Buffett gives nearly 2.9 billion to Gates charity and four others
Buffett donates about 2.86 billion worth of Berkshire Class B shares to the Bill & Melinda Gates Foundation and four family charities as part of his plan to give away nearly his entire fortune. The donation includes 19.61 million shares and lifts total giving to more than 24.3 billion since 2006. Gates, Buffett, and family foundations oversee education health and poverty initiatives.
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U S Bancorp profits rise on loans and revenue growth
U S Bancorp reported a 2.6 percent rise in second quarter profit to 1.52 billion with earnings of 83 cents a share, while revenue climbed 8 percent to 5.45 billion. Total loans advanced 8.1 percent as CEO Richard Davis cited growth in home equity and consumer lending amid low rates.
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Wells Fargo grilled on expenses after profit drop
Wells Fargo chief executives faced questions from analysts about rising costs after the bank posted a 3.5 percent drop in second quarter profit. Despite loan growth revenue rose four percent to 22.2 billion, as larger provisions for potential losses and higher operating costs trimmed margins.
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