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Warren Buffett’s Berkshire Hathaway on Wednesday revealed a new, $6.72 billion stake in the insurer Chubb, confirming months of speculation that it had made a big new investment.

Berkshire owned 25.92 million Chubb shares as of March 31, according to a regulatory filing detailing Berkshire’s US-listed holdings as of that date.

The disclosure sent Chubb’s share price to a record high in after-hours trading, rising 6.3% to $268.96.

Shares often rise when Berkshire reveals new holdings, reflecting what investors believe is Buffett’s seal of approval.

“Chubb is an attractive equity investment for Berkshire because it operates in a business Berkshire knows well: property-casualty insurance,” Cathy Seifert, a CFRA Research analyst who covers Berkshire, said in an email.

Seifert would not speculate whether Berkshire might buy all of Chubb, but said Chubb’s focus on commercial lines specialty coverage and high-end homeowners’ protection would be a “good fit” in Berkshire’s insurance and reinsurance portfolio.

Berkshire ended March with $189 billion of cash and equivalents.

At Berkshire’s annual meeting on May 4, Buffett said the cash stake could reach $200 billion by June, and that cash looked “quite attractive” relative to high-priced stocks and in light of “what’s going on in the world.” Chubb and Berkshire did not immediately respond to requests for comment.

Berkshire began buying Chubb in last year’s third quarter, and had obtained Securities and Exchange Commission permission to temporarily keep its purchases confidential.

Buffett occasionally requests such permission to keep investors from piggybacking on him before he’s done buying.

In recent years, Berkshire obtained similar SEC permission for its investment in Chevron and former investments in Exxon Mobil, IBM and Verizon.

The Chubb investment was revealed 10 days after Berkshire unexpectedly disclosed it had sold about 115 million Apple shares in the first quarter.

That reduced its holdings in the iPhone maker to $135.4 billion, or 40% of its $335.9 billion equity portfolio.

Apple accounted for most of the $20 billion in stock that Berkshire sold in the first quarter.

Berkshire also pared holdings of several other stocks, including Louisiana Pacific and Sirius XM, and exited its investment in computer maker HP. It bought just $2.7 billion of stocks in the quarter.

Wednesday’s filing does not identify which investments were made by Buffett or his portfolio managers Todd Combs and Ted Weschler.

Buffett, 93, has run Berkshire since 1965.

The conglomerate also owns dozens of businesses including the Geico car insurer, BNSF railroad, energy and industrial companies, and consumer brands such as Benjamin Moore, Dairy Queen, Duracell, Fruit of the Loom and See’s Candies.

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GB News show with Rishi Sunak broke broadcasting rules, Ofcom finds




GB News show with Rishi Sunak broke broadcasting rules, Ofcom finds

GB News could face punishment after a programme with Rishi Sunak broke broadcasting rules.

Regulator Ofcom said it was considering a “statutory sanction” after finding ‘People’s Forum: The Prime Minister’ breached impartiality guidelines.

GB News called it “an alarming development” that “strikes at the heart of democracy”.

The hour-long show, which aired on 12 February, saw members of the public put questions to the prime minister. However, it received 547 complaints.

Ofcom said in March that five other GB News programmes featuring politicians acting as presenters – including two hosted by Jacob Rees-Mogg – also broke impartiality rules.

The watchdog said the show featuring Mr Sunak was fine in principle, but “due weight” should have been given to an “appropriately wide range of significant views” other than the Tories’.

These should have happened during the programme itself or “in other clearly linked and timely programmes”.

It said Mr Sunak “had a mostly uncontested platform to promote the policies and performance of his Government in a period preceding a UK General Election”.

“We have therefore recorded a breach of rules 5.11 and 5.12 of the Broadcasting Code against GB News,” it added.

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The channel was quick to hit back at the ruling and denied breaking the impartiality rules.

“The regulator’s threat to punish a news organisation with sanctions for enabling people to challenge their own prime minister strikes at the heart of democracy at a time when it could not be more vital,” it said.

“Our live programme gave an independently selected group of undecided voters the freedom to challenge the Prime Minister without interference,” added the channel.

It said neither producers nor the prime minister had seen the questions beforehand and Mr Sunak was kept “under constant pressure and covered a clearly diverse range of topics”.

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Source: Boeser (blood clots) not expected in G7




Source: Boeser (blood clots) not expected in G7

Vancouver Canucks right wing Brock Boeser is not expected to play in Game 7 of their second-round series against the Edmonton Oilers on Monday because of a blood-clotting issue, a source told ESPN, confirming a report.

There’s no timeline for his return to action. The Canucks had no comment on Boeser’s status.

Boeser didn’t skate in practice Sunday. Coach Rick Tocchet would only say at a media availability that “he needed the maintenance day.”

Boeser, 27, leads the Canucks in goals (7) and is tied for the lead in points (12) during the postseason. He established career highs in goals (40), points (73) and games played (81) during the regular season.

The Canucks winger has had some MVP moments during their playoff run. His hat trick in Game 4 against the Nashville Predators led them to a comeback win. Boeser’s three points in the first period of Game 3 led Vancouver to a win over Edmonton.

It’s the second significant injury for Vancouver in the playoffs after a regular season of relatively good health for the team’s core players. Starting goaltender Thatcher Demko, a finalist for the Vezina Trophy as the NHL’s best netminder, hasn’t played since Game 1 of the first round because of a knee injury. Edmonton won Game 6 at home Saturday night to force Monday’s Game 7, the only seventh game of the second round of the Stanley Cup playoffs. The winner faces the Dallas Stars in the Western Conference finals.

The Boeser injury news was first reported by Vancouver-based hockey journalist Irfaan Gaffar.

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U.S. advances at hockey worlds; Canada now 6-0




U.S. advances at hockey worlds; Canada now 6-0

PRAGUE — Dylan Cozens scored two goals and had an assist to rally Canada past Switzerland 3-2 for its sixth win in six games at the ice hockey world championship on Sunday.

Canada leads Group A with 17 points, two more than the Czech Republic in second with Switzerland another point back in third. The three teams had already clinched a spot in the playoff round.

Cozens has scored six goals at the tournament and is tied atop the scoring table with American Brady Tkachuk and Finland’s Oliver Kapanen.

Nick Paul also scored for Canada and goaltender Jordan Binnington made 20 saves including a penalty shot in the second period when the score was 2-2.

Cozens found the roof of the net on a power play 1:42 into the game to give Canada an early lead.

Switzerland answered with two goals.

Kevin Fiala wristed an equalizer past Binnington in the opening frame on a power play.

Romain Loeffel put the Swiss 2-1 up in the middle period with a slap shot from the blue line.

Cozens tied it again at 2-2 from the top of the left circle on a power play.

Paul scored the winner for Canada on a power play, completing a series of passes by scoring into an open goal midway through the second.

Canada will complete the preliminary round on Tuesday against the Czech Republic, when Switzerland will face Finland.

In Group B, Latvia prevailed over Slovakia 3-2 in a penalty shootout. The result sent the United States to the next round.

Tkachuk scored three power play goals and added an assist to help the United States rout Kazakhstan 10-1.

Its fourth victory lifted the Americans to second place in Group B with 13 points, one ahead of Germany and Slovakia with a game against Latvia, which has nine points, on Tuesday to play in the preliminary round.

Johnny Gaudreau had a goal and four assists to become the United States record scorer with 43 points, one more than Patrick Kane.

Matt Boldy scored twice and had four assists, Brock Nelson and Luke Kunin both had a goal and an assist, and Gavin Brindley and Kevin Hayes also scored.

Alex Nedeljkovic made 13 saves.

In a four-goal opening period, Tkatchuk tipped in a shot by Zach Werenski on a power play to increase the U.S. lead to 2-0, and buried a rebound to make it 4-0 on a power play.

He completed his hat trick to increase the advantage to 8-0 with a one-timed shot from the right circle on another power play in the final period.

Alikhan Omirbekov scored the consolation goal for Kazakhstan when his team was 9-0 down.

In Group A, Austria beat Norway 4-1 and is tied for fourth place with Finland.

The top four from each group advance to the playoff round.

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