Daily business briefing: Berkshire Hathaway sells more Kraft stock

August 15, 2013 

Warren Buffett's Berkshire Hathaway has again reduced its stakes in Kraft Foods and Mondelez International. The two packaged food companies split up late last year and the Omaha, Neb.-based Berkshire has since cut its shares to 192,666 --down 88 percent from the stake reported as of March 31. Its stake in Mondelez was slashed by 92 percent to 578,000 shares. Read more at http://www.bnd.com/business. ...


Earnings and revenue at Cisco grew in the past quarter as demand for its computer networking equipment increased. However, the technology company is cutting about 4,000 jobs, or about 5 percent of its work force. Find out more at http://www.bnd.com/business. ...


Stock futures are down for the third out of the past four days. Shares of Wal-Mart fell before the opening bell Thursday after the company reported that revenue at comparable stores fell, and the world's largest retailer cut its profit and revenue expectations for 2013. Dow Jones industrial futures fell 120 points to 15,184. Learn more at http://www.bnd.com/business. ...


Signs of inflation remains mild as U.S. consumer prices rose slightly last month as gas increased more slowly. The Labor Department said Thursday that the consumer price index rose 0.2 percent in July after a 0.5 percent increase in June. Gas prices rose just 1 percent after jumping 6.3 percent in June. Over the past 12 months, consumer prices have risen 2 percent. Read more at http://www.bnd.com/business.

-- Will Buss, BND business writer

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