Buffett's Berkshire Hathaway reports first loss in 9 years
Warren Buffett's Berkshire Hathaway has reported a rare net loss of $1.1 billion in March quarter, marking its first loss since 2009. This was due to new accounting-rule changes, which require Berkshire to report unrealised gains or losses in equity investments in net income. Berkshire's cash pile fell to $109 billion from the record $116 billion at last fiscal's end.