Investment Banking

Berkshire Hathaway bought back its own shares in 2020 for more money than ever before. In total, the conglomerate spent 24.7 billion dollars (20.5 billion euros) on this kind of share price maintenance, according to its annual report published on Saturday.

In the fourth quarter, Warren Buffett's investment company invested nine billion dollars in its own shares, which was almost exactly the same as the record volume in the previous quarter. Berkshire Hathaway was able to strongly increase its net profit at the end of the year.

According to reports by Bloomberg, the investment bank JPMorgan Chase & Co. is moving assets worth around €200 billion from the United Kingdom to Frankfurt, Germany. The reason for the move is the end of the transition period and the Brexit with the United Kingdom leaving the European Union.