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Business this week | The Economist

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After 56 years at the helm of Berkshire Hathaway, Warren Buffett named Greg Abel to succeed him as chief executive. It is not clear when the 90-year-old Mr Buffett will actually vacate the job. Berkshire’s share price underperformed the S&P 500 over the past two years, but has rebounded in the first quarter of 2021, pleasing its legions of investors. Quarterly net income came in at $11.8bn, in part because of the soaring value of investments in Apple and other stockmarket stars.

The announcement by Bill and Melinda Gates that they are to divorce after 27 years of marriage sent shockwaves through the world of philanthropy. The deep pockets of the Bill and Melinda Gates Foundation have funded many global public-health projects, often reshaping policy discussions. It invested early in vaccines for covid-19, working with the…

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