Tiwa Adebayo

But years later, it seems that sentiment could have shifted.

Berkshire Hathaway slashed its investment in the company by more than 75% towards the end of last year, whilst also building its position in The New York Times.

The move was one of Buffett's last bets as CEO of the famed conglomerate before stepping down.

Berkshire also increased its stakes in Chevron and Chubb during the period.

In London, Tiwa Adebayo, Bloomberg Radio.

$42 million.

That's how much Citigroup CEO Jane Fraser is set to take home in her 2025 package.

The upgraded total follows a 66% surge in stock, more than any other Wall Street bank, and puts her total compensation just $1 million behind JP Morgan magnate Jamie Dimon.

Included in the bump is a $1.5 million base, $6.1 million of cash incentive and the rest in stock awards.

Fraser's increase is yet another sign of confidence from the board and her leadership as she attempts to turn the bank around after years of lagging its peers.

The move comes after salary upticks across Wall Street as firms including Goldman Sachs, Morgan Stanley and JP Morgan opt to boost CEO rewards.

In London, Tiwa Adebayo, Bloomberg Radio.

We have to preserve and define, by design, European content.

Those were the words of French President Emmanuel Macron to a summit of business leaders as he's urging EU countries to prioritise buying from within the bloc in strategic sectors.

But his made-in-Europe agenda has a significant opponent.

Germany's Chancellor has warned the approach could be too narrow, arguing that European preference rules should only be used as a last resort.

Friedrich Merz's remarks at the same event illustrate the divisions going into today's European leaders' retreat on competitiveness.

Meanwhile, the UK's Rachel Reeves has appealed for any made-in-Europe law to be broadened to include like-minded countries outside the EU.

In London, Tiwa Adebayo, Bloomberg Radio.

The EU is accelerating a planned review of its banking rulebook after pressure from member states.