthews later this morning. good morning and welcome to bbc news. president trump has arrived in saudi arabia this morning, but he leaves behind more controversy in washington. the us media is reporting that he told senior russian officials that the fbi director, james comey, was a "nutjob" whose sacking had "relieved great pressure" on him. anisa kadri reports. a red carpet welcome for president trump, who's touched down in saudi arabia. he was met by the king, on his first foreign visit since taking office. he tweeted that he will be strongly protecting american interests, that's what i like to do. but he might be glad to leave washington for a while, after the week he's had. it started with the accusation that he'd leaked classified information to the russians. then reports of a memo which claimed president trump asked the fbi director to drop an investigation into his former national security advisor, michael flynn. the next day, it was announced that a special counci

she married the financier james matthews in berkshire. sport now, and a full round—up from the bbc sport centre. good evening. let's start with rugby union, and exeter put an end to saracens' hopes of a double double by beating them in a dramatic premiership play—off semifinal. saracens were hoping to retain both their european and domestic titles, but a late exeter try means they're through to the final with an 18—16 victory. hannah lupton reports. saracens have a swagger in their stride, back—to—back european champions and now moving in on the premiership title. at a stormy but welcoming sandy park. amongst their ranks the european player of the year. as usual, 0wen farrell accurate with his angles. 6—6, all square at the break, exeter had the momentum, the wind behind them, and with the force of jack nowell, a try and a crucial lead against a side who had beaten them last year in the final. yet sarries are supreme hunters, and as they chased the game, and survival instincts kicked in. this imaginative improvisation left the

berkshire still owns more than 50 million shares of ibm. buffett saying with shares trading below $60, he has stopped selling. becky will join us in about a half hour's time. >>> the french go to the polls this sunday to choose their next president. this election has wider implications for the future of the euro and europe. one candidate wants to keep france in. the other has campaigned to abandon it. michelle caruso-cabrera joins us live with the latest as we look forward to sunday. good morning. >> yeah. this election is so consequential that even former u.s. president barack obama has weighed in and endorsed a candidate, emanuel macron who favors greater integration with europe. >> i know you face many challenges, i want all of my friends in france to know how much i am rooting for your success. because of how important this election is, i also want you to know that i'm supporting emanuel macron to lead you forward. >> these final days of campaigning have seen both candidates come under attack. macron has been booed and heckled as he vis

he works his way around the floor where he has all of the cis plays of companies that berkshire owns, dairy queen, froot of a loom, precision car parts, he spends the most time at the railroad, burr -- burlingto, no northern, that's why they see many shipments of coal, safety issues and all kinds of regulation. i system -- asked him. he bought precision car parts. have, listen.y does he really liz: your cash pile, it was $89 billion, what is it going to be going into the meeting today? >> well, it looks like cash every place and treasury bills, it's well over 90. it's going to be as much as 94 or 95. liz: 94 or 95 billion. would you commit half of that to acquisition if it's the right one? >> yeah, sure, more than that that. liz: i started to hear from a lot offers because they are the guessing game and the palace intrigue. many came with an interesting theory on where he would spend half of that pile. he's a large shareholder of coke, he owns millions and millions of coca-cola shares. the hot seller was the coke bottle that's selling very hot in china with his picture on it. they put

she married the financier james matthews, in berkshire. labour leaderjeremy corbyn has insisted his party is committed to trident. it comes after shadow foreign secretary emily thornberry suggested the party could abandon its support for the nuclear deterrent after a review. but shadow defence secretary nia griffith said ms thornberry was wrong and that labour's position on trident was settled. speaking in birmingham, mr corbyn said the party's manifesto was decisive on the issue. the manifesto makes it clear that the labour party has made a decision, it is committed to trident and we are going to look at the real security needs of the country on other issues such as cyber security which the attack on the nhs proved, there must be a serious re—examination of our defences against those attacks. just to be clear, because there was a different view from emily thornberry saying that it was a review and things could change. i've made it clear, i've included it in the manifesto, a commitment given by the party and by me that we will also pursu

he is just that kind of person who feels, he said this too, doesn't matter who is president, berkshire will do brilliantly over time. neil: apparently he has. i look forward to it, lizzie. thank you, very, very much. it is coming up, in less than two hours from now, the signature interview with these guys. monger is an interesting guy. he reminds you of a guy who is happy to turn you down for a loan. i could just have that problem. liz, thank you very much. "guardians of the galaxy," fox business network, think about that. we're going to connect. i want you to decide. >> just sword for your thing, gun for mine. i guess we're both doing guns now. i didn't know that. ♪ there's nothing more important than your health. so if you're on medicare or will be soon, you may want more than parts a and b here's why. medicare only covers about 80% of your part b medical expenses. the rest is up to you. you might want to consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like any medicare supplement insurance plan, these help pick up some of what me

scarlet: berkshire hathaway 2163.ed first -- if you look at the range of estimates, berkshire's first-quarter eps misses the lowest estimates. in terms of net income, i am looking for the business lines. earnings did increase. underwriting revenue operating -$263 million. shares not moving a lot in after-hours trading, off 2/10 of 1%. the shareholders meeting is this weekend. likely facett will questions about his stakes and airlines and wells fargo and ibm. investors will vote on resolutions he opposed, including such are halfway disclosing political donations and holdings in companies that produce fossil fuels. joe: always love hearing the folksy wisdom out of omaha. julia: we look for quotable moments. scarlet: a professor of economics at uc berkeley, we get his thoughts on the house's obamacare repeal bill. this is bloomberg. ♪ joe: "what'd you miss?" house republicans finally got what they wanted for seven successful vote on the repeal of the affordable care act. how big of a win was as for the trump administration, and what will come next? i want to bring in brad delong, professor of

liz claman sitting down with the men behind berkshire hathaway, what warren buffett and bill gates told her about president trump and the economy. that's coming up next. ♪ online u.s. equity trades... ♪ ...you realize the smartest investing idea, isn't just what you invest in, but who you invest with. ♪ listen up, heart disease.) you too, unnecessary er visits. and hey, unmanaged depression, don't get too comfortable. we're talking to you, cost inefficiencies and data without insights. and fragmented care- stop getting in the way of patient recovery and pay attention. every single one of you is on our list. for those who won't rest until the world is healthier, neither will we. optum. how well gets done. . david: we are still monitoring these hearings on capitol hill. nator trick leahy from vermont is doing the questioning right now. that, of course, is sally yates, former acting attorney general, james clapper is on as well with her, the fermer head of intelligence for the united states. there is senator leahy. clapper denying he leaked any classified information to the media. sa

berkshire is wells fargo's largest shareholder. what warren buffett said, he understands the first mistake. it is the second mistake that the second the ceo finds out this is happening, there was no discovery. heather bresch was one that drove much of this, then you fix it. especially if you have a pr maelstrom going on here. what do we need in the health care plan that the house just passed, that the senate may change would maybe keep this kind of thing in check? >> first of all i don't think it was mistake on the part of mylan. this was very intentional to jack up price of these drugs on kids. when it comes to companies like this one monopoly in place. barriers to entry are very high. companies trying to bring auto-injectors on the market, was restricted mylan filed lawsuits for patent infringement. everybody day they were able to delay another company coming on the market they earned an extra $3 million. they used the legal courts to try to prevent and block competition. so i think, if we're going to have a competitive marketpla

the world's media gathers ahead of pippa middleton's wedding in berkshire today. in sport, a power struggle at arsenal. arsene wenger‘s biggest backer, rejects a £1 billion bid for control of the north london club. it's fast and furious — and i found it a bit of a struggle. i've been trying out wpter polo ahead of the british championships. and philip has the weather. good morning to you. for some, the weekend is starting looking like this, but at the same time, others are looking at this. i'll tell you who gets what, where and why in a few minutes. good morning. first, our main story. in the last few moments, president trump has landed in saudi arabia on his first officialforeign trip since taking office. but he leaves behind more controversy in washington. we can see some of the live images right now, coming from saudi arabia. can you see the flags of the official preparations, as the plane landed; three or four minutes ago. they've been rolling out the red carpet, the steps are prepared. we're expecting donald trump to emerge any minute for what is a very

. ♪ emily: ahead of its annual shareholder meeting, berkshire hathaway's ceo announced he would be -- ceo warren buffett announced he would be tricking his influence. one point trading at its lowest level since november. johnson i bring in cory in new york. what is your read on this? cory: the fundamentals of ibm are not the kind he likes. he is not afraid to step into a business to turn around and make progress. if you look at ibm's progress -- his first purchase was of a lower-level. he bought a lot of stock when it was at its all-time highs in 2012 and 2013. it has been a money losing position for warren buffett, a difficult one. the corporate results reflect a business that is contracting, not growing, which is what buffett wants. emily: how much has he lost? cory: we do not know what he has paid for the stake itself. fundamentally, it is a 's business.f ibm if you look at the sales figures, they have been drinking every year. grow the bottom line. but if you look at the even audit growth, there is not been any. it has been falling 5%, 7%, 11%. it is not only getting worse, but wo

berkshire is the largest owner in many of these airlines. also also be joined by charlie munger and bill gates for the 8:00 hour. that is monday at:00 a.m. eastern. >>> in other washington news, president trump says he is considering breaking up the nation's biggest banks. it's a promise he made on the campaign trail but put it on the back burner. major averages slipped and rebounded on the news, while government bonds hit the highs of the day. bank stocks dipped and then rallied with investors taking a win-win view that breaking open the banks would offer smaller firms opportunities. when that headline crossed, you saw the immediate reaction t lost a half percent on the s&p financials. >> but time stopped within the corner offices of wall street at the same time. the algos did this, but within big wall street, there was a freak out moment. >> until they went back and looked at it and realized this is not something he was intending to roll out or talk about. we heard some of these issues already from steve mnuchin. >> i don't think he does i

the amount of cash on hand at berkshire would be seemingly enough to manage a transaction with a $100 billion price tag. that is your "bloomberg business flash." vonnie: time for our "quick take," with context and background on issues of interest. today it is net neutrality. the internet is a set of pipes. it is also a set of values, and there is a philosophical context under the banner of net neutrality. broadly, it means everything on the internet should be equally accessible, where great ideas compete on equal terms with the big money. it is a principle that many people claim to honor. but interpreting it is a different story. here is the situation. u.s. fcc chairman wants to roll back net neutrality rules that prevents broadband providers from interfering with web traffic. under president obama, the fcc imposed increased government oversight of broadband traffic and these regular nations were upheld by federal court. internet service providers are treated as public utilities and are forbidden from blocking or slowing rivals with content. the term "network neutrality" was coined in

i got to see it at the berkshire hathaway shareholder. plus, it could double its gains over the next year and a half, even if warren buffett steps down. is the president gaining some political momentum during his trip? here to talk about it horizon investment chief global strategist and democratic political analyst cathy. gregg, when he left his approval ratings were not great. but something tells us that they will be better upon the return because he so far is looking very presidential, he's fair, going both to the palestinians and the israelis and to the pope. what do you think is going to happen? >> well, the big thing is that nobody is talking much about russia, and i think we have several days until that cools down. we get comey testifying in another week or so, liz. but i think for now a little hiatus on russia helps him as well. liz: kathy, there's a deal that has been struck, and that is certainly good news for u.s. companies. but what jumps out at you from this trip? >> well, he has been presidential, and we haven't been hearing

and giving berkshire hathaway investors something to talk about at the annual meeting this

the berkshire hathaway annual shareholder meeting will be selling lots of coca-cola with the bottles. we got it here first. the meeting kicks off friday in omaha. you i will head straight there after the show thursday. it will take over the entire city three straight days. i have live updates about anything said about united, coca-cola, wells fargo and more throughout my entire "weekend with warren." you can follow me on twitter. live tweeting @lizclaman. we're 84,000 followers right now. austin, you were with me back when we had 30,000. >> yes. 5000 i think. liz: he is not impressed at moment. he wants to see 100,000. >> more claim. liz: help impress austin, my floor director, get to the 100,000 mark. follow lee @lizclaman. tell your friends and family. exclusive material is on lizclaman.com. friday live from omaha, my one-on-one interview with nebraska governor pete ricketts. oh, look at that stamp. a little custom liz stamp. charlie monger, you warren buffett and bill gates sit down with my, richest minds on the president trump, economy, health care, investments. all the ideas on t

that's cost a lot of people at berkshire. they saw the lower price, they said if it gets back there, i'll buy it. that's a terrible way to think. >> he said if he was faced with the decision of either having to buy the stock or short the stock, he would buy it. both in the case of google and in the case of amazon, but i think this really shows at evolution of his thinking for a guy who claims he's not a technology investor, we see how he's evaluating the companies and finding ways to evaluate the companies based on what he knows and how he's valued stocks for a long time. >> that's a fascinating answer he gave you as to whether or not he would be forced to buy it or short it. we're going to talk about this a bit. it's good to see becky working hard in omaha. all of these mea culpa from buffetts are happening as ai, and cloud, and machine mobilities are things with toss around with ease. >> yeah. we've been trying to get warren buffett to code in all of events. one time i got him on the phone. he said i don't like tech stocks

if it's may, it's berkshire hathaway. friday we are live in oklahoma, nebraska, kicking off weekend with warren. berkshire earnings friday, then saturday i'll be right back in the thick of it like that scene right there, because it's the annual shareholders' shindig. 38,000 minimum attendees, and everybody swarms around warren buffett, and look when's there, fox business. team fox business will be there covering every angle. and then monday, one week from today, i go one on three with the richest minds as we call them, warren buffett be, his right-hand man charlie munger -- in his 90s now -- and the current reigning wealthiest man in the world, microsoft's bill gates. right here on the fox business network. >>> to the nation's capitol, the first 1500 days official -- 100 days officially in the rearview mirror. blake burman just got out of sean spicer's press briefing, and, blake, let's get right to it. we already showed what sean spicer said in reaction to your question, and then there was some ground to cover on health c

this is specifically for berkshire hathaway. you know how i was talking about what is happening in terms of technology versus financials? the graybar, financials, is down 1.8% of the first quarter. but on the flipside, look at the orange. technology up 5%, and we have been talking about how apple was one of the big pushes. 72 million shares is what berkshire hathaway's put in. we are looking at serious holdings. -- switching over, the greatest financial three technology is orange. we are seeing this give and take. forthomas a cold and -- another holdings, financial down during technology up 5.5%. the biggest push is gilead atrip, andse snapple. anchor: coming up, protecting against cyber attacks. we will get some advice from mcafee. this is bloomberg. ♪ betty: this is daybreak asia. i'm betty liu in new york. shery: i am shery ahn in hong kong. a quick check of the latest business flash headlines. top analystsy's revised the projections of how much cash they will burn through as more prosperous rivals encroach on his business.